Field studies were conducted over two successive seasons to test the effects of maize-legume intercropping system on fall armyworm (FAW) (Spodoptera frugiperda (J.E. Smith)) and if insecticide use was necessary in intercropping systems. Three insecticide treatments [no spray, Emastar 112 EC (a.i. emamectin benzoate 48 g/L + acetamiprid 64 g/L), Neem seed oil (NSO) (a.i. 3% azadirachtin)] and three intercropping systems [sole maize (Zea mays L.), maize + soybean (Glycine max (L.) Merr.) and maize + groundnut (Arachis hypogaea L.)] were arranged as a 3 × 3 factorial experiment in a randomized complete block design. Data were collected on FAW larval infestations, parasitism rates, damage, grain yield and gross financial returns. Results from combined-years analyses showed that larval infestation was significantly affected by intercropping (p = 0.034) only, with maize + soybean recording the lowest infestation while sole maize was highest. Damage to crop and cobs were significantly affected by years and insecticide treatments. Cob damage was also significantly affected by intercropping system with maize + soybean being lowest and sole maize recording the highest damage. Parasitoids recorded were Coccygidium luteum, Chelonus bifoveolatus, and Charops sp. Grain yield was significantly affected by the intercropping systems only (p = 0.004), with no significant year (p = 0.152), insecticide (p = 0.726) and insecticide × intercropping system (p = 0.660) effects. Sole maize (1.6 t/ha) had the lowest yield while maize + groundnut (2.2 t/ha) was highest. In terms of income, an economic analysis showed that spraying intercropped maize with NSO resulted in the highest marginal rate of return. Thus, the use of NSO and intercropping is an effective FAW management strategy.