Do you still want to close your savings account??

 Hello folks, I saw this article on someone's facebook wall and decided to bring it here because there's a fundamental flaw I noticed in this facebook post. Here's the article.  THE POOR, THE RICH AND THE BANK A bank is a broker between the poor and the rich. The common place where the poor and the rich meet is the bank. The poor brings money in the form of savings. The rich takes it through borrowing. A poor person saves the money because...

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Red flags to watch for when investing

Financial fraudsters are getting innovative by the day, however with this format you can be steps ahead of them.   Check their registration status. As a matter of fact, all brokers, fund managers and investment advisers are required by law to register and get statutory licence from the Securities and Exchange Commission. It is very necessary that your fund manager be captured in the SEC database. This is to give you a platform to seek redress...

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Stop asking this question

 "I have some money in my account. What can I invest in?". I've gotten this question a number of times. In response, I used to ask,  what's your investment objective? The next thing is a blank expression. That's the reason why I want to talk a little bit about investment objective. I've discussed with a lot of people who have taken up investment products and every single time I ask them the question of why have you chosen this specific...

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Why you should grab any dollar in sight!

 There was a day I attended a business meeting with some folks somewhere. In the course of the meeting, the moderator gave us forms to open an account. In that form, there was an option to open a naira or dollar account. The moderator instructed us to tick the dollar box. I raised my hand in objection and simply asked, " what if I want to open a naira account? He cast a funny glance at me as if he wanted to ask me " have you been living under...

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Nigerian stocks will burn your fingers! See reasons..

Whenever the word investment is mentioned, the first thing that comes to mind is the stock market. Stocks simply refer to ownership stake in a company expressed in units known as shares. In ideal situation, it is the choice destination for capital meant for investment. There are three major ways through which people earn in shares. They are dividends, capital appreciation and short selling. If you've been putting down your money in the Nigerian stock...

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Don't put your money in Crowd1 without reading this!

 There has been a number of multilevel marketing ventures springing up almost on a daily basis since the beginning of this year. I don't know whether to attribute this to the global economic drawback resulting from COVID-19 pandemic. Though I know a few of these MLM ventures were existing before now, but they picked momentum this year.  Some of them are Crowd1, Norland, Daily income stores, Superlife, NRI, just to mention a few. As I'm...

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How to remain illiterate after graduation

As a little child, you’re a curious being, you’re an experimental scientist. You wanted to learn, you wanted to research, you wanted to know. You love education. But one day, you were taken to school and a teacher started telling you that what education means is for you to cram what a teacher teaches you and write it back to her during a test or exam. By the time you’re done with schooling, you honestly think that you’re educated. SCAM!! Sometime...

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