🧵 PenCom just announced that Nigerians abroad & those earning in FX can now save pensions in dollars.

What does this mean?

Let’s break it down Before now, pensions in Nigeria were mainly saved in naira.

That meant if the naira kept falling, your pension value would also shrink.

Now, PenCom has opened the door for dollar pensions.

How do I know which company to invest in?

Here are 5 things smart investors check 👇 1. Performance Over Time
Look at how the company has grown in the past (sales, profits, share price).

History doesn’t guarantee the future, but it gives clues.

In every city, we have banks, supermarkets, phone companies, and power stations.

The stock market is similar!

They are called #Sectors, which means grouping companies that do similar things.

Understanding them helps you see where your money might grow best. 🧵🧵 The Financial Sector : Think Zenith Bank, GTBank.

They make money from lending, investments, & fees.

Questions to ask: How strong are their loans?

What's the economic outlook for interest rates?

Are people saving/borrowing more?

A healthy economy often means healthy banks!

Do you work remotely or earn in foreign currency? 💵🇳🇬

President Tinubu's new tax laws just changed the game for your income!

Here's what every Nigerian earning in dollars MUST know about staying compliant. 👇 If you're a tax resident in Nigeria (spend >183 days here), your worldwide income is now explicitly taxable, regardless of currency or where it's earned.

This applies directly to your dollar earnings from foreign clients/companies.

What happened to the SI Banks?

For most of last week, the following banks have been in the news in the United States: Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank.

Silvergate Bank is in the process of being liquidated or wound up.

Here are some tips on how you can pay your rent like a pro. The Ladda app helps you with automating your savings.

Download the Ladda app today and start saving towards your financial goals.💚 PS: Not only are you saving peacefully for your rent. You are also EARNING INTEREST OF 10%

If you need help on getting started pls drop a message

#moneyafricacommunity #financialliteracy #financialgoals #savings #investments #ladda

Explainer: Ghana’s Debt Crisis
Ghana has announced that investors in its domestic bonds will suffer coupon losses. This is the consequence of the government’s plan to restructure its debt to restore stability to its finances and the economy with the help of the International Monetary Fund (IMF). The IMF bails out countries who are in trouble and Ghana is a frequent customer.

Create festival budget:

First thing first, make a list of the things you will need to get during the festive season. This could range from food, decorations and gifts you plan to give family and friends.

Rapper, record executive and hip hop's first billionaire, Shawn Corey Carter (aka Jay-Z), turns 53 today. Here are a few business lessons we can learn from hip hop’s first billionaire.

What is the Russia-Ukraine crisis?
Shortly after the global economy started to pick up from the losses caused by Covid-19, Russia invaded Ukraine, causing even more tension to the global economy.

CBN Obtains Court Order to Freeze Fintechs' Bank Accounts Yesterday, news broke out that a Nigerian Federal High Court had given permission to CBN to freeze the Nigerian bank accounts of Risevest, Bamboo, Chaka and Trove for 6 months.

In today’s post, we are going to be discussing an incident involving one of the world’s most recognised figures—Cristiano Ronaldo. On Monday,  June 14, Ronaldo was speaking at a press conference ahead of Portugal's game against Hungary when two bottles of Coke were placed on his table in front of him.

Today we are looking at Kenya’s Central Bank Rate.

On May 27, 2021, the Central Bank of Kenya (CBK) announced that it would be keeping its interest rates—or Central Bank Rate (CBR)—at 7%. First, we need to discuss monetary policy.

Monetary policy consists of decisions and actions taken by the central bank to ensure that the supply of money in the economy is consistent with growth and price objectives set by the government.

Hi guys, let’s discuss a little on cryptocurrency.

Last Thursday,  the Basel Committee on Banking Supervision (BCBS) announced capital requirements for banks who chose to hold Bitcoin and other cryptocurrencies. The Basel Committee on Banking Supervision (BCBS) is an international committee formed to develop standards for banking regulation. The committee is widely considered to be the world’s most influential banking regulator.

The last few days have been buzzing in the financial market.

Gamestop. AMC. Short squeeze.

Those words have trended on social media in the last few days. Here’s what's been going down.

THREAD Gamestock, a video retailer, has had its share price go sky high in the last few days.

Why is this so?

There has been a tug of war between two parties.

Large companies known as hedge funds versus retail investors led by wallstreetbets, a group on Reddit.

Living Without Mortgage

Time for a THREAD The conversation on Naija Twitter around housing and mortgage caught our attention.

The obvious conclusions are that home ownership in urban centres is low and mortgage-affordability is weak.

Time for a THREAD 1. Blue Chip Stocks

Blue chip stocks are stocks of large and well-recognised companies with a long history of sound financial performance.

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– Create financial goals for 2021
– Allocate your income properly with the budget planner
– Learn about personal finance and investment

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Good morning

And welcome to this week's edition of 4 Customs Street

Here, we take a look at key events that took place on the Nigeria Stock Market last week

THREAD Last week was a red one on the Nigerian Stock Exchange as the All-Share Index declined by 0.42%.

For people residing outside Nigeria, the National Youth Service Corps (NYSC) is a one-year program during which graduates are posted to work either for a government or a private establishment.

The program takes place after university graduation.

Here is our response

THREAD Dear Toyin,

First of all, think of your post-NYSC plans.

Are you looking to further your studies? 

Are you applying for a job or starting a business?

THREAD Nestle Nigeria is a food company behind popular brands such as:

Maggi

Cerelac

Golden Morn

Milo

And Chocomilo.