FINANCIAL INTELLIGENCE: A PANACEA TO POVERTY REDUCTION IN NIGERIA

E. Ben-Caleb, E. Faboyede, O. Olusanmi, B. Oyewo

Covenant University (NIGERIA)
There are at least five basic intelligences that an individual is expected to possess in order to maximise his or her life on the earth. These intelligences include spiritual, mental, physical, social and financial. Whereas all the different intelligences are important determinants of wellbeing, financial intelligence (FI) is pivotal for individual/family prosperity. Unfortunately, the configuration of Nigeria education curriculum at all levels does not include financial intelligence. This Lacuna in the educational system has been reckoned to have contributed to the ever increasing rate of poverty in Nigeria. This paper theoretically discussed financial intelligence as a panacea to winning the war against poverty in Nigeria. The discussion covered an overview of the laws of financial intelligence, personal financial statement, the psychology of wealth creation and sources of passive income as well as the process of financial freedom among others. The paper concludes that if financial intelligence is embraced at the same level with academic or spiritual intelligence, the incidence of poverty in Nigeria will plummet significantly.