Category Archives: Personal Banking

Avoid the Biggest Mistakes in Retirement

Avoid the Biggest Mistakes in Retirement

Retirement is something we look forward to all of our lives. We imagine what life will be like when our time is our own and we can spend it hanging out with people we love, enjoying our hobbies or even

Money is not for spending

Money is not for spending

Many folks have the mindset that money is for spending. Consequently, the only thing they know how to do when it comes to money is to spend it. Hence they spend their way into financial bondage, living perpetually under financial

You cannot solve everyone’s financial problems

You cannot solve everyones financial problems

You cannot solve everyone’s financial problems If you are kind-hearted, chances are you are carrying around a burden of guilt thinking you are supposed to solve the financial problems of everyone around you. If you are the most well to

Investors’ fortune soars by N405b as market hits N11.8 trillion

Despite the N280 billion losses incurred by investors in two trading days, following the announcement of the presidential election result, the Nigerian Stock Exchange (NSE) gained N405 billion in the month of February 2019. Specifically, the market capitalisation of listed equities, which opened at N11.424 trillion as at Friday, February 1, 2019, stood at N11.829 trillion when the market closed for the month on February28, 2019, representing N405 billion or 3.4 per cent gain. Also, the All-Share Index that measures the performance of quoted companies rose by 1,085.4 points from 30,636.36 points to 31,721.76 points. The stock market had last week Thursday, shed N194.84 billion on the back of sell off in blue-chip stocks like Nestle Nigeria, Nigerian Breweries, Guaranty Trust Bank and Stanbic IBTC Holdings. Nestle lost N30, or two per cent; NB, N3.70, or 4.45 per cent; GTBank closed N2.50 or 6.85 per cent lower; Stanbic IBTC Holdings, N2.05, or 4.23 per cent; and Dangote Flour Mills, N1.05, or 8.79 per cent. Thursday’s loss was the biggest since the release of Nigeria’s February 23, 2019, Presidential election results on Wednesday morning, with the Independent National Electoral Commission (INEC) declaring incumbent President Muhammadu Buhari winner. The main opposition Peoples Democratic Party (PDP) has however protested the outcome and hopes to seek redress in court, a development that may not be co-incidence that the stocks, which dominated Thursday’s loss, are those blue-chip stocks played by foreign investors. At the end of trading for the month, Seplat still gained N84, recovering partly from its N105 loss in January; Nestle also recovered N30 from prior month’s N45 loss; the N19 by Beta Glass was enough to wipe off its N8.30 loss in January; Presco gained N15, which more than atoned for the N4.00 loss it sustained in the preceding month; just as NB’s N5.50 was not enough to wipe off its N11.50 decline in January.

Despite the N280 billion losses incurred by investors in two trading days, following the announcement of the presidential election result, the Nigerian Stock Exchange (NSE) gained N405 billion in the month of February 2019. Specifically, the market capitalisation of listed

How to earn more from fixed deposits

How to earn more from fixed deposits

If you have some money in the bank and you have no plans to spend it now, you can transfer it to a fixed deposit account to boost your savings. Fixed Deposit accounts are a type of savings account that

6 Reasons Why You Should Save

6 Reasons Why You Should Save

You should make it a priority to start saving early. It is one of the best ways to take control of your finances especially in this time of economic hardship. Sometimes it is a mystery to some people and even

How to apply for bank loan online

How to apply for bank loan online

Some banks give you the option to apply for a loan online and the application process is usually fast and simple, www.sainsburysbank.co.uk, has said Rather than visiting a branch or speaking to the call centre, you can access the application

3 Effective Methods for Making Some Money on the Side

3 Effective Methods for Making Some Money on the Side

Good Things Come to Those Who Hustle: 3 Effective Methods for Making Some Money on the Side  In the post-2008 economic climate, financial security is hard to come by. Unexpected expenses can throw your finances into turmoil at a moment’s

Effects of premature withdrawal on fixed deposit

Effects of premature withdrawal on fixed deposit

Many people invest in fixed deposit being the safest investment option available today. In this report, profit.ndtv.com explains the consequences of terminating fixed deposit prematurely. In order to maximise returns, while it is useful to get a high interest rate,

Separate your personal from business account

Separate your personal from business account

Mrs. Chinyere Ebelechukwu is a small business owner who bakes cake and supplies small chops at ceremonies. She is new to the job; and most of her customers are referrals from her friends and relatives. Her customers often pay her

Five banking terms relating to interest rate

Five banking terms relating to interest rate

Banking is full of terms and concepts that can be difficult to comprehend, even for industry professionals. But with banking and finance such an important part of our daily lives, taking the time to learn some new phrases could yield

How your savings account works

How your savings account works

A savings account is opened in a bank by a salary earner or a person who has a regular source of income in order to have interest on his/her money. This facility is also available to students, senior citizens and