2nd Term / Term 2
Week: Week 3
Class: Primary 5/ Basic 5/ Grade 5
Subject : Social Studies
Topic : Resource Preservation (Savings)
Duration: 40 minutes
Previous Knowledge : Learners have been taught meaning of organisation and cooperation as well as types and functions
Reference Materials : Social Studies for primary schools, Book 5.
Instructional Materials : Pictures and charts showing a bank.
Behavioural Objectives: By the end of the lesson, learners will be able to :
i. Define savings
ii. Identify the different ways of savings
iii. List and explain the types of banks in the community
CONTENT:
Savings and Resource Preservation.
Saving means putting money aside for future use. Most people save by depositing money in a bank or investing it in company shares or buying property.
A bank is an institution that accepts money from people in the form of deposits. Banks also lend people money.
Many people in Nigeria also save through a program called Esusu. Different ethnic groups have different names for it. The Yoruba people call it Esusu or Ajo. The Igbo call it Isusu or Utu while the Edo call it Osusu. The Hausa call it Adashi. Members of the esusu associations contribute a fixed amount of money periodically. They then give all or part of the accumulated funds to one or more members until all have benefitted from the pool of money.
The outer part of a bank.
Types of Banks in the Community
Central Bank
A central bank is a national bank that provides financial and banking services for the government and commercial banking system of the country. The central bank is responsible for implementing the government’s monetary policy and issuing the country’s currency.
The Central Bank of Nigeria (CBN) is the government organization that oversees and regulates the country’s money and banking system.
Commercial Banks
A commercial bank is a bank that offers banking services to the general public, as well as companies. Commercial banks accept cash deposits from people and companies. They also give out loans to customers who need it and have a good credit history. Commercial banks in Nigeria are regulated by Central Bank of Nigeria.
Examples of commercial banks in Nigeria are First bank, Zenith bank, Fidelity, Diamond bank, Polaris bank, Stanbic bank, FCMB bank, Keystone bank, Union bank, UBA bank, Sterling bank, etc.
Micro- Finance Banks
Micro- Finance banks are that give small loans to individuals to set up or grow their own businesses.
Banking Operations
To save money in a bank account, you must first open an account with any bank of your choice. There are two main types of bank accounts:
Current account: This is the type of account for managing a day- to – day money.
Savings account: This is a type of bank account for putting away money that you save. Savings accounts pay interest on money deposited in them.
The internal part of a bank with some customers at the counter carrying out business transactions.
The bank is made up of different sections such as :
Customer care unit: This is point where the customer lay any complain to the bank officials.
Counter: This is the point where customer deposits money into his account or request for withdrawal of some of his money.
Bulk room: This is a special room where huge or large amount of money is deposited or collected by a customer.
The bank staff is made up of bank manager, cashier, I. T. staff, technical team, customer care, security, drivers, etc.
PRESENTATION:
Step 1: The teacher revises the previous topic taught with the learners.
Step 2: He/ She introduces the new topic
Step 3: He / She explains the lesson to the learners based on the stated objectives
Step 4: He/ She makes the lesson to be interactive with group discussions
Step 5: He / She then rap up the lesson by emphasizing on the salient points.
EVALUATION: The teacher reviews the lesson by asking the following questions:
1. What is savings? ________________________________________________________________________________
2. An institution that accepts money from people in the form of deposit is called a _________________.
3. List 10 commercial banks in Nigeria.
4. Name the two main types of bank account: ________________________________________________________________________________
5. What bank serves as a ‘Watchdog’ over all Nigerian banks? ________________________________________
6. The type of bank account that pays interest on money deposited in them is known as _____________________________.
Conclusion: At the end of the lesson, learners were able to answer the questions correctly.
Assignment:
List two factors affecting savings