Nigeria FinTech Landscape - Impact Assessment
Chijioke - Affluent Senior
62 years, Married, 4 children
☐
Retired CFO of leading accounting firm
Illustrative
◉
Lives in Ikoyi with wife and gets occasional
visits from grandchildren
Has medium level knowledge of technology
■Financial services product usage driven
primarily by convenience
Income
>N 20M p.a.
Medium
Tech knowledge
Devices
+
Lifestyle overview
☐
Wife runs a
tailoring shop
where she caters to
high-end clientele
in Lagos and
Abuja
Serves on the
board of multiple
organizations in
Nigeria
Travels bi-annually
to visit children
abroad
Financial goals
Financial security
for his children
Send his children
to good universities
in the country
Manage and
diversify
investments locally
and abroad
Current banking
■ Has multiple bank
accounts in
Nigeria and
abroad. In
Nigeria, he has a
First Bank account
which he uses to
pay for his
children's expenses
in the UK
Uses cards for most
of his financial
transactions and
online banking for
managing foreign
accounts
Needs
Private banking
services that allow
him to invest and
manage
investments abroad
including mortgage
and property
management
Access to premium
credit cards and
bespoke services
for foreign
transactions and
travels
SOURCE: Customer interviews (n=215), team analysis
McKinsey & Company
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