Without a doubt, the economic situation in the World and in
Nigeria which started last year will certainly continue. We can
not overlook the fact that there is an economic down turn. The
major economies of the world are fighting hard to make sure
that their economies are up and running. All the avenues where
people invested their money and put their hopes in have all gone
down.
In Nigeria for example, it was the stock market. A lot of people
put their money in the stock market. The clear direction for last
year in the market was the same as in most parts of the world,
down. Individuals and banks lost a lot of money anticipating that
things were going to remain the same. Those who put their trust
in the market saw their hopes dashed. Read the rest of this entry »
I have been listening to the news over the past week and there
seems to be a series of events that have been recurrent on the
news. It started with the food crisis a while ago and now its a
financial crisis that has moved around the globe causing untold
hardship and wide spread panic.
The US president signed a $700 billion bailout fund to help
save the US economy from an impending recession. This has
been as a result of a lot of top financial houses going under.
Former US president Bill Clinton traced the problem to the
early 90’s when there was a crisis in the stock market. Read the rest of this entry »
There has been a gradual disappearance of the middle class in our
society. Years of military rule made the gap between the
rich and the poor increase. The need for a sustainable level
of income that can enable the average Nigerian survive is
therefore necessary to make life easier for everyone.
Lets assume now that majority of Nigerian’s earn income that
will sustain them and their families, there is therefore a need
for financial intelligence to be able to manage these resources.
No matter how much you earn, your expenses will always rise
to meet your income if you do not have sufficient financial
education. Read the rest of this entry »
Is it possible to stand out in virtually everything you do?
Is it possible to put an end to piracy or curb it to a great extent?
The question on your mind might be,”what am I talking about
and how are this two questions related”. Well the answer is
simple.
In 1995 an idea was birthed in Germany. The opportunity to
change a CD into a different shape other than the normal round
shape was anticipated and tried. Guess what !!! It worked, and
13 years down the line, it is now in many countries all over the
world including two African countries. Read the rest of this entry »
The rumored CBN regulation which restricts margin lending
by banks seems to have resulted in a chain reaction between
the local capital market regulators, brokers and the CBN.
Each party trading blames as to the cause of the downturn in
the market. Some believe that these are indicators that the
Nigerian stock market is relatively underdeveloped and not
properly regulated.
The NSE has been growing on an average compound rate of
46% over the past 5 years. This results over the years makes
the NSE one of the best performing equity markets in the world.
However, the recent trend in the market which has been bearish
saw stocks loosing almost all the profit that they have made for
the year. Read the rest of this entry »
Mortgage Sector.
The mortgage sector has continued to witness a lot of activity
since the listing of Aso Savings and loans on the floor of the
Nigerian Stock Exchange. Aso Savings and loans has continued
to reach new heights as investors continue to strive for a stake in
it. The demand for the stock remained high with the supply falling
short of the demand. The stock was admitted in the official list of
the Nigerian stock exchange about 3 weeks ago at N3:50 and has
since been on the upsurge.
Petroleum Sector.
Oando Plc has been appreciating over the past weeks as a result
of their impressive audited financial year report for the year ended
December 2007 released to the Nigerian Stock Exchange and to
the public. Oando’s year high is N282.77 while its year low is
N119. Read the rest of this entry »
The past week has been exciting, on Saturday was another
edition of the financial intelligence course – Billionaire-in-Training.
I learnt something new this time around that I will like to share
with you. During the training, one of the participants while playing
Cashflow was able to double his money plus the money he
collected from the bank using shares as his investment vehicle.
This event opened my eyes to a number of opportunities around.
There are shares in the Nigerian stock market that have done a
100% between the first quarter of this year. You could maximize
the opportunities that are available in the stock market alone. All
it takes is for you to follow the trend and make informed decisions. Read the rest of this entry »
In the course of last week, a lot of things happened. Apart
from the GTBank job, I started learning something new. I
have always avoided swimming, I always find a way of
staying away from the pool or the river. However I decided
to learn how to swim and it has been a new and exciting
experience for me.
I was in Illorin on Friday for a seminar and I spoke on
“Understanding how money works” and focussed on
making money work for you. The most important factor
in understanding money to me is that you must add value
to be able to attract wealth. Another important factor to
note is that, the number of people you add value to, is
proportional to the amount of income you can earn. Read the rest of this entry »
A week ago, I went to the bank to make a transaction. I
sell e-currencies as an extra source of passive income. On getting
to the bank, I was alerted of a transaction that needed my
attention. Two days earlier I had sold some e-gold through a
colleague and the transfer of the e-gold was made after I had
confirmed payment to my account from an Abarugo Ikechukwu
Udodirim.
I was told that my attention was needed in another branch. I
immediately followed the banking officer and on getting there,
I was told that someone alerted the bank that he got alerts on
his phone of a transaction he did not authorize from his account
to my account. I was amazed, the first thing that came to my
mind was that, how do you make a third party transfer in
GTBank without going to the bank physically. Read the rest of this entry »
Everyone looks forward to becoming financially free. The
point at which you no longer have to work for money,
rather your money works for you. It is that point at which
your passive income (money in your investment portfolio)
is greater than your expenses for a month. Everyone wants
to achieve this, however it seems kind of difficult given the
income received and expenses of the average man.
The first step to becoming financially free is to change the
way you think. Your becoming financially free has nothing
to do with the amount you earn. Its just the way you see
things, rather than seeing money as a way to buy luxury,
view it as a tool for making more money. You have to see
investment as inevitable. Not something you do as a
retirement plan but as a means of getting abundance in life. Read the rest of this entry »
