Renowned Nigerian business leader Ibukun Awosika has warned that many Nigerians who appear wealthy are, in reality, burdened by heavy and hidden debt.
Speaking from her experience in the financial sector, Awosika said outward displays of affluence often mask serious financial obligations unknown to family members.
She explained that some households only discover the true extent of debt after the death of a breadwinner, when creditors surface to claim properties and assets.
Drawing from her time as chairman of a major bank, Awosika noted that she regularly observes individuals living lavishly despite being deeply indebted.
According to her, spouses and children are often left shocked and financially exposed when the truth eventually emerges.
She cautioned families against mistaking lifestyle for wealth, stressing that financial transparency and responsible planning are crucial to long-term stability and legacy protection.
