The Money Wheel | Episode 21| Debt Crisis Alert: Mr Kosoko risks losing all he owns to overdue debt

Babatunde was feeling good about helping Ebube, and he thought he should extend his generosity by securing a meeting with Saheedat for Mawon. I think I’m in love. Babatunde couldn’t remember the last time he wanted to protect someone so much. The last time had been with Gina, but that had ended badly. He cast thoughts of his exgirlfriend out of his mind and knocked on Saheedat’s door.

Ibrahim opened the door. He couldn’t hide his surprise as he asked, “What can I do for you?” When Babatunde told him he needed to speak to Saheedat, he saw the confusion on his face. Saheedat peeked out behind her husband equally surprised.“Please, I need help for my girlfriend.”He could see that Ibrahim didn’t want him there, and he felt it had to do with the way he and Bolu had treated the tenants when his father was in the hospital. He needed to make that right. “I’m sorry about what happened a few months ago, sir. I was a different man then, and I was under a lot of pressure.”Saheedat smiled at him. “Why don’t you come in?” When he settled down and explained why he had come and how he wanted Mawon to also meet with her, Saheedat smiled again. “So you’re here because you want to be financially fit.” “What does that mean, ma?” Babatunde was trying hard to concentrate on her voice and not her smooth glowing skin.“

Financial fitness is when you can manage your money and meet your needs. Think of it like being physically fit. When a person is fit, they can do things others would find challenging, like running without panting or being able to lift weights. It’s the same way with someone who is financially fit. They can handle things others can’t, like inflation or a job loss.”“Hmm.” “Yes. And just like you need to build resilience to become physically fit, you need to build your financial muscle as well.” Babatunde chuckled. “Please explain o.” Saheedat laughed. “That just means you need to build the right financial habits. Look, I’m not a financial advisor, but I can tell you a few things my financial advisor told me to do.

Maybe I can start now and then continue when I meet you and your girlfriend. Would you like something to drink?”“He’s not thirsty,” Ibrahim answered on his behalf. He was sitting sipping some water at the dining table, a few yards away from them. Saheedat looked embarrassed. She cleared her throat.“So, the first thing you need to do is set financial goals. What do you want to get done? How are you going to get it done, and when are you hoping to get it done? Next, you need to get financial information, which is what you’re doing now. But like I told you, I’m not an expert, so you might need to speak with an expert.“It might take some getting used to, and you may make some mistakes, but don’t give up on being financially fit. It will pay off in long run.” By the time

Babatunde left Saheedat’s house, he felt as if cobwebs had been cleared from his mind. For the first time in his adult life, he saw a clear path to success. He couldn’t wait to speak with his father about loaning him some money. Once he got Mawon out of her aunt’s house, she would be in a better frame of mind to learn of financial fitness and goals. By then, he hoped they could pay Saheedat a visit.

The conversation between Babatunde and his father did not go as he expected. Not only did Mr Kosoko refuse to loan him the money, but he also told him he was in debt and could lose everything they had. The bank officers had phoned earlier in the day to let him know they would take the collateral he pledged if he didn’t repay his loan within fourteen days. “I have to start selling my houses to pay this money.”

Babatunde hadn’t realised how much debt his father took on for Suleiman. “How come you never believed in me as much as you believed in a total stranger?”

“He was a diligent, total stranger. He would have done well. I think he was too ashamed.”

“And you’re still making excuses for him? Why don’t you ever make excuses for me? Good fathers make excuses for their children.”

“How many excuses do I have to make for you? How many millions did I pay for you to drop out of school? How many millions did I give you for your rubbish films that no one watched? How much did I pay to bribe all those people when that girl died?” That deflated all of Babatunde’s anger.“You and your brother are just like her,” Mr Kosoko was muttering now, delirious with despair. “She should have taken the two of you with her. She moved on with her life and left you useless boys here with me … Left you here with her wasteful nature … Left me for that rich fool …useless boys so Suleiman got me …”

Babatunde sat on the edge of the couch beside his father. “Left you? You told us she died.”

Mr Kosoko looked at his son and broke into tears. “She left me because I didn’t have money. Your mother is in Lekki. Women are not loyal.”