Help, my Harvard graduate wants to be a DJ!

graduate

So, your ivy league educated graduate child just announced his decision to abandon his professional education to pursue a career in photography, fashion designing or animation. You might not agree but It is not necessarily cause for alarm. The world as we know it is fast evolving and society now accommodates new age careers that were unpopular just a few years ago.

There is now such a thing as professional photographers, bloggers, stylists, animators, even fashion designers and cobblers who have gone ahead to make a comfortable living from their trade.

Akintayotimi for instance has travelled the world photographing weddings. Bayo Omoboriowo who is currently the president’s official photographer chose photography regardless of his first-class degree and mouth-watering job offers. Mai Atafo abandoned a budding career as a brand Manager with the Diageo group to pursue fashion designing. These examples and many others in the art and IT sectors are proof that your ward might be in good company.

How can you support your child’s new age career? Consider the following tips

  • Understand that your investments are not wasted

Although he might be abandoning the chambers to start a clothing line, the exposure and world view gained during his education would definitely impart on his trade. Not only will his approach to work and delivery be world class, he would also be able to better manage his business and you would have achieved your aim of giving him a good foundation on which to build the future.

  • Appreciate their ability to discover themselves

It’s a great thing that your child can look inwards to discover and harness his talents and potentials. Instead of disdaining his decision, attempt to see things from his perspective. Respect his passion and vision.

  • Show interest but don’t hover

This is his thing, not another branch of the family business. So, while you are trying to support, be careful not to hover. You can offer business advice and share proven principles that have worked for you but don’t attempt to run the business for him. Allow him to make his own decisions.

  • Help them with needed exposure

Entrepreneurs often need a platform to show the world their skill or goods. As much as you can, help with needed contacts and providing that platform. Encourage him to leverage on your name and goodwill.

  • Keep them responsible

It’s easy for a young person with big dreams to lose focus along the way, especially when faced with obstacles or a sudden rush of victories. Keep them grounded in any way you can. You could make a provision in your Trust for instance that allows your ward access to particular privileges only after he has met the condition of successfully managing his business past the five-year mark.

  • Celebrate their victories

For entrepreneurs and new age professionals, little victories form the stepping stone to the limelight. Celebrate those little victories with them. Congratulate him on his first client, use his product if you can, display his art in your office, play his song from time to time. Assure him you are proud of him.

  • Give them a soft-landing place

Many times, dreams do not materialize. Your new age entrepreneur might eventually see reason to return to the chambers or join the family business like you have always wanted. Keep the space open for him to make the switch if the need arises. Be there to help him pick up the pieces and start off on a new direction.

Apart from a sound education, another highly beneficial gift you can give your children is a well-planned estate, one that ensures your legacy is preserved for them and your good wishes for them are followed to the letter.

Talk to us today, we’ll meet your estate planning needs with a bespoke plan tailormade, just for you.

6 Christmas money-saving tips for 2017

6 Christmas money-saving tips for 2017

With the year fast winding down and Christmas barely 55 days away, have you started preparing for the festivities?

Christmas is that time of the year that swallows up a huge chunk of our money leaving most of us apprehensive as the New Year approaches. It is common to hear people lament being broke in January, but this doesn’t have to be so for you if you follow these tips.

 

  1. Be organized

Know what you want to spend money on and create a budget to match your planned expenses. If you’ll be gifting people or travelling, find out the cost and factor that into your budget too along with any other plans you may have. Then ensure that you stick to your budget to avoid overspending.

  1. Start shopping now

By now, you should already have the list of all you plan to buy, start buying them gradually. Pick a few items to buy each week. This way, you’ll find that you are not overwhelmed when the week of Christmas comes. Knowing how prices get hiked during festivities, you will be thanking your lucky stars that you shopped early.

  1. Book flight and bus tickets in advance

Fares typically shoot up from the first week in December, so you might want to book your tickets before then. Save that extra cash, you’ll definitely be needing it.

  1. Brave Black Friday sales

If you like discounts and you’re not afraid of the crowd, then you should look forward to November 24 with joy. Take advantage of the decent discounts and know exactly what you want to buy and how much you plan to spend. Don’t get carried away by all the amazing cheap stuff on sale to avoid falling into a trap disguised as a deal. Stay focused on your goal, which is cutting down cost ahead of Christmas.

  1. Call your tailor now

If you’ve committed to wearing ‘asoebi’ for someone’s celebration this Christmas or have plans to sew outfits for yourself, now is the time to get that piece of material to your tailor if you haven’t done that yet.

Don’t wait until tailors are fully booked and you have to pay extra for ‘express’ sewing. Remember that when ‘seasonal sewing’ start, tailors too hike their prices.

  1. Save the extras

Planning now for Christmas by following these tips means you’ll have some extra money. But don’t get tempted to spend it all on some fancy desire you really don’t need. How about saving with your future or that of those you care about in mind? Remember, every little bit counts. Instead of looking for one big way to save a ton of money, save in lots of small ways like the above listed and like little drops, it will make a mighty financial ocean when you need it most.

The post 6 Christmas money-saving tips for 2017 appeared first on Realising Ambitions.

Source: Articles

In the news: CBN sells forex to manufacturers, airlines

In the news: CBN sells forex to manufacturers, airlines

Punch

CBN rules out naira fall as external reserves hit $34bn

The nation’s external reserves have hit $34bn from $33.6bn attained on October 25, the Central Bank of Nigeria has stated.

IMF wants Nigeria to stop tax holidays

The International Monetary Fund has advised the Federal Government to urgently revisit tax holidays and exemptions given to companies.

Recoveries from whistle-blower policy exceeded our expectations – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, on Sunday said that the recoveries, which the Federal Government had made through the implementation of the whistle-blower policy, had exceeded its expectations.

TCN yet to access $1.5bn power project loans – MD

Transmission Company of Nigeria says it has yet to access the power infrastructure expansion loans totaling $1.5bn from foreign creditors.

2017 budget: FG records 49% non-oil revenue shortfall

The Federal Government recorded a 49 per cent shortfall in non-oil revenue needed to finance the 2017 budget, figures obtained from the Budget Office of the Federation have revealed.

Naira closes at 363/dollar, CBN sells forex to manufacturers, airlines

The Central Bank of Nigeria has injected $285.7m into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy.

This Day

CBN Reads Riot Act to Exporters over Non-repatriation of Export Proceeds

The Central Bank of Nigeria (CBN) has reiterated its resolve to heavily sanction exporters that fail to repatriate their export proceeds within the stipulated days for oil and gas as well as for non-oil exports.

Nigerian Bourse Plunges Despite Positive Results, Retention on MSCI Frontier Index

The Nigerian stock market remained bearish last week to close 0.34 per cent lower despite impressive nine months results by most companies and the decision of the MSCI to retain Nigeria indexes in the MSCI Frontier Markets.

IEA: Global Oil Supply Rose 90,000b/d in September to 97.5mb/d

Global oil supply rose 90,000 b/d in September to 97.5 mb/d as non-OPEC output edged higher with output standing at 620,000 b/d higher than last year.

IMF Advises Nigeria to Recapitalize Banks

Following the intense weakening of Nigeria’s macroeconomic environment, resulting in the deterioration of asset quality and rise in non-performing loans (NPLs) in the banking industry, the International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to consider asking the country’s lenders to recapitalize.

Nigerian Breweries Records N24bn Profit, Declares N7.9bn Interim Dividend

Nigerian Breweries posted revenue of N254.7 billion in 2017, up from N222.7 billion in the corresponding period of 2016.

Guardian

BDCs seek CBN’s intervention in rising transaction charges by banks

The Association of Bureaux De Change Operators of Nigeria (ABCON), an umbrella body of Bureaux de Change (BDCs) operators is seeking the intervention of the Central Bank of Nigeria (CBN) over what it described as “burden” on operators in the form of charges for transactions by banks.

Investors worried about N10 million fraud allegations against SEC

Stock market investors have expressed concern over the alleged N104million fraud levelled against the Director General (DG), Securities and Exchange Commission (SEC), Mounir Gwarzo, saying that such crisis would definitely have a multiplier effect on market.

Fresh trouble for Atiku’s INTELS as OGFZA alleges rules’ violation

Oil and gas logistics giant and port concessionaire, INTELS Nigeria Limited (INL), is in fresh trouble as the Oil and Gas Free Zones Authority (OGFZA) has ordered a comprehensive audit of a decade of its operations (2006-2016).

The Nation

Union Bank closes application for N50b rights issue

Union Bank of Nigeria (UBN) Plc will today close application for its N50 billion rights issue which was opened on September 20, 2017.

Quoted firms have tomorrow as deadline to submit Q3 earnings reports

Quoted companies that have not submitted their operational reports and financial statements for the third quarter must submit their reports to the Nigerian Stock Exchange (NSE) before the close  of work tomorrow in order to avoid poor corporate governance tag and sanctions that may range from N100,000 to about N100 million.

Guinness Nigeria’s N40b rights issue records full subscription

Guinness Nigeria Plc has secured additional N39.7 billion new equity funds from its existing shareholders as shareholders picked up the entire rights offered by the brewer.

Vanguard

Excess liquidity to persist as N214bn inflow boost interbank

The interbank money market will  this week enjoy inflow of N214 billion which will reinforce the volume of idle cash (excess liquidity) in the market leading to further moderation in cost of funds.

Business Day

Nine banks make N485bn in Q3 from Treasury Bills

Cumulative interest income from fixed income securities of nine Nigerian banks that have released third quarter (Q3) 2017 results spiked by 58.64 percent to N484.46 billion in the three months ended September 2017.

Reuters

Fitch Affirms Kaduna State at ‘B’; Outlook Stable

Fitch Ratings has affirmed Kaduna State’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B’ and National Long-Term Rating at ‘A+(nga)’.

The post In the news: CBN sells forex to manufacturers, airlines appeared first on Realising Ambitions.

Source: Articles

Help, my Harvard graduate wants to be a DJ!

Help, my Harvard graduate wants to be a DJ!

So, your ivy league educated child just announced his decision to abandon his professional education to pursue a career in photography, fashion designing or animation. You might not agree but It is not necessarily cause for alarm. The world as we know it is fast evolving and society now accommodates new age careers that were unpopular just a few years ago.

There is now such a thing as professional photographers, bloggers, stylists, animators, even fashion designers and cobblers who have gone ahead to make a comfortable living from their trade.

Akintayotimi for instance has travelled the world photographing weddings. Bayo Omoboriowo who is currently the president’s official photographer chose photography regardless of his first-class degree and mouth-watering job offers. Mai Atafo abandoned a budding career as a brand Manager with the Diageo group to pursue fashion designing. These examples and many others in the art and IT sectors are proof that your ward might be in good company.

How can you support your child’s new age career? Consider the following tips

  • Understand that your investments are not wasted

Although he might be abandoning the chambers to start a clothing line, the exposure and world view gained during his education would definitely impart on his trade. Not only will his approach to work and delivery be world class, he would also be able to better manage his business and you would have achieved your aim of giving him a good foundation on which to build the future.

  • Appreciate their ability to discover themselves

It’s a great thing that your child can look inwards to discover and harness his/her talents and potentials. Instead of disdaining her decision, attempt to see things from her perspective. Respect her passion and vision.

  • Show interest but don’t hover

This is his thing, not another branch of the family business. So, while you are trying to support, be careful not to hover. You can offer business advice and share proven principles that have worked for you but don’t attempt to run the business for him. Allow him to make his own decisions.

  • Help them with needed exposure

Entrepreneurs often need a platform to show the world their skill or goods. As much as you can, help with needed contacts and providing that platform. Encourage your child to leverage on your name and goodwill.

  • Keep them responsible

It’s easy for a young person with big dreams to lose focus along the way, especially when faced with obstacles or a sudden rush of victories. Keep them grounded in any way you can. You could make a provision in your Estate for instance that allows your ward access certain privileges only after he has met the condition of successfully managing his/her business past the five-year mark.

  • Celebrate their victories

For entrepreneurs and new age professionals, little victories form the stepping stone to the limelight. Celebrate those little victories with them. Congratulate him on his first client, use her product if you can, display his art in your office, play her song from time to time. Assure him you are proud of him.

  • Give them a soft-landing place

Many times, dreams do not materialize. Your new age entrepreneur might eventually see reason to return to the chambers or join the family business like you have always wanted. Make it easy for him/her to make the switch if the need arises. Be there to help them pick up the pieces and start off on a new direction.

As a parent, you want to make sure nothing stands in your child’s way – especially the ability to pay for tuition. But with the rising costs, it can be hard to know where to start. Talk to us today, we can put together a strategy to meet your education savings goals and balance these with your other goals, like retirement.

The post Help, my Harvard graduate wants to be a DJ! appeared first on Realising Ambitions.

Source: Articles

What is today’s date?

What is today’s date?

The moment my phone rang, I knew it. Bimbo had sent me a good morning SMS that morning, and she was calling barely an hour later. I needed no other reminder that the end of the month was almost here. If there is a major disadvantage to being a salary earner, it’s that everyone around you knows when you’re getting paid. Like clockwork, the calls start coming in around the 20th and they don’t stop until the 2nd of the new month. There’s the person just calling to greet you (and remind you to remember her), your hairdresser’s son who needs money for exams,your driver whose wife will soon deliver. The list is endless.

At first, I managed the situation by allocating specific amounts to ‘family and friends’ in my monthly budget. I disbursed the amount on a first come, first serve basis – that didn’t work for very long. There were just those cases touching enough to shake my resolve till I found myself diverting money budgeted for other things. Because life must go on, monthly expenses are usually sorted and it’s often my savings plan that suffers. Next month, I tell myself, I will save next month; but nothing ever changes ‘next month’.

I finally became really smart. I backed my resolve to save with necessary action. I set up a direct debit mandate to my Money Market Fund Investment. I even put reminders on my phone alerting me to lookup the offer rates of Treasury Bills and check out stock brokerage opportunities. Guess what date I put for the reminder? The same date my salary comes in. Now, as I get the credit alert that announces my salary, I also get the alert that reminds me to invest and the one that assures me I just invested. It’s been very effective, I am finally building what I like to call an ‘emergency fund’ and if I continue this way, I should have enough to attempt getting my own property soon.

So, I no longer wonder what date it is before I pick phone calls. Even if you call on salary day, the answer is simple, and true. ‘Ah, Bimbo, I don’t have money o. My cash is tied up…’

The post What is today’s date? appeared first on Realising Ambitions.

Source: Articles

Q4 Nigerian Strategy Report: Pathway in turning tide

Q4 Nigerian Strategy Report: Pathway in turning tide

Crude Oil: Will crude oil ‘roller coaster’ linger?

Crude oil market rebalancing in the third quarter of 2017 was ahead of our forecast, as US oil production was partially disrupted by the Hurricane while OPEC stuck to its pact. For context, at the start of the quarter, we had forecasted a slower rebalancing of the crude oil market with excess supply projected to decline to 100kbpd (Q2 17: 400kbpd). This view was hinged on quick increases in shale production, which we expected to moderate the impact of rising demand and OPEC’s production cut.

Irrespective, the impact of hurricane on production made our earlier call look too pessimistic, after having stoked a faster than expected rebalancing. Precisely, crude oil market switched to a deficit in the quarter (-160kbpd) to drive a bull run in the commodity price.

Further examination of the crude oil market reveals increases in global crude demand over the review period to 98.9mbpd (1.6% QoQ) largely reflecting growth in the OECD region (2.0% QoQ to 47.6mbpd). The growth was driven by rising European demand, a reflection of positive vehicle sales, combined with increases in demand stoked by the re-opening of US refinery.

Nonetheless, demand was relatively sticky in China and India as economic recovery remained slow. At the other end, the market witnessed increases in supply (1.0% QoQ to 98.7mbpd), but the momentum was slower than earlier expected. For us, the mild increase in supply was on the back of further crude production cut by Russia as well as slower than expected rise in US shale activities. Specifically, following Hurricane Harvey which led to a 186kbpd unplanned production outages, US’s supply came in only slightly higher relative to prior quarter (+280kbpd).

This, in addition to the 300kbps cut in Russia’s production, was enough to offset the impact of a rise in OPEC’s supply that was triggered by higher supply from previously battered members: Nigeria (+176kbpd) and Libya (+230kbpd). On balance, a tamer crude supply picture (relative to demand) led to the much-needed rebalancing in the crude oil market in the review period.

View full Nigerian strategy report here

The post Q4 Nigerian Strategy Report: Pathway in turning tide appeared first on Realising Ambitions.

Source: Articles

9 interesting running facts

9 interesting running facts

Whether you are a first-time runner, or you’ve been running for years, some of these facts about running will interest you.

FACT 1

Even if you’re a slow jogger, you’ll burn at least 10 calories per minute of running. That means you can hope to run off that block of chocolate you ate in less than 23 minutes.

FACT 2

Over 1 billion pairs of running shoes are sold world-wide each year. Oh, I hope you’ve bought your running shoes for Run for the Future 5? Best to be prepared on time.

FACT 3

Athletes dressed in red are more likely to win events than athletes wearing any other colour. Does this mean we’ll be seeing you in red on that day?

FACT 4

12 of the world’s top 20 distance runners are members of the Kalenjin tribe of northwest Kenya. You won’t be seeing the Kenyans at the run, meaning you have an even greater chance of winning cool prizes.

FACT 5

The youngest marathon runner is Budhia Singh who completed 48 marathons by age 5. The oldest person to complete a marathon was Fauja Singh from India, he was 100 years old at the time. Even more interesting is the fact that Fauja didn’t start running until he was 89 years of age. It’s never too late. Start with this run/walk.

FACT 6

Music can boost your running performance by up to 15%! But if you fall under number 2, 3 or 4 of our six types of runners breakdown, you may not be needing music after all.

FACT 7

Did you know that eating baked beetroot can improve your running performance? Now beetroot might not be your idea of a yummy snack before a run/walk, but if it gives you that Usain Bolt kinda rush, why not?

FACT 8

Stretching before a run will make your body less efficient making you unable to run as far. Just like every other workout, it is best to start out with a dynamic movement sort of warm up. And guess what? We have just the right kind of fun warm ups for you on D-day.

FACT 9

According to research, running is an excellent way to increase your creativity and boost your productivity at work. The work week right after RFTF 5 suddenly looks super productive!

It’s four weeks to Run for the Future 5. If you haven’t registered yet, what are you waiting for? Register here now.

The post 9 interesting running facts appeared first on Realising Ambitions.

Source: Articles

In the news: Pension assets rise to N7tn

In the news: Pension assets rise to N7tn

Punch

2017 budget: Reps raise concerns over 15% capital releases

Members of the House of Representatives are unimpressed with what they term “poor capital releases” for the 2017 budget just as President Muhammadu Buhari is set to lay the 2018 estimates before the National Assembly.

BVN court ruling: Bank heads to meet, Nigerians in diaspora kicks

Company secretaries and legal teams of 19 Deposit Money Banks in the country will on Tuesday hold an emergency meeting to fashion out modalities to comply with a court order directing commercial banks to freeze bank accounts without the Bank Verification Number and publish names and details of the customers.

Pension assets rise to N7tn

The total assets under the Contributory Pension Scheme rose to N7.09tn as of the end of August, this year.

Kaduna refinery dormant, PH, Warri producing below 30% — NNPC

The latest monthly oil and gas report released by the national oil firm showed that the cumulative capacity utilization of the nation’s three refineries dropped further from 12.73 per cent in June to 11.94 per cent in July 2017.

Skye Bank, First Bank to take over Evans Medical

Evans Medical Plc, on Friday, informed its shareholders and other stakeholders as well as the Nigerian Stock Exchange of the move by Skye Bank Plc and First Bank of Nigeria Limited to take over the company.

This Day

Dangote Cement Controls 65% Market Share

Dangote Cement, with plants spread across Africa,   has maintained its dominance in the Nigeria domestic cement market accounting for 65 per cent of the Nigerian market volume.

CBN Sells N140bn Treasury Bills

The Central Bank of Nigeria (CBN) last week auctioned treasury bills worth N133.79 billion via primary markets.

Nigeria’s Fixed Income Market Records N103 Trillion in 9 Months

The value of investments in the Nigerian fixed income market in the first nine months of 2017 is put at N102.88 trillion.

MTN, Airtel, ntel, 13 Other Firms Scramble for 9mobile

The scramble to acquire 9mobile, Nigeria’s fourth largest network operator, promises to be very competitive, as 16 firms have submitted expressions of interest (EoIs) to Barclays to bid for 9mobile.

DMO Clarifies Position on $5.5bn Proposed External Capital Raising

The Debt Management Office (DMO) has clarified the plans of the federal government to source funds from the international financial markets.

Vanguard

CCNN Plc: Stock rebounds, but below expectations

In a series of rebounds recorded by early birds in  the nine-months 2017 financial results season, stocks of Cement Company of Northern Nigeria Plc, CCNN, returned to double digit last weekend on the strength of the impressive results it announced that day.

Lafarge rebounds to profitability, to list N25bn commercial paper this month

Lafarge Africa Plc has returned to profitability and has concluded plans to issue N25billion in Commercial Papers from a  60billion programme in October and list on the Financial Market Derivative Quote.

Wema Bank secures shareholders approval for capital reduction

Shareholders of   Wema Bank Plc have approved the plan by the bank to reduce its share premium capital by N40.172 billion to N8.698 billion from N48.870 billion.

The Nation

NSE downgrades 7-Up from special pricing status

The Nigerian Stock Exchange (NSE) has downgraded Seven-Up Bottling Company Plc from its special pricing status category following the depreciation in share price of the company.

World largest brewer gets shareholders’ approval to merge Nigerian subsidiaries

Shareholders of three Nigerian subsidiaries of Anheuser-Busch InBev have approved the plan by the world largest brewer to merge and consolidate its Nigerian businesses under a publicly quoted entity.

Guardian

Zenith, others lift NSE’s volume as investors stake N14b in equities

Heavy transactions in the shares of some banks, especially GTBank and Zenith Bank, last week, lifted the volume of shares traded.

Reuters

BW Offshore wins 4-year contract extension offshore Nigeria: Sendje Berge Limited, a subsidiary of BW Offshore Limited, has now agreed terms of a contract extension for the FPSO Sendje Berge with Addax Petroleum Exploration (Nigeria) Ltd on the Okwori field offshore Nigeria which have been duly submitted to relevant Nigerian Authorities for their review and approval.

 

The post In the news: Pension assets rise to N7tn appeared first on Realising Ambitions.

Source: Articles

In the news: NSE’s market capitalization depreciates

In the news: NSE’s market capitalization depreciates

Punch

House probes TCN’s $1.5bn, $500m foreign loans

The House of Representatives has queried loans totaling $1.5bn taken from foreign creditors by the Transmission Company of Nigeria.

World Bank: We’re on the same page with FG on borrowing

The World Bank says it is not in disagreement with the Federal Government on the need to borrow to finance infrastructure.

Agip pushes ahead with 150,000bpd refinery plan

The Nigerian Agip Oil Company, a subsidiary of Italian oil major, Eni, said it had begun feasibility studies for the construction of a new 150,000 barrels-of-oil-per-day refinery in the Niger Delta.

Intels: Reps ask NPA to reverse contract termination

The House of Representatives on Wednesday asked the Attorney-General of the Federation/Minister of Justice, Mr. Abubakar Malami, and the Nigerian Ports Authority to reverse the termination of the logistics contract between Intels Nigeria Limited and the NPA.

NSE suspends trading on Oando shares

The Nigerian Stock Exchange on Wednesday has said that it has suspended trading in the shares of Oando Plc from October 20, 2017.

This Day

Customs Revenue Fraud: N140bn Recovered From Erring Firms, Banks, Says Senate C’ttee

The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport has disclosed that about N140 billion has been returned to the coffers of the government by firms and banks found culpable in its investigations into revenue leakages in the Nigeria Customs Service.

Kachikwu, Baru Meet Osinbajo on Zabazaba Oil Field, Other Industry Issues

Away from the raging controversy over contract award and appointments in alleged breach of due process, the Minister of State for Petroleum, Dr. Ibe Kachikwu and Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, wednesday met Vice President Yemi Osinbajo in the State House, Abuja.

FG Cautioned on Use of Corporate Tax Incentives to Achieve Projects Implementation

The Civil Society Legislative Advocacy Centre (CISLAC) has cautioned the Federal Government to avoid institutionalizing a policy of granting long-term tax incentives to corporate businesses to achieve project implementation.

Telcos Challenge NCC to Lead Mobile Money, Cashless Initiative

Telecommunication Operators (Telcos) have called on the Nigerian Communications Commission (NCC) to take urgent steps to lead the mobile money and cashless initiative in Nigeria.

Guardian

NSE’s market capitalization depreciates further by N9.7b

Transactions on the trading floor of the Nigerian Stock Exchange continued on a downturn trend yesterday, as virtually all the blue chip companies depreciated in price, resulting to a further decline in market capitalization by N9.7 billion.

NBET pays N10.8b to Gencos for electricity delivered in July

Nigerian Bulk Electricity Trading Plc. (NBET) has paid the Electricity Generation Companies (Gencos) the sum of N10.825 billion out of the total invoices of N45.24 for the energy delivered in July 2017.

The Nation

NLNG pays $4.1b taxes to govt

The Nigerian Liquefied and Natural Gas (NLNG) Limited has, in the past six years, paid $4.1billion in taxes, including Company Income of Tax (CIT), to the Federal Government.

Business Day

Indigenous oil firms step up production by 200% in June

Sixteen Nigerian indigenous oil producers who operate in partnership with international oil companies called independents, accounted for over 7.486 million barrels of crude oil in June.

The post In the news: NSE’s market capitalization depreciates appeared first on Realising Ambitions.

Source: Articles

How We should think about money- Busting Money Myths (2)

How We should think about money- Busting Money Myths (2)

In the previous edition, we discussed popular money myths that have governed our financial philosophy and hampered our desire for financial freedom.

It is important to realise that money is basically a tool and the results it yields depend largely on how we use it.  Financial decisions, little or great, must be well informed and thought-out, factoring the future, near and far. By taking control of your finances, you can work towards financial freedom, regardless of your background or status. The following are critical factors to consider in shaping our philosophy about money and positioning ourselves for financial growth.

  • How many income sources do you have?

You need to have revenue before considering financial growth. The first key factor to consider is your income source. How consistent is your income? Are there opportunities for extra income worth pursuing? An extra income source is always a plus on the journey to financial freedom.

  • Are you living above your means?

If you are spending as much as you are earning, you are living above your means. To attain financial freedom, you need to segment your revenue to leave room for savings alongside catering to your needs. Warren Buffet advices that we spend only what is left after we have saved.

  • Do you have achievable financial goals?

What are your financial goals? To buy your own home or raise capital to start your business? Whatever it is, ensure that your goals are SMART – Specific, Measurable, Attainable, Realistic and Timely. It is also wise to have a trackable plan towards achieving your goals.

  • Do you have a financial plan?

Everyone should have a financial plan, both short term and long term. A financial plan helps you manage your finance by giving you a clear picture of what you have, what you need and what you will do to get what you need. If you require further knowledge about financial plans and how to create one, contact us to speak to a professional financial adviser.

  • What is your attitude to debt?

Except in situations where it is tactical and strategic (for the purchase of an asset), borrowing is often a pit as it deducts from your future revenue before it even arrives. As much as possible, work towards managing your finances without resorting to loan, especially personal loans.

  • What is your attitude to investments?

Savings is good and is essential for anyone pursuing financial freedom. Investments are however one step ahead of savings your money is not only preserved but also grown. Depending on your risk appetite, financial plans and goal, invest in asset classes comfortable for you.  You could consider treasury bills, stocks, bonds, mutual funds or even real estate.

  • What is your retirement plan?

It is never too early to start preparing for retirement, especially if you hope to retire rich. Setting aside a sum every month to your pension is an investment in the future. Where possible, consider Additional Voluntary Contributions for increased retirement savings and reduced tax load.

  • Are you covered?

As you advance in life, financially and otherwise, it is important to consider insurance options available to you. Insurance helps guide against unnecessary loss in the face of unplanned circumstances and ensures our families are protected, should anything happen to us. As your assets and wealth increase, estate planning is an option you should consider. Wills, Trusts, and other estate planning instruments leave your assets and loved ones protected without hampering the growth of your investment.

Conclusively, financial freedom is attainable and worth striving for. Give it a try this new year, change your orientation about money and choose to become the master of your money, deliberately putting it to use. You will be amazed at the growth you will record as the year progresses.

Should you require further information, write to us at [email protected] or connect with us on social media- Facebook, Twitter, and LinkedIn. You can also call 0700 CALLARM (0700 2255 276) or visit our Investment Center nearest to you.

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