In a decisive move to reshape how Nigerians manage and secure their financial legacies, First Trustees Limited, a premier fiduciary and trusteeship firm, has launched a major advocacy campaign to reposition estate planning as a central pillar of wealth creation. The company, which is a key subsidiary of the financial powerhouse FirstHoldCo Plc, is calling on entrepreneurs, investors, middle-class professionals, and high net-worth individuals to dismantle the traditional perception of estate planning as merely an end-of-life administrative chore. Instead, the institution is advocating for its integration as an active, strategic instrument for safeguarding assets, protecting family businesses, and ensuring seamless intergenerational wealth transfer.
The timing of this campaign is particularly significant given the current macroeconomic shifts in Nigeria’s financial services landscape. Under its parent group, FirstHoldCo Plc which officially rebranded from its historical identity as FBN Holdings Plc to reflect a modernized, customer-first holding structure the group has continued to consolidate its leadership across banking, asset management, and trusteeship sectors. As Nigerian investors increasingly diversify their portfolios into real estate, global equities, digital assets, and high-growth businesses, the need for robust institutional frameworks to shield these assets from inflation, legal disputes, and administrative delays has become paramount.
Speaking extensively on this structural financial need, the Managing Director and Chief Executive Officer of First Trustees Limited, Ereifemi Akeredolu, emphasized that building wealth represents only half of the modern financial equation. A seasoned business leader with an extensive background in trust services, wealth advisory, and corporate governance, Akeredolu pointed out that without early, proactive planning, the value created by dynamic entrepreneurs can easily be eroded.
“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.” He said.
According to Akeredolu, many individuals commit vast amounts of energy, capital, and time to accumulating assets but pay very little attention to how those assets are preserved or managed in their absence. She noted that estate planning functions essentially as a wealth protection shield, ensuring that a person’s hard-earned legacy continues to support their loved ones and business partners without the threat of legal battles, administrative paralysis, or state interventions. By utilizing modern legal vehicles like private trusts, customized wills, and institutional succession plans, wealth creators can retain control over how their assets are distributed and managed, even when they are no longer physically present to oversee them.
One of the most persistent myths the campaign seeks to dismantle is the belief that estate planning is exclusive to the ultra-wealthy. Financial experts at First Trustees argue that anyone who has dependents, owns a home, manages a growing business, or possesses basic savings and investments needs a structured estate plan. In the absence of a legal framework, the demise or incapacitation of a primary provider often plunges families into sudden financial hardship, as bank accounts are frozen, businesses are halted, and properties become entangled in lengthy, expensive probate disputes.
For Nigeria’s vibrant small and medium-sized enterprise sector, which serves as the engine of the national economy, the lack of succession planning remains a critical vulnerability. Statistically, a vast majority of family-owned businesses in West Africa do not survive past the first generation of founders, largely due to a lack of defined leadership transitions and asset protection structures. First Trustees is actively educating business owners on how to utilize corporate trusts and succession planning to separate personal estates from business assets. This separation ensures that even in the face of sudden personal crises, company operations, employee payrolls, and client relationships remain entirely unaffected, maintaining corporate stability and protecting shareholder value.
Furthermore, the integration of private trusts is being highlighted as a highly efficient alternative to traditional wills. While wills remain a fundamental component of estate management, they are subject to probate court processes, which can be notoriously slow, public, and expensive. Private trusts, by contrast, allow assets to be held and managed by an independent corporate trustee, such as First Trustees, on behalf of beneficiaries. This structure bypasses the public probate system completely, offering confidentiality, immediate liquidity for dependents, and protection against external creditors.
First Trustees Limited continues to leverage its deep historical expertise and tailored fiduciary solutions to bridge the financial literacy gap across Nigeria’s diverse demographic spectrum. From its headquarters in Lagos and through its extensive network of regional clinics and digital platforms, the firm has consistently expanded its public enlightenment initiatives. This outreach includes structured webinars, estate planning clinics, and collaborative forums designed to empower citizens with the legal and financial tools necessary to make informed decisions about their futures.
Ultimately, the firm’s advocacy represents a call to action for a cultural shift in financial planning. As Nigeria’s financial landscape grows more sophisticated, forward-thinking asset management is no longer a luxury but an absolute operational necessity. By prioritizing estate planning alongside daily wealth-generation efforts, Nigerian professionals and business owners can confidently secure their families’ futures, preserve corporate continuity, and build resilient legacies that will sustain generations to come.
About First Trustees Limited
First Trustees Limited is a leading provider of fiduciary and trusteeship services in Nigeria, offering a broad range of solutions including Estate Planning, Private Trust, Corporate Trust, Public Trust, Wealth Transfer, Security Trusteeship, and other specialized fiduciary services. Through innovative and tailored solutions, First Trustees help individuals, families, businesses, and institutions preserve, protect, and transfer wealth across generations. https://firsttrustees.com/
