Many people get confused about tax filing in Nigeria because they mix up personal income tax and company income tax

Let me explain

The First thing you must understand is that Personal income tax and company income tax are not the same

If your business is a small business under your name like a sole proprietorship or enterprise, then you will file personal income tax

If your business is registered as a limited liability company, then it will file company income tax

Now let me explain the timing in a way that even Mama Ngozi that sells Tomatoes in the Village will understand.

Imagine:

Mama Ngozi starts her tomato business in January 2026

From that day, she begins to record everything she sells and all her income

She cannot file tax immediately because she has not completed one full year of business

She will keep records from January to December 2026

After the year ends, she will now calculate everything she made

Then she will file her tax in 2027

That is how it works

Now here is the key difference many people don’t know

Personal income tax deadline is always March 31 every year

Company income tax is usually filed after the company has completed 12 months of operation

Let me tell you Another important truth

Even if you just started a business in 2026, if you had personal income in 2025, you are still expected to file your personal income tax for 2025 before March 31 2026

That is because tax is always based on the previous year

Another important thing is business commencement date

YES… When you register with FIRS, now Nigeria Revenue Service, they will ask for your business start date

That date is very important because that is when your tax record begins

From that date, you count 12 months of business operation before filing

In Simple English…

If it is personal income tax, file every year before March 31

If it is company income tax, file after one full year of business

Tax is not about when you register, it is about when you start earning and recording income

Once you understand this, you will never miss your tax deadline again and you will stay compliant without stress

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Let me answer you honestly… without sugarcoating anything.

1. What it takes for me to mentor someone

For me, Mentorship is not about liking you.

It is not about following me.

It is not about asking many questions.

Mentorship is about responsibility.

And most people are not ready for it.

These are the things I look for:

1. You must be serious with your life

Not motivated… serious.

Motivation fades.

Seriousness stays.

If you are still jumping from one opportunity to another,

looking for quick money…

Mentorship will not help you.

2. You must be willing to follow structure

I don’t do trial-and-error mentorship.

If I give you a structure and you keep doing your own thing…

You are wasting your time.

3. You must have patience

Wealth is not built in 3 months.

And If your mindset is: “Let me try this and see results quickly”

You are not ready.

4. You must be financially committed

Let me be very clear.

Free advice is general.

Mentorship is specific.

And anything that is specific requires:

Time

Attention

And Strategy

That is why mentorship is not free.

Not because of money alone…

But because commitment is tested through what you are willing to invest.

 

2. As a beginner, where should you start investing?

This is where most people make their biggest mistake.

They start with:

Crypto

Trading

And High-risk stocks

Because they want fast results.

Let me explain this better, using a simple example.

If Mama Ngozi has ₦100,000…

She will not use it to do risky business first.

She will first:

Keep part safe

Use small part to test business

That is wisdom.

Here’s a Step-by-Step Starting Point for Beginners:

Step 1: Start with Money Market Mutual Fund

This is your foundation.

Why?

Because… its Low risk investment with Stable returns, and very Easy to access.

This Helps you build discipline

Think of it as:

“Parking your money where it is working quietly”

Step 2: Learn before you move

Don’t rush into stocks.

First understand:

How companies make money

How to read basic financials

Why prices go up and down

Because…. Ignorance in investment is expensive.

Step 3: Move to Stocks gradually

When you understand the basics:

Start with strong companies

Think long-term

Don’t chase hype

Step 4: Only then consider high-risk assets

Like Crypto, aggressive investments…

And this Should not be more than 10% of your portfolio

Because… Anything beyond that is gambling, not investing.

Let me tell you the truth:

Most people are not poor because they don’t have money…

They are poor because:

They don’t have structure

They don’t have discipline

They don’t have patience

So… here’s My Advice to You

Don’t rush to look for mentorship.

First:

Build discipline

Start small

Stay consistent

When you are ready for structure…

Mentorship will find you.

I am Iking Ferry.

I don’t just teach investment.

I teach how to think about money.

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This is a very deep question, and the answer becomes clear when you understand how value is created at each level of the financial system.

Let me explain.

At the basic level, individuals earn money from their work or business. The challenge for most people is that this money sits idle or is not managed properly. When individuals save or invest, they are basically giving their money to institutions to manage.

Banks and investment institutions do not let money sleep. They take deposits and invest in assets like government bonds, corporate bonds, money market instruments, stocks, and sometimes structured investments. Their profit comes from the difference between what they earn on investments and what they pay to customers.

Now, beyond banks, investment institutions like asset managers and fund managers think differently. Their main job is to allocate capital efficiently. They study risks, returns, timing, and market conditions before deciding where to place money. Their profit comes from management fees, performance, and sometimes spreads or investment gains depending on the structure.

Let me simplify the chain of value creation.

Individuals create value through work and business.
Banks create value by collecting idle money and lending or investing it.
Investment institutions create value by professionally allocating large pools of capital into different assets.
Government creates value by using borrowed funds to build infrastructure and support the economy.
Companies create value by using capital to grow revenue and profits.

For Example:
Imagine Mama Ngozi sells tomatoes. At the end of the day, she has money.
If she keeps it idle, it loses value over time. If she puts it in a trusted saving system, that money is pooled together with others and used to support bigger activities like lending or investment.
so… In return, she earns a share of the returns.

Now here is the deeper secret many people miss.

Investment institutions are not just looking for returns. They are managing risk first, then returns.
They diversify across assets, time horizons, and economic cycles. They also think in terms of probability, not certainty. They understand that not every investment will win, but the overall portfolio must win over time.

Another important secret is that institutions operate with discipline, not emotion. They follow structured processes, data, and long term strategies. They do not chase hype. They position capital where the risk reward is favorable, and they constantly rebalance.

So how can an individual think like an institution?

First, stop thinking like a trader chasing quick profit.
Start thinking like a capital allocator. Ask where your money is best positioned for growth over time.

Second, understand risk before return. Do not invest in what you do not understand.

Third, diversify instead of concentrating everything in one place.

Fourth, think long term. Institutions are not trying to double money overnight. They build consistent growth over time.

Fifth, build knowledge continuously. The more you understand how money flows, the better your decisions become.

Because… Wealth is not only about how much money you have, but how well you understand where money should go and why.

If you think like an investor, you protect capital.
If you think like an institution, you allocate capital wisely.
If you combine both, you move from being a saver to becoming a strategic participant in the financial system.

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This is a very good question.

And I’m glad you asked it, because many people hear “Sukuk” and don’t really understand how it works.

As your Financial Literacy Advocate, let me break it down for you with a Simple Story.

First – Is Sukuk Risky?

Sukuk is NOT a high-risk investment.

In fact…

It is considered a low to moderate risk investment.

Especially when it is issued by the Federal Government of Nigeria (FGN Sukuk).

Let Me Explain:

Imagine the government wants to build a road.

Instead of borrowing money with interest…

They say:

“Let people contribute money to build this road, and we will pay them returns from the project.”

So you now put your money.

That means:

You are not lending money blindly

You are investing in a real project (like roads, infrastructure)

That is Sukuk.

Who Issues Sukuk?

There are two types:

1: Government Sukuk (FGN Sukuk)

Issued by the Federal Government

Very low risk

Backed by government projects

2: Corporate Sukuk

Issued by private companies

Slightly higher risk

Depends on the company strength

So Which One Are Most Nigerians Buying?

Most people invest in FGN Sukuk

Because:

It’s..

• safer

• more stable

• government-backed

When Do You Receive Payment on Sukuk?

Sukuk pays periodically (usually every 6 months)

Not monthly like some investments

So if you invest:

• You receive returns twice a year

• Then your capital is returned at maturity

Is Sukuk Truly “Risk-Free”?

Let me be honest with you.

No investment is 100% risk-free.

But…

FGN Sukuk is one of the safest instruments in Nigeria

Why?

Because it is backed by:

• government

• real assets

• structured repayment system

If you are:

• looking for stability

• want predictable income

• don’t want high volatility

Sukuk is a very good option.

Sukuk is not just an investment…

It is structured, ethical, and asset-backed.

That is why both:

• Muslims

• Non-Muslims

are investing in it today.

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Yes, you can buy ETF without monitoring it daily.

In fact…

That is one of the main reasons ETFs were created.

As a Financial Literacy Advocate, Let Me Explain this better With A Simple Story.

Imagine Mama Ngozi wants to invest in farming.

But she doesn’t know:

• which crops will do well

• when to plant

• when to harvest

Now she has two options:

Option 1: Do Everything Herself

She will:

• choose crops

• manage the farm

• monitor everything daily

High stress.

High risk.

Option 2: Partner With Experts

She gives her money to a group of experienced farmers…

Who now:

• plant different crops

• manage everything

• reduce risk

And she shares in the profit.

That second option is what ETFs (and mutual funds) do.

What Exactly Is An ETF?

ETF means: Exchange Traded Fund

It is simply:

A basket of investments (stocks, bonds, etc.)

Managed automatically based on an index

For example:

• One ETF can track the entire US market

• Another can track tech companies

• Another can track global stocks

So Do You Need To Monitor It Daily?

No.

If you are a long-term investor, you don’t need to:

• check price every day

• buy and sell frequently

• stress yourself

But Let Me Tell You The Truth (Very Important)

There are two types of ETF investors:

1: Active ETF Investors

They:

• buy and sell frequently

• monitor charts

• trade like stocks

This one is stressful.

2: Passive ETF Investors (The Smart Way)

They:

• buy consistently

• hold long-term

• ignore short-term noise

This is what you are looking for.

Can ETF Be Managed Like Mutual Funds?

Yes, if you use it correctly.

Even though ETFs are traded like stocks…

You can treat them like mutual funds by:

• investing regularly (monthly, quarterly)

• holding for years

• not reacting emotionally

But, here’s the Secret Many People Don’t Know

ETF is actually one of the favorite tools of wealthy investors.

Why?

Because it gives:

• diversification (you don’t depend on one company)

• lower risk

• less stress

• long-term growth

Don’t Forget that the Real Problem Is Not ETF

The real problem is:

Mindset

Because…

Many people think investing must be:

• active

• stressful

• complicated

No.

Simple investing often wins in the long run.

So… If you don’t have time or expertise:

Don’t force yourself to trade

But.. Instead:

• choose solid ETFs

• invest consistently

• think long-term

Here’s my honest Opinion:

You don’t need to be glued to your screen to build wealth.

Sometimes…

The smartest move is:

Buy right… and stay patient.

If you understand this… you have already solved 50% of your investment problem.

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