One of the most impressive things about Nigerians is their ability to think, innovate, and adapt to some of the worst situations. We have some of the most uncomfortable policies in the world today that make it particularly challenging to set up a flourishing business. Apart from that, the country itself lacks several mechanisms that can aid you in protecting your finances.

However, like you, this hasn’t stopped many Nigerians across the country. We still look for ways to do great things. One of the ways we’ve been exploring over the last few months is with cryptocurrency. Recently, Nigerian youths have been investing heavily in different virtual coins. There have been losses. But, there have also been great wins.

Sadly, out of nowhere, the CBN came up with a policy that severely slows down our ability to maximize this opportunity. For this reason, it is incredibly important that you begin learning the process of protecting your finances. You really don’t want to become the victim of another unfavourable government policy. Here’s how you can go about it:

Diversify your savings and investments

This part might be a bit of a challenge to you. This is especially so if you’re mostly used to banking with Nigerian institutions, and you cannot afford to work with some others. However, if the whole CBN cryptocurrency drama is anything to go by, you need to expand all the places your money goes into. That way, even if the government says something that should negatively impact you, you can rest assured that you’ll scale through with all the other options at your disposal. An easy way to diversify your savings is by putting your money in foreign accounts that are available to you. This one in particular doesn’t just protect you from unfavourable government policies. It also helps you to stay on top of currency devaluations. You’ll hardly lose the value of your money, depending on the currency you save with.

READ MORE: https://newsbreakersonline.com/protecting-your-finances-in-an-age-of-uncertainty/?swcfpc=1

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