Please someone should kindly send me a sample of SOP to Infonancialhub@gmail.com
Thanks alot, it is really urgent, I'm preparing my application. Thank you so much

Good day beautiful people, please can anyone help me with a sample of SOP for SOWP application. Also what is the best way to prove family tie or ties to home country.
Thanks for the anticipated response!

Good day beautiful people, please can anyone help me with a sample of SOP for SOWP application. Also what is the best way to prove family tie or ties to home country.
Thanks for the anticipated response!

The 2017-2019 Medium Term Expenditure Framework and Fiscal Strategy Paper sent to the National Assembly by President Muhammadu Buhari for legislative approval narrowly escaped being rejected again at the Senate on Wednesday.

The upper chamber of the National Assembly condemned the projections of the proposal in the document as unrealistic, even though it said the Presidency had set December 1 for the presentation of the 2017 Appropriation Bill to the legislature.

The senators, who took turns to criticise the new version of the MTEF/FSP as well as the officials who prepared the document during the day’s plenary, submitted that it should be sent back to the executive to include the “correct” figures showing the true state of the economy. The MTEF/FSP, which will form the basis for the national annual budget for the three years, had earlier been rejected by the Senate over the failure by the executive to include some critical details in the document. The Majority Leader, Senator Ali Ndume, had described the first version of the MTEF and FSP as “empty.” Although it was not announced at the plenary on Wednesday if the missing details had been sent to the Senate before it began work on the MTEF/FSP, the debate on the proposal indicated that the executive might have sent the details to the legislature.

The Senate however agreed that rather than send the MTEF/FSP back to the executive, the legislature was bound to tinker with the figures of the projections to make the proposal “realistic.” Ndume, who led the debate on the MTEF/FSP, explained that the document articulates government’s revenue and spending plan as well as its fiscal policy objective over a period.

http://www.infonancialhub.com/buhari-present-2017-budget-dec-1/

my people its a serious matter, what is the hope for our generation?

@ Unsad , you do want to go back to school abi...lol

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Federal Government to urgently evaluate the level of its domestic indebtedness and develop a framework for settling these debts.

The committee, in a communique issued at the end of its two-day meeting held at the headquarters of the CBN in Abuja, warned that the huge government indebtedness to economic agents had slowed down business activities.

In the communique, which was read by the CBN Governor, Mr. Godwin Emefiele, the committee noted that the development was not good for the economy as it was compromising the integrity of the financial system.

While reiterating that monetary policy alone could not address the current economic crisis, the CBN governor noted that the committee called for an enrichment of fiscal and other sector initiatives and interventions towards resolving the growth challenges in the economy.

He said these interventions were vital in order to promptly revive confidence in the economy.

Emefiele said, “Members stressed the need for a robust and more keenly coordinated macroeconomic policy framework that would restart output growth, stimulate aggregate demand and rein in inflation expectations.

“The MPC urged the Federal Government to urgently assess the extent of its indebtedness to domestic economic agents and develop a framework for securitising the debts in order to settle its outstanding domestic contractual obligations, which cut across all sectors of the economy.

“These accumulated debts have slowed the business activities of economic agents, most of who are indebted to the banking system, thus compromising the integrity of the financial system. It also advised the bank (CBN) to commit to greater surveillance and deployment of early warning systems in managing the banking system.”

The CBN governor said the committee called on security agencies to sustain their checks on the activities of illegal foreign exchange operators in order to bring sanity to that segment of the market.

He said, “The extant foreign exchange regulation outlaws the trafficking of currency on the streets as some unlicensed operators currently do.

“Thus, to evolve an appropriate naira exchange rate that stabilises the foreign exchange market, Bureau De Change operators must strictly observe the terms and conditions of their licences.”

On whether the CBN was supporting jail terms for people hoarding dollars, Emefiele said the apex bank would not support any such move.

He said while the current foreign exchange regulations of the CBN did not in any way support jail term for people who hoard dollars, he was aware that the Nigerian Law Reform Commission was working towards reviewing the regulations.

The apex bank boss, however, added that the CBN would not support any move to prescribe jail terms for people who hoard dollars.

He said, “Let me use this opportunity to reiterate that it is not in our foreign exchange regulations that people should be jailed or their dollars confiscated. But I am aware because just today (Tuesday), I was told that the Nigerian Law Reform Commission is looking at reviewing the exchange regulations, just like it normally will from time to time depending on the exigency of the time.

“We have not been contacted regarding whether or not some of the clauses that are involved are included in the review to be conducted by the Law Reform Commission.

“But I am saying here categorically that if we are contacted, or whenever it becomes an issue for discussion, we will advise against a clause that forbids people from keeping their dollars if they chose to, or a law that says people should be jailed for keeping foreign currencies.”

When asked if the apex bank was concerned about some of the risks facing the banking system owing to the current economic crisis, the CBN governor admitted that while all players in the financial system were facing “tremendous risks,” the central bank would ensure that they would not crystalise to a point where depositors’ funds would be lost.

He said, “As a result of the current challenges being faced by the global economy, all agents in the financial system, such as banks and other players, are facing tremendous risks.

“When there is a slowdown or recession, naturally banks will face certain risks such as non-performing loans rising and different other risks, and this imposes on the regulator a greater challenge to ensure that it strengthens its prudential guidelines to ensure that the banks and particularly depositors are protected.

“Nigerian banks, like other banks in other climes, are facing risks. But those risks are surmountable, and the central bank is doing all its best to ensure those risks don’t crystalise to a point where we will begin to talk about depositors losing their deposits. So for that reason, the rumour about banking sector risks is overtly elevated.”

On whether the apex bank was considering reducing the number of BDC operators so as to better regulate their activities, the governor said the CBN might consider that option at the appropriate time.

He said, “We believe that everybody (BDC) is entitled (to have a licence) once the regulations are set; there is no need to preclude you if you meet the conditions. But of course, naturally, the regulator, which is the CBN, has a right to put in place policies that limit entry. If we want to limit entry, we know what to do.

“I can assure you we will do it anytime we decide to limit entry or even exacerbate exit from the market, and that is something we will look into at the appropriate time.”

On the foreign exchange inflow through the CBN, the governor said the country recorded a decline of $447.5m or 31.85 per cent from $1.4bn in September to $957.37m in October.

He attributed the decrease to lower crude oil and other government revenues in the period under review, lamenting that despite the resumed Joint Venture payments in October, the total outflows also continued to decrease.

Foreign exchange outflows, according to him, dropped significantly by 58.68 per cent from $2.25bn to $1.01bn during the period.

Emefiele said the committee implored the CBN to continue to direct more focus at making foreign exchange available to the agriculture and manufacturing sectors of the economy.

This, according to him, can be achieved by enforcing its policy directing Deposit Money Banks to allocate 60 per cent of the available foreign exchange to these sectors.

On the Monetary Policy Rate, the CBN governor said the committee decided to leave it unchanged at 14 per cent.

He explained that all the 10 members who attended the MPC meeting agreed to maintain the current monetary policy stance.

Apart from the MPR that was retained at 14 per cent, the governor said the committee also voted to retain the Cash Reserves Ratio at 22.5 per cent.

Also retained were the liquidity ratio, which was left at 30 per cent; and the asymmetric window, which was left at +200 and -500 basis points around the MPR.



{PUNCH}

http://www.infonancialhub.com/fgs-huge-debts-crippling-financial-system-cbn/

The Academic Staff Union of Universities on Tuesday confirmed that it had ended its one week nationwide warning strike over the non-implementation of its 2009 agreement with the Federal Government.

The President of ASUU, Prof. Biodun Ogunyemi, who said this in Abuja, urged lecturers to return back to their classrooms.

“We are making progress especially with the intervention of the Senate and in the next one or two meetings, if we are able to get a clear path to the matter, we will avoid the elongation of the strike.

“I have been receiving these reports that ASUU says strike continues, no, the strike ends today (Tuesday). All lecturers are to go back to work


on Wednesday morning.”


Ogunyemi said ASUU was hopeful of a positive outcome going by the response coming from the Federal Government.



http://www.infonancialhub.com/ASUU-ends-strike/

he Senate has expressed surprise at a recommendation by the Nigerian Law Reform Commission for a review of the Nigerian Foreign Exchange Act to make people who have in their possession for more than 30 days foreign currencies to go to jail for up to two years or pay a fine of 20 per cent of the amount.

The Senate stated in a statement signed by its spokesperson, Senator Aliyu Abdullahi, that with its focus on boosting investors’ confidence in the nation’s economy, such a move would prevent investors from entering and exiting the market freely and that its members would reject the proposal outright.

Abdullahi said in the statement, “The measure is disruptive and counterproductive, threatening to undermine many of the reform efforts already underway in the legislature and by government ministries, which are intended to boost investor confidence.

“The Senate will never pass such a punitive and regressive proposal. Overall, some of the commission’s recommendations have many sound attributes and could help Nigeria’s investment climate. We believe the CBN should have the authority to regulate the forex market and determine the exchange rate policy as already enshrined in its enabling Act.

http://www.infonancialhub.com/well-reject-proposal-punish-dollar-hoarders-senate/


“A market-oriented exchange rate policy is the best recipe for guiding the operations of the foreign exchange market. This will ensure the supremacy of market mechanisms in efficiently allocating scarce forex resources. We will continue to work with the Executive to halt the worsening recession and return to economic growth.”

The proposed changes are said to be intended to help control capital flows and prevent foreign exchange from being taken out of the country.

“The amendments are necessary for effective monitoring and control, and to ensure probity in foreign exchange transactions in Nigeria,” the draft published on the website of the NLRC stated.

Meanwhile, the CBN has said that it has nothing to do with such a legislation that will bar citizens from holding foreign currencies for more than 30 days.

The Acting Director, Corporate Communications, CBN, Isaac Okorafor, stressed that the apex bank, in line with its mandate, was committed to safeguarding the international value of the country’s legal tender.

He denied knowledge of the proposed clause recommending a jail term of two years for any holder of foreign exchange in cash or a fine of 20 per cent of the amount.

“To the best of my knowledge, the Central Bank of Nigeria has not proposed any bill seeking to arrest and jail persons holding foreign exchange for more than 30 days,” Okorafor said in a statement.

He also denied that the CBN was planning to confiscate funds in domiciliary accounts of individuals, saying such a claim was false.

A cleaner, Peter Oko, has narrated how he stole N5.675 million from the New Nyanya branch of Diamond Bank, where he worked.

The 29 year-old stated that he took the keys to the vault, stole the money and hid it in a carton, which he took home after the close of work.

The money was however recovered by the police, which said that the suspect had been charged to court.

Oko told Northern City News at the Nasarawa State Criminal Intelligence and Investigation Department in Lafia that he carried out the theft alone, saying, “As a cleaner, I knew where all the keys were kept.”

He added, “I single-handedly carried out the operation because I have been working as a cleaner in the bank for the past 10 years and my eyes had been on one of the keys to the vault, where the bank used to keep all its money.

“As a cleaner, my attention was not only on the keys, but on how I will carry out the operation successfully without being caught by either the security or any staff of the bank.”

The suspect said he stole the money without the knowledge of the bank workers, adding that he had access to all the foreign currencies in the bank as he knew where they were kept.

http://www.infonancialhub.com/stole-n5-675m-diamond-bank-cleaner/

“As a cleaner, I knew where all the secret files were kept and where the bank kept its keys where you can have access to dollars, Nigerian currency and all other currencies.”

Oko blamed the economic situation for his action, stating that he had never been involved in a criminal act before now.

“The devil of economy recession pushed me into the crime; I have never committed a criminal act before, luck ran out on me and I was caught in the process,” he stated.

The state Commissioner of Police, Abubakar Bello, said the crime was reported to the police in October, 2016, by the bank, adding that the matter was then transferred from Karu Divisional Police Headquarters to the SCIID for investigations.

Building a business requires one to have a solid plan and know exactly where they are going from the start.

Andile Hote, head of new business at Mercantile Bank, shares insights on what it takes to build a solid foundation for a business.

Manage your cash flow from day one

Cash constraints can be one of the biggest factors limiting the growth of a new business. This means that good cash flow control is crucial from the first day of trade. Effective credit management and tight control of overdue debts forms an essential part of managing cash flow.

New work or orders is what every business strives for, but be careful of biting off more than you can chew. It is easy to fall into the trap of overtrading where you take on more business than your current resources – whether it be cash, staff or assets – can sustain. Overtrading can place such a strain on the working capital a business has available that it can be extremely hard to recover.

It is also important to plan ahead and ensure that you are ready to arrange the most suitable and affordable funding as the financing needs of your business change over time. Sound financial management and ensuring that your business has adequate cash on hand will make it easier to secure financing, whether you are speaking to a potential investor or applying for a loan from a bank.

Get the right people

As an entrepreneur you are the driving force behind creating and growing your new business. But it is important to ensure that you add the right people to your team – whether it is hiring an accountant to help manage your finances or a shop assistant to help customers. As your business grows you will need to delegate the responsibility for particular areas to specialists.

Advice from someone with experience can be invaluable in building a solid foundation for your business. For many successful entrepreneurs, learning to listen to and implement advice can be one of their biggest challenges. However, it can be essential if you want to make the most of new opportunities.

Find the right mentor or advisor early on to share your challenges and ideas with. It is very likely that many other entrepreneurs have faced the same obstacles you are struggling with, and drawing on their experience could save you both time and money.

Keep up with your market

Most entrepreneurs realise that they need access to a market if they hope to sell their great new product or service. Without a market, a new business will find itself stuck in the starting blocks. However, this does not mean that this market will always remain the correct target for your business. Business conditions change continually, so businesses need to do continuous market research as well.

Without continuous research, you run the risk of making business decisions based on out-of-date information. This means that you need to ingrain ongoing market research into your business’s culture and operations early on. Taking the time to talk your customers pays off, while suppliers and other business partners can also be important sources of market information.

Put the right systems in place

Bigger businesses often boast that they can be more efficient because of their scale, but operating as efficiently as possible given the resources at your disposable should be an immediate priority from the moment you start doing business.

Putting in the right infrastructure and systems can be a key contributor to efficiency and an investment in this will pay off in both the short and the long term. You will benefit every day from more effective operations and if you ever decide sell your business, demonstrating that it has well-run, efficient systems will be an important part of proving its value.

Be ready for growth

A solid foundation is only the first step towards ensuring the success of your business, but you also need to be ready to welcome change as it grows. Complacency can be a major threat to a growing business. It is easy to assume that your business will remain successful because it has been doing well so far. Revisit and update your business plan regularly. This will help to ensure that you remain aware of changing market conditions and to think about how you need to respond to them.

As an entrepreneur you need to be fully committed to your strategy, even if it takes you out of your comfort zone. This may involve making hard decisions. But if you are not prepared to make them, you may risk putting your business at a dangerous competitive disadvantage.

{ BUSINESS TECH}
http://www.infonancialhub.com/5-tips-getting-new-business-off-best-start/

buja—The Federal Government has said it would spend N56.3 billion ($150 million) on rural electrification in the country.

The Minister of Power, Works and Housing, Mr. Babtunde Fashola, disclosed this yesterday at a business forum on ‘’Financing Opportunities in the Nigerian Power Sector’’ in Lagos. Fashola, who promised to uphold all contractual obligations entered into by the government, said the N56.3 billion would be spent, using 44 tertiary institutions and the small hydro dams in the rural areas of the country as anchors for the programme. The Minister said: “Any talk of cancellation of the privatization was a negative signal to investors that Nigeria has no respect for contracts and would not support that. “If revisiting means that the operators should allow more investors into the business I am for it but with the caveat that it has to be done within the Rules of Contract, negotiation and possible arbitration”. He said government would use 44 tertiary institutions and small hydro dams in the rural areas as anchors for the electrification programme. Fashola said the money would be deployed towards providing Independent Power Plants to supply electricity to tertiary institutions and rural communities. He said that 37 of the 44 tertiary institutions audited for the project were universities, while seven were teaching hospitals. The minister said government would deploy 37 IPPs, made up of nine gas plants and 28 solar plants, with a combined generation capacity of 120 megawatts to power all the universities. Fashola said the 37 IPPs will replace 1,105 generators hitherto serving the institutions and generating 210 MW of inefficient and unclean energy. He said the amount would cover capital expenditure, operations and maintenance. On financing opportunities in the nation’s power sector, Fashola, emphasised the need for financing and liquidity stability in the sector. He said the Distribution Companies required financing for the supply of meters, upgrading distribution equipment such as transformers, ring mains

Yola—Former Vice President, Atiku Abubakar, yesterday, took a swipe at past administrations in the handling of Boko Haram insurgency, saying the sect would not have reared its head, if he was President. Atiku spoke Tuesday night at the American University of Nigeria, AUN, Yola, while distributing relief materials to over 5,000 internally-displaced persons, IDPs. He said: “If I were the President of Nigeria when Boko Haram insurgency erupted, I would have used all means at my disposal to avert it. “When we were in government in 2002, a similar incident, which should have been more deadly, erupted in Yobe State and we immediately contained it and nothing was heard of it again.

“Such an ugly incident requires a steadfast leadership that is decisive in its deeds in dealing with it. For Boko Haram insurgents to have overran seven of the 21 local governments of Adamawa State beats my imagination, and the efforts I put in place that prevented Boko Haram from capturing the entire state is left between me and my Creator. “As I clock 70 years this year, all my activities will be dedicated to the cause of internally-displaced persons, IDPs, not only in Adamawa, but also in Borno, Yobe and other IDPs camps spread across the country.” The former Vice President implored all his admirers, who wished to identify with him as he clocks 70 to channel them to the IDPs. Earlier, Atiku and members of the Adamawa Peace Initiative, visited St. Theresa Catholic Cathedral and the Jama’atul Nasir Islam, JNI, where they distributed relief materials to IDPs.
{VANGUARD NEWS}

Donald Trump has emerged the winner of the United States presidential race. He is the 45th president-elect of the country known to be the most powerful nation on earth.

Donald Trump is an American business man and the president-elect of the United States of America. The 70-year-old man ran for office as a republican and defeated Hilary Clinton in the general election. He is scheduled to resume office as the 45th president by January 2017. Trump being triumphant has gathered a lot of mixed reactions. Following the revealing of his personality during his campaign including being painted as a bigoted misogynist and disrespectful man to the opposite sex, many swore him running for office meant the end of civilization as America knew it. To the surprise of many, including celebrities like Wole Soyinka who swore to moving out of America if Trump won the elections, Trump is the president-elect. Some Nigerians who have followed the race tightly shared their thoughts on Trump being winner of the elections. Many are calling it a dooms day or period for the rest of the world as Trump will handle all the codes of America’s nuclear arsenal, other think it is time that Africans living abroad come back home before they are chased by the government.
ere are some of their reactions on twitter;

‘Bukola @De_Buki I got so much good news this week but this one is bad and devastating, it drowns my productivity! #USElection2016 #ImStillWithHer
Dare @Daresofekun I believe its whole new world.. And its a blessing in disguise for Nigeria.. #USElection2016
Gift Magitsotso @Magitsotso Never underestimate the power of stupid people in large groups.#USElection2016 #DonaldTrump #USElection2016
godKwesi @kvngkwesi You want to tell me Obama, Jay Z, Beyonce, Lady Gaga all supported Hilary and she still lost? #electionday #Elections2016 #USElection2016
#94AndKinging@GeorgexTunez: “Buhari, Brexit, Donald Trump – the end is near truly!”
Ntiense Wills @NtienseWilliams: “Trump will certainly do better than Buhari. There is no room for comparism! Obama help Buhari & Putin help Trump
“Be careful of CHANGE! M. Buhari: “..i will be president for all Nigerians”; D. Trump: “..i will be president for all Americans.”
iwu francis @iwufrancis: “From #Buhari to #Trump.. The end is definitely near, we’re all in God’s hand.”
Son of Mercy @Tobiochudo: “Dear Nigerians, your president is still Muhammadu Buhari. [Just thought I remind you guys to paddle your own canoe].”
The Herculean @d_tameo: “I see Trump and Buhari been best of friends.”
Banigo F. T. Amy @amy_ibiye: “If Nigeria could vote Buhari y cant Trump win.. Shebi Buhari no debate at all sef… congrats America I wish you guys d best.”
Rayberry(Akwa Ibom) @Rayberry_NIG: “They gave us Buhari…We gave them Trump. 1 – 1 Draw.”
Mazi Pita (OON) @Mazipita: “Nigerians are calling Americans dumb people for voting Trump..Remember you stupidly voted for Buhari as your president..Be wise.”
ODUMODU @OdumoduBlack: “Neither Trump No Buhari or Hilary who has already struck afrika with her Evil Vibes Can save us. We save us. Only us fit save us.”
ANGEL @Sir_Opara: “Buhari and Trump giving Nigerians stress simultaneously.”
Don Corleone @PaulEmekaEze: “Funny how people who elected Buhari (and are still probably defending his govt) are here condemning Americans for voting Donald Trump.”
Fifunmi @FifunmiRex: “We taught Buhari was the saviour, well… Trump seen as Genghis Khan, just maybe he could be the best American Pres.”
Anaeto Chibuzo @Anaetoh: “Meanwhile all those who voted for Buhari and now want to run away from Nigeria, between Brexit and President Trump, u might need 2 try China.”
Ofor Ekene @KenzyOfor: “Again, we see a strong statement against the establishment – Arab spring, Brexit, Buhari, Trump…what’s next? #Change #NewEra.”
I am Enitan Bello @ennybelly: “BUHARI Couldnt Have Even Been Nominated For Presidency In The US. TRUMP Couldn’t Have Won An Election In Nigeria.”
KING SOUND BWOY@hurricanesaucey: “Orange is the New Black. Trump is the New Buhari.”
a caucasian @TheyLoveSosaaaa: “imagine buhari & trump stressing you at the same time … i can’t.”
Baba Ibeji @Marapolsa: “Donald Trump = Buhari of America#Elections2016.”

http://www.infonancialhub.com/us-election-2016-nigerians-react-donald-trump-presidential-victory/

The naira fell briefly to a new low against the dollar on the official market on Tuesday but rebounded after the central bank pumped $1.5 million into the market to stabilize the battered currency.

The currency weakened to a record low of N375.50 to the dollar earlier yesterday, according to Thomson Reuters data. The central bank later sold around $1.5 million to some commercial lenders, helping the naira to close at N305 to the dollar, traders said. An official at trading platform FMDQ confirmed a single trade worth $10,000 had been made earlier yesterday, at a rate of N376.63 early on Tuesday but gave no further details. The central bank said in June it would float the naira but has since kept it stable at around 305 versus the dollar via daily interventions. Liquidity on the official market remains limited and dealers said importers seeking dollars need to go to the black market, where the local currency traded at N465 on Tuesday, slightly up from N470 a dollar previously. The CBN had on Monday confirmed that operators in the manufacturing sector were able to access FX valued at over $660 million in the inter-bank market to source raw materials and spare parts for their firms. The move by the Central Bank was in line with its earlier promise to ease the FX pressure on manufacturing and agricultural businesses through forward sales under the flexible FX regime.

Details obtained at the weekend indicated that the sum sourced by the manufacturers was to facilitate the procurement of raw materials for agricultural, pharmaceutical, automobile, aviation, plant and machinery, power, telecommunications, and printing, among others.

http://www.infonancialhub.com/naira-recovers-interbank-foreign-exchange-market/

Savings is that part of your income you keep away for a financial need or project, it’s a culture that everyone should cultivate, it’s also a great tool for economic development because if everyone can cultivate the habit of savings you will be able to meet your financial needs, because poor savings leads to recession, we have talked about how well to save and manage your money, however there also are wrong ways to save money too, and I will be sharing them with you today.

1.There is no provision for emergency funds: This a fund that you can easily access when there is an emergency, it should be put in a liquid savings account, where it can be easily accessible and gotten quickly. A lot of us do not take cognizance of emergency funds when saving money, for instance if you decide to save 10,000 Naira every month from your monthly income, and you put the money in a fixed deposit/ or an account that you will not be able to access until a certain period of time, you should also put away some money aside in case of emergency, for example health or unexpected medical expense, or your car breaks down. I have had such experience before, I put my saving in an account that I won’t be able to access for the next one year, I did not make provisions for emergency fund, so an urgent family need came up, and I could not access my money, I had to borrow the money from a friend, the lesson point here is always have an emergency fund that you can easily access, have some money set aside for the unexpected.

2.Saving your money in a savings account: Putting your saving in a savings account is not profitable, the rate of return is not so good, because the interest rate in a normal savings account is very low, it’s about 2% which is quite low. There are some accounts you can put your money that will yield good interest for example Diamond bank’s High Interest Deposit Account (HIDA), Access bank’s target savings account, with an interest rate of 5% which is quite good, you can also put it in a fixed deposit account, bank money market savings account, it has a variable interest that could increase as your savings grow. Another beautiful thing about this account is that you won’t be able to access the money until you have reached your savings goal, which will prevent you from making unnecessary expenses. The lesson point here is to save your money in an account that will yield you a good interest, let your money work for you.

3.Keep track of your spending: You need to keep track of your spending regularly, do a regular revaluation in order to know whether you are over spending or not, for instance you budget to buy a new dress for N3,000 and you end up spending N6,000, you need to watch it and make adjustment, one way I think you can do this is to cut down the budget of another item you need to get so that you don’t over shoot your budget for the month or over spend, in that way you are still on track, avoid spontaneous buying and stick to your budget.

4.Not spending your money: It’s a good thing to cut down unnecessary spending and cut down your expenses to save effectively, but you should not leave out the necessary ones like on your basic upkeep, such as buying food rich in nutrients, doing regular medical check up, servicing your car in due time, not skipping your insurance payment, some people think the best way to save money is not to spend money, the fact is that you will get to spend more money when there is eventually a damage. You will spend more money on hospital bill just because you refuse to eat food rich in nutrient, you will spend more money buying a new engine for your car just because you have refused to service it regularly…so you see, it’s good to cut cost but not on necessary things.
Going for low quality products: Most low quality products are cheap, in other to save money most of us will prefer to buy such products, they will need replacement after few months of using it. When I was in the university when I am preparing for a new session, I would buy like 3 sandals, they were cheap and had low quality, within few months of wearing them they got bad, so I had to keep repairing it or replace them, meanwhile I had a roommate who got a more quality sandals and she never had to repair hers or replace them.. Looking back now, I realized I had spent more money…he he
Shop for value not price…you get to spend more money on maintenance, for instance you want to buy a generator or washing machine and you go for a less quality one, after a while it breaks down and you spend money on repairs upon repairs.

5.Saving what is left: When you spend and save what’s left you get your expenses paid, when you save and spend what is left your savings goals are met.

www.infonancialhub.com

o you know that your character can affect your finances positively or negatively? Financial success is not achieved by just folding your arms, there are character you need to imbibe to achieve this, however you might not have all the traits mention, but can you can take that one big step to make these traits part of you. Top on the list is



Gratitude: In life it’s so easy to focus on what you don’t have, goals you haven’t achieved, opportunities you have missed, the promotion in the office you have not gotten, when you focus on what you don’t have you spend more to be satisfied, you are telling yourself what you have now is not enough for you, you keep wanting more, it affects your mindset, you begin to see lack instead of great opportunities.
Read more on http://www.infonancialhub.com/personal-traits-can-affect-finances/

Fraud has become a crime of the millennium; a lot of persons have been victims of fraud in one way or the other. Fraud is something said or done in a dishonest way to trick or deceive people. It can affect anyone, anytime, anywhere; the truth is you are the only one that can save yourself from fraud because you are smarter than the fraudster. Here are few tips to enable you, your friends and family avoid becoming a victim of fraud.

1) Never share your ATM debit card details ( card number, expiry date, Security, pin number), mobile or internet banking details such as pin, password, username, with anyone, maybe your sister, best friend, or a family member, never share such details to a third party. It should be a secret and a confidential information to you, also do not write it down or send via mail, chat or SMS to anyone. Some months ago a customer came to make a complain in the bank that there has been a withdrawal from her account which she did not initiate, and it was done through the ATM, after a thorough investigation, the footage of the transaction showed that the customer’s roommate used her ATM card to make the withdrawals. She had shared her ATM debit card details at some point with her roommate. Never trust anyone with such read more on details.http://www.infonancialhub.com/7-ways-fraud-smart/

Investing your money is a means of making your money work for you. Treasury bill is one very good area you can invest your money, however, not many people know about treasury bills and how it works. It is a much secured investment.

What is a Treasury bill?

A Treasury bill is a short term government debt instrument; it is a way of borrowing money to the government for a short period of time, usually for a period of one year or less. They are government securities issued on behalf of the federal government by the central Bank of Nigeria (CBN), CBN act as the government bank. It is a way of borrowing money to the government for a short period of time, for instance if the government wants to execute a project and they do not have sufficient funds, the government will borrow money from the public by issuing treasury bills to the public through CBN, CBN will sell the treasury bills on behalf of the government.



What are the tenors and Interest rate?

The tenor is the duration of the investment. Central Bank of Nigeria will issue the Treasury bill at a specified interest rate, specifying the maturity, for Treasury bill it’s usually 91 days (3 months), 182 days (6 months), 364 days (1 year). However the tenors and interest rate changes from time to time.



As at 17th October, 2016 T-bills rate in Diamond and Access bank are:
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friends I believe keeping your money in the bank is more secured , you can do fixed deposit or buy treasury bills.

thank you my friend

Are you keeping your money in a savings account? Your returns will be low because of the very low interest rate on savings account (about 2%), having a fixed deposit account will be very great for you. Fixed deposit is a short term investment; it is an investment account that allows a customer to keep a specific amount over a period of time at an agreed interest rate. At the end of the agreed tenure, the investment can either be reinvested (rolled over) or returned back to the customer (liquidated), this is usually based on the customer’s request.



Features of Fixed deposit account

The tenure of the investment is a minimum of 30 days and a maximum of 180 days, you can fix your money for, 30days, 60days, 90 days, 180 days and 360 days.
The interest rate is higher than that of saving account. Interest rate for fixed deposit varies depending on the amount, period of investment, and bank to bank
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“Come now, let’s settle this, says the Lord. Though your sins are like scarlet, I will make them as white as snow. Though they are red like crimson, I will make them as white as wool. If you will only obey me, you will have plenty to eat.” – Isaiah 1: 18 -19 (NLT)

At a certain point in my life I realized I was drifting far apart from the love my life, I had lost my focus, I was so unfaithful, I made so many promises to Him that I was not keeping, I was so busy with other things, spending less time for the things of God, sin was gradually creeping into my life to take a very good position. I was so dirty on the inside but beautiful on the outside.
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1) Treasury Single Account (TSA) is a public accounting system introduced by the Government of Nigeria, in other to ensure that all government revenue, receipts, income from the ministries, departments, agencies (MDAs) are collected into one single account or set of linked accounts usually maintained by the central bank of Nigeria (CBN).

2) Prior to the time the TSA scheme commenced in 2012, the government was operating multiple accounts for the collection and spending of government revenue which is contrary to the section 80(1) of the 1999 constitution which says “All revenues or other moneys raised or received by the federation (not being revenues or other moneys payable under this constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one consolidated Revenue Fund of the Federation”. Therefore the constitution requires that government revenues should be remitted into a single account.

3) In 2012, government ran a pilot scheme for a single account using 217 ministries, department and agencies as a test case, it was a successful one, that’s why the government implemented the use of TSA, and this saved the government a lot of money. The government gave directives to banks to implement the technology platform.
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@ Bolaji, that is a good one.

@Antony, I will advise you learn a skill, it will help you after graduation.

Hello dearies, checkout www.infonancialhub.com for latest news on business, finance, global economy, fashion and lots more!😀

thank you Tonaydo.

Life in the university especially in Nigeria is not an easy one, you need to study hard to get a good CGPA, do a lot of late night reading, buy text books, hand-outs, attend seminars, project/ research work, accommodation, coupled with rising educational cost charge. Sometimes money sent for upkeep might not be enough as a result of the rate of inflation, there are genuine ways to make extra money for yourself, and here are 10 businesses you can combine with your studies and still make a good grade and become financially independent.



1) Starting a tutorial class: Most students need extra lessons for some courses that appear difficult to them, when I was in 100L used to attend tutorial class on maths, physics and chemistry. It’s one way you can make good money, what is required for you to start this is to get a good venue, it can be within the school premises or outside the school premises (It will be more cheaper inside the school premises), print some flyers to distribute to your course mates, and other students, spread the good news about your new tutorial with words of mouth too, choose a catchy name for your tutorial centre. You do not need to spend much in starting this business, you can budget N15, 000 for venue and flyers and some logistics, if you charge N3, 000 per month for each student, and you have fifty students, in a month you will make N150, 000. It is a very profitable business, you will not only make money but you will also improve yourself (personal development) by impacting knowledge to others.

2) Selling Okrika wears: This is popularly known as ‘Tokunbo’ or bend down select (Fairly used clothes, shoes, fashion accessories, gowns, chiffon tops, bras, shirts, trousers, belts etc.). It a business that is not capital intensive, it requires little capital, when you buy quality ones, it is more durable than some new clothes that are of low quality, students can easily afford it and tokunbo clothes have varieties, students will love it, you can operate a mobile market if you do not have enough money to rent a shop. To get more customers, you can give discount to customers that make repeated purchases. It’s a profitable business, Imagine you buy a bale of nice tops for N80,000 ( which contains about 300 quality tops) and you sell each at N500, that’s sums up to N150,000, excluding transportation, delivery you will make a good profit of N50,000 on each bale. The best market to buy these fairly used clothes Katangwa market, Tejuosho ultra-modern market, Aswani market, Yaba, Bali market, Balogun market, all in Lagos.

3) Make up Artistry/ Manicure/Pedicure: This is good business for you if you are passionate about beauty; it’s a fast growing business now. To get started get a good make up kit, pedicure and manicure materials to take care of people’s nails, your services will be required for weddings, anniversaries, dinners etc. Tara Fela Durotoye started her make up business when she was still in the university and today she is an icon in the make-up industry, you can start creating your world today.

4) Fashion Design: I had friend back in school, she makes beautiful wears, ranging from gowns to skirts, shirts, and she was making cool money from it, if you have the skill of sewing buy a sewing machine and start making beautiful clothes for your friends. A good sewing machine will cost N30, 000.

5) Barbing Salon and Hair dressing: If you are good with beautifying people by giving them a nice hair style or a cute haircut, why not make it a business?, you can budget N40,000 to get your materials like, A good Chaoba clipper, two towels, two apron, aftershave, spirit, a chair, mirror and few items.

6) Photocopying: Students will always make photocopies of materials, forms, it’s a very vital need in school, because it is an academic area there is a whole lot of administrative work, therefore there will be need to scan, print materials. To get stated get a good photocopying machine, scanner and printer.

7) Baking: Friends will always celebrate birthdays, a lot of recreational activities goes on in school like parties, picnic, you can bake cakes, make small chops, pastries for any occasion, all you need is to get an oven ( good one will cost about N20,000), baking pan, flour, and other ingredients. It’s a profitable business too.

Graphics art, website design/ Phone repairs: The need to create website for new businesses and blogs is on the increase, all you need is a laptop and data, you are good to go, you can also make some money by repairing phones when they are faulty,

9) Sharwama and Popcorn joint: After a stressful day, some students will love to hang out with friends, stopping by at your joint to take sharwama with a bottle of coke is cool…*smiles*, you will definitely make good sales.

10) Freelance writing/ Blogging: Do you have good writing skills?, you can write articles for newspapers, websites and even blogs, there are so many websites and newspapers that are willingly to pay good writers, you can also start a blog, choose a niche that you are passionate about for instance, sports, science and technology, entertainment, campus news blog.

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The winning attitude is the right attitude, A positive attitude helps you cope with your daily life affairs, drives you to towards achieving greatness, makes you have a great relationship with others, it makes you believe in yourself and abilities, it build your self esteem and confidence. How can you build a positive attitude?


 Start your day with God: When you start your day with God it gets you ready for the day, have your quite time and pray. You get direction, upliftment, joy in His presence, do not allow anything distract you, thank Him. Worship Him, Praise Him; it’s so refreshing and elevating. When you don’t have inner joy you cannot give joy to the people around you, you can’t give what you don’t have.

 Be Thankful: Focus on the good things that has happened to you, how well life has treated you, do not focus on what you don’t have, what you are missing, the job you just lost, or how bad a friend has treated you. Having an attitude of gratitude is very key as it affects your health, mood, career, and relationships. Be thankful today!

 Treat others well: Treat others the way you want to be treated, always put yourself in other people shoes. Focus on the good in others instead of amplifying their flaws and gossiping about them, pay sincere compliment to people, be a good listener, be kind with your words, simple words like ‘’thank you”, “I am sorry”, will help in making you have a good relationship with others.

 Be Positive: Never say I can’t, never say it’s not possible, see every disappointment as an appointment, every challenge as an opportunity and path way to greatness. Believe you can and you will achieve it. Remember only you can do it better, when you have a positive thought you have a positive attitude, negative thoughts leads to negative attitude. Read books and listen to music, have good friends that will make you think positively, it will boost your willpower and build your confidence.

 Stop complaining: See the positive sides of things instead of seeing the problem, think about the solution, a way out. Complaining will make the matter worst; it will not bring out the best in you.

 Take responsibility: Stop playing the victim, stop blaming people for your failures and mistakes, take charge of your destiny and actions.

 Take Correction: Have a willing to learn attitude, be opened to learning, wise people take corrections.