By Abdul-Mumin Abdul-Quadir
* Says ethics, savings key to sustainable financial growth
Seasoned technocrat Engr. Abdul-Hafeez Ajibade has urged Muslim professionals to create multiple streams of income as a survival strategy amid Nigeria’s current economic challenges.
He made the call while speaking at the Annual Professional Day of the Global Impact Professionals, themed “Smart Muslims, Multiple Streams: Pioneering Solutions for Today’s Economic Challenges,” held on Sunday, October 12, at LKJ Hall, LASU-Isheri, Lagos.
Muslim News gathered that the program featured sessions with professionals and experts, strategic insights, trade and services exhibitions, networking opportunities, games, and much more.
According to Engr. Ajibade, “Create multiple streams of income for yourself. And when the money starts coming in, don’t just increase your standard of living — increase your standard of saving too. What you save today can fund future investments or businesses.”
He however warned that success without ethics is hollow and harmful. According to him, “No matter how skilled or knowledgeable you are, without ethics, you’re going nowhere. In fact, it makes you dangerous — the kind of medical experts without ethics are the ones harvesting human organs.”
While speaking on the topic, “Building Financial Resilience Through Diverse, Purpose-Driven Ventures” he stressed that even the most competent professionals will lose clients if they fail to treat people right. “How then would you get referrals?” he asked.
He emphasized the importance of ethics in the professional and entrepreneurial journey, warning that expertise without moral values is both detrimental and destructive.
He said, “As you delve into business or become entrepreneurs, do not underestimate ethics. No matter how knowledgeable or skilful you are, without ethics, you’re going nowhere.
“In fact, knowledge and skills without ethics make you a dangerous person that people don’t want to deal with. Medical experts that ethics are the ones harvesting human organs. So, no matter how good you are, people won’t come back if you don’t treat them right. How then would you get referrals?”
He encouraged participants to be visionary and pursue their goals with passion and purpose.
“You must see yourself in the future you desire. You can’t feature in the future you can’t picture. Dream big, take full responsibility for your life, work diligently to realise your aspirations, and find a good mentor to guide you.”
He also appealed to policymakers to provide an enabling environment for entrepreneurs and business owners. Ajibade advised professionals to collaborate, form consortiums when necessary, and avoid unnecessary borrowing, noting that “borrowing doesn’t improve one’s living conditions.”
Entrepreneur Shares Hard Lessons on Mentorship, Growth in Footwear Business
Practical insights were also shared during a three-man panel session at the event. One of the panellists, Hajia Kifayat Alejo, a builder and footwear entrepreneur, shared her experience of running into major losses due to starting her business without proper guidance.
“I thought I knew Lagos Island well, since I grew up there. So, I ventured into the footwear business, buying different types of shoes for resale. Unfortunately, I bought at very high prices and couldn’t distinguish the genuine products from the substandard ones. That first attempt ended in a huge loss,” she said.
Hajia Alejo explained that things turned around after she connected with a fellow Muslimah already in the business, who introduced her to trusted suppliers offering better quality at lower prices.
“That experience taught me never to underestimate the value of mentorship. Since then, I’ve continued to grow in the business by learning, networking, and seizing new opportunities,” she added.
She recounted how a customer became a brand promoter due to her transparency. “There was a time a non-Muslim customer mistakenly sent more than the agreed price for an item. I called her immediately and returned the excess. It wasn’t a huge amount, but she was really surprised. Since then, she has consistently recommended my business to others,” she stated.
Alejo concluded by urging Muslim professionals to deal fairly with their lenders and investors, emphasizing that ethical conduct builds lasting success.
Chartered Accountant urges professionals to embrace creativity for financial growth
Chartered Accountant and CEO of Tsamer Nigeria Ltd, Taofik Olanrewaju Ajao, called on the professionals to stop making excuses and take proactive steps toward improving their financial status.
“Avoid excuses. Just find a way to do what has to be done. If you’re finding excuses for yourself, you will not do anything,” he said.
Speaking on “income diversification” , Mr Ajao encouraged creativity, advising professionals to explore entrepreneurship, consulting, or even revitalizing family businesses.
“Business is not for the weak. You need strong will and faith to survive. The going might get tough, but you must stay committed,” he added.
He added that business and entrepreneurship require unwavering dedication and grit
“You have to be strong in will and faith. Business is not for the weak. The going might get tough sometimes, so you have to be up to the task.”
Director of calls for persistence in pursuing dreams
Alhaji Abdul-Hameed Balogun, Director of Al-Iman Schools, encouraged professionals not to give up on their dreams, drawing from his own experience.
“I nursed the dream of owning a school from 1999 until 2013. It took years to get started, but if I had given up, it wouldn’t have become a reality,” he said.
He warned that many bring hardship upon themselves by quitting too soon.
“Many people suffering from poverty today caused it by giving up early. I’ve faced losses too—losing hundreds of birds in my poultry business—but I keep going without regrets.”
Balogun advised everyone to plan strategically in their careers, businesses, and other pursuits to achieve lasting success.
Nigerian Universities Working to Liberate Youth Financially — Prof. Idowu
Also speaking at the event, Professor Khadijah Idowu, Head of the Department of Accounting at Lagos State University and a member of Global Impact Professionals, commended the initiative, describing it as timely and impactful.
She highlighted the need for stronger collaboration among Muslims, saying, “The truth is that many Muslims are doing well in their various fields. We are calling the shots in different professions, but unfortunately, we often isolate ourselves. We shy away from connecting with fellow Muslims to build together.
“However, the speakers at this event have shown us the importance of reaching out, collaborating, and growing together. It has truly been a refreshing and inspiring session.”
Speaking on the efforts toward financial independence, Prof. Idowu disclosed that Nigerian universities are actively working to equip students with the skills to become self-reliant.
“Today’s economic realities affect everyone. That’s why institutions across the country are taking entrepreneurship more seriously than ever. Every student, regardless of their course of study, must now take management and entrepreneurship courses,” she said.
She added that the aim is to ensure graduates can stand on their own in their chosen fields, generate income while job hunting, and have alternative income streams even after securing employment.
Attendees praise organisers, urge greater reach
Professionals who attended the event commended the organizers and encouraged them to expand its impact.
Umaamah Sadiq shared, “I’ve learned a lot today and realized I need to think and act differently. Kudos to the organizers. I hope more people can attend the next edition and benefit from these valuable lessons.”
Engr Abdul-Hafeez Abdur-Rahman said, “The program was excellent and exceeded expectations. The keynote speaker and panelists delivered exceptionally. Learning how to multiply my income streams has been a real eye-opener. Many thanks to the organizers.”
GIP also awarded deserving individuals as follows: Prof. Imran Ademola Adeleke, Prof of Information System and Dean College of Information Technology Education; Academic Excellence Award, Maroof Adeola; Fisrt Class Graduate AFIT school 2024.
Also awarded were Nofisat Yusuf, Habeeb Oladipupo Aberejo; Best Undergraduate Project, Nigeria Computer Society Lagos state 2025, Engr. Hafeez Ajibade; Keynote speaker, Alhaji Taofeek Ajao; Discusant, Alhaji Abdulhameed Balogun; Discussant and Hajia Rufaiyat Alejo; Discussant.
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