馃嚦馃嚞NigeriaWest Africa
Meristem unveils Nigeria family wealth report to guide generational succession
via Punch Nigeria4 min read
Meristem Family Office has launched its inaugural Nigeria Family Wealth Report 2026, aiming to help affluent families, entrepreneurs, and founders manage generational wealth preservation and multi-generational succession planning. The report, unveiled in Lagos, seeks to elevate the discussion around affluent legacies from a private family matter to a macroeconomic concern. Kemi Ojenike, Managing Director of Meristem Family Office, highlighted that the report offers insights into structural and non-financial frameworks crucial for preventing corporate stagnation across generations. She emphasized that the loss of family wealth across generational transitions poses a significant threat to national productivity and enterprise sustainability, leading to economic value loss and the stagnation or closure of businesses. A key finding indicates that a substantial portion of private fortunes in Nigeria is tied to active business operations, making them vulnerable. The survey revealed that 80 percent of families ranked their operating businesses among their top two asset holdings. Furthermore, founder dependency remains a threat to long-term scalability, with 43 percent of respondents stating that major business and wealth decisions rely almost entirely on the founder or a small group of family members. Ojenike stressed the importance of initiating succession planning before it becomes urgent, noting that conversations often begin only when founders are in their later years. The firm i
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
Must ReadAirport operations across Nigeria may face disruptions starting Wednesday due to a nationwide protest by workers of the Nigerian Airspace Meteorological Agency NiMet. The industrial action, announced by the NiMet Unions Joint Action Committee, stems from the alleged failure of the Nigerian Airspace Management Agency NAMA to remit 10 percent of statutory en-route and overflight charges to NiMet. NiMet staff provide essential weather reports for pilots. The unions claim NAMA has ignored a directive from the Minister of Aviation and Aerospace Development, Festus Keyamo, to remit the outstanding funds within 48 hours. The protest notice, signed by secretaries of the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees, the Association of Nigerian Aviation Professionals, and the Senior Staff Association of Statutory Corporations and Government-Owned Companies, directs members to begin a peaceful protest at 6:00 am on Wednesday at all NiMet offices. The unions accuse NAMA of undermining worker welfare and disrupting NiMet's operations. This decision followed a Joint Union Congress meeting on June 15, where members resolved to escalate the matter if payment was not made within one week. The unions warned that workers had exhausted their patience. While described as peaceful, the protest could cripple the industry given NiMet's critical role in flight planning, aircraft dispatch, take-off, and landing. Copies of the protest notice were
Must ReadNigeria's current visa policies are criticized for lacking reciprocity, particularly with African nations that offer Nigerians visa-free or reduced-cost entry. Despite being Africa's most populous nation and largest economy, Nigeria's passport ranks 89th globally, offering visa-free access to only 44 countries. The article highlights the disparity with countries like Rwanda, which grants Nigerians free visa-on-arrival, while Nigerians charge Rwandans $160 to $180 for a visa, requiring a cumbersome online application and no visa-on-arrival. Similarly, Kenya has moved to abolish visa requirements for African citizens, including Nigerians, but Kenyans still face high fees and a difficult process to enter Nigeria. This lack of reciprocity is seen as a failure of pan-African solidarity and a hindrance to trade, tourism, and foreign direct investment. Nigeria's tourist visa fees are among the highest on the continent, and work permit fees are approximately $2,000 per year, significantly higher than in other African countries. The Nigeria Immigration Service online portal is also described as unreliable. The article argues that Nigeria should implement visa-on-arrival or visa-free access for citizens of countries that offer similar treatment to Nigerians, drastically reduce visa fees, and improve its visa application system. It cites the ECOWAS free movement protocol as proof that Nigeria can manage liberalized borders and suggests that a serious approach to reciprocity would benefi
A passenger died and several others were injured when a commercial vehicle hit a suspected Improvised Explosive Device IED on the Kurawa鈥揝abon Birni road in Sabon Birni Local Government Area of Sokoto State. The incident occurred early Sunday as the vehicle transported commuters to Sabon Birni town. Security analyst Bashir Altine Guyawa reported on Facebook that the vehicle ran over the explosive, allegedly planted by loyalists of a bandit leader. The explosion severely damaged the vehicle, trapping victims. Residents described a devastating scene, with an eyewitness noting widespread panic and rescue efforts. The injured were taken to medical facilities, and the deceased's body was recovered. This attack has increased fears in Sabon Birni and nearby communities, which face ongoing bandit attacks. The Sokoto State Police Command has not yet issued an official statement regarding the incident.