₦airaland Forum

SatoshiX:
It's not you agreeing or not, I'm telling you my own personal experience.

You rather buy land than invest in stocks?

IamHonourable1:
Oga shift abeg, all na scam

I don't know why you moderators come up with this 40 words characters even when I don't feel like writing long epistle

Nothing is scam. You don't just understand how it works or probably looking for short cuts.

SatoshiX:
The 700k i spent on First Bank IPO @33 naira per share in 2007 is worth next to nothing today. The land I bought few month earlier has appreciated more than 1000% so far.
My biggest investment regret.

I completely disagree. Stock investment is the fastest way to get rich.

Paulscholari:
I did this gtco shares with 50k and they gave me 7k after how many months sef maybe 5 month, abeg which kind rubbish be that..

I want my money back abeg..

Sell your shares if you desire you money back. You are yet to get your final dividend.

Nostalemate:
Buying stocks in nigeria is a very non-economical move.


Shout-out to all Chess comrades on NL.

You mind sharing the economical move as I would really want to learn from you.

Raxxye:
True, My brother!
I and my wife were just discussing about my neighbour who died yesterday morning. Sad incident really!
Obviously, she had lots of savings that she wasn't disclosing to anyone!

The importance of Will as most of us are not ready to have such discussion yet.

Dancebreaker:
Unless you are a big player, or can have insider tips, all these book metrics hardly matter. I believed all these about 20 years ago and invested. Then the banks began their abracadabra merger and acquisition. Na so 10 shares go turn to 3 shares, 2000 shares turn to 350 shares. I don't think even Newton, Gauss or Euler could have worked out the equation they used.

Na story e take end.

Kindly read on Stick split and what happened when companies merge. Knowledge they say is power.

Redstorm:
Nice one. I'm thinking of investing in the banking sector before the year runs out.

Start now as delay they say is dangerous. I am a testimony that stocks is the best investment options.

Unclaimed Dividends Alert!

Did you know that there are approximately ₦190 billion in unclaimed dividends in Nigeria, according to the Securities and Exchange Commission (SEC)?

You might be surprised to find your name or a family member's name on the list!

Search Now: (sec.gov.ng/non-mandated/)

Easy Steps:

1. Click the link
2. Type your surname/last name in the search box
3. Click search
4. Review the results for your name
5. Click on your name to view the company and outstanding dividend

*Next Steps:

If you find your name, contact a registered stockbroker to help you track and claim your lost dividends.

Don't leave money on the table! I did, and the results were amazing!

Share with your family and friends!

Kingpele:
the best stock is to japa from this country ...because the economy is not yet stable.. the economy controls the stocks...I bought stock of intercontinental bank around 2003 ...now the bank is gone...I don't know how to go about retrieving it.... but am even considering buying stocks from Acess bank....for that bank to still be doing well after the death of its CEO is refreshing

alterego17:
Hi plz I just came cross my late dads different shares certificates he wrote down in his diary in his room... kindly help me with procedures of getting this shares claimed from each of d company's he had d share with

http://sec.gov.ng/non-mandated/

Search for the his name with this link O shared. Then send a mail to the registrar.

Villa12:
your point is invalid. Church is meant for both the rich and the poor. There are many poor people in the church and they will continue to be. We have the poor and the rich. It is what it is.

Noted

First, don’t panic. This kind of issue happens more often than you think, and the good thing is that you already have your CSCS number and CHN — that means your investment is traceable.

The drop from what you expected (20k shares) to just about 1,700 is huge, and you’re right that something doesn’t add up. Sometimes, companies like Wema Bank go through share reconstructions — for example, 10 old shares might be merged into 1 new share. That can reduce the number of shares on paper but shouldn’t make you feel like your money just vanished.

Still, there’s another possibility: some stockbrokers in the past have been known to sell people’s shares without permission, especially when they think the client has forgotten about the investment.

Here’s what you should do in plain steps:

1. Go to CSCS directly (not just through the broker) and ask them for a full breakdown of your account from 2007 till now. That way, you’ll see every transaction — whether any shares were sold, when, and by who.


2. Write a formal letter to the stockbroking firm, telling them you never authorized any sales and asking them to explain the reduction.


3. If they start giving you excuses, take it to SEC Nigeria (the regulator). They handle complaints like this all the time, and if your broker messed up, SEC can step in.



The key is: don’t rely on phone calls and verbal promises. Put everything in writing. Once you get the CSCS statement, the truth will come out — whether it’s just a legitimate “share reconstruction” or your broker was playing games.


Treat this like a paper trail investigation. Start with CSCS, then confront the broker, and escalate to SEC if needed.

blesskewe:
Good morning family, if you want a virtual assistant, virtual customer service, administrative assistant or a ticketing agent for your events, I am available.

For the ticketing agent, I am based in lagos and I have experience in that field of work.
Kindly message me you need my services.

Urgent Hiring:

I am seeking a reliable and customer-focused individual to join our team as a Remote Customer Support Representative.


Salary: N150k

Email: info@gibritech.com

awesomeJ:
But it was with GAMESTOP a few years back??

I made cool.cash with this stock.

temi4fash:
Example of such stocks

Omatek and company

Divineability:
Everywhere is red, the house is quiet. Who will tame the bears?

Market is correcting itself. Cash they say is King.

Why do you ask?

Rinoxy:
@Hamachi, pls did you write this article yourself?

bentenny:
Comfort zone!

You're touching on something deeply real here — the tendency for people to look outward for the cause of their problems rather than inward. It’s always easier to blame the government, "village people," bad luck, or even spiritual forces than to admit when we’ve fallen short, stayed too long in our comfort zone, or refused to strengthen our own "dike."

But the truth? A lot of failure begins with self-sabotage — fear of growth, fear of failure, fear of judgment. And instead of facing that discomfort head-on, many hide behind excuses or external enemies that may not even exist. Yes, systems can be broken. Environments can be hostile. But we still have to ask ourselves hard questions:

Am I doing my part?

Have I shown up consistently?

Or have I let procrastination, pride, or passivity lead me here?

Sometimes, it's not the government. It's not the "village people." It's the comfort zone we’ve turned into a prison — safe, familiar, but quietly dangerous.

Growth starts the moment we stop lying to ourselves.

A lot of what holds people back in life isn’t some big external force — it’s often themselves.

People are quick to blame the government for everything going wrong in their lives — even when their own “dike” refuses to be strong. No discipline, no effort, no plan… but somehow, it's the system's fault.

And when it’s not the government, it’s the “village people” getting blamed. Every setback becomes a spiritual attack, when in reality, many are just fighting the consequences of their own laziness, excuses, or poor choices.

Let’s be honest:

Watching TV all day won’t build your future.

Having no passion or drive won’t create opportunities.

Blaming others won’t change your situation.

Having no hobbies or skills won’t make you stand out.

Waiting for magic or luck won’t take you far.


At some point, you have to stop pointing fingers and look in the mirror. The change you want won't come from outside — it starts with you.

Fiscus105:
I think number 6, (BLAMING OTHERS) contribute most to people failure, people would blame govt for everything going against them, even if their "dike" refuses to strong.

They also blame village people as well for their downfall, even wen it's obvious they are their own enemy.

DoctorStanley:
My friend you're scaring people. Nigerian government that doesn't even have the resources or manpower to go after fully documented tax liabilities (example, you sell or rent a house) will now be able to go after "tax" on N10m they don't even know you have in your account! Get serious

Kindly refer to the new tax law passed and see that things are beginning to change.

I can feel how heavy all this is weighing on you right now. You’ve been through so much—from building a life together, having a child, to sudden financial setbacks that flipped everything upside down. And now, on top of that, you’re trying to juggle expectations, money issues, and the pressure of a traditional marriage you just can’t afford right now.

Honestly, it’s okay to feel tired and frustrated. You’re carrying a lot, and it’s only natural to want things to slow down so you can breathe and figure out your next steps.

Here’s what I think: You both need to take a step back and have a heart-to-heart—no blaming or shouting—just real talk about where you’re at financially and emotionally. Let her know you want to build a future with her and your child, but right now, you need to focus on getting stable first. Explain clearly that the wedding is important, but it has to wait until you can afford it without going deeper into stress.

It’s also okay to set limits on money. You’re doing your best with what you have. If she keeps asking for small amounts beyond the monthly feeding money, it’s okay to say no sometimes—your own survival matters too.

If things feel overwhelming, don’t be afraid to take a little space—not to punish, but to clear your head and recharge. Just make sure she understands why you’re doing it so it doesn’t feel like you’re shutting her out completely.

And if you feel like the relationship is dragging you down more than lifting you up, it’s okay to think about what’s best for you and your child in the long run—even if that means tough decisions.

You’ve already shown you’re a hard worker and you care deeply. Just keep focusing on building that stable foundation, little by little. The rest will come when the time is right.

If you want, I can help you figure out how to talk to her calmly or even plan some ways to bring in extra income without adding too much stress. You don’t have to carry this alone.

Confuse20:
Good day everyone

Please I needsoke reasonable advice to anyone that has been in this shoe.

Ok I met this lady in Ibadan in 2019 we lived together and eventually had a kid together .. we have been staying together in Ibadan very fine because I was doing very good .but things take a turn on me financially in 2023 as my farm was flooded abd I lost a fortune . So I had to move to osun state where I built a 4 bedroom flat. I was the first person to move and she later came with my child .. but one thing let to another ..I hit her so she had to move out back to Ibadan with her mother's sister .. her mom and siblings live in delta state .
So now she is telling me before she can come back I have to do traditional marriage but knowing fully well I don't have that fund now in this economy .. my salary is only 70k . I told her to come so I can take a loan to open a shop for to start selling things while I hustle to save money for the wedding and take cae of my child's school stuffs but she is not having it .. now she calls me everytime to send money for feeding and all that .. after I place them on 10k monthly feeding allowance .. but now I just don't know what to do again . After giving money for feeding she will still be asking for 2k -1k randomly almost everytime ..her own salary is 22k ..

Please should I just free this woman because if she is with me we can do more together like saving money and taking car if the family ..then we can go do wedding when we have money but she want me to save money for wedding . Pay school fee , send 10k monthly and sti be sending urgent 1k2k every now and then

Please what can I do abeg I don tire .. m feeling I should block her off for 2months .maybe she can think ..because I don't think I can afford the weddinf next year coz I habe other things ..I want to start a business for mysekf ..buy car and use for Uber

Racheal45:
Please how profitable it is presently
How profitable is pharmacy business in 2025

The pharmacy business in Nigeria presents a promising opportunity in 2025, characterized by substantial market growth and healthy profit margins. However, success hinges on strategic planning, adherence to regulatory standards, and leveraging digital advancements. If you're considering entering this sector, conducting thorough market research and possibly partnering with experienced professionals can enhance your chances of success.

pvirus:
I was able to amass over $100k from crypto/web3 (trust me not fraudulently) since 2021 till date, although it could have been more but no one is perfect.

We know crypto crypto/web3 have different trends(uptrend and downtrends), which i believe we are threading towards a downtrend. And i want to diversify some of this funds into something IRL.

Now i am undecided if i should Japa or start a business here in Nigeria with the money. My fear for the japa is that go there and start doing menial jobs that i wouldnt even do in Nigeria. And for the business, i currently don’t have idea of what to start

I feel you. You’ve hustled hard, made some serious gains from crypto, and now you’re standing at this crossroads with $100k in your pocket. That’s no small feat — seriously respect that.

It’s totally natural to feel torn between two big moves: leaving for greener pastures or planting your flag at home and building something real. Both paths come with their own kind of risk and reward.

About Japa:
Your worry about ending up doing menial jobs is real and valid. Nobody wants to start all over grinding in roles beneath their skill or ambition. But maybe there’s a middle ground — instead of jumping straight into random jobs, what about aiming for places or visa programs that recognize your skills and experience? Maybe freelancing or remote work in crypto/blockchain could keep you afloat and respected while you settle in. It’s about playing it smart, not just jumping blindly.

About Starting a Business in Nigeria:
Not having a clear business idea right now is okay. Most successful businesses start from small, imperfect ideas that grow over time. Maybe you start with something simple, solving everyday problems you see around you — logistics, food delivery, agri-tech, even education or digital finance. Nigeria’s market is huge and hungry for innovation.

You deserve a life where you feel respected, challenged, and rewarded — whether that’s abroad or at home. If you go abroad, aim to go where you can grow into your potential, not just survive. If you stay, start small, test ideas, and remember it’s okay to pivot.

You’ve proven you can grow something valuable. Now it’s about choosing the path that feels right for you — not just the easiest or the most talked-about.

Look at the dressing what if it exploded. Haba! We can do better

1. Wealth or Asset Taxes Do Exist in Some Forms
Governments don’t usually tax the balance in your account — but they can tax:
- Interest income you earn on that money
- Capital gains from assets your money is invested in
In some countries, wealth taxes or net worth taxes do exist, which include bank balances as part of total assets (e.g., in Switzerland, Norway, Spain, Nigeria (refer to any AFS).

So while having money isn’t taxed directly, what it earns or what it represents can be.

2. Undocumented Income Isn’t Immune Forever
While it's true that cash payments often fly under the radar:

If you're ever audited and can't explain your lifestyle, deposits, or assets, that’s where tax authorities dig. A recent example is VDM issue with EFCC. Banks now flag large cash deposits or unusual activity, often leading to inquiries (especially post-Patriot Act and under anti-money laundering laws). Governments globally are tightening reporting requirements — including on crypto and foreign assets.

It's not about scaring people — it’s about being aware that “unseen” doesn’t always mean “safe” or untouchable.

DoctorStanley:
You're talking nonsense. Government can only tax income or profit NOT money you have in your bank account.
Also, Government can only tax documented income. They can't tax undocumented income (like cash payments) because they can't see it.
Stop scaring people.

SamuraiXXX:
There is no law that says you must pay tax on payments you received on behalf of another person.

So long as you can prove that the inflow is not part of your business income you are not obligated to pay tax on it

Yes—it’s entirely reasonable to argue that “you aren’t obligated to pay tax on money you didn’t profit from.” But in Nigeria’s self-assessment tax regime, words alone won’t carry you through an audit. You must back them up with paperwork, receipts, memos, bank statements, and agreements.

Think of it like hosting a friend’s money: you’re not responsible but you can be held accountable if you lose track of it.

JAOS:
Registering my business has a company when I am the only one running it,
Is it not cheating and are there no consequences?

Legality Fully lawful to register and operate a company solo under CAMA 2020
Tax Impact (small company) Exempt from CIT, CGT, and Development Levy if turnover ≤ ₦100m and assets ≤ ₦250m
Future Scalability Tax rates remain fair even if you outgrow those thresholds
Compliance Simplified, digital-first administration with robust protections and dispute mechanisms

Forming a company as the only person running it is not cheating, and the new tax laws make this approach even more efficient and advantageous—especially for small businesses.

You’ll enjoy tax exemptions, reduced administrative burdens, and a professional edge—all while staying 100% within the law. As your business grows, the system remains structured and fair.

Before You Cry Like Peller, Read This

I came across a trending news on Premium Times newspaper,

The news says that Peller, the TikToker, is crying out for help after the Lagos State Government slammed him with a ₦36 million tax bill.

When I came across some of Peller’s video clips, it was funny to me because he said he doesn’t own a company and thought it’s only companies that pay tax.

He also said he can’t pay such an amount because he doesn’t have a job, that he only makes money online on TikTok and not in Nigeria.

Let me tell you the truth,
the law doesn’t care about your ignorance.

Some of you reading this will also cry more than PELLER starting from 2026 if you fail to restructure yourself and your business now.

I have been preaching business structuring here on Facebook since the day of my project research defense in UNILAG.

First of all, I want you to know that everyone pays tax, whether rich or poor.

In fact, the poor actually pay more tax than the rich because 99% of them don’t know how to legally reduce their tax burden.

But since it’s my duty to see you grow, let me give you the best advice your mentor will never give you for free.

Take a seat and read this post, let me tell you how to escape from the same trap Peller has found himself in now, because from next year, there will be no escape.

In Nigeria, we currently practice a multi-tier, mixed tax system which can be confusing and sometimes leads to one being overtaxed or undertaxed. But the present government has passed a new law which means that from 2026, Nigeria will start practicing a Progressive Tax System.

This means that the more income you have, the higher the taxes you pay.

From next year, the rich will pay higher tax, while the poor will pay smaller amounts, and in some cases, nothing at all, depending on earnings.

Let me remove all the big grammar in taxation for those of us that studied Financial Accounting in school 😂 and break this down to you as if you were in primary two.

The new tax law, commencing fully in 2026, states that any individual earning less than ₦800,000 per year will pay no tax at all.

And any company with less than ₦50 million yearly turnover will also pay no tax at all.

Now, let's talk about who Must Pay Tax from 2026

In taxation, we their is what we called PIT and CIT:

PIT means Personal Income Tax (for individuals)

CIT means Corporate Income Tax (for companies)

With the new progressive tax system, if you earn above ₦800,000 as an individual, you are required to pay about 15–25% of that money to the Federal Government.

For example:

₦0 – ₦800,000 = 0% tax

₦800,001 – ₦3,080,000 = 15% tax

₦3,080,001 – ₦12,320,000 = 18% tax

₦12,320,001 – ₦24,640,000 = 21% tax

₦24,640,001 – ₦49,280,000 = 23% tax

Above ₦49,280,000 = 25% tax

In summary: If you make around ₦50 million in a year, you are to pay ₦12,500,000 to the Federal Government.

For Companies:

Anything less than ₦50 million = no tax

Above ₦50 million yearly turnover = 25% corporate tax

You see why you must restructure your business and see yourself as a brand, a company, and not just “catching cruise” watching TikTok videos online.

For the Lagos State Government to bill Peller ₦36 million in tax, if we calculate using the new progressive system, it means he has made more than ₦152 million.

And let me tell you the truth, the government knows the inflow and outflow in your account. For them to have come up with that figure, it means they have done their background checks.

The best advice anyone can give Peller now is to hire a tax expert to review his accounts and negotiate with the government. If not, there is no escape.

The reason why this tax issue seems strange to some of you is because the system wasn’t properly organized, and it’s only Lagos State Government that takes tax seriously.

But from next year, no more “state this, state that.”

From 2026, the Federal Government will collect the tax directly.

And there will be no way to escape. The same cry Peller is crying now, some of you will cry on this same social media when the time comes.

It’s just 5 months to go before we enter 2026.

And don’t think the government can’t track your income, my friend, that’s a lie.

With the new technology in place, the government can track your income just with your NIN and BVN. Even if you scatter your money across 20 different banks, NO ESCAPE 😂.

Now, as you’re reading this, you may be wondering: How do we reduce our tax?

My brother, I have good news for you, so you won’t make the same mistake Peller made, whether you’re a content creator, blogger, businessman, or even a beggar (oh yes, begging is now a business in Nigeria; haven’t you heard about “urgent 2k” boys and girls?).

First, you need to Restructure Your Business.

Restructuring starts with registering your business properly. Instead of registering your business as a Business Name, register it as a Limited Liability Company (Ltd).

With this, your business is a separate entity and you are also a separate entity.

PLEASE NOTE: when you register as a BUSINESS NAME, my sister or brother, you don’t have a company yet ooo.

What you have is called a sole proprietorship, which means a one-man business.

You are not separated from your business, and all your income is counted as personal income tax, not corporate income tax.

One major advantage of having an Ltd is that, before you pay any tax, you are permitted to deduct your expenses, including operational costs, salaries, marketing costs, etc.

That’s why those who understand stock market fundamentals analysis see things like “PROFIT BEFORE TAX” and “PROFIT AFTER TAX.”

If Peller had structured his brand before now, collect all his revenues under corporate account and registered something like “Peller Entertainment Ltd,” he could have deducted expenses such as cameraman salary, video editors, equipment, and other costs.

His tax bill could have been less than ₦10 million, or even ₦5 million.

For those of you arguing with me in the comments section of my last post about, "Why Igbo Businesses failed after the Founder's death", that business structuring does not matter, you now see one of the advantage of structuring your business.

Another important point,
After registering as Ltd, stop collecting payments with your personal account. Use your corporate account for all payments.

And for those of you whose friends abroad send ₦100 million to your account to buy land or houses in the village, my friend, you must pay tax on all that income from next year😂.

Separate your personal money from your business money.

Stop buying groundnuts and corn with your corporate account.

Pay yourself a salary. Being CEO and sole director doesn’t mean you should dip into company funds to buy shawarma for your urgent 2k girlfriend.

Not paying yourself a salary is not a sacrifice, it’s financial mismanagement.

Document all your income and expenses. Avoid cash transactions where possible.
And if you must use cash, keep receipts (not invoices, many don’t know the difference). I’ll save that topic for another day.

Sharing your social media handles on the DS-160 form might feel personal, but it's an important part of the U.S. visa application process. The goal isn't to invade your privacy, but to help ensure national security by verifying identities and spotting potential red flags. By honestly listing all platforms you've used in the past five years, you're showing transparency and building trust with immigration officials.

Remember, you're certifying that everything you include in your application is true. Leaving out social media details—intentionally or not—can be seen as misrepresentation, which could lead to visa denial or impact your chances in the future. Being open and accurate helps your application stay strong and credible.

Before You Cry Like Peller, Read This

I came across a trending news on Premium Times newspaper,

The news says that Peller, the TikToker, is crying out for help after the Lagos State Government slammed him with a ₦36 million tax bill.

When I came across some of Peller’s video clips, it was funny to me because he said he doesn’t own a company and thought it’s only companies that pay tax.

He also said he can’t pay such an amount because he doesn’t have a job, that he only makes money online on TikTok and not in Nigeria.

Let me tell you the truth,
the law doesn’t care about your ignorance.

Some of you reading this will also cry more than PELLER starting from 2026 if you fail to restructure yourself and your business now.

I have been preaching business structuring here on Facebook since the day of my project research defense in UNILAG.

First of all, I want you to know that everyone pays tax, whether rich or poor.

In fact, the poor actually pay more tax than the rich because 99% of them don’t know how to legally reduce their tax burden.

But since it’s my duty to see you grow, let me give you the best advice your mentor will never give you for free.

Take a seat and read this post, let me tell you how to escape from the same trap Peller has found himself in now, because from next year, there will be no escape.

In Nigeria, we currently practice a multi-tier, mixed tax system which can be confusing and sometimes leads to one being overtaxed or undertaxed. But the present government has passed a new law which means that from 2026, Nigeria will start practicing a Progressive Tax System.

This means that the more income you have, the higher the taxes you pay.

From next year, the rich will pay higher tax, while the poor will pay smaller amounts, and in some cases, nothing at all, depending on earnings.

Let me remove all the big grammar in taxation for those of us that studied Financial Accounting in school 😂 and break this down to you as if you were in primary two.

The new tax law, commencing fully in 2026, states that any individual earning less than ₦800,000 per year will pay no tax at all.

And any company with less than ₦50 million yearly turnover will also pay no tax at all.

Now, let's talk about who Must Pay Tax from 2026

In taxation, we their is what we called PIT and CIT:

PIT means Personal Income Tax (for individuals)

CIT means Corporate Income Tax (for companies)

With the new progressive tax system, if you earn above ₦800,000 as an individual, you are required to pay about 15–25% of that money to the Federal Government.

For example:

₦0 – ₦800,000 = 0% tax

₦800,001 – ₦3,080,000 = 15% tax

₦3,080,001 – ₦12,320,000 = 18% tax

₦12,320,001 – ₦24,640,000 = 21% tax

₦24,640,001 – ₦49,280,000 = 23% tax

Above ₦49,280,000 = 25% tax

In summary: If you make around ₦50 million in a year, you are to pay ₦12,500,000 to the Federal Government.

For Companies:

Anything less than ₦50 million = no tax

Above ₦50 million yearly turnover = 25% corporate tax

You see why you must restructure your business and see yourself as a brand, a company, and not just “catching cruise” watching TikTok videos online.

For the Lagos State Government to bill Peller ₦36 million in tax, if we calculate using the new progressive system, it means he has made more than ₦152 million.

And let me tell you the truth, the government knows the inflow and outflow in your account. For them to have come up with that figure, it means they have done their background checks.

The best advice anyone can give Peller now is to hire a tax expert to review his accounts and negotiate with the government. If not, there is no escape.

The reason why this tax issue seems strange to some of you is because the system wasn’t properly organized, and it’s only Lagos State Government that takes tax seriously.

But from next year, no more “state this, state that.”

From 2026, the Federal Government will collect the tax directly.

And there will be no way to escape. The same cry Peller is crying now, some of you will cry on this same social media when the time comes.

It’s just 5 months to go before we enter 2026.

And don’t think the government can’t track your income, my friend, that’s a lie.

With the new technology in place, the government can track your income just with your NIN and BVN. Even if you scatter your money across 20 different banks, NO ESCAPE 😂.

Now, as you’re reading this, you may be wondering: How do we reduce our tax?

My brother, I have good news for you, so you won’t make the same mistake Peller made, whether you’re a content creator, blogger, businessman, or even a beggar (oh yes, begging is now a business in Nigeria; haven’t you heard about “urgent 2k” boys and girls?).

First, you need to Restructure Your Business.

Restructuring starts with registering your business properly. Instead of registering your business as a Business Name, register it as a Limited Liability Company (Ltd).

With this, your business is a separate entity and you are also a separate entity.

PLEASE NOTE: when you register as a BUSINESS NAME, my sister or brother, you don’t have a company yet ooo.

What you have is called a sole proprietorship, which means a one-man business.

You are not separated from your business, and all your income is counted as personal income tax, not corporate income tax.

One major advantage of having an Ltd is that, before you pay any tax, you are permitted to deduct your expenses, including operational costs, salaries, marketing costs, etc.

That’s why those who understand stock market fundamentals analysis see things like “PROFIT BEFORE TAX” and “PROFIT AFTER TAX.”

If Peller had structured his brand before now, collect all his revenues under corporate account and registered something like “Peller Entertainment Ltd,” he could have deducted expenses such as cameraman salary, video editors, equipment, and other costs.

His tax bill could have been less than ₦10 million, or even ₦5 million.

For those of you arguing with me in the comments section of my last post about, "Why Igbo Businesses failed after the Founder's death", that business structuring does not matter, you now see one of the advantage of structuring your business.

Another important point,
After registering as Ltd, stop collecting payments with your personal account. Use your corporate account for all payments.

And for those of you whose friends abroad send ₦100 million to your account to buy land or houses in the village, my friend, you must pay tax on all that income from next year😂.

Separate your personal money from your business money.

Stop buying groundnuts and corn with your corporate account.

Pay yourself a salary. Being CEO and sole director doesn’t mean you should dip into company funds to buy shawarma for your urgent 2k girlfriend.

Not paying yourself a salary is not a sacrifice, it’s financial mismanagement.

Document all your income and expenses. Avoid cash transactions where possible.
And if you must use cash, keep receipts (not invoices, many don’t know the difference). I’ll save that topic for another day.