TUNDE OYEDOYIN
Tunde Oyedoyin is a London-based personal finance coach and founder of Money Intelligence Coaching Academy, a specialist academy of personal finance. He can be reached as follows: +447846089587 (WhatsApp only); E-mail: tu5oyed@gmail.com
As Nigerians grapple with the rising costs of living, especially the price of fuel, this year’s World Investor Week, WIW ( October 7-13th) could not have come at a better time. Reason being that it gave everyone the opportunity to enhance their financial literacy and lay down the marker for the year ahead.
With three main campaign themes of: technology and digital finance, crypto assets and sustainable finance, and another three complimentary themes on: fraud and scam prevention, investor resilience and basics of investing, there was more than enough to chew for everyone.
However, I’m going to tweak things around the complimentary theme of ‘basics of investing’. It’s always a good idea getting to the basics and building on from there.
But first things first, who’s an investor? Secondly, can anyone become an investor? Also worth considering is: how do we prevent ourselves from scammers and fraudsters?
When the word ‘investor’ is mentioned , some people’s minds might quickly race in the direction of a Tony Elumelu, Mike Adenuga, Jnr, or that of a Femi Otedola. But nothing could be further from the truth. While those are obviously the ‘A listers,’ a secondary school boy saving his pocket money and a nursery teacher with a side hustle may equally have a seat at the investors’ table.
Just think of investing as a game of football. It’s not just the players who lace their boots for the English Premier League or Championship clubs who are footballers. There’s: League One, League Two and other divisions down in the pecking order of the game.
In order words, just as it’s not just the Mo Salahs of Liverpool Football Club or Bukayo Sakas of Arsenal Football Club of this world who are footballers, anyone who puts money in a venture with the aim of getting a decent return on it is an investor. So, if you had moved ten thousand Naira from your salary or savings account to buy a thousand units of First City Monument Bank (FCMB) shares in August, you’ve joined the exclusive club of investors. If you’ve even merely left as little as twenty thousand Naira in your account at the end of last quarter, you may as well toot your own horn as a club member.
Of course, you’re way down there in the league, but you’re still an investor. Here’s the thing, if you can figure out how to put your money to work for you, you’re in the club.
Now that we know who’s an investor, the next part of the WIW I’ll be touching is how to prevent ourselves from fraudsters and scammers. The simple way to do that is to continually top up your financial literacy level. Besides, if something appears too good to be true, then it probably isn’t.
Do you own Sterling Financial Holding Services shares?
Folks, if you own the shares of Sterling Financial Services, take advantage of the rights issue offer to grab a few more.
You don’t have forever, though. So, pop over to your bank or give your stockbroker a ring.
Do something to mark WIW:
Although it ended on Sunday, I’ll urge you to do something to mark this year’s edition. Anything you’ll remember when WIW comes around again next year is worth doing.
It could be just putting fifty thousand Naira in your savings account or simply stacking twenty five thousand away under the pillow for the business you hope to start in 2025. Just ensure you get something out of this year’s World Investor Week.
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