Chapter One — 1.1 Background to the Study

Financial Literacy has increasingly attracted the attention of researchers, regulators, and practitioners concerned with job creation of youth entrepreneurs. This growing interest reflects the recognition that financial literacy does not operate in isolation, but interacts with a wider set of institutional and market conditions found within Selected Deposit Money Banks in Nigeria.

Selected Deposit Money Banks in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

Despite a growing body of literature on financial literacy, there remains limited consensus on the precise nature of its relationship with job creation of youth entrepreneurs, particularly within Selected Deposit Money Banks in Nigeria. Many organizations continue to make decisions about financial literacy without a clear, evidence-based understanding of how those decisions ultimately affect job creation of youth entrepreneurs. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Financial Literacy on job creation of youth entrepreneurs in Selected Deposit Money Banks in Nigeria.
2. To assess the extent to which financial literacy influences job creation of youth entrepreneurs within the study area.
3. To identify the challenges associated with financial literacy in relation to job creation of youth entrepreneurs.
4. To recommend strategies for optimizing financial literacy in order to improve job creation of youth entrepreneurs.

1.4 Research Questions

1. What is the effect of financial literacy on job creation of youth entrepreneurs in Selected Deposit Money Banks in Nigeria?
2. To what extent does financial literacy influence job creation of youth entrepreneurs within the study area?
3. What challenges are associated with financial literacy in relation to job creation of youth entrepreneurs?
4. What strategies can be adopted to optimize financial literacy in order to improve job creation of youth entrepreneurs?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around job creation of youth entrepreneurs. For managers and practitioners within Selected Deposit Money Banks in Nigeria, the study provides practical insight into how financial literacy can be better managed. Finally, it contributes to the academic literature on entrepreneurship by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this MSc study confines itself to Selected Deposit Money Banks in Nigeria, focusing specifically on how financial literacy relates to job creation of youth entrepreneurs within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.