- Ibukun Awosika, a Nigerian entrepreneur and former bank chairperson, warns families about hidden debts and misleading appearances of wealth.
- She emphasizes that many individuals who appear financially secure may actually be burdened by significant liabilities.
- Awosika highlights the disparity between outward wealth and true financial stability, urging caution in assessing financial health.
Nigerian entrepreneur and former bank chairperson Ibukun Awosika has advised families to be wary of concealed debts and the false appearance of prosperity.
Reflecting on her years in the banking industry, Awosika explained that many people who seem financially comfortable are, in truth, weighed down by substantial liabilities. She pointed out that wealth on the surface does not always reflect financial stability behind closed doors.
She further revealed that in some cases, families only come to understand their real financial situation after the passing of a primary provider, when creditors begin to step forward with claims against properties and other assets.
Drawing from her experience as a bank chairman, Awosika stressed that flashy lifestyles can be deceptive. According to her, some individuals maintain extravagant living standards while secretly managing heavy debts burdens their spouses and children may know nothing about.
She said in part …
“Sometimes you think your father has money. I was chairman of a bank. You’ll be shocked how many people are in debt that are living large. Until they die, their families don’t know what they really have. Very true. Please, trust me. There are many names. You know, I go to functions sometimes, sit down and watch people. I always smile. Empty posing. It’s true. You know, their children, their wives think they are acting big. The day that guy drops dead, they’re in trouble. Because they’re going to come for everything.”
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