Experts stressed the significance of customizing wealth transfers to meet clients’ expectations and financial habits.
Elias Igbinakenzua, the CEO of Globus Bank, stated in his keynote speech that research indicates that in the next ten years, over $90 trillion will be transferred to the next generation, the bulk of whom are Gen Z.
“They are not like what we used to know in the past,” he said, pointing out that Gen Zs were thinking digitally. We have to adopt their way of thinking and develop a structure that will hold that money after it is transmitted.
“We have over $1 trillion in market capitalization in digital assets today, and we will lose if we don’t understand how that functions and impacts the economy because Gen Z thinks globally. Those of us who will be transferring assets to them need to think globally as well; if we don’t, the majority of them will leave our midst and enter the global sphere.”
When discussing Nigeria’s economic prospects, Tilewa Adebajo, CEO of The CFG Advisory, questioned if the population of the nation was a resource or a liability.
Any population without purchasing power is a liability, not an asset, in Adebajo’s opinion.
“We were able to overcome the challenges of the 2008 global financial crisis because of our careful physical planning during that time, but the fact that things have changed since then is the only reason we are facing these difficulties now.
“In order to diminish our value, we have persistently pursued the course of poor physical management. In a setting where poor physical management prevails, how can money be created, maintained, and even transferred? He continued.
Furthermore, Gbolahon Aina, the Managing Director of Cordros Assets Management, said, “The majority of Nigeria’s young people invest in digital assets. There are currently a lot of young Nigerians working in fintech, and I believe that with government assistance, their futures would be quite bright.
“I will counsel the young people of Nigeria to take advantage of this chance, invest in assets, educate themselves on investing, and don’t be scared to take chances.”
Wale Agbeyanji, the Group Managing Director of Cordros Capital, expressed his desire for the government to establish a business-friendly atmosphere for young Nigerians, allowing them to adapt to the global economic trends.
