Assessment of Financial Literacy Among Undergraduate Business Education Students in University of Maiduguri

This study assessed the level of financial literacy among undergraduate Business Education students at the University of Maiduguri, North East Nigeria. Financial literacy, encompassing knowledge of budgeting, saving, investment, credit management, and financial planning, is a core life skill and a professional competency for business education graduates. The University of Maiduguri, operating in a post-insurgency environment, faces unique challenges in delivering comprehensive financial education, making this study particularly relevant for understanding outcomes in conflict-affected academic settings. A descriptive survey design was adopted. The population comprised 350 undergraduate Business Education students across 100 to 400 levels at the university. A sample of 175 students was selected through stratified random sampling. A validated Financial Literacy Assessment Instrument comprising 50 multiple-choice items across five financial knowledge domains was used for data collection. Descriptive statistics including mean and standard deviation were computed. Findings reveal moderate financial literacy levels, with strong performance in budgeting and saving but weak knowledge of investment instruments, insurance products, and retirement planning. Students with part-time work experience recorded significantly higher financial literacy scores. The study recommends that the Department of Business Education at the University of Maiduguri should institutionalize a dedicated Financial Literacy course as a compulsory unit and incorporate real-world financial decision-making simulations into the curriculum. Keywords: financial literacy, business education, undergraduate students, University of Maiduguri, North East Nigeria