₦airaland Forum

Frugality Is Not Deprivation
To some Nigerians, especially in Yoruba culture, frugality is often mistaken for alaroro — stinginess. But in the context of financial independence, frugality simply means eliminating waste and avoiding anything that does not add value to your life.
Many Yoruba readers will relate to the habits of constant aso ebi, owo ẹgbẹ, and other social contributions made just to “feel among.” These expenses quietly drain resources that could otherwise build long-term wealth.
Frugality is the discipline of avoiding wastage of scarce resources. For instance, my phone is a Samsung A56 with no fault. Buying an S24 simply to “feel among” adds no real value. This mindset is what destroys the foundation of financial independence, and I am not a fan of it.
Frugality does not mean my children will not attend good schools. In fact, I pay over ₦6 million in school fees yearly for the three of them.
Frugality is not a reason I refuse to help people or avoid so-called black tax. I spend an average of ₦500,000 monthly supporting others.
Frugality also does not prevent me from enjoying life. I go out once in a while and treat myself. My body no longer tolerates alcohol like in my younger years, but I still enjoy burukutu, which is readily available in Abuja.
Frugality has never taught me to deprive myself of the merits of life.
It has taught me prioritisation.
Prioritisation of savings.
Prioritisation of investment and diversification.
Prioritisation of financial independence.

Foreing App T212

DND069:
Bro, please which app do you use in running your stock. I actually love your portfolio. Very enticing.

When Savings and Investment Are Not Optional, but a Priority
Growing up with Iya Ijebu, my late maternal grandmother, shaped my mindset about money. I ended up living with her because my father was a polygamist — three wives, many children. Resources were stretched, and everyone had to learn early.
I remember that at age six, I already had a kolo (a clay piggy bank). She would give me coins to put inside it. More importantly, she taught me discipline — I had to keep it in a secret place where only I knew. I enjoyed filling my kolo with the Nigerian coins of those days. Apologies to the generation of Nigerians who never had the privilege of spending coins.
Fast forward. After high school, while waiting for my SSCE results, I worked at a construction site known locally as Birisoke (a Yoruba term). You earned your money in cash at the end of each day. That experience taught me the dignity of labour and the value of money earned through sweat.
By God's grace, I passed my SSCE with five credits and four distinctions. University admission, however, did not come easily. The era of late Abacha was marked by endless strikes. Looking back, those years felt even tougher than the present economic situation in Nigeria.
Eventually, I gained admission into my favourite varsity — Aqua Marine. The Akokites will understand the reference.
After graduating with a Second Class Upper, NYSC posted me to Abuja. At the end of my service year, I travelled across Nigeria searching for a job that never seemed to exist. But giving up was never an option.
Eventually, I was privileged to secure employment with the Federal Government. I was deployed to a toxic ministry where I quickly realised that your degree does not automatically place you above a director or manager with an ordinary level certificate or even an Arabic certificate, who has spent 10–20 years in service. You are answerable to them. The system is structured around “first come, first rise.”
After three years, I knew that environment was not for me.
Then opportunity came. A retiring merchant was selling his business in a prime location in Abuja — high human and vehicular traffic (don’t ask me the location). I took a bold step. I bid for the business and financed it using a personal loan, proceeds from disposed equities, and an aggressive investment fund I had been consistently building.
By the grace of God, the business returned my purchase price twofold in the first 12 months.
The rest, as they say, is history.
When life was tough, I blamed everyone — the government, Goodluck Jonathan, and even the so-called village people. Today, I see things differently. Government is not the primary reason many people struggle. Even the “village people” have their own trailer loads of problems.
The real issue is mindset.
Learn from many Igbo traders in Abuja. Some never worked for government, some never attended formal universities, many speak mostly pidgin English, yet communicate effectively in Hausa. They are extremely successful in their chosen entrepreneurship.
Meanwhile, many graduates with multiple degrees and polished grammar are still waiting for government rescue.
From my observation, there may never be collective prosperity in Nigeria. Individuals must free themselves from the oppressive system through personal initiative.
I refused to japa because I am my own boss. I believe my colleagues who relocated abroad cannot look down on me in any endeavour of life.
If I have just one request from the Nigerian government, it would be this: fix electricity. I want to venture into a 20-ton agro-processing factory capable of turning ₦2 billion into ₦8 billion within five years. The only limiting factor is stable electricity. Diesel or solar significantly erodes both seed capital and projected profits, based on my feasibility studies.
Finally, savings and investment are not optional — they are priorities.
We should enjoy life, but also plan for the years ahead.
With God, we will surely reach our goals.
NGX mission: ₦1B achieved.
NYSE mission: $1M — on course.

Thank you for your kind words. It is all by the special grace of God.
Sometimes I sit back and ask myself why God has bestowed this kind of grace on me. Truth be told, I am no longer even worried about my NGX portfolio.
Just look at what happened in my NYSE portfolio recently — it plunged deeply with unrealised losses of over $25,000. Yet, within a few days, it not only recovered but gained over $32,000.
Experiences like this must be shared so that others can learn. When the tide turns and a bear market comes, never surrender your quality assets at cheap prices. You may never be able to buy them back at those levels again.
By the special grace of God, I am now focused on growing my NYSE portfolio to $1 million by 2028. I believe I will achieve it, and when I do, I will post the evidence right here.
May God preserve us all till then.

jonnysessy:
@Mankind2024 is a good writer, i always love to read his posts. He is not backing down and have taken all naysayers from all angle. He has taking time in addressing all issues raised about his new milestone of a one billion naira portfolio on NGX. The way he analyse and make his points shows he had done what he claimed he has achieved. I tried going back from the beginning of this thread and his moniker had always been there. This means he didn't start investment yesterday. He had been there for sometime time now. His philosophy is do a research about stocks you want to invest in, buy it and keep buying and be patient with it and allow compounding to do the rest. This feat of a billion naira portfolio is achievable, but the question is how long it takes Mr A will be different how long it will take Mr B. I am always attracted to Mankind2024 write-up. I have started practicing some of the things he highlight but, where am lagging is the resources, he puts in much money in any stocks he believes in, so that when it blows he hammers ( though if the reverse is the case, he loses). I am yet to master the act of getting in with the whole haul. I first test the waters, particularly if it was a new stock in my portfolio after a year or two I deploy my cash in the stock ( but, that could just be a waste of time as the time is enough for the stock to have rallied). @Mankind story is a source of encouragement for me and I know that one day I will get and surpass that milestone.


Lesson learnt: Save money for investment purposes, study a stock before you commit your money, put in enough resources on the chosen stock, wait patiently in the selected stock since the fundamentals you saw has not changed and leave the rest to compounding

@Dupeodu, I hope you understand the true meaning of frugality. A frugal individual does not spend recklessly; therefore, your advice is an antithesis that contradicts my earlier submission.
​I recall your previous concerns on this thread, years back, regarding your investment in AIICO Insurance, specifically your frustration with how management diluted shares and undermined the expectations of minority shareholders. To ensure we are on the same page, I suggest reviewing the core tenets of frugality:
​Frugality vs. Cheapness
Frugality is the intentional management of resources—money, time, and energy—to eliminate waste and prioritize what truly matters. It is fundamentally different from being "cheap." While cheapness focuses solely on the lowest price (often sacrificing quality or ethics), frugality focuses on value—investing in what adds meaning to your life while cutting costs on what does not.
​The Core Principles
​Intentionality: Allocating funds based on personal priorities rather than social pressure.
​Resourcefulness: Finding creative solutions or repairing items rather than instinctively buying new ones.
​Efficiency: Maximizing utility by calculating the "cost per use" rather than the sticker price.
​Delayed Gratification: Discerning between a "want" and a "need" to wait for the best value.
​The Strategic Benefit
Practicing frugality isn't just about saving; it’s a path to financial independence and stress reduction. By choosing quality over quantity—such as investing in durable assets rather than disposable goods—you gain the freedom to live on your own terms, unburdened by debt or excessive consumerism.
​As Cicero noted: "Frugality includes all the other virtues."
​Summary of the Argument
​Rebuttal: The recipient's advice is labeled as "anti-frugal" and reckless, contradicting the user's stance.
​Contextual Reminder: References a past investment hurdle (AIICO Insurance) to highlight the importance of protecting value and shareholder interests.
​Definition of Value: Distinguishes frugality from "cheapness," defining it as a strategic, value-based approach to spending.
​The Objective: Asserts that true frugality is a disciplined path toward long-term financial freedom and resource efficiency.

Dupeodus:
I have been reading you. I noticed something in this post. You practice extreme frugality. It is good to get you to where you are today. My advice is to relax and live life. Not recklessly like a prodigal son but reasonably, so you may not regret later on.

I am not a financial adviser.
Portfolio balancing and rebalancing should strictly be an individual decision and prerogative.
I have consistently advised NSEMPA investors to embrace geographical diversification. While I invest more regularly on the NGX than on the NYSE, my US portfolio is deliberately tilted towards high-quality assets that can withstand major shocks and recover strongly even if I make no new investments for a long time.
A recent example was the Strait of Hormuz tensions. My NYSE portfolio was badly battered during the chokehold. However, once the fragile ceasefire took effect, the portfolio roared back beyond my expectations.
If a similar crisis had occurred in Nigeria, it might have taken six months or even longer for the green to return.
This is one of the key reasons I believe in spreading risk across borders.
As you can see from the screenshot, BRKB (Berkshire Hathaway Class B) is currently the least performing asset in my portfolio.
However, I can tell you this with full confidence: I trust it more than any of the others.

Entrepreneurrr:
Congratulations on your feat.

What advice will you give someone that will like to reach such a portfolio in like 2 decades or less.

How often should he/she rebalance portfolio?

Which type of stocks should predominate the portfolio?

Which ones to focus more NGX or NYSE?

Thank you.

I don’t know your profession, but let me share this from experience:
The fastest route to financial freedom in Nigeria is to exit the civil service golden handcuff(aka civilised slavery). Entrepreneurship remains the unmatched leverage in our environment. Consistent daily cash flow from your own business will always beat a monthly paycheck.
Be your own boss. Work hard, stay humble, and always have your personal reason for buying any stock. Take time to read and truly understand the fundamentals of the companies you invest in. Learning never stops.
Be consistent. Be patient. Be disciplined. Never do “copy-copy.”
A clear example happened earlier today. Pa Emmanuel sold his NGX Group shares. Many people who trust him might have followed suit and sold theirs too.
As for me, my 250,000 plus units of NGX Group — which I have been buying steadily since it listed and continued buying even up to the last bonus and dividend closure — are still intact and untouchable.
I once bought CSCS Plc years ago simply because Pa Emmanuel bought it. Later, through my own research, I discovered the company has a very strong economic moat, just like NGX Group. I have never sold a single unit. I continue to enjoy the regular “tasere” dividends they pay. I boarded at around ₦17, watched it climb to over ₦70, and later saw it return to mean — obeying the law of gravity. I’m not sure if Mr. Emmanuel still holds his own position, as he hasn’t mentioned it in a while.
If you truly want to enjoy the power of compounding, avoid the habit of booking profits too early — especially when you are not facing any emergency.
Focus on your long-term goals. Sometimes the reward comes earlier than you planned.
Stay disciplined, my brothers and sisters. The journey is long, but it is very rewarding for those who remain patient.

Entrepreneurrr:
Congratulations on your feat.

What advice will you give someone that will like to reach such a portfolio in like 2 decades or less.

How often should he/she rebalance portfolio?

Which type of stocks should predominate the portfolio?

Which ones to focus more NGX or NYSE?

Thank you.

You are deceiving yourself.
First, (TRANSEXPR) was never a liquid stock in 2025. I even attempted to sell some shares at a point and found no ready buyer.
There was no cross-market deal involved.
On 3rd January 2025, I bought my 2 million units in four separate tranches.
If anyone doubts it, they can simply issue a query to my broker on how those 2 million units were acquired.
I have deliberately avoided sharing too many stamped details and dates so I can remain the anonymous person I have always been on this forum.

Let me bring this to the attention of fellow investors and relevant stakeholders.
Over the years, I have experienced several situations where I bought shares on the NGX, the shares were duly credited to my CSCS account, but they never appeared in my broker’s order history or trade log.
For example, I bought TIP in 2021. Till today, there is still no record of that transaction in my broker’s order history, yet the shares were properly credited to my CSCS account.
I have also noticed on my CSCS account that some shares I purchased and received are not fully reflected when I view my portfolio summary or trade history. The balance shows correctly, but the detailed sequence of purchases and sales is often incomplete.
Additionally, I once bought a particular share in moderate volume, but the CSCS volume history for that day showed zero transactions.
These are clear gaps that still need urgent improvement. Our market infrastructure has come a long way, but there is still significant room for better transparency, accuracy, and timely updating of trade records across platforms.

Panadee:
On the 3rd of January, 2025 only 769,928 units of the 'highly liquid' TRANSEXPR changed hands on the 'open' floor. And for the 6 'market days' spanning Jan 3 to Jan 10, 2025 only a total of 1,519,558 units were sold. Those 2 million units (worth N3.3m) must have been a coincidental off-market transaction for institutional investors and not lowly retail traders. We thank God for the right to speak and to doubt

You Nigerians Can Doubt Anything… But Let Me Set the Record Straight
In none of my posts — old or recent — did I ever claim that I turned ₦1 million into ₦1 billion. That was never my story.
I left the Federal Civil Service in 2011 with just ₦1.4 million in my pension account. That account has received no further contributions since then. Today, it stands at only ₦4.1 million — a painful reminder of how slowly pension grows compared to inflation.
If there is any human being whose approval would truly mean the world to me, it is Warren Buffett. Because when I look around Nigeria and see countless successful billionaires who never stepped into a university classroom yet built empires through sheer grit and smart ventures, it humbles me.
The only real leverage we “educated” ones have over them is the power of equity investment — owning pieces of great companies and allowing compounding to work over time.
Many so-called educated Nigerians still doubt even the President when he boldly declares his vision to grow Nigeria’s economy to $1 trillion. So it’s no surprise that some doubt an ordinary person like me whose next quiet ambition is to grow my NYSE portfolio to $1 million.
The moment I share any progress, the usual response from the “like and omo osi” crowd is to dismiss it as luck or claim my journey is not genuine.
For the record:
I still wake up every day for a regular 8-to-5 job, Monday to Friday.
I practice extreme frugality.
My only weapons are discipline, patience, and determination.
This is the real story behind the numbers.
There is still over ₦140 million of my own sweat and labour sitting in bonds and mutual funds. I inherited nothing from my parents. I had no powerful connections — only the knowledge I gained from the NSEMPA thread and the books of investing legends.
Go back and read my older posts. You will see one consistent message: ordinary people can achieve extraordinary things through consistent saving, disciplined investing, and the magic of compounding.
I don’t seek validation from doubters. I only hope my story encourages at least one young person out there who is quietly grinding, saving, and investing — just like I was years ago.
That’s all.

Afromentalist:
You mean that in 11 years, you turned 1 milion portfolio to 1 billion ?

A Valuable Investment Lesson I Learned from the Berkshire Hathaway Legends
I started investing seriously in the NYSE in 2023. At the beginning, it was simply the desire to become a shareholder in great American companies. My knowledge was very limited back then.
That changed one day while reading investment news on Yahoo Finance. I came across an article about the “Magnificent 7” stocks and how they were positioned to reshape the way we live for the foreseeable future.
As I began reading more about them, it suddenly became personal:
The Google Chrome browser I had been using since my university days
The NVIDIA GeForce graphics card I once used for gaming
My addiction to WhatsApp, Facebook, and Instagram
Microsoft Office Word, which I used to type my university projects
The iPhone as a status symbol back in Lagos
My dream of owning an electric vehicle
The zero-to-hero story of Amazon
In my usual style, I turned the experience into a long post on Nairaland and even opened a separate thread about it.
The response I still remember clearly came from some brilliant minds in the NSEMPA thread: “You better be careful, the US market is not for the faint-hearted.”
I politely ignored the warnings and continued building my knowledge and portfolio.
At the time, many people said the US market was overpriced, with several of the Magnificent 7 stocks trading between 89x and 150x earnings.
One promise I made to myself was that I would invest in the S&P 500 for my children’s future. I had read widely on why no one should bet against the American market in the long run.
If readers can recall, I posted about the growth of my US portfolio in August 2025 when it had just crossed $100,000. By March this year, geopolitical tensions had dealt a heavy blow, with my portfolio showing an unrealised loss of over $26,000 at one point.
I remembered Warren Buffett’s words: “If you cannot watch your portfolio decline by 50% and still stay invested, you have no business in the equity market.” So I did nothing. I simply held on.
To my pleasant surprise, as of the close of business yesterday, that unrealised loss had completely reversed into an unrealised gain.
I also recall when a respected trader advised me sometime in 2025 to “book some profit.” I politely told him that booking profits is anti-compounding. I chose to remain consistent, disciplined, and patient instead.
This, in my view, is how real wealth is built.
Compound interest remains the eighth wonder of the world — a statement yet to be disproved.
I usually don’t like sharing screenshots of my NGX portfolio after an incident where a member claimed he could identify the broker from the screenshot design. That was a clear red flag for security reasons. Fortunately, it is impossible to do the same with my foreign broker.
Note: I am not seeking attention from anyone. I simply enjoy writing these true-life investment stories. If it benefits just one or two people on this self-investment journey, then it has served its purpose.

I bought back Transcorp Hotels with the same proceeds and even added extra units. I currently hold 107,000 units in my portfolio.
I won’t make that kind of mistake again.
I still have 100,000 units of ETI bought at below ₦5.
I also sold 75% of my NCR holdings and reinvested the proceeds into other companies.
It is your right to doubt from now toill eternity.

Panadee:
I like the motivation but it usually sounds to good to be true when one is always successful at picking the right stocks all the time

My Trans Nationwide Express Plc (TRANSEXPR) Story
If there is any company listed on the Nigerian Exchange (NGX) where I have done extensive reading and thorough due diligence, it is Trans Nationwide Express Plc (TRANSEXPR).
It was the very first stock I bought on 3rd January 2025 — 2 million units at ₦1.66 per share.
I invested purely based on its future potential and rumours of a possible partnership with UPS. At the time, the company was not performing spectacularly, but I noticed something important: management genuinely cared about shareholders. They never shied away from openly communicating their challenges. They also had a clear ambition to expand across all 36 states in Nigeria and eventually go international.
It was this conviction that led me to invest in TRANSEXPR.
Interestingly, I never anticipated that the company would call for a rights issue so soon — it came in November 2025, purely for expansion. The rights issue was offered at a discounted price of ₦1.05 per share when the market price was around ₦2.25 and my original cost was ₦1.66.
I initially hesitated and almost did not take up the rights. However, that inner spirit of prosperity I had prayed for would not let me miss the opportunity. One week before the offer closed, I quickly contacted Cardinal Registrars, obtained the application form, completed it, and took up my full rights entitlement. I also applied for an additional 1 million units. I am still praying the additional shares are allotted to me.
To my pleasant surprise, an unseen force of prosperity suddenly began to lift TRANSEXPR under the watchful eyes of investors. I watched in amazement as the share price rose steadily day after day.
Liquidity is ultimately a function of performance. An illiquid stock today can quickly become the toast of the market once management demonstrates genuine ambition and delivers results.
This is how real wealth is built:
No borrowing to invest
No chasing after the “next hot stock”
Discipline and patience
Saving is not an option — it is a priority. You cannot invest what you have not saved. The day saving becomes optional is the day an individual (or even a nation) begins to lay the foundation for poverty.
One of the earliest lessons I learned came from my late maternal grandmother, Iya Ijebu. She would often say in Yoruba:
“Eni ti o gbon fi ti e pamo, eni ti ko gbon fi ti e se awadanu.”
Meaning: “The wise person saves his money for tomorrow, but the unwise person spends his future today.”
I am patiently watching where TRANSEXPR is headed. The rights shares have not yet been credited to my account, but my modest initial investment of ₦3.3 million has already grown to over ₦12 million in less than 16 months. No fixed-income investment anywhere in the Nigeria can deliver such returns in that short period.
I do not day-trade or speculate. I simply believe that traders work for long-term investors. We plant the seeds, and the traders keep bidding for the fruits of our trees. They are hunters who make a kill once, while we are farmers. A hunter may kill one antelope, but the farmer who breeds cattle can turn two cows into a large herd. The antelope that is killed had the potential to produce many more offspring.
This is why I invest like a farmer — planting seeds, nurturing them with patience, and reinvesting dividends. It requires a lot of patience, a rare virtue in today’s world.

My brother, I’m actually surprised by your comment.
"You and your so-called proud gang cannot prevent me from sharing my real-life investment experiences on this forum. True consistency will always outperform your sophisticated technical analysis formulas.
This is a faceless forum. No one knows me, and I don’t know anyone here personally. I didn’t post my milestone to seek attention or impress strangers I will never meet. I shared it deliberately to motivate and encourage aspiring investors who are still struggling on this journey — the same way others’ testimonies once encouraged me.
If celebrating a hard-earned milestone after years of discipline, patience, and learning from legends like Buffett and Munger makes me an “attention seeker,” then so be it.
Some people come to this forum to learn and grow. Others come to mock and tear down. It’s clear which category you belong to.
I wish you well. When you eventually cross your own milestone, I hope no one mocks you the way you just mocked others.

ositadima1:
Lol, attention seeker. What’s the next milestone? It won’t be long before you come back with another attention-seeking epistle. Always craving attention, it’s alright.

I agree with you. We will surely get there by God’s grace.
Things are indeed far better with the current pension administration compared to 20 years ago. However, from my personal observation, the growth in pension balances is still slower than the rate of inflation for most subscribers.

ppogba:
For every situation in life, an individual or a society considers where they are coming from especially when it relates to a policy or program. If you know and I want to believe you know the chequered history of pension administration in Nigeria especially how well oiled in corruption it was, then one should give a bit of kudos to the pension administration process now.

As it is now, the funds are being managed for the beneficiaries and the guarantee of getting something is there. Must we talk about people who died in the process of getting their pension.

As per inflation and diversification, these are all TURENSHI to over 90 percentage of the beneficiaries. You are talking from a position of knowledge and only very few people especially amongst the beneficiaries belong in that position.

Researches have shown that most retired people have their pension and gratuity wiped off their grasp within a few years of leaving paid jobs.

Let them enjoy this at least for now.

Do not worry, and do not entertain any fear.
These are solid companies. Hold on tightly to your assets. They are still minting money and generating strong profits.
Many Nigerians have lost confidence in our local companies due to painful past experiences with promising firms that eventually failed. However, not all companies are the same.
If Access Bank or UBA were listed on the London, New York, or even Johannesburg stock exchange, given the profits they are currently making, neither would be trading below ₦400 per share.
With the current administration’s aggressive $1 trillion economy agenda, I strongly believe many of these undervalued and under-appreciated companies have the potential to skyrocket 10x or more in the coming years.
Stay patient and stay invested.

Dupeodus:
Or there is a dispute on the quality of assets. I am heavy on both Access and UBA and I am getting worried.

I have never recommended any specific stock to anyone.
What I personally prioritise are companies that truly care about their minority shareholders and have clear, long-term plans for value creation. In other words, I look for management teams that carry shareholders along and consistently reward them with good dividends.

olaremint:
this are the things i like to read here,not tinubu, obi, atiku nonsense. the question i would like to ask is, can you recommend good stocks to buy and why? thanks

I also worked briefly in the Federal Civil Service for about three years and still maintain a pension account with Stanbic IBTC Pension Managers.
Interestingly, I never once considered my pension as part of my investable assets. When I resigned in 2011, the balance stood at approximately ₦1.4 million. As of my last statement in March 2026, it had grown to ₦4.1 million.
Over that 15-year period, this represents clear value destruction when compared to Nigeria’s inflation rate from 2010 to 2026. The pension scheme, in my view, appears designed to weaken members financially while the pension fund administrators and their management teams benefit substantially.
I personally value freedom and full control over my assets. I prefer being able to manage and adjust my portfolio with ease whenever I choose.
My advice to anyone with substantial funds: strongly consider geographical diversification, especially through exposure to the S&P 500. This serves as a important hedge, just in case any future government decides to clip the wings of the NGX.
Aradel remain a jewel in the Delta.

Retnaija:
@Mankind
This is inspiring and motivational. Congratulations on this huge achievement. Like you said, once an individual realizes the government of the day isn't the problem, your mindset is the issue.

There are a lot of things we need to unlearn as a people. This goal was the same I crafted for my portfolio before opting for early retirement 2 years ago. I can see the impact of compound interest on my portfolio and I'm excited about reaching my finish line.

My question for you is regarding 'Pension'. I have huge funds sitting in my pension account and I'm beginning to consider the possibility of deploying a percentage of the funds for my long-term position in some select stocks , Aradel being a major one as I have some units and I'd like to increase my stake.
Is this a wise course to take?

Thinking and Reflecting Back...
Recently, I remembered Mr. Emmanuel’s portfolio rebalance. At the time, I saw it but chose not to comment.
He sold his holdings in NGX Group and Access Corp.
For me, NGX Group remains the most unrivalled, unmatched, and indomitable company with a true economic moat on the Nigerian Exchange. I recognised this strength right from when it listed in 2021.
I’m not a prophet, nor am I a financial adviser — just a self-motivated investor sharing my honest observation.
What this company is positioned to achieve as Nigeria marches towards a $1 trillion economy will be a story for another day.
I exercised maximum patience with NGX Group. I endured the long periods of stagnation, low dividends and volatility it brought. Today, the liquidity is crazy, and the real moated value is finally becoming very conspicuous.
Its long-term potential of ₦500 per unit is no longer a distant dream — it is steadily becoming a reality.

Thank you so much, my brother. I really appreciate your kind words and sincere congratulations.
You're right — I had been quietly working towards this 1 billion naira mark, and I'm grateful to God that it has finally happened. The past week’s bull run definitely helped push things forward, but as you rightly noted, it’s the solid fundamental stocks we’ve been holding that made the difference.
I’m happy to hear that even your “tasere” portfolio is also smiling this season. May the gains continue for both of us.
Thank you for celebrating with me. That Bible principle you mentioned is beautiful — rejoice with those who rejoice. I pray that very soon, we will all be celebrating your own milestone too. The journey is long, but with consistency, discipline, and patience, it is very achievable.
Once again, thank you for the love and encouragement. Let’s keep learning and growing together in this forum.
God bless you and all NSEMPA members. Amen

jonnysessy:
I will like to congratulate you on this milestone you have reached in your investment journey in the NGX (not to talk of your US stocks). This did not come as a surprise to me as you had always stated that you will soon reach the 1 billion naira mark. The crazy bull of this past week was enough to catapult you to that height since i know you have sound fundamentally stocks in your portfolio. Even me that have a tasere portfolio is experiencing beautiful upside. I celebrate with you today because my Bible taught me to celebrate who is celebrating, while i also mourn with people that are mourning. This is hoping that one day i will also reach this milestone. Congratulations once again.

May you be blessed with divine prosperity and the fulfillment of your requests.

Amarachibaby:
Congratulations sir, I tap into this.

👍

Martialfc80:
Congratulations sir!
It's crazy to even dream about this kind of feat but I choose to be crazy nonetheless. I hope I stumble on this comment in years to come.

In the Investment Marathon, Crossing a Milestone is a Thing of Joy.
I know many members of this forum would love to celebrate hitting their own milestones. For me, it’s really no big deal. If I had not read widely and learned from the experiences of successful investors, I wouldn’t be where I am today.
This is a faceless forum and no one knows me personally, but I feel indebted if I don’t share the secret that propelled my NGX portfolio to 10-figure paper assets.
First, my deepest appreciation goes to the Almighty God. I also owe a huge debt of gratitude to the Berkshire Hathaway legends — the late Charlie Munger and Warren Buffett. I have studied them so deeply that I can recite many of their guiding principles verbatim.
The first major battle I won in this marathon journey was defeating self-sabotage.
The reason many retail investors struggle to reach meaningful milestones is self-sabotage, combined with over-reliance on rumours, greed, and fear. I remember how, in the early days, I once blamed my broker for recommending poorly performing stocks which later return 10X. In anger, I sold off everything. Those were the days when you had to fill physical forms and email them to your broker before any transaction could go through.
Most of the time, I didn’t even know what I wanted. I was just chasing the crowd with zero fundamental knowledge — pure self-help mixed with self-sabotage.
Fast forward a few years, I came across an online website that allowed users to download free investing eBooks. I believe I was the first person to share the link in this forum back in 2015/16 (the site seems to be malfunctioning these days www.pdfdrive.net).
The moment I started applying the core principles of Berkshire Hathaway as taught by Warren Buffett and Charlie Munger, everything began to change. The light of prosperity came from three simple rules: Spend less, save more, and invest consistently — then allow the power of compounding to do the heavy lifting.
I stopped interfering with my portfolio. That discipline alone turned an investment of ₦1,000,000 into over ₦30,000,000.
Before I saw this light, I was a fierce critic of President Jonathan. I blamed him for almost everything wrong in my life. Today, I can’t even remember the various monikers I used to call him back then. I now understand fully that the government is not the primary reason most people fail to succeed.
The day I realised that abundant wealth begins in the mind, I started thinking and acting differently.
It is indeed a sweet milestone — especially in a nation where over 90% of citizens cannot boast of ₦100 million in liquid assets. Here I am today, saying with gratitude: Ebenezeri! The Lord has done it for me.
Another powerful lesson I learned from the Berkshire Hathaway legends is this:
If you cannot watch your portfolio lose 50% during a bear market or downturn and still stay invested, then you have no business in the stock market.
During the recent Strait of Hormuz tensions, my NYSE portfolio was badly battered. At the lowest point, I had an unrealised loss of $28,000. But I did nothing. I remained fully invested. Today, that unrealised loss has completely reversed into an unrealised gain of over $32,000.
If I had panicked and sold at the bottom, I would be regretting it today. Instead, I’m filled with gratitude to God for the privilege of building a 10-figure, highly liquid portfolio on the NGX.
This is my testimony, shared to motivate every aspiring member of the N1B Gang portfolio. Keep learning, stay disciplined, defeat self-sabotage, and let compounding work for you. Volatility is the price you must pay for the gift of compounding.
You too can do it and get there.



"Feel free to ask me any questions. I'd be happy to answer them, but please do not ask for my contact information."

Nigeria’s Total Public Debt Is Not the Worst Among Nations
Recent headlines expressing alarm over Nigeria’s public debt levels appear to have been amplified by critics of President Bola Tinubu’s administration. While concerns about rising debt are legitimate in any democracy, a broader look at global figures puts Nigeria’s situation in proper perspective.
As of 31 December 2025, Nigeria’s total public debt stood at ₦159.28 trillion (approximately $110.97 billion), according to official data from the Debt Management Office (DMO). This represents a 10.1% increase from ₦144.67 trillion in December 2024.
When compared with other countries using the same end-2025 reference period, Nigeria’s debt stock is modest in absolute terms:
United States: ~$38.3 trillion
China: ~$18.7 trillion
United Kingdom: ~$3.7–3.8 trillion
Spain: ~$1.92 trillion
Saudi Arabia: ~$405 billion
South Africa: ~$340–350 billion
Israel: ~$380–420 billion
Ghana: ~$61.3 billion
Iran: Limited transparent nominal data (debt-to-GDP estimated at 35–40%)
Nigeria’s debt-to-GDP ratio remains relatively moderate — hovering around 52–55% in official and IMF-aligned estimates — compared with many advanced and emerging economies that carry ratios well above 90–120%. Borrowing is a standard tool of governance worldwide; what matters most is how the funds are deployed and whether they generate long-term economic value.
Nigerians should note the ongoing infrastructure push across the country — from roads and rail projects in the desert regions of Sokoto to developments extending toward the coastal areas of Calabar. Visible progress in Abuja and other parts of the federation, including power, transportation, and other key sectors, reflects efforts under the Renewed Hope Agenda to transform critical national assets.
It is important to remember that previous administrations also borrowed significantly, with some funds reportedly diverted through inefficiency or outright mismanagement. The current administration maintains that its borrowings are directed toward productive infrastructure and national development rather than consumption.
As a citizen observing these developments without partisan bias, one can attest to tangible infrastructure advancements in the capital and other regions. Borrowing for genuine transformation is part of responsible governance, provided it is accompanied by transparency, fiscal discipline, and measurable results.
The summary of public debt levels across selected countries (above) should help citizens evaluate the discourse more objectively. Sustainable debt management, strong revenue generation, and efficient project execution will ultimately determine whether today’s borrowings deliver lasting benefits for Nigeria.

NB
Mr. Moderator, despite your apparent dislike for my posts and your bias against President Tinubu, I advise you to move this thread to the front page. It serves an important educational purpose for the readers.

The Strait of Humiliation
When the Junior Blocker was blocked by the Master Blocker, the venue was the Strait of Hormuz — the narrow waterway that carries nearly 20% of the world’s oil and gas shipments.
The Supreme Ayatollah had already been neutralised by the Bigger Devil and the Smaller Devil. In response, the Junior Blocker unleashed a massive barrage of missiles and one-way Shahed kamikaze drones against all unfriendly nations, with the Smaller Devil receiving 95% of the attacks.
For 42 days, relentless attacks and counter-attacks raged on. Then, a ceasefire meeting was proposed in Islamabad.
The Junior Blocker’s main leverage was its chokehold on the Strait of Hormuz. After 21 hours of tense negotiations, the emissary of the Master Blocker returned to Washington DC empty-handed. No agreement had been reached.
In response, the Master Blocker deployed 21 frigate-like warships to the Strait of Hormuz and seized control of all inbound and outbound vessels.
The Junior Blocker now had no choice but to seek permission from the Master Blocker to allow its own ships to pass through the strait.
The Lesson:
Humility surpasses stupidity and can prevent one from being rendered completely handicapped.

It’s not just the NGX. The S&P, NASDAQ, and Dow have all recovered to pre-war levels and are currently on a tear. My modest NYSE portfolio has already overshot its pre-war balance and is sitting deep in the green.

alezzy13:
Na wa o. In spite of global uncertainties, green just dey full everywhere

Naija stock market they try ooo.

ETI’s decision to pay a dividend in the course of 14years sparse history is a major milestone that defies its critics. It’s a reminder that market outcomes don't always align with our logic—being "right" or "wrong" is often secondary to the market's timing.
​While Mr. Nosa’s life-changing bet might suggest he knew something others didn't, the result is what matters. To the long-term holders since 2008: this April rally was a long time coming. We soldier on.

While traders are transient, the NGX is a constant. It’s a pity that irrationality often breeds short-sightedness—many would rather receive a handout than master the art of the trade.

InvestorHalal:
I give kudos to Afrinvest when it comes to funding your wallet, but them bad in other areas.

Not related:
And so LOCO stop talking on NSEMPA page. His warning help not to jump on JP Gold then, I for don dey cry by now. Some people are not kind to man sha

Sacrifice your ETI holding for ACCESS and embrace the opportunity cost.

nosa2:
Make you sha buy some ETI

https://tribuneonlineng.com/speculative-rally-lifts-trans-nationwide-stocks-despite-deepening-losses/

A typical case of what stock traders cannot promote does exist.

The Ecobank (ETI) Paradox: Why Investors Should Think Thrice
For over a decade, Ecobank Transnational Incorporated (ETI) has been the "Pan-African" darling of stock promoters while simultaneously serving as a red flag for long-term Nigerian investors. Despite a footprint that spans the continent, the bridge between corporate ambition and shareholder value has remained broken.
As aggressive campaigns tout the 2025 unaudited financial reports as a "buy" signal, history suggests that for ETI, the numbers on the page rarely translate to Naira in the pocket.
1. The 2008 Dollar Trap: A Legacy of Dilution
The "rot" arguably began with the infamous 2008 Public Offer and Rights Issue. ETI sought to raise $2.5 billion, pricing shares at $0.29 for the public. Nigerian investors, lured by the prestige of a dollar-denominated pan-African vision, poured in life savings.
The Reality:The timing was disastrous, coinciding with the global financial crash.
The Result: Investors who bought in 2008 have watched their capital evaporate. While the bank expanded its "empire" across 30+ countries, the local retail investor saw almost no benefit. The share price on the NGX has struggled for years to even approach the equivalent of its 2008 offer price in real terms, especially when adjusted for the massive devaluation of the Naira.

2. The Nedbank Exit: A Vote of No Confidence
Perhaps the most damning indictment of ETI’s long-term value came in December 2025, when Nedbank Group, one of South Africa’s "Big Four" banks and a long-standing strategic partner, finally pulled the plug.
Metric Details of the Nedbank Departure
Stake Sold 21.2% of ETI
The Financial Blow,Nedbank realized a R7 billion loss ($370 million) on the exit.
Investment vs. Exit. Nedbank initially invested R6.3 billion; they exited for a mere R1.8 billion.
When a sophisticated institutional investor like Nedbank—which has "insider" board representation—decides to cut its losses and walk away from a 71% value destruction, retail investors must ask: What do they know that the stock promoters aren't telling us?

3. The "Paper Profit" Trap of 2025
The current hype revolves around the 2025 financial results, which show soaring "Gross Earnings" and "Profit Before Tax." However, ETI’s books are notoriously complex due to its multi-currency operations.
Currency Mirage: Much of ETI's "growth" is often a function of hyperinflation and currency translation in volatile African markets. For a Nigerian investor, a profit reported in Togo (ETI's HQ) or elsewhere may never manifest as a dividend in Lagos.
The Dividend Drought:Historically, ETI has been stingy with payouts relative to its Tier-1 and 2 peers like GTCO or Zenith. Retained earnings are frequently swallowed by "impairment charges" or the need to shore up capital in struggling subsidiaries.

4. Governance Shadows and "Ridiculous" Sales
The bank's history is peppered with governance friction. From the 2014 whistleblower allegations regarding the manipulation of results to more recent reports of "fire sales" of assets to foreign portfolio investors at steep discounts, the narrative is rarely about the minority shareholder.
The recurring theme is that ETI operates as a holding company that prioritizes regional expansion and institutional exits over the dividend yield of the individual investor on the NGX.

The Verdict: Fool Me Twice?
The 12-year trajectory of ETI is a masterclass in how a "great African story" can be a "terrible investor reality." While the 2025 unaudited numbers look shiny, they do not erase:

1. A history of massive capital destruction.

2.The exit of a major technical partner (Nedbank) at a staggering loss.

3. A governance track record that has often left local investors in the dark.

Before following the herd into the 2025 "rally," remember: In the stock market, the best predictor of future behavior is past performance.
For over a decade, ETI has promised the continent but delivered only crumbs to its Nigerian shareholders.
Think thrice.


https://www.thisdaylive.com/2025/08/06/ecobanks-biggest-shareholder-safricasnedbank-set-to-sell-stake-in-major-reset/


https://www.thisdaylive.com/2025/10/24/multi-million-dollar-fraud-case-lingering-legal-battles-still-haunts-ecobank/

My message to NSEMPA investors.

The Ecobank (ETI) Paradox: Why Investors Should Think Thrice
For over a decade, Ecobank Transnational Incorporated (ETI) has been the "Pan-African" darling of stock promoters while simultaneously serving as a red flag for long-term Nigerian investors. Despite a footprint that spans the continent, the bridge between corporate ambition and shareholder value has remained broken.
As aggressive campaigns tout the 2025 unaudited financial reports as a "buy" signal, history suggests that for ETI, the numbers on the page rarely translate to Naira in the pocket.
1. The 2008 Dollar Trap: A Legacy of Dilution
The "rot" arguably began with the infamous 2008 Public Offer and Rights Issue. ETI sought to raise $2.5 billion, pricing shares at $0.29 for the public. Nigerian investors, lured by the prestige of a dollar-denominated pan-African vision, poured in life savings.
The Reality:The timing was disastrous, coinciding with the global financial crash.
The Result: Investors who bought in 2008 have watched their capital evaporate. While the bank expanded its "empire" across 30+ countries, the local retail investor saw almost no benefit. The share price on the NGX has struggled for years to even approach the equivalent of its 2008 offer price in real terms, especially when adjusted for the massive devaluation of the Naira.

2. The Nedbank Exit: A Vote of No Confidence
Perhaps the most damning indictment of ETI’s long-term value came in December 2025, when Nedbank Group, one of South Africa’s "Big Four" banks and a long-standing strategic partner, finally pulled the plug.
Metric Details of the Nedbank Departure
Stake Sold 21.2% of ETI
The Financial Blow,Nedbank realized a R7 billion loss ($370 million) on the exit.
Investment vs. Exit. Nedbank initially invested R6.3 billion; they exited for a mere R1.8 billion.
When a sophisticated institutional investor like Nedbank—which has "insider" board representation—decides to cut its losses and walk away from a 71% value destruction, retail investors must ask: What do they know that the stock promoters aren't telling us?

3. The "Paper Profit" Trap of 2025
The current hype revolves around the 2025 financial results, which show soaring "Gross Earnings" and "Profit Before Tax." However, ETI’s books are notoriously complex due to its multi-currency operations.
Currency Mirage: Much of ETI's "growth" is often a function of hyperinflation and currency translation in volatile African markets. For a Nigerian investor, a profit reported in Togo (ETI's HQ) or elsewhere may never manifest as a dividend in Lagos.
The Dividend Drought:Historically, ETI has been stingy with payouts relative to its Tier-1 and 2 peers like GTCO or Zenith. Retained earnings are frequently swallowed by "impairment charges" or the need to shore up capital in struggling subsidiaries.

4. Governance Shadows and "Ridiculous" Sales
The bank's history is peppered with governance friction. From the 2014 whistleblower allegations regarding the manipulation of results to more recent reports of "fire sales" of assets to foreign portfolio investors at steep discounts, the narrative is rarely about the minority shareholder.
The recurring theme is that ETI operates as a holding company that prioritizes regional expansion and institutional exits over the dividend yield of the individual investor on the NGX.

The Verdict: Fool Me Twice?
The 12-year trajectory of ETI is a masterclass in how a "great African story" can be a "terrible investor reality." While the 2025 unaudited numbers look shiny, they do not erase:

1. A history of massive capital destruction.

2.The exit of a major technical partner (Nedbank) at a staggering loss.

3. A governance track record that has often left local investors in the dark.

Before following the herd into the 2025 "rally," remember: In the stock market, the best predictor of future behavior is past performance.
For over a decade, ETI has promised the continent but delivered only crumbs to its Nigerian shareholders.
Think thrice.


https://www.thisdaylive.com/2025/08/06/ecobanks-biggest-shareholder-safricasnedbank-set-to-sell-stake-in-major-reset/


https://www.thisdaylive.com/2025/10/24/multi-million-dollar-fraud-case-lingering-legal-battles-still-haunts-ecobank/