Nigerian entrepreneur and former bank chairperson Ibukun Awosika has cautioned families against equating outward displays of wealth with true financial stability.

Speaking from her experience in the banking sector, Awosika revealed that many individuals who appear prosperous are, in reality, burdened by significant debts. According to her, the illusion of affluence often masks serious financial liabilities unknown to close family members.

She explained that in some instances, the true state of a family’s finances only becomes clear after the death of the primary breadwinner, when creditors begin laying claims to properties and assets.

“Sometimes you think your father has money. I was chairman of a bank. You’ll be shocked how many people are in debt that are living large. Until they die, their families don’t know what they really have,” she said.

Awosika added that she has witnessed situations where spouses and children believed they were financially secure, only to discover hidden debts later.

“You know, I go to functions sometimes, sit down and watch people. I always smile. Empty posing. It’s true. Their children, their wives think they are acting big. The day that guy drops dead, they’re in trouble. Because they’re going to come for everything.”

Her remarks have sparked conversations about financial transparency, responsible living, and the dangers of maintaining appearances at the expense of long-term security.

See some comments and the video below

@observe_observe___"Well if you think Elon Musk has 600 billion then you’re d type she’s talking to. Even Elon is in debt to banks but he got asset collateral to back up his debts. So he’s literally not in debt. Dangote got the refinery on debt, he’s still in debt but has the asset collateral for it"

@tonyveezy___"lol not all debt are bad debt. In the western world, a significant percentage of the millionaires and billionaires are in debt. Not bcs they can’t afford to pay off the debts but bcs they’re leveraging on the system."

@Kukacmor___"“Character as inheritance” As I no come get money , I get character. Character is also an asset."

@kingabasalito___"Yoruba movies exposed most of these rich people, we all think it’s a joke"

@MwitiGitosh__"Cash flow is a beast to manage, I don't get why people act like money grows on trees. If you’ve reached a spot where you don’t need a loan or a handout to survive, you’re already in the 1%."

@Iam_Eflexy___"While This May Be Right, Most Of These People May Be Broke In Liquid Cash but Have Stacks of Assets That Are In Multiple Folds of That Debt."

“You think your father has money? I was chairman of first bank, you’ll be shocked how many people are in debt that are living large. I see them at functions I just laugh. Until they kick bucket, their families don’t really know what they have.

-Pastor Ibukun Awosika pic.twitter.com/an0R2frql9

— Arthur🇳🇬🇬🇧🇸🇳 (@AjMachalaa) February 24, 2026