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What Is Premium Board on NGX and Why Is Dangote Refinery IPO a Big Opportunity in Nigeria?
Oya… relax. Let me break this down in a simple way, so even Mama Ngozi that sells tomatoes in the village will understand. FIRST - WHAT IS IPO? IPO means Initial Public Offer. Simple meaning? A company is saying: “We want the public to own part of this business.” So when Dangote Refinery goes publicRead more
Oya… relax.
Let me break this down in a simple way, so even Mama Ngozi that sells tomatoes in the village will understand.
FIRST – WHAT IS IPO?
IPO means Initial Public Offer.
Simple meaning?
A company is saying:
“We want the public to own part of this business.”
So when Dangote Refinery goes public…
It means:
You
Me
Even Mama Ngozi
…can buy shares and become part-owners.
NOW… WHY IS EVERYBODY TALKING ABOUT THIS ONE?
Because Dangote Refinery is not small.
We are talking about a business with a projected value of: $40 Billion – $50 Billion
And they may list about: 5% – 10% of the company
That is roughly: $5 Billion (₦6 Trillion+) entering NGX
Let me say it again…
This is not just a normal listing.
This is a capital market event.
NOW… WHAT IS “PREMIUM BOARD”?
This is where many people are confused.
Let me explain with a simple example.
Think of NGX like a market.
Inside that market, there are different sections:
Growth Board = Small growing companies
Main Board = Established companies
Premium Board = Elite companies
Let me explain this better with a Simple Story..
Imagine a big market like Abakaliki International Market.
Inside that market:
Some people sell on the floor
Some have small shops
Some have big stores
But there is one special section:
Clean
Organized
Only trusted sellers
Only people with serious money
That section is Premium Board
But, let me tell you the truth..
Not every company can enter Premium Board.
The requirements are strict.
And…
A company must have:
Minimum value of about ₦200 Billion+
With Strong corporate governance (at least 70% rating)
And At least 20% free float
WHAT IS FREE FLOAT?
Oya… calm down.
Let me explain it simply.
Free float means the shares available for people like you to buy and sell.
If free float is:
LOW = You may buy but struggle to sell
HIGH = Easy to buy and easy to sell
That is called liquidity.
And serious investors care about that.
WHY PREMIUM BOARD IS IMPORTANT
Let me tell you something deep.
Foreign investors don’t just invest anywhere.
They look for:
Structure
Transparency
Strong management
And guess where they go?
Premium Board
NOW LET’S TALK ABOUT DANGOTE REFINERY
If Dangote Refinery lists on Premium Board…
It means:
Strong investor confidence
Massive money entering the market
Increased global attention on Nigeria
More opportunities for investors
BUT… READ THIS CAREFULLY
I am NOT saying:
“Go and buy because it is Dangote”
No.
I am saying:
Understand what you are doing first
Because:
“Big name does not replace knowledge.
Most people:
Hear news
Follow hype
Enter blindly
But only few people:
Understand structure
Understand system
Understand value
And those are the ones that win.
That is exactly why I built Fokona.com
To make:
Money
Investment
Financial decisions
…simple enough for anybody to understand.
So…
If you want to understand money and investing better:
Ask your questions here on Fokona
Learn from real answers
Stop guessing with your money
My name is Iking Ferry
See lessInvestment Strategist & Financial Literacy Advocate
On a mission to build 10 million financially free Africans through the right knowledge
What Does “Consideration (Markup Inclusive)” Mean When Buying Shares in Nigeria (NGX)?
As a Financial Literacy Advocate, let me explain this in a way that even Mama Ngozi that sells tomatoes in the village will understand. First of all… relax. You are not being cheated. You are not overcharged. You are just seeing something you don’t yet understand. And today, I will break it down forRead more
As a Financial Literacy Advocate, let me explain this in a way that even Mama Ngozi that sells tomatoes in the village will understand.
First of all… relax.
You are not being cheated.
You are not overcharged.
You are just seeing something you don’t yet understand.
And today, I will break it down for you.
FIRST THING YOU MUST UNDERSTAND
When you are buying shares in Nigeria…
You are not buying directly from the market.
You are buying through a stockbroker.
That broker is the one that helps you go into the market and execute the transaction on your behalf
NOW LET ME ADDRESS YOUR CONFUSION
You saw two things:
₦2,011.22 = Charges
₦9,593.00 = Consideration (Markup Inclusive)
Now listen carefully:
The ₦2,011.22 is real charges
While….
The ₦9,593.00 is NOT a charge
Yes… read that again.
WHAT IS THAT ₦2,011.22?
Let me Explain…
Those are normal fees like:
Brokerage commission
SEC fee
NGX fee
Stamp duty
CSCS alert charges
These ones are standard. Everybody pays them.
NOW HERE’S THE MAIN PART (WHAT MOST PEOPLE DON’T UNDERSTAND)
What is “Consideration (Markup Inclusive)”?
It is NOT a fee.
It is a buffer amount added by your broker.
LET ME EXPLAIN WITH BETTER WITH A SIMPLE STORY
Imagine:
Mama Ngozi wants to buy tomatoes worth ₦100,000 from a big market.
But she cannot go herself…
So she gives the money to a tomato agent (broker).
Now the agent tells her:
“Mama Ngozi, give me ₦110,000.”
She gets confused:
“Why ₦110k when tomato is ₦100k?”
THE AGENT EXPLAINS:
“By the time I reach the market… price might have increased.”
Because in that market:
Prices can go up quickly
Prices can also drop
SO WHAT DOES HE DO?
He adds extra ₦10,000 (10%)
So that:
If price increases = he can still buy
The transaction will not fail
WHAT HAPPENS AFTER?
If price becomes ₦110k = he buys
If it stays ₦100k = he buys and returns ₦10k
If it drops to ₦90k = he buys and returns ₦20k
THAT IS EXACTLY WHAT YOU ARE SEEING
That ₦9,593 is:
Not a charge
Not a fee
Not money lost
It is simply:
A temporary buffer
To protect your transaction from failing
BUT..IKING…
WHY DOES THIS HAPPEN IN THE STOCK MARKET?
Because share prices move every second.
For example:
The share you want to buy at ₦810…
Before your broker executes it:
It might move to ₦820
Or even higher
And on the NGX:
Prices can move up to 10% in a single day
SO YOUR BROKER IS DOING THIS TO:
Make sure your order goes through
Avoid coming back to you for extra money
Execute faster without delay
LET ME TELL YOU THE TRUTH:
You are NOT paying that ₦9,593
You are NOT losing that money
Any unused part is refunded back to you
Most people enter investing…
But they don’t understand what they are doing.
And that is dangerous.
Because:
“Confusion will make you think you are losing money… even when you are not.”
Before you assume anything in finance…
See lessAlways understand it first.
Because:
“In money, misunderstanding is more expensive than ignorance.”
Why Do Bank Money Market Mutual Funds Pay Lower Interest (14%–15%) Than Investment Apps Offering 18%–20% in Nigeria?
The Reason Why is your bank Money Market Mutual Fund giving you 14%… But another Investment app Money Market Mutual Fund is giving you 19% – 20% is very Simple. Sit down. Let me explain this in a way that even Mama Ngozi that sells tomatoes in the Village will understand. Imagine: There are two womeRead more
The Reason Why is your bank Money Market Mutual Fund giving you 14%…
But another Investment app Money Market Mutual Fund is giving you 19% – 20% is very Simple.
Sit down.
Let me explain this in a way that even Mama Ngozi that sells tomatoes in the Village will understand.
Imagine:
There are two women in the same market:
Mama Ngozi and Mama Ade.
Both of them sell tomatoes.
But there is a difference.
Let’s say Mama Ngozi is (Investment Apps)
So…
Mama Ngozi sells ONLY tomatoes.
Morning till night…
Tomato.
She travels herself to Abakaliki International Market.
She knows when prices drop.
She knows the best suppliers.
She buys in bulk at the BEST time.
Because of this…
Her tomatoes are fresher
Her prices are better
Her profit is higher
So when you come to her shop…
She can afford to give you the best deal.
Now… Let’s call Mama Ade (Bank Apps)
Mama Ade sells:
Tomatoes
Rice
Beans
Garri
Oil
Everything.
She is not focused on tomato alone.
She buys tomato from middlemen.
She doesn’t track the market deeply.
Tomato is just ONE of many things she sells.
So what happens?
Her tomato price is okay… but not the best
Her profit is stable… but not optimized
But…
LISTEN CAREFULLY (THIS IS THE SECRET)
Money Market Funds work the SAME way.
BANK APPS (14% – 15%)
Banks are like Mama Ade.
Their main business = Banking
Investment = Just an extra service (mostly Subsidiaries or Partnership Business)
They are:
– More conservative
– Less aggressive
– Focused on stability, not maximizing returns
So their returns are LOWER.
While…
INVESTMENT APPS (18% – 20%)
Investment firms are like Mama Ngozi.
Because…
Their main business = INVESTMENT
They:
– Study treasury bills daily
– Monitor interest rates
– Time the market better
– Rebalance portfolios faster
So they squeeze out HIGHER returns.
BUT HERE IS WHAT MOST PEOPLE DON’T KNOW
And This is where wisdom comes in…
The returns are NOT FIXED
YES..
Including the one in your Bank App
Why?
Because they invest in:
– Treasury Bills
– Commercial Papers
– Bank Placements
And these things rate CHANGE every new Offer.
Let me break it down:
Fund Manager A can buys treasury bills in January – Rate = 20%
While
Fund Manager B buys in February – Rate = 17%
You see?
Same market.
Different timing.
Different results.
Now…
As a Financial Literacy Advocate..
Let me tell you the truth…
WHAT REALLY DETERMINES YOUR RETURN
Is Not the app.
But:
The EXPERIENCE of the fund manager
The TIMING of their investments
Their STRATEGY
And How often they rebalance
LET ME SHOCK YOU
Even banks themselves…
Hire these same investment firms for advice.
Yes.
The same firms giving you 18%…
Are the ones advising institutions.
LET ME TELL YOU THE BIGGEST MISTAKE NIGERIANS MAKE…
They think:
“Higher % = More risk”
“Lower % = More safety”
NO.
As long as:
It is SEC licensed
It is a money market fund
The risk level is almost the SAME.
BUT..
Don’t just look at:
The percentage
Look at:
Who is managing the money
Their track record
Their focus
Because…
In money:
The difference is not the product
The difference is the PERSON managing it
JUST REMEMBER THAT:
Mama Ngozi makes more money not because tomatoes are different…
But because:
She understands the market better.
Same thing here.
My name is Iking Ferry
See lessA Financial Literacy Advocate on a mission to help you understand money in a way school never taught you.
Read again.
Because what you just learned on Fokona.com
Many people will never understand it.
And that is why…
They will always earn less.
Why Am I Not Receiving Interest on My FGN Bond Investment in Nigeria?
The Reason Why You Are Not Seeing Your FGN Savings Bond Interest in Nigeria is very Simple. And as your Financial Literacy Advocate, let me explain this in a simple way… In a way that even Mama Ngozi that sells tomatoes in the village will understand. Because this confusion is very common. Based onRead more
The Reason Why You Are Not Seeing Your FGN Savings Bond Interest in Nigeria is very Simple.
And as your Financial Literacy Advocate, let me explain this in a simple way…
In a way that even Mama Ngozi that sells tomatoes in the village will understand.
Because this confusion is very common.
Based on your questions:
“I invested ₦10,000 in FGN Savings Bond since October…
but I have not received any interest till now.”
First of all…
Let me be very honest with you.
If you truly invested in FGN Savings Bond… you have most likely received your interest already.
Yes… you heard me right.
The problem is not that you didn’t get paid…
The problem is that you didn’t recognize the payment.
Oya.. relax
Let Me Break It Down in a Simple way possible.
When you invest in FGN Savings Bond using platforms like InvestNaija or Afrinvest…
The platform is NOT the one paying you.
YES.
The real people paying you is:
Debt Management Office (DMO) Nigeria
So…
Where Does Your Interest Enter?
Your interest is sent directly to:
The bank account you used during registration
Not inside the app.
Not inside your dashboard.
Your normal bank account, you input when you are creating your CSCS Account on the Stock Brokers APP.
Let me tell you How FGN Savings Bond Pays You
FGN Savings Bond pays:
Every 3 months (quarterly)
That means:
October = Next payment around January
January = Next payment around April
April = Next payment around July
Now listen carefully… this is where many people miss it.
Let’s assume:
You invested: ₦10,000 as you said.
And let’s assume your Interest rate is 14% per year
That is:
₦1,400 per year
But…
You are NOT paid ₦1,400 at once.
Remember:
It is divided into 4 payments.
So you receive roughly:
₦350 every 3 months
Now be honest…
If ₦315 enters your account…
Won’t you ignore it?
Or think it is “bank interest”?
That is exactly what is happening.
Let me tell you What You Should Do Right Now.
Do this immediately:
1. Open your banking app
2. Download your bank statement
3. Check between January – March
You will likely see something like:
“FGN BOND COUPON”
Or small credit alert you ignored
Many people later realize:
“Ah! I actually received it…”
Some even spent it without knowing, yes it has happened to me some years ago.
This is why I always say:
The first rule of investment is understanding what you are doing.
Not just putting money blindly.
Let me Ask:
Is ₦10,000 in FGN Bond a Good Idea?
here’s my honest Answer.
For learning – YES
For serious wealth building – NO
Why?
Because:
It is long-term (2–3 years)
And the Returns are small on low capital
Here’s a Better Strategy for Beginners
If you are just starting with:
₦5,000
₦10,000
₦20,000
Start with Money Market Mutual Funds
Why?
Because….You can start small (even ₦1,000)
You can add money anytime
You can withdraw anytime
Interest grows daily
No long lock period
And the Good thing is that most Money Market Mutual Fund pays around 15% – 22% yearly (varies)
But…
Remember:
10% withholding tax applies on interest (not your capital)
So…
Here is the real game:
1. Start with money market fund
2. Grow your money gradually
3. Build to ₦100k to ₦500k or ₦1M
Then…
Move to FGN Bonds for long-term stability
Because…
The problem is not investment…
The problem is lack of understanding.
Don’t panic.
Don’t assume.
Don’t guess.
Understand first… then invest.
If you want to learn money, investing, tax, and wealth creation in simple English…
Ask your questions on Fokona
Learn from real experts
Grow your financial knowledge step by step
Because at the end of the day…
Financial freedom is not about big grammar…
It is about knowing what to do at the right time.
I am Iking Ferry
See lessFinancial Literacy Advocate
Building 10 Million Financially Free Nigerians
I Started Investing at 50 – Is It Too Late to Build Wealth and What Should I Do With My Small Income?
Let me be honest... THE MAN WHO STARTED AT 55 MIGHT END UP RICHER THAN THE ONE WHO STARTED AT 25… Yes… you read that right. And if you don’t understand what I’m about to say… you might spend the next 20 years getting it wrong. A man commented under my post… 55 years old. Quit alcohol one year ago. LRead more
Let me be honest…
THE MAN WHO STARTED AT 55 MIGHT END UP RICHER THAN THE ONE WHO STARTED AT 25…
Yes… you read that right.
And if you don’t understand what I’m about to say…
you might spend the next 20 years getting it wrong.
A man commented under my post…
55 years old.
Quit alcohol one year ago.
Life improved.
Clarity improved.
But then he said something that touched me deeply…
Let me explain this better with a Simple story…
There are two men.
The first man started investing at 25…
But he never had control.
He drank.
He spent recklessly.
He chased quick money.
He followed noise.
The second man started at 55…
But this one…
Had discipline.
Had clarity.
Had control.
Now answer this honestly…
Who do you think will build wealth faster?
Let me shock you…
The second man.
Why?
Because in money…
Clarity beats age.
Discipline beats time.
And Control beats speed.
Sir… if you are reading this…
Let me say this to you directly…
You did not start late.
You started RIGHT.
Because the hardest part of wealth is not money…
It is CONTROL.
And the fact that you said:
“I quit alcohol”
Do you know what that means?
It means:
You have defeated one of the strongest enemies of wealth.
YES.
Most people don’t understand this…
So let me break it down in a way that even Mama Ngozi that sells Tomatoes in the village will understand…
If a basket has a hole…
No matter how much water you pour inside…
It will never be full.
Alcohol… smoking… bad habits…
Those are holes.
So what you did was not just quitting alcohol…
You closed a financial leak.
Now let me say something that will open your eyes…
If most people sit down today…
And calculate how much they have spent on:
Alcohol
Smoking
Unnecessary enjoyment
for the past 10–15 years…
That money is enough to build generational wealth.
But they will never calculate it…
Because truth is painful.
Now sir… let me guide you like I would guide someone paying for my consultation…
At your stage…
Don’t chase high returns.
Listen carefully…
Because this is where many people lose everything.
The fastest way to lose money is chasing fast money.
Right now…
Your focus should be ONE thing:
Capital preservation.
YES.
Protect what you have first.
Grow slowly after.
And, If I were you…
This is exactly what I would do…
I would take most of my money…
And put it where it is SAFE.
Investment like Money Market Mutual Fund is the best Options in this Case.
Not because it is the highest return…
But because it is stable and your capital is safe.
Let me explain:
If you plant cassava…
It may not grow as fast as maize…
But one thing is sure…
It will NOT fail you.
That is what safe investments do.
Now here is where the real secret is…
Not just investing…
But COMPOUNDING.
Let me explain this in a way that even Grandma in the Village will nod her head and say: “yes I understand this one”
If you invest ₦1,000,000…
And earn 18%…
You get ₦180,000.
Most people will withdraw it and spend it.
But the wise man…
Adds it back.
Next year…
You are no longer earning interest on ₦1M…
You are earning on ₦1.18M.
That is how money grows quietly.
No noise.
No pressure.
No stress.
Now here’s another thing you must not ignore…
Health insurance.
Yes.
Because one hospital bill…
Can destroy 10 years of savings.
So… What Exactly should you do?
Start small…
Yes.. Even ₦15k, ₦30k, ₦50k plans exist.
Don’t wait until emergency teaches you wisdom.
Now let me also tell you one of the most powerful thing you can do…
Teach your children what you just discovered.
Because…
You may have started at 55…
But they can start at 15.
Teach them:
The Difference between NEED and WANT
And Difference between ASSET and LIABILITY
Tell them:
Asset puts money in your pocket
Liability removes money from your pocket
So they don’t repeat your past.
Now let me close this Conversation with something that will stay with you forever…
Most people don’t fail because they started late…
They fail because they never started RIGHT.
But You…
Have already done the hardest part.
You stopped what was destroying you.
You gained clarity.
You took control.
That is not late…
That is POWER.
So remove that guilt from your mind.
You are not behind.
You are AHEAD… of those who are still wasting their life.
See lessTax Deadline in Anambra State – How Can I File My Personal Income Tax Easily Without Mistakes?
If you have been Searching for How to File Your Personal Income Tax in Anambra State (here's a Simple Step-by-Step Guide Anyone Can Follow) And, as your Financial Literacy Advocate.. Let me explain this with a Simple Story in a way you will never forget. Imagine Mama Ngozi travels from her village tRead more
If you have been Searching for How to File Your Personal Income Tax in Anambra State (here’s a Simple Step-by-Step Guide Anyone Can Follow)
And, as your Financial Literacy Advocate.. Let me explain this with a Simple Story in a way you will never forget.
Imagine Mama Ngozi travels from her village to Onitsha.
As she enters the market, she hears people shouting:
She gets confused…
If you feel like Mama Ngozi right now… relax.
Let me break it down for you step by step.
First Thing You Must Understand
You are not paying tax for 2026.
You are declaring the money you made from January to December 2025
That is how tax works.
You pay after the year has ended, not while the year is still running.
Secondly, ASIN means Anambra State Identification Number.
Here’s how to file your Personal Income Tax in Anambra
STEP 1: Go to Anambra State Tax Website
Open Google and type:
Anambra State IRS
Then open the official website: tax.services.an.gov.ng
STEP 2: Create Your ASIN Number
This is very important.
ASIN is like your tax identity in Anambra State
When you enter the website:
Click on Create ASIN
Choose:
Individual (for personal income tax)
Enterprise (for small business)
Corporate (for companies)
If you are working or doing business personally, choose Individual
STEP 3: Enter Your NIN
When you click Individual:
Enter your NIN
Your details will appear automatically:
Name
Phone number
Address
Picture
Just complete the remaining form and create a password
STEP 4: Login to Your Account
Go back to:
tax.services.an.gov.ng
Click Login
You can login using:
Your ASIN number OR
Your Email
Enter your password and login.
STEP 5: Click “File Annual Return”
After logging in:
Click File Annual Return
VERY IMPORTANT (because this is Where Many People Make Mistake)
If you earn monthly: ₦80,000 per month
Do NOT type ₦80,000
Multiply it:
₦80,000 × 12 = ₦960,000 or multiply it by the number of months that you worked or total money earned.
That is your annual income
STEP 6: Fill Other Details
You will see:
Your income
Rent
Other earnings
Fill what applies to you
The system may also ask for:
Landlord name
Landlord ASIN
Phone number
If you don’t have it:
Just type NIL
And move on.
STEP 7: Select Your Profession
You will see options like:
Trader
Teacher
Developer
Choose your work
STEP 8: Tax Relief (Optional)
You may see:
Pension
Insurance
Mortgage
If you don’t have any:
Skip it
STEP 9: Submit and Download
After everything:
Click Submit
Then:
Download your Acknowledgement Slip
Keep it safe, this is your proof
Now, as your Financial Literacy Advocate, let me tell you a Secret That Many People Don’t Know
and here’s the truth…
This whole process can take you less than 10 to 20 minutes minutes
Yes… less than 10 minutes.
The problem is not difficulty…
The problem is lack of understanding. And lack of Orientation and awareness from the Government.
But here’s the one deep truth you must know
Tax is not your enemy.
Ignorance is the real problem.
Because:
If your income is small, you may pay little or nothing
But if you don’t file, penalty will follow.
If you still don’t understand anything…
Ask your question here on Fokona
That is why we built this platform:
To make money, tax, and life simple even for Mama Ngozi that sells Tomatoes in the Village.
See lessTax Deadline Is March 31 – How Can I File My Personal Income Tax in Lagos Nigeria Easily?
Before we start… Lagos State Government has extended the tax filing deadline to April 14, 2026. So if you were rushing before, relax… But don’t delay again ooh, use this extra time wisely. Let Me Explain.. Imagine Mama Ngozi sells tomatoes in Lagos. One day she hears: “Tax deadline is here ooh!, It'Read more
Before we start…
Lagos State Government has extended the tax filing deadline to April 14, 2026.
So if you were rushing before, relax…
But don’t delay again ooh, use this extra time wisely.
Let Me Explain..
Imagine Mama Ngozi sells tomatoes in Lagos.
One day she hears:
She panics:
If you feel like Mama Ngozi, relax.
As your Financial Literacy Advocate, I will break it down step by step.
First… What Exactly are You Are Filing?
You are NOT filing 2026 tax.
You are declaring the money you earned from:
January – December 2025
That is what Lagos State wants.
Here’s a Step by Step Process to File your Personal Income Tax Annual Returned in Lagos
STEP 1: Get Your TIN (Tax Identification Number)
Go to Google and search:
Tax Identification Number in Nigeria
Open the Nigeria Revenue Service official portal: taxid.nrs.gov.ng
Enter your NIN
Enter your Date of Birth
Generate your TIN
This is your tax identity. Keep it safe.
STEP 2: Create Your Lagos Tax Account (LIRS)
Go to: etax.lirs.net
Create an account using:
Your BVN (recommended)
Your personal details
Then generate your:
Lagos Payer ID
Note:
Individuals = starts with N-
Companies = starts with C-
STEP 3: Login to Your Dashboard
Use:
Your newly created Payer ID
Your Password
STEP 4: File Your Annual Return
Click:
“File Annual Return”
VERY IMPORTANT (This is Where Many People Make Mistake)
If you earn:
₦100,000 per month
Do NOT enter ₦100,000.
Multiply it:
₦100,000 × 12 = ₦1,200,000
That is your annual income.
This applies to Salary Earners and Business Owners, including Freelancers or Content Creators… You are to pay from your Net Income.
STEP 5: Add Other Income (If Any)
You may see:
Rent
Business income
Dividends
If you have them, include them
If not, skip
STEP 6: Add Tax Relief (Very Important)
You may see:
Pension
Insurance
Mortgage
Add them if you have them
This will reduce your tax
STEP 7: Submit
After filling everything:
Click Submit
The system will calculate your tax automatically.
Here’s the Secret Many People Don’t Know
If your income is small…
You may pay:
Zero tax
But… if you don’t file at all…
You will pay penalty of ₦100,000 and a subsequent ₦50,000 for each of the following Month until you file your Annual Returned.
Now that deadline has been extended to: April 14, 2026
Don’t say:
Do it now.
IN SIMPLE SUMMARY:
Get your TIN
Create your LIRS account
Calculate your annual income
Submit your return
That’s all.
The problem is not tax…
The problem is lack of understanding
Once you understand it…
Everything becomes simple.
If you still have questions…
Ask here on Fokona
That is why this platform exists..
To make money, tax, and investing simple for everyone.
See lessIf I Invest ₦10 Million in FGN Bonds, Can I Use It to Get a Loan from the Bank Quickly?
You can have ₦10 Million… walk into the bank with confidence… and still be rejected for a loan. Yes… this is where many people get shocked. Because nobody taught them how money really works. As your Financial Literacy Advocate.. Let me explain this better with a simple story… Imagine: Mama Ngozi thaRead more
You can have ₦10 Million… walk into the bank with confidence… and still be rejected for a loan.
Yes… this is where many people get shocked.
Because nobody taught them how money really works.
As your Financial Literacy Advocate.. Let me explain this better with a simple story…
Imagine:
Mama Ngozi that sells Tomatoes in the village… finally saved money for years.
One day, someone told her:
So she gathered courage… dressed well… and walked into the bank.
She said:
She believed that was enough.
But after everything…
The bank still told her… “We will get back to you.”
And that “we will get back to you” never came.
Now listen carefully…
The problem was not her money or Bond.
The problem was what she didn’t understand.
And… This is the same mistake many people are making today.
They believe:
No.
That is not how money works.
Oya… Sit down…
Let me open your eyes to something most people will never tell you…
Banks don’t give loans because you have something valuable.
Banks give loans because they are sure they will get their money back.
That is why in finance… we have something called:
The 5 Cs of Credit
But let me break it down in a way that even Grandma in the Village will nod her head and say “yes Iking… understand this one deeply”
Now.. listen:
Before the bank looks at your money…
They look at YOU.
Yes… YOU.
Who are you?
Have you borrowed before?
Did you pay back?
That is your CHARACTER.
How do you make money?
Do you have steady income?
Does your business bring cash every day?
That is your CAPACITY.
Do you have your own money inside what you are doing?
Or you want to risk only the bank’s money?
That is your CAPITAL.
Now we come to what most of you focus on…
COLLATERAL
Yes… your FGN Bond can work here.
And let me tell you something powerful…
FGN Bond is even stronger than many lands people are carrying around.
Yes…
Because land can have:
Family disputes
Government issues
Fake documents
But bond?
Very Clean… verifiable… and structured.
But here is the truth that will shock you…
Collateral does NOT guarantee loan.
Lastly…
What are you using the loan for?
Does it make sense… or you are just chasing opportunity blindly?
That is your CONDITION.
These are what we called the 5 Cs of Credit in Finance
Now let me bring it back to you…
You asked:
“If I invest ₦10M in FGN Bond… can I get loan within a week?”
Let me answer you honestly…
It is not your bond that determines speed.
It is your structure.
Because…
Two people can walk into the same bank with ₦10M…
One will get loan in days…
And…
The other will be ignored.
Why?
Because one understands money…
The other only has money.
Let me say something that many people are not ready to hear…
Having money is different from understanding money.
That is why some people have millions…
But still struggle for opportunities.
While some people with less…
Access bigger opportunities faster.
Now hear this carefully…
When I said you can use bond as collateral…
I was not telling you to go and borrow.
No.
I was showing you a door most people don’t even know exists.
Because some people are stuck not because they are poor…
But because they don’t understand structure.
Let me leave you with this…
And read it twice…
Money does not reward who has it…
Money rewards who understands it.
So the real question is not:
“Can I get loan with ₦10M bond?”
The real question is:
My name is Iking Ferry…
And I’m not just here to talk about money…
I’m here to make sure you never look at money the same way again.
See lessIs Insurance Really a Scam in Nigeria or Why Do Many People Struggle to Get Their Claims Paid?
If you still believe insurance does not work in Nigeria… then you are not broke, you are just uninformed. Let me explain: After I shared my last post, I saw many comments saying “Insurance companies in Nigeria are scammers” “It doesn’t work here like abroad” And I just smiled… Because most people doRead more
If you still believe insurance does not work in Nigeria… then you are not broke, you are just uninformed.
Let me explain:
After I shared my last post, I saw many comments saying
And I just smiled…
Because most people don’t have an insurance problem…
They have a knowledge problem.
Let me tell you something that might shock you…
Insurance works in Nigeria.
Not 50%… not 70%… 100%.
But here is the part many people don’t want to hear…
Insurance will only work for you to the level of your understanding.
You see, before you even think of buying insurance, you need more knowledge than someone entering the stock market.
Yes… I said it.
Because in insurance, it’s not just about paying premium…
It’s about understanding:
What exactly you are buying
What is covered and what is not covered
The conditions that must be met before you get paid
And the process to follow when things go wrong
Most people skip this part…
Then when problem happens… they shout “scam”
As your Financial Literacy Advocate, Let me break something down for you…
The same way accounting principles are the same all over the world…
That is the same way insurance works.
The same foundation used in the US, UK, South Africa…
Is the same thing used in Nigeria.
Because… Money does not have two languages.
And.. Risk does not have two definitions.
Insurance is built on one principle globally…
Risk management.
So the problem is not Nigeria…
The problem is ignorance.
Now let me tell you the secret that nobody will tell you…
Every insurance company in the world is designed to do one thing…
Reduce how much they pay out.
Yes… read that again.
They are businesses… not charity organizations.
You pay premium… they manage risk…
And when something happens, they check:
Did you follow the policy?
Does this claim meet the conditions?
Is there any breach?
If you don’t understand your policy…
You have already lost before you even start.
Now here is where many people are completely blind…
Between you and the insurance company… there is a system.
There are professionals called Loss Adjusters.
These are not your enemies…
And they are not the insurance company’s friends.
They are independent professionals regulated in Nigeria by NAICOM.
Their job is simple…
To investigate what happened
To assess the damage
To ensure the insurance company does not cheat you
And also ensure you are not cheating the system
They stand in the middle…
Yet most Nigerians don’t even know they exist.
Let me ask you a simple question…
For those shouting “insurance is scam”…
How many of you have ever:
Read your policy document properly?
Engaged a loss adjuster when your claim was denied?
Reported the insurance company to NAICOM?
Be honest with yourself…
Most of you did nothing.
You just complained…
Now let me open your eyes to something deeper…
Insurance is not for enjoyment…
It is for survival.
It is not for when life is good…
It is for when life breaks.
That moment when your shop burns
That moment when accident happens
That moment when sickness drains everything
That is when you will understand the power of structure.
And here is the painful truth…
Even Mama Ngozi that sells tomatoes in the village can afford insurance.
Yes…
Some policies are as low as ₦2,000 monthly.
So the issue is not affordability…
The issue is awareness.
Let me say this clearly…
Anything you don’t understand will always look like a scam to you.
The same thing happened when people said stock market is scam.
Today… those who understood it are building wealth quietly.
That’s why I have maintained that Financial literacy is not about arguing online…
It is about understanding how money, risk, and protection works.
That is why platforms like Fokona exist…
To break down complex financial concepts
Into simple language anybody can understand
Even Mama Ngozi.
In my next posts…
I will show you:
How to choose the right insurance company
How to pick the right policy
And how to get your money… even when they refuse to pay
Yes… including how they can be forced to pay more.
Because knowledge changes everything.
For now… just remember this…
Insurance is not a scam.
Ignorance is.
See lessHow Can I Invest Over ₦50 Million in Federal Government Bonds in Nigeria?
If you have ₦50 Million and you put everything inside FGN Bonds… there is a high chance you will regret it later… not because it is a bad investment… but because you didn’t understand it. Let me explain this in a way that will open your eyes… Imagine Mama Ngozi that sells tomatoes in the village… onRead more
If you have ₦50 Million and you put everything inside FGN Bonds… there is a high chance you will regret it later… not because it is a bad investment… but because you didn’t understand it.
Let me explain this in a way that will open your eyes…
Imagine Mama Ngozi that sells tomatoes in the village… one day she makes big money, say ₦50 million… and instead of keeping the money in her shop or turning it over in her business, she decides to give everything to one very trusted person in the village…
She tells the person… “Take this money… use it to do something big… just be paying me small money every three months.”
Now tell me… did Mama Ngozi invest her money… yes
Is her money safe… yes
But did she make the best decision… that is where the real question is…
That is exactly how FGN Bond works…
You are not giving money to a person… you are giving money to Nigeria itself… the entire country owes you… not any president, not any government official… the country…
That is why it is very safe… one of the safest in Nigeria…
But listen carefully…
Safety does not mean it is right for you…
That is where most people get it wrong…
Because once people hear “safe”… they carry all their money and lock it there…
Now imagine Mama Ngozi again…
After giving out her ₦50 million… something happens in her life… maybe her business needs urgent money… maybe an opportunity comes… maybe a problem comes…
Then she remembers… “Ah… my money is with that person…”
But she cannot collect it immediately…
That is the problem with FGN Bond…
Your money is working… but your money is also tied down…
FGN Bond is not like money you can just wake up and withdraw… it is not your savings account… it is not your normal investment you can easily turn to cash…
You can sell it in the market, yes… but it is not as simple as pressing withdraw…
Now this is where wisdom comes in…
If that ₦50 million is just part of your money… maybe you have other income… you have business… you have cash flow… then you are fine…
But if that ₦50 million is everything you have… or even half of everything you have… then you have just locked your life into one position…
Because FGN Bond is long-term…
Two years… three years… five years… even ten years and above…
This is not money you play with…
Now let me open your eyes to something many people don’t know…
FGN Savings Bond that many of you rush into every month has a limit… you cannot just dump unlimited money there at once… it is capped per subscription… and it comes out every month…
So if you truly want to invest big money… real investors don’t rush… they structure it over time…
Then there is the main FGN Bond itself… the bigger one… longer duration… usually accessed through brokers and banks… that is where serious money flows…
Now here is another thing that will shock you…
While your money is there… it is not sleeping…
Every three months… the government pays you interest directly… steady… predictable…
And the most interesting part…
That money you are receiving… is tax-free…
No deductions… nothing…
But let me show you the real secret… the one many people don’t understand…
That bond you bought…
You can carry it to a bank… and use it as collateral…
Yes…
You can collect a loan with it… and use that loan to run business…
That is how smart people use bonds…
They don’t just lock money…
They leverage it…
Now let me talk to you like someone that wants you to grow…
If you truly have ₦50 million…
Don’t let anybody deceive you…
Don’t put everything in FGN Bond…
That is not wisdom… that is fear disguised as investment…
Real investors don’t think like that…
They structure their money…
Some part for safety… should be on FGN BOND.
some part for liquidity… Should be on Money Market Mutual Fund.
some part for growth… Should be on Business or Stock Market.
And some part for opportunity… Because life will always present opportunities… And only liquid people take advantage of opportunities…
Most people are not poor because they don’t have money…
They are poor because their money is locked in the wrong place at the wrong time…
So yes… FGN Bond is powerful…
Yes… it is safe…
Yes… it pays you…
But if you don’t understand how to use it…
It will limit you instead of helping you…
Think about this…
Before you invest… don’t just ask “is it safe?”
Ask yourself…
“Does this give me flexibility… or does it trap me?”
That one question alone…
Will change how you invest forever.
Here’s How to Buy FGN SAVINGS BOND
Download any SEC licensed Stock Brokerage App like Investnaija by Chapel Hill Denham, Or Afrinvestor by Afrivest, or Stanbic IBTC.
My name is Iking Ferry.
And I don’t just talk about investment…
I help you understand money the way most people never will.
See less