Less Than 5% Nigerians Write Wills, as Assets Planning Platform Debuts

L-R: Chief Ecosystem Officer, Carrot Technologies Limited, Babatunde Adegbite, Chief Technology Officer, Oduntan Balogun, Chief Executive Officer and Co-Founder Carrot.ng, Luqman Balogun, Head of Marketing Communication, Adaeze Anaekwe and Chief Operating Officer, Odunayo Williams at Carrot Technologies Limited'ss Press Day event at the company's office in Lagos on Saturday. Photo by Nahimah Ajikanle-Nurudeen
L-R: Chief Ecosystem Officer, Carrot Technologies Limited, Babatunde Adegbite, Chief Technology Officer, Oduntan Balogun, Chief Executive Officer and Co-Founder Carrot.ng, Luqman Balogun, Head of Marketing Communication, Adaeze Anaekwe and Chief Operating Officer, Odunayo Williams at Carrot Technologies Limited'ss Press Day event at the company's office in Lagos on Saturday. Photo by Nahimah Ajikanle-Nurudeen

Nahimah Ajikanle Nurudeen

Carrot Technologies Limited has raised concerns over low penetration of wills making in Nigeria as less than five per cent of Nigerians are said to write their wills.

The company at a Press Day interactive session with journalists at it’s office in Lagos on Saturday said while more men are writing wills than women, few people 60years and above or people working with organizations that insists on staff wills making are those writing their wills in the country.

The Chief Executive Officer and Co-founder of Carrot Technologies, Luqman Balogun noted that anyone who is 18years is eligible to make his or her will because death is inevitable and can come unexpected.

Balogun said to address difficulties associated with will making, the company has created a one stop online platform that provides estate planning solutions for subscribers to securely create, update and schedule the execution of their wills and other testamentary instruments including Deed of Gifts in real time.

According to him, the platform which is accessible from all locations at any time is to help Nigerians make wills, organize assets and secure their financial future with their families.

He explained that one of the challenges in Nigeria today is inheritance and estate planning with general believed that wills making is meant for only the rich.

To achieve a seamless assets planning process f everyone Balogun said, informed offering of solutions to challenges on the making of wills and inheritance as well as estate planning.

He said, “Carrot Technologies Limited is a financial technology firm a (Fintech) with special focus on inheritance and estate planning. Our mission is to simplify access to estate planning for everyone and everywhere. Carrot enables testators to appoint guardians for their children and aged parents, appoint trustees, witnesses and executors on the platform.”

Balogun disclosed that subscribers on Carrot platform will get a N1 million Personal Life Insurance cover and a N100,000 Medical Expense Cover from Royal Exchange Assurance Plc ‎and Leadway Insurance Plc‎.

He noted that Carrot overcomes the difficulty, costs, and isolation that most people experience while trying to complete essential legal and financial tasks.

He said, “Carrot enables you to make a legal and valid will, purchase a health, life, travel and unemployment benefits insurance and organize inventory of assets in minutes and with just a click.

This unique social experience also makes it easy for users to invite family and friends to serve important future roles, encouraging transparent dialogue about hopes and expectations. Carrot guides users through these decisions, and makes them easy to change at any time, with just a click on their phones. It combines many of the tools use d by the wealthy and makes them accessible and affordable to all families.”

“Carrot is removing all barriers that prevents most families from getting the kind of legal and financial protection they need and deserve.”

He said Carrot experienced team comprises of experts who are lawyers, trust and estate practitioners, bankers, tax consultants and financial advisers to help secure their financial future and better organise their assets while living and after their demise.

Balogun hinted that Carrot also offers insurance policies in the areas of Health, travel, live and unemployment to relieve some of the burdens from these social problems posed on Nigerians.

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