Ex-Envoy Challenges Women On Family Wealth Management

Nigeria’s former Ambassador to Greece, Ambassador Nimi Akinkugbe, has urged women in the country to exercise caution in managing their families’ wealth.

Akinkugbe gave the advice on Thursday while delivering a keynote address at the fifth anniversary celebration of Kilali Tribe, an all-women organisation in Port Harcourt, the Rivers State capital.

“In my banking career, I saw people create wealth in one generation, only for it to disappear in the second generation. It would not even last until the third generation. By the second generation, they were so used to the largesse that it was gone.

“I saw families who were very influential but lost everything due to financial setbacks caused by illness or death without insurance. One illness wipes out decades of savings.

“Don’t go bankrupt because you want to send your children to schools abroad. For us, the greatest education we ever had was at home. You can make out the difference,” she said.

In her welcome address, the convener of Kilali Tribe, Tonye Ifie-Sekibo, said the organisation had made a significant impact on many communities, particularly in the area of women’s development, over the past five years.

Ifie-Sekibo said: “Five years ago, 13 women from the Niger Delta met at a conference convened by the remarkable and delectable Dr Awosika. From that encounter, Kilali Tribe was born. Many of you might have heard the story.

“Dr Awosika, ma, wherever you are, we welcome you and celebrate you. We thank you for pouring so generously into the lives of women. What began then is bearing fruit today. That is a far-reaching impact.

“We came together as 13 voices, united by one purpose: to give back to society and build a network through which women could grow, support one another and create opportunities for others.

“Over these five years, we have mentored younger women. We supported women to attend Lagos Business School, covering all expenses, including accommodation, flights and training. We organised webinars and visited secondary schools to encourage young girls because that is where it all begins.”