Prioritise financial intelligence, Badmos urges UNILORIN students
By Abubakar Abdulquadri
The Proprietor of IQRA Group of Schools and Member of the Nigerian Economic Society (NES), Mr Aliu A. Badmos, has called on both staff and students of the University of Ilorin to always prioritise financial intelligence as a means of avoiding financial incapability and living a better life all the time.
Mr Badmos made this call last Wednesday (January 21, 2026) while speaking at a programme themed “Unlocking Financial Freedom Through Money”, organised by the Communication and Information Sciences Students Association (CISSA) at the Faculty Lecture Theatre.
The proprietor stressed the importance of making money, saying it is very important because we spend money every day, and nothing is free. He emphasised that whatever food you take advantage of being consumed free of charge or any free service enjoyed, somebody somewhere might have paid for it.
Mr Badmos, who was the Guest Speaker at the event, said money making can be managed through two perspectives: Financial Literacy and Financial Intelligence. He explained that financial literacy deals with understanding the rules that guide monetary aspects, pointing out that one of the rules is that money is a tool that can help or destroy you.
He emphasised the need to continue to learn about how money earned can be grown. He warned against spending all earned money on consumption alone as he recommended the priority of saving.
Speaking further on financial intelligence, Mr Badmus advised participants to be smart about the money they earn and ensure they focus more on their financial future. “Avoid bad debt and cherish good debt, noting that good debt is when borrowed money is spent to invest in what can earn more profit or interest to pay back conveniently and still have a project or product to be proud of”, he said.
The renowned Economist called on participants to watch the relationship between their income and expenses and never allow their consumption to surpass their income.
Earlier in her remarks, the Dean of the Faculty, Prof. Saudat Salah Abdulbaqi, commended the University management for investing heavily in the Faculty as she appreciated the ongoing renovation at the Faculty and urged students to maintain the facilities, saying that “to whom much is given, much is expected”.
Prof. Abdulbaqi appreciated CISSA’s leadership for collaborating with the Faculty management to maintain orderliness and ensure students don’t violate the University’s dress code. She acknowledged their self-designed initiative to maintain Faculty cleanliness, setting aside a month to clean the Faculty and its environment, which she described as unprecedented in the University of Ilorin.
Also speaking, the Ag. Head of the Department of Finance, University of Ilorin, Dr Biliqees A.Abdulmumin, while
presenting a paper on “Money Management Skills”, enlightened participants on the need to have better awareness and remain disciplined on how to earn, spend, and save money.
The Head of the Department said that if one is able to achieve this, one would be seen as a financial manager. She encouraged the audience to always track their expenses and incomes, as this will enable them to adjust regular expenses and also add up where necessary.
The don cautioned them against buying imported goods and yielding to pressure to get materials or needed products like their peers, lamenting that their means of earning differ.
She emphasised the importance of spending 50% of their earnings on consumption, 30% on needs, and saving 20% as it is very necessary.
While advising the participants, she suggested saving money on fixed deposit as the fastest way of growing interest on money and ensuring they extend the value of their money from time to time.
The President of CISSA, Sanni Nurudeen Akorede, thanked the management and staff of the Faculty for the quality service delivery to students.
