In today’s rapidly evolving economic environment, financial literacy has become a critical skill, especially for younger generations who are growing up amidst ubiquitous digital technology and complex financial systems. Equipping children and teenagers with fundamental money management abilities is no longer a luxury but a necessity, ensuring that they can navigate and thrive in a world where financial decisions impact almost every aspect of life. Recognizing this pressing need, Unity Bank Plc, a prominent retail bank in Nigeria, has introduced GenFi, an innovative digital platform designed specifically to empower children and adolescents aged 8 to 18 by blending financial education with engaging gamified elements.
Unity Bank’s new platform, GenFi—short for “Generation Finance”—tackles the significant challenge of poor financial literacy in Nigeria, where a Central Bank report reveals only 38% of adults possess financial know-how. This gap in knowledge threatens long-term economic stability and individual fiscal well-being. GenFi stands out by integrating interactive and game-like features that make learning about saving, budgeting, and basic financial concepts not just educational but genuinely fun and accessible. Unlike traditional financial literacy tools that often fail to captivate young minds, GenFi’s design harnesses the motivational power of gamification to maintain engagement and reinforce positive financial habits. For instance, children and teens can participate in challenges that reward saving goals and wise spending decisions, turning abstract money concepts into tangible, relatable actions.
The platform’s success is further bolstered by its appeal to parents and educators, who see it as a valuable complement to conventional financial education. Genevieve Adindu, a parent who attended the official launch, highlighted GenFi’s modern and engaging approach to fostering saving habits at an early age. Such endorsements signal the platform’s potential to nurture a generation equipped with the financial skills needed to face adulthood confidently and responsibly. Moreover, Unity Bank’s commitment extends beyond the digital realm; the bank actively supports nationwide outreach initiatives, including training workshops held in 13 secondary schools as part of the 2025 Global Money Week. These sessions provide hands-on guidance and mentorship, reinforcing the educational objectives that the GenFi platform embraces.
Unity Bank’s CEO, Ebenenzer Kolawole, has emphasized the urgency of managing money wisely to secure one’s future, underscoring how early financial education can empower youth amid Nigeria’s broader socio-economic challenges. Many Nigerian families face economic uncertainties that make prudent money management critical. By improving financial literacy among young people, the country can cultivate better personal finance habits, reduce vulnerabilities to debt, and encourage saving and investment behaviors that contribute to long-term economic resilience. GenFi’s blend of accessibility, motivation, and educational content offers a pioneering example for other financial institutions in emerging markets striving to bridge knowledge gaps and foster economic empowerment from the ground up.
In essence, Unity Bank’s GenFi initiative marks a forward-thinking step toward transforming financial literacy for Nigerian youth. By targeting children and teenagers with a gamified digital platform, the bank addresses a crucial educational void with an engaging, practical, and scalable solution. Supported by nationwide educational campaigns and positive feedback from parents and experts, GenFi aspires to shape a financially savvy generation capable of making informed decisions that benefit not only individuals but also the broader Nigerian society. This holistic approach to youth financial empowerment reflects a deeper recognition of the links between education, technology, and economic sustainability, heralding a promising path forward in the quest for financial inclusion.
