Reflecting on her experience in the financial sector, Ibukun Awosika pointed out that many people who seem wealthy are, in reality, carrying significant debt.
She noted that the true state of a family’s finances often only comes to light after the death of a breadwinner, when creditors begin claiming assets.
Drawing from her time as a bank chairman, Awosika emphasized that outward appearances can be deceptive. She shared examples of individuals who “live large” while shouldering substantial financial obligations unknown to their spouses and children.
In her words:
“Sometimes you think your father has money. I was chairman of a bank. You’d be shocked how many people are in debt while living large. Until they pass away, their families don’t know what they really own. Very true. Please, trust me. I see it all the time at functions—people posing, acting big. Their children and spouses think they’re wealthy. The day that person dies, the family is in trouble because creditors will come for everything.”
