Why Nigerians should link bank and pension accounts to their wills – Seedwills CEO

In a recent interview with Nairametrics, Kelvin Ojomo, the founder and CEO of Seedwills, stressed the significance of linking personal bank and pension accounts to wills. A will is a legally binding document that specifies how an individual's estate should be distributed after their death. By designating an executor, the testator ensures their final wishes are carried out and their loved ones are taken care of as per their wishes.

Without a will, individuals pass away "intestate," meaning the government's laws dictate the distribution of assets, often causing delays and family disputes.

Ojomo highlighted that misconceptions about will writing, such as it being expensive, complicated, or only for the elderly and wealthy, have discouraged many Nigerians from creating a will. With a population of over 250 million, nearly 111 million adults aged 18 and above should have a will, but currently, only eight in ten do not. Ojomo emphasized that these misconceptions are the primary reasons for the low adoption rate.

The process of creating a will through Seedwills is straightforward. The platform provides a consultant lawyer to guide users through the necessary content and instructions. Users physically sign the document with witnesses and then submit it to the courts. While technology can streamline this process, Nigeria still requires physical court visits.

Ojomo believes that integrating technology with financial institutions, such as linking bank and pension accounts to wills, would provide peace of mind and ensure the secure handling of financial assets upon death.