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Impact of Student-Run Financial Literacy Programmes on Financial Education Competence among Accounting Education Students in Nigerian Universities

Abstract

Financial education competence is an important professional skill for Accounting Education students because it enables them to understand financial concepts, communicate financial information, and support individuals and communities in making informed financial decisions. Accounting Education students are expected not only to acquire accounting knowledge but also to develop the ability to explain financial concepts such as budgeting, saving, borrowing, investment, financial planning, and responsible money management to others. However, conventional classroom instruction may provide limited opportunities for students to apply their financial knowledge in practical educational settings. Student-Run Financial Literacy Programmes provide students with opportunities to plan, organize, deliver, and evaluate financial literacy activities for members of the university community and other target groups. Participation in such programmes may strengthen students' financial knowledge, communication ability, instructional competence, practical application of financial concepts, and confidence in delivering financial education. Against this background, this study investigates the impact of Student-Run Financial Literacy Programmes on financial education competence among Accounting Education students in Nigerian universities. The study will be anchored on Experiential Learning Theory, Social Cognitive Theory, and Human Capital Theory. Experiential Learning Theory explains how students develop competence through direct participation, reflection, conceptualization, and active experimentation. Social Cognitive Theory emphasizes observational learning, modelling, self-efficacy, feedback, and interaction with others in the development of skills and professional behaviour. Human Capital Theory explains how investment in relevant knowledge and practical competencies enhances students' productivity, employability, and professional effectiveness. Collectively, these theoretical perspectives provide a suitable framework for explaining how participation in Student-Run Financial Literacy Programmes may influence financial education competence among Accounting Education students. The study will adopt a quantitative quasi-experimental research design. The population will comprise Accounting Education students enrolled in selected Nigerian universities. A multistage sampling technique will be used to select states, universities, departments, levels of study, classes, and eligible students. Data will be collected using structured questionnaires, financial education competence assessment scales, financial literacy teaching tasks, programme participation records, observation checklists, practical performance rubrics, lesson and presentation assessments, and pre-test and post-test instruments. Student-Run Financial Literacy Programmes will be assessed using indicators such as programme planning, financial literacy topic selection, identification of target participants, needs assessment, programme scheduling, development of educational materials, preparation of teaching aids, budgeting education, saving education, income management education, expenditure management education, personal financial planning, debt management education, responsible borrowing education, credit awareness, interest-rate education, investment education, risk-management education, insurance awareness, financial goal setting, emergency-fund education, banking education, digital banking awareness, electronic payment education, financial technology awareness, financial fraud awareness, financial security education, consumer financial rights, financial decision-making education, financial record keeping, financial information interpretation, financial terminology, financial communication, financial counselling, classroom presentation, community presentation, peer education, group facilitation, question-and-answer sessions, practical demonstrations, case-study activities, scenario-based financial education, use of digital educational platforms, use of financial literacy materials, participant engagement, feedback collection, programme evaluation, and continuous improvement. Students' financial education competence will be assessed using indicators such as knowledge of financial concepts, ability to explain financial terminology, ability to prepare and interpret budgets, ability to explain saving strategies, ability to explain income and expenditure management, ability to develop personal financial plans, ability to explain debt and credit management, ability to explain responsible borrowing, ability to explain interest calculations, ability to explain investment concepts, ability to explain financial risks, ability to explain insurance principles, ability to set financial goals, ability to explain emergency savings, ability to explain banking services, ability to explain digital banking, ability to explain electronic payments, ability to identify financial fraud risks, ability to explain financial security measures, ability to explain consumer financial rights, ability to guide financial decision-making, ability to maintain financial records, ability to interpret financial information, ability to communicate financial information clearly, ability to respond to financial questions, ability to facilitate financial literacy sessions, ability to use appropriate teaching methods, ability to prepare financial education materials, ability to use practical examples, ability to use financial scenarios, ability to engage learners, ability to provide accurate financial information, ability to adapt explanations to different audiences, ability to use digital financial education tools, ability to evaluate learners' understanding, ability to provide constructive feedback, ability to demonstrate professional confidence, and overall financial education competence. Descriptive statistics will be used to summarize students' demographic and academic characteristics, programme participation, financial literacy experiences, and financial education competence levels. Inferential statistical techniques, including paired and independent t-tests, analysis of covariance (ANCOVA), correlation analysis, and multiple regression analysis where appropriate, will be used to determine the impact of Student-Run Financial Literacy Programmes on students' financial education competence. Where a quasi-experimental design is adopted, financial education competence scores before and after participation in the programme may be compared with those of a control group receiving conventional classroom instruction to determine changes associated with the intervention. Diagnostic tests will also be conducted to assess the reliability, validity, and robustness of the findings. The study is expected to find that Student-Run Financial Literacy Programmes have a significant positive impact on financial education competence among Accounting Education students in Nigerian universities. Students who participate in structured financial literacy programmes are expected to demonstrate improved ability to understand, explain, communicate, and apply financial concepts in practical educational situations. Programme-planning activities may strengthen students' ability to organize financial education initiatives. Topic-selection activities may improve their ability to identify relevant financial literacy issues. Needs-assessment activities may strengthen students' ability to identify the financial information needs of target participants. Budgeting activities may improve students' ability to explain income allocation, expenditure planning, and financial control. Saving activities may strengthen their ability to communicate the importance of regular saving and financial goal setting. Income- and expenditure-management activities may improve students' ability to explain responsible money management. Personal financial-planning activities may strengthen students' ability to develop practical financial plans. Debt-management and responsible-borrowing activities may improve their ability to explain credit obligations and borrowing decisions. Interest-rate education may strengthen students' ability to explain the financial implications of borrowing and saving. Investment education may improve their ability to communicate basic investment concepts and risk considerations. Risk-management and insurance activities may strengthen their ability to explain financial protection strategies. Financial-goal-setting activities may improve their ability to guide participants in establishing realistic financial objectives. Emergency-fund education may strengthen their ability to explain preparation for unexpected financial needs. Banking activities may improve students' understanding of banking services and their ability to explain these services to others. Digital-banking and electronic-payment activities may strengthen their ability to communicate information about contemporary financial services. Financial-technology activities may improve their understanding of technology-supported financial services. Fraud-awareness activities may strengthen students' ability to identify and communicate common financial risks. Financial-security activities may improve their ability to educate participants on protecting financial information and financial accounts. Consumer-rights activities may strengthen their ability to explain basic consumer financial protections. Financial-decision-making activities may improve their ability to guide participants in evaluating alternative financial choices. Financial-record-keeping activities may strengthen students' ability to maintain and explain personal financial records. Financial-information interpretation may improve their ability to analyse and communicate financial information accurately. Financial terminology activities may strengthen students' ability to explain accounting and financial terms in accessible language. Financial communication activities may improve their ability to present financial concepts clearly to different audiences. Financial counselling activities may strengthen their ability to respond appropriately to basic financial questions. Classroom and community presentations may improve students' public-speaking and instructional competence. Peer-education activities may strengthen their ability to teach financial concepts to fellow students. Group-facilitation activities may improve their ability to manage financial literacy discussions. Question-and-answer sessions may strengthen students' ability to respond accurately and confidently to participants' questions. Practical demonstrations may improve their ability to translate theoretical financial concepts into understandable examples. Case-study activities may strengthen their analytical and problem-solving abilities. Scenario-based financial education may improve their ability to apply financial knowledge to realistic situations. Digital educational activities may strengthen their ability to use online platforms and digital resources for financial education. Development of financial literacy materials may improve students' ability to prepare appropriate educational content. Participant-engagement activities may strengthen their ability to maintain learners' attention and participation. Feedback collection may improve students' ability to identify areas requiring improvement. Programme evaluation may strengthen their ability to assess the effectiveness of financial education activities. Continuous-improvement activities may encourage students to refine their teaching and communication approaches. However, the effectiveness of Student-Run Financial Literacy Programmes may be constrained by inadequate funding, limited access to financial education materials, insufficient training in financial literacy facilitation, large student groups, limited programme duration, inadequate institutional support, weak community partnerships, limited access to digital resources, unreliable internet connectivity, inadequate electricity supply, low participant attendance, limited supervision, insufficient feedback, and weak integration of practical financial literacy activities into Accounting Education curricula. The study therefore expects structured, practical, student-led, adequately supervised, and community-oriented Student-Run Financial Literacy Programmes to contribute significantly to improved financial education competence among Accounting Education students in Nigerian universities. The study is expected to contribute to the literature on Student-Run Financial Literacy Programmes, financial education competence, financial literacy education, Experiential Learning Theory, Social Cognitive Theory, Human Capital Theory, Accounting Education, practical accounting education, financial literacy, personal financial management, budgeting education, saving education, debt management, credit education, investment education, financial planning, banking education, digital financial literacy, financial technology, financial fraud awareness, consumer financial education, financial communication, peer education, community financial education, instructional competence, professional competence, employability skills, workplace readiness, Accounting Education students, Nigerian universities, and financial education in Nigeria. The findings will provide useful information to the National Universities Commission, university administrators, Accounting Education departments, accounting educators, curriculum developers, financial institutions, financial-technology organizations, financial literacy organizations, professional accounting bodies, development partners, and policymakers regarding strategies for strengthening students' practical financial education competencies. The study will also provide evidence-based recommendations for integrating Student-Run Financial Literacy Programmes into Accounting Education programmes, establishing structured student-led financial education initiatives, providing appropriate financial literacy teaching materials, strengthening students' financial communication and facilitation skills, incorporating practical budgeting, saving, investment, banking, and financial-planning activities, expanding university-community financial literacy partnerships, providing adequate supervision and feedback, and aligning Accounting Education programmes with contemporary financial education and community engagement requirements in Nigeria.

Keywords: Student-Run Financial Literacy Programmes, financial education competence, financial literacy, financial education, Accounting Education students, budgeting, saving, financial planning, debt management, investment education, digital financial literacy, banking education, financial communication, experiential learning, Nigerian universities, Nigeria.