Inflation is here, what is inflation? In simple terms, a recession reduces the purchasing power of your currency. Look at the table below from my book Let’s Talk About Your Money. You see that if you earned N500,000 a year, with 15% inflation, your earnings are worth N434, 783. Inflation steals your money and …
Starlink Approved In Nigeria Elon Musk announced via a tweet (how else) that the government of Nigeria has approved Starlink as an Internet Service Provider. Let’s understand the implications and what this means for you as an investor. What Is StarLink? Starlink is high-speed internet access delivered via low earth orbital satellites …
Endowments As A Funding Options For Nigerian Universities In Nigeria, three things are certain, Death Taxes and ASUU Strikes ASUU is the union representing the Academic Staff of Nigerian Universities. The union has been on strike since 1981; Figure 1 is a newspaper cutting of November 1981 saying, “ASUU may call off strikes”. ASUU strikes …
The CBN Currently Is Autonomous According to the CBN Act of 2007, the Central Bank of Nigeria (CBN) is a fully autonomous body. Central banks need autonomy to perform their duties because their objectives are not always synchronized with executive and legislative actions. What is the Role of a Central Bank? All Central Banks fight …
The President of Nigeria, Muhammadu Buhari, has presented a supplementary budget of N4t to cover the cost of importing Premium Motor Spirit (PMS) for the fiscal year 2022. That request has been approved Background Some background, Nigeria is an oil-producing and exporting nation, and it owns four refineries. Still, at the moment, none of the …
The word Ponzi is now synonymous with fraud, especially financial fraud. Its important investors do very basic scoring of financial offers they receive or are considering. What is a Ponzi Scheme? A Ponzi scheme is a fraudulent investment scheme that offers high interest but pays this interest by taking the deposits of new investors to …
