Experts Outline Strategies on How Women Can Build Wealth

Nigerian women have been advised to explore multiple investment opportunities in order to build sustainable wealth.
The advice was given by Yewande Sadiku, Osayi Alile and Teju Abisoye.

They gave the advice at a webinar organised by Polaris Bank recently, as part of activities to celebrate women in line with the International Women’s Day celebration marked recently.

A statement from the bank quoted Sadiku, who is the Executive Secretary of Nigerian Investment Promotion Commission (NIPC) to have said: “For women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realise the future of their dreams.”

Drawing a metaphor, the NIPC boss and erstwhile senior investment banker explained that, “In building passive income, you shouldn’t eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow.”

Using personal examples to illustrate how she built her wealth starting out as a young banker at age 20, Sadiku explained that she seized the moment and had a vision of the life she wanted to live and started building passive income through multiple investment windows; setting aside a chunk of her earnings in buying stocks, investing in mutual funds as well as putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate.

On her own part, Alile, who runs Aspire Coronation Trust Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness.

She urged them not to be in unnecessary competition that brings little or no value in the long run.
In her own presentation, Abisoye, who is the CEO of Lagos State Employment Trust Fund (LSETF), said at her agency, they observed that women-run businesses have a larger impact on the community and society; adding that it was possible for women businesses to drive impact, while making a case for empowering women for greater and more widespread economic impact.

She advised young ladies – either in paid or self-employment to start with the end in mind, stating that, “once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a start-up as a budding entrepreneur.

Earlier in his welcome address, the acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike, explained that that the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’.

Ike noted that women empowerment and development were core to our sustainability goals and a key focus area of, “our social investments and business objective as a Bank. We have had some interventions in this area for impact.”

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