Businesswoman and former chairperson of First Bank of Nigeria, Ibukun Awosika, has disclosed that numerous prominent and wealthy Nigerians are heavily indebted, even as they project extravagant lifestyles in public.

She made the revelation during a preaching engagement where she addressed the realities of wealth and the importance of financial discipline.

Awosika emphasised that outward appearances frequently conceal the actual financial conditions of certain high-profile personalities.

“I was chairman of a very popular bank, and you would be shocked if I told you that 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’re,” Awosika said.

Drawing from her personal experience, Awosika revealed that for more than ten years she earned a higher income than her husband, who was steadily advancing his career in the public sector.

She noted that instead of allowing the disparity in earnings to generate tension, the couple treated it as an opportunity for collective progress and partnership.

Awosika advised married couples, particularly women, against permitting money to spark disputes in their homes, stressing that finances should serve as an instrument for joint advancement.

“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 said.

Known for her work in promoting entrepreneurship, leadership development, and financial literacy, Awosika’s statements have ignited widespread discussions across Nigeria regarding the true nature of wealth, public perceptions of affluence, and underlying financial vulnerabilities among the elite.