• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Don’t Rush Into Businesses You Know Nothing About, Stakeholders Warn Retirees

by Zaka Khaliq
1 year ago
in News
businesses
Share on WhatsAppShare on FacebookShare on XTelegram

Insurance and pension experts have warned retirees not to jump into businesses they knew nothing about at retirement in their quest to become overnight entrepreneurs.

Advertisement

The experts, who gave the advice at the Maiden edition of the 2024 Inspenonline Retirement Summit in GRA, Ikeja, Lagos recently said, most retirees have had their fingers burnt in the past by dabbling into businesses they knew little or nothing about, with their lump sum paid at the point of retirement.

The victim retirees, they said, relied on hearsay or fraudsters who cajoled them into investing in businesses that promised outrageous returns on investment at a short time, adding that some of the victims had gone into depression because both the money invested and the promised investment returns never came back.

The rector, College of Insurance and Financial Management (CIFM), Dr. Chizoba Ehiogu, said: “Don’t rush into a business or investment you don’t have enough experience in. When you retire, it should be the beginning of another journey to drive your passion.”
She urged the current workers to pay attention to their health while still active because a healthy body is needed to retire without tears.

On his part, the former managing director/CEO, FBN Insurance Limited (now Sanlam Life), Val Ojumah, said, life in retirement depends on relationships kept while one was working, saying, the awful part of retirement is loneliness.

RELATED

Theft Of Farm Produce Spreads Across Nigeria

Bandits Driving Us Away From Our Farms – Plateau Farmers

22 seconds ago
Omoluabi Movement Will  Deepen Progressives Ideology, Says Aregbesola

Aregbesola Woos Oyinlola To ADC In Surprise Visit

4 minutes ago

While advising people on how to retire without tears, Ojumah, who is now a retiree, said: “Those who retire in tears are those who never acknowledge that they will retire one day, while in service. Don’t choose expensive passion, moderate your passion with some reality checks, try to buy health insurance, don’t start any business you are not familiar with, buy an endowment plan when you are still working. Integrate with the community.”

Chairman of the event who is a past president, Chartered Insurance Institute of Nigeria (CIIN), Fatai Lawal, implored the public to give adequate consideration to retirement as it would come whether they prepared or failed to prepare for it.

The chairman, Association of Pension Desk Officers in government parastatals, Nze Peter Nze, while lamenting the salary package for civil servants is too meagre to give them a life without tears in retirement, urged insurance companies to conceptualise projects for civil service and government retirees, affirming that, his group is ready to partner insurance industry on this.

The former managing director!CEO of Allianz Insurance said, most people who entered into retirement unprepared were because they lacked financial planning, noting that each worker should have a financial planner who will guide them on the best investment options and helps in the management of one’s wealth.

She said, most people who entered into retirement unprepared were because they lacked financial planning, noting that each worker should have a financial planner who will guide them on the best investment options and help in the management of one’s wealth.

According to her, “retirement isn’t an ending, it’s a magnificent new beginning – a chance to unleash your resilience and craft a fulfilling future that transcends the confines of your workplace. Don’t be passive participants in your own retirement! Raise your voice, ask questions, and engage experts, network to create a personalised retirement plan that ignites your passions and fuels your dreams. Together, we can redefine retirement, making it a time not just for financial security, but also for purpose, passion, and lifelong exploration.

“Financial security is crucial, of course. But true fulfilment comes from a life rich in purpose, connection, and continuous growth. Embrace personal transformation as you plan for the future. Explore your passions, reconnect with loved ones, and consider ways to contribute your skills and knowledge to the world. Retire from your job, but never retire from your passions; the greatest adventures await you in this next chapter.”

The promoter of the summit and the publisher/CEO, Inspenonline, Chuks Udo Okonta, stressed that the summit was conceptualised from findings that revealed most people enter into retirement unprepared, hence, a forum to prepare Nigerians for retirement earlier in their working life.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Union Bank Attains Certifications On Data Security

Next Post

Providus Bank Empowers 60 Entrepreneurs With Access To Funding, Market

Zaka Khaliq

Zaka Khaliq

You May Like

Theft Of Farm Produce Spreads Across Nigeria
Cover Stories

Bandits Driving Us Away From Our Farms – Plateau Farmers

2025/07/30
Omoluabi Movement Will  Deepen Progressives Ideology, Says Aregbesola
Cover Stories

Aregbesola Woos Oyinlola To ADC In Surprise Visit

2025/07/30
Soludo Gets 48 Hours To Replace Obi, Umeh Campaign Billboards
News

2027: Ohanaeze Denies Asking Obi To Pull Out Of Presidential Race

2025/07/29
Super Eagles: Apologise To Nigeria, Senate Tells Libya
News

Senate Condemns Anti-Nigerians Protest In Ghana

2025/07/29
PICTORIAL: Tinubu Offers Automatic Job, Scholarships, Cash To 210 Ex-Corps Members
News

PICTORIAL: Tinubu Offers Automatic Job, Scholarships, Cash To 210 Ex-Corps Members

2025/07/29
After Party’s Endorsement As Deputy Speaker, Kalu Withdraws From Speakership Race
News

Deputy Speaker Kalu Withdraws Indigeneship Bill For Further Consultations

2025/07/29
Leadership Conference advertisement

LATEST

Bandits Driving Us Away From Our Farms – Plateau Farmers

Aregbesola Woos Oyinlola To ADC In Surprise Visit

2027: Ohanaeze Denies Asking Obi To Pull Out Of Presidential Race

Senate Condemns Anti-Nigerians Protest In Ghana

PICTORIAL: Tinubu Offers Automatic Job, Scholarships, Cash To 210 Ex-Corps Members

Deputy Speaker Kalu Withdraws Indigeneship Bill For Further Consultations

Fosh Stirs Political Waters, Unveils Tinubu Grassroot Network

Police Arrest Ex-Convict For Vandalism, Theft In Bauchi

NDLEA Auctions Forfeited Properties Of Drug Traffickers

Police Arrest 5,488, Rescue 170 Kidnap Victims In 2 Months

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.