Prof. Sulaiman Abdullahi Karwai of the ABU Business School, Ahmadu Bello University, has emphasized that financial intelligence ...
Prof. Sulaiman Abdullahi Karwai of the ABU Business School, Ahmadu Bello University, has emphasized that financial intelligence and pre-retirement planning are essential for a fulfilling and value-added life after retirement.
This was contained in a statement signed and released by the Public Affairs Directorate, Office of the Vice-Chancellor, Ahmadu Bello University, on Thursday, May 22, 2025.
Speaking at a lecture he delivered to staff of the Faculty of Veterinary Medicine, Prof. Karwai highlighted how financial intelligence helps individuals navigate the complexities of personal finance. He stressed the importance of setting specific savings and investment targets early to avoid difficulties later in retirement. “If you would work, you would save and invest, then you would retire with value added life,” he said.
The professor urged potential retirees to plan their expenditures wisely, getting “the maximum bang for their buck” while avoiding pretentious lifestyles and unnecessary competition.
According to Prof. Karwai, financial literacy involves effectively managing personal finances, budgeting, and developing a smart relationship with money. He noted that preparing for a healthy and secure retirement often requires sacrifices, including living within one’s means and regularly monitoring finances.
He identified the fundamentals of financial intelligence as crafting a clear financial vision, setting realistic value-based goals, living within pragmatic limits, and pursuing financial wellness.
Prof. Karwai also recommended home-based side businesses for retirees, such as agriculture and agro-allied ventures, estate and commodity trading, educational and management consulting, and online businesses, as practical ways to add value post-retirement.
The lecturer further explained that the complexities of Nigeria’s socio-economic environment have made pre-retirement planning a top priority for many Nigerians today.
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