The Chief Executive Officer of Coronation Wealth, Izekeo Adegoke, tells NAOMI CHIMA about her career trajectory, wealth creation, leadership and the challenges of being a woman in the financial services industry
What can you tell us about your background?
I studied Computer Science and later obtained a Master’s degree in Information Systems Management because I have always been interested in technology. From an early age, I have been fascinated by the idea of transforming manual processes into digital solutions that make things easier and more efficient for people.
I am from Edo State and the only girl in a family of four. My father always encouraged me to succeed and pushed me to keep going, particularly in a field where I was often surrounded by men.
Having a father I could lean on and who constantly encouraged me not to give up played a significant role in shaping the person I am today. He taught me to believe in myself and not allow the challenges around me to define what I could achieve.
What key lesson from banking have you carried into fintech?
I spent 13 years at Zenith Bank, and that period gave me a strong foundation in financial services and technology. I remember when my boss was involved in bringing MasterCard into Nigeria and when electronic payments were beginning to gain traction.
At the time, we had a payment solution that allowed merchants to display their goods online and receive payments from customers. I started my career as a programmer, so when I joined Zenith Bank, there was a lot for me to learn about banking and financial services.
Over the years, I became increasingly interested in the relationship between money, wealth and people’s quality of life. I often ask myself why some people are financially comfortable while others struggle, even when there is money and opportunity within the system.
That curiosity piqued my interest in financial education, asset management and the stock market. I began to see financial services not just as a business, but as a tool that could be used to improve people’s lives.
Today, I am constantly thinking about how we can make our applications better, how we can onboard people more easily and how we can make money move efficiently, so that people can earn better returns than they would normally get from simply keeping their money in a traditional savings account.
Will AI make humans irrelevant in banking and fintech?
I always take a cue from the saying, ‘Garbage in, garbage out.’ A computer can only produce results based on the information and instructions it receives.
There have always been fears that technology would eliminate human beings from the workplace. Some jobs have disappeared because of technology, but those changes have also created new opportunities and transformed the nature of work.
What may happen is that certain things will become more valuable, particularly creativity. The things that require human beings to think differently, make things beautiful, improve experiences and find new solutions will become increasingly important.
How has investing influenced your philosophy on wealth?
When people invest and begin to see returns, they create an additional source of income while their money continues to grow. That extra income can contribute to building a healthier financial environment for an individual and their family.
This is why I believe in the democratisation of investment. Financial solutions should be placed in the hands of ordinary people. Through an app, for instance, someone should be able to click through and invest as little as N1,000 or N5,000 and earn a return.
The idea is to help people become financially better off than they were the day before. You do not necessarily need to have millions of naira before you can begin creating wealth.
How do you mentor the next generation of women in fintech?
I start from my workplace. Right now, I am surrounded by a lot of women who are business analysts, and many of them are also product managers.
I help them push through barriers and ignore the negativity that sometimes comes with being a woman in a male-dominated environment.
I also teach them the importance of documenting their processes and thinking beyond traditional roles. Instead of simply being detail-oriented salespeople, I encourage them to ask, ‘What more can I do with this product? How can I improve it? How can I create more value?’
Beyond the workplace, I also support NGOs that work with schools and children. Through these organisations, we expose young people to investment education and help prepare them for the future.
What challenges do you face as a woman leader, and how do you manage them?
There is sometimes scepticism. You can see it in the eyes of some men when you walk into a room. I think that is partly influenced by society and the backgrounds people come from.
What is important is to remove all the unnecessary distractions and keep your eyes on the goal. I have things to do, and I know that I can provide the next solution just as well as anyone else.
I keep at it and involve people as much as possible so that we can achieve our objectives together. I do not spend too much time thinking about the fact that society may not always believe women can thrive in certain areas.
Instead, I focus on proving through my work that women can not only survive but also excel in these spaces.
Why is time important in investing?
When you invest, one of the first things you should think about is compounding. The longer your money remains invested and continues to generate returns, the more powerful the effect can become.
People sometimes compare investment returns with what they would earn by simply keeping their money in a savings account. Depending on the investment, the potential return can be significantly higher, although investment also comes with risks that must be properly understood.
The important thing is to identify credible institutions and investment opportunities, monitor how they perform and make informed decisions about where to put your money.
How can investment education reach ordinary Nigerians?
One of the most important things is collaboration. We have regulators and institutions such as the Securities and Exchange Commission, the Nigerian Exchange and the Central Securities Clearing System, among others, playing roles in the investment ecosystem.
From a government perspective, because we have created structured solutions such as the academy, we want to be able to integrate financial education into platforms such as USSD.
Imagine a market woman being able to dial a simple code and receive step-by-step instructions in her own language on how to save or invest.
We are also looking at platforms such as WhatsApp to make investment education more accessible. We go into markets and other communities to create awareness and educate people about investment opportunities.
We want people to understand that even N2,000 can make a difference when it is invested consistently over time.
Can investors benefit from both dividends and capital appreciation?
Yes, investors can benefit from both. Capital appreciation allows the value of an investment to grow, while dividends provide direct income when companies distribute part of their profits to shareholders.
The ideal situation for an investor is to understand what they are investing in and build a portfolio that can provide both income and growth, depending on their financial goals and risk appetite.
If I continue investing a stipulated amount every month, my investment can continue to grow, while I also benefit from dividends when they are paid.
How can fintechs and government improve investment confidence?
Education sits with all of us. We educate one another through television programmes, interviews, social media and other platforms. The important thing is to keep talking about investment and financial literacy.
There is a lot of fear around investing, and unfortunately, that fear can sometimes make people vulnerable to Ponzi schemes because they want their money to multiply quickly.
People may prefer an arrangement that promises to turn N1 into N5 almost immediately, rather than an investment that requires patience and discipline. But genuine investment is often about creating long-term value.
If we continue talking about investment, if government continues to promote financial education and if we introduce these concepts much earlier in schools, people will become more comfortable with them.
Investment education should be simple, digital and relatable. Platforms should also be transparent and easy to monitor. If young people understand the system and can see how it works, they are more likely to trust it.
The financial language we use today may appear complicated, but it will become much easier for people to understand if they start learning about money and investment from a young age.
Do retail investors need millions of naira to access bonds and fixed-income investments?
That is a myth. Investments no longer necessarily require huge amounts of money.
Once you put investment products on an app, you are effectively taking them to the retail market. That means you have to think about how to serve everyone, including the man walking on the street and the woman selling pepper in the market.
Today, people can access mutual funds, fixed-income products, bonds and other digital investment opportunities with relatively small amounts.
What simple investment habits would you recommend?
The first thing is to decide that you are going to set aside a portion of your salary every month. It could be 10 per cent, 20 per cent or even 30 per cent, depending on your circumstances, and commit that amount to investment.
You should also consider having a diversified portfolio. For example, you could decide to put N10,000 into mutual funds, N20,000 into fixed income and another N30,000 into stocks.
Diversification helps reduce the impact of market fluctuations because different investments may perform differently at different times.
Most importantly, start as early as possible. Investing from a young age helps you develop financial discipline. As Nigerians become more disciplined about saving and investing, we can build healthier financial habits and ultimately achieve greater financial freedom.
What are the biggest mistakes Nigerian investors make?
One of the biggest mistakes is believing that you need a lot of money to start investing. You don’t. You can start wherever you are, whether it is N2,000 or N5,000.
Another mistake is expecting to withdraw your investment too quickly. Before you invest, you should have a plan. Ask yourself what you are investing for and how long you intend to keep the money invested.
You have to learn to wait, monitor your investment, receive dividends where applicable and allow the investment to grow towards the goal you have set.
Another common mistake is putting all your money into one stock or one type of investment. Diversification is important because market conditions change. When one investment is declining, another may be performing better.
What investment strategy would you recommend for young professionals?
The first thing is to start now. When you are young, you generally have more time to take calculated risks and allow your investments to grow.
Study the companies and sectors you are investing in, whether it is banking, agriculture, technology or another sector. Understand their fundamentals and do not make decisions based solely on what you see on social media or hear from other people.
Have clear financial goals, do your research and avoid making impulsive decisions.
Diversification is also important. Invest across different asset classes rather than putting everything into one investment. That way, even when inflation or market volatility affects one part of your portfolio, other investments may help cushion the impact.
What principles have guided you throughout your career?
Honesty and clarity. I try to be as honest and direct as possible, even when it may not seem like the easiest way out of a situation.
It may take longer, but being direct and clear with people helps you build systems and also helps you build yourself as a person.
I also believe strongly in continuous learning. When you hear about artificial intelligence, learn about it. When you hear about investments and how they work, learn about them.
Diversify your learning. The more you know about different things, the better positioned you are to identify opportunities and make good decisions as you grow older.
What is your favourite food?
Just plantain and eggs.
How would you describe your fashion style?
For me, it is about what makes you feel comfortable. Passion is also about being comfortable with yourself.
How do you start your morning and organise your day?
I wake up, say my prayers and try to exercise because as the day progresses, you are not always sure how long you will be sitting down.
I also take a little snack with me so that I do not always have to rely on buying something during the day.
When I get to the office, I make a list of the things I need to do, both personal and work-related. I put the office work first, but I also write down the personal things so that I do not forget the issues that are important to me.
At the end of the day, I try to achieve about 80 per cent of what I set out to accomplish. I understand that you cannot always complete everything, but having a clear plan helps me stay organised.
How do you balance work, family and leadership?
At the office, I try to be as compassionate as possible, even when things are difficult. If you are compassionate towards the people around you, you create an environment where people can communicate openly and understand one another.
If I have something important to do for my children or my husband, I communicate clearly with my boss and the people I work with. I let them know what I am doing and why I may not be available at a particular time.
That communication helps everyone plan properly. It also allows people to step in and manage things when I am not available.
For me, balance is not about doing everything perfectly. It is about communicating, prioritising what matters and ensuring that the people around you understand what is happening.
