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  1. Last week
  2. When Saving Seems Difficult

    Most people believe that it is not possible to save with a low income. This is not true. For you to actually save at all, it starts with you making the decision to save. Any decision you want to take starts with the mind. It is the mind that controls you and tells you what to do. When you want something done, it all starts with you thinking and believing that it can be done. If you think you can do it; you will do it. If you think you can’t do it, then you can’t. So when you avoid saving with the little you make, it’s because you think it’s not possible. Saving is very important and it will help you a lot in the future. Your ability to save helps you become financially secure. Therefore, whatever money you receive, save from it. Your savings should be the first thing you put aside. Yes, your income may be meager but you can still save little out of it. You might think your monthly savings is too small; but it’s okay to start small. As long as you are saving something, it’s better than saving nothing. What you think is small today, in the next three to five years, it could amount to a lot of money. Saving is for everybody, irrespective of how much you earn. It is your decision to make. So, once you set your mind to do it, you can do it. For you to be able to save, you should assess your financial health. Know how much you get daily or monthly and how much you spend on a monthly or daily basis. You should monitor your income and expenditure. You need to know where your money is going. Do you know how much you spend on recharge cards, food, transport, fuel etc.? When you do this, you may realize you spend a lot on things that are not very important. It doesn’t mean you won’t spend money on these things, but you can cut down on the amount you spend on them. You can have it on records which could be on your phone or a note pad that you can easily access. This will help you save better. When you are able to assess your financial health, then you can re-examine your budget. You need to have a budget. A budget will show you the important things you need to spend money on and the things that are less important. You need to be ruthless in managing your spending. Get ready to make sacrifices. You can decide to spend less money by cooking at home rather than eating out. Have a budget on how much you want to spend every day; how much you spend on recharge cards, shopping, internet, health, beauty products, visiting friends etc. Write out all existing expenses, including the small ones, then list out each monthly expense. Also, set goals for yourself. This will make saving easier. When you have a goal; you have a plan. It could be a short-term or long- term goal. This will help you save towards it; you become conscious of what you want to achieve at that period and with that, you are mindful of your spending. It is also important to save for the unexpected. An emergency may occur in the future; planning for it will help you be prepared. A set-aside emergency fund could cover for an unexpected job loss, or a difficult health situation. Money should be set aside for emergencies to avoid going into debt. Remember that an emergency can actually be more than your income, so it’s best to start saving for it on a daily or monthly basis. One may need to retire in the future; the money you have saved will take the place of the income you will no longer receive from your job. The sooner you start saving for retirement, the less you will have to save in the future. In all, saving is very important. It doesn’t matter how much you are earning, you can do it and you should do it. It helps you avoid going into debt and you can secure a better life for yourself.
  3. MUST HAVE FINANCIAL LITERACY SKILLS What is financial Literacy? Financial Literacy is the set of skills and knowledge that allow you to understand: · The financial principles you need to know to make informed financial decisions and · The financial products that impact on financial well-being. Things to focus on in building your financial literacy skill 1. Understanding the key financial product you may need throughout your life -- including bank accounts, savings plans, retirement savings plans, and basic investments like stocks, bonds and mutual funds 2. Understand basic financial concepts like interest rate, investment return, risk, diversification and so on 3. Understanding money and financial issues – even if you don’t really like to talk about them Sound Decisions -- You will have to make choices about saving, spending, budgeting, investing and managing debt throughout your life. Examples are getting education or another degree, starting a new job, buying a house, starting a family, getting ready to retire and living your senior years. Change Management -- You will have to proactively manage changes that affects your everyday financial well-being including events in general economy like recent collapse of financial markets, rising unemployment and the threat to high inflation. Some Basic Tips i. Identify ways to earn and save money. The rule of saving is “live below your means’’ in other words, do not spend every penny you make. ii. Create a realistic spending plan and stick to it. It may need occasional adjusting when a situation changes in your life, but practice discipline in sticking to your plan. Always have a budget iii. Reduce impulsive buying. Avoid buying anything until you’ve had time to determine how it will fit into your spending plan. If it doesn’t fit, don’t buy. iv. Don’t not make too many high risk investments -- when the promised reward is too good to be true, better to risk only money you can afford to lose. Also make your investments via a reputable investment firm/broker -- whether stocks, real estate or bonds. v. Let your savings work for you; leave savings in investment accounts that allow them to grow in a compounding way (the interest/gain earning extra interest/gain). vi. Shop for the best investments -- a proper mix of risk to reward. Don't put all your money in a savings account to earn a meager 3% annual interest rate when you can put in Treasury Bills that are just as safe (or even safer as it is backed by the Federal Government) and will earn you 16% annual return rate. vii. Diversify. Don't put all your eggs in one basket. Don't even listen to people who say you should put all your eggs in one basket and watch it. No successful investor puts all his investment in one asset class. A hallmark of proper financial literacy is a balanced and well-diversified investment portfolio.
  4. Earlier
  5. There are many times I have wondered how we survived the era prior civilisation and the internet. It sure wasn't a funny thing because sending a message to someone in another land was a sort of job on its own. How did people handle cash also? I laugh at the realisation that before the advent of commercial banks, people actually kept their monies in temples and by giving them to temple priests. Today, banking and managing money is a different kettle of fish. Though internet banking was not greeted with great zeal by most Africans, eventually, discovering the ease, the great ease attached to it, many more people have joined the wagon. I can't remember the last time I actually went to a bank to sort out a transaction. You can sort out financing a vacation without leaving one spot using your bank's mobile app. In spite of the slow internet penetration rate, banking applications are being embraced on a large scale. Every bank in Nigeria has a mobile application and have to grapple with satisfying their customers on a daily basis. Gathering this review, I noticed that it may not be an accurate reflection of the acceptability rate by customers simply because just a handful of people leave a review. However, we would work with what we have on the Google Play Store. So if you haven't downloaded the Mobile App for your bank, or you want to know how many more people share your frustrations, this should interest you. Let the battle of the apps begin: 1. Zenith Bank With over 500,000 downloads, Bankers are promised that the mobile app eliminates the need of funding your mobile wallet before initiating payments and airtime purchases. You can register as an Internet banking user or a non-Internet banking user. What people are saying: According to Google Play Store, 6,169 people sent in their reviews. 5 stars: 3917 reviews 4 stars: 1044 reviews 3 stars: 647 reviews 2 stars: 189 reviews 1 star: 372 reviews A good chunk of people approve of this app but when 372 people complain so much, it means something needs to be corrected. 2. Ecobank With a satisfactory 1 million downloads recorded, this bank promises that wherever, whenever… with the Ecobank Mobile app, everyday banking becomes as easy as ABC! Let's see if the users agree; With a total of 7,218 reviews, 5 stars: 4,068 reviews 4 stars: 992 reviews 3 stars: 767 reviews 2 stars: 341 reviews 1 star: 1,050 reviews My thoughts: Though a large chunk freely donated 5 stars, a whopping 1,050 users are downright upset about something. We can't ignore this. Ecobank needs to sort this out fast. 3. Union Bank We obviously know how recently this bank joined the 21st century internet world of play. So this review shouldn't come as a surprise to many. Though they make 13 promises to the Users including a weather forecast, from the number of downloads on the Google Play Store, it is either Users are wary of so many promises or they need a new PR agent. With 100,000 downloads they barely have 600 reviews, 5 stars: 418 reviews 4 stars: 71 reviews 3 stars: 54 reviews 2 stars: 18 reviews 1 star: 39 reviews While publicity of the mobile app should be invested in, this bank also has to take into consideration the things they need to put in place so they don't have a fast increasing amount of dissatisfied users. 4. Diamond Bank When users are promised that “The Diamond Mobile App brings excitement to the world of banking”, it is then no surprise that we have over a million downloads. With almost the highest number of reviews, the Diamond Mobile App has a total of 13,227 reviews on the Google Play Store. 5 stars: 7,854 reviews 4 stars: 2,239 reviews 3 stars: 1,380 reviews 2 stars: 587 reviews 1 star: 1,167 reviews With a high number of 5 stars, this mobile app has won my heart (sadly, I don’t have an account with them). They are rated high for monitoring credit, making payments, budgeting, linking bank accounts, managing credit cards, tracking finances, international transfers, etc. All ratings of over 80%. We can’t however ignore the fact that there are 1,167 dissatisfied Users and can only appeal to Diamond bank to make their experience as seamless as possible. 5. GTBank The first thing I see when I visit the Google Play store is “The GTBank Mobile App is finally here.” Not only was I disappointed by the lack of creative copywriting, I rolled my eyes many times because I expected more from them. Anyway, no beefs, over to the reviews. A closer look at the promise made and Users guaranteed seamless banking. Over one million downloads have been made by users and a whopping 14,135 reviews are recorded. 5 stars: 7,883 reviews 4 stars: 2,815 reviews 3 stars: 1,521 reviews 2 stars: 679 reviews 1 star: 1,237 reviews A laudable number of people praise this app but obviously, many people are highly dissatisfied and leave amusing comments. GTBank officials need to do something about this also. 6. UBA The upgraded mobile app has over 500,000 downloads and promises their Users banking services that are easily accessible. 6,508 people dropped their reviews and over half of them are highly satisfied. 5 stars: 3,914 reviews 4 stars: 995 reviews 3 stars: 623 reviews 2 stars: 305 reviews 1 star: 671 reviews It is quite easy for organisations to forget the small number of disgruntled customers when compared with the happy ones, but that shouldn’t be the case. If one customer isn’t satisfied, his or her complaint is worth looking into. So UBA, there is work to be done. 7. Stanbic IBTC When someone tells you, “Experience Stanbic IBTC’s beautiful way to manage your money; all your money”, there is this satisfaction that comes with. However, when you look at how many downloads have been recorded, (over 100,000 downloads) and the handful of reviews recorded, (1.515 reviews), I begin to wonder if the promise for #appiness is really true. 5 stars: 942 reviews 4 stars: 203 reviews 3 stars: 118 reviews 2 stars: 66 reviews 1 star: 186 reviews For the number of 5 stars that they have, there are already too many people in the 1 star section. This is so much that one of the Users who dropped a review told them how #unappy the app made his day. Stanbic, Kindly step up to the table and clean out the mess. 8. First Bank The fact that their name bears a position resemblance, it doesn’t make them first in the battle of the apps because they didn’t exceed my imaginations. Users are promised convenient access to both financial and non-financial transactions plus other functionalities. With over a million downloads, 12,536 Users dropped their reviews. 5 stars: 8,129 reviews 4 stars: 2,034 reviews 3 stars: 1,179 reviews 2 stars: 406 reviews 1 star: 788 reviews Well, what can I say now? First Bank, please try to be the first bank who gets it right. Sort out the bugs and fix the errors. 9. FCMB The FCMB Mobile Plus app, recently updated, promises real time access to mobile transactions. With barely over 100,000 downloads, only 1,508 Users sent in their reviews. 5 stars: 875 reviews 4 stars: 238 reviews 3 stars: 140 reviews 2 stars: 50 reviews 1 star: 205 reviews There are a lot of complaints that arose after the app was upgraded. Usually, when an application is upgraded, it is meant to make the User experience a more plesant one. This becomes defeated when more people keep saying they have not benefited from the upgrade. FCMB, please listen to your users and do something about it. 10. Sterling Bank Users at promised that the Sterling Mobile brings a whole new experience to banking from your mobile phone. Only over 100,000 downloads with 1,954 reviews. 5 stars: 1,217 reviews 4 stars: 184 reviews 3 stars: 148 reviews 2 stars: 105 reviews 1 star: 300 reviews This one customer bank needs to listen to its Users. 300 dissatisfied Users are too many bad reviews. Though mobile applications are powered by phone work ability, network and a couple of other factors, our financial institutions need to listen to their Users, more intently and make more efforts to reduce the discomfort experienced when the Users interface with their various platforms. Reading through the various reviews will amuse anyone who has some time to spare. I know we havent gotten there yet, but please and please, just in case, you reading this, knows the person in charge of these apps, kindly tell them that Nigerians deserve the best and nothing less.
  6. Forex Regulations in Nigeria Some countries regulate the Forex trading market carefully restricting and limiting the brokers’ activity. This allows for a safer trading for the customers, but it also closes out the market for other brokers damaging the competition, making it so that the remaining Forex brokers offer quite a low level of services. In Nigeria, Forex isn’t overregulated; according to the foreign exchange manual issued by the Central Bank of Nigeria in November 2006 everyone can participate in the foreign currency exchange activities as long as they are conducted via the banks or brokers registered with such banks (authorized dealers). Spot Forex market (the one that is use for on-line leveraged trading where actual currencies are not delivered) faces even less restrictions and regulations from the Nigerian government. Unlike U. S. there is no a regulating body for such Forex brokers, so any legal company with a registration in Nigeria or some other country can accept traders from Nigeria. This makes the Nigeria Forex brokerage industry a free and open market allowing the residents of Nigeria to choose from very many on-line Forex brokers. Unfortunately such variety brings in certain dangers, there are many scam brokers that seek to steal traders’ money and there are also brokers that claim to be offering excellent services but in reality offer nothing more than high spreads and some poor trading platform. So, a great care should be applied in choosing a Forex broker, it is a good idea to select only those brokers that were checked by the experienced traders and are known for their quality. A good list of honest Forex brokers was compiled by Forex Nigeria, so you could easily start trading without having to do your own due diligence on any broker. It is possible, that in the near future, Nigerian government will change the way of Forex market regulation. If more problems will be encountered by the Nigerian citizen, government can introduce some institute to register and regulate all Forex brokers. If this happens, the brokerage market will be very limited for a period of time. But until this happens, residents of Nigeria can enjoy the completely free Forex trading. Possible Problems with Forex Though on-line, Forex trading is a popular activity, here are many potential problems waiting for the newbie traders. Even more experienced traders can get a strong hit from something they’ve never encountered. Here is the list, compiled by ForexNigeria.org, of the possible problems you can encounter in your Forex trading endeavor. 1. Scam Forex brokers: -a number one problem for a starting trader and some experienced traders that want to move from one broker to another. Be advised that there are many on-line brokers that will just steal your money, or will hunt your stop-losses to bankrupt your account, or will provide no support at all. Just stay with the brokers that are reputable and trustworthy until you learn to detect Forex scams yourself. 2. Overtrading: - sometimes you will start to lose money on trading just because you stay in the market for too long. Don’t overtrade, set daily goals for profit, limit for loss and don’t trade past them. Overtrading is one of the major psychological barriers in Forex trading. 3. Wide spreads on high volatility: -some Forex brokers increase their spreads for all currency pairs during the hours of high volatility (i.e. news releases). That can damage the whole trading strategy, so you must be aware if your broker uses such tactics and avoid losing money because of it. 4. Following wrong Forex signals: -sometimes you may find yourself losing; because you follow someone else’s Forex trading signals. Actually it is a good idea not to follow any signals at all (except for the ones, generated by your trading system), especially the paid ones. Trading your own Forex strategy brings in your sole responsibility for all your trades. If someone’s providing paid Forex signals, chances are they are not very accurate. Why would one sell them if he could earn money with just trading? 5. Lack of knowledge : - the lack of required knowledge to trade Forex will dump your trading account very fast. Educate yourself; don’t let your emotions control yourself and trade only when you are sure about its success. There are plenty of free educational materials available on-line, don’t be lazy and learn whenever you have a time for it. MYTHS ABOUT FOREX As on-line Forex trading becomes more popular, it is getting cloaked in a wrap of some myths. Some of these myths are harmless, but some can be extremely dangerous to the beginning traders. To recognize such myths from reality is the basic condition of successful Forex trading. More than that, maybe after you learn about some Forex myths that they are really just myths you will dramatically change your opinion about Forex market. Here is the list of the most dangerous Forex myths: Forex trading is easy: - Actually it’s not easy at all, it’s pretty hard. It’s easy to start trading, but succeeding takes time and practice. Of course, there are talented traders that learn very fast, but generally starting traders should dedicate part of their time to educating themselves. Forex is a scam. : - Forex is a real currency market and anyone can trade there themselves and be responsible for their own decisions, so it’s hardly a scam. Forex can be compared to a stock market, but it is more volatile and the leverage is usually higher. The only scams you should be afraid of as a Forex trader are scamming brokers or scamming marketers that sell Forex e-books and sure-fire strategies. A good way to avoid scam Forex brokers is to use only well-known and tested brokers (you can choose one from the list compiled by Forex Nigeria.) Only rich can trade on Forex: - This could be true like 20 years ago, but with the fast development of the informational technologies and particularly the Internet, Forex is now open to everyone. You can start trading with just $1. And you don’t need big amounts of money to "move" the market, it’s almost impossible with the current daily volume ($3.2 trillion). All you need is practice and a trading strategy. Stop-losses are not necessary: - trading without a stop-loss is a suicide. With high leverage and no stop-loss your Forex trading account will wiped clean in no time. Learn to set your stop-losses to some point not too far from order’s entry price. Keeping losses low and profits high has always been a good move.
  7. How To Stay Debt Free

    Let's assume a finance detective approaches you and asks: "Who loves to have a dependable car?" "Who loves to own a house?" "Who loves to dress well and be the talk of the town?" I am certain he will get the same reaction from you as the one playing out in my head. The right question actually is, "Who doesn't?" We live in a materialistic world and it is absolutely normal for people to desire good things. However, when you live in a society where the economy is not friendly, it is crucial to be careful when sorting our priorities. The word 'Debt' is not new to man and has been the cause of some drastic decisions that people made in our society. Have you ever been in a situation where you were not able to handle an emergency due to lack of adequate finance? Or you had issues with your friends and loved ones because you owed them a lot of money and couldn't pay back? Or ever seen cases where people lose their lives owing to a build up of stress over accumulated debt? Very recently, the news of a major oil firm bedevilled by crippling debts was trending. Though the borrowed funds were meant for business expansion, the day of reckoning eventually arrived. That's what happens with debts; as the day of reckoning draws close, the heart of the borrower beats faster. However, there are practical ways to staying debt free. Let's discuss some. First, make a budget. Creating a budget helps you avoid overspending. Though you earn a great income, it is not wise to spend beyond your budget. It will only leave you with less money and your family gets affected. Creating a budget helps you to set your priorities right. It will enable you to make the right sacrifices to financial stability. You may have to cut down on some luxuries like taking a vacation abroad, eating out every weekend, going to the movies on Saturdays, wearing the latest designer clothes and shoes, and many more of that. You will learn to be more resourceful and seek our less costly luxuries. Instead of expensive vacations in a very faraway country, you can find equally luxurious ones less faraway and costs less. Parents should also re-orientate their children in being prudent with money and cut down on requesting for meaningless luxuries. In order to be debt free, know exactly how much you earn, how much you spend and how much you should spend. Monthly is most recommended. This will help you cut out unnecessary expenses and ensure you live within your means. Secondly, nurture self-control. In the society we live in, people feel pressured to keep up with the latest fashion and trends. I once heard a quote; "Don't try to live up to the Jones, the Jones are broke." Life is all about how you make most of what you have; so restrain your thoughts and focus your your mind on the things that matter the most. That's one sure way of escaping the trap of grabbing everything that appeals to you and accumulating unnecessary debts. Contentment is a must-have virtue; life is not all about expensive toys. Always remember that if you keep spending money on things you don't genuinely need, someday you will have to sell the things you need when the storm of life comes. But if you've been prudent in keeping your expenses low and your savings/investment fat, you are better positioned to weather the storms when the assuredly come. Lastly, save, save and invest. Set savings/investment goals and draft a plan on how to achieve them. You want your children to attend one of the best schools? Good, plan towards it; start saving in an education fund/account for it. When the focus isn't on immediate gratification, you make smarter decisions. You want to own a house? You want the best for your children? That's beautiful, all you need to do is to save for it. Saving for a long term goal also gives you the time to consider if you really want that particular thing. Always monitor your spending. For you to save better, trick your mind into believing you make less income. And in truth, there were years you made less income and lived well. Just don't let your mind get used to spending everything you earn. This will help you put more money aside -- the extra from the salary raise, the new side income etc -- for the long-term financial goals you want to achieve, for example, buy a house, take your family on a vacation. In summary, to become debt-free: change your habits and develop a healthier way of spending. Staying debt-free helps individuals and families to live happily. They are able to avoid unnecessary stress, achieve more and build better relationships.
  8. UNDERSTANDING THE FOREX MARKET -1 Forex is short for foreign exchange, but the actual asset class we are referring to is currencies. Foreign exchange is the act of changing one country's currency into another country's currency for a variety of reasons, usually for tourism or commerce. Due to the fact that business is global, there is a need to transact with other countries in their own particular currency. What Exactly Is Forex Trading? Forex trading can be defined as the online/internet currency exchange trade or the act of simultaneously buying and selling currencies of different countries online using internet trading platforms. Forex stands for Foreign Exchange so; Forex Trading simply means Foreign exchange trading or trading on foreign currency by its exchange rate. Since Forex trading involves the disparities in foreign exchange rates, making profit or loss in Forex trade is usually determined by the economic state of different countries at a time. Since the economy of different countries is not static in relation to one another at any point in time, the Forex market is never fixed or stagnant at any point in time as well. It is a volatile market that is constantly changing and are never accurately predicted. This is where the profit or loss is made. If the currency goes up in your favor, you make profit, it goes down against you, you make loss. Understanding the Forex Market To understand the Forex market and be good at it, you have to avail yourself to serious training in Forex trading! You must acquire the technical knowledge required in Forex trading. You must have enough time and willingness to study this ever-changing price market over a period of time and be up to date with the local and foreign news as global trends have a tendency to determine the direction the prices of the currency go, either up or down. To assist you in the learning process, it is important to use a demo account for practice. Almost all the Forex trading platforms have demo accounts where you can practice Forex trading in what looks like real time trading. The demo accounts are loaded with virtual money and in real time mode. The only difference is that you neither make profit nor loss in demo trading. You need to continue to practice with the Forex demo account until you become very proficient. You must be good with the virtual trade before you ever attempt with real money because once you are up with the real money, there is no going back, its either profit or loss. From then, it becomes investment that must be handled very seriously. Your investment in Forex trading is not something you joke with, you need to be up to date with knowledge and information. You must be into it and do research regularly. How to Get Started With Your Forex Trade Before you proceed to open an account with any Forex Broker, you must understand that not all Forex Brokers are genuine. Make a thorough research before settling with any trading platform with real time investment. I will advise you use the big and established Forex trading platforms only. Open Account with Forex Brokers Go to the website of your desired Forex Brokers and open account. Forex Broker or the Forex trading platforms is the medium through which currency is traded online. Fund Your Forex Account Before you start live Forex trade, you must fund your account. Funding can be done through direct deposit or by using your credit/debit cards. Have a Domiciliary Account This is very important for effective transaction and to enable you make a withdrawal of your profit when there is any. Some use other currency medium like the eCurrencies but at the end, it will still get to Domiciliary accounts. The Domiciliary account is used for cashing or depositing funds into your Forex trading account. Fast Internet Connection You need a very fast and reliable internet connection to be able to trade Forex in Nigeria or elsewhere. Without this, it will be difficult for you to make profit because your internet has to be fast and reliable to enable you take quick actions. High Performing Laptop This is very necessary for efficiency and accurate performance in live market. Do not make the mistake of using a wacky laptop for Forex trading. Most times, the losses people make is as a result of inefficient trading devices. The profit you make depends on your trading skills. Yes, people are still making profit in Forex trading in Nigeria and will continue to make profit as long as currency remain in use. In fact, nothing has changed and will probably change forever.
  9. UNDERSTANDING THE FOREX MARKET -1 Forex is short for foreign exchange, but the actual asset class we are referring to is currencies. Foreign exchange is the act of changing one country's currency into another country's currency for a variety of reasons, usually for tourism or commerce. Due to the fact that business is global, there is a need to transact with other countries in their own particular currency. What Exactly Is Forex Trading? Forex trading can be defined as the online/internet currency exchange trade or the act of simultaneously buying and selling currencies of different countries online using internet trading platforms. Forex stands for Foreign Exchange so; Forex Trading simply means Foreign exchange trading or trading on foreign currency by its exchange rate. Since Forex trading involves the disparities in foreign exchange rates, making profit or loss in Forex trade is usually determined by the economic state of different countries at a time. Since the economy of different countries is not static in relation to one another at any point in time, the Forex market is never fixed or stagnant at any point in time as well. It is a volatile market that is constantly changing and are never accurately predicted. This is where the profit or loss is made. If the currency goes up in your favor, you make profit, it goes down against you, you make loss. Understanding the Forex Market To understand the Forex market and be good at it, you have to avail yourself to serious training in Forex trading! You must acquire the technical knowledge required in Forex trading. You must have enough time and willingness to study this ever-changing price market over a period of time and be up to date with the local and foreign news as global trends have a tendency to determine the direction the prices of the currency go, either up or down. To assist you in the learning process, it is important to use a demo account for practice. Almost all the Forex trading platforms have demo accounts where you can practice Forex trading in what looks like real time trading. The demo accounts are loaded with virtual money and in real time mode. The only difference is that you neither make profit nor loss in demo trading. You need to continue to practice with the Forex demo account until you become very proficient. You must be good with the virtual trade before you ever attempt with real money because once you are up with the real money, there is no going back, its either profit or loss. From then, it becomes investment that must be handled very seriously. Your investment in Forex trading is not something you joke with, you need to be up to date with knowledge and information. You must be into it and do research regularly. How to Get Started With Your Forex Trade Before you proceed to open an account with any Forex Broker, you must understand that not all Forex Brokers are genuine. Make a thorough research before settling with any trading platform with real time investment. I will advise you use the big and established Forex trading platforms only. Open Account with Forex Brokers Go to the website of your desired Forex Brokers and open account. Forex Broker or the Forex trading platforms is the medium through which currency is traded online. Fund Your Forex Account Before you start live Forex trade, you must fund your account. Funding can be done through direct deposit or by using your credit/debit cards. Have a Domiciliary Account This is very important for effective transaction and to enable you make a withdrawal of your profit when there is any. Some use other currency medium like the eCurrencies but at the end, it will still get to Domiciliary accounts. The Domiciliary account is used for cashing or depositing funds into your Forex trading account. Fast Internet Connection You need a very fast and reliable internet connection to be able to trade Forex in Nigeria or elsewhere. Without this, it will be difficult for you to make profit because your internet has to be fast and reliable to enable you take quick actions. High Performing Laptop This is very necessary for efficiency and accurate performance in live market. Do not make the mistake of using a wacky laptop for Forex trading. Most times, the losses people make is as a result of inefficient trading devices. The profit you make depends on your trading skills. Yes, people are still making profit in Forex trading in Nigeria and will continue to make profit as long as currency remain in use. In fact, nothing has changed and will probably change forever.
  10. Why I Invest In Stocks

    I invest in stocks because I thoroughly understand them. I do my own stock analysis (I even built this tool and this one too to help others with their own stock analysis); I teach financial modelling; I do projects for investment houses (currently working on a VaR, value at risk, model for a foreign investment corporate client); I have made enough mistakes over the last ten years that I now recognize the common pitfalls and what works. Most importantly, investing in stocks is a vital component of any very sound personal financial investment plan. Many of us work hard daily. Even after spending the first two decades of our lives in school and are now working full-time, many of us still do Masters, Ph.D and professional courses. We are constantly developing ourselves in order to increase our earning power. And some of us succeed very well. You now earn enough to cater for all your needs and those of your dependants with still some money left. And this is where many of us fail to do things right. When you don't have a sound financial investment plan, other people's plans look good to you. You will easily fall for the real estate salesman's talk about buying properties. You will feel left out when your friends are doubling their money in the latest investment scheme. Even the FGN savings bond will look heaven-sent to you. No matter how strong-willed you are, you will always be facing immense pressure as no financial investment plan is like a vacuum and difficult to keep that way. One day, you will break and go for one of the investment schemes you see your friends doing. And more often than not, you will get burnt and swear off any form of investment. Then the vacuum-struggle cycle restarts. I would advice that you rather fix the issue properly and permanently. Learn about proper financial investment. Take baby steps to practice doing the right thing. You will make mistakes but when you start the right way your mistakes won't be of the sorts that bring you down. I started with mutual funds, having professional investment managers do the bulk of my financial investment for me. Then I slowly started investing directly in stocks myself, the proper way. Before then, I got burned in the 2008 crash when there were radio jingles, billboards and TV adverts on buying stocks and every listed company was doing a public offer. I still remember the First Bank advert of their public offer at N31/share. My dad got charcoals from it, everything he put in completely burnt. I lost all I put in Mutual Benefits Assurance (minus the dividends they gave me in 2008) and Finbank. So I was much more careful to do things right and learn the proper way of investing. From 2011 to now, I have gained a lot of practical experience in managing my own financial investments. I have seen my money go up and down over the years. At first, I used to feel sick when I see it go down (especially just after I put in my money) but now I am very much used to it and see buying opportunities during market downs. I am following the get rich slowly mantra. I have my own investment plan and it excludes any get rich quickly scheme. All the double your money in two months or in one year schemes have no appeal to me. No amount of real world evidence of how well your real estate or bitcoin or XYZ scheme is doing can entice me. Not that I don't believe they work but because I have my own solid plans that I am executing religiously. If they work for you, great. Mine also works for me, though less impressively but I am contented. I simply work hard at my profession (data analysis) and invest the excess funds I have in the stock and bonds market. I also keep enough to cover my four months living expense in a high yield cash account (savings account) for emergency needs. I do both Nigerian stocks and US stocks. Same with bonds. I totally understand them. I don't panic. I have more peace of mind seeing my money work for me in those investments than having them lay temptingly in my bank account.
  11. You can access the Excel file here: NSE Daily Trade Data The Market Highlights: The market was bullish today. The NSE rose by a whooping 2.10% (it has risen this high only five times this year and three of which were this month!). The market capitalization rose to N10.05 trillion and the index rose to 2,9064.52 The last time it got this high was on 1st of July, 2016 (almost a year ago!). Many stocks got to their 52 weeks high today: First Bank, Guaranty Trust Bank, Nestle, Pharma Deko, Presco, Tourist and Zenith Bank. The top gainers were: First Bank (10.14%), Oando (7.66%), Guaranty Trust Bank (5.00%), Ecobank (5.00%), Zenith Bank (4.99%), Flour Mills (4.98%), AXA Mansard (4.97%), Airservice (4.48%), Eterna (4.87%), PZ (4.76%), Jaiz Bank (4.40%), Fidelity Bank (4.12%) and Okomu Oil (4.11%). The top losers were: Mobil (-5.00%), Learn Africa formerly Longman Nigeria (-4.94%), NAHCO (-4.93%), Vitafoam (-4.92%), AFRPAINTS (-4.86%), Cadbury (-4.85%), NEM (-4.67%) and NPF Microfinance Bank (-3.82%). What do I think? I think this is just the beginning. Over the last 10 years, the economy has roared on and inflation has been double digits and company profits have been growing impressively but the stock market has been doing the opposite. Most companies are selling at huge discounts.
  12. You can access the Excel file here: NSE Daily Trade Data
  13. You can access the Excel file here: NSE Daily Trade Data
  14. I have problem with saving money. If I have more than N300,000 in my regular savings account, in 24 hours I will have a dozen different ideas of what to do with the money. Trying to permanently solve this problem was what motivated me to become a professional stocks investor some years ago. The only account I allow more than N300,000 in is my emergency account which I don't touch except there is an emergency. And my regular savings account? One good side of being a data geek is that I am excellent at budgeting. I have my expenses perfectly modeled and I always keep just what is sufficient for three weeks in my savings account. My income cycle is two to three weeks, being an entrepreneur in the consulting space. From what is due me, every extra above what is sufficient for four weeks, I put in my investment accounts which house a mix of Nigerian stocks, Nigerian bonds, US stocks, US bonds, Gold and two Nigerian equity mutual funds. So what stocks am I invested in? Nestle Nigeria: Over my investing years, I have analysed intensely the financial records of all the investment worthy companies on the Nigerian Stock Exchange from as far back as 2005 and none has an impressive one as Nestle Nigeria. Excellent cash flow management, lovely mix of debt and equity funding, satisfactory revenue growth rates and strategic positioning in their industry. Every year, I go through their annual reports and as long as the story has not changed for bad, I close my eyes to all the price fluctuations it is forced through on the stock market. Total Nigeria: Last month I sold Mobil and bought Total. I had made a good profit off the price surge in Mobil shares after the NIPCO acquisition and Total looked like a bargain in comparison. Total is the largest downstream oil company by revenue in Nigeria. Now they are trading at a deep discount compared to Mobil. So I saw more potential returns in deploying to Total the money tied in Mobil. Dangote Cement: It can be very difficult to love Aliko Dangote after hearing all the special perks he got from government to build the Dangote empire but one thing I can't deny is that he is a result-generating business man. I read the annual reports of many listed companies but none is as interesting and less generic as Dangote Cement's. I have learned some business strategies from reading the chairman's report while other companies' tend to have the usual soul-less talk about the macro economy and vague talk of their impressive performance (even when they make a loss). Reading last year's and the intelligent analysis of the African cement market with the company's detailed big strategy, it was like Dangote Cement is just getting started. He is the quintessential owner-manager who goes all length to make his business successful. Zenith Bank: I bought it after I panicked and sold my First Bank shares when they were taking too long to publish their last year annual reports. Now I am planning to buy First Bank shares again and try not to panic anymore. But I don't intend selling my Zenith shares either. Zenith Bank is doing impressively well, like GTBank but without the terrible customer experience GTBank is sharing. One almost sure way of ruining my day is having to do anything in a GTBank branch and if you ever need to get an issue resolved you can be sure that you'll get more inhuman policies thrown at you than the feeling of having another human being helping you. They've got solid walls between the employees and customers. See how easily I veer into giving damaging remarks about GTBank. That's how powerful the negative effect their lack of good customer relations leave on me. So I won't touch their stocks even with free money. My non-stock owning US Bonds: I sold off my S&P 500 ETF last year December and put half the fund into US Bonds. I believe the US stocks are close to experiencing a market correction. Vanguard Total International Bond Index Fund ETF: This is where I put the other half. It is a collection of non-U.S. dollar-denominated investment-grade bonds. Gold ETF: Two months ago I panicked and sold my Emerging Market Stocks ETF, putting the fund into Gold ETF. The Emerging Market Stocks were getting too positively correlated with the US equities market this year. So I decided to put it in the negatively correlated (to US equities) Gold ETF. Nigerian Bonds: Through Stanbic IBTC Bond mutual fund, I have some money invested in Nigerian bonds. I avoid the Money Market funds as I believe I will get better long term returns elsewhere. And how is my strategy of not saving but investing working out? I think very well. At least, I am more prudent in managing my income and immune to binge spending. Also, I have made some good gains in the stock market. What tools do I use in my Stocks analysis? Well, the annual reports of thelisted companies which I have nicely archived here; this lovely Power BI stocks analysis dashboard and the Nigerian Market Data office app.
  15. You can access the Excel file here: NSE Daily Trade Data
  16. You can access the Excel file here: NSE Daily Trade Data
  17. You can access the Excel file here: NSE Daily Trade Data
  18. You can access the Excel file here: NSE Daily Trade Data
  19. You can access the Excel file here: NSE Daily Trade Data
  20. You can access the Excel file here: NSE Daily Trade Data
  21. You can access the Excel file here: NSE Daily Trade Data
  22. You can access the Excel file here: NSE Daily Trade Data Board Security Day's Volume Open Price Close Price Price Change Change % 52 Week Low 52 Week High EQTY 7UP 12,445 99.75 99.75 -5.25 -5 74 159.9 EQTY ABBEYBDS 1.19 1.19 -0.06 -4.8 EQTY ABCTRANS 0.5 0.5 0.5 0.5 EQTY ACADEMY 100 0.5 0.5 0.5 0.69 EQTY ACCESS 25,728,054 7.58 7.21 -0.37 -4.88 4.3 7.69 EQTY AFRINSURE 0.5 0.5 0.5 0.5 EQTY AFRIPRUD 1,356,718 2.8 2.76 -0.14 -4.83 2.2 3.31 EQTY AFROIL 20.71 20.71 EQTY AFROMEDIA 0.5 0.5 0.5 0.5 EQTY AFRPAINTS 2.47 2.47 2.47 2.47 EQTY AGLEVENT 60,000 0.69 0.69 -0.03 -4.17 0.68 1.17 EQTY AIICO 898,150 0.56 0.54 -0.02 -3.57 0.5 0.85 EQTY AIRSERVICE 101,751 4.46 4.46 -0.23 -4.9 1.7 4.97 EQTY ALEX 9.27 9.27 -0.48 -4.92 EQTY ARBICO 4.56 4.56 -0.23 -4.8 4.79 4.79 EQTY ASHAKACEM 110,020 11.4 11.4 0.44 4.01 9.03 21.03 EQTY ASOSAVINGS 2,000,000 0.5 0.5 0.5 0.5 EQTY AUSTINLAZ 2.19 2.19 0.1 4.78 EQTY AVONCROWN 4,330 1.09 1.09 0.05 4.81 1.04 1.38 EQTY BECOPETRO 0.5 0.5 0.5 0.5 EQTY BERGER 3,426 6.17 6.17 0.29 4.93 6.08 8.3 EQTY BETAGLAS 5,200 45.88 45.88 -2.41 -4.99 28.88 48.29 EQTY BIGTREAT 0.5 0.5 EQTY BOCGAS 2,000 3.35 3.35 3.35 3.89 EQTY CADBURY 1,949,797 11.09 10.65 -0.44 -3.97 7.04 20.5 EQTY CAP 32,070 34.7 34.7 1.65 4.99 27.3 40 EQTY CAPALBETO 95.49 95.49 EQTY CAPHOTEL 3.65 3.65 3.31 3.7 EQTY CAVERTON 0.92 0.92 0.64 1.65 EQTY CCNN 886,450 5.02 5.01 -0.11 -2.15 4.04 8 EQTY CHAMPION 855,405 2.11 2.15 0.04 1.9 1.94 5.13 EQTY CHAMS 2,000 0.5 0.5 0.5 0.5 EQTY CHELLARAM 3.5 3.5 0.09 2.64 EQTY CILEASING 10,000 0.73 0.73 -0.03 -3.95 0.5 0.76 EQTY CONOIL 22,860 31.59 31.59 -1.66 -4.99 18.1 42.6 EQTY CONTINSURE 892,690 1.21 1.2 -0.04 -3.23 0.9 1.34 EQTY CORNERST 150 0.5 0.5 0.5 0.52 EQTY COURTVILLE 0.5 0.5 0.5 0.5 EQTY CUSTODYINS 263,818 3.41 3.41 0.16 4.92 3 4.11 EQTY CUTIX 59,367 2 2 -0.04 -1.96 1.35 2.13 EQTY CWG 2.54 2.54 2.54 2.54 EQTY DAARCOMM 0.5 0.5 0.5 0.5 EQTY DANGCEM 2,097,390 173.3 165.01 -8.29 -4.78 149.26 203.96 EQTY DANGFLOUR 2,678,495 4.3 4.19 -0.22 -4.99 3.38 6.12 EQTY DANGSUGAR 1,047,225 7 6.76 -0.35 -4.92 5.71 7.2 EQTY DEAPCAP 0.5 0.5 0.5 0.52 EQTY DIAMONDBNK 59,198,975 1.05 1 -0.05 -4.76 0.78 2.47 EQTY DNMEYER 0.87 0.87 -0.04 -4.4 0.67 0.99 EQTY DUNLOP 0.5 0.5 0.5 0.5 EQTY EKOCORP 2,000 3.05 3.05 -0.16 -4.98 3.21 3.37 EQTY ELLAHLAKES 4.26 4.26 EQTY ENAMELWA 27.87 27.87 -1.46 -4.98 EQTY EQUITYASUR 0.5 0.5 0.5 0.5 EQTY ETERNA 493,238 4.09 3.89 -0.2 -4.89 2.13 4.09 EQTY ETI 15,318,219 9.78 9.5 -0.28 -2.86 7.02 18.42 EQTY ETRANZACT 5 5 4 6 EQTY EVANSMED 0.5 0.5 0.5 0.5 EQTY FBNH 538,320,869 4.15 4.01 -0.14 -3.37 2.95 4.69 EQTY FCMB 45,459,401 1.11 1.1 -0.01 -0.9 0.92 1.87 EQTY FIDELITYBK 38,099,853 1.03 0.98 -0.05 -4.85 0.76 1.47 EQTY FIDSON 2,194,918 1.92 1.92 -0.1 -4.95 0.89 2.67 EQTY FIRSTALUM 2,100 0.5 0.5 0.5 0.5 EQTY FLOURMILL 3,655,384 20.34 19.33 -1.01 -4.97 16.2 24.54 EQTY FO 1,622,252 52.93 50.29 -2.64 -4.99 42.66 231.51 EQTY FORTISMFB 2.7 2.7 0.12 4.65 EQTY FTNCOCOA 0.5 0.5 0.5 0.5 EQTY GLAXOSMITH 260,355 14.7 16.03 0.76 4.98 13.54 23.22 EQTY GNI 0.5 0.5 0.5 0.5 EQTY GOLDBREW 0.81 0.81 -0.04 -4.71 0.85 0.85 EQTY GOLDINSURE 0.53 0.53 -0.53 -100 EQTY GUARANTY 75,154,022 31.02 30 -1.02 -3.29 16.91 32 EQTY GUINEAINS 5,000 0.5 0.5 0.5 0.5 EQTY GUINNESS 176,490 69 69 2.94 4.45 59.51 115.58 EQTY HMARKINS 0.5 0.5 0.5 0.5 EQTY HONYFLOUR 845,118 1.28 1.27 -0.01 -0.78 0.91 2.15 EQTY IHS 3.8 3.8 3.8 3.8 EQTY IHSNGPREF 2.25 2.25 EQTY IHSPREF 3.08 3.08 EQTY IKEJAHOTEL 1.8 1.8 0.02 1.12 1.63 2.69 EQTY INFINITY 1.47 1.47 0.03 2.08 1.47 1.47 EQTY INTBKPREF 13.5 13.5 EQTY INTBREW 2,695,444 20 20 14.92 20.25 EQTY INTENEGINS 0.5 0.5 0.5 0.5 EQTY INTERLINK 3.61 3.61 -0.19 -5 3.8 3.8 EQTY JAIZBANK 110,900 1 1 -0.05 -4.76 1 1.47 EQTY JAPAULOIL 0.5 0.5 0.5 0.5 EQTY JBERGER 13,038 37.87 37.87 -1.99 -4.99 34.83 50.93 EQTY JOHNHOLT 0.6 0.6 -0.03 -4.76 0.61 0.82 EQTY LASACO 10,000 0.5 0.5 0.5 0.5 EQTY LAWUNION 166,941 0.8 0.8 0.01 1.27 0.5 0.8 EQTY LEARNAFRCA 0.88 0.88 0.03 3.53 0.58 0.89 EQTY LINKASSURE 1,468,100 0.52 0.52 0.5 0.54 EQTY LIVESTOCK 503,550 0.89 0.89 -0.04 -4.3 0.58 1.26 EQTY MANSARD 20,431,156 1.64 1.55 -0.02 -1.27 1.45 2.6 EQTY MAYBAKER 1,358,056 1.34 1.28 -0.06 -4.48 0.8 1.34 EQTY MBENEFIT 0.5 0.5 0.5 0.5 EQTY MEDVIEWAIR 59,600 1.54 1.54 0.07 4.76 1.43 1.57 EQTY MOBIL 340 315.4 315.4 -16.6 -5 155.96 385 EQTY MORISON 1.65 1.65 EQTY MRS 865 37.08 37.08 -1.95 -5 31.93 45.51 EQTY MTECH 0.91 0.91 EQTY MTI 0.5 0.5 0.5 0.5 EQTY MULTITREX 5,000 0.5 0.5 EQTY MULTIVERSE 3,100 0.5 0.5 0.5 0.5 EQTY NAHCO 994,152 3.1 3.09 -0.16 -4.92 2 5.95 EQTY NASCON 779,604 8.4 8.3 -0.1 -1.19 6.33 8.7 EQTY NB 6,494,405 149.95 145.03 -4.92 -3.28 112 164 EQTY NCR 7.89 7.89 0.18 2.33 7.71 9.46 EQTY NEIMETH 1,041,024 0.55 0.53 -0.02 -3.64 0.53 1.13 EQTY NEM 2,204,366 1.02 1.03 0.01 0.98 0.7 1.26 EQTY NESF 524.59 524.59 -27.61 -5 EQTY NESTLE 62,514 834.99 834.99 34.99 4.37 570 855 EQTY NIG-GERMAN 3.44 3.44 -0.18 -4.97 EQTY NIGERINS 0.5 0.5 0.5 0.5 EQTY NIWICABLE 100 100 99.5 19,900.00 0.5 0.5 EQTY NNFM 5.8 5.8 -0.21 -3.49 6.01 6.32 EQTY NPFMCRFBK 5,500 1.37 1.37 0.89 1.44 EQTY NSEASEM 1,195.56 1,195.56 1,136.56 1,218.38 EQTY NSECNSMRGDS 23,344,495 696.97 719.26 22.29 3.2 560.83 774.04 EQTY NSEI EQTY NSEINDUSTR 6,775,559 1,739.79 1,696.76 -43.03 -2.47 1,430.17 2,228.54 EQTY NSELOTUSISLM 10,732,895 1,832.17 1,820.93 -11.24 -0.61 1,561.86 1,988.33 EQTY NSLTECH 0.5 0.5 0.5 0.5 EQTY OANDO 8,942,933 9.07 8.62 -0.45 -4.96 3.54 10.5 EQTY OASISINS 0.5 0.5 0.5 0.71 EQTY OKOMUOIL 273,081 51.9 50.05 -1.85 -3.56 29 52.51 EQTY OMATEK 0.5 0.5 0.5 0.5 EQTY PAINTCOM 0.62 0.62 -0.03 -4.62 0.62 0.99 EQTY PHARMDEKO 9,245 2.05 2.05 -0.03 -1.44 1.62 2.08 EQTY PNG 7.28 7.28 EQTY PORTPAINT 2.01 2.01 0.01 0.5 1.38 2.5 EQTY PREMPAINTS 9.88 9.88 -0.51 -4.91 EQTY PRESCO 711,001 47 47.25 0.25 0.53 35.02 48 EQTY PRESTIGE 0.5 0.5 0.5 0.5 EQTY PZ 920,160 17.3 18.16 0.86 4.97 11.04 23 EQTY REDSTAREX 5,000 4.41 4.41 0.21 5 3.9 4.8 EQTY REGALINS 0.5 0.5 0.5 0.5 EQTY RESORTSAL 0.5 0.5 0.5 0.5 EQTY ROADS 6.93 6.93 0.33 5 6.6 6.6 EQTY ROYALEX 100 0.5 0.5 0.5 0.5 EQTY RTBRISCOE 8,208 0.5 0.5 0.5 0.5 EQTY SCOA 3.59 3.59 -0.18 -4.77 3.77 3.77 EQTY SEPLAT 42,195 402.74 400 -2.74 -0.68 240 425 EQTY SIMCAPVAL 103.24 103.24 -103.24 -100 EQTY SKYEBANK 9,150,838 0.51 0.51 -0.01 -1.92 0.5 1.42 EQTY SKYESHELT 100 100 EQTY SOVRENINS 0.5 0.5 0.5 0.5 EQTY STACO 0.5 0.5 0.5 0.5 EQTY STANBIC 1,905,542 26 25.65 -1.35 -5 12.82 27.56 EQTY STARCOMMS 0.5 0.5 EQTY STDINSURE 0.5 0.5 0.5 0.5 EQTY STERLNBANK 3,177,032 0.71 0.75 0.02 2.74 0.67 1.75 EQTY STERLNRIGHT 57.49 57.49 EQTY STOKVIS 0.14 0.14 EQTY STUDPRESS 2.09 2.09 -0.1 -4.57 EQTY TANTALIZER 100 0.5 0.5 0.5 0.5 EQTY TEXACO 0.5 0.5 EQTY THOMASWY 0.52 0.52 -0.02 -3.7 0.54 0.58 EQTY TOTAL 40,155 269.98 268.9 5.9 2.24 150.41 345 EQTY TOURIST 3.8 3.8 0.15 4.11 3.5 3.68 EQTY TRANSCOHOT 800 5.29 5.29 0.25 4.96 4.77 5.56 EQTY TRANSCORP 29,708,840 1.19 1.14 -0.05 -4.2 0.66 2.13 EQTY TRANSEXPR 100,950 0.79 0.83 0.79 1.82 EQTY TRIPPLEG 1.18 1.18 -0.06 -4.84 1.24 1.53 EQTY UAC-PROP 741,359 1.84 1.84 -0.05 -2.65 1.62 4.51 EQTY UACN 2,209,018 15.51 15.05 -0.46 -2.97 12.02 22 EQTY UBA 10,825,400 7 6.65 -0.35 -5 3.4 7.5 EQTY UBCAPRIGHTS 0.01 0.01 EQTY UBN 60,873 5.19 5.19 0.04 0.78 3.7 5.78 EQTY UCAP 3,128,358 3 2.92 -0.08 -2.67 1.74 4.06 EQTY UHOMREIT 42.96 42.96 -2.26 -5 EQTY UNHOMES 2.87 2.87 -0.15 -4.97 3.02 3.17 EQTY UNIC 0.5 0.5 0.5 0.52 EQTY UNILEVER 334,554 36.21 36 -1.45 -3.87 27.81 50.01 EQTY UNIONDAC 0.5 0.5 0.5 0.5 EQTY UNIONDICON 13.45 13.45 -0.7 -4.95 11.31 17.35 EQTY UNITYBNK 13,355,767 0.58 0.6 0.02 3.45 0.5 1.26 EQTY UNITYKAP 0.5 0.5 0.5 0.5 EQTY UNIVINSURE 0.5 0.5 0.5 0.5 EQTY UPDCREIT 10 10 10 10 EQTY UPL 3.83 3.83 -0.2 -4.96 3.61 5.15 EQTY UTC 0.5 0.5 0.5 0.5 EQTY VANLEER 9 9 -0.09 -0.99 9.69 9.69 EQTY VITAFOAM 1,157,890 2.34 2.3 -0.04 -1.71 1.64 4.9 EQTY WAPCO 3,969,578 49.49 48.1 -1.39 -2.81 34.47 77.96 EQTY WAPIC 6,272,120 0.5 0.5 -0.02 -3.85 0.5 0.56 EQTY WEMABANK 3,559,818 0.51 0.5 0.5 0.88 EQTY ZENITHBANK 106,355,062 19.08 18.13 -0.95 -4.98 13.1 19.08
  23. Exchange Traded Funds (ETFs) on The Nigerian Stock Exchange

    Hi Methodman, You are welcome! To buy the New Gold ETF, you will need to have a stock trading/brokerage account and make a purchase order through that account. Below is a screenshot of what the process looks like from both my Meristerm stock brokerage account and ARM stock brokerage account.
  24. Always Be In For The Long-term

    Today, I watched the movie Rush. image: uphe.com It is one of the most brilliant films I have watched this year. And surprisingly, it is a true life story. It is about two race car drivers who were Formula One rivals. They both were world champions but one was world champion longer. The reason? That one was in it for the long-term, he never let a single win get too much to his head while the other celebrated his only win as if it was everything. I was greatly touched by lessons in that movie -- from being focused and in for the long run to having a good grasp of your field. It taught me to stop envying the people whose success are quicker and bigger than mine. Rather I should never stop improving. Not that my aim should be to beat them or make every more successful young person a rival, but that it is all unnecessary sadness to envy people who will soon flame out. Not all young very successful people flame out, but most do. And as you can't know the seven out of the ten who will flame out, it's in your best interest and motivation to assume everyone will, including you if you don't put in extra-ordinary effort forever. I learned to also never let the voice of passion override that of logic. What ever is logically better is better regardless of the emotions around. Never let your lifestyle balloon because of fashion or trend or what people will say. Finally, it reinforced my belief that in the end what will separate us all is consistent results. There will be two camps: those who keep talking about the good old days and those who keeping making history. I want to be in the later camp. What about you?
  25. I have a few Whatsapp contacts who flood me with regular broadcast messages, from how BBNaija was making millions from SMS voting to the new tactics armed robbers use. The latest I have been getting is about how in the 1960s and 1970s the people at the helm of affairs in Nigeria were youths in their 20s and 30s but now people of that age group are still stuck in their father's house living off their parents. There are many ways people come into wealth and most of them can be classified into two main categories: Rent (being a gatekeeper or by inheritance) and Being innovative (ahead of your time) Our political system is a clear example of how people become wealthy by rent. They use their office to extract value from others; they collect rent like the Agbero at the bus-stop. It is a no brainer system. Just get yourself into a position where you can abuse your office to get others to drop something for you. I hear some police officers and LASTMA officials make their entire monthly salary in one day of extracting money from people. If you are born into a rich family where your parents have left you income generating properties and assets, you benefit from rent. Earning money from something you did not sweat for. It is not a bad thing and it is the very dream we all have for our children. If you are close to government and can get juicy deals that give you nice cuts, like supply the state government ministries diesel, you are again benefiting from rent. Using a closed advantage to get be the gatekeeper/middleman between the diesel sellers and government houses. The unique thing about rent wealth is that it is limited and often non-merit based. So it is not the type you expect everyone to pursue. There can only be one President of Nigeria, only few people are born into a wealthy family, only few people can work themselves into every government contract and, hopefully, not everyone should try to abuse their office for illicit gain. The other main path to wealth is by pure merit and being very innovative, I call it being ahead of your time. It is when you position yourself above the competition and create avenues to wealth that is purely merit based. Like growing your professional career, starting a genuine business (not a shell one to launder money) and selling, without any undue advantage, services and products. This is the path available to everyone and also a much tougher path. You will have to do what other people are not willing to do -- either because it is too difficult or too risky. And that is why I call it being ahead of your time. You have to make moves that position you for the future, things not obvious to other people in the present time. The second path is what many of the bank billionaires followed in the 1990s when they saw the future others weren't seeing and took the risk of starting a bank. Many of the banks flourishing now were founded in the late 1980s and early 1990s. Access bank, 1989. Diamond bank, 1990, Ecobank, 1986. Fidelity bank, 1988. FCMB, 1982. GTBank, 1990. Heritage bank, 1989. Stanbic IBTC, 1989. Zenith Bank, 1990. The exceptions are First Bank, Union bank, Standard Chartered Bank and UBA. Other notable example of the second path is the Nigerian musicians of the late 1990s and early 2000s. They positioned themselves for the Nigerian market shift from both foreign music and live band music. The rise of the Plantashun Boiz, Daddy Showkey, Baba Fryo, Idris Abdulkareem, Tony Tetuila, Sound Sultan and the Kennis Music label. The hallmark of the second path is that you see people doing what is difficult and doesn't look very rewarding, but they keep at and then they encounter a breakthrough -- either they create a product that captures the market or their industry explodes skyrocketing the incumbents. And that is the type of wealth accumulation you would want everyone to pursue -- one gotten from pure merit and diligence. So when you compare people who suddenly went from being soldiers to political leaders because of exceptional circumstances, many of whom never planned or expected the uplift, with people who are on the hard labour path to wealth, you are doing an apple to coconut comparison. All the people who were suddenly thrust into political power due to the 1960s and 1970s turmoil cannot replicate the same if they were reborn today. If one takes out the unplanned (chance events) they will just be regular soldiers like the they should have been. But if you take a proper business man who worked hard for his money and strip him of everything, he can replicate his success. If you take 2face and those other musicians who worked their own ways to stardom and have them reborn in another generation penniless, they will blossom again. Which path is better? It is the path more easily accessible to you. If I have a billionaire father or very politically connected parents I won't disown them and try to start my wealth building from scratch. I will gladly use the rent income/access they afford me and try to multiply it. But if I have no one to leech on then I better roll up my sleeves and get to work, it would be a hard uphill task and the earlier the better.
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