Unity Bank Plc has introduced GenFi, a groundbreaking digital banking platform designed to instill financial literacy in Nigerian children and teenagers aged 8 to 18. The launch comes in response to the Central Bank of Nigeria’s recent report revealing that only 38% of Nigerian adults are financially literate, spotlighting the urgent need for early financial education.

Unveiled in Lagos, **GenFi—short for Generation Finance—**aims to equip the next generation with essential money management skills through an engaging, parent-guided digital platform. Young users will be able to track income and allowances, set savings goals, and develop healthy spending habits from a young age.

Speaking at the event, Ebenezer Kolawole, Managing Director and Acting CEO of Unity Bank Plc, described the initiative as a major milestone in the bank’s ongoing evolution in retail banking.

“GenFi is pioneering a solution to empower Gen Z and Gen Alpha with essential financial literacy skills and personal finance management tools,” Kolawole said. “It reflects our commitment to building a more financially inclusive society from the ground up.”

Mrs. Adenike Abimbola, Divisional Head of Retail and SME Banking at Unity Bank, emphasized that GenFi is more than just a banking app—it’s an ecosystem built around behavioral science and gamification to make learning about money fun, interactive, and impactful.

“Financial literacy is a life skill, and the best time to learn it is in childhood,” she noted. “With GenFi, children learn not just to save or spend wisely, but also concepts like patience, discipline, and goal-setting through real-life experiences.”

GenFi also integrates parental monitoring features, allowing guardians to oversee transactions, guide financial decisions, and foster conversations around money management—ultimately strengthening family bonds.

“Imagine a 12-year-old saving up for a bicycle. They’re not just learning finance—they’re practicing delayed gratification and developing long-term planning skills,” Abimbola added.

With its focus on youth empowerment and sustainable economic inclusion, GenFi is being positioned as a national benchmark in digital financial solutions for young Nigerians.