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Thursday, February 26, 2026

Entrepreneur Ibukun Awosika Reveals Many Wealthy Nigerians Are Broke Behind the Scenes

A Viral video shows Businesswoman Ibukun Awosika warning that many high‑profile and wealthy Nigerians are heavily indebted despite their extravagant public lifestyles. 


Awosika, who once served as chairman of a major Nigerian bank, said she had seen firsthand how some of the country’s most prominent figures lived on borrowed money while projecting an image of affluence.

She added that in many cases, their families only discover the true state of their finances after their death. “Many wealthy Nigerians, very big names, are living in debt while maintaining a lavish public lifestyle. Until they die, their families often don’t even know the true state of their finances and how broke they are,” 

She talked about her journey and revealed that for more than a decade she earned more than her husband while he steadily built his career in the public sector.She explained that instead of allowing the income gap to create tension, they treated it as a foundation for teamwork and mutual growth. 

She urged couples, especially women, not to let money become a source of conflict in marriage, and described it as a tool for building and achieving shared goals and not a measure of power or ego. “So when I say do not make money an issue in your home, I mean it. Money is a tool. Use it to achieve things together, whether it comes from the man or the woman. One plus one is one. It is not mathematics,” she added.

22 comments:

  1. This is one woman I respect and admire apart from my late mum.
    So full of wisdom and experience👌

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  2. Shes right, the act of consumerism is becoming a lifestyle for the younger generations. You’ll see even young people splashing millions of naira on rent and furnishing their rented apartment to their taste. When you ask them if they have any assets or investment, you’ll find out they have none. People should learn to leave below their means, the classism in the country is also a contributing factor to the problem.

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    Replies
    1. Read between the lines and decipher who fits in as "some of the country’s most prominent figures lived on borrowed money while projecting an image of affluence".

      Do you think she's referring to the younger generation?

      Another comment down here even mentioned yahoo boys! How are they some of the country's prominent people???🤦🏿‍♀️🤦🏾

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    2. Honestly Anony, I wonder if people actually understand her message

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  3. When this lady talks, I grab a pen and paper. It is unfortunate we don't have sound people like this in political spaces in Nigeria.

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  4. I enjoy listening to Mrs. I.A. She's good!

    One shouldn't be surprised about what she said, packaging and rebranding to step up is the thing now.

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  5. One of my beautiful Mentors. God bless you Momma 🥰

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  6. This woman is full of wisdom and i love her preaching

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  7. Beautiful, smart and intelligent woman. A wise woman builds her home .

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  8. The issue of people splashing huge amount of money on rent is so true. Ontop that, they park a very expensive car in front of that house but they have no land, no investment or whatever. Fake life is already becoming the end of many. It is just a case of spending money we don't have to impress people that don't even like us. Just trying to re-echo the thoughts of @Babieee

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  9. Beautiful version of Whoopi.

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  10. Reminds me of that BV with the sibling who wants her to fund their Gwagon.

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  11. But the country and society is fake and shallow with all its core foundations in jeopardy. Hence this generation is living up to expectations.
    Show me a country where rent is not regulated and a landlord who built 100-10 years ago wakes up and increases rent by 100% to test the waters, then overnight leapfrogs it to 300% and 500% with justifications while the government and everyone keeps mute. Should the youths go live under the bridge or return to their rural villages as advised by some? No, as one of the smartest on earth, they will device means to meet their needs-house and car is a necessity but LUXURY in Nigeria and since our nature is to oppress each other, they will keep faking it till it becomes real even if it is by borrowing, obtaining by tricks, kidnapping, blood ritual, human or drug trafficking etc. “Na who them catch na him be thief.” Who cares about saving for 35 years and still being unable to own even 10x10 plot of land to build a shanty in a nation where real estate is overpriced beyond the reach of the common man. And even the so called “low cost” houses provided are competing favourably with those built by ‘investors.?’
    Show me a country where the youth spend 8 -10 years for tertiary education of 4 years without assurance of securing employment and even if they do, they are underemployed or work in pseudo companies with only transport fare paid as monthly salary and 'benefits' arrogantly while they are expected to go and receive their real source of income from God knows where. Where are the labour market regulators? They are busy collecting annual dues, giving meaningless speech and attending ‘meetings’ while galivanting with those they ought to call to order or sanction. How can graduates earn N50,000 as salary and master's degree holders earn N100-200k even in the midst of this demonic inflation and yet expected to üpskill" when even their basic needs is still a far-fetched luxury. Able-bodied men and women are wasting away with meaningful source of mobilization to help themselves. And even when they try to do, they are taxed and billed and bullied until depression and suicide while every one is playing blind and happy?
    Show me a nation where servants hired to serve the people eat and live in stupendous abundance while those they are supposed to serve are starving day in day out and groping in deep darkness while paying for power supply monthly from year to year.
    Show me a land where truth is whispered, drowned and silenced with splendour and squander in peacock array. Yet, that nation has the brightest minds building other nations all over the world.
    A society and country that thrives in delusion, impression and oppression, fakery and all forms of abomination right from the home to the schools to the institutions of work and leadership. And they have also become notorious in other nations with reckless abandon.


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  12. Wisdom full your head Mama. You said nothing but the truth

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