Johnjude Okere’s FUNDAMENTALS of Financial Literacy

By Ori Martins

The 112 pages of the work, FUNDAMENTALS of Financial Literacy written by Ikenga Johnjude U. Okere, is a book for all ages. It is written in simple English Language making it very easy for all to read understand.

Compossed into 18 chapters, the book is a guide to anyone who wants develop a true and honest principles on how to handle anyone’s finances. This fact is well captured by the author.

According to Okere, “FUNDAMENTALS of Financial Literacy is a tremendous and well researched resource material tailored for the purpose of educating and preparing teenagers and young people for responsible financial decision – making in managing their personal finances or independent lives in futre; when they will have jobs, become entrepreneurs or be in leadership positions in various aspects of human endeavour where they are expected to earn income or manage public funds as custodians of people’s truth”.

In chapter one, the author looks at what he coined as FINACIAL LITERACY. He describes it as “The study and appreciation of the value of money, credit, debt management and implementation of the knowledge acquire for making responsible finacial decisions”.

For anyone to practically master the act of monetary discipline and then function commendably in any capacity involving money, the one factor needed here is “Financial Literacy”. “It is a lifelong journey of learning either through formal or informal education about the understanding and use of money”, Okere writes.

The Nigerian currency and the heroes immortalized occupy chapters two and three respectively just as the author delves into “HANDLING OF THE NAIRA NOTES in chapter four.

Teaching on how to handle the Naira notes, Okere observes that ” To preserve Naira notes keep them clean, flat, and stored in a cool, dry place, away from direct sunlight and chemical contaminants…”

The author dedicates chapter five to TRANSACTING WITH MONEY. This is a way of updating readers with the various ways through which financial dealings can be exchanged.

Financial Psychology, Money Management and How to be Financially Literate are discussed in chapters six, seven and eight. On the other hand, Okere uses the window of chapter nine to explain the skills needed for financial literacy.

In all the 18 chapters of the book, Okere pays adequate attention in

at details as he graphically highlighted the importance of financial literacy. From chapter 11, Okere who is a known business mogul and grasstoots based politician, discussed why entrepreneurs must acquire what he labelled “Basic Components For Objective Financial Literacy Review”.

As a youngman, Okere experinced business high and low, thus, he treates chapter 11, “Importance of Financial Literacy For Young People” where he pens down how youngsters can build their businesses.

Of course, the history of anything makes it more understandable, hence, the chapter 12 of the book is on History Of Cash, just as chapter 13 is on Financial Transaction because the essence of money is to use it for transaction. Since the era of internet and improved technology, there has been lots of concerns over cyber financial crimes. This the issue in chapter 14. The all important issue of Financial Decision Making is diligently discussed in Chapter 16.

The book is compact, hot and fresh. It is good for students both in the secondary and university (school) levels. It is a must read for young school leavers, teachers, economic and financial workers as well as all other professionals who want to deepen their knowledge about private and public financial management.