Yes, a joint account can generate interest, but it depends on the type of account and the bank's terms. For example: Joint savings account: Usually earns interest, just like an individual savings account, if the bank pays interest on that account type. Joint current account: Normally does not earn iRead more
Yes, a joint account can generate interest, but it depends on the type of account and the bank’s terms.
For example:
Joint savings account: Usually earns interest, just like an individual savings account, if the bank pays interest on that account type.
Joint current account: Normally does not earn interest on the balance, although this depends on the specific product.
Joint fixed/term deposit: Can earn interest, often at a higher rate than a normal savings account.
Joint domiciliary/foreign-currency account: Interest treatment varies by bank and product.
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost. The CBN's current rules specifically provide for reclaiming dormant/unclaimed balances by a legal reprRead more
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost.
The CBN’s current rules specifically provide for reclaiming dormant/unclaimed balances by a legal representative, beneficiary or next-of-kin, provided the required evidence of entitlement is supplied. �
Central Bank of Nigeria
What you should do
1. Identify the bank and account
Find out the bank where she maintained the account.
If you know the account number, keep it.
If you don’t know the account number, the bank may still be able to investigate using her full name and other identifying information, subject to its verification procedures.
2. Establish that you have legal authority to claim If she died without leaving the money directly to you through an appropriate legal arrangement, you normally cannot simply walk into the bank and withdraw it because you are her child/relative.
You will generally need Probate or Letters of Administration or other appropriate evidence establishing your legal entitlement to the estate. CBN rules recognize executors/administrators for winding up a deceased person’s estate. �
Central Bank of Nigeria +1
3. Check whether the money has been transferred to the CBN’s Unclaimed Balances Trust Fund
After prolonged dormancy, qualifying balances can be transferred to the CBN. The CBN now provides an online search facility where you can search for unclaimed balances by account name or account number. �
CBN Unclaimed Balance Trust Fund
CBN Unclaimed Balance Trust Fund search�
4. If you find the account, approach the bank The CBN’s current guidance says a next-of-kin, legal representative or beneficial owner can make a claim through the financial institution, supported by the necessary legal evidence of title. �
Central Bank of Nigeria
Important point
If your loved one died in 2006, I would not start by assuming the money is still sitting at the original bank branch. There is a good possibility that, if the account remained untouched for many years, it may now be classified as a dormant/unclaimed balance and potentially transferred to the CBN’s trust fund.
Also, there is no fee for processing an unclaimed-balance reclaim under the CBN’s stated guidelines. �
In Nigeria, a child can ultimately inherit a late father's shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased's eRead more
In Nigeria, a child can ultimately inherit a late father’s shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased’s estate.
1. First establish whether there was a Will
There are two main situations:
A. Father left a valid Will
The Will should identify the beneficiaries and appoint an executor/executors.
The executor obtains a Grant of Probate from the appropriate Probate Registry.
The executor then administers the investments according to the Will.
B. Father died without a Will
The family applies for Letters of Administration.
The Probate Registry appoints the administrator(s).
The administrator(s) collect and administer the deceased’s investments before distributing them to the lawful beneficiaries.
For shares specifically, SEC rules provide for transmission to the deceased’s legal representatives, subject to the required documentation. �
SEC Nigeria +1
2. Find all the father’s investments
This is very important because families sometimes know about only one or two investments.
Look for:
CSCS statement/CHN
Stockbroker account details
Share certificates
Dividend warrants or e-dividend records
Bank statements showing dividend payments
Mutual fund statements
Money-market fund accounts
Treasury bills/bonds
Investment apps/platforms
Pension or insurance investments
Fixed deposits
Other securities
If the family doesn’t know which shares he owned, CSCS has services such as Global Search, stock-position statements and portfolio valuation that can help establish holdings. �
CSCS
3. Obtain the death certificate
The original death certificate or acceptable certified documentation will normally be required when processing the deceased’s investments. SEC’s published transmission requirements specifically include the original death certificate for sighting. �
SEC Nigeria
4. Obtain Probate or Letters of Administration
This is usually the critical step.
The family should approach the Probate Registry of the appropriate State High Court to process the estate.
The legal representative—not simply one of the children—will generally be the person authorised to deal with the investments.
5. Approach the stockbroker/registrar/CSCS
Once Probate or Letters of Administration has been obtained, the legal representative can approach the relevant institutions.
For Nigerian shares, the process can involve:
CSCS → Stockbroker → Registrar
CSCS confirms that for an estate account, documentation can include the Will/Letter of Administration, along with identification for the person being captured on behalf of the estate. �
CSCS
The registrar may require documents including:
Letter introducing the executor/administrator
Death certificate
Probate or Letters of Administration
Newspaper advert/Gazette where applicable
Evidence that the deceased owned the shares, such as CSCS statements, share certificates or dividend records. �
SEC Nigeria
6. The assets are then distributed to the beneficiaries
Suppose the deceased left:
₦20 million in Nigerian shares
₦10 million in a money-market fund
₦5 million in Treasury bills
₦3 million in other investments
The total investment estate could be ₦38 million.
The executor/administrator doesn’t simply give the entire ₦38 million to the eldest child. The assets are administered according to the Will or applicable succession law, after settling legitimate estate obligations and expenses.
If the child is a minor, the situation is different. The child’s inheritance may need to be held and administered by an appropriate legal representative/trustee until the child reaches the relevant age or pursuant to the court’s directions.
Important point
Being the deceased’s biological child does not, by itself, give the child authority to sell or withdraw the father’s shares.
The safer sequence is:
Father dies → locate investments → obtain death certificate → Probate/Letters of Administration → identify estate assets → transmission/collection → settle estate obligations → distribute to beneficiaries.
Also, don’t allow a family member to sell the deceased’s shares merely because they possess his CSCS statement, password, phone or broker details. There have been regulatory cases involving unauthorised dealings in deceased investors’ shares, and the SEC has required restoration of shares to estates.
SEC Nigeria
If you are starting your financial journey, I’d recommend reading books in a specific order—not just reading random “money” books. 📚 My recommended reading order Order Book What it teaches 1 The Psychology of Money — Morgan Housel How your behaviour and emotions affect money 2 The Richest Man in BabRead more
If you are starting your financial journey, I’d recommend reading books in a specific order—not just reading random “money” books.
📚 My recommended reading order
Order
Book
What it teaches
1
The Psychology of Money — Morgan Housel
How your behaviour and emotions affect money
2
The Richest Man in Babylon — George S. Clason
Saving, spending discipline and building wealth
3
The Total Money Makeover — Dave Ramsey
Budgeting, debt management and financial discipline
4
The Millionaire Next Door — Thomas J. Stanley & William D. Danko
How ordinary people actually build wealth
5
I Will Teach You to Be Rich — Ramit Sethi
Practical systems for saving, spending and investing
6
The Intelligent Investor — Benjamin Graham
Understanding stocks and long-term investing
7
One Up On Wall Street — Peter Lynch
How to think about and research individual companies
8
A Random Walk Down Wall Street — Burton Malkiel
Diversification, index investing and market theory
9
The Simple Path to Wealth — JL Collins
Long-term wealth building through simple investing
10
The Millionaire Fastlane — MJ DeMarco
Entrepreneurship, business ownership and creating wealth
⭐ If you can only read 3
Start with:
1. The Psychology of Money
This should be your first. It helps you understand why people make good or bad financial decisions.
2. The Richest Man in Babylon
Very simple but powerful lessons about saving, controlling expenses and making your money work for you.
3. The Intelligent Investor
Read this when you’re ready to move seriously into investing. It is more technical, so don’t make it your first book.
If your goal is to run the business professionally today and make it attractive for loans, investors, partnerships, or expansion later, you should build the payment system around proper financial records—not just around receiving money. A good structure for a Nigerian small business looks like this:Read more
If your goal is to run the business professionally today and make it attractive for loans, investors, partnerships, or expansion later, you should build the payment system around proper financial records—not just around receiving money.
A good structure for a Nigerian small business looks like this:
1. Separate business money from personal money
This is the most important first step.
Have:
Business bank account → all customer payments enter here.
Business expense account/card → suppliers, transport, internet, utilities, etc.
Personal account → your salary/drawings go here.
Don’t collect business revenue into your personal account and don’t pay personal expenses directly from the business account.
CAC notes that registration gives a business legal recognition and enables access to corporate banking and other financial services. �
Corporate Affairs Commission +1
If you’re currently operating informally, you can register a business name through the CAC portal. �
Corporate Affairs Commission
2. Create one official payment channel
Give customers one business payment identity.
For example:
Business Name: Usha Ventures
Bank: XYZ Bank
Account Name: Usha Ventures
Account Number: XXXXXXXX
You can additionally use a reputable payment gateway/POS system for card, transfer and other electronic payments.
The important thing is that every sale must eventually appear in your business records.
3. Issue receipts/invoices
For every transaction, record:
Date
Customer
Description
Amount
Payment method
2 Sept
John
Product A
₦50,000
Transfer
2 Sept
Mary
Product B
₦30,000
POS
3 Sept
David
Service
₦100,000
Transfer
Don’t rely on your bank statement alone. Your accounting records should explain why each ₦1 entered or left the business.
FIRS’s systems also provide for electronic invoices/receipts and transaction reporting. �
FIRS ATRS +1
4. Divide every ₦100 of revenue
This is where your future investment readiness begins.
Suppose your business receives ₦1,000,000 in a month.
Don’t think:
“I made ₦1 million.”
Instead:
₦1,000,000 revenue
→ Cost of goods/services
→ Operating expenses
→ Tax provision
→ Owner’s salary/drawings
→ Emergency/business reserve
→ Retained profit
→ Reinvestment
For example, you could establish a policy such as:
50% — inventory/direct costs
15% — operating expenses
10% — tax/compliance reserve
10% — business emergency reserve
10% — reinvestment
5% — owner’s discretionary withdrawal
Those percentages are only an example. Your actual percentages should depend on your type of business.
5. Pay yourself a fixed amount
This is a major difference between a business and personal hustle.
Instead of:
“Whenever I need money, I take money from the business.”
Set something like:
Owner’s monthly salary/drawing: ₦150,000
Then transfer that amount from the business account to your personal account.
If you need additional money, record it separately as an owner’s withdrawal, rather than pretending it is a business expense.
6. Keep proper financial records
At minimum, maintain:
A. Sales register
Every sale.
B. Expense register
Every business expense.
C. Inventory record
What you bought, sold and have remaining.
D. Bank reconciliation
Compare your accounting records with your bank statement.
E. Monthly Profit & Loss
For example:
Sales: ₦2,000,000
Cost of goods: ₦1,100,000
Gross profit: ₦900,000
Operating expenses: ₦400,000
Net profit: ₦500,000
F. Cash-flow statement
This tells you where your cash actually went.
7. Create a business reserve
Don’t invest all your profits.
Build a reserve that can cover several months of essential business expenses.
For example, if essential monthly expenses are ₦400,000:
3-month reserve = ₦1.2 million
As the business grows, you can target 6 months or more.
Keep this reserve somewhere relatively liquid and separate from your everyday spending.
8. Separate business investment from personal investment
This is particularly important if you eventually want to invest in things such as Nigerian stocks, bonds, or money-market funds.
You could have:
Business
Business bank account
Business reserve
Business investments
Business assets
Personal
Personal savings
Personal emergency fund
Personal investments
Personal retirement/long-term portfolio
Don’t make it difficult to determine whether an investment belongs to you personally or to the business.
9. Build an “investor-ready” financial file
Every month, save:
Bank statements
Sales report
Expense report
Profit & loss statement
Cash-flow statement
Inventory report
Tax records
Invoices/receipts
Major supplier agreements
Customer contracts
Asset register
Payroll records, if you have employees
This becomes extremely valuable if one day you approach a bank, investor or business partner.
10. Think about taxes from the beginning
Don’t wait until the business becomes large before considering tax and compliance.
Nigeria’s tax environment has specific requirements depending on whether you’re operating as a business name, company, employer, and depending on your activities and turnover. FIRS provides systems for tax registration, remittance and electronic invoicing/receipts. �
FIRS ATRS +1
For anything involving significant tax liability, have a Nigerian accountant/tax professional review your particular structure.
Estate planning in Nigeria is the process of deciding how your money, properties, investments, businesses, and other assets will be managed and distributed during your lifetime and after your death. It is not only for rich people. Anyone who owns a house, land, bank savings, shares, investments, a bRead more
Estate planning in Nigeria is the process of deciding how your money, properties, investments, businesses, and other assets will be managed and distributed during your lifetime and after your death.
It is not only for rich people. Anyone who owns a house, land, bank savings, shares, investments, a business, or other valuable assets can benefit from estate planning.
Main parts of estate planning in Nigeria
Making a Will
A legal document stating who should inherit your assets when you die.
You can name beneficiaries and appoint an executor to administer your estate.
Asset inventory
Listing your properties and investments, such as:
Houses and land
Bank accounts
Shares and bonds
Money market funds
Businesses
Vehicles
Insurance policies
Digital assets
Choosing beneficiaries
Deciding who should receive particular assets—for example, your spouse, children, parents, or other people you choose, subject to applicable Nigerian law.
Business succession planning
If you own a business, planning who will take over or how the business will be transferred when you die or become unable to manage it.
Trusts
In appropriate circumstances, assets can be placed in a trust and managed for beneficiaries according to specified terms.
Joint ownership and nominations
Certain assets may have joint ownership or beneficiary/nominated-person arrangements. These need to be structured carefully because the legal effect varies by asset and institution.
Planning for dependants
You can make arrangements for children and other dependants who may need financial support after your death.
Simple Nigerian example
Suppose you have:
A house worth ₦50 million
Land worth ₦20 million
₦10 million in investments
₦5 million in shares
A business worth ₦15 million
Your estate is potentially worth ₦100 million.
Estate planning would involve deciding who inherits these assets, how they should be transferred, who will manage them, and how to reduce disputes and unnecessary delays.
Why estate planning is important
Without proper planning, your family may face:
Disputes over property
Delays in accessing assets
Problems identifying all your investments
Business succession problems
Legal and administrative costs
Family disagreements over inheritance
In Nigeria, estate planning should be done with attention to applicable succession laws, customary/religious considerations, the location of the property, and the type of asset. A Nigerian solicitor experienced in wills and succession can help you structure it properly.
1. Chevening Scholarship — UK 🇬🇧 This is one of the best options for a Nigerian Master's applicant. The 2027–28 Chevening application is currently open and closes 6 October 2026 at 11:00 UTC. � Chevening +1 Usually covers: Full tuition Monthly living allowance Return flight Arrival allowance Visa-reRead more
1. Chevening Scholarship — UK 🇬🇧
This is one of the best options for a Nigerian Master’s applicant.
The 2027–28 Chevening application is currently open and closes 6 October 2026 at 11:00 UTC. �
Chevening +1
Usually covers:
Full tuition
Monthly living allowance
Return flight
Arrival allowance
Visa-related allowance
Other permitted allowances
Chevening is for one-year taught Master’s degrees. It does not fund PhDs. �
Chevening
Main requirements include:
Nigerian citizenship
An undergraduate degree that qualifies you for postgraduate study in the UK
Relevant work experience
Leadership/influence potential
Strong application essays
Application to eligible UK Master’s courses
Apply/learn about Chevening for Nigeria�
2. Commonwealth Master’s Scholarship — UK 🇬🇧
Very important for Nigerian students.
Applications for the 2027/28 academic year open 8 September 2026 and close 20 October 2026 at 16:00 BST. �
Commonwealth Scholarships UK
It is intended for talented students from eligible low- and middle-income Commonwealth countries, including Nigeria.
Level: Master’s
Typical support includes:
Tuition fees
Living allowance
Travel support
Other scholarship allowances
The programme is designed for students who otherwise could not afford to study in the UK. �
Commonwealth Scholarships UK
Typical eligibility:
Nigerian/Commonwealth citizenship
First degree
Strong academic record
Admission/appropriate course requirements
Demonstrated development impact/potential
You normally need to satisfy the scholarship’s financial/eligibility conditions.
Commonwealth Master’s Scholarship official page�
My advice: Start preparing now, because applications open in only a few days.
3. Commonwealth PhD Scholarship — UK 🇬🇧
If you are looking for a PhD, this should be one of your first targets.
Applications for 2027/28 open 8 September 2026 and close 20 October 2026. �
Commonwealth Scholarships UK
Typical requirements include:
Nigerian citizenship
Relevant Master’s degree
Strong academic background
A suitable PhD research proposal
Evidence that the research has developmental relevance
Appropriate university/supervisor arrangements
The scholarship is specifically aimed at doctoral research that can contribute to development in Commonwealth countries. �
Commonwealth Scholarships UK
Commonwealth PhD official information�
4. Gates Cambridge Scholarship — UK 🇬🇧
This is an extremely competitive scholarship at the University of Cambridge.
Level: Master’s/PhD and other eligible postgraduate programmes.
It can provide comprehensive funding, making it particularly attractive if you need tuition, living costs and other expenses covered.
The 2027 cycle is opening around September 2026, with different deadlines depending on the course. A current scholarship listing also indicates deadlines in October 2026, December 2026 and January 2027 depending on the programme. �
Scholarships for Development
Important: You must first identify an eligible Cambridge course and meet its academic admission requirements.
Gates Cambridge�
5. Mastercard Foundation Scholars Program 🌍
This is particularly interesting if you are seeking Bachelor’s or Master’s funding.
The Mastercard Foundation Scholars Program operates through partner universities, rather than allowing students to simply submit one general application to the Foundation.
It supports:
Tuition
Accommodation
Books/academic materials
Mentoring
Counselling
Leadership development
In applicable cases, return air travel. �
Mastercard Foundation +1
It supports secondary, undergraduate and Master’s levels, but currently does not offer PhD scholarships. �
Mastercard Foundation
Important for you: Look specifically for Mastercard Foundation partner universities currently accepting applications from Nigerian/African students.
Mastercard Foundation Scholars Program�
6. DAAD Scholarships — Germany 🇩🇪
DAAD has many scholarships for African students, particularly for Master’s and PhD programmes.
The exact requirements depend heavily on the particular DAAD programme.
For example, some DAAD development-related postgraduate programmes provide tuition support and scholarship funding. �
DAAD
Common requirements:
Bachelor’s degree for Master’s
Master’s degree for PhD
Strong academic record
Relevant field
Language requirements depending on programme
CV
Motivation letter
Recommendation letters
Sometimes professional experience
DAAD official scholarship database�
7. Erasmus Mundus Joint Master’s — Europe 🇪🇺
This is another excellent option for a Nigerian graduate.
You apply to a specific Erasmus Mundus Joint Master’s programme, and many programmes offer highly generous scholarships.
Depending on the programme, funding can include:
Tuition
Monthly stipend
Travel
Installation allowance
Insurance
The exact amount and eligibility depend on the individual programme.
Erasmus+ official information�
Money Market Mutual Funds (MMFs), there are two different investment systems in Nigeria: Stock market you buy shares of companies. Money Market Mutual Fund — you pool your money with other investors, and a professional fund manager invests it mainly in short-term instruments. Here is how each works.Read more
Money Market Mutual Funds (MMFs), there are two different investment systems in Nigeria:
Stock market you buy shares of companies.
Money Market Mutual Fund — you pool your money with other investors, and a professional fund manager invests it mainly in short-term instruments.
Here is how each works.
1. Nigerian Stock Market
The Nigerian Exchange (NGX) is where many publicly listed Nigerian companies’ shares are bought and sold.
For example, if you buy 1,000 shares of a listed company, you become a shareholder of that company. You can potentially make money in two ways:
Capital appreciation: You buy at ₦50 and later sell at ₦70 → ₦20 profit per share.
Dividends: The company may distribute part of its profits to shareholders.
But the reverse can also happen. If you buy at ₦50 and the price falls to ₦35, your investment has lost value unless the price later recovers.
Nigerian Exchange Group
How you invest:
You → Stockbroker → NGX → Company shares → CSCS records your ownership
You normally open an account with a licensed stockbroker, and your securities can be held through the Central Securities Clearing System (CSCS).
Nigerian Exchange Group
2. Money Market Mutual Fund
This works differently.
Suppose 10,000 people each put money into a Money Market Fund. The fund manager pools the money together and invests it in instruments such as:
Treasury bills
Commercial papers
Certificates of deposit
Other short-term fixed-income/money-market instruments
The fund manager earns returns from those investments, and the value/income of the fund is reflected in the investors’ units.
NGX describes mutual funds as pools of money from many investors managed professionally and invested in assets such as stocks, bonds and money-market instruments.
Nigerian Exchange Group
For example:
You invest ₦1,000,000 → Fund manager invests the pooled money → Fund earns income → Your fund value increases.
Unlike buying an individual company’s shares, you are not directly buying shares in companies when you invest in an MMF.
The major difference
Feature
Stock Market
Money Market Fund
What you buy
Company shares
Units in a fund
Main objective
Growth + dividends
Income/preservation of capital
Risk
Generally higher
Generally lower, but not risk-free
Who manages it?
You/your broker choose shares
Professional fund manager
Price movement
Can be large
Usually more stable
Diversification
You choose it
Fund manager diversifies
Liquidity
Sell through broker
Redeem units according to fund terms
Possible loss
Yes
Yes, although typically lower volatility
No if your ₦20 million is genuinely invested in a SEC-regulated Money Market Fund (MMF), it is not correct to say that you would automatically receive only ₦5 million if the investment platform shuts down. The important distinction is between the investment platform and the actual MMF/fund assets. HRead more
No if your ₦20 million is genuinely invested in a SEC-regulated Money Market Fund (MMF), it is not correct to say that you would automatically receive only ₦5 million if the investment platform shuts down.
The important distinction is between the investment platform and the actual MMF/fund assets.
How it normally works
If you invest ₦20 million through a platform such as InvestNaija, and the money is actually invested in a properly constituted and SEC-registered MMF:
Your ₦20m represents units/interests in the fund, not a deposit with the app.
The fund’s assets should be held separately through the fund’s custodian/trustee arrangements.
SEC’s guidance specifically identifies asset segregation and independent custodial arrangements as important investor protections. �
SEC Nigeria
Therefore, if the platform/agent fails, that does not automatically mean your ₦20m disappears or that you are limited to ₦5m.
The fund assets are supposed to be separate from the platform’s own assets.
Where does the ₦5 million figure come from?
This is where people often get confused.
The ₦5 million figure is not a general “MMF insurance limit” that means every Nigerian MMF investor can only recover ₦5m.
For example, the SEC’s current investor-protection framework provides an Investors Protection Fund for certain losses involving regulated capital-market operators, but that is a different mechanism from saying that every MMF investment is insured only up to ₦5m. �
SEC Nigeria +1
Also, an MMF is not the same thing as a bank deposit, so you shouldn’t automatically apply NDIC deposit-insurance limits to an MMF.
The most important thing for your ₦20m
I would verify exactly which MMF you are invested in and who the fund manager and custodian are.
SEC says investors should verify that operators are registered before investing. �
SEC Nigeria
So, for example, if your InvestNaija account says:
₦20,000,000 — Money Market Fund
I would want to establish:
1. Name of the actual MMF
2. Fund Manager
3. Trustee
4. Custodian
5. SEC registration status
6. Whether your ₦20m is actually recorded as units in that fund
If those are all properly established, the failure of the app/platform itself should not mean you are automatically capped at ₦5m.
The main reason it can be difficult to sell is low liquidity—there may not be enough buyers at the price you want. For example, NGX data shows that TOTAL traded only 1,345 shares on August 27, 2026, 6,074 on August 26, and 5,115 on August 24. That is quite small compared with the company's 339.5 milRead more
The main reason it can be difficult to sell is low liquidity—there may not be enough buyers at the price you want.
For example, NGX data shows that TOTAL traded only 1,345 shares on August 27, 2026, 6,074 on August 26, and 5,115 on August 24. That is quite small compared with the company’s 339.5 million shares outstanding.
Nigerian Exchange Group +1
Why this happens
Few buyers at a particular price
If you place an order to sell at ₦640, for example, you need someone willing to buy at ₦640. If there are few buyers, your order may remain pending.
TOTAL is not one of the most actively traded NGX stocks
The recent trading figures show periods of very low daily activity. This makes it harder to sell a large quantity immediately without affecting the price. �
Nigerian Exchange Group
The price can remain unchanged for several days
NGX currently shows TOTAL at ₦576, after recently trading at ₦640.
Nigerian Exchange Group
Your broker may have an order waiting for a buyer
Selling shares on the NGX isn’t like withdrawing money from a bank account. Your broker sends a sell order to the market, and it is executed when a matching buyer is available.
Does a Joint Bank Account Earn Interest in Nigeria?
Yes, a joint account can generate interest, but it depends on the type of account and the bank's terms. For example: Joint savings account: Usually earns interest, just like an individual savings account, if the bank pays interest on that account type. Joint current account: Normally does not earn iRead more
Yes, a joint account can generate interest, but it depends on the type of account and the bank’s terms.
See lessFor example:
Joint savings account: Usually earns interest, just like an individual savings account, if the bank pays interest on that account type.
Joint current account: Normally does not earn interest on the balance, although this depends on the specific product.
Joint fixed/term deposit: Can earn interest, often at a higher rate than a normal savings account.
Joint domiciliary/foreign-currency account: Interest treatment varies by bank and product.
Can I Still Claim a Deceased Relative’s Bank Account in Nigeria After 20 Years?
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost. The CBN's current rules specifically provide for reclaiming dormant/unclaimed balances by a legal reprRead more
Yes. If the loved one died in 2006, you may still be able to claim money held in her Nigerian bank account in 2026. The fact that 20 years have passed does not automatically mean the money is lost.
See lessThe CBN’s current rules specifically provide for reclaiming dormant/unclaimed balances by a legal representative, beneficiary or next-of-kin, provided the required evidence of entitlement is supplied. �
Central Bank of Nigeria
What you should do
1. Identify the bank and account
Find out the bank where she maintained the account.
If you know the account number, keep it.
If you don’t know the account number, the bank may still be able to investigate using her full name and other identifying information, subject to its verification procedures.
2. Establish that you have legal authority to claim If she died without leaving the money directly to you through an appropriate legal arrangement, you normally cannot simply walk into the bank and withdraw it because you are her child/relative.
You will generally need Probate or Letters of Administration or other appropriate evidence establishing your legal entitlement to the estate. CBN rules recognize executors/administrators for winding up a deceased person’s estate. �
Central Bank of Nigeria +1
3. Check whether the money has been transferred to the CBN’s Unclaimed Balances Trust Fund
After prolonged dormancy, qualifying balances can be transferred to the CBN. The CBN now provides an online search facility where you can search for unclaimed balances by account name or account number. �
CBN Unclaimed Balance Trust Fund
CBN Unclaimed Balance Trust Fund search�
4. If you find the account, approach the bank The CBN’s current guidance says a next-of-kin, legal representative or beneficial owner can make a claim through the financial institution, supported by the necessary legal evidence of title. �
Central Bank of Nigeria
Important point
If your loved one died in 2006, I would not start by assuming the money is still sitting at the original bank branch. There is a good possibility that, if the account remained untouched for many years, it may now be classified as a dormant/unclaimed balance and potentially transferred to the CBN’s trust fund.
Also, there is no fee for processing an unclaimed-balance reclaim under the CBN’s stated guidelines. �
How Can a Child Claim His Late Father’s Shares and Investments in Nigeria?
In Nigeria, a child can ultimately inherit a late father's shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased's eRead more
In Nigeria, a child can ultimately inherit a late father’s shares, mutual funds, bonds, money-market investments and other financial assets, but normally the child cannot simply approach the stockbroker and withdraw or transfer them. The assets first have to be dealt with as part of the deceased’s estate.
See less1. First establish whether there was a Will
There are two main situations:
A. Father left a valid Will
The Will should identify the beneficiaries and appoint an executor/executors.
The executor obtains a Grant of Probate from the appropriate Probate Registry.
The executor then administers the investments according to the Will.
B. Father died without a Will
The family applies for Letters of Administration.
The Probate Registry appoints the administrator(s).
The administrator(s) collect and administer the deceased’s investments before distributing them to the lawful beneficiaries.
For shares specifically, SEC rules provide for transmission to the deceased’s legal representatives, subject to the required documentation. �
SEC Nigeria +1
2. Find all the father’s investments
This is very important because families sometimes know about only one or two investments.
Look for:
CSCS statement/CHN
Stockbroker account details
Share certificates
Dividend warrants or e-dividend records
Bank statements showing dividend payments
Mutual fund statements
Money-market fund accounts
Treasury bills/bonds
Investment apps/platforms
Pension or insurance investments
Fixed deposits
Other securities
If the family doesn’t know which shares he owned, CSCS has services such as Global Search, stock-position statements and portfolio valuation that can help establish holdings. �
CSCS
3. Obtain the death certificate
The original death certificate or acceptable certified documentation will normally be required when processing the deceased’s investments. SEC’s published transmission requirements specifically include the original death certificate for sighting. �
SEC Nigeria
4. Obtain Probate or Letters of Administration
This is usually the critical step.
The family should approach the Probate Registry of the appropriate State High Court to process the estate.
The legal representative—not simply one of the children—will generally be the person authorised to deal with the investments.
5. Approach the stockbroker/registrar/CSCS
Once Probate or Letters of Administration has been obtained, the legal representative can approach the relevant institutions.
For Nigerian shares, the process can involve:
CSCS → Stockbroker → Registrar
CSCS confirms that for an estate account, documentation can include the Will/Letter of Administration, along with identification for the person being captured on behalf of the estate. �
CSCS
The registrar may require documents including:
Letter introducing the executor/administrator
Death certificate
Probate or Letters of Administration
Newspaper advert/Gazette where applicable
Evidence that the deceased owned the shares, such as CSCS statements, share certificates or dividend records. �
SEC Nigeria
6. The assets are then distributed to the beneficiaries
Suppose the deceased left:
₦20 million in Nigerian shares
₦10 million in a money-market fund
₦5 million in Treasury bills
₦3 million in other investments
The total investment estate could be ₦38 million.
The executor/administrator doesn’t simply give the entire ₦38 million to the eldest child. The assets are administered according to the Will or applicable succession law, after settling legitimate estate obligations and expenses.
If the child is a minor, the situation is different. The child’s inheritance may need to be held and administered by an appropriate legal representative/trustee until the child reaches the relevant age or pursuant to the court’s directions.
Important point
Being the deceased’s biological child does not, by itself, give the child authority to sell or withdraw the father’s shares.
The safer sequence is:
Father dies → locate investments → obtain death certificate → Probate/Letters of Administration → identify estate assets → transmission/collection → settle estate obligations → distribute to beneficiaries.
Also, don’t allow a family member to sell the deceased’s shares merely because they possess his CSCS statement, password, phone or broker details. There have been regulatory cases involving unauthorised dealings in deceased investors’ shares, and the SEC has required restoration of shares to estates.
SEC Nigeria
What Books Should Beginners Read to Start Their Financial Journey in Nigeria?
If you are starting your financial journey, I’d recommend reading books in a specific order—not just reading random “money” books. 📚 My recommended reading order Order Book What it teaches 1 The Psychology of Money — Morgan Housel How your behaviour and emotions affect money 2 The Richest Man in BabRead more
If you are starting your financial journey, I’d recommend reading books in a specific order—not just reading random “money” books.
See less📚 My recommended reading order
Order
Book
What it teaches
1
The Psychology of Money — Morgan Housel
How your behaviour and emotions affect money
2
The Richest Man in Babylon — George S. Clason
Saving, spending discipline and building wealth
3
The Total Money Makeover — Dave Ramsey
Budgeting, debt management and financial discipline
4
The Millionaire Next Door — Thomas J. Stanley & William D. Danko
How ordinary people actually build wealth
5
I Will Teach You to Be Rich — Ramit Sethi
Practical systems for saving, spending and investing
6
The Intelligent Investor — Benjamin Graham
Understanding stocks and long-term investing
7
One Up On Wall Street — Peter Lynch
How to think about and research individual companies
8
A Random Walk Down Wall Street — Burton Malkiel
Diversification, index investing and market theory
9
The Simple Path to Wealth — JL Collins
Long-term wealth building through simple investing
10
The Millionaire Fastlane — MJ DeMarco
Entrepreneurship, business ownership and creating wealth
⭐ If you can only read 3
Start with:
1. The Psychology of Money
This should be your first. It helps you understand why people make good or bad financial decisions.
2. The Richest Man in Babylon
Very simple but powerful lessons about saving, controlling expenses and making your money work for you.
3. The Intelligent Investor
Read this when you’re ready to move seriously into investing. It is more technical, so don’t make it your first book.
What Payment System Is Best for Managing Small Business Finances in Nigeria?
If your goal is to run the business professionally today and make it attractive for loans, investors, partnerships, or expansion later, you should build the payment system around proper financial records—not just around receiving money. A good structure for a Nigerian small business looks like this:Read more
If your goal is to run the business professionally today and make it attractive for loans, investors, partnerships, or expansion later, you should build the payment system around proper financial records—not just around receiving money.
See lessA good structure for a Nigerian small business looks like this:
1. Separate business money from personal money
This is the most important first step.
Have:
Business bank account → all customer payments enter here.
Business expense account/card → suppliers, transport, internet, utilities, etc.
Personal account → your salary/drawings go here.
Don’t collect business revenue into your personal account and don’t pay personal expenses directly from the business account.
CAC notes that registration gives a business legal recognition and enables access to corporate banking and other financial services. �
Corporate Affairs Commission +1
If you’re currently operating informally, you can register a business name through the CAC portal. �
Corporate Affairs Commission
2. Create one official payment channel
Give customers one business payment identity.
For example:
Business Name: Usha Ventures
Bank: XYZ Bank
Account Name: Usha Ventures
Account Number: XXXXXXXX
You can additionally use a reputable payment gateway/POS system for card, transfer and other electronic payments.
The important thing is that every sale must eventually appear in your business records.
3. Issue receipts/invoices
For every transaction, record:
Date
Customer
Description
Amount
Payment method
2 Sept
John
Product A
₦50,000
Transfer
2 Sept
Mary
Product B
₦30,000
POS
3 Sept
David
Service
₦100,000
Transfer
Don’t rely on your bank statement alone. Your accounting records should explain why each ₦1 entered or left the business.
FIRS’s systems also provide for electronic invoices/receipts and transaction reporting. �
FIRS ATRS +1
4. Divide every ₦100 of revenue
This is where your future investment readiness begins.
Suppose your business receives ₦1,000,000 in a month.
Don’t think:
“I made ₦1 million.”
Instead:
₦1,000,000 revenue
→ Cost of goods/services
→ Operating expenses
→ Tax provision
→ Owner’s salary/drawings
→ Emergency/business reserve
→ Retained profit
→ Reinvestment
For example, you could establish a policy such as:
50% — inventory/direct costs
15% — operating expenses
10% — tax/compliance reserve
10% — business emergency reserve
10% — reinvestment
5% — owner’s discretionary withdrawal
Those percentages are only an example. Your actual percentages should depend on your type of business.
5. Pay yourself a fixed amount
This is a major difference between a business and personal hustle.
Instead of:
“Whenever I need money, I take money from the business.”
Set something like:
Owner’s monthly salary/drawing: ₦150,000
Then transfer that amount from the business account to your personal account.
If you need additional money, record it separately as an owner’s withdrawal, rather than pretending it is a business expense.
6. Keep proper financial records
At minimum, maintain:
A. Sales register
Every sale.
B. Expense register
Every business expense.
C. Inventory record
What you bought, sold and have remaining.
D. Bank reconciliation
Compare your accounting records with your bank statement.
E. Monthly Profit & Loss
For example:
Sales: ₦2,000,000
Cost of goods: ₦1,100,000
Gross profit: ₦900,000
Operating expenses: ₦400,000
Net profit: ₦500,000
F. Cash-flow statement
This tells you where your cash actually went.
7. Create a business reserve
Don’t invest all your profits.
Build a reserve that can cover several months of essential business expenses.
For example, if essential monthly expenses are ₦400,000:
3-month reserve = ₦1.2 million
As the business grows, you can target 6 months or more.
Keep this reserve somewhere relatively liquid and separate from your everyday spending.
8. Separate business investment from personal investment
This is particularly important if you eventually want to invest in things such as Nigerian stocks, bonds, or money-market funds.
You could have:
Business
Business bank account
Business reserve
Business investments
Business assets
Personal
Personal savings
Personal emergency fund
Personal investments
Personal retirement/long-term portfolio
Don’t make it difficult to determine whether an investment belongs to you personally or to the business.
9. Build an “investor-ready” financial file
Every month, save:
Bank statements
Sales report
Expense report
Profit & loss statement
Cash-flow statement
Inventory report
Tax records
Invoices/receipts
Major supplier agreements
Customer contracts
Asset register
Payroll records, if you have employees
This becomes extremely valuable if one day you approach a bank, investor or business partner.
10. Think about taxes from the beginning
Don’t wait until the business becomes large before considering tax and compliance.
Nigeria’s tax environment has specific requirements depending on whether you’re operating as a business name, company, employer, and depending on your activities and turnover. FIRS provides systems for tax registration, remittance and electronic invoicing/receipts. �
FIRS ATRS +1
For anything involving significant tax liability, have a Nigerian accountant/tax professional review your particular structure.
What Is the Best Way to Preserve Wealth for Future Generations in Nigeria?
Estate planning in Nigeria is the process of deciding how your money, properties, investments, businesses, and other assets will be managed and distributed during your lifetime and after your death. It is not only for rich people. Anyone who owns a house, land, bank savings, shares, investments, a bRead more
Estate planning in Nigeria is the process of deciding how your money, properties, investments, businesses, and other assets will be managed and distributed during your lifetime and after your death.
See lessIt is not only for rich people. Anyone who owns a house, land, bank savings, shares, investments, a business, or other valuable assets can benefit from estate planning.
Main parts of estate planning in Nigeria
Making a Will
A legal document stating who should inherit your assets when you die.
You can name beneficiaries and appoint an executor to administer your estate.
Asset inventory
Listing your properties and investments, such as:
Houses and land
Bank accounts
Shares and bonds
Money market funds
Businesses
Vehicles
Insurance policies
Digital assets
Choosing beneficiaries
Deciding who should receive particular assets—for example, your spouse, children, parents, or other people you choose, subject to applicable Nigerian law.
Business succession planning
If you own a business, planning who will take over or how the business will be transferred when you die or become unable to manage it.
Trusts
In appropriate circumstances, assets can be placed in a trust and managed for beneficiaries according to specified terms.
Joint ownership and nominations
Certain assets may have joint ownership or beneficiary/nominated-person arrangements. These need to be structured carefully because the legal effect varies by asset and institution.
Planning for dependants
You can make arrangements for children and other dependants who may need financial support after your death.
Simple Nigerian example
Suppose you have:
A house worth ₦50 million
Land worth ₦20 million
₦10 million in investments
₦5 million in shares
A business worth ₦15 million
Your estate is potentially worth ₦100 million.
Estate planning would involve deciding who inherits these assets, how they should be transferred, who will manage them, and how to reduce disputes and unnecessary delays.
Why estate planning is important
Without proper planning, your family may face:
Disputes over property
Delays in accessing assets
Problems identifying all your investments
Business succession problems
Legal and administrative costs
Family disagreements over inheritance
In Nigeria, estate planning should be done with attention to applicable succession laws, customary/religious considerations, the location of the property, and the type of asset. A Nigerian solicitor experienced in wills and succession can help you structure it properly.
Which Fully Funded Scholarships Can Nigerians Apply for in 2026?
1. Chevening Scholarship — UK 🇬🇧 This is one of the best options for a Nigerian Master's applicant. The 2027–28 Chevening application is currently open and closes 6 October 2026 at 11:00 UTC. � Chevening +1 Usually covers: Full tuition Monthly living allowance Return flight Arrival allowance Visa-reRead more
1. Chevening Scholarship — UK 🇬🇧
See lessThis is one of the best options for a Nigerian Master’s applicant.
The 2027–28 Chevening application is currently open and closes 6 October 2026 at 11:00 UTC. �
Chevening +1
Usually covers:
Full tuition
Monthly living allowance
Return flight
Arrival allowance
Visa-related allowance
Other permitted allowances
Chevening is for one-year taught Master’s degrees. It does not fund PhDs. �
Chevening
Main requirements include:
Nigerian citizenship
An undergraduate degree that qualifies you for postgraduate study in the UK
Relevant work experience
Leadership/influence potential
Strong application essays
Application to eligible UK Master’s courses
Apply/learn about Chevening for Nigeria�
2. Commonwealth Master’s Scholarship — UK 🇬🇧
Very important for Nigerian students.
Applications for the 2027/28 academic year open 8 September 2026 and close 20 October 2026 at 16:00 BST. �
Commonwealth Scholarships UK
It is intended for talented students from eligible low- and middle-income Commonwealth countries, including Nigeria.
Level: Master’s
Typical support includes:
Tuition fees
Living allowance
Travel support
Other scholarship allowances
The programme is designed for students who otherwise could not afford to study in the UK. �
Commonwealth Scholarships UK
Typical eligibility:
Nigerian/Commonwealth citizenship
First degree
Strong academic record
Admission/appropriate course requirements
Demonstrated development impact/potential
You normally need to satisfy the scholarship’s financial/eligibility conditions.
Commonwealth Master’s Scholarship official page�
My advice: Start preparing now, because applications open in only a few days.
3. Commonwealth PhD Scholarship — UK 🇬🇧
If you are looking for a PhD, this should be one of your first targets.
Applications for 2027/28 open 8 September 2026 and close 20 October 2026. �
Commonwealth Scholarships UK
Typical requirements include:
Nigerian citizenship
Relevant Master’s degree
Strong academic background
A suitable PhD research proposal
Evidence that the research has developmental relevance
Appropriate university/supervisor arrangements
The scholarship is specifically aimed at doctoral research that can contribute to development in Commonwealth countries. �
Commonwealth Scholarships UK
Commonwealth PhD official information�
4. Gates Cambridge Scholarship — UK 🇬🇧
This is an extremely competitive scholarship at the University of Cambridge.
Level: Master’s/PhD and other eligible postgraduate programmes.
It can provide comprehensive funding, making it particularly attractive if you need tuition, living costs and other expenses covered.
The 2027 cycle is opening around September 2026, with different deadlines depending on the course. A current scholarship listing also indicates deadlines in October 2026, December 2026 and January 2027 depending on the programme. �
Scholarships for Development
Important: You must first identify an eligible Cambridge course and meet its academic admission requirements.
Gates Cambridge�
5. Mastercard Foundation Scholars Program 🌍
This is particularly interesting if you are seeking Bachelor’s or Master’s funding.
The Mastercard Foundation Scholars Program operates through partner universities, rather than allowing students to simply submit one general application to the Foundation.
It supports:
Tuition
Accommodation
Books/academic materials
Mentoring
Counselling
Leadership development
In applicable cases, return air travel. �
Mastercard Foundation +1
It supports secondary, undergraduate and Master’s levels, but currently does not offer PhD scholarships. �
Mastercard Foundation
Important for you: Look specifically for Mastercard Foundation partner universities currently accepting applications from Nigerian/African students.
Mastercard Foundation Scholars Program�
6. DAAD Scholarships — Germany 🇩🇪
DAAD has many scholarships for African students, particularly for Master’s and PhD programmes.
The exact requirements depend heavily on the particular DAAD programme.
For example, some DAAD development-related postgraduate programmes provide tuition support and scholarship funding. �
DAAD
Common requirements:
Bachelor’s degree for Master’s
Master’s degree for PhD
Strong academic record
Relevant field
Language requirements depending on programme
CV
Motivation letter
Recommendation letters
Sometimes professional experience
DAAD official scholarship database�
7. Erasmus Mundus Joint Master’s — Europe 🇪🇺
This is another excellent option for a Nigerian graduate.
You apply to a specific Erasmus Mundus Joint Master’s programme, and many programmes offer highly generous scholarships.
Depending on the programme, funding can include:
Tuition
Monthly stipend
Travel
Installation allowance
Insurance
The exact amount and eligibility depend on the individual programme.
Erasmus+ official information�
How Do Money Market Mutual Funds Work in Nigeria?
Money Market Mutual Funds (MMFs), there are two different investment systems in Nigeria: Stock market you buy shares of companies. Money Market Mutual Fund — you pool your money with other investors, and a professional fund manager invests it mainly in short-term instruments. Here is how each works.Read more
Money Market Mutual Funds (MMFs), there are two different investment systems in Nigeria:
See lessStock market you buy shares of companies.
Money Market Mutual Fund — you pool your money with other investors, and a professional fund manager invests it mainly in short-term instruments.
Here is how each works.
1. Nigerian Stock Market
The Nigerian Exchange (NGX) is where many publicly listed Nigerian companies’ shares are bought and sold.
For example, if you buy 1,000 shares of a listed company, you become a shareholder of that company. You can potentially make money in two ways:
Capital appreciation: You buy at ₦50 and later sell at ₦70 → ₦20 profit per share.
Dividends: The company may distribute part of its profits to shareholders.
But the reverse can also happen. If you buy at ₦50 and the price falls to ₦35, your investment has lost value unless the price later recovers.
Nigerian Exchange Group
How you invest:
You → Stockbroker → NGX → Company shares → CSCS records your ownership
You normally open an account with a licensed stockbroker, and your securities can be held through the Central Securities Clearing System (CSCS).
Nigerian Exchange Group
2. Money Market Mutual Fund
This works differently.
Suppose 10,000 people each put money into a Money Market Fund. The fund manager pools the money together and invests it in instruments such as:
Treasury bills
Commercial papers
Certificates of deposit
Other short-term fixed-income/money-market instruments
The fund manager earns returns from those investments, and the value/income of the fund is reflected in the investors’ units.
NGX describes mutual funds as pools of money from many investors managed professionally and invested in assets such as stocks, bonds and money-market instruments.
Nigerian Exchange Group
For example:
You invest ₦1,000,000 → Fund manager invests the pooled money → Fund earns income → Your fund value increases.
Unlike buying an individual company’s shares, you are not directly buying shares in companies when you invest in an MMF.
The major difference
Feature
Stock Market
Money Market Fund
What you buy
Company shares
Units in a fund
Main objective
Growth + dividends
Income/preservation of capital
Risk
Generally higher
Generally lower, but not risk-free
Who manages it?
You/your broker choose shares
Professional fund manager
Price movement
Can be large
Usually more stable
Diversification
You choose it
Fund manager diversifies
Liquidity
Sell through broker
Redeem units according to fund terms
Possible loss
Yes
Yes, although typically lower volatility
Is My ₦20 Million Money Market Fund Investment Protected If the Investment Platform Shuts Down in Nigeria?
No if your ₦20 million is genuinely invested in a SEC-regulated Money Market Fund (MMF), it is not correct to say that you would automatically receive only ₦5 million if the investment platform shuts down. The important distinction is between the investment platform and the actual MMF/fund assets. HRead more
No if your ₦20 million is genuinely invested in a SEC-regulated Money Market Fund (MMF), it is not correct to say that you would automatically receive only ₦5 million if the investment platform shuts down.
See lessThe important distinction is between the investment platform and the actual MMF/fund assets.
How it normally works
If you invest ₦20 million through a platform such as InvestNaija, and the money is actually invested in a properly constituted and SEC-registered MMF:
Your ₦20m represents units/interests in the fund, not a deposit with the app.
The fund’s assets should be held separately through the fund’s custodian/trustee arrangements.
SEC’s guidance specifically identifies asset segregation and independent custodial arrangements as important investor protections. �
SEC Nigeria
Therefore, if the platform/agent fails, that does not automatically mean your ₦20m disappears or that you are limited to ₦5m.
The fund assets are supposed to be separate from the platform’s own assets.
Where does the ₦5 million figure come from?
This is where people often get confused.
The ₦5 million figure is not a general “MMF insurance limit” that means every Nigerian MMF investor can only recover ₦5m.
For example, the SEC’s current investor-protection framework provides an Investors Protection Fund for certain losses involving regulated capital-market operators, but that is a different mechanism from saying that every MMF investment is insured only up to ₦5m. �
SEC Nigeria +1
Also, an MMF is not the same thing as a bank deposit, so you shouldn’t automatically apply NDIC deposit-insurance limits to an MMF.
The most important thing for your ₦20m
I would verify exactly which MMF you are invested in and who the fund manager and custodian are.
SEC says investors should verify that operators are registered before investing. �
SEC Nigeria
So, for example, if your InvestNaija account says:
₦20,000,000 — Money Market Fund
I would want to establish:
1. Name of the actual MMF
2. Fund Manager
3. Trustee
4. Custodian
5. SEC registration status
6. Whether your ₦20m is actually recorded as units in that fund
If those are all properly established, the failure of the app/platform itself should not mean you are automatically capped at ₦5m.
Why Is TotalEnergies Marketing Nigeria Plc Shares Difficult to Sell on the NGX?
The main reason it can be difficult to sell is low liquidity—there may not be enough buyers at the price you want. For example, NGX data shows that TOTAL traded only 1,345 shares on August 27, 2026, 6,074 on August 26, and 5,115 on August 24. That is quite small compared with the company's 339.5 milRead more
The main reason it can be difficult to sell is low liquidity—there may not be enough buyers at the price you want.
See lessFor example, NGX data shows that TOTAL traded only 1,345 shares on August 27, 2026, 6,074 on August 26, and 5,115 on August 24. That is quite small compared with the company’s 339.5 million shares outstanding.
Nigerian Exchange Group +1
Why this happens
Few buyers at a particular price
If you place an order to sell at ₦640, for example, you need someone willing to buy at ₦640. If there are few buyers, your order may remain pending.
TOTAL is not one of the most actively traded NGX stocks
The recent trading figures show periods of very low daily activity. This makes it harder to sell a large quantity immediately without affecting the price. �
Nigerian Exchange Group
The price can remain unchanged for several days
NGX currently shows TOTAL at ₦576, after recently trading at ₦640.
Nigerian Exchange Group
Your broker may have an order waiting for a buyer
Selling shares on the NGX isn’t like withdrawing money from a bank account. Your broker sends a sell order to the market, and it is executed when a matching buyer is available.