Automated Wealth Tools Can Help Cushion Inflation — Akinyemi
The Head of Treasury at FairMoney Microfinance Bank, Feyishetan Akinyemi, has emphasized the need for Nigerians to adopt automated wealth management tools to protect their savings from the impact of rising inflation.
Key Insight: Inflation as a “Stealth Tax”
Akinyemi described inflation as a “stealth tax” that erodes the value of idle cash, noting that traditional savings accounts often fail to preserve purchasing power.
According to him:
Many standard bank accounts offer returns below inflation rates
This results in negative real returns, where money grows in value nominally but loses actual buying power
He explained that FairMoney evaluates savings using a real return framework, which adjusts earnings against inflation to reflect true value.
Wealth Tools as a Hedge
To address inflation risks, Akinyemi highlighted the importance of structured financial products such as:
FairSave (flexible, high-yield savings)
FairTarget (goal-based, locked savings)
These tools are designed to:
Encourage disciplined saving
Offer higher yields
Enable diversification across different time periods
He noted that such “wealth tracks” help users preserve and grow real value, even within a high-inflation environment.
Expanding Access Through Technology
Akinyemi said technology is helping to democratize wealth management by removing traditional barriers such as:
High minimum investment thresholds
Expensive advisory services
Complex processes
Through automation, FairMoney enables:
Low-cost account management
Easy onboarding
Access to competitive returns for low-income earners
He added that digital platforms can replicate investment strategies that were previously reserved for high-net-worth individuals.
Encouraging Financial Discipline
The platform also uses automation to influence user behavior, particularly in an inflationary environment where spending impulses tend to rise.
Key features include:
Automatic savings contributions
Restricted withdrawals on goal-based plans
Progress tracking and reinvestment options
According to Akinyemi, these tools help users shift from reactive spending to long-term wealth building.
Supporting Economic Growth
Akinyemi noted that retail savings play a broader role in national development in Nigeria.
He explained that:
Customer deposits are channeled into government securities and credit assets
This supports public financing and private sector growth
Increased financial inclusion expands the country’s domestic capital base
He added that FairMoney operates under regulatory oversight from institutions such as:
The Central Bank of Nigeria
The Securities and Exchange Commission
The Nigeria Deposit Insurance Corporation
Conclusion
Akinyemi stressed that in a high-inflation environment, simply saving money is no longer sufficient.
Instead, he advised Nigerians to adopt structured, automated wealth tools that focus on real returns, disciplined investing, and long-term financial growth.