Alhaji Yusuf Lawal CEO of Sensor Energy is the billionaire who wants to go broke within his own hard earned, by giving N200,000 each to the needy to prepare Sallah Eid Fitr celebration.
The businessman made his money through his company by delivering services across the world, but he rejects the trappings of wealth himself.
Known for his frugal lifestyle, the billionaire is a self-made man who sprang from humble beginnings.
There are a few reasons this is a remarkable strategy. One is that cash transfers are among the best-studied approaches to fighting global poverty, and the results are very positive, with various studies finding that just handing out money increases consumption, encourages investments in important assets like metal roofs, encourages more people to start working, boosts earnings, and doesn’t lead to more spending on things like alcohol or tobacco.