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The Nigerian Complex State – What Went Wrong

2013-05-17T16:39:00.000+01:00

Do you know that it is a blessing to be a Nigerian or being born in Nigeria? I know most readers would not agree with me. Instead of being born in this complex state, called Nigeria, it would have been better to be born in any of the developed western countries such as; America, Asia, Europe or even in an African country like Gambia or Mozambique. A Country that is gradually loosing grip of its past glory; even in the eyes of other Countries that once adored and respected Nigeria as a leading power-house in the whole of sub-Saharan Africa. According to the Mo Ibrahim African Governance Index Report for the year 2011 ranked Nigeria 41^st out of 53 African Countries in its governance index report in various four governance indicators. What actually happened to the giant of Africa?

A country that is full of greatness, wealth, creativity, industrious, honest, and hardworking people. I remember those glorious days growing-up as a kid; I always look forward to school with great nostalgia feelings. I will hang my school lamp sack over my slender shoulders and happily collect my pocket money of 50 kobo for each day. I would judiciously save my daily 50 kobo(s) in my constructed wooden box. After one month of ‘sowing’, I would ask my mother to please unlock the save box as I waited patiently for my ‘harvest’. You would not believe how much I have saved, which was shared into three portions; one for a new sandal, the second for folktale story books, and lastly for sweets. Trust children, I would quickly rush to the Mallam kiosk, to buy for myself cubes of Chocomilo sweet as much as the remaining balance could afford. Tell me how many children of present days would adopt my saving and spending culture despite the over 200 per cent inflation rate we are experiencing now?

Growing up then was very memorable, as the environment was relatively peaceful, pollution free, steady power supply and mild traffic. My parents made it a ritual to travel home (village) as a family once every year to see our Grandparents and other relatives as it was fun embarking on such trips. Unlike today, you have to psyche yourself for weeks and source for the funds to embark on such journey. Even as middle-class citizens, we could afford whatever we desire. Unfortunately, the Nigerian system of governance has systematically killed the ‘Middle Class’ status. It is either you are rich or poor. However you are going to make it rich, no one cares. I am not saying that we don’t have incidence of corruption, crime or canny tendencies in the 70s or 80s, but such misdeeds were done in a bearable and pardonable manner. Unfortunately, most of us cannot bear or pardon the kind of misdeeds we witness these days. Ranging from the huge misappropriation of state funds by our Political office holders and Civil servants, Corrupt practices by our Legislators, the senseless murder of innocent citizens by our ‘trigger happy’ policemen and the incessant bloodletting by various ethnic and religious groups in the country. Nigeria has now been engulfed with terrorism acts with minimal achievements by our security agents in curbing the menace. We leave all these for God to judge.

Nigeria’s independence in 1960 marked a new horizon for the country to establish herself in Africa and in the world at large. Pathetically, our elder statesmen never envisaged that the promising Nigeria of old could come to this abysmal state. Would we blame the discovery of crude oil in the late 60s as God’s undoing? The Almighty creator has blessed us so abundantly in both rich human and natural resources to take care of our needs. A Country like Malaysia came on a fact finding mission to Nigeria in the 70s, and went home with palm kernels. It took them a great deal to plant, grow and harness the cash crop over time to be one of the highest exporters of palm oil and palm kernel fruits in the world. No wonder our brothers are rushing over to Malaysia to carve a living for themselves as the Country is better equipped with infrastructures and amenities. What has happened to our own Palm kernel, Cocoa, Groundnut, Coal, Steel, Tin, etc. Only if our government could re-invest in 2 or 3 of these naturals resources to an optimal level of production, this would definitely lead to foreign exportation that would yield good national revenue to the country. However, the only good invention we can boast of today apart from the crude oil and Gas is Cassava bread. Has the bread gotten to the markets, as am yet to have a bite? Kindly let me know where to get a loaf.

We are in a country where political office holders are being recycled all over and over again. Have our people lost consciousness of events of yester years? Please let me borrow some lines from Mr. Abuoma Chuka’s master piece: “Sinners in Paradise” in the Daily Sun Newspapers of July 18, 2012 and I quote “Nigeria is the only ‘paradise’ where sinners are empowered to make Laws, assigned to be Ministers, selected as Governors, appointed to be Judges, employed to be Security personnel and force themselves as Presidents into the throne of our nation.” If you think he is done, then you need to hear this; “Nigeria is a state where ‘Saints’ are in prisons while ‘Sinners’ are in paradise. ‘Saints’ are jobless in the streets, while ‘Sinners’ are enjoying in the ‘Sanctuary’. Most interestingly, the Nigerian people have learnt their lessons and are now with their gauntlet, deciding who governs them by electing the right candidate(s). Remember that the people’s mandate carried the day in the last gubernatorial elections in Imo state by pitching their tents with Owelle Rochas Okorocha over the incumbent and recently in the Edo state governorship elections that brought back Comrade Adams Oshiomhole in their July elections. Biblical speaking, we should know that the voice of the people is the voice of God.

I see the Nigerian people have woken up from their slumber to work and choose their leaders. What role is the church playing to mold a good leader to salvage us from this problem of leadership? The Nigerian state have been that lucky not have plunged into another civil war despite all the failures and wrongs we are experiencing now, yet our so called leaders are yet to come out with the right solution. People of other countries could not understand our strong unity in the midst of insecurity and corruption as we still go about our daily activities unabatedly. I have that consolation that anything that has a beginning no matter how bad must have an end. Whatever that has gone wrong in the Nigeria state, would be a thing of the past and the people would be better for it.

However, to achieve this victory over stagnation, poverty, anarchy, unemployment, corruption, depression, hunger, despair, insecurity, etc, we must trust God Almighty for breakthroughs. Our good Lord has affirmed to us in 2^nd Chronicles 16:9; “the Lord keeps close watch over the whole World, to give strength to those whose hearts are loyal to him...” How strong is our heart to keep on trusting and believing in Him? It is high time we started coming out from our shells of ignorance, complaints and despair to make a difference in solving our national problems. Nigeria needs good and visionary leadership in providing a sense of direction in achieving individual and collective goals that would help to harness, manage, utilize and distribute the limited resources to cater for the basic needs of the masses. Can we really find a true leader that would do the work of good governance devoid of corruption and selfish interest in this country? By doing your own bit, the people (voice of God) would divinely identify you to help salvage this quagmire we find ourselves. That brings me to words of Sidney Powell; "Try to forget yourself in the service of others. For when we work for others, our efforts return to bless us." Certainly, Nigeria needs a God-fearing, Visionary, Committed and Charismatic leader(s) that would lead us to the promise land.

The Nigerian state should be a great paradise indeed and I am proud to be one of its inhabitants. We have all what it takes to be one of the best developed and growing economies in the world. However, the first step of re-invigorating and re-orientating our people must be through the Churches or Worship places as the case may be. Let the Church(s) continue to recite the National prayers; “Prayer for Nigeria in Distress” and “Prayer against Bribery and Corruption” in order to fight this impasse. It has worked for us in the past and it would presently, because there is awesome power in prayers.

I therefore, call on all Religious faithful, Lay faithful, Administrators, Diplomats, Royal fathers and all Leaders of thoughts to rise to the occasion in fighting this ‘illness’ of the Nigerian state, else we might be inviting an unprecedented chaos that would split this country into rubbles. May God forbid, please can I hear a big AMEN?

Getting Started With Your Monetized Website/Blog Makes Easier and Earn Income Monthly

2012-02-14T22:50:00.001+01:00

Doing something that benefits someone else is simply the only reason why you or anyone else will make money as human needs are insatiable. We live in a world where constant fear of poverty envelopes our self consciousness, hence the need to generate income. You would agree with me that only one source of income in a place like Nigeria, most populous black Nation in the world, is never enough as our staggering economy cannot be relied upon.

As a graduate for more than 5 years, I have come to terms of getting a second career to make ends meet as the government has failed in her responsibility in creating jobs for a growing population work force. Unfortunately, some employers enslaved their employees by paying them peanuts as graduates despite the high cost of living in notably cities like Lagos, Port-Harcourt, Abuja, Enugu, etc in Nigeria as these employees are at the mercy of their bosses for fear of being out of job. However, credit must be given to some Non Governmental Agencies (NGOs) in organizing workshops such as Small Scale and Medium business program for training the unemployed to acquire a skill with assistance from corporate firms. This should be done from time to time as continuity is a key factor to sustain the dream.

Do you know that the popular Search Engine, Google.com is worth $174.83 billion, and it is currently the biggest media company in the world? It is bigger than notables like Time Warner, the company which owns Time Magazine, CNN & America Online; it is bigger than Viacom, the owners of MTV and Paramount Pictures. In fact, Google is worth more than all the companies quoted in the Nigerian Stock Exchange combined! This includes Mobil, OANDO Plc, Guinness Plc Nigerian Breweries Plc, Guaranty Trust Bank and all the other banks quoted combined! A single Google.com share costs more than $450 and it is projected to reach $600 a piece sometime next year - that's more than N50, 000 a piece (compare this to that of say Zenith bank that sold for about N55 - when the going was good. Google has provided a means of generating income for individuals and corporate organizations like you.

Job security today does not lie in working for any 'big, secure' establishment. It lies in your own ability to do something on your own - at any given time. To be financially secure today, you have to adapt to the new nature of things. You have to adapt to The Era of Zero Job Security and the Age of Mega Successful Small businesses. You will agree with me that Nigeria is still a developing country and unfortunately we are still passing through stages of development despite our 50 Years Independence! Hence, the earlier we sought for a change the better for us and that of our generations unborn. Get these wonderful business ideas by ordering the money e-book package today for you to get started and be financial buoyant.

My Organization has thought of a convenient method of passing this great information in building your income through Google. Please get these wonderful business ideas by ordering a money e-book package today for you to get started and be financial buoyant.

How Do I Participate..

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The Peaceful Protest of the Suspended Imo '10,000' Workers At The House of Assembly

2012-02-14T21:28:00.000+01:00

This video shows some of the unjustly suspended recruited '10,000' youths of Imo state, Nigeria by the state government on June 6th , 2011 protesting peacefully at the Imo State House of Assembly, Owerri on why the State Government have not re-instated them back to the Civil Service after the state screening exercise in all the Local Government Areas of the state. This is one of the many protests of this embattled young Imolites without any positive response.

Hope the the led Owelle Rochas Okorocha government would recall them in his "Imo Rescue Mission" mandate before the end of his tenure. Wishing him the best.
Remember, Imo Must Be Better.

Long Live the Youths of Imo State!
Long Live Imo State!
Long Live Nigeria!!

The Proposed Islamic Banking By Central Bank Of Nigeria - The Way Forward

2011-09-15T17:53:00.000+01:00

The Banking institution is a place where individuals or corporate organizations alike deposit their money for personal or business transactions for the purpose of savings, current or fixed transactions that would yield profit over a particular period of time. Nigeria as one of the growing economies of the world has taken the right step to restructure the banking system in the country. Dating back to the year 2005 where all the existing banks were mandated to re-capitalize to a minimum balance of Twenty five billion Naira or risk losing its operating licenses during the leadership of Prof. Charles Chukwuemeka Soludo, the then Governor of Nigeria's apex bank, Central Bank of Nigeria.

Interestingly, this paved way for an organized and thriving banking sector where some of the banks met the expected benchmark while others merged and few dropped by the wayside. Nonetheless, this reform created free flow of capital funds for the banks to play around with - ushering of universal banking. One would not forget the role the banks played in the Capital market during the boom era where investors' borrowed loans or applied for a margin loan facility from these banks ranging from 7% to 20% interest rates in order to reap bountiful profits on their appreciated stocks invested. Unfortunately, the proliferation of all manner of deals in our capital market over time accounted for the down turn of the economy. It must also be mentioned that Africa was not alone in this economic impasse as most countries of the world suffered the same fate including the United States of America.

In their bid to restore the good old days, economic experts and world scholars proffered solutions to revive the economy. Nigeria was not left out in the fight. With the emergence of Mallam Sanusi Lamido Sanusi as the next Governor of Central Bank of Nigeria succeeding Prof. Charles C. Soludo, he swung into action to continue on the good works of his predecessor. Between 2009 and 2010, about five bank chiefs were indicted and prosecuted for wrong use of depositors funds ranging from personal misappropriation of funds, unauthorized loans with no collateral and wasteful expenses. Whileothers are presently on trial. Having seen the good works of the new Central Bank of Nigeria Governor, the Presidency recently established the Asset Management Corporation of Nigeria. The objectives of the Asset Management Corporation of Nigeria is to acquire 'toxic' assets of the troubled banks and would take majority shareholding of the insolvent banks after plugging their equity shortfalls. The public commentators commended the government for this initiative which gradually restored the confidence of the investors to invest in both the money and capital markets. No wonder in 26 April 2011 the prestigious Times Magazine honored Sanusi Lamido Sanusi as one of the 100 Most Influential People in the World in a grand Time Gala Award ceremony held in United States of America. Though, in as much as the reforms may seem to check the excesses of the bank operations, the adverse effects are quite frightening as the capital and money markets are presently witnessing low investors confidence following another purchase of three banks (Afribank, BankPHB and Spring Bank) by three relatively unknown companies (Mainstreet, Keystone and Enterprise) respectively on August 5th, 2011 by the Sanusi led Central Bank of Nigeria.

However, at the beginning of 2011, Mallam Sanusi Lamido Sanusi re-opened the implementation of Non-interest banking, popularly known as Islamic Banking, which was initially introduced by his predecessor as one of the verifiable tools to revive the negatively skewed economy. According to Wikipedia, Worlds free encyclopedia, "interest-free banking seems to be very recent origin whereby a working partner gets a greater profit share compared to a sleeping (non-working) partner" What this simply means is that both the banks and investors (working partner) would get a greater profit share after a certain business transaction. One would ask, would this build the economic growth of the nation as being practiced in United Kingdom,

Malaysia

, etc? Definitely, it would build the fortunes of our economy but how we go about it is what is technically wrong. Please read Business day online of 29th June, 2011 for more explanation. The CBN Governor has the right to talk about the benefits of any product or scheme the apex bank is rolling out, but attaching more of the religious sentiments than professional cum economic gains, would sway the country to a very rough edge.

This proposed style of banking has generated heated arguments and debates across sections of the country. Remember that Nigeria is a secular state with almost equal number of Christian and Muslim faithful in population not to talk of other religious and traditional groups. For instance, the leadership of the Christian Association of Nigeria (CAN) has strongly opposed to the implementation of the Islamic Banking citing some wrong approaches by the Sanusi led Central Bank of Nigeria as using the state funds to promote the implementation of the scheme with no recourse to other religious groups in the country. The country is still facing serious security threats arising from kidnapping, militancy and most worrying, the terrorist attacks by the dreaded sect, Boko Haram especially in the Federal Capital (Abuja) and other northern parts of the country. It is surprising to know that the Presidency have been silent on the matter which needs an urgent intervention to put the facts right as the masses want better governance in terms of economic and social-political gains.

Whatever the outcome of the proposed Islamic Banking by the Central Bank of

Nigeria

would be, the apex body should please consider the following points as the way forward:

1. That the implementation processes of the non-interest (Islamic) banking should be done in strict adherence to the laid down procedures of the regulatory authority - Central Bank of

Nigeria

2.That It should also have greater benefits for the investors of the Islamic banking without directly or indirectly affecting other investors of interest banking in the same sector.

3. That the Central Bank of Nigeria should please continue to create more public awareness of the non-interest (Islamic) banking by having a round table discussion with all stake holders which includes: Religious sects, Economic experts, Law makers, Government officials and the Media to douse any misconception of the proposed scheme.

The fact that the non-interest (Islamic) banking with its' numerous economic benefits as been practiced by some countries of the world, the Central Bank of Nigeria under her current leadership have to convince the over enlightened 55% Nigerians on its benefits without negatively affecting the other interest party for economic growth and tranquility.

How To Earn A Lucrative Income From Online Business In A Nigerian Economy

2011-03-05T09:01:00.008+01:00

Creating a plan that best suits your target audience in order to sell your idea or services are simply the only reason why you or me will make money as human needs are insatiable. We live in a world where constant fear of poverty envelopes our self consciousness, hence the need to generate income. You would agree with me that only one source of income in a place like Nigeria, most populous black Nation in the world, is never enough as our staggering economy cannot be relied upon. Our dear President, Dr. Goodluck Ebele Jonathan, has budgeted a more than N10bn to address the malaise of unemployment in the country. Will this drive yield positive result at the long run as the nation prepares for yet another general elections of 2011 amidst court injunctions, national securities and socio-political uncertainties of the country?

As a graduate for more than 5 years, I have come to terms of getting a second career to make ends meet as the government has failed in her responsibility in creating jobs for a growing population work force. Unfortunately, some employers enslaved their employees by paying them peanuts as graduates despite the high cost of living in notably cities like Lagos, Port-Harcourt, Abuja, Enugu, etc in Nigeria as these employees are at the mercy of their bosses for fear of being out of job. However, credit must be given to some Non Governmental Agencies (NGOs) in organizing workshops such as Small Scale and Medium business program for training the unemployed to acquire a skill with assistances from corporate firms. This should be done from time to time as continuity is a key factor to sustain the dream.

To get full benefit of this programme highlighted above you must own a Blog or Website as a platform as an individual or corporate organization. As a corporate entity you will definitely showcase your goods and services on net for people to know more about your business, example of such companies are Cadbury Plc, The Guardian Newspapers, Guinness Plc, etc. While that of individuals, you specialize in an area that is unique to you. I mean you can write on anything in your area of interests and get it published online. Gone are those days when we raise huge capital and queue for our books to be edited and get published. Now you can publish a book of more than a thousand pages without spending a dime. And with one of such books online you could be making a fortune by selling it online. I know it may sound difficult sitting down and writing a book but you can also resell some e-book that has reselling rights by buying one of them. There are thousands of written materials already out there with full Resell Rights. A product or material with resell rights means that you can sell the material to other people without it being illegal to do so - as if you actually wrote it! This sounds interesting?

You will agree with me that Nigeria is still a developing country and unfortunately we are still passing through stages of development despite our 50 Years Independence! Hence, the earlier we sought for a change the better for us and that of our generations unborn. Get these wonderful business ideas by ordering the money e-book package today for you to get started and be financial buoyant.

My Organization has thought of a convenient method of passing this great information on building your income through Google. Please get these wonderful business ideas by ordering a money e-book package today for you to get started and be financial buoyant.

How Do I Start..

As part of our program to build a steady income for you, you can get started with Google Adsense by paying for the following service package;

1. Creating Your Monetized Blog/Parked Domain Sites: N3,000.00

2. An ebook package on Getting Started With Google Adsense: N2,000.00

TOTAL: N5, 000.00

Please Pay the sum of Five Thousand Naira (N5, 000.00), only into any branch of Guaranty Trust Bank Plc of Nigeria nationwide or its equivalent wherever you are internationally with the following Bank Account details;

Account Name: Amaole Uzoma B. Richard

Account Number: 0012347541

Sort Code: 058152243

After making your payment, please send a notification email to uzzimen@yahoo.com with the Subject: 'Payment Order Made'. Please include the following details in your email:-

Name:

Address:

Phone number:

Payment slip number:

And "Receive your ebook Package within 24 hours” while we create your unique Blog and free Domain! Therefore, we employ you to order this package today, study it, use it, make money from it and if for any reason you are not completely satisfied with it, you can always call on us for guidance as your guarantee.

For more information on this, please call Richard on;

234 803 372 7458.

How To Know Your Stock Investments

2010-10-14T17:55:00.002+01:00

Having a fair share of the over two year’s downturn of the capital cum stock market, it becomes imperative for one to be vigilant in investing the right stocks. Most investors usually play to the gallery while investing in their choice shares or stock investments. We should lay more emphasis on the capital base, performance and book value of a particular quoted company from their End of Year results.

The term 'Investment' is simply an act of putting aside a certain percentage of your income to generate profits on your invested capital. We have various forms of investments available to us such as; Bonds, Equity Shares, Forex, Insurance, Real Estates, etc. However, emphasis would be on how to understand the dynamics of investing in the stock market.

Prior to the market slip, most investors had one thing at the back of their mind; how do I make good profit from this company I am investing in for now and in the future? Therefore, apart from giving mandates to your Stock brokers or Agents to buy stocks, many investors hardly care much about monitoring or determining the values or movements of the market price of these stocks other than anticipating the proposed Dividends and Bonus shares given at the end of the company year results.

In the area of debt management, investors must not go too deep in investing stocks on borrowed funds. Technically, this is called Margin debt or Margin trading. Margin debt is a tool used by stock market speculators to increase their stock trading profits. Investors borrow money from capitalized Finance Houses or Banks to buy more stocks than they could otherwise afford on their own. During the happy days of thriving economy, most investors plunged a lot of funds in the stock market for greater profits in the sector which gave rise to the market boom. Investing in stocks was the order of the day as everyone was investing without understanding the basic indices of the company shares they are buying into. Its’ risk margin is higher than that of its’ profit margin. Therefore, as some countries of the world have recovered from the market crash, investors should tread softly when engaging in borrowed funds (Margin Debt) in their investments.

Another habit Investors must adhere to while investing in stocks is to shun greedy tendencies. Investors should be contented with the funds available to them while buying stocks. This would enable them to manage their resources and make great turnover within a period of time. The major factor that resulted into the market (Economy) meltdown, it is our greed to make money overnight. The third richest man in the world and great stock investor, Warren Buffet, in his teachings advised that wise investors must not follow the greedy ones in buying popular stocks but should invest in an unpopular but promising one as the former may crash in just one slip. Some stock’s prices move slowly and within a relatively narrow range, while others bounce up and down a lot.

In knowing your stocks better, investors should get updated through all means of information available and seek the advice of financial advisers as understanding these essential values of stock investment forays will place you in the front burner to succeed in the stock market.

Student Loans As The Best Financial Aid

2010-08-13T08:35:00.000+01:00

By Uzoma Amaole

Applying for loans from banks to cover for study expenses may not augur well with the student applicant as the loan usually comes with high interest rates. This may not be the best option for a young student going by the huge financial involvement in paying for the tuition, text books and accommodation fees per session. The best financial aid for students, resident or international, is by applying for a Student Loan.

A Student Loan, like other assisted loans, helps the students to pay for their University or College expenses such as; tuition, books, accommodation and living costs. The interest rate of the loan is significantly lower than other loans and one can make the loan repayment concurrently while the students' educational program is still running.
Another school of thought, advises students seeking for loans to utilize other options. Such options could be; Grants, Scholarships, Personal Savings; which does not require any form of repayment. Unfortunately, these options may not cover all the necessary university costs. As a student, if you need financial assistance for your schools' expenses having exhausted other forms of aid, utilize the student loans.

In some countries, such as United States of America (USA), Canada, United Kingdom and Australia, they place more emphasis on the use of student loans for their citizens.
In the United States for instance, offers three forms of student loans: two of such loans are sponsored by the Federal government and the other by private student loans. The United States uses a federally guaranteed student aid program to help college students pay for their education. The program allows students to borrow money at a reduced interest rate and defer payment until they are no longer in school. Student loans are generally offered as part of a total financial aid package that may include grants, scholarships, or work study opportunities.

In as much as one places high importance to this kind of loan, it has not been free form criticisms. One of such critics is other forms of assistance like the federal grants and scholarships endowment funds from government or private institutions. They feel that such loan should have a soft landing for students who may not be able to pay up before the stipulated period. The borrowers also feel victimized when things go wrong in the plan which could be attributed to insufficient knowledge of the terms of the loan and sometimes are denied the privileges of the loan when befallen by natural disability.

It is advised that students should seek a financial expert when applying for a loan to guide him or her in the terms of offer in order to avoid undue complaints or high interest rate repayments that may result from the loan application.

On the positive side, however, another great facet of student loans, especially federal, is that they may be subsidized. Subsidized Stafford Loans are for students with financial need determined by their financial provider. The government subsidizes the loan and pays the interest for you while in school. This is a key difference between federal loans and private loans. Even though private loans offer numerous benefits, you just cannot compete with the subsidized federal undergraduate loans.

Therefore, to know more on other related loans, please Click Here!

The Removal of the Director General and President of Nigerian Stock Exchange by the Securities and Exchange Commission.

2010-08-12T09:04:00.000+01:00

RE: A Plus or Pain

With the news of the removal of the Prof. Ndi Okereke-Onyiuke and Alhaji Alinko Dangote, Director General and President of the Nigerian Stock Exchange (NSE) respectively by the leadership of the Securities & Exchange Commission (SEC) on the 5th August, 2010 has been characterized with all sorts of controversies.

This came as a shock as most investors are looking towards brighter days as the NSE recently approved the operation of the Asset Management Company of Nigeria (AMCON) as a positive tool to revive the bearish market.

Interestingly, NSE is a self regulatory authority of the Nigerian Stock Market and a non-governmental organization with board of council steering the affairs of the exchange. They also see to resolve any financial dispute involving the shareholders/investors and the market operators.

The Securities and Exchange Commission on the other hand is also a self regulatory body that oversees the running of the Nigerian capital market and registration of all financial companies according to the Companies and Allied Matters Act, CAMA. They also receive all high or sensitive stock transactions records from all the stock broking firms as part of compliance to the rules and regulation governing the market.

Firstly, let’s look at the causes that led to the sacking of the two top helmsmen of the NSE.There has been a bitter face off between the Director General and the President of NSE overtime. This has been evident with the ongoing litigation, allegations of financial mismanagement, governance challenges, and the inordinate delays in the implementation of the succession plan for the exchange. Just recently, Alhaji Alinko Dangote publicly came out with the bomb shell that the NSE is broke. This further fuelled the non confidence imposed on them by the worried Nigerian investors.

According to the D.G of SEC, Ms. Arunma Oteh, yesterday (August 5, 2010) declared that “the removal of the Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyiuke and its’ President, Alhaji Alinko Dangote was in the best interest of the capital market and investors as enshrined in the Investment and Securities Act (ISA) 2007”.

The Poser..

Do you think that the leadership of SEC was hasty in their decision to remove the aforementioned individuals without due investigation into the matter before releasing the sledge hammer? Or was it done in good faith to protect the Nigerian Capital market according to the words of the Ms. Arunma Oteh? Also, would you concur to the appointment of a forensic expert, Mr. Emmanuel Ikhazoboh to head the NSE in the interim without vast experience of the Nigerian Stock Market?

With the ongoing NSE shake-up, are we going to experience another twist as it was done in the banking industries by the Sanusi Lamido Sanusi led CBN? The difference between the NSE shake-up and that of the CBN Reforms was that the former did not investigate in the allegations rocking the NSE before taking actions.

Would you conclude that these actions by SEC would bring about a Plus or Pains to the Nigerian Capital Market as Nigerian investors are not certain with the uncertainties of the Nigerian Capital Market?

Your comments would be highly appreciated.

For your other financial tips please Click Here!

Usefulness of Auto Insurance

2010-08-06T15:42:00.000+01:00

By Uzoma Amaole

The world we live in was created for humans to meet with different necessities of life for all mankind. In man’s quest for the provision of basic things of life, he has created a niche (inventions) for himself to suit his or her needs and comfort. The world can now boast of great inventions such as; electricity, motor vehicle, bulbs, airplanes, bell, medical drugs, etc.

In all wisdom, there is one aspect of life that man cannot determine is life’s contingencies. In order to protect an unexpected loss of life and properties, Insurance serves as the back bone to such contingencies.
Of primary concern, Auto Insurance is a part of insurance that has been useful to individuals and corporate organization depending on the State’s terms of policy. Assuming a vehicle driving down the road and makes a sudden decision in a lapse of judgment that results in causing damage to another and personal injury to the affected driver and his or her passengers. But an auto insurance policy covers the affected people. Imagine a world without insurance.

Auto Insurance is a policy purchased to protect a car (vehicle) and people inside in the case of theft or accident. There are different policies covering different situations and state regulations will determine how they work in some cases. In most states, there are various auto insurance available to us. Would discuss three of such policies;

i. Personal Injury Insurance
ii. Third Party Insurance
iii. Comprehensive Insurance

As the name suggests, Personal injury insurance covers for the affected driver and his or her passengers’ injury incurred in the event of accident.
The third party insurance only covers the other driver’s damaged vehicle in the event of accident at the insurer’s fault.

While the Comprehensive insurance is a compact auto insurance policy that covers vehicle and all its internal accessories as well as the other damaged vehicle whether the driver is at fault or not in the event of an accident.

It is important to consider the terms of the policy when purchasing auto insurance especially whether or not they will cover you against other uninsured drivers. This guide will protect you from mistakes other people might also make. Drivers can save money or troubles replacing their car by having their new auto insurance.
However, here is some usefulness of an auto insurance policy;

1. Provides a life guarantee in the event of an auto accident.
2. If the auto accident is the driver’s fault, it would cover all legal costs as well as costs to repair other driver’s vehicle and his or her medical expenses, (Liability auto insurance).
3. Medical expenses and vehicle repairs are paid to the insurer if he or she is not at fault in the event of an accident.
4. In the case of flat tire, faulty head-lamp, locked in car, dead battery, etc; the auto insurance comes to the rescue.
5. The driver and passengers are covered for medical, lost wages and house hold expenses regardless of fault, (Personal Injury Protection).
6. Coverage for towing and labor if car is disabled and cannot be driven.
7. Protection in the event of vandalism, theft, animal strikes, hail, windshield cracking and fallen trees, (Comprehensive Auto Insurance).

The usefulness of auto insurance is laudable. It provides peace of mind and is really priceless in the event of an accident.
Having a paid auto insurance policy puts you on a twenty four (24) hours safety for road assistance and saves you money from all contingencies.

For more about auto insurance and the latest quotes please Click Here!

Guide to Right Investments

2010-08-03T08:41:00.000+01:00

As an individual we all have targets and set goals in our finances, hence adequate information to the right investment is very important. Considering the fact that good investments help us to actualize our objectives in our education, career, capital projects, family needs, etc, then it’s imperative for us to understand these investments.

Presently, we are faced with the recovery of the economy after experiencing the global economic meltdown for more than two years of economic impasse. In most African countries, especially Nigeria do not seem to get on a good start as the government has limited funds to inject into the economy (Capital market) unlike other developed nations of the world are currently doing. Therefore, there’s a need for us to make the right decision at this trying period. There are different types of Investments available to us; Savings, Insurance, Bonds, Equities and Stocks, FOREX, Real Estates, Importation and Exportation, and what have you. These may sound interesting, but we must look before we make decisions in our chosen investments.

For most people, making the right investments decision can be a tough one. They assume that you need enough money to venture into a lucrative business. It is always a good idea to do some research before you can make a decision as to what you want to invest in. This is better achieved the most when you gather information on your type of investment because you want to make the right investments that would work best for you. It is financially wise for you to know the investment basics so that you will be in a position to have variety of choices. Is this where the use of funds comes in? It is advisable that you use your savings especially if you plan to invest in long term. Moreover, you do not need a lot to get into investing though; you can use your monthly savings and investing consistently. The Stocks and shares option is one of the most popular and profitable business.

Also investing in Insurance policy is another guaranteed way of investing without having fear for drop in market price. Unlike the stock market, Insurance is a sure way of getting your money back with a certain accumulated interest over a stipulated period of time that is if there have not been any occurrences before the maturity date. This however, would be discussed exclusively in my subsequent articles.The mutual fund investment option is yet another form of investing whereby organizations collect money from different individuals and use it to venture into suitable quoted company stock at the right time.This reduces your risk of losing money since you are not directly investing in the stock market. You should look out for all loop holes and engage the services of a financial expert to help you make suitable investment choices.

Before we delve into the various investments stated above properly, there is a need to highlight the basic Principles of Investments that would be our guide to a successful venture. I shall discuss 5 of these proven principles that would guide us through;

The first investment principle we must know is to get the foundation right of any investments plan and all the hiccups we envisaged or encountered would be checked. The problem most people have is that they try to solve their challenges from the surface. It is easy for one to quickly take a pain relieving tablets to stop his toothache problems without knowing the cause. Alright let’s look at our business transactions as an instance. A growing businessman borrows money from his fellow business men to build his business venture. By doing this overtime he became heavily indebted. But in order to be free from his indebtedness, he quickly pays his debts without ever considering the fact that his greatest weakness could be poor financial (money) management. In Nigeria today, an average 60 percent of the population are into entrepreneurship in one business or the other yet most of them have little idea of their venture which accounts for low returns in profit every quarter. This dismay performance could only be attributed to their poor knowledge of the said business, hence the business foundation is lacking. In addressing such situations, understanding the roots of these investments would place us on the driver’s sit to know where and how to make great returns on our investments.

The second principle simply tells us to set values in our investments’ plan and life goals generally as a yard stick to take us to our desired expectations. Values are internal anchors we set ahead of time to guide us in time of decisions making. It is also important to note that in our individual offices and business places, values we set for ourselves would determine the future and success of our careers and business ventures. According to Hamel, G. in “Rethinking the basis for Competition” in (Gibson, R (ed) Re-thinking The Future, Nicholas Brealey Publishing, London pp. 76-92 he says that “the big challenge in creating the future is not predicting the future. Instead, the goal is to try to imagine a future that is plausible – a future that you create based on values.” As matter of fact, we must place great values on our investments and businesses for it to grow beyond limits.

On the third principles of investments, we must draw out our investments plans and strategy. One does not expect a high dividend as a return on your investments from a quoted company if you don’t invest well on that company. In any investment we do, there is need to know the strategy to adopt in getting good returns. Let’s look at the stock market for instance, you would not be foolish to invest in First Bank Plc in the Nigerian Stock Exchange that has reached its’ bullish state when you know most investors are bailing out after a period of planting then smiling to the banks for a good investment. You have to understand the investment first (foundation) then adopt a particular plan or strategy that would suit it for a stipulated period. That is why; Sun Tzu, great author, posits that “the General who wins the battle makes many calculations in his temple before the battle is fought while the General who losses make but few calculations beforehand”. You should know that whatever plans or strategy you make does not really guarantee you success as it may not suit the kind of investments you are into but get the right information to guide you through. Hence, you are advised to invest in financial books, business tips or any investment instruments to put you ahead of your contemporaries. By doing this, you must have drawn an investment philosophy that includes your; aim, period, returns and interest of your investments.

The fourth Principles would centre on our spiritual strength in business. Knowing that sometimes we face all sorts of problems and setbacks in our investments or business activities, we may not have the physical power to overcome them. To be realistic, we need to look up to God by committing our businesses in His hands irrespective of our religion or faith. According to the Book of Proverbs; “If God can see everything in the world of the dead, he can also see in our hearts.” If we commit our ways to God, He would direct our paths. We should always seek Him when faced with any problems. I also suggest you renew your minds with great spiritual and inspirational materials. Great authors like; T.D. Jakes, John Mason, Joyce Meryce, Mathew Ashimolowo, Dale Carnegie, etc have wonderful works that can nourish our soul and make us achievers even in the face of adversity. You would find out that what you consider as problems are not problems, but some stumbling blocks you encountered as challenges to your road to success.

The last Principles of investments which is the fifth, has to do with you as an individual. As a child while growing up, we all aspired to be one great professional in our chosen field. That’s the reason why Education could be adjudged as the highest form of investment. I must say that that most professionals or CEOs these days don’t utilize five percent of their brain. With the latest technologies at our finger tips, we seldom use our brain to work even getting the least calculations. Knowledge they say is power. The more knowledge we acquire, the more resourceful we become in affecting our lives positively. We have to invest in ourselves to improve on our business ideas and skills as change is inevitable. To buttress this point, let’s look at Romans 12:2; “and be not conformed to this world, but be ye transformed by the renewing of your mind that you may prove what is good and acceptable and perfect will of God”. Please make it a habit to invest huge part of your income on your brain and mind, as it’s such an investment that you would receive a 100% returns.

Remember, knowledge is part of the key to all successful businesses. Follow these basic principles of investments guide and you would be amazed how your business would grow in greater profits.

For more on your finance and related stocks please Click Here!

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2010-07-01T09:49:00.001+01:00

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How To Achieve God's Given Dreams In Life

2010-06-24T09:34:00.001+01:00

We live in a world where everyone wants to achieve success and have financial freedom. With the ever increasing daily needs of life, we all strive to meet up with our personal needs, family needs, financial needs and even social needs. What plans or goals have you set for yourself to achieve these needs? Do you have the dream of becoming a proud owner of landed properties, choice cars, profitably business, great family, etc? Some people do not believe in dream, so do you? My mentor used to tell me that whatever your dreams or aspirations in life are, if well conceived within you it would definitely come to pass. I do not want to bore you with all these questions or deviating from my normal investments tips, but if you do not understand these basic spiritual principles of life success would be elusive to you.

Some people venture into various businesses, career or projects without believing in it or believing in themselves to succeed. I have watched some people’s business or idea crumble without reaching its desired peak. It is either they lacked the basic knowledge of that particular business or within their hearts of hearts they do not believe in it. Most of the time we fall in these category and we blame God for abandoning us! Remember, that God sees our heart desires and bless those that believe in Him.

How many goals or dreams have you written down for yourself in the past 5 to 10 years? If I may ask, have you achieve 70% of these dreams? We all need to take time in solitude to evaluate our successes and failures in life to correct future occurrences. I do not want to be sarcastic but with all objectivity this is to ascertain where we have all gone wrong in search of success in life.

There are three powerful secrets behind all successes in life. They are;

Desire, Belief and Action.

One interesting thing about these powerful secrets to success stated above is that it has to be followed in that sequence to achieve the desired result. If the desire to build a Castle is not there, then the belief would not come from inside and of course there is no need of taking action. How intensely do you desire your dreams? Do you believe in your instincts to achieve success? And do you have bias for action?

Look at the champions of the world today in their various endeavours; Roger Federer, Bill Gates, Alinko Dangote, Tiger Woods, Oprah Winfery, David Beckham, Mike Adenuga Jnr, Barack Obama to the late Mother Theresa – and you will agree that these three simple secrets are working for them.

I am offering you an E-book titled; ‘How to Know If Your Dreams (Goals) Are God’s Dreams” by one of the renowned authors of our time. In this book you will understand these three secrets to success in life, how to nurture your dreams to reality, discovering your purpose in life plus other tips for financial and spiritual growth. Also in the E-book, we have links for free membership to financial clubs, daily ministry and making money online.

By reading this book, I have tapped great knowledge and understanding God’s purpose for me in life. I also want you to experience these wonderful secrets of life’s success and I bet you life would never be the same.

You can book a copy of the E-book for One thousand (N1,000.=) Naira only instead of the initial N2,500.= proposed. I am giving out the offer (bonus) price to the first fifty (50) people that made their payments after confirmation, so do not be left out.

Please make your payments to any Zenith Bank Plc nearest to you with the following details;

Account Name: Amaole Uzoma

Account Number: 2003036057

Note: Nigerian Residents Only!

After making your payment, please send me an email confirmation to uzzitalks@gmail.com with the following information;

i. Full Names

ii. Address

iii. Email ad

iv. Phone Number

v. Bank Teller Number

vi. And Write “How To Know If Your Dreams Are God’s Dreams” as the subject of your message.

For further questions or direction on how to get a copy of the E-book call me on this line; 234 8033727458.

Wishing you best of God’s success as your dream comes true.

Interesting Online Network Business

2010-06-15T10:43:00.000+01:00

Most people are looking for income everywhere; Retails & Wholesales Goods, Exporting and Importing, Oil, Stocks, Real Estates, Web online business, Transportation; to mention but a few without considering its risks.

But one investment business that catches my fancy of late is the advent of online business. There are lots of legal online business that one can invest in without stress, which happens to be the in thing now. Ranging from e-Bay, e-Gold, Face book, down-line payments, viral marketing, and other affiliates marketing etc, online network business is becoming an alternative to modern day business.

I have had the opportunity of viewing and participating in some of these online businesses. But what its' required of you is to verify its' authenticity before registering one.

Someone asked me once why only about 5% of the people earn the top dollars. Have you ever thought about who is among the 5%? I will introduce an online business that has good potentials as an individual or group. Have you heard of SWOM? It stands for 'Super World of Marketing' and it's set to ROCK the industry!

SWOM is an exciting new social networking site for internet marketers. This system will work for you 24/7 for any and all of your opportunities. You can keep in touch with your down line, meet new prospects and of course make money!

This is an online marketing network that connects you to different people in the world by inviting them on a referral basis. There are three common things you need to do as a new free member;

1. Refer Friends

2. Meet People and

3. Earn Money.

To refer friends you have to send invites to your friends via your personal email address book account for them to accept and confirm their account to be a free member. By doing this you meet people around the world as your connections grow.

Now, to earn money on this social network you must upgrade to a Gold Member!

As a Gold member, you get paid an instant $15 bonus every time you refer someone who becomes a Gold member! It doesn't matter when they upgrade - even if they join as a free member and upgrade 6 months later, you still get paid!

Gold members may also take part in the revolutionary Viral Referral Program, where you can make significant full-time income that would be the envy of your Doctor and Banker! With time and dedication, it is possible to earn a 4, 5 or even SIX FIGURE INCOME every month just by working from home! In addition, Gold members receive FREE advertising of their SWOM profiles on the SWOM website. That's right! Gold members have their member profiles featured for FREE on their home page -- with a huge number of visitors every day to the SWOM website; this is a great way to make new friends.

Interestingly, commissions are paid to all Gold members on every 10th of a new month. Hence, members are to participate actively to earn points by making comments, positive responses, answering questions, connecting and earning community chest points! Then, you are sure of an residual income flowing into account.

The approved form of payment is through the Alert pay account. You need to open a free account with your email by registering with alert pay. Get your FREE account with AlertPay now.

Give it a try and watch as your income grows in leaps and bounds. For easy registration to become a free member of SWOM, please Register Here! to get started.