A financial wellness Educator and the Chief Executive Officer of OlerOladele, a financial wellness company and social enterprise, Ola Oladele has launched an initiative “The Big 3” to support entrepreneurs to boost their finances through financial education.
In a press conference, held recently in Lagos, Oladele noted that there would be a selection process to pick three entrepreneurs from different fields and educate each of them separately about finance for three months.
She mentioned that her extensive financial background and years of expertise have enabled her to close the financial divide by providing individuals with the tools and knowledge to safeguard their financial futures through education in finance.
She said, “Research has shown that financial education is a better predictor of future wealth than how much a person earns.”
She stated that the Central Bank of Nigeria had conducted a research paper on financial inclusion, revealing that the primary issue was a lack of financial education. The data indicated that a significant portion of the population was unfamiliar with the concept of interest.
Oladele pointed out that this knowledge gap had substantial consequences, particularly in the current economic climate, impacting people’s finances more significantly than ever, especially about inflation and other factors.
She pointed out that if we reflect on individuals who have become lottery winners, it’s common to observe that a considerable number of them, when assessed five years later, have usually depleted the entirety of their lottery winnings.
“It is not just about how much money that a person makes, there is also a part on how to manage and multiply that money,” She added.
She said, “This is a way of giving back to the society, where three entrepreneurs would be selected for mentoring and get them to a place of clarity and get them to the right place when it comes to their finances.
“The criteria are that they must have earnings and must have been in business at least for up to three to five years and write an essay on why they should be selected, and it is going to be very subjective.”
According to her, “if people check the amount of money that has passed through their accounts, they would be shocked, but the question is where it did all go?”
