Chukwudi Akasike,  Port Harcourt

The Chairman, First Bank of Nigeria Limited, Mrs Ibukun Awosika, has urged Nigerian women to make deliberate efforts to be prudent in their expenditure on luxury goods.

Awosika, who gave the advice during a seminar organised by First Bank of Nigeria in Port Harcourt, described luxury goods as assets that would depreciate.

She expressed the need for women to grow their businesses, create and increase wealth.

The seminar was organised to empower women with relevant knowledge and platforms available to them within the bank.

Awosika enjoined women to support their families by starting small businesses, adding that such efforts could help in times of hardship.

She said, “Spend prudently on luxuries as they are depreciating assets. If you buy a car, it does not appreciate in value, rather it depreciates. But real estate appreciates daily.

“Women are assets to their households; they have the capacity to support their families in times of hardships, and how women think and understanding money will determine the level of success in families.

“Make deliberate and sustained efforts in starting and growing whatever you can do to support yourselves and your husbands and not just relying on them for everything. Helping women to understand and better manage money and wealth is important to us as a bank.”

She also urged the participants to take advantage of the various financial platforms the bank was offering them.

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