How you pay tax depends on how you earn your income.

Yes.

Not everyone pays tax the same way.

1. If You Are a Salary Earner (PAYE)

This is the most common.

PAYE means:

👉 Pay As You Earn

In this case:

• your employer deducts tax from your salary
• they remit it to the government

Through your State Internal Revenue Service
(e.g., Lagos State Internal Revenue Service if you work in Lagos)

So for you:

✓ you don’t pay manually
✓ it is done monthly automatically

2. If You Are Self-Employed / Business Owner

This is different.

You are responsible for your own tax.

How You Pay

You can pay through:

Option A: Online

Via your state tax portal
(e.g., Lagos State Internal Revenue Service website)

Option B: Bank Payment

You can:

• generate a tax assessment
• pay through designated banks

3. Is It Monthly or Yearly?

For Salary Earners:

✓ Paid monthly (automatically deducted)

For Self-Employed:

✓ File returns once a year

Deadline is usually:

👉 March 31st every year

4. What Is the Process Like? (Self-Employed)

Step 1: Register for Tax (Get TIN)

With:

👉 Federal Inland Revenue Service
or your state tax office

Step 2: File Annual Tax Return

You declare:

• your total income for the year
• your expenses (where applicable)

Step 3: Get Tax Assessment

Government calculates how much you should pay.

Step 4: Make Payment

You can:

• pay online
• or through bank

Step 5: Collect Receipt / Clearance

This proves you are tax compliant.

Let Me Be Honest With You

Many people ignore tax because:

• they don’t understand it
• they think it’s complicated

But it becomes simple once you know your category.

Final Truth

👉 Salary earners: tax is deducted monthly
👉 Self-employed: you file and pay yearly

Let Me Leave You With This

Tax is not just an obligation.

It is part of your financial identity.

So ask yourself:

• Am I compliant?
• Do I understand how my income is taxed?

Because in today’s system…

✓ proper tax record affects:
• loans
• investments
• financial opportunities

Rose Ejituru

See less

Buying more of a stock after it drops is not automatically a good idea.

It has a name:

✓ Averaging down

And it can be:

• smart
• or dangerous

Depending on why you’re doing it.

Let Me Explain With a Simple Story

Imagine you bought tomatoes at a high price.

Now the price drops.

You decide to buy more.

That only makes sense if:

• tomatoes will sell later
• demand is still strong

If nobody will buy the tomatoes later…

You’re just adding to your problem.

So… Should You Buy More MTN?

Let’s break it down the right way.

1. Ask: Why Did the Price Drop?

Before buying more, you must understand:

• Is it general market decline?
• Or company-specific problem?

If the whole market is down:

✓ it may be an opportunity

If the company has issues:

⚠️ be careful

you have to do the findings

2. Is MTN Still a Strong Business?

Look at basics:

• large customer base ( which it has )
• strong revenue streams (data, voice)
• dominant telecom position

If these are still intact:

✓ long-term outlook may still be solid

3. Your Investment Goal Matters

Are you:

Long-term investor?

Then:

✓ temporary price drop may not matter
✓ buying more can reduce your average cost

Short-term trader?

Then:

⚠️ averaging down can trap your money

4. Do You Have a Plan?

Never buy more just because:

• “price is cheaper now”

Buy more only if:

✓ you understand the company
✓ you believe in its future
✓ you have a long-term plan

Let Me Be Honest With You

Many people lose money because of this mindset:

“I bought high… let me keep buying as it falls.”

That is not strategy.

That is hope.

Smart Way to Approach It

Instead of rushing:

• review the company
• watch price movement
• buy gradually (not all at once)

Final Truth

Buying more at a lower price can be powerful…

But only when:

✓ the business is still strong
✓ your conviction is based on facts
✓ you are thinking long-term

Let Me Leave You With This

Before you buy more, ask yourself:

• If I didn’t already own this stock… would I buy it today?

If the answer is YES…

Then adding more may make sense.

If the answer is NO…

Then don’t force it.

Because in investing:

✓ not every falling price is an opportunity
✓ some are warnings

 

Rose Ejituru

See less

If one detail does not match EXACTLY across your records… the system will reject everything.

Not similar.

Not close.

Why This Happens

Your details are being verified across:

• NIN database
• BVN database
• telecom records

If there is even a slight difference:

• spelling
• date format
• phone number linkage

It will fail.

Common Causes (Check This Carefully)

1. Name Arrangement Problem

This is the number one issue.

Example:

• NIN: Ejituru Rose Ada
• BVN: Rose Ejituru

Even though it’s the same person…

✓ the system may reject it

2. Date of Birth Mismatch

Check if:

• NIN date matches BVN exactly
• no typing error (day/month swapped)

3. Phone Number Not Linked Properly

Make sure:

• the phone number you’re using is linked to your BVN
• and also matches your NIN record

4. BVN and NIN Not Synced

Sometimes:

• your NIN and BVN are not properly linked

This can cause verification failure.

5. Network or Site Glitch

Let’s be honest.

Sometimes it’s not you.

It’s:

• server issues
• website bugs
• temporary downtime

What You Should Do Now

Step 1: Cross-Check Your Details

Compare:

• NIN slip
• BVN details (from your bank)

Make sure:

✓ names match exactly
✓ date of birth is identical
✓ phone number is the same

Step 2: Confirm BVN–NIN Linkage

Go to your bank and ask:

✓ “Is my BVN properly linked to my NIN?”

If not:

• request immediate linkage

Step 3: Try Again (Carefully)

When re-entering:

• use same name format as BVN
• avoid abbreviations
• avoid rearranging names

Step 4: Try a Different Browser/Time

Sometimes:

• use Chrome instead of Safari
• try early morning or late night

Step 5: Contact NGX Support

If it still fails:

Reach out to Nigerian Exchange Group support.

Provide:

• screenshot of error
• details used
• explanation of issue

Let Me Be Honest With You

Most of the time…

This problem is not “you entered wrong details.”

It is:

✓ your records don’t match across systems

Alternative (Very Important)

You actually don’t need to stress yourself too much with NGX registration.

You can:

✓ open an account with a licensed stockbroker

They will:

• handle registration
• handle verification
• give you access to the market

Much easier.

Final Truth

In Nigeria’s financial system:

✓ your identity must be consistent everywhere

Because one small mismatch…

can block everything.

Let Me Leave You With This

Before blaming the system, always ask:

• Are my records consistent across all platforms?
• Is my identity properly linked?

Because once your data is clean…

everything else becomes easy.

Rose Ejituru

See less

Your money is NOT stuck.

✓ It is simply invested

And there is a big difference.

Let Me Explain With a Simple Story So You Would Understand Better

Imagine you used your money to buy a goat.

Now you say:

“I want my money back.”

Can you just press a button and get cash?

No.

✓ You must SELL the goat first.

That is exactly how stocks work.

Why You “Can’t Withdraw”

When you buy shares:

✓ Your money is converted into shares

So:

• you no longer have cash
• you now own part of a company

To Get Your Money Back

You must:

✓ SELL the stock

After selling:

• money goes to your Bamboo wallet
• then you can withdraw to your bank

Why There Is “No Progress”

Let me be very honest with you.

Stocks do NOT grow every day.

Sometimes:

• price goes up
• price goes down
• price stays flat for a while

Important Truth

✓ Investing is NOT like a fixed deposit
✓ There is no guaranteed daily increase

Possible Reasons You’re Not Seeing Growth

1. The Stock Price Has Not Increased

Simple.

If you bought at $10 and it is still $10…

✓ no visible gain yet

2. Market Is Down

Sometimes:

• the whole market is down
• even good companies drop

3. You Bought Without Strategy

This is the real issue.

You said it yourself:

✓ you bought “ignorantly”

So you didn’t check:

• the company
• the timing
• the purpose

What You Should Do NOW (Very Important)

Step 1: Check the Stock You Bought

Ask yourself:

• What company did I buy?
• Is it a strong company?
• Why did I buy it?

If you don’t know…

✓ go and find out immediately

Step 2: Decide Your Goal

Choose one:

✓ Short-term (trading)
OR
✓ Long-term (investing)

Step 3: If You Want Your Money Back

Do this:

1. Open Bamboo
2. Click on the stock
3. Tap SELL
4. Enter amount
5. Confirm

After selling:

✓ withdraw your cash

Step 4: If You Decide to Stay Invested

Then relax and:

• monitor the company
• think long-term
• stop checking every hour

Let Me Be Honest With You

The mistake is not that you bought a stock.

The mistake is:

✓ buying without understanding

But now you are learning.

That’s how real investors are built.

Golden Rule You Must Never Forget

Before buying any stock, always ask:

• What does this company do?
• How does it make money?
• Why am I buying it?

If you cannot answer these…

✓ Don’t buy

Final Truth

Your money is not lost.

✓ It is just in a different form (shares)

And you have two choices:

• sell and take your money
• hold and let it grow over time

Let Me Leave You With This

Every experienced investor today…

once bought a stock they didn’t understand.

The difference is:

✓ they learned from it

So ask yourself:

• Will I panic… or will I learn?

Because this moment…

✓ is the beginning of your real financial education

Rose Ejituru

See less

“Buy low, sell high” is NOT cash flow.

👉 It is called capital gain.

Let Me Explain With a Simple Story

Imagine Mama Ngozi buys a bag of rice for ₦40,000.

Later, she sells it for ₦50,000.

Her profit = ₦10,000

That profit came from:

👉 buying at a lower price and selling at a higher price

That is exactly what “buy low, sell high” means.

So What Is It Called?

👉 Capital Gain

You make money only when you SELL.

Now… What Is Cash Flow?

Cash flow is different.

It means:

👉 Money coming in regularly without selling the asset.

Example of Cash Flow

If Mama Ngozi rents out a shop:

• she receives rent every month

She does NOT need to sell the shop to earn money.

That is:

👉 Income-generating asset (cash flow)

Now Let’s Compare Clearly

1. Buy Low, Sell High

• Type: Capital Gain
• Money comes: Only when you sell
• Example: Stocks, land flipping

2. Income-Generating Asset

• Type: Cash Flow
• Money comes: Regularly
• Example:

• dividends from stocks
• rental income
• bond interest

Let Me Be Honest With You

Most beginners focus only on:

👉 “buy low, sell high”

Because it sounds exciting.

But real wealth builders focus on:

👉 cash flow

Because it pays them consistently.

Final Truth

👉 Buy low, sell high = one-time profit (capital gain)
👉 Income-generating asset = steady income (cash flow)

Let Me Leave You With This

If you only rely on:

👉 buying and selling…

You will always need to keep chasing the next deal.

But if you build:

👉 income-generating assets…

Your money starts working for you.

So ask yourself:

• Do I want quick profit… or steady income?
• Am I building cash flow… or just chasing gains?

Because financial freedom comes when:

👉 your income continues… even when you stop working.

Rose Ejituru

See less