Leadway Urges Nigerians to Prioritise Estate Planning for Lasting Legacy

Leadway Group, led by Ebere Nwoji, has urged Nigerians to prioritize estate planning and structured wealth transfer over mere wealth accumulation. Senior staff member Adedoyin Aiyeola emphasized this point during a workshop for insurance and pension journalists in Lagos. Aiyeola pointed out that while many people focus on growing wealth through investments and business expansion, too few prepare for the transfer of assets, leaving families and businesses vulnerable to disputes, financial losses, and operational disruptions following the death or incapacity of a founder.

According to Aiyeola, wealth creation alone does not ensure a lasting legacy; effective wealth management involves three stages - creating wealth, protecting it, and transferring it. "Most people master the first journey. Few prepare for the third. The most enduring legacies are built by completing all three," she stated. The need for robust estate planning has grown with rising personal wealth, expanding family businesses, global investments, and the increasing prevalence of digital assets.

Aiyeola highlighted the importance of succession planning, citing the sudden death of Herbert Wigwe, former Group Chief Executive Officer of Access Holdings, and the subsequent succession disputes following the death of former Oyo State Governor, Chief Adebayo Alao-Akala. These examples underscore the necessity of clear governance structures to minimize family disagreements and protracted litigation.