Awhile ago, out of curiosity to find out what this banking people are up to lately and what they really know about money and investing I had to speak to a banker friend of mine.

The simple question I asked was, 'if I had one milion naira to invest today, where to do you suggest I put it?'..

I mean this guys have all our money in the country for save keeping. As such they know ( or rather they should know) how to put it to good use more than the majority . I mean isn't that why you work hard only to keep your money with them at the end of the day?? Such irony!!!!

Anyways, i was shocked to my bones by the answer I got.

I was told "the best way to invest my one million naira was to open a dollar account and save money there since dollars is rising very much compared to the naira."

Mehn, I was blown away!!! You mean this guys...!!!! A banker could...!!!!

Am sure even if your ask the best of the best investment person there( I don't know how they are called), you won't get any answer much different from that!!! The fruit they say doesn't fall very far from the tree��.

Now, you might say 'But it's true. The facts are glaring. Dollars is increasing more the naira( more like everyday) Our naira has no value'.

Many have even predicted a dollars to rise to about one thousand naira. ��

Yes it's doubtless to say, our Nigerian government has completely useless and is on their way to obliterating the naira( I mean that's what they are good for). So its completely financial ruin to work for naira right now or keep any money in naira.

What's the way forward now!!!

There is a simple( not easy) solution to this to those who want to keep their money in dollars or other foreign currencies but first a few things to consider.

1. Savers are losers all the time!!!!

We have already seen what this guys( the government) can do with their recklessness by printing money and getting into more debt. It's not only a Nigeria's phenomenal. It's even worst in the US and Europe. People do not know expecially from out end that the dollars since it's inception has lost more than 95% of it's value. But of cause, it's still better than what we have here in Nigeria. And I would love to have and dollars always compared to naira.

You want to save, inflation will eat your money silently no matter the currency it is as long as this government can always print money out of thin air anytime.

2. Tax

Whether you like it or not, someone has to pay for all this plunders this government commit. Since they can't grow the economy through production, it's easier to keep printing and borrowing money.

But they can't print money forever. So what next do they do. They physically go after your savings in the bank. In their bank. You kept it there for them remember ( oh oh)

So, they will manufacture all kinds of tax and levies. It's now worst in Nigeria!! They go by different names too numerous to mention.

Simply said, savers pay more in taxes.

Back to the way forward!!!

If you must save money in foreign currencies from Nigeria, it has to be saved in 'assets' that is known to grow above the inflation rate while you still benefit from the currency exchange.

Of all the assets out, stocks has the record of procuding returns above inflation rate consistently. And it's stability(volatility) increases with time.

So you can and should save your money in foreign stocks in foreign countries in foreign currencies.

This is one benefit of global investing to a Nigerian. It's actually a three-fold benefit.

# You tend benefit from currency exchange, and

# You partake from the stocks return of many developed nations. As their economy is prospering, so will your own shares.

# You reduce the risk of investment by investing in only one country. For the average man, there is little investment opportunity to be done in Nigeria as it is already. Stocks has made it cheaper to access other foreign nations with better structure.

Think what all these will do to your savings!!!

Thank God many little companies has made this possible for us to have access to foreign stocks a from Nigeria at the comfort of our home and keep our money in dollars at the same time.��

We have good companies like Bamboo, Trove, Chaka etc....

If you know how to build and manage a stock portfolio successfully, you can run now and open an account with them.

Go foreign. Invest globally