By Chinenye Anuforo
Financial experts have urged Nigerians to exercise discipline by transitioning from traditional savings to structured wealth strategies to protect and grow their money.
Speaking during a roundtable interview, Chinwe Iwobi, Head of Wealth Management, and Feyisetan Akinyemi, Head of Treasury at FairMoney Microfinance Bank, warned that inflation has effectively turned idle cash into a silent drain on wealth.
Iwobi described inflation as a stealth tax that disproportionately affects individuals, who rely on low-yield savings accounts, noting that many Nigerians focus on interest earned without considering the real value of their money.
According to her, a typical savings account offering about five per cent interest delivers negative real returns when inflation remains in double digits.
“We focus on real returns; what your money is actually worth after inflatio, not just the interest you earn,” she said.
Iwobi added that traditional savings might grow balances but erode purchasing power over time.
She explained that an inflation-adjusted framework helps individuals determine whether their money is truly growing or losing value.
Iwobi added that technology is expanding access to wealth management by lowering entry barriers and costs. She said automation tools, including goal-based savings and reinvestment features, promote consistent wealth building.
On navigating the current climate, Akinyemi said interest rates alone are insufficient, stressing structure, discipline, and consistency.
“In a high-inflation environment, interest rates alone don’t solve the problem; we focus on structure,” she said.
She noted that structured savings options, such as goal-based plans and flexible high-yield accounts, help balance liquidity with returns, while enabling compounding.
Akinyemi stated that splitting funds across different time horizons also supports simple diversification, even within naira assets.
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