SECURITY TIPS FOR HIGH NET-WORTH INDIVIDUALS

Don’t let the caption lead you to think that this is an attempt to portray people of less financial power as unimportant; the truth is that living as a high-net-worth individual can be both demanding and challenging. Sometimes, being in this bracket seems like mounting a signpost that says ‘Target me!’ Whether you are a business mogul, a politician or a celebrity, your financial status puts you in the limelight, making you a potential target for various security threats. While the benefits of wealth are undeniable, ensuring your safety and that of your loved ones requires careful planning and execution.

In this article, we will explore practical security tips tailored for high-net-worth individuals especially in Nigeria and surrounding countries. These tips blend personal vigilance with strategic planning to help us move around with more confidence.

Understand Your Environment

Security dynamics vary from one country to another, but issues like kidnapping, armed robbery, and cybercrime are common across the region. Understanding the specific risks in your environment is the first step toward securing yourself. This requires being informed about local crime trends, hotspots and the most vulnerable times of the day.

For example, in Nigeria, the rise in kidnappings for ransom means that you need to be particularly cautious about your movements. In Ghana, where cybercrime is more prevalent, you must be vigilant about your digital track.

Invest in Professional Security Services

This is clearly well-known but let’s just emphasize on it for better understanding: Professional security services are vital for home and office security. A well-trained security team can provide around-the-clock protection, assess threats and respond to emergencies. They can also manage your security infrastructure, including surveillance systems, access points and internal skirmishes.

The essential thing is to thoroughly vet the security firms and personnel you hire. Look for experience, local knowledge, and a track record of successful operations. It might also be wise to hire individuals with military or law enforcement backgrounds, as they are often trained to handle high-risk situations effectively.

Secure Your Residence

Your home is your sanctuary, but it can also be a point of vulnerability. Ensuring your residence is secure should be a top priority. This involves more than just installing high walls and gates. You should invest in hiring a professional security team (as explained above) and installation of a comprehensive security system that includes CCTV cameras, motion detectors, alarm systems, and secure locks. Consider implementing access controls that vet entry into your home.

It’s also wise to conduct regular security audits of your residence. This can involve inspecting the strength of your doors and windows, checking for blind spots in your surveillance coverage, and ensuring that your security systems are functioning correctly.

If possible, live in a secure, gated community where security is managed centrally. These communities often have enhanced security measures, such as guards, patrols, and restricted access.

Maintain a Simple Lifestyle

When you have gone through so much stress to make your money, it often feels inconsiderate to be told not to flaunt your wealth and to keep a low profile. The truth is the more information people have about your financial status, the more the chances of becoming a target for the criminally minded ones. Maintaining a low profile can significantly reduce the security risks aimed at you. Avoid ostentatious displays of wealth in public or on social media. Limit the amount of personal information you share online, as cybercriminals can use this to their advantage.

For instance, posting your location, travel plans, or expensive purchases on social media can make you an easy target for criminals. Instead, consider keeping your online presence minimal and secure. If you must share details about your life, do so through trusted and private channels.

Be Strategic with Your Movements

Routine can be your enemy when it comes to personal security. Avoid establishing patterns in your daily activities, such as always leaving home at the same time or taking the same routes. Varying your schedule and routes can make it more difficult for potential attackers to anticipate your movements.

Consider using different vehicles for your transportation needs, and regularly change them to avoid recognition. For added security, use bulletproof vehicles if you can afford one, especially in high-risk areas. It’s also advisable to have a trusted driver who is trained in defensive driving techniques and can act quickly in case of an emergency.

Plan for Emergencies

No one likes to think about worst-case scenarios, but being prepared for emergencies is essential. This includes having a well-thought-out emergency plan that covers different scenarios, such as home invasions, kidnappings, or medical emergencies.

Your emergency plan should include:

• Escape Routes: Know the quickest and safest ways to exit your home or office in case of an emergency.
• Safe Rooms: Consider having a secure room in your home where you and your family can retreat during a threat. This room should be equipped with communication devices, supplies, and reinforced doors.
• Communication Plan: Have a reliable means of communication that cannot be easily intercepted. This could include encrypted phones or private communication networks.
• Crisis Contacts: Maintain a list of emergency contacts, including your security team, local law enforcement, and trusted friends or family members.

Conduct regular drills with your family and staff to ensure everyone knows what to do in an emergency.

Stay Informed About Cyber Security

In today’s digital age, cyber security is just as important as physical security. High-net-worth individuals are often targets of cyber attacks, which can lead to financial loss, identity theft, or even physical danger if your personal information is compromised.

Ensure that your online accounts are protected with strong, unique passwords and two-factor authentication. Be wary of phishing scams and suspicious emails. It’s also advisable to use a virtual private network (VPN) when accessing the internet, especially on public Wi-Fi networks.

Consider employing a cyber security expert to regularly audit your digital footprint, protect your online presence, and respond to any potential threats.

Be Aware of Your Surroundings

Situational awareness is a fundamental aspect of personal security. Always be conscious of your environment, whether you are at home, in transit, or in public places. Pay attention to unusual behaviour or anything that seems out of place.

When attending events or meetings, avoid isolated locations, and ensure that your security team has secured the area in advance. In high-risk situations, limit the number of people who know about your whereabouts.

Train yourself and your family members in basic self-defence and situational awareness techniques. This knowledge can be invaluable in moments of crisis.

Engage with the Community

Engaging with the local community can enhance your security by building goodwill and reducing the likelihood of being targeted. When people see you as a positive force in the community, they are more likely to support you and provide information about potential threats.

Consider participating in or supporting local initiatives that contribute to the community’s well-being. However, do so discreetly to avoid drawing unwanted attention.

Secure Your Financial Transactions

Financial security is another critical area to consider. Avoid carrying large sums of money, and use secure methods for financial transactions. This includes using trusted financial institutions and avoiding risky investments that could attract attention.

Work with a reputable financial advisor to manage your wealth, ensuring that your financial activities do not expose you to unnecessary risks. Be particularly cautious about who has access to your financial information and transactions.

Being a high-net-worth individual comes with unique challenges but, with the right security measures, you can protect yourself and your loved ones from potential threats. By understanding the landscape, investing in professional security, maintaining a low profile, and staying informed, you can navigate your life with confidence and peace of mind.

Remember, security is not a one-time effort but an ongoing process. Conduct periodic security audits of your home, office, close staff and online presence. Stay vigilant, adapt to changing circumstances, and never underestimate the importance of personal security in safeguarding your wealth and well-being.

Fatherhood with Ibe

THERE’S NO SUPERMAN OR WOMAN, GUYS!

The rate people are dropping dead is very scary. It is almost as if one minute someone is hale and hearty, going about his/her business and the next, you hear he is gone. I was at Namibia just after the sad reports of legendary Onyeka Onwenu’s death and I could barely shake off the gloom that news gave me. It made me more aware of the transitory state of man and the need to show more empathy and affection to people … because you just can’t tell what people are going through and who you may never see again.

I had a colleague and close acquaintance, Gideon from Namibia who was supposed to be present at one of the events that I attended. Just out of courtesy and because of the way people have been labouring silently, I sent a message to his phone asking why he couldn’t make it to the event. I asked if he was okay and his response shocked me.

“Dear Prof,” he wrote.

“Thank you for taking time out to enquire about me and my wellbeing. I am very grateful. I really don’t want to appear vulnerable or weak in front of someone I respect as much as you. However, the weight of what I’ve been dealing with has grown too heavy to bear alone, and your kind enquiry is like the prompt I needed to let out some of the pent-up frustration, confusion, and even anger that has been simmering inside me.”

At this point, I was confused. What was he talking about? I checked again to be sure that the response was from Gideon. It was.

“As you know, leaving the corporate world to run my own business the last few months has been incredibly challenging. The start-up world was never going to be easy — I’ve always known that. But I didn’t expect it to feel like a constant battle for survival, with the odds stacked so heavily against me. Every day feels like an uphill climb, and just when I think I’ve reached the summit, another obstacle appears, pulling me right back down. I’m pouring every ounce of energy, every bit of creativity and every shred of determination into this company, but it never seems to be enough.”

I could well identify with his pain. Starting a business is not an easy task and more so in the present times, I mused.

Gideon was still writing.

“I’m not afraid of hard work. That’s not what’s bothering me. It’s the fact that despite the work, the sacrifices, and the endless hours, the e4xpected results are just not coming. I can’t tell you how many nights I’ve spent staring at spreadsheets, trying to figure out where we went wrong, what we could have done differently, or how we can turn this around.”

I smiled sympathetically. I was sure many entrepreneurs would identify with his predicament. It is a well travelled route. I was going to type this encouragement and make him understand that all he needed was perseverance and he would overcome eventually. The whole concept of Superman or Superwoman who can conquer the whole world with one hand tied to the back is a sham. Every notable success comes with notable effort and unpublished sacrifices.

But Gideon was still typing so I settled back to read all before responding.

“As if that wasn’t enough, something happened recently that has shaken me to my core. My wife told me that she is pregnant again — our fourth child.

I know I should be happy, right? For someone whose first marriage of over twelve years ended childless, I should feel joy at the thought of another child. But instead, I feel a surge of panic, anger and frustration. How can I possibly provide for another child when I’m barely managing to keep the roof over our heads and food on the table for the three we already have? The business has sucked in all my savings and the cost of raising a family these days is staggering; a new child will add another layer of financial pressure that I’m not sure I can handle.”

Wow! It was taking a dimension that I never expected. Honestly, for a bit, I was always wishing I hadn’t asked because I have an aversion for intruding into people’s personal issues. Well, there was nothing to do than hold on, the man had a lot on his mind

“I can’t even begin to explain how financially draining it has been to maintain our home. The cost of utilities, groceries, school fees, healthcare — it’s all piling up faster than I can count. I’ve had to make cuts everywhere I can but no matter how much I cut, it never feels like enough.

Then, there’s the guilt… the guilt of not being able anymore to give my children the life they deserve; the guilt of being an absent father because I’m always at work, trying to keep this dream alive; the guilt of not being able to give my wife the emotional support she needs because I’m so wrapped up in my own stress and worries.”

Hmm! I needed to tell Gideon very quickly that he was not alone…that many business owners were going through or had gone through the same cycle. That instead of feeling guilty, he needed to prioritize and delegate. But I waited to read the rest of his messages.

“Another child!! I know this sounds terrible, but I can’t help but feel like this pregnancy is a betrayal. I trusted that Grace and I were on the same page, that we both understood how fragile our situation is right now. We had talked about being done after three. We had agreed. Or at least I thought we had. And now, with this news, I feel blindsided. How could she let this happen? Why didn’t she think about the consequences? Why didn’t she talk to me first? I’m ashamed to admit it, but I feel angry with her. I know it’s not fair, and it’s not rational, but that’s how I feel.”

“Please don’t misunderstand me — I love my wife and children. I would do anything for them. But the thought of bringing another child into this world when I’m barely keeping it together is terrifying. It’s not just the financial burden; it’s the emotional and mental strain as well. I’m already stretched so thin, and I’m afraid that if I stretch any further, I’ll snap.”

I guess what I’m trying to say is that I’m scared. Scared of failing my family, scared of losing everything I’ve worked so hard for, scared of what the future holds. I don’t know how much longer I can keep up this juggling act without dropping everything.”

“Thank you Prof. I just needed to get this off my chest, to put it into words so that maybe it won’t feel so heavy. I’ve always looked up to you for your strength and wisdom, and maybe just knowing that you’ve heard me will help me find some of that strength within myself.”

I waited and when no other message came, I sent a reply to Gideon that we needed to talk. I gave him my hotel address and asked him to come around that evening. He thanked me and said he’d be there by 6pm.

I waited that evening but he never came. I called his number later in the night and a crying woman told me that Gideon had slumped in his office that afternoon and died before they could get medical attention.

If I say that I was in shock, it would be a gross understatement!

Life is fragile, be gentle with yourselves, folks!