The United Nations African Regional Centre for Space Science and Technology Education in
English (ARCSSTE-E), Nigeria held its 2026 first quarterly ‘in-house’ seminar titled “The
Smarter Civil Servant: Personal Finance in a Challenging Economy” on Wednesday
March 4, 2026, at its Space Museum located within Obafemi Awolowo University Campus,
Ile-Ife, Osun State. The seminar was aimed at encouraging knowledge-sharing, while
equipping staff with practical strategies for effective financial empowerment and resource
management in the face of prevailing economic challenges.
The interactive programme was graced by the Director of ARCSSTE-E, Engr. Dr. Seyi F.
Olatoyinbo, and some top Management Staff including Alhaji Abdulraheem Shuaib (Head,
Finance & Accounts), Mr. Samam Obaguo (Head, Administration) and Dr. Felix N. Buba
(Head, Postgraduate Programmes). Also in attendance were the Management and Staff of the
Centre. The seminar presentation commenced with the National Prayer, after which the
Management Staff, in attendance; were formally introduced.
The presentation was delivered by Mr.Temitayo O. Jejeniwa, an Accountant and Counter-Fraud
Expert, who addressed the topic by highlighting the current economic realities affecting civil
servants in Nigeria, including rising inflation, currency volatility, and relatively static salary
structures.
In his presentation, he asserted that while civil servants benefit from job ssecurity, pension
schemes, and access to cooperative loans, they also face limitations such as fixed income levels
and regulatory restrictions on engaging in full-time private business activities. He therefore
encouraged participants to adopt smarter financial habits that would help them preserve and
grow their income.
The presenter discussed several key strategies for effective financial management. These
included; adopting a value-preservation mindset, prioritizing savings before spending, and
applying the 50/30/20 budgeting rule, which allocates income into essential needs, personal
wants, and savings or investments. He also addressed the importance of responsible debt
management, advising staff to avoid high-interest digital loans and unnecessary borrowing for
depreciating assets.
Furthermore, the seminar highlighted legitimate investment opportunities available to civil
servants such as Treasury Bills, Mutual Funds, Cooperative Thrift Savings, Agricultural
Investments, and voluntary contributions to the Retirement Savings Account (RSA).
Participants were also encouraged to develop additional income streams through skill-based
activities such as tutoring, freelance digital services, or consulting outside official working
hours. The presentation also emphasized the need for future-proofing and risk management,
including maintaining health insurance coverage, continuous skill development, and
diversifying assets.
The seminar concluded with an interactive question-and-answer session, during which
participants sought clarification on several issues relating to investment opportunities, financial
discipline, and strategies for managing personal finances in a challenging economy.
Overall, the seminar provided valuable insights and practical guidance to staff on improving
financial stability and making informed financial decisions despite the current economic
realities.
Report written by Adenike Akinpelumi
Media & Corporate Communications Unit, ARCSSTE-E, Ile-Ife, Nigeria.
