Treasury Bills (T-Bills) are short-term loans you give to the Federal Government of Nigeria. Instead of paying periodic interest like a bond, they are sold at a discount and redeemed at their full face value when they mature. How Treasury Bills work Suppose you invest ₦100,000 in a 364-day TreasuryRead more
Treasury Bills (T-Bills) are short-term loans you give to the Federal Government of Nigeria. Instead of paying periodic interest like a bond, they are sold at a discount and redeemed at their full face value when they mature.
How Treasury Bills work
Suppose you invest ₦100,000 in a 364-day Treasury Bill with a discount rate that results in a return of 15%.
You do not pay ₦100,000 on the issue date. Instead, you pay about ₦85,000 (the exact amount depends on the discount rate and tenor).
On maturity, the government pays you the full face value of ₦100,000.
Your profit is the difference between what you paid and what you receive at maturity.
So your return is earned at the end of the investment period, not through regular interest payments.
Common tenors
The Central Bank of Nigeria usually issues Treasury Bills with three maturities:
91 days
182 days
364 days
Longer tenors generally offer higher yields, although this is not guaranteed.
How you make money
Your return comes from the difference between:
the purchase price (discounted amount), and
the face value paid at maturity.
Unlike many bonds, Treasury Bills do not pay monthly or quarterly interest.
What happens at maturity?
When the Treasury Bill matures, you typically have two choices:
Receive your money (principal plus the implied return).
Reinvest in a new Treasury Bill if your platform or broker offers that option.
Is it safe?
Treasury Bills are generally considered one of the lowest-risk investments in Nigeria because they are backed by the Federal Government. They are popular with investors who want to preserve capital while earning a relatively stable return.
Can you withdraw before maturity?
Treasury Bills are designed to be held until maturity. However, if you need your money earlier, you may be able to sell them on the secondary market through your broker. The sale price depends on prevailing market interest rates, so you could receive more or less than you expected if you sell before maturity.
Treasury Bills vs. Bond Funds
Since you’ve also invested in a Nigeria Bond Fund, here’s the key difference:
Treasury Bills
Bond Fund
Fixed maturity (91, 182, or 364 days)
No fixed maturity
Return is known when you invest (subject to purchase price)
Returns vary with the performance of the underlying bonds
Usually held to maturity
You can generally redeem your units at the fund’s prevailing value
Very low risk
Low to moderate risk, with unit value that can rise or fall
For the Nigeria Bond Fund on InvestNaija, the ₦104,000 you currently see is typically your current investment value (capital + accumulated gains), not usually a separate dividend balance waiting to be paid. Most bond mutual funds in Nigeria reinvest income into the fund, causing the unit price or vaRead more
For the Nigeria Bond Fund on InvestNaija, the ₦104,000 you currently see is typically your current investment value (capital + accumulated gains), not usually a separate dividend balance waiting to be paid. Most bond mutual funds in Nigeria reinvest income into the fund, causing the unit price or value of your holdings to grow over time, although some funds may have income-distribution options. The exact treatment depends on the specific bond fund offered by Chapel Hill Denham.
Why has ₦100,000 become only ₦104,000?
You invested on 4 November 2025 and by July 2026 it is about ₦104,000, a gain of roughly ₦4,000 (about 4% over the period). Bond fund returns are not fixed and can fluctuate with interest rates and bond prices. Bond funds do not guarantee a particular return.
Do they pay dividends?
For most Nigerian bond mutual funds:
Income is generated from bond coupon payments and interest.
The fund may either:
Reinvest the income into the fund (increasing your investment value), or
Distribute income periodically, depending on the fund structure.
If you have never received a separate cash payment since November 2025, it is likely that the gains are being reflected in your fund value rather than paid out as cash. You can confirm this by checking the fund fact sheet or contacting InvestNaija support.
How to withdraw (redeem) your Nigeria Bond Fund on InvestNaija
The usual process is:
Log in to your InvestNaija account.
Go to Investments or Portfolio.
Select the Nigeria Bond Fund.
Look for Redeem, Withdraw, or Sell Units.
Enter the amount you want to redeem (partial or full).
Confirm the transaction.
The redeemed amount is typically credited to your IN Wallet.
From the IN Wallet, initiate a withdrawal to your registered bank account. InvestNaija states that funding and withdrawals are carried out through the IN Wallet and withdrawal requests are initiated on the platform.
If you cannot find the redeem button
Some users find that certain investments do not show a redemption option in the app. In that case:
Contact InvestNaija support:
InvestNaija Support
Email: info@investnaija.com
Phone: 0700-INVEST-NAIJA
One thing to check
Can you tell me:
The exact name of the bond fund as shown in your InvestNaija portfolio?
Whether you are using the mobile app or the web platform?
With that information, I can give you the exact menu-by-menu steps to redeem the fund and estimate whether ₦104,000 is in line with the fund’s performance over that period.
The information you read is only partly correct. Here's how it works in the Nigerian capital market: CHN (Clearing House Number) is unique to each investor. You should normally have only one CHN throughout your lifetime. It serves as your unique investor ID. CSCS account number is linked to the brokRead more
The information you read is only partly correct.
Here’s how it works in the Nigerian capital market:
CHN (Clearing House Number) is unique to each investor. You should normally have only one CHN throughout your lifetime. It serves as your unique investor ID.
CSCS account number is linked to the brokerage relationship. If you open an account with another broker, they may open another CSCS account for you under the same CHN, depending on their onboarding process and CSCS requirements. This is why some investors have multiple CSCS accounts but a single CHN.
So, if you’ve told the new broker not to create a new CHN, that is generally the right instruction.
Regarding your existing CSCS number:
Some brokers can link your new brokerage account to your existing CSCS/CHN.
Others prefer to create a new CSCS account under your existing CHN and then use inter-member transfers when needed.
If a duplicate CHN is created by mistake, CSCS provides a process for CHN consolidation/merging.
Given what I know from our previous discussions, you’ve had issues before with multiple brokerage platforms and CHN/CSCS records. To avoid future dividend and transfer problems, I recommend that you:
Give the new broker your existing CHN.
Ask them to search and link your existing CSCS records before creating anything new.
Request written confirmation of the CHN and CSCS details they will use before your KYC is completed.
Since you're thinking long term, don't think of yourself as "helping a tailor." Think of yourselves as building a fashion company, where each person has a different role. From what you've described: Your friend contributes the technical skill (designing and sewing). You contribute business developmeRead more
Since you’re thinking long term, don’t think of yourself as “helping a tailor.” Think of yourselves as building a fashion company, where each person has a different role.
From what you’ve described:
Your friend contributes the technical skill (designing and sewing).
You contribute business development (strategy, management, customer acquisition, growth, partnerships).
Those are both valuable. Many successful businesses have exactly this kind of partnership.
Option 1: Become Co-founders (Recommended)
Instead of one person working for the other, create a fashion brand together.
For example:
Business Name: XYZ Fashion House
Your friend’s responsibilities
Designing clothes
Sewing and production
Quality control
Training future tailors
Managing production staff
Your responsibilities
Business strategy
Marketing and branding
Finding customers
Managing finances
Negotiating contracts
Managing social media
Building partnerships
Expanding the business
In this arrangement, neither person is “the boss.” You are both founders.
Decide Ownership Early
This is where many friendships fail.
Ask questions like:
Who owns the business?
What percentage belongs to each person?
How are profits shared?
What happens if one person leaves?
Who makes final decisions?
Ownership should reflect what each person contributes—not just cash.
For example (purely illustrative):
Friend: 60% (skill and production)
You: 40% (management and business growth)
Or 50–50 if you both agree your contributions are equal.
The exact split matters less than agreeing on it before the business grows.
Define Your Official Position
Instead of saying “I help the business,” give yourself a clear title.
Possible roles include:
Managing Director
Chief Operating Officer (COO)
Business Development Manager
Marketing Director
These titles clarify who is responsible for what.
How Should You Benefit?
You can benefit in several ways:
1. Profit sharing
At the end of each month or quarter, profits are divided according to ownership.
2. Salary
If the business grows enough, both founders can earn salaries for the work they do, while still receiving profits as owners.
3. Equity growth
As the business becomes more valuable, your ownership stake becomes more valuable too.
Separate Business Money from Personal Money
Open a business account when appropriate.
Every payment should go into the business account.
From there:
Pay business expenses.
Set aside money for growth.
Then distribute profits according to your agreement.
This prevents misunderstandings.
Put Everything in Writing
Even if you’re close friends.
A simple founders’ agreement should cover:
Business name
Ownership percentages
Roles and responsibilities
Profit-sharing
Decision-making process
How new investments are handled
What happens if someone wants to leave
How disputes will be resolved
This protects both of you and your friendship.
Think Bigger Than Sewing
Don’t build a business around one person’s sewing skills. Build a brand that can eventually operate beyond either of you.
A long-term vision could look like this:
Year 1: Two founders, sewing for clients.
Year 2: Hire additional tailors.
Year 3: Launch an online store and serve customers nationwide.
Year 4: Open a fashion academy.
Year 5: Supply corporate uniforms, school uniforms, and bridal collections.
Year 6+: Expand into multiple branches and potentially franchise the brand.
Eventually, your friend may spend less time sewing and more time leading production, while you focus on scaling the company.
Given your previous interest in entrepreneurship and business growth, this founder structure aligns well with your long-term goals.
My suggestion is to treat this as a startup from day one, not simply as “a tailor and a friend helping out.” Clear roles, agreed ownership, and written expectations will give you a much stronger foundation for growth.
Here’s a professional but practical founders’ agreement that can grow with your business. It isn’t a substitute for legal advice, but it provides a strong foundation and can later be reviewed by a lawyer.
FOUNDERS’ AGREEMENT
Between
Founder 1: ______________________________
Address: _________________________________
Phone/Email: _____________________________
AND
Founder 2: ______________________________
Address: _________________________________
Phone/Email: _____________________________
Date: ____ / ____ / ______
—
1. Purpose
This Agreement establishes the partnership between the founders for the creation, ownership, management, and growth of a fashion business. The founders agree to work together in good faith to build a profitable and sustainable company.
—
2. Business Name
The business shall operate under the name:
________________________________ Fashion House
or any other name agreed upon by both founders and duly registered with the Corporate Affairs Commission (CAC).
—
3. Vision
To build a reputable fashion brand recognised for quality craftsmanship, creativity, excellent customer service, and innovative business practices.
—
4. Mission
To design and produce high-quality native and corporate clothing while creating employment opportunities, training young designers, and expanding into national and international markets.
—
5. Ownership
The founders agree that ownership of the business shall be as follows:
Founder 1: ______ %
Founder 2: ______ %
Ownership percentages may only be changed with the written consent of both founders.
—
6. Capital Contributions
Founder 1
Will contribute:
– Fashion design skills
– Sewing and production
– Existing equipment (if any)
– Existing customer relationships
– Other contributions:
—
Founder 2
Will contribute:
– Business development
– Marketing and branding
– Customer acquisition
– Business management
– Strategic planning
– Other contributions:
—
Future financial contributions shall be documented and agreed upon before being made.
—
7. Roles and Responsibilities
Founder 1 (Creative Director/Head of Production)
Responsible for:
– Designing garments
– Sewing and production
– Quality control
– Managing production staff
– Fabric selection
– Product innovation
– Delivery timelines
—
Founder 2 (Managing Director/Business Development Lead)
Responsible for:
– Business strategy
– Customer acquisition
– Marketing
– Social media
– Partnerships
– Financial planning
– Business administration
– Growth opportunities
– Client relationship management
—
8. Decision-Making
Major decisions require the approval of both founders, including:
– Taking loans
– Purchasing expensive equipment
– Opening new branches
– Admitting new partners
– Selling company assets
– Changing ownership structure
– Registering trademarks
– Dissolving the business
Routine operational decisions may be made by the founder responsible for that area.
—
9. Profit Distribution
Profits shall only be shared after:
– Business expenses have been paid
– Staff salaries have been paid
– Taxes and statutory obligations have been settled
– An agreed percentage has been retained for business growth
Remaining profits shall be distributed according to ownership percentages unless both founders agree otherwise in writing.
—
10. Salaries
The founders understand that during the early stages, profits may be reinvested rather than paid out.
When financially feasible, both founders may receive salaries approved by mutual agreement.
Salary is compensation for work performed.
Profit distribution is based on ownership.
These are separate.
—
11. Business Bank Account
All business income shall be paid into the official business account.
No founder shall use business funds for personal expenses without the consent of the other founder.
Both founders agree not to disclose confidential information including:
– Customer lists
– Business strategies
– Pricing methods
– Supplier information
– Financial records
This obligation continues even after either founder leaves the business.
—
14. Conflict of Interest
Neither founder shall operate or actively participate in another fashion business that directly competes with this company without the written consent of the other founder.
—
15. New Partners or Investors
No new partner, shareholder, or investor shall be admitted without the written approval of both founders.
—
16. Intellectual Property
All designs, logos, branding materials, photographs, marketing content, and business systems created for the business belong to the business unless otherwise agreed in writing.
—
17. Exit of a Founder
If either founder wishes to leave:
1. At least 60 days’ written notice shall be given.
2. The remaining founder shall have the first option to purchase the departing founder’s ownership interest.
3. The value of the ownership shall be determined by mutual agreement or an independent professional if necessary.
—
18. Death or Permanent Incapacity
If a founder dies or becomes permanently unable to participate in the business, ownership shall be handled according to applicable law and any written agreement between the founders.
—
19. Dispute Resolution
The founders agree to attempt resolution through:
1. Discussion
2. Mediation
3. Arbitration
before commencing legal proceedings.
—
20. Amendments
This Agreement may only be amended in writing and signed by both founders.
—
21. Governing Law
This Agreement shall be governed by the laws of the Federal Republic of Nigeria.
—
22. Signatures
Founder 1
Name: ___________________________
Signature: _______________________
Date: ___________________________
—
Founder 2
Name: ___________________________
Signature: _______________________
Date: ___________________________
—
Witness
Name: ___________________________
Signature: _______________________
Date: ___________________________
Here’s a professional but practical founders’ agreement that can grow with your business. It isn’t a substitute for legal advice, but it provides a strong foundation and can later be reviewed by a lawyer.
Writing
FOUNDERS’ AGREEMENT
Between
Founder 1: ______________________________
Address: _________________________________
Phone/Email: _____________________________
AND
Founder 2: ______________________________
Address: _________________________________
Phone/Email: _____________________________
Date: ____ / ____ / ______
1. Purpose
This Agreement establishes the partnership between the founders for the creation, ownership, management, and growth of a fashion business. The founders agree to work together in good faith to build a profitable and sustainable company.
2. Business Name
The business shall operate under the name:
________________________________ Fashion House
or any other name agreed upon by both founders and duly registered with the Corporate Affairs Commission (CAC).
3. Vision
To build a reputable fashion brand recognised for quality craftsmanship, creativity, excellent customer service, and innovative business practices.
4. Mission
To design and produce high-quality native and corporate clothing while creating employment opportunities, training young designers, and expanding into national and international markets.
5. Ownership
The founders agree that ownership of the business shall be as follows:
Founder 1: ______ %
Founder 2: ______ %
Ownership percentages may only be changed with the written consent of both founders.
6. Capital Contributions
Founder 1
Will contribute:
Fashion design skills
Sewing and production
Existing equipment (if any)
Existing customer relationships
Other contributions:
Founder 2
Will contribute:
Business development
Marketing and branding
Customer acquisition
Business management
Strategic planning
Other contributions:
Future financial contributions shall be documented and agreed upon before being made.
7. Roles and Responsibilities
Founder 1 (Creative Director/Head of Production)
Responsible for:
Designing garments
Sewing and production
Quality control
Managing production staff
Fabric selection
Product innovation
Delivery timelines
Founder 2 (Managing Director/Business Development Lead)
Responsible for:
Business strategy
Customer acquisition
Marketing
Social media
Partnerships
Financial planning
Business administration
Growth opportunities
Client relationship management
8. Decision-Making
Major decisions require the approval of both founders, including:
Taking loans
Purchasing expensive equipment
Opening new branches
Admitting new partners
Selling company assets
Changing ownership structure
Registering trademarks
Dissolving the business
Routine operational decisions may be made by the founder responsible for that area.
9. Profit Distribution
Profits shall only be shared after:
Business expenses have been paid
Staff salaries have been paid
Taxes and statutory obligations have been settled
An agreed percentage has been retained for business growth
Remaining profits shall be distributed according to ownership percentages unless both founders agree otherwise in writing.
10. Salaries
The founders understand that during the early stages, profits may be reinvested rather than paid out.
When financially feasible, both founders may receive salaries approved by mutual agreement.
Salary is compensation for work performed.
Profit distribution is based on ownership.
These are separate.
11. Business Bank Account
All business income shall be paid into the official business account.
No founder shall use business funds for personal expenses without the consent of the other founder.
12. Record Keeping
The business shall maintain proper records of:
Income
Expenses
Customer orders
Inventory
Assets
Debts
Profit distributions
Both founders shall have access to these records.
13. Confidentiality
Both founders agree not to disclose confidential information including:
Customer lists
Business strategies
Pricing methods
Supplier information
Financial records
This obligation continues even after either founder leaves the business.
14. Conflict of Interest
Neither founder shall operate or actively participate in another fashion business that directly competes with this company without the written consent of the other founder.
15. New Partners or Investors
No new partner, shareholder, or investor shall be admitted without the written approval of both founders.
16. Intellectual Property
All designs, logos, branding materials, photographs, marketing content, and business systems created for the business belong to the business unless otherwise agreed in writing.
17. Exit of a Founder
If either founder wishes to leave:
At least 60 days’ written notice shall be given.
The remaining founder shall have the first option to purchase the departing founder’s ownership interest.
The value of the ownership shall be determined by mutual agreement or an independent professional if necessary.
18. Death or Permanent Incapacity
If a founder dies or becomes permanently unable to participate in the business, ownership shall be handled according to applicable law and any written agreement between the founders.
19. Dispute Resolution
The founders agree to attempt resolution through:
Discussion
Mediation
Arbitration
before commencing legal proceedings.
20. Amendments
This Agreement may only be amended in writing and signed by both founders.
21. Governing Law
This Agreement shall be governed by the laws of the Federal Republic of Nigeria.
22. Signatures
Founder 1
Name: ___________________________
Signature: _______________________
Date: ___________________________
Founder 2
Name: ___________________________
Signature: _______________________
Date: ___________________________
Witness
Name: ___________________________
Signature: _______________________
Date: ___________________________
A few additional recommendations will make this agreement even stronger:
Register the business with the Corporate Affairs Commission (CAC) as soon as you’re ready. You can start as a Business Name and later convert to a Limited Liability Company if you grow.
Open a dedicated business bank account and avoid mixing personal and business funds.
Hold a founders’ meeting at least once a month to review finances, customer feedback, and growth plans, and keep brief written minutes.
Consider adding a vesting clause if you’re worried about one founder leaving early. For example, ownership could be earned over four years, so someone who leaves after a few months doesn’t automatically keep their full equity.
Given that you’re both university students, this structure is simple enough to use now while still being robust enough to support a growing fashion brand. If your ambition is to build a company rather than just a tailoring shop, it provides a solid starting point.
Yes. Money Market Mutual Funds (MMMFs) can be denominated in different currencies, depending on the fund. The most common currencies are: Nigerian Naira (₦) – Most MMMFs in Nigeria are naira-denominated. US Dollar (USD) – Some fund managers offer dollar money market funds. Other countries may also hRead more
Yes. Money Market Mutual Funds (MMMFs) can be denominated in different currencies, depending on the fund.
The most common currencies are:
Nigerian Naira (₦) – Most MMMFs in Nigeria are naira-denominated.
US Dollar (USD) – Some fund managers offer dollar money market funds.
Other countries may also have funds in Euros (EUR) or British Pounds (GBP).
Can you invest in a dollar MMMF?
Yes. If a fund manager offers a USD Money Market Fund, you can invest in US dollars. These funds typically invest in short-term dollar-denominated instruments such as:
Dollar fixed deposits
Dollar commercial paper
Dollar treasury instruments
Other high-quality short-term debt securities
Who is a dollar MMMF suitable for?
A USD MMMF may be a good choice if you:
Earn income in US dollars.
Want to preserve your savings in dollars.
Are saving for expenses that will be paid in dollars (such as overseas education or international travel).
Want to reduce exposure to depreciation of the naira.
Are there dollar MMMFs in Nigeria?
Yes. Several SEC-licensed Nigerian asset managers offer USD-denominated money market or fixed-income funds. Examples include:
Stanbic IBTC Asset Management Limited
Chapel Hill Denham Asset Management Limited
Meristem Wealth Management Limited
CardinalStone Asset Management Limited
Each fund has its own minimum investment amount, fees, and expected yield.
Which is better: Naira or Dollar MMMF?
It depends on your goals:
Choose a Naira MMMF if your income and future expenses are mainly in naira and you want easy access to your money.
Choose a Dollar MMMF if you already have dollars or you’re building savings for future dollar-denominated expenses.
Some investors hold both—a naira MMMF for liquidity and day-to-day financial goals, and a dollar MMMF as part of a diversified portfolio and a hedge against exchange-rate risk.
If you're looking for one platform where you can invest in Money Market Mutual Funds (MMMFs), Nigerian stocks, and government bonds, there are a few reputable options in Nigeria. 1. InvestNaija by Chapel Hill Denham (My top recommendation) This is one of the few platforms that brings together: NigerRead more
If you’re looking for one platform where you can invest in Money Market Mutual Funds (MMMFs), Nigerian stocks, and government bonds, there are a few reputable options in Nigeria.
1. InvestNaija by Chapel Hill Denham (My top recommendation)
This is one of the few platforms that brings together:
Nigerian stocks
Money Market Mutual Funds
Equity Funds
Bond Funds
FGN Savings Bonds
Treasury Bills (when available)
Chapel Hill Denham is licensed by the Nigerian SEC as both a fund manager and broker/dealer, giving you access to multiple asset classes from one ecosystem.
Best for: Long-term investors who want a single platform.
2. Afrinvestor
Afrinvest offers:
Nigerian stocks
Treasury Bills
FGN Savings Bonds
Commercial Papers
Mutual funds through its investment products
It is another well-established SEC-licensed investment firm.
3. Meristem Securities Limited (MeriTrade)
A strong choice if your main interest is:
Nigerian stocks
Fixed-income investments
Research and market analysis
Which one should you choose?
If your goal is to gradually build wealth by investing in:
✅ Money Market Mutual Funds
✅ Nigerian stocks
✅ Government bonds
then InvestNaija by Chapel Hill Denham is one of the most comprehensive options because it combines these investment products in a single platform and is backed by a long-established investment firm.
Before you invest
Regardless of the platform you choose:
Confirm it is licensed by the Securities and Exchange Commission (SEC) Nigeria.
Ensure your investments are linked to your CSCS account where applicable (for listed shares).
Enable two-factor authentication and keep your account details secure.
Read the fees, minimum investment amounts, and withdrawal terms before investing.
For someone starting with a mix of MMMFs, stocks, and bonds, a simple allocation could be:
40% Money Market Mutual Fund (for liquidity and stability)
40% Nigerian stocks (for long-term growth)
20% FGN Bonds or Treasury Bills (for income and diversification)
This provides a balance between growth, income, and capital preservation while reducing reliance on a single asset class.
With ₦1 million, you have enough capital to start a real business in Abuja, but your choice should depend on the specific Area Council (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji), the customers there, and your skills. Here are businesses I believe offer good potential: Mini supermarket/provisionRead more
With ₦1 million, you have enough capital to start a real business in Abuja, but your choice should depend on the specific Area Council (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji), the customers there, and your skills.
Here are businesses I believe offer good potential:
Mini supermarket/provision store
Best in growing residential areas.
Sell everyday essentials such as food items, toiletries, beverages and household products.
Budget: ₦700,000–₦1,000,000.
Food business (restaurant or takeaway)
Areas with offices, schools and markets can provide regular customers.
Start with a simple menu and expand as demand grows.
Be sure to obtain any required local licences before operating.
POS and agency banking
A good option in locations where banking services are limited.
You can later add services such as bill payments and airtime sales.
Water distribution or sachet water retail
Daily demand makes this a steady business if you secure reliable suppliers.
Agribusiness
In Area Councils such as Kuje, Kwali and Gwagwalada, poultry, fish farming or vegetable production may be viable due to the availability of land.
ICT and printing centre
Near universities, colleges or government offices, services such as printing, photocopying, typing, online registrations and passport photographs are often in demand.
My recommendation
If I had ₦1 million and wanted a business that could generate steady cash flow, I would consider:
₦700,000 for a well-stocked provision store.
₦200,000 as working capital to replenish stock.
₦100,000 reserved for registration, shop setup and unexpected expenses.
Avoid spending your entire capital at the beginning. Keeping some cash in reserve helps you restock quickly and manage unforeseen costs.
Abuja also has entrepreneurship programmes that provide training, mentorship and, at times, funding opportunities for eligible small businesses.
To give you a more tailored recommendation, tell me:
Which Area Council are you in? (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji)
Do you want a trading business, a service business, or farming?
Will you run it yourself or employ someone?
If your sell order for BUA Cement Plc keeps failing on Bamboo, it does not necessarily mean there is a problem with the company or your shares. There are several possible reasons: No buyer at your asking price. If you're using a limit order and your selling price is higher than what buyers are williRead more
If your sell order for BUA Cement Plc keeps failing on Bamboo, it does not necessarily mean there is a problem with the company or your shares. There are several possible reasons:
No buyer at your asking price.
If you’re using a limit order and your selling price is higher than what buyers are willing to pay, the order may remain unfilled or eventually fail.
Insufficient market liquidity.
Sometimes there are very few buyers or sellers in the market. Even good companies can experience periods of low trading activity.
Price movement.
If the market price changes significantly while your order is being processed, the order may fail, especially if the price moves outside your limit.
Trading restrictions or market rules.
The Nigerian Exchange has daily price movement limits. If a stock reaches its upper or lower price limit, trading activity can become restricted.
Technical issues with Bamboo.
App or server problems can cause orders to fail even when there is enough market activity.
Corporate actions.
During events such as a share reconstruction, rights issue, or other corporate action, trading may be temporarily affected.
What you should do
Check whether your order was a Market Order or a Limit Order.
Review the current bid and ask prices for BUA Cement.
Cancel the failed order and submit a new one if appropriate.
If the problem continues for more than one trading day, contact Bamboo customer support and ask them to check the order status.
A question for you
When you say the sale “keeps failing,” do you mean:
the order is rejected immediately,
it stays on “Executing” for a long time and then fails, or
it is cancelled automatically after some time?
Also, approximately how many BUA Cement shares are you trying to sell, and are you using a Market Order or a Limit Order? That will help narrow down the likely cause.
Before you invest in stocks in Nigeria, there are several fundamental concepts you should understand. Learning these will help you make informed decisions instead of relying on rumours or social media tips. 1. What a stock is A stock (or share) represents partial ownership of a company. If you buy sRead more
Before you invest in stocks in Nigeria, there are several fundamental concepts you should understand. Learning these will help you make informed decisions instead of relying on rumours or social media tips.
1. What a stock is
A stock (or share) represents partial ownership of a company. If you buy shares in GTCO Plc, you become one of its shareholders and may benefit if the company grows.
2. Why people invest in stocks
There are two main ways to make money:
Capital appreciation – the share price increases over time.
Dividends – part of the company’s profits is paid to shareholders.
Many successful long-term investors earn from both.
3. Risk and return
Stocks can rise or fall in value.
Higher potential returns usually come with higher risk. Never invest money you’ll need for school fees, rent, or emergencies.
4. Long-term investing beats speculation
The Nigerian stock market can be volatile in the short term. Investing for 5–10 years or longer generally gives your investments more time to grow than trying to profit from short-term price movements.
5. How to evaluate a company
Before buying a stock, ask:
Is the company profitable?
Does it have manageable debt?
Has it consistently paid dividends?
Is its revenue and profit growing?
Does it have competent management?
6. Diversification
Don’t invest all your money in one company.
Instead of buying only one stock, spread your investments across different sectors, for example:
Banking
Telecommunications
Consumer goods
Industrial goods
Energy
This reduces the impact if one company performs poorly.
7. Understand valuation
A good company is not always a good investment if its shares are overpriced.
Learn basic measures such as:
Price-to-Earnings (P/E) ratio
Earnings Per Share (EPS)
Dividend Yield
Book Value
Market Capitalisation
These help you judge whether a share is reasonably priced.
8. Don’t follow rumours
Many people buy shares because someone says, “This stock will double next month.”
Always base your decisions on company fundamentals and your own investment plan.
9. Understand costs
Every trade may involve:
Brokerage fees
NGX transaction charges
CSCS charges
Applicable taxes or levies
These costs affect your overall return, especially if you trade frequently.
10. Keep learning
Successful investors continue learning about:
Financial statements
Annual reports
Economic trends
Interest rates
Inflation
Company announcements
The more you understand these topics, the better equipped you’ll be to make sound investment decisions.
A beginner’s approach
If you’re just starting out:
Build an emergency fund.
Open an account with a licensed stockbroker.
Invest regularly, even if it’s a small amount each month.
Focus on quality companies with strong businesses.
Reinvest your dividends whenever possible.
Review your portfolio periodically, but avoid reacting to every daily price movement.
Mastering these fundamentals is more valuable than trying to predict which stock will be the next big winner. A disciplined, long-term approach is often the key to building wealth in the stock market.
There isn't a single "best" app for everyone. The right choice depends on whether you value low fees, ease of use, research tools, or access to other investment products. Here are some of the leading options for investing in Nigerian stocks: App Best for Pros Things to consider Chapel Hill Denham (IRead more
There isn’t a single “best” app for everyone. The right choice depends on whether you value low fees, ease of use, research tools, or access to other investment products.
Here are some of the leading options for investing in Nigerian stocks:
App
Best for
Pros
Things to consider
Chapel Hill Denham (InvestNaija)
Long-term investors
Nigerian stocks, mutual funds, Treasury Bills, FGN Bonds
Some users report occasional technical issues.
Meristem Securities Limited (MeriTrade)
Active stock investors
Good research, direct NGX trading
Interface has a learning curve.
Afrinvest Securities Limited (Afrinvestor)
Investors wanting research
Strong market analysis and NGX access
Best suited to investors who use research.
Stanbic IBTC Stockbrokers Limited
Existing Stanbic customers
Integration with other Stanbic investment products
Mainly focused on Stanbic ecosystem.
Coronation Securities Limited
Long-term investors
Established brokerage with NGX access
May not be as beginner-focused as some apps.
Bamboo
Nigerian and U.S. stocks
Easy-to-use interface, access to multiple markets
Nigerian stock offering may differ from dedicated local brokers.
Which one would I choose?
For beginners: InvestNaija or Bamboo because their interfaces are generally easy to navigate.
For serious Nigerian stock investing: MeriTrade or Afrinvestor because of their research and trading capabilities.
For a diversified investor: InvestNaija, since it combines Nigerian stocks with mutual funds and government securities.
My recommendation
Since you’ve already been using InvestNaija and have investments there, I wouldn’t recommend moving solely because of occasional app issues. Every investment platform can experience temporary outages.
Instead, you could:
Keep your long-term portfolio on InvestNaija.
Open a secondary brokerage account (such as MeriTrade or Afrinvestor) as a backup, so you always have another platform available if one has technical problems.
This gives you flexibility without having to transfer your existing holdings.
If your goal is building wealth over the next 10–20 years, I can also recommend the 10 best Nigerian dividend-paying stocks to buy and hold through any of these platforms.
How do Treasury Bills work in Nigeria?
Treasury Bills (T-Bills) are short-term loans you give to the Federal Government of Nigeria. Instead of paying periodic interest like a bond, they are sold at a discount and redeemed at their full face value when they mature. How Treasury Bills work Suppose you invest ₦100,000 in a 364-day TreasuryRead more
Treasury Bills (T-Bills) are short-term loans you give to the Federal Government of Nigeria. Instead of paying periodic interest like a bond, they are sold at a discount and redeemed at their full face value when they mature.
See lessHow Treasury Bills work
Suppose you invest ₦100,000 in a 364-day Treasury Bill with a discount rate that results in a return of 15%.
You do not pay ₦100,000 on the issue date. Instead, you pay about ₦85,000 (the exact amount depends on the discount rate and tenor).
On maturity, the government pays you the full face value of ₦100,000.
Your profit is the difference between what you paid and what you receive at maturity.
So your return is earned at the end of the investment period, not through regular interest payments.
Common tenors
The Central Bank of Nigeria usually issues Treasury Bills with three maturities:
91 days
182 days
364 days
Longer tenors generally offer higher yields, although this is not guaranteed.
How you make money
Your return comes from the difference between:
the purchase price (discounted amount), and
the face value paid at maturity.
Unlike many bonds, Treasury Bills do not pay monthly or quarterly interest.
What happens at maturity?
When the Treasury Bill matures, you typically have two choices:
Receive your money (principal plus the implied return).
Reinvest in a new Treasury Bill if your platform or broker offers that option.
Is it safe?
Treasury Bills are generally considered one of the lowest-risk investments in Nigeria because they are backed by the Federal Government. They are popular with investors who want to preserve capital while earning a relatively stable return.
Can you withdraw before maturity?
Treasury Bills are designed to be held until maturity. However, if you need your money earlier, you may be able to sell them on the secondary market through your broker. The sale price depends on prevailing market interest rates, so you could receive more or less than you expected if you sell before maturity.
Treasury Bills vs. Bond Funds
Since you’ve also invested in a Nigeria Bond Fund, here’s the key difference:
Treasury Bills
Bond Fund
Fixed maturity (91, 182, or 364 days)
No fixed maturity
Return is known when you invest (subject to purchase price)
Returns vary with the performance of the underlying bonds
Usually held to maturity
You can generally redeem your units at the fund’s prevailing value
Very low risk
Low to moderate risk, with unit value that can rise or fall
How Do I Withdraw Money From the Nigeria Bond Fund on InvestNaija?
For the Nigeria Bond Fund on InvestNaija, the ₦104,000 you currently see is typically your current investment value (capital + accumulated gains), not usually a separate dividend balance waiting to be paid. Most bond mutual funds in Nigeria reinvest income into the fund, causing the unit price or vaRead more
For the Nigeria Bond Fund on InvestNaija, the ₦104,000 you currently see is typically your current investment value (capital + accumulated gains), not usually a separate dividend balance waiting to be paid. Most bond mutual funds in Nigeria reinvest income into the fund, causing the unit price or value of your holdings to grow over time, although some funds may have income-distribution options. The exact treatment depends on the specific bond fund offered by Chapel Hill Denham.
See lessWhy has ₦100,000 become only ₦104,000?
You invested on 4 November 2025 and by July 2026 it is about ₦104,000, a gain of roughly ₦4,000 (about 4% over the period). Bond fund returns are not fixed and can fluctuate with interest rates and bond prices. Bond funds do not guarantee a particular return.
Do they pay dividends?
For most Nigerian bond mutual funds:
Income is generated from bond coupon payments and interest.
The fund may either:
Reinvest the income into the fund (increasing your investment value), or
Distribute income periodically, depending on the fund structure.
If you have never received a separate cash payment since November 2025, it is likely that the gains are being reflected in your fund value rather than paid out as cash. You can confirm this by checking the fund fact sheet or contacting InvestNaija support.
How to withdraw (redeem) your Nigeria Bond Fund on InvestNaija
The usual process is:
Log in to your InvestNaija account.
Go to Investments or Portfolio.
Select the Nigeria Bond Fund.
Look for Redeem, Withdraw, or Sell Units.
Enter the amount you want to redeem (partial or full).
Confirm the transaction.
The redeemed amount is typically credited to your IN Wallet.
From the IN Wallet, initiate a withdrawal to your registered bank account. InvestNaija states that funding and withdrawals are carried out through the IN Wallet and withdrawal requests are initiated on the platform.
If you cannot find the redeem button
Some users find that certain investments do not show a redemption option in the app. In that case:
Contact InvestNaija support:
InvestNaija Support
Email: info@investnaija.com
Phone: 0700-INVEST-NAIJA
One thing to check
Can you tell me:
The exact name of the bond fund as shown in your InvestNaija portfolio?
Whether you are using the mobile app or the web platform?
With that information, I can give you the exact menu-by-menu steps to redeem the fund and estimate whether ₦104,000 is in line with the fund’s performance over that period.
Can I Use the Same CSCS and CHN Number When Opening a Second Brokerage Account in Nigeria?
The information you read is only partly correct. Here's how it works in the Nigerian capital market: CHN (Clearing House Number) is unique to each investor. You should normally have only one CHN throughout your lifetime. It serves as your unique investor ID. CSCS account number is linked to the brokRead more
The information you read is only partly correct.
See lessHere’s how it works in the Nigerian capital market:
CHN (Clearing House Number) is unique to each investor. You should normally have only one CHN throughout your lifetime. It serves as your unique investor ID.
CSCS account number is linked to the brokerage relationship. If you open an account with another broker, they may open another CSCS account for you under the same CHN, depending on their onboarding process and CSCS requirements. This is why some investors have multiple CSCS accounts but a single CHN.
So, if you’ve told the new broker not to create a new CHN, that is generally the right instruction.
Regarding your existing CSCS number:
Some brokers can link your new brokerage account to your existing CSCS/CHN.
Others prefer to create a new CSCS account under your existing CHN and then use inter-member transfers when needed.
If a duplicate CHN is created by mistake, CSCS provides a process for CHN consolidation/merging.
Given what I know from our previous discussions, you’ve had issues before with multiple brokerage platforms and CHN/CSCS records. To avoid future dividend and transfer problems, I recommend that you:
Give the new broker your existing CHN.
Ask them to search and link your existing CSCS records before creating anything new.
Request written confirmation of the CHN and CSCS details they will use before your KYC is completed.
How Can University Students Structure a Business Partnership in Nigeria?
Since you're thinking long term, don't think of yourself as "helping a tailor." Think of yourselves as building a fashion company, where each person has a different role. From what you've described: Your friend contributes the technical skill (designing and sewing). You contribute business developmeRead more
Since you’re thinking long term, don’t think of yourself as “helping a tailor.” Think of yourselves as building a fashion company, where each person has a different role.
From what you’ve described:
Your friend contributes the technical skill (designing and sewing).
You contribute business development (strategy, management, customer acquisition, growth, partnerships).
Those are both valuable. Many successful businesses have exactly this kind of partnership.
Option 1: Become Co-founders (Recommended)
Instead of one person working for the other, create a fashion brand together.
For example:
Business Name: XYZ Fashion House
Your friend’s responsibilities
Designing clothes
Sewing and production
Quality control
Training future tailors
Managing production staff
Your responsibilities
Business strategy
Marketing and branding
Finding customers
Managing finances
Negotiating contracts
Managing social media
Building partnerships
Expanding the business
In this arrangement, neither person is “the boss.” You are both founders.
Decide Ownership Early
This is where many friendships fail.
Ask questions like:
Who owns the business?
What percentage belongs to each person?
How are profits shared?
What happens if one person leaves?
Who makes final decisions?
Ownership should reflect what each person contributes—not just cash.
For example (purely illustrative):
Friend: 60% (skill and production)
You: 40% (management and business growth)
Or 50–50 if you both agree your contributions are equal.
The exact split matters less than agreeing on it before the business grows.
Define Your Official Position
Instead of saying “I help the business,” give yourself a clear title.
Possible roles include:
Managing Director
Chief Operating Officer (COO)
Business Development Manager
Marketing Director
These titles clarify who is responsible for what.
How Should You Benefit?
You can benefit in several ways:
1. Profit sharing
At the end of each month or quarter, profits are divided according to ownership.
2. Salary
If the business grows enough, both founders can earn salaries for the work they do, while still receiving profits as owners.
3. Equity growth
As the business becomes more valuable, your ownership stake becomes more valuable too.
Separate Business Money from Personal Money
Open a business account when appropriate.
Every payment should go into the business account.
From there:
Pay business expenses.
Set aside money for growth.
Then distribute profits according to your agreement.
This prevents misunderstandings.
Put Everything in Writing
Even if you’re close friends.
A simple founders’ agreement should cover:
Business name
Ownership percentages
Roles and responsibilities
Profit-sharing
Decision-making process
How new investments are handled
What happens if someone wants to leave
How disputes will be resolved
This protects both of you and your friendship.
Think Bigger Than Sewing
Don’t build a business around one person’s sewing skills. Build a brand that can eventually operate beyond either of you.
A long-term vision could look like this:
Year 1: Two founders, sewing for clients.
Year 2: Hire additional tailors.
Year 3: Launch an online store and serve customers nationwide.
Year 4: Open a fashion academy.
Year 5: Supply corporate uniforms, school uniforms, and bridal collections.
Year 6+: Expand into multiple branches and potentially franchise the brand.
Eventually, your friend may spend less time sewing and more time leading production, while you focus on scaling the company.
Given your previous interest in entrepreneurship and business growth, this founder structure aligns well with your long-term goals.
My suggestion is to treat this as a startup from day one, not simply as “a tailor and a friend helping out.” Clear roles, agreed ownership, and written expectations will give you a much stronger foundation for growth.
Here’s a professional but practical founders’ agreement that can grow with your business. It isn’t a substitute for legal advice, but it provides a strong foundation and can later be reviewed by a lawyer.
FOUNDERS’ AGREEMENT
Between
Founder 1: ______________________________
Address: _________________________________
Phone/Email: _____________________________
AND
Founder 2: ______________________________
Address: _________________________________
Phone/Email: _____________________________
Date: ____ / ____ / ______
—
1. Purpose
This Agreement establishes the partnership between the founders for the creation, ownership, management, and growth of a fashion business. The founders agree to work together in good faith to build a profitable and sustainable company.
—
2. Business Name
The business shall operate under the name:
________________________________ Fashion House
or any other name agreed upon by both founders and duly registered with the Corporate Affairs Commission (CAC).
—
3. Vision
To build a reputable fashion brand recognised for quality craftsmanship, creativity, excellent customer service, and innovative business practices.
—
4. Mission
To design and produce high-quality native and corporate clothing while creating employment opportunities, training young designers, and expanding into national and international markets.
—
5. Ownership
The founders agree that ownership of the business shall be as follows:
Founder 1: ______ %
Founder 2: ______ %
Ownership percentages may only be changed with the written consent of both founders.
—
6. Capital Contributions
Founder 1
Will contribute:
– Fashion design skills
– Sewing and production
– Existing equipment (if any)
– Existing customer relationships
– Other contributions:
—
Founder 2
Will contribute:
– Business development
– Marketing and branding
– Customer acquisition
– Business management
– Strategic planning
– Other contributions:
—
Future financial contributions shall be documented and agreed upon before being made.
—
7. Roles and Responsibilities
Founder 1 (Creative Director/Head of Production)
Responsible for:
– Designing garments
– Sewing and production
– Quality control
– Managing production staff
– Fabric selection
– Product innovation
– Delivery timelines
—
Founder 2 (Managing Director/Business Development Lead)
Responsible for:
– Business strategy
– Customer acquisition
– Marketing
– Social media
– Partnerships
– Financial planning
– Business administration
– Growth opportunities
– Client relationship management
—
8. Decision-Making
Major decisions require the approval of both founders, including:
– Taking loans
– Purchasing expensive equipment
– Opening new branches
– Admitting new partners
– Selling company assets
– Changing ownership structure
– Registering trademarks
– Dissolving the business
Routine operational decisions may be made by the founder responsible for that area.
—
9. Profit Distribution
Profits shall only be shared after:
– Business expenses have been paid
– Staff salaries have been paid
– Taxes and statutory obligations have been settled
– An agreed percentage has been retained for business growth
Remaining profits shall be distributed according to ownership percentages unless both founders agree otherwise in writing.
—
10. Salaries
The founders understand that during the early stages, profits may be reinvested rather than paid out.
When financially feasible, both founders may receive salaries approved by mutual agreement.
Salary is compensation for work performed.
Profit distribution is based on ownership.
These are separate.
—
11. Business Bank Account
All business income shall be paid into the official business account.
No founder shall use business funds for personal expenses without the consent of the other founder.
—
12. Record Keeping
The business shall maintain proper records of:
– Income
– Expenses
– Customer orders
– Inventory
– Assets
– Debts
– Profit distributions
Both founders shall have access to these records.
—
13. Confidentiality
Both founders agree not to disclose confidential information including:
– Customer lists
– Business strategies
– Pricing methods
– Supplier information
– Financial records
This obligation continues even after either founder leaves the business.
—
14. Conflict of Interest
Neither founder shall operate or actively participate in another fashion business that directly competes with this company without the written consent of the other founder.
—
15. New Partners or Investors
No new partner, shareholder, or investor shall be admitted without the written approval of both founders.
—
16. Intellectual Property
All designs, logos, branding materials, photographs, marketing content, and business systems created for the business belong to the business unless otherwise agreed in writing.
—
17. Exit of a Founder
If either founder wishes to leave:
1. At least 60 days’ written notice shall be given.
2. The remaining founder shall have the first option to purchase the departing founder’s ownership interest.
3. The value of the ownership shall be determined by mutual agreement or an independent professional if necessary.
—
18. Death or Permanent Incapacity
If a founder dies or becomes permanently unable to participate in the business, ownership shall be handled according to applicable law and any written agreement between the founders.
—
19. Dispute Resolution
The founders agree to attempt resolution through:
1. Discussion
2. Mediation
3. Arbitration
before commencing legal proceedings.
—
20. Amendments
This Agreement may only be amended in writing and signed by both founders.
—
21. Governing Law
This Agreement shall be governed by the laws of the Federal Republic of Nigeria.
—
22. Signatures
Founder 1
Name: ___________________________
Signature: _______________________
Date: ___________________________
—
Founder 2
Name: ___________________________
Signature: _______________________
Date: ___________________________
—
Witness
Name: ___________________________
Signature: _______________________
Date: ___________________________
Here’s a professional but practical founders’ agreement that can grow with your business. It isn’t a substitute for legal advice, but it provides a strong foundation and can later be reviewed by a lawyer.
See lessWriting
FOUNDERS’ AGREEMENT
Between
Founder 1: ______________________________
Address: _________________________________
Phone/Email: _____________________________
AND
Founder 2: ______________________________
Address: _________________________________
Phone/Email: _____________________________
Date: ____ / ____ / ______
1. Purpose
This Agreement establishes the partnership between the founders for the creation, ownership, management, and growth of a fashion business. The founders agree to work together in good faith to build a profitable and sustainable company.
2. Business Name
The business shall operate under the name:
________________________________ Fashion House
or any other name agreed upon by both founders and duly registered with the Corporate Affairs Commission (CAC).
3. Vision
To build a reputable fashion brand recognised for quality craftsmanship, creativity, excellent customer service, and innovative business practices.
4. Mission
To design and produce high-quality native and corporate clothing while creating employment opportunities, training young designers, and expanding into national and international markets.
5. Ownership
The founders agree that ownership of the business shall be as follows:
Founder 1: ______ %
Founder 2: ______ %
Ownership percentages may only be changed with the written consent of both founders.
6. Capital Contributions
Founder 1
Will contribute:
Fashion design skills
Sewing and production
Existing equipment (if any)
Existing customer relationships
Other contributions:
Founder 2
Will contribute:
Business development
Marketing and branding
Customer acquisition
Business management
Strategic planning
Other contributions:
Future financial contributions shall be documented and agreed upon before being made.
7. Roles and Responsibilities
Founder 1 (Creative Director/Head of Production)
Responsible for:
Designing garments
Sewing and production
Quality control
Managing production staff
Fabric selection
Product innovation
Delivery timelines
Founder 2 (Managing Director/Business Development Lead)
Responsible for:
Business strategy
Customer acquisition
Marketing
Social media
Partnerships
Financial planning
Business administration
Growth opportunities
Client relationship management
8. Decision-Making
Major decisions require the approval of both founders, including:
Taking loans
Purchasing expensive equipment
Opening new branches
Admitting new partners
Selling company assets
Changing ownership structure
Registering trademarks
Dissolving the business
Routine operational decisions may be made by the founder responsible for that area.
9. Profit Distribution
Profits shall only be shared after:
Business expenses have been paid
Staff salaries have been paid
Taxes and statutory obligations have been settled
An agreed percentage has been retained for business growth
Remaining profits shall be distributed according to ownership percentages unless both founders agree otherwise in writing.
10. Salaries
The founders understand that during the early stages, profits may be reinvested rather than paid out.
When financially feasible, both founders may receive salaries approved by mutual agreement.
Salary is compensation for work performed.
Profit distribution is based on ownership.
These are separate.
11. Business Bank Account
All business income shall be paid into the official business account.
No founder shall use business funds for personal expenses without the consent of the other founder.
12. Record Keeping
The business shall maintain proper records of:
Income
Expenses
Customer orders
Inventory
Assets
Debts
Profit distributions
Both founders shall have access to these records.
13. Confidentiality
Both founders agree not to disclose confidential information including:
Customer lists
Business strategies
Pricing methods
Supplier information
Financial records
This obligation continues even after either founder leaves the business.
14. Conflict of Interest
Neither founder shall operate or actively participate in another fashion business that directly competes with this company without the written consent of the other founder.
15. New Partners or Investors
No new partner, shareholder, or investor shall be admitted without the written approval of both founders.
16. Intellectual Property
All designs, logos, branding materials, photographs, marketing content, and business systems created for the business belong to the business unless otherwise agreed in writing.
17. Exit of a Founder
If either founder wishes to leave:
At least 60 days’ written notice shall be given.
The remaining founder shall have the first option to purchase the departing founder’s ownership interest.
The value of the ownership shall be determined by mutual agreement or an independent professional if necessary.
18. Death or Permanent Incapacity
If a founder dies or becomes permanently unable to participate in the business, ownership shall be handled according to applicable law and any written agreement between the founders.
19. Dispute Resolution
The founders agree to attempt resolution through:
Discussion
Mediation
Arbitration
before commencing legal proceedings.
20. Amendments
This Agreement may only be amended in writing and signed by both founders.
21. Governing Law
This Agreement shall be governed by the laws of the Federal Republic of Nigeria.
22. Signatures
Founder 1
Name: ___________________________
Signature: _______________________
Date: ___________________________
Founder 2
Name: ___________________________
Signature: _______________________
Date: ___________________________
Witness
Name: ___________________________
Signature: _______________________
Date: ___________________________
A few additional recommendations will make this agreement even stronger:
Register the business with the Corporate Affairs Commission (CAC) as soon as you’re ready. You can start as a Business Name and later convert to a Limited Liability Company if you grow.
Open a dedicated business bank account and avoid mixing personal and business funds.
Hold a founders’ meeting at least once a month to review finances, customer feedback, and growth plans, and keep brief written minutes.
Consider adding a vesting clause if you’re worried about one founder leaving early. For example, ownership could be earned over four years, so someone who leaves after a few months doesn’t automatically keep their full equity.
Given that you’re both university students, this structure is simple enough to use now while still being robust enough to support a growing fashion brand. If your ambition is to build a company rather than just a tailoring shop, it provides a solid starting point.
What currencies does MMMF require?
Yes. Money Market Mutual Funds (MMMFs) can be denominated in different currencies, depending on the fund. The most common currencies are: Nigerian Naira (₦) – Most MMMFs in Nigeria are naira-denominated. US Dollar (USD) – Some fund managers offer dollar money market funds. Other countries may also hRead more
Yes. Money Market Mutual Funds (MMMFs) can be denominated in different currencies, depending on the fund.
See lessThe most common currencies are:
Nigerian Naira (₦) – Most MMMFs in Nigeria are naira-denominated.
US Dollar (USD) – Some fund managers offer dollar money market funds.
Other countries may also have funds in Euros (EUR) or British Pounds (GBP).
Can you invest in a dollar MMMF?
Yes. If a fund manager offers a USD Money Market Fund, you can invest in US dollars. These funds typically invest in short-term dollar-denominated instruments such as:
Dollar fixed deposits
Dollar commercial paper
Dollar treasury instruments
Other high-quality short-term debt securities
Who is a dollar MMMF suitable for?
A USD MMMF may be a good choice if you:
Earn income in US dollars.
Want to preserve your savings in dollars.
Are saving for expenses that will be paid in dollars (such as overseas education or international travel).
Want to reduce exposure to depreciation of the naira.
Are there dollar MMMFs in Nigeria?
Yes. Several SEC-licensed Nigerian asset managers offer USD-denominated money market or fixed-income funds. Examples include:
Stanbic IBTC Asset Management Limited
Chapel Hill Denham Asset Management Limited
Meristem Wealth Management Limited
CardinalStone Asset Management Limited
Each fund has its own minimum investment amount, fees, and expected yield.
Which is better: Naira or Dollar MMMF?
It depends on your goals:
Choose a Naira MMMF if your income and future expenses are mainly in naira and you want easy access to your money.
Choose a Dollar MMMF if you already have dollars or you’re building savings for future dollar-denominated expenses.
Some investors hold both—a naira MMMF for liquidity and day-to-day financial goals, and a dollar MMMF as part of a diversified portfolio and a hedge against exchange-rate risk.
What Is the Best Investment Platform in Nigeria for Money Market Mutual Funds, Stocks, and Bonds?
If you're looking for one platform where you can invest in Money Market Mutual Funds (MMMFs), Nigerian stocks, and government bonds, there are a few reputable options in Nigeria. 1. InvestNaija by Chapel Hill Denham (My top recommendation) This is one of the few platforms that brings together: NigerRead more
If you’re looking for one platform where you can invest in Money Market Mutual Funds (MMMFs), Nigerian stocks, and government bonds, there are a few reputable options in Nigeria.
See less1. InvestNaija by Chapel Hill Denham (My top recommendation)
This is one of the few platforms that brings together:
Nigerian stocks
Money Market Mutual Funds
Equity Funds
Bond Funds
FGN Savings Bonds
Treasury Bills (when available)
Chapel Hill Denham is licensed by the Nigerian SEC as both a fund manager and broker/dealer, giving you access to multiple asset classes from one ecosystem.
Best for: Long-term investors who want a single platform.
2. Afrinvestor
Afrinvest offers:
Nigerian stocks
Treasury Bills
FGN Savings Bonds
Commercial Papers
Mutual funds through its investment products
It is another well-established SEC-licensed investment firm.
3. Meristem Securities Limited (MeriTrade)
A strong choice if your main interest is:
Nigerian stocks
Fixed-income investments
Research and market analysis
Which one should you choose?
If your goal is to gradually build wealth by investing in:
✅ Money Market Mutual Funds
✅ Nigerian stocks
✅ Government bonds
then InvestNaija by Chapel Hill Denham is one of the most comprehensive options because it combines these investment products in a single platform and is backed by a long-established investment firm.
Before you invest
Regardless of the platform you choose:
Confirm it is licensed by the Securities and Exchange Commission (SEC) Nigeria.
Ensure your investments are linked to your CSCS account where applicable (for listed shares).
Enable two-factor authentication and keep your account details secure.
Read the fees, minimum investment amounts, and withdrawal terms before investing.
For someone starting with a mix of MMMFs, stocks, and bonds, a simple allocation could be:
40% Money Market Mutual Fund (for liquidity and stability)
40% Nigerian stocks (for long-term growth)
20% FGN Bonds or Treasury Bills (for income and diversification)
This provides a balance between growth, income, and capital preservation while reducing reliance on a single asset class.
What Business Can I Start With ₦1 Million in Abuja?
With ₦1 million, you have enough capital to start a real business in Abuja, but your choice should depend on the specific Area Council (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji), the customers there, and your skills. Here are businesses I believe offer good potential: Mini supermarket/provisionRead more
With ₦1 million, you have enough capital to start a real business in Abuja, but your choice should depend on the specific Area Council (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji), the customers there, and your skills.
See lessHere are businesses I believe offer good potential:
Mini supermarket/provision store
Best in growing residential areas.
Sell everyday essentials such as food items, toiletries, beverages and household products.
Budget: ₦700,000–₦1,000,000.
Food business (restaurant or takeaway)
Areas with offices, schools and markets can provide regular customers.
Start with a simple menu and expand as demand grows.
Be sure to obtain any required local licences before operating.
POS and agency banking
A good option in locations where banking services are limited.
You can later add services such as bill payments and airtime sales.
Water distribution or sachet water retail
Daily demand makes this a steady business if you secure reliable suppliers.
Agribusiness
In Area Councils such as Kuje, Kwali and Gwagwalada, poultry, fish farming or vegetable production may be viable due to the availability of land.
ICT and printing centre
Near universities, colleges or government offices, services such as printing, photocopying, typing, online registrations and passport photographs are often in demand.
My recommendation
If I had ₦1 million and wanted a business that could generate steady cash flow, I would consider:
₦700,000 for a well-stocked provision store.
₦200,000 as working capital to replenish stock.
₦100,000 reserved for registration, shop setup and unexpected expenses.
Avoid spending your entire capital at the beginning. Keeping some cash in reserve helps you restock quickly and manage unforeseen costs.
Abuja also has entrepreneurship programmes that provide training, mentorship and, at times, funding opportunities for eligible small businesses.
To give you a more tailored recommendation, tell me:
Which Area Council are you in? (AMAC, Bwari, Gwagwalada, Kuje, Kwali or Abaji)
Do you want a trading business, a service business, or farming?
Will you run it yourself or employ someone?
Why Does My BUA Cement Share Sell Order Keep Failing on the Bamboo App?
If your sell order for BUA Cement Plc keeps failing on Bamboo, it does not necessarily mean there is a problem with the company or your shares. There are several possible reasons: No buyer at your asking price. If you're using a limit order and your selling price is higher than what buyers are williRead more
If your sell order for BUA Cement Plc keeps failing on Bamboo, it does not necessarily mean there is a problem with the company or your shares. There are several possible reasons:
See lessNo buyer at your asking price.
If you’re using a limit order and your selling price is higher than what buyers are willing to pay, the order may remain unfilled or eventually fail.
Insufficient market liquidity.
Sometimes there are very few buyers or sellers in the market. Even good companies can experience periods of low trading activity.
Price movement.
If the market price changes significantly while your order is being processed, the order may fail, especially if the price moves outside your limit.
Trading restrictions or market rules.
The Nigerian Exchange has daily price movement limits. If a stock reaches its upper or lower price limit, trading activity can become restricted.
Technical issues with Bamboo.
App or server problems can cause orders to fail even when there is enough market activity.
Corporate actions.
During events such as a share reconstruction, rights issue, or other corporate action, trading may be temporarily affected.
What you should do
Check whether your order was a Market Order or a Limit Order.
Review the current bid and ask prices for BUA Cement.
Cancel the failed order and submit a new one if appropriate.
If the problem continues for more than one trading day, contact Bamboo customer support and ask them to check the order status.
A question for you
When you say the sale “keeps failing,” do you mean:
the order is rejected immediately,
it stays on “Executing” for a long time and then fails, or
it is cancelled automatically after some time?
Also, approximately how many BUA Cement shares are you trying to sell, and are you using a Market Order or a Limit Order? That will help narrow down the likely cause.
What Should I Know Before Investing in Stocks in Nigeria?
Before you invest in stocks in Nigeria, there are several fundamental concepts you should understand. Learning these will help you make informed decisions instead of relying on rumours or social media tips. 1. What a stock is A stock (or share) represents partial ownership of a company. If you buy sRead more
Before you invest in stocks in Nigeria, there are several fundamental concepts you should understand. Learning these will help you make informed decisions instead of relying on rumours or social media tips.
See less1. What a stock is
A stock (or share) represents partial ownership of a company. If you buy shares in GTCO Plc, you become one of its shareholders and may benefit if the company grows.
2. Why people invest in stocks
There are two main ways to make money:
Capital appreciation – the share price increases over time.
Dividends – part of the company’s profits is paid to shareholders.
Many successful long-term investors earn from both.
3. Risk and return
Stocks can rise or fall in value.
Higher potential returns usually come with higher risk. Never invest money you’ll need for school fees, rent, or emergencies.
4. Long-term investing beats speculation
The Nigerian stock market can be volatile in the short term. Investing for 5–10 years or longer generally gives your investments more time to grow than trying to profit from short-term price movements.
5. How to evaluate a company
Before buying a stock, ask:
Is the company profitable?
Does it have manageable debt?
Has it consistently paid dividends?
Is its revenue and profit growing?
Does it have competent management?
6. Diversification
Don’t invest all your money in one company.
Instead of buying only one stock, spread your investments across different sectors, for example:
Banking
Telecommunications
Consumer goods
Industrial goods
Energy
This reduces the impact if one company performs poorly.
7. Understand valuation
A good company is not always a good investment if its shares are overpriced.
Learn basic measures such as:
Price-to-Earnings (P/E) ratio
Earnings Per Share (EPS)
Dividend Yield
Book Value
Market Capitalisation
These help you judge whether a share is reasonably priced.
8. Don’t follow rumours
Many people buy shares because someone says, “This stock will double next month.”
Always base your decisions on company fundamentals and your own investment plan.
9. Understand costs
Every trade may involve:
Brokerage fees
NGX transaction charges
CSCS charges
Applicable taxes or levies
These costs affect your overall return, especially if you trade frequently.
10. Keep learning
Successful investors continue learning about:
Financial statements
Annual reports
Economic trends
Interest rates
Inflation
Company announcements
The more you understand these topics, the better equipped you’ll be to make sound investment decisions.
A beginner’s approach
If you’re just starting out:
Build an emergency fund.
Open an account with a licensed stockbroker.
Invest regularly, even if it’s a small amount each month.
Focus on quality companies with strong businesses.
Reinvest your dividends whenever possible.
Review your portfolio periodically, but avoid reacting to every daily price movement.
Mastering these fundamentals is more valuable than trying to predict which stock will be the next big winner. A disciplined, long-term approach is often the key to building wealth in the stock market.
What Is the Best App to Invest in Nigerian Stocks?
There isn't a single "best" app for everyone. The right choice depends on whether you value low fees, ease of use, research tools, or access to other investment products. Here are some of the leading options for investing in Nigerian stocks: App Best for Pros Things to consider Chapel Hill Denham (IRead more
There isn’t a single “best” app for everyone. The right choice depends on whether you value low fees, ease of use, research tools, or access to other investment products.
See lessHere are some of the leading options for investing in Nigerian stocks:
App
Best for
Pros
Things to consider
Chapel Hill Denham (InvestNaija)
Long-term investors
Nigerian stocks, mutual funds, Treasury Bills, FGN Bonds
Some users report occasional technical issues.
Meristem Securities Limited (MeriTrade)
Active stock investors
Good research, direct NGX trading
Interface has a learning curve.
Afrinvest Securities Limited (Afrinvestor)
Investors wanting research
Strong market analysis and NGX access
Best suited to investors who use research.
Stanbic IBTC Stockbrokers Limited
Existing Stanbic customers
Integration with other Stanbic investment products
Mainly focused on Stanbic ecosystem.
Coronation Securities Limited
Long-term investors
Established brokerage with NGX access
May not be as beginner-focused as some apps.
Bamboo
Nigerian and U.S. stocks
Easy-to-use interface, access to multiple markets
Nigerian stock offering may differ from dedicated local brokers.
Which one would I choose?
For beginners: InvestNaija or Bamboo because their interfaces are generally easy to navigate.
For serious Nigerian stock investing: MeriTrade or Afrinvestor because of their research and trading capabilities.
For a diversified investor: InvestNaija, since it combines Nigerian stocks with mutual funds and government securities.
My recommendation
Since you’ve already been using InvestNaija and have investments there, I wouldn’t recommend moving solely because of occasional app issues. Every investment platform can experience temporary outages.
Instead, you could:
Keep your long-term portfolio on InvestNaija.
Open a secondary brokerage account (such as MeriTrade or Afrinvestor) as a backup, so you always have another platform available if one has technical problems.
This gives you flexibility without having to transfer your existing holdings.
If your goal is building wealth over the next 10–20 years, I can also recommend the 10 best Nigerian dividend-paying stocks to buy and hold through any of these platforms.