Registry Week 2.0 of the University of Lagos (UNILAG) entered Day Two on Wednesday, November 11, 2026, with a Financial Literacy Seminar and Fair held at the Senate Chamber, Senate House.
The programme brought together financial experts and members of the University community to discuss wealth creation, investment management, retirement planning and home ownership, while equipping Registry staff with practical knowledge for making sound financial decisions.
Registrar Calls for Financial Discipline and Responsible Resource Management
In her opening address, the Registrar and Secretary to Council, Mrs. Victoria Abosede Wickliffe, described the seminar as timely and relevant, noting that financial literacy is an essential aspect of personal development and overall well-being. She explained that it goes beyond earning money to include the ability to manage resources effectively, cultivate savings habits, make informed investments and plan for the future.
Mrs. Wickliffe emphasised that financial responsibility should be reflected in both personal and institutional resource management and urged staff to be prudent in their spending, avoid waste and make deliberate decisions that would promote financial stability. She also highlighted the importance of preparing adequately for retirement, noting that staff should not wait until the end of their active service before making plans for life after work.
She encouraged participants to take full advantage of the knowledge and practical guidance offered by the financial experts and participating institutions, asking them to engage actively with the presentations and seek clarification where necessary. She stressed that the value of the seminar would lie not merely in the information shared but in how participants applied the lessons to their everyday financial decisions.
The Registrar expressed the hope that the engagement would equip staff with the knowledge and confidence to manage their finances more effectively, make sound investment choices and secure a more stable financial future.
Promoting All-Round Staff Development
Earlier in her welcome remarks, the Chairperson, Planning Committee, Mrs. Aderonke Asiwaju, described the seminar as part of the Registry’s commitment to recharging, rebooting and revitalising its workforce. She emphasised the need for continuous development of staff attitudes, knowledge and skills, noting that excellence in administrative service delivery requires a holistic approach to staff development.
She explained that the well-being of Registry staff should not be limited to professional competence but should also encompass their mental, financial and other personal needs. According to her, equipping staff with the right knowledge and skills would enable them to function more effectively and contribute meaningfully to the University’s growth.
Mrs. Asiwaju encouraged participants to take full advantage of the presentations by the participating financial institutions, particularly the practical guidance on savings, investment diversification, wealth creation and retirement planning. She urged staff to become more intentional about their financial decisions, manage their resources wisely and build a secure financial future.
Vice-Chancellor Encourages Staff to Invest for the Future
Representing the Vice-Chancellor,Professor Folasade Ogunsola, OON, FAS; the Deputy Vice-Chancellor (Management Services), Professor Muyiwa Falaiye, expressed satisfaction with the inclusion of financial literacy in the Registry Week programme, describing it as an important initiative for equipping staff with the knowledge required to make sound financial decisions and prepare adequately for retirement.
Drawing from his personal experience and proximity to retirement, Professor Falaiye emphasised the importance of starting investment planning early, noting that financial decisions become more critical as retirement approaches, when there may be limited room to recover from losses. He encouraged staff to make adequate provisions for accommodation and family responsibilities before leaving active service, observing that some retirees spend a significant portion of their benefits on rent and other immediate needs.
To illustrate the importance of informed investment decisions, he briefly shared his experience of comparing the cost of accessing funds through his cooperative with the potential returns from a money market investment. He urged staff to study available options, assess the risks and calculate potential returns before committing their resources.
Professor Falaiye also stressed that salaries alone might not guarantee financial independence, reminding staff of the VC’s encouraging charge to develop additional income streams and invest the proceeds rather than rely solely on their monthly earnings. He advised members of staff to plan ahead for their children’s education and other long-term responsibilities, noting that rising living costs make early financial preparation essential.
He concluded by urging staff to cultivate financial discipline, explore viable investment opportunities and take responsibility for securing their financial future.
Building, Managing and Preserving Wealth
The first financial education presentation, delivered by Mrs Abiola Ayoyinka and Lawal Amidat of Meristem Securities, focused on Building, Managing and Preserving Wealth. The presentation examined wealth creation as a deliberate process that requires financial planning, informed investment decisions and a long-term outlook.
Registry staff were encouraged to set clear financial goals, understand their investment options and develop realistic budgets that make room for savings and investments. The facilitators identified common financial mistakes, including excessive spending, inadequate diversification and neglecting retirement savings.
They also highlighted the importance of understanding personal risk tolerance and investment timelines before committing funds, cautioning against making investment decisions based solely on market trends or fear of missing out.
The session further explored different investment options, including equities, fixed-income securities, money market instruments and alternative assets such as real estate and commodities. Participants were advised to align their choices with their financial goals and circumstances.
On wealth preservation, the facilitators introduced estate planning as a means of ensuring that assets are properly documented and transferred to intended beneficiaries. They discussed instruments such as wills and trusts, emphasising that proper planning could help families avoid disputes and difficulties in accessing assets.
Exploring Mortgage Options for Home Ownership
A representative of Imperial Homes Mortgage Bank, Mrs. Omolola Shonowo, delivered a presentation titled Home Ownership through Mortgages, explaining how mortgage financing can help individuals acquire residential properties without having to make the full payment upfront.
She outlined key requirements for accessing mortgage facilities, including proof of regular and verifiable income, a satisfactory credit record, an equity contribution and proper property documentation. She stressed the importance of verifying property titles, building approvals and other legal documents before proceeding with a purchase.
Mrs. Shonowo explained that mortgage financing is generally structured around the property being acquired, which serves as collateral for the loan. She also highlighted the need for prospective borrowers to consider their repayment capacity and other financial obligations before taking on a mortgage.
She further discussed the possibility of eligible pension contributors using a portion of their Retirement Savings Account (RSA) as equity contribution, subject to the applicable conditions. Staff members were encouraged to explore available mortgage options and seek professional guidance when making home ownership decisions.
Financial Literacy and Investing for Financial Growth
The presentation by United Capital, delivered by its Head of Retail Mutual Fund Sales, Mr. Adedayo Durojaiye, focused on investment opportunities for preserving and growing wealth.
He explained that inflation can reduce the purchasing power of money over time, making it important for individuals to consider investment options that can help preserve the value of their savings.
Mr. Durojaiye introduced mutual funds as investment vehicles that pool funds from different investors for professional management and diversification across selected assets. He highlighted some of United Capital’s offerings, including Money Market, Stable Income, Global Fixed Income, Eurobond, Equity and Balanced Funds, as well as investment products designed for women and children.
He identified money market funds as an option for individuals seeking liquidity and capital preservation, while encouraging participants to select investments based on their financial goals, investment horizon and risk appetite.
The presentation also highlighted other services offered by the firm, including stockbroking, trusteeship, estate management and assistance with tracing or recovering unclaimed shares. Staff members were advised to make enquiries about old paper share certificates, as some may still have value and could be verified for possible recovery.
FMBN Highlights National Housing Fund Opportunities
In a presentation by the General Deputy Manager, Federal Mortgage Bank of Nigeria (FMBN), Mr Raheem Onitolo, staff were introduced to housing finance opportunities available through the National Housing Fund (NHF), describing the scheme as a pathway through which eligible contributors can access housing finance.
The presentation covered the NHF housing loan, which offers eligible contributors access to mortgage financing at a stated interest rate of 6 percent per annum, subject to the scheme’s requirements and conditions.
Mr Onitolo also highlighted other housing options, including Rent-to-Own, Construction Loans, Renovation Loans and Cooperative Estate Development Loans. The representative explained that these options provide different routes for individuals and groups seeking to acquire, build or improve residential properties.
University staff were particularly encouraged to explore the Cooperative housing arrangements as a possible means of facilitating access to housing.
UNILAG Announces Staff Home Ownership Support Loan
In a further demonstration of the University’s commitment to staff welfare, the Deputy Vice-Chancellor (Management Services), Professor Muyiwa Falaiye, provided information on the UNILAG Staff Home Ownership Support Loan Scheme .
The scheme has a provision of ₦500 million, approved by Council in 2026, to support eligible staff in acquiring their own homes. Under the initiative, confirmed staff who have served the University for at least 10 years are eligible to access loans of up to ₦10 million for senior staff and ₦5 million for other staff categories, at an interest rate of approximately 2 per cent.
The scheme builds on the University’s earlier housing loan initiative, which recorded a positive repayment history. It reflects UNILAG’s commitment to improving staff welfare and providing practical support towards home ownership. Further information on the application process and other requirements is expected to be communicated to staff.
Presentation of Gifts and Financial Literacy Fair
At the close of the seminar, gifts were presented to representatives of the four participating financial institutions: Meristem Securities, Imperial Homes Mortgage Bank, United Capital and the Federal Mortgage Bank of Nigeria (FMBN) in appreciation of their contributions and participation in the programme.
Thereafter, staff members proceeded to the Senate Lounge, First Floor, Senate House, for the Financial Literacy Fair and Engagement Session.
The fair provided an opportunity for staff to interact directly with representatives of the institutions, seek further clarifications on the financial products and services presented during the seminar, and explore options relevant to their individual financial goals.
It would be recalled that Day One of Registry Week 2.0 featured an awareness walk, a health talk and indoor games, all aimed at promoting Registry staff wellness, healthy living and social interaction among members of the University community (For more information on Day One of UNILAG Registry Week 2026, visit: https://unilag.edu.ng/unilag-registry-week-2026-kicks-off-with-emphasis-on-workplace-wellness/).
Report: Lynda Onah
Photograph: Joshua Micheal
