You file your Personal Income Tax where you LIVE and WORK. Not where you are from. The Law Behind It Under the Nigerian tax system guided by: 👉 Personal Income Tax Act Tax is based on: ✓ place of residence Let Me Explain With a Simple Story Mama Ngozi is from Enugu. But she lives and sells tomatoesRead more
You file your Personal Income Tax where you LIVE and WORK.
Not where you are from.
The Law Behind It
Under the Nigerian tax system guided by:
👉 Personal Income Tax Act
Tax is based on:
✓ place of residence
Let Me Explain With a Simple Story
Mama Ngozi is from Enugu.
But she lives and sells tomatoes in Lagos.
Question:
Where does she pay her market dues?
• Enugu? ❌
• Lagos? ✅
Why?
Because:
✓ that is where she is earning money
Oya… Relax Let Me Explain
Your Situation
• You live in Lagos
• You work/earn in Lagos
So:
👉 You file in
Lagos State Internal Revenue Service
NOT Osun State.
Important Exception (Very Rare)
Only file in your state of origin if:
• you actually live there
• or earn income there
About the Deadline You Mentioned
Yes — you are correct.
👉 Lagos State Internal Revenue Service extended the deadline to:
Your doubt is valid. In Nigeria’s system: ✓ assumptions can cost you money So you are right to double-check. Now Let’s Clarify the Real Situation What E-Dividend Actually Does E-dividend mandate is what ensures: ✓ your dividends go directly to your bank account ✓ no paper warrants ✓ no unclaimed divRead more
Your doubt is valid.
In Nigeria’s system:
✓ assumptions can cost you money
So you are right to double-check.
Now Let’s Clarify the Real Situation
What E-Dividend Actually Does
E-dividend mandate is what ensures:
✓ your dividends go directly to your bank account
✓ no paper warrants
✓ no unclaimed dividends
It links:
• your bank account
• your BVN
• your shareholder records
So… Do You Still Need It?
Here is the honest answer:
It depends on whether your e-dividend has already been set up successfully.
Scenario 1: Already Mandated Properly
If:
• your BVN is linked
• your bank details are confirmed
• registrar has your mandate
Then:
✓ dividends will come directly to your account
Scenario 2: Not Mandated
If not properly done:
• dividends may not come
• or may become unclaimed dividends
Why Your Case Is Confusing
You received email from:
Coronation Registrars Limited
That means:
✓ your details exist in the registrar’s system
But that does NOT automatically confirm:
✓ e-dividend is fully activated
Let Me Be Honest With You
Many investors assume:
“I registered with a broker, so everything is complete.”
That is not always true.
Because:
✓ brokers and registrars are different systems
What You Should Do NOW (Very Important)
1. Don’t Rely on Assumptions
Even if your broker says “you’re fine”…
✓ verify independently
2. Confirm E-Dividend Status Directly
Contact:
Coronation Registrars Limited
Ask them clearly:
• “Is my e-dividend mandate active?”
• “Is my bank account linked via BVN?”
3. If There Is Any Doubt
Just do the mandate.
Why?
✓ it is FREE
✓ it removes future problems
4. Keep Records
Make sure you have:
• your CHN (Clearing House Number)
• your CSCS details
• confirmation emails
About That CHN Issue You Mentioned
You are correct to question it.
Because:
✓ you CAN use an existing CHN across brokers
So your instinct is working.
Final Truth
In Nigerian investing:
✓ “It should work” is not enough
You must confirm:
✓ “It is properly set up”
Let Me Leave You With This
When it comes to your money:
• don’t assume
• don’t rush
• don’t rely on one source
For most salary earners… borrowing to invest is NOT advisable. Yes. Let Me Explain Properly With a Simple Story Imagine you collect a loan to start selling goods. But before you even make profit… Your lender is already asking for repayment every month. That pressure alone can: • force bad decisionsRead more
For most salary earners… borrowing to invest is NOT advisable.
Yes.
Let Me Explain Properly With a Simple Story
Imagine you collect a loan to start selling goods.
But before you even make profit…
Your lender is already asking for repayment every month.
That pressure alone can:
• force bad decisions
• create stress
• lead to loss
That is exactly what happens when you borrow to invest.
The Core Problem
When you borrow money:
✓ repayment is fixed and compulsory
But when you invest:
✓ returns are uncertain and not guaranteed
Now Let’s Break It Down
1. Stocks
• prices go up and down
• no guaranteed return
You could:
• gain
• or lose
Meanwhile:
✓ your loan must still be repaid
2. Bonds / Money Market Funds
These are safer…
But:
• returns are relatively low
So:
✓ your investment return may be LOWER than your loan interest
Which means:
✓ you are losing money safely
Let Me Be Honest With You
This strategy only works in very specific situations:
• very low-interest loan
• very high financial knowledge
• strong risk management
Most people don’t meet these conditions.
Why It Is Risky for Salary Earners
As a salary earner:
• your income is fixed
• your expenses are ongoing
Adding loan repayment means:
✓ more financial pressure
What You Should Do Instead
1. Invest From Your Own Money
Start with:
• small amounts
• consistent contributions
No pressure.
2. Build Emergency Fund First
Before investing:
✓ have backup savings
So you don’t depend on loans.
3. Grow Your Income
Instead of borrowing:
✓ increase your earning capacity
That is a safer path to growth.
The Only Time It May Make Sense
Very rare cases:
• business expansion with predictable returns
• not regular stock or fund investing
Final Truth
Borrowing to invest sounds smart…
But in reality:
✓ it increases risk faster than it increases profit
Let Me Leave You With This
Before you borrow to invest, ask yourself:
• If this investment fails… how will I repay the loan?
If the answer is stressful or unclear…
Then don’t do it.
Because in finance:
✓ protecting your stability is more important than chasing profit
First… Share price is not controlled by one thing. It is controlled by expectation about the future. Not just what is happening now. Let Me Explain With a Simple Story Imagine Baba Musa owns a yam farm. Today, his farm is doing well. But suddenly people hear that: • next year there may be drought •Read more
First…
Share price is not controlled by one thing.
It is controlled by expectation about the future.
Not just what is happening now.
Let Me Explain With a Simple Story
Imagine Baba Musa owns a yam farm.
Today, his farm is doing well.
But suddenly people hear that:
• next year there may be drought
• or fertilizer price will rise
• or government may ban export
Even if his farm is still producing well today…
People may start offering lower prices for his farm.
Why?
Because they are thinking about the future.
That is exactly how the stock market works.
Oya… Let’s Break Down the Real Factors
Apart from buying/selling and profit/loss, here are the major forces:
1. Future Expectations (VERY POWERFUL)
This is the biggest driver.
If investors believe:
• the company will grow
• expand
• increase revenue
Price goes up.
Even if current profit is small.
If they believe future will be bad…
Price falls — even if current profit is good.
2. Interest Rates (Central Bank Decisions)
When interest rates rise:
• borrowing becomes expensive
• businesses may slow down
• investors move money to safer assets
Should I File My Personal Income Tax in Lagos or Osun State If I Live and Work in Lagos Nigeria?
You file your Personal Income Tax where you LIVE and WORK. Not where you are from. The Law Behind It Under the Nigerian tax system guided by: 👉 Personal Income Tax Act Tax is based on: ✓ place of residence Let Me Explain With a Simple Story Mama Ngozi is from Enugu. But she lives and sells tomatoesRead more
You file your Personal Income Tax where you LIVE and WORK.
Not where you are from.
The Law Behind It
Under the Nigerian tax system guided by:
👉 Personal Income Tax Act
Tax is based on:
✓ place of residence
Let Me Explain With a Simple Story
Mama Ngozi is from Enugu.
But she lives and sells tomatoes in Lagos.
Question:
Where does she pay her market dues?
• Enugu? ❌
• Lagos? ✅
Why?
Because:
✓ that is where she is earning money
Oya… Relax Let Me Explain
Your Situation
• You live in Lagos
• You work/earn in Lagos
So:
👉 You file in
Lagos State Internal Revenue Service
NOT Osun State.
Important Exception (Very Rare)
Only file in your state of origin if:
• you actually live there
• or earn income there
About the Deadline You Mentioned
Yes — you are correct.
👉 Lagos State Internal Revenue Service extended the deadline to:
April 14, 2026
What This Means
You still have time to:
✓ file your return
✓ avoid penalty
Let Me Be Honest With You
Many people make this mistake:
• filing in wrong state
• or not filing at all
What You Should Do Now
Step 1
File through Lagos (LIRS)
Step 2
Ensure your:
• TIN
• records
• income details
are correct
Step 3
Submit before deadline
Final Truth
Tax follows:
✓ where you live
✓ where you earn
Not:
✓ your village
✓ your origin
Let Me Leave You With This
Whenever you’re confused about tax location, ask:
• “Where am I making my money from?”
That answer will always guide you correctly.
See lessDo I Still Need an E-Dividend Mandate Form After Signing Up with InvestNaija, or Can Dividends Be Credited Directly to My Bank Account?
Your doubt is valid. In Nigeria’s system: ✓ assumptions can cost you money So you are right to double-check. Now Let’s Clarify the Real Situation What E-Dividend Actually Does E-dividend mandate is what ensures: ✓ your dividends go directly to your bank account ✓ no paper warrants ✓ no unclaimed divRead more
Your doubt is valid.
In Nigeria’s system:
✓ assumptions can cost you money
So you are right to double-check.
Now Let’s Clarify the Real Situation
What E-Dividend Actually Does
E-dividend mandate is what ensures:
✓ your dividends go directly to your bank account
✓ no paper warrants
✓ no unclaimed dividends
It links:
• your bank account
• your BVN
• your shareholder records
So… Do You Still Need It?
Here is the honest answer:
It depends on whether your e-dividend has already been set up successfully.
Scenario 1: Already Mandated Properly
If:
• your BVN is linked
• your bank details are confirmed
• registrar has your mandate
Then:
✓ dividends will come directly to your account
Scenario 2: Not Mandated
If not properly done:
• dividends may not come
• or may become unclaimed dividends
Why Your Case Is Confusing
You received email from:
Coronation Registrars Limited
That means:
✓ your details exist in the registrar’s system
But that does NOT automatically confirm:
✓ e-dividend is fully activated
Let Me Be Honest With You
Many investors assume:
“I registered with a broker, so everything is complete.”
That is not always true.
Because:
✓ brokers and registrars are different systems
What You Should Do NOW (Very Important)
1. Don’t Rely on Assumptions
Even if your broker says “you’re fine”…
✓ verify independently
2. Confirm E-Dividend Status Directly
Contact:
Coronation Registrars Limited
Ask them clearly:
• “Is my e-dividend mandate active?”
• “Is my bank account linked via BVN?”
3. If There Is Any Doubt
Just do the mandate.
Why?
✓ it is FREE
✓ it removes future problems
4. Keep Records
Make sure you have:
• your CHN (Clearing House Number)
• your CSCS details
• confirmation emails
About That CHN Issue You Mentioned
You are correct to question it.
Because:
✓ you CAN use an existing CHN across brokers
So your instinct is working.
Final Truth
In Nigerian investing:
✓ “It should work” is not enough
You must confirm:
✓ “It is properly set up”
Let Me Leave You With This
When it comes to your money:
• don’t assume
• don’t rush
• don’t rely on one source
Always verify.
Because one small missing step today…
can lead to years of unclaimed dividends.
Rose Ejituru
See lessIs It Advisable for a Salary Earner in Nigeria to Borrow Money to Invest in Stocks, Bonds, or Mutual Funds?
For most salary earners… borrowing to invest is NOT advisable. Yes. Let Me Explain Properly With a Simple Story Imagine you collect a loan to start selling goods. But before you even make profit… Your lender is already asking for repayment every month. That pressure alone can: • force bad decisionsRead more
For most salary earners… borrowing to invest is NOT advisable.
Yes.
Let Me Explain Properly With a Simple Story
Imagine you collect a loan to start selling goods.
But before you even make profit…
Your lender is already asking for repayment every month.
That pressure alone can:
• force bad decisions
• create stress
• lead to loss
That is exactly what happens when you borrow to invest.
The Core Problem
When you borrow money:
✓ repayment is fixed and compulsory
But when you invest:
✓ returns are uncertain and not guaranteed
Now Let’s Break It Down
1. Stocks
• prices go up and down
• no guaranteed return
You could:
• gain
• or lose
Meanwhile:
✓ your loan must still be repaid
2. Bonds / Money Market Funds
These are safer…
But:
• returns are relatively low
So:
✓ your investment return may be LOWER than your loan interest
Which means:
✓ you are losing money safely
Let Me Be Honest With You
This strategy only works in very specific situations:
• very low-interest loan
• very high financial knowledge
• strong risk management
Most people don’t meet these conditions.
Why It Is Risky for Salary Earners
As a salary earner:
• your income is fixed
• your expenses are ongoing
Adding loan repayment means:
✓ more financial pressure
What You Should Do Instead
1. Invest From Your Own Money
Start with:
• small amounts
• consistent contributions
No pressure.
2. Build Emergency Fund First
Before investing:
✓ have backup savings
So you don’t depend on loans.
3. Grow Your Income
Instead of borrowing:
✓ increase your earning capacity
That is a safer path to growth.
The Only Time It May Make Sense
Very rare cases:
• business expansion with predictable returns
• not regular stock or fund investing
Final Truth
Borrowing to invest sounds smart…
But in reality:
✓ it increases risk faster than it increases profit
Let Me Leave You With This
Before you borrow to invest, ask yourself:
• If this investment fails… how will I repay the loan?
If the answer is stressful or unclear…
Then don’t do it.
Because in finance:
✓ protecting your stability is more important than chasing profit
Rose Ejituru
See lessWhy Do Share Prices Change Apart From Company Profit or Loss in the Stock Market?
First… Share price is not controlled by one thing. It is controlled by expectation about the future. Not just what is happening now. Let Me Explain With a Simple Story Imagine Baba Musa owns a yam farm. Today, his farm is doing well. But suddenly people hear that: • next year there may be drought •Read more
First…
Share price is not controlled by one thing.
It is controlled by expectation about the future.
Not just what is happening now.
Let Me Explain With a Simple Story
Imagine Baba Musa owns a yam farm.
Today, his farm is doing well.
But suddenly people hear that:
• next year there may be drought
• or fertilizer price will rise
• or government may ban export
Even if his farm is still producing well today…
People may start offering lower prices for his farm.
Why?
Because they are thinking about the future.
That is exactly how the stock market works.
Oya… Let’s Break Down the Real Factors
Apart from buying/selling and profit/loss, here are the major forces:
1. Future Expectations (VERY POWERFUL)
This is the biggest driver.
If investors believe:
• the company will grow
• expand
• increase revenue
Price goes up.
Even if current profit is small.
If they believe future will be bad…
Price falls — even if current profit is good.
2. Interest Rates (Central Bank Decisions)
When interest rates rise:
• borrowing becomes expensive
• businesses may slow down
• investors move money to safer assets
So stock prices may fall.
When rates fall:
• businesses grow easier
• investors prefer stocks
Prices may rise.
3. Inflation
If inflation is high:
• cost of production increases
• consumers buy less
• company profit may reduce
So investors adjust prices downward.
4. Government Policies & Regulations
New policies can change everything overnight.
Examples:
• new taxes
• import bans
• subsidies removal
• banking regulations
A single government decision can move share prices sharply.
5. Industry Performance
Sometimes it’s not the company…
It’s the entire sector.
For example:
• if oil prices crash → oil companies fall
• if banking rules change → bank stocks move
So even a good company can fall because its industry is struggling.
6. Company News (Beyond Profit)
Things like:
• new CEO appointment
• scandals or fraud
• expansion into new markets
• mergers and acquisitions
All these affect investor confidence.
7. Dividends
If a company:
• increases dividend → price may rise
• cuts dividend → price may fall
Because investors love consistent income.
8. Global Events
Even if a company is in Nigeria…
Global issues can affect it:
• war
• oil price changes
• foreign exchange rates
• global recession
Everything is connected.
9. Market Sentiment (Human Emotions)
This one is powerful and dangerous.
Sometimes prices move because of:
• fear
• greed
• rumors
• hype
Not logic.
That’s why markets sometimes:
• rise too fast
• fall too hard
10. Liquidity (How Easy It Is to Buy/Sell)
If a stock is:
• actively traded → price moves smoothly
• rarely traded → price can jump suddenly
Let Me Be Honest With You
Even experts cannot predict price movements perfectly.
Because:
The market is a mix of logic and human emotion.
Final Truth
Profit and loss tell you about the present.
But share price reflects:
👉 what people BELIEVE about the future.
Let Me Leave You With This
Many beginners ask:
“Why did the price fall? The company made profit.”
But the real question is:
“What did investors EXPECT… and what actually happened?”
Because once you understand that…
You stop being confused.
And you start thinking like a real investor.
I am Rose Ejituru
See less