It depends on the platform and the specific IPO process, but normally, if you subscribe through your stockbroker, the money is paid through the broker's designated subscription process. For example, let's say you have: ₦200,000 in your bank account ₦50,000 available as cash in your brokerage accountRead more
It depends on the platform and the specific IPO process, but normally, if you subscribe through your stockbroker, the money is paid through the broker’s designated subscription process.
For example, let’s say you have:
₦200,000 in your bank account
₦50,000 available as cash in your brokerage account
You want to subscribe ₦30,000 to an IPO.
If your broker requires you to fund your brokerage account first, the ₦30,000 will come from the ₦50,000 available balance with the broker, leaving ₦20,000.
But some IPO platforms may instruct investors to make payment directly from their bank account through a designated payment channel. So you shouldn’t assume every IPO works exactly the same way.
Also, an IPO subscription is different from simply buying an already-listed share on the NGX. Read the IPO offer document and follow the payment instructions provided by the issuing company, registrar or your broker.
A simple rule is:
Before confirming the subscription, check where the payment is coming from and whether the money is being held pending allotment.
I think you're right that net worth is one of the clearest ways to measure financial wealth, but I wouldn't say they are exactly the same thing. Net worth is a number. Wealth is broader. Net worth is calculated as: Total Assets − Total Liabilities = Net Worth For example, imagine someone owns: - A hRead more
I think you’re right that net worth is one of the clearest ways to measure financial wealth, but I wouldn’t say they are exactly the same thing.
Net worth is a number. Wealth is broader.
Net worth is calculated as:
Total Assets − Total Liabilities = Net Worth
For example, imagine someone owns:
– A house worth ₦30 million
– Land worth ₦10 million
– Investments worth ₦5 million
– Savings of ₦5 million
Total assets = ₦50 million
But the person still owes:
– Mortgage/loan = ₦15 million
So their net worth is:
₦50m − ₦15m = ₦35 million.
Now, when we talk about wealth, we’re looking beyond just that ₦35 million. We can consider the person’s ability to generate income, the quality of their assets, financial security, business ownership, knowledge, relationships and even the freedom those resources give them.
For example, Person A may have a ₦50 million house but ₦45 million in debt and struggles every month to pay bills.
Person B may have ₦20 million in investments, a profitable business, no debt and enough passive income to cover their living expenses.
Person A may have the bigger net worth on paper, but Person B could arguably have greater financial freedom and stronger sustainable wealth.
So I would put it this way:
Net worth tells you what you have after subtracting what you owe.
Wealth is the broader picture of the resources you own, the income they can generate, your financial security and your ability to maintain and grow those resources over time.
In short, net worth is a measurement of wealth, while wealth is the bigger picture.
You can potentially buy Dangote Refinery shares cheaper after the IPO, but there is no guarantee that they will become cheaper. Think of it this way: If the IPO price is ₦525 per share and I buy 1,000 shares: 1,000 × ₦525 = ₦525,000 After the shares begin trading on the secondary market, three thingRead more
You can potentially buy Dangote Refinery shares cheaper after the IPO, but there is no guarantee that they will become cheaper.
Think of it this way:
If the IPO price is ₦525 per share and I buy 1,000 shares:
1,000 × ₦525 = ₦525,000
After the shares begin trading on the secondary market, three things can happen.
Scenario 1: The price rises
Strong demand pushes the share to ₦650.
My 1,000 shares are now worth ₦650,000.
In this situation, buying during the IPO at ₦525 was cheaper.
Scenario 2: The price falls
Investors become concerned about the company’s valuation, profits, crude supply, or future performance, and the share falls to ₦450.
Now I could buy 1,000 shares for:
1,000 × ₦450 = ₦450,000
That’s ₦75,000 cheaper than the IPO price.
Scenario 3: The price stays around the IPO price
It could trade around ₦500–₦550 depending on demand and market conditions.
So which is better?
I wouldn’t automatically assume the IPO is cheaper. The IPO gives you the opportunity to buy at the offer price, but after listing, the market determines the price based on supply, demand and investors’ expectations.
For example, if I believe Dangote Refinery is worth investing in for the long term, I could buy some during the IPO rather than waiting and hoping for a lower price.
But if I believe the IPO valuation is too high, I could wait until after listing and see whether the market gives me a better entry point.
The important lesson is:
₦525 is the IPO price, not a price floor. The share can trade above or below ₦525 after listing.
So don’t buy simply because it is “Dangote.” Look at the company’s valuation, profitability, debt, cash flow, expansion plans and the risks surrounding the refinery before deciding how much you are willing to invest.
Good question. You are actually connecting two things that can be related, but the relationship is not direct. Think of GDP as a measure of how much economic activity is happening in the country. If Nigeria's GDP is growing, it generally means businesses are producing more goods and services, peopleRead more
Good question. You are actually connecting two things that can be related, but the relationship is not direct.
Think of GDP as a measure of how much economic activity is happening in the country.
If Nigeria’s GDP is growing, it generally means businesses are producing more goods and services, people are spending more, and economic activity is expanding.
For example, imagine a Nigerian company that sells food products.
Last year, it made ₦10 billion in revenue and ₦1 billion profit.
If the economy improves, consumers have more purchasing power and business activity increases, the company might grow its revenue to ₦12 billion and profit to ₦1.5 billion.
If investors believe the company’s future profits will continue growing, they may be willing to pay more for its shares.
That’s one way GDP growth can eventually benefit equity investors.
Now let’s look at your money-market fund example.
GDP growth can influence the broader economy, but your money-market fund’s return is more directly connected to interest rates and the yields available on short-term instruments such as Treasury Bills and other fixed-income securities.
So if you see a money-market fund’s return around 16%, don’t assume it is simply because GDP increased. The fund manager may be earning higher yields from the instruments in the fund.
For example:
If you invest ₦1 million in a money-market fund and the fund earns an annualised 16%, that would be roughly ₦160,000 over a full year, before considering fees, taxes, compounding and changes in the fund’s actual yield.
For an equity fund, the relationship can be different.
Imagine you invest ₦1 million in an equity fund that holds shares of 20 Nigerian companies.
If the Nigerian economy improves, some of those companies may record higher sales and profits. Investors may become more confident, demand for shares may increase, and the value of the equity fund could rise.
But GDP growth does not guarantee this.
A company can still perform badly even when the economy is growing.
But there are other factors involved, especially inflation, interest rates, exchange rates, company profits and investor sentiment.
Nigeria’s recent economic data actually gives a good example of why you need to look beyond GDP alone. The IMF says Nigeria’s reforms have improved macroeconomic stability, while inflation has been on a declining trend but remains a significant factor.
So if your mentor says, “Nigeria’s GDP has increased, do you know what happens to your investment?”, I wouldn’t interpret that as “GDP increased, therefore my investment must increase.”
I’d interpret it as:
“A growing economy can create a better environment for businesses and investments, but I still need to understand what I actually own and what is driving its return.”
Both options can make sense, but they serve different purposes. If I have ₦1 million and a fintech is offering 19.6% interest, the first thing I would ask is: Is that 19.6% guaranteed, for how long, and what exactly am I investing in? I would also verify that the platform/operator is properly regulaRead more
Both options can make sense, but they serve different purposes.
If I have ₦1 million and a fintech is offering 19.6% interest, the first thing I would ask is: Is that 19.6% guaranteed, for how long, and what exactly am I investing in? I would also verify that the platform/operator is properly regulated. The SEC provides an official register for checking investment operators in Nigeria.
For a simple illustration, if the 19.6% rate were genuinely available for a full year:
₦1,000,000 × 19.6% = ₦196,000
So you could have about ₦1.196 million after one year, before any applicable fees or taxes.
Now compare that with GTCO shares.
If you invest ₦1 million in GTCO and the share price increases by 20%, your shares could be worth approximately ₦1.2 million, excluding dividends and costs.
But if the share price falls by 20%, your ₦1 million could become approximately ₦800,000.
That’s the major difference:
19.6% fixed return: more predictable, assuming the rate and product terms are genuine and maintained.
GTCO shares: potentially higher long-term growth, plus dividends, but the value can rise or fall.
For someone who is just starting their financial journey, I personally wouldn’t put the entire ₦1 million into one stock simply because GTCO is a strong company.
Also remember that 19.6% is a nominal return. If inflation remains high, your money can still lose purchasing power even though the account balance is increasing. The CBN publishes current inflation and money-market indicators, so these should be considered when evaluating fixed-income returns.
So I wouldn’t ask, “GTCO or 19.6%?”
I’d ask:
“How much of my ₦1 million can I afford to expose to market risk, and how much do I need to protect?”
For a beginner, protecting the foundation while gradually learning about stocks may be more sensible than putting everything into one company.
There are a few REITs listed on the Nigerian Exchange that investors can look at, including: • UPDC REIT (UPDCREIT) • SFS REIT (SFSREIT) • Union Homes REIT (UHOMREIT) The NGX currently classifies these under Real Estate Investment Trusts. But I wouldn't say one is automatically “the best.” It dependRead more
There are a few REITs listed on the Nigerian Exchange that investors can look at, including:
• UPDC REIT (UPDCREIT)
• SFS REIT (SFSREIT)
• Union Homes REIT (UHOMREIT)
The NGX currently classifies these under Real Estate Investment Trusts.
But I wouldn’t say one is automatically “the best.” It depends on what you want from the investment: income, long-term growth, liquidity, or exposure to real estate.
For example, imagine I have ₦100,000 and I don’t have enough money to buy a physical property.
Instead of trying to raise millions to buy an apartment, I could buy units of a REIT. The REIT pools investors’ money and invests in real estate assets. I can therefore get exposure to real estate without personally buying and managing a building.
For instance, NGX showed UPDCREIT trading around ₦14.40 on September 4, 2026, while SFSREIT was around ₦418.75.
So with ₦100,000, the number of units I could buy would be very different depending on the REIT’s market price.
The important thing is not to choose based only on the cheapest unit price. I would check:
1. Dividend/distribution history
2. Value and quality of the underlying properties
3. Rental income and occupancy
4. Debt levels
5. Liquidity and trading volume
6. Management performance
7. Current price compared with the value of the underlying assets
For example, if I buy ₦100,000 worth of a REIT and it pays me ₦8,000 in distributions during the year, while the market value of my units rises to ₦110,000, my total return would be roughly ₦18,000 before applicable costs and taxes.
But if property values or the REIT’s income fall, the unit price can also fall.
So, for a beginner, I would research UPDCREIT, SFSREIT and UHOMREIT side by side rather than simply asking which one is the best.
A REIT can give you real-estate exposure without needing millions to buy a property, but it is still an investment whose price and income can go up or down.
At 42, you are definitely not too old to learn a new skill or increase your income. In fact, you already have something younger people may not have: experience, discipline and an understanding of what people need. Since you are supporting a family of 6, I wouldn't advise you to learn a skill simplyRead more
At 42, you are definitely not too old to learn a new skill or increase your income. In fact, you already have something younger people may not have: experience, discipline and an understanding of what people need.
Since you are supporting a family of 6, I wouldn’t advise you to learn a skill simply because it is trending. Choose something that has real demand, low starting cost and can generate income within a reasonable period.
Some options you can consider are:
• Catering/snacks and small chops
• Baking for birthdays, weddings and events
• Hairdressing, wig making or hairstyling
• Fashion designing or clothing alterations
• Laundry/cleaning services
• Makeup and gele styling
• Phone/computer digital skills such as social media management, Canva design, bookkeeping or virtual assistance
• Selling food items or household essentials
• Tutoring if you have a strong educational background
For example, suppose you choose snack production. Instead of immediately renting a shop, you could learn how to make doughnuts, chin-chin and small chops, start from home with ₦50,000–₦100,000, and supply offices, schools, shops and events.
If you make a profit of just ₦2,000 per order and get 5 orders a week, that’s about ₦10,000 weekly, or roughly ₦40,000 a month. As your customer base grows, the income can grow too.
Another example is digital skills. You could learn Canva and social media management and start helping small businesses create flyers and manage their WhatsApp/Instagram pages. If you eventually have 5 clients paying ₦20,000 monthly, that’s ₦100,000 additional income per month.
Don’t try to learn five skills at once.
Pick ONE skill → learn it → practise → start small → get your first customer → reinvest the profit → improve your service.
And because you have a family of 6, I would also recommend that you don’t put all your current income into starting the new business. Start small while maintaining your existing source of income until the new skill begins to generate consistently.
At 42, the goal isn’t to start life again. It’s to use what you already know, add a valuable skill, and create another source of income.
Not making withdrawals or transfers doesn't necessarily mean your account will have zero deductions. Banks can charge for certain account maintenance, card, SMS/alert, VAT, stamp duty, or other applicable services, depending on the type of account and the transactions or services attached to it. DigRead more
Not making withdrawals or transfers doesn’t necessarily mean your account will have zero deductions.
Banks can charge for certain account maintenance, card, SMS/alert, VAT, stamp duty, or other applicable services, depending on the type of account and the transactions or services attached to it. Digital banks may also have their own fees.
For example, imagine you have ₦50,000 in your account and you don’t make any transfer or withdrawal for a month. You might still notice a deduction because a fee was applied to your debit card, account service, or another subscribed service.
The important thing is that every deduction should have a clear description.
If I notice ₦500, ₦1,000 or ₦2,000 disappearing from my account, I wouldn’t just assume the bank is stealing my money. I would check the transaction history and ask the bank:
“What exactly is this charge for, and what is the applicable fee or tariff?”
If the charge is incorrect or I don’t recognise it, I would formally dispute it and request a reversal where appropriate.
Also, don’t leave an account open indefinitely if you no longer use it, especially if it has services or cards attached to it. Close or deactivate accounts you don’t need after settling any outstanding obligations.
So the lesson is: No withdrawals or transfers doesn’t always mean no bank charges. Know the fee structure attached to your account and regularly check your statement.
Yes, you can still potentially claim it. The fact that your loved one died in 2006 does not automatically mean the money is lost. For example, imagine your aunt died in 2006 and had ₦500,000 in a bank account. Nobody operated the account for many years, so the account eventually became dormant and tRead more
Yes, you can still potentially claim it. The fact that your loved one died in 2006 does not automatically mean the money is lost.
For example, imagine your aunt died in 2006 and had ₦500,000 in a bank account. Nobody operated the account for many years, so the account eventually became dormant and the money could have been transferred to the CBN’s Unclaimed Balances Trust Fund.
As her beneficiary, you can still start the process of establishing your entitlement.
The first thing I would do is contact the bank where she had the account and explain that the account holder died in 2006. Take whatever documents you have, such as:
• Her full name and old account details, if available
• Death certificate
• Your valid means of identification
• Documents showing your relationship to her
• Probate/Letters of Administration or other legal evidence showing who is entitled to administer or inherit her estate
If the money has already been transferred to the CBN’s Unclaimed Balances Trust Fund, the bank can help you begin the reclaim process. The CBN also provides a way to search for unclaimed balances.
One important point: being the next-of-kin does not necessarily mean you can simply walk into the bank and withdraw the money. You may need the appropriate legal documents proving your right to act for the deceased’s estate.
For example, if three siblings are the beneficiaries, the bank will not normally just give one sibling the entire ₦500,000 because that person says, “I am the eldest.” The bank will require proper evidence of who is legally entitled to the funds.
So after 20 years, don’t assume the money is gone. Start by tracing the account and establishing your legal entitlement. The CBN’s current guidelines state that beneficiaries can reclaim eligible unclaimed balances and that the right to reclaim is indefinite.
It depends on how the joint account was opened and the mandate given to the bank. For example, if two people, A and B, open a joint account with a “either to sign” mandate, either person may be able to withdraw money or give instructions without the other person's approval. If they use an “both to sRead more
It depends on how the joint account was opened and the mandate given to the bank.
For example, if two people, A and B, open a joint account with a “either to sign” mandate, either person may be able to withdraw money or give instructions without the other person’s approval.
If they use an “both to sign” mandate, then both people must authorize the withdrawal.
For example, imagine A and B have ₦1 million in a joint account.
If the account is “either to sign,” A may be able to withdraw the ₦1 million without B being physically present.
But if the account is “both to sign,” A cannot normally withdraw the money alone because B’s authorization is required.
So having access to the account does not automatically mean one person can withdraw alone. Check the account mandate and the bank’s terms.
If you’re dealing with a specific Nigerian bank, I would advise contacting the bank and asking them exactly what signing mandate applies to the joint account before making any withdrawal.
Does My Broker Deduct IPO Subscription Funds From My Brokerage Account?
It depends on the platform and the specific IPO process, but normally, if you subscribe through your stockbroker, the money is paid through the broker's designated subscription process. For example, let's say you have: ₦200,000 in your bank account ₦50,000 available as cash in your brokerage accountRead more
It depends on the platform and the specific IPO process, but normally, if you subscribe through your stockbroker, the money is paid through the broker’s designated subscription process.
For example, let’s say you have:
₦200,000 in your bank account
₦50,000 available as cash in your brokerage account
You want to subscribe ₦30,000 to an IPO.
If your broker requires you to fund your brokerage account first, the ₦30,000 will come from the ₦50,000 available balance with the broker, leaving ₦20,000.
But some IPO platforms may instruct investors to make payment directly from their bank account through a designated payment channel. So you shouldn’t assume every IPO works exactly the same way.
Also, an IPO subscription is different from simply buying an already-listed share on the NGX. Read the IPO offer document and follow the payment instructions provided by the issuing company, registrar or your broker.
A simple rule is:
Before confirming the subscription, check where the payment is coming from and whether the money is being held pending allotment.
See lessHow Is Net Worth Different From the Overall Wealth a Person Has?
I think you're right that net worth is one of the clearest ways to measure financial wealth, but I wouldn't say they are exactly the same thing. Net worth is a number. Wealth is broader. Net worth is calculated as: Total Assets − Total Liabilities = Net Worth For example, imagine someone owns: - A hRead more
I think you’re right that net worth is one of the clearest ways to measure financial wealth, but I wouldn’t say they are exactly the same thing.
Net worth is a number. Wealth is broader.
Net worth is calculated as:
Total Assets − Total Liabilities = Net Worth
For example, imagine someone owns:
– A house worth ₦30 million
– Land worth ₦10 million
– Investments worth ₦5 million
– Savings of ₦5 million
Total assets = ₦50 million
But the person still owes:
– Mortgage/loan = ₦15 million
So their net worth is:
₦50m − ₦15m = ₦35 million.
Now, when we talk about wealth, we’re looking beyond just that ₦35 million. We can consider the person’s ability to generate income, the quality of their assets, financial security, business ownership, knowledge, relationships and even the freedom those resources give them.
For example, Person A may have a ₦50 million house but ₦45 million in debt and struggles every month to pay bills.
Person B may have ₦20 million in investments, a profitable business, no debt and enough passive income to cover their living expenses.
Person A may have the bigger net worth on paper, but Person B could arguably have greater financial freedom and stronger sustainable wealth.
So I would put it this way:
Net worth tells you what you have after subtracting what you owe.
Wealth is the broader picture of the resources you own, the income they can generate, your financial security and your ability to maintain and grow those resources over time.
In short, net worth is a measurement of wealth, while wealth is the bigger picture.
See lessCan Dangote Refinery Shares Fall Below the IPO Price After Listing?
You can potentially buy Dangote Refinery shares cheaper after the IPO, but there is no guarantee that they will become cheaper. Think of it this way: If the IPO price is ₦525 per share and I buy 1,000 shares: 1,000 × ₦525 = ₦525,000 After the shares begin trading on the secondary market, three thingRead more
You can potentially buy Dangote Refinery shares cheaper after the IPO, but there is no guarantee that they will become cheaper.
Think of it this way:
If the IPO price is ₦525 per share and I buy 1,000 shares:
1,000 × ₦525 = ₦525,000
After the shares begin trading on the secondary market, three things can happen.
Scenario 1: The price rises
Strong demand pushes the share to ₦650.
My 1,000 shares are now worth ₦650,000.
In this situation, buying during the IPO at ₦525 was cheaper.
Scenario 2: The price falls
Investors become concerned about the company’s valuation, profits, crude supply, or future performance, and the share falls to ₦450.
Now I could buy 1,000 shares for:
1,000 × ₦450 = ₦450,000
That’s ₦75,000 cheaper than the IPO price.
Scenario 3: The price stays around the IPO price
It could trade around ₦500–₦550 depending on demand and market conditions.
So which is better?
I wouldn’t automatically assume the IPO is cheaper. The IPO gives you the opportunity to buy at the offer price, but after listing, the market determines the price based on supply, demand and investors’ expectations.
For example, if I believe Dangote Refinery is worth investing in for the long term, I could buy some during the IPO rather than waiting and hoping for a lower price.
But if I believe the IPO valuation is too high, I could wait until after listing and see whether the market gives me a better entry point.
The important lesson is:
₦525 is the IPO price, not a price floor. The share can trade above or below ₦525 after listing.
So don’t buy simply because it is “Dangote.” Look at the company’s valuation, profitability, debt, cash flow, expansion plans and the risks surrounding the refinery before deciding how much you are willing to invest.
See lessHow Does Nigeria’s GDP Growth Affect Investments and Wealth Creation?
Good question. You are actually connecting two things that can be related, but the relationship is not direct. Think of GDP as a measure of how much economic activity is happening in the country. If Nigeria's GDP is growing, it generally means businesses are producing more goods and services, peopleRead more
Good question. You are actually connecting two things that can be related, but the relationship is not direct.
Think of GDP as a measure of how much economic activity is happening in the country.
If Nigeria’s GDP is growing, it generally means businesses are producing more goods and services, people are spending more, and economic activity is expanding.
For example, imagine a Nigerian company that sells food products.
Last year, it made ₦10 billion in revenue and ₦1 billion profit.
If the economy improves, consumers have more purchasing power and business activity increases, the company might grow its revenue to ₦12 billion and profit to ₦1.5 billion.
If investors believe the company’s future profits will continue growing, they may be willing to pay more for its shares.
That’s one way GDP growth can eventually benefit equity investors.
Now let’s look at your money-market fund example.
GDP growth can influence the broader economy, but your money-market fund’s return is more directly connected to interest rates and the yields available on short-term instruments such as Treasury Bills and other fixed-income securities.
So if you see a money-market fund’s return around 16%, don’t assume it is simply because GDP increased. The fund manager may be earning higher yields from the instruments in the fund.
For example:
If you invest ₦1 million in a money-market fund and the fund earns an annualised 16%, that would be roughly ₦160,000 over a full year, before considering fees, taxes, compounding and changes in the fund’s actual yield.
For an equity fund, the relationship can be different.
Imagine you invest ₦1 million in an equity fund that holds shares of 20 Nigerian companies.
If the Nigerian economy improves, some of those companies may record higher sales and profits. Investors may become more confident, demand for shares may increase, and the value of the equity fund could rise.
But GDP growth does not guarantee this.
A company can still perform badly even when the economy is growing.
That’s why I would think about it like this:
GDP growth → stronger economic activity → potentially higher business revenue/profits → potentially better investor confidence → potentially higher asset prices.
But there are other factors involved, especially inflation, interest rates, exchange rates, company profits and investor sentiment.
Nigeria’s recent economic data actually gives a good example of why you need to look beyond GDP alone. The IMF says Nigeria’s reforms have improved macroeconomic stability, while inflation has been on a declining trend but remains a significant factor.
So if your mentor says, “Nigeria’s GDP has increased, do you know what happens to your investment?”, I wouldn’t interpret that as “GDP increased, therefore my investment must increase.”
I’d interpret it as:
“A growing economy can create a better environment for businesses and investments, but I still need to understand what I actually own and what is driving its return.”
That’s the important lesson for an investor.
See lessIs It Better to Invest ₦1 Million in GTCO Stock or Earn 19.6% Interest?
Both options can make sense, but they serve different purposes. If I have ₦1 million and a fintech is offering 19.6% interest, the first thing I would ask is: Is that 19.6% guaranteed, for how long, and what exactly am I investing in? I would also verify that the platform/operator is properly regulaRead more
Both options can make sense, but they serve different purposes.
If I have ₦1 million and a fintech is offering 19.6% interest, the first thing I would ask is: Is that 19.6% guaranteed, for how long, and what exactly am I investing in? I would also verify that the platform/operator is properly regulated. The SEC provides an official register for checking investment operators in Nigeria.
For a simple illustration, if the 19.6% rate were genuinely available for a full year:
₦1,000,000 × 19.6% = ₦196,000
So you could have about ₦1.196 million after one year, before any applicable fees or taxes.
Now compare that with GTCO shares.
If you invest ₦1 million in GTCO and the share price increases by 20%, your shares could be worth approximately ₦1.2 million, excluding dividends and costs.
But if the share price falls by 20%, your ₦1 million could become approximately ₦800,000.
That’s the major difference:
19.6% fixed return: more predictable, assuming the rate and product terms are genuine and maintained.
GTCO shares: potentially higher long-term growth, plus dividends, but the value can rise or fall.
For someone who is just starting their financial journey, I personally wouldn’t put the entire ₦1 million into one stock simply because GTCO is a strong company.
A more balanced example could be:
₦500,000 → fixed-income/money-market investment
₦300,000 → diversified Nigerian equities
₦200,000 → emergency fund/cash reserve
Then continue investing from future salaries.
Also remember that 19.6% is a nominal return. If inflation remains high, your money can still lose purchasing power even though the account balance is increasing. The CBN publishes current inflation and money-market indicators, so these should be considered when evaluating fixed-income returns.
So I wouldn’t ask, “GTCO or 19.6%?”
I’d ask:
“How much of my ₦1 million can I afford to expose to market risk, and how much do I need to protect?”
For a beginner, protecting the foundation while gradually learning about stocks may be more sensible than putting everything into one company.
See lessWhat Are the Best Real Estate Investment Trusts (REITs) Listed on the NGX?
There are a few REITs listed on the Nigerian Exchange that investors can look at, including: • UPDC REIT (UPDCREIT) • SFS REIT (SFSREIT) • Union Homes REIT (UHOMREIT) The NGX currently classifies these under Real Estate Investment Trusts. But I wouldn't say one is automatically “the best.” It dependRead more
There are a few REITs listed on the Nigerian Exchange that investors can look at, including:
• UPDC REIT (UPDCREIT)
• SFS REIT (SFSREIT)
• Union Homes REIT (UHOMREIT)
The NGX currently classifies these under Real Estate Investment Trusts.
But I wouldn’t say one is automatically “the best.” It depends on what you want from the investment: income, long-term growth, liquidity, or exposure to real estate.
For example, imagine I have ₦100,000 and I don’t have enough money to buy a physical property.
Instead of trying to raise millions to buy an apartment, I could buy units of a REIT. The REIT pools investors’ money and invests in real estate assets. I can therefore get exposure to real estate without personally buying and managing a building.
For instance, NGX showed UPDCREIT trading around ₦14.40 on September 4, 2026, while SFSREIT was around ₦418.75.
So with ₦100,000, the number of units I could buy would be very different depending on the REIT’s market price.
The important thing is not to choose based only on the cheapest unit price. I would check:
1. Dividend/distribution history
2. Value and quality of the underlying properties
3. Rental income and occupancy
4. Debt levels
5. Liquidity and trading volume
6. Management performance
7. Current price compared with the value of the underlying assets
For example, if I buy ₦100,000 worth of a REIT and it pays me ₦8,000 in distributions during the year, while the market value of my units rises to ₦110,000, my total return would be roughly ₦18,000 before applicable costs and taxes.
But if property values or the REIT’s income fall, the unit price can also fall.
So, for a beginner, I would research UPDCREIT, SFSREIT and UHOMREIT side by side rather than simply asking which one is the best.
A REIT can give you real-estate exposure without needing millions to buy a property, but it is still an investment whose price and income can go up or down.
See lessWhat High-Income Skills Can I Learn at 42 to Improve My Financial Situation?
At 42, you are definitely not too old to learn a new skill or increase your income. In fact, you already have something younger people may not have: experience, discipline and an understanding of what people need. Since you are supporting a family of 6, I wouldn't advise you to learn a skill simplyRead more
At 42, you are definitely not too old to learn a new skill or increase your income. In fact, you already have something younger people may not have: experience, discipline and an understanding of what people need.
Since you are supporting a family of 6, I wouldn’t advise you to learn a skill simply because it is trending. Choose something that has real demand, low starting cost and can generate income within a reasonable period.
Some options you can consider are:
• Catering/snacks and small chops
• Baking for birthdays, weddings and events
• Hairdressing, wig making or hairstyling
• Fashion designing or clothing alterations
• Laundry/cleaning services
• Makeup and gele styling
• Phone/computer digital skills such as social media management, Canva design, bookkeeping or virtual assistance
• Selling food items or household essentials
• Tutoring if you have a strong educational background
For example, suppose you choose snack production. Instead of immediately renting a shop, you could learn how to make doughnuts, chin-chin and small chops, start from home with ₦50,000–₦100,000, and supply offices, schools, shops and events.
If you make a profit of just ₦2,000 per order and get 5 orders a week, that’s about ₦10,000 weekly, or roughly ₦40,000 a month. As your customer base grows, the income can grow too.
Another example is digital skills. You could learn Canva and social media management and start helping small businesses create flyers and manage their WhatsApp/Instagram pages. If you eventually have 5 clients paying ₦20,000 monthly, that’s ₦100,000 additional income per month.
Don’t try to learn five skills at once.
Pick ONE skill → learn it → practise → start small → get your first customer → reinvest the profit → improve your service.
And because you have a family of 6, I would also recommend that you don’t put all your current income into starting the new business. Start small while maintaining your existing source of income until the new skill begins to generate consistently.
At 42, the goal isn’t to start life again. It’s to use what you already know, add a valuable skill, and create another source of income.
See lessWhat Bank Charges Can Cause Unexpected Deductions From an Account in Nigeria?
Not making withdrawals or transfers doesn't necessarily mean your account will have zero deductions. Banks can charge for certain account maintenance, card, SMS/alert, VAT, stamp duty, or other applicable services, depending on the type of account and the transactions or services attached to it. DigRead more
Not making withdrawals or transfers doesn’t necessarily mean your account will have zero deductions.
Banks can charge for certain account maintenance, card, SMS/alert, VAT, stamp duty, or other applicable services, depending on the type of account and the transactions or services attached to it. Digital banks may also have their own fees.
For example, imagine you have ₦50,000 in your account and you don’t make any transfer or withdrawal for a month. You might still notice a deduction because a fee was applied to your debit card, account service, or another subscribed service.
The important thing is that every deduction should have a clear description.
If I notice ₦500, ₦1,000 or ₦2,000 disappearing from my account, I wouldn’t just assume the bank is stealing my money. I would check the transaction history and ask the bank:
“What exactly is this charge for, and what is the applicable fee or tariff?”
If the charge is incorrect or I don’t recognise it, I would formally dispute it and request a reversal where appropriate.
Also, don’t leave an account open indefinitely if you no longer use it, especially if it has services or cards attached to it. Close or deactivate accounts you don’t need after settling any outstanding obligations.
So the lesson is: No withdrawals or transfers doesn’t always mean no bank charges. Know the fee structure attached to your account and regularly check your statement.
See lessCan I Still Claim a Deceased Relative’s Bank Account in Nigeria After 20 Years?
Yes, you can still potentially claim it. The fact that your loved one died in 2006 does not automatically mean the money is lost. For example, imagine your aunt died in 2006 and had ₦500,000 in a bank account. Nobody operated the account for many years, so the account eventually became dormant and tRead more
Yes, you can still potentially claim it. The fact that your loved one died in 2006 does not automatically mean the money is lost.
For example, imagine your aunt died in 2006 and had ₦500,000 in a bank account. Nobody operated the account for many years, so the account eventually became dormant and the money could have been transferred to the CBN’s Unclaimed Balances Trust Fund.
As her beneficiary, you can still start the process of establishing your entitlement.
The first thing I would do is contact the bank where she had the account and explain that the account holder died in 2006. Take whatever documents you have, such as:
• Her full name and old account details, if available
• Death certificate
• Your valid means of identification
• Documents showing your relationship to her
• Probate/Letters of Administration or other legal evidence showing who is entitled to administer or inherit her estate
If the money has already been transferred to the CBN’s Unclaimed Balances Trust Fund, the bank can help you begin the reclaim process. The CBN also provides a way to search for unclaimed balances.
One important point: being the next-of-kin does not necessarily mean you can simply walk into the bank and withdraw the money. You may need the appropriate legal documents proving your right to act for the deceased’s estate.
For example, if three siblings are the beneficiaries, the bank will not normally just give one sibling the entire ₦500,000 because that person says, “I am the eldest.” The bank will require proper evidence of who is legally entitled to the funds.
So after 20 years, don’t assume the money is gone. Start by tracing the account and establishing your legal entitlement. The CBN’s current guidelines state that beneficiaries can reclaim eligible unclaimed balances and that the right to reclaim is indefinite.
See lessCan One Person Withdraw Money From a Joint Account in Nigeria?
It depends on how the joint account was opened and the mandate given to the bank. For example, if two people, A and B, open a joint account with a “either to sign” mandate, either person may be able to withdraw money or give instructions without the other person's approval. If they use an “both to sRead more
It depends on how the joint account was opened and the mandate given to the bank.
For example, if two people, A and B, open a joint account with a “either to sign” mandate, either person may be able to withdraw money or give instructions without the other person’s approval.
If they use an “both to sign” mandate, then both people must authorize the withdrawal.
For example, imagine A and B have ₦1 million in a joint account.
If the account is “either to sign,” A may be able to withdraw the ₦1 million without B being physically present.
But if the account is “both to sign,” A cannot normally withdraw the money alone because B’s authorization is required.
So having access to the account does not automatically mean one person can withdraw alone. Check the account mandate and the bank’s terms.
If you’re dealing with a specific Nigerian bank, I would advise contacting the bank and asking them exactly what signing mandate applies to the joint account before making any withdrawal.
See less