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Nigeria’s External Reserves 2010

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Month External Reserves in 2010 (US$’ Million)
Jan                   42,075.67
Feb                   41,410.10
Mar                   40,667.03
Apr                   40,322.01
May                   38,815.79
Jun                   37,468.44
Jul                   37,155.19
Aug                   36,769.65
Sep                   34,589.01
Oct                   33,597.02
Nov                   33,059.30
Dec                   32,339.25

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Business News

Oando loses Chief Legal Officer

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Oando loses Chief Legal Officer

Chief Legal Officer of Oando Plc, Ngozi J Okonkwo is dead.

Adewale Tinubu, Group Chief Executive Officer of Oando Plc announced this via a tweet.

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Until her death, she was the Chief Legal Officer of Oando Plc, having joined the company as Head, Legal Services of the company in 2009.

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According to a tweet from one of her nephews, she battled cancer for a while, recovered before having a relapse during the recent COVID-19 crisis.

READ ALSO: NSE, SEC train capital market operators on legal and regulatory requirements for the derivatives market

Before joining Oando, she worked as Junior Counsel  with F.O Akinrele & Co., and also with KPMG Professional Services (previously known as Arthur Andersen) as Manager in the Tax, Regulatory and People Services unit and Head of indirect tax services.

READ ALSO: Common legal and general mistakes made by new businesses (Part 1)

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She obtained LLB (Hons) from University of Nigeria, Nsukka in 1997 and BL from the Nigerian Law School, Lagos in 1999. She was a member of the Nigerian Bar Association, honorary fellow of the Association of Fellows and Legal scholars of the centre for International Legal Studies, Austria, Associate Member of the Chartered Institute of Arbitrators, United Kingdom and Associate Member of the Chartered Institute of Taxation, Nigeria.

Patricia

 

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Everything has changed, and InvestNow.ng is here for you!

We at InvestNow.ng consistently work around the clock to ensure that you have a seamless experience while using our investment platform.

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InvestNow.ng

It has been an extraordinary year with the COVID-19 pandemic changing the way we live and work generally. At this point, it is difficult to remember how we lived our lives before the Coronavirus kept us contained at home for months. From remote working to online grocery shopping to virtual social interactions, it has truly been an interesting journey for us all.

The COVID-19 outbreak has also given rise to new, sophisticated, and flexible technological opportunities for digital transactions, and we at InvestNow.ng consistently work around the clock to ensure that you have a seamless experience while using our investment platform.

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Speaking on investing, taking a strategic position for the right time, and identifying investment options to take advantage of during this period is vital for your financial wellbeing. With InvestNow.ng, you can access high-quality financial information, market news, and investment views here to help you make informed financial decisions with ease and from the comfort of your home.

Also, funding your account on InvestNow.ng is easier than ever before. Simply follow these steps:

  1. Log in to your account.
  2. Click Fund Account
  3. Click activate recurrent payment
  4. Set up and click pay now

Now, do not forget to put your investment on autopilot by setting up the ‘Recurrent Funding’ feature on your account. This allows you to set up an amount that should go to your investments daily, weekly, or even monthly. By automating your investments, you can focus on other things while your portfolio grows steadily.

Are you new on InvestNow.ng? Feel free to download the InvestNow App on your iOS or Android devices.

We are closer to you than ever before, simply contact us via the following channels listed below for financial advisory, account opening, product inquiries, feedback, and complaints.

  • Facebook : @United Capital Plc
  • Twitter: @UnitedCap
  • Instagram @UnitedCapitalplc
  • Linkedin : @United Capital Plc
  • Call: 07000Invest(07000468378)
  • Whatsapp : +2348168282396
  • Website : investnow.ng , www.unitedcapitalplcgroup.com

InvestNow.ng is a product powered by United Capital Plc, a leading financial services group in Africa, focused on leveraging technology to empower businesses, individuals and governments with excellent financial services in Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, and Consumer finance, while contributing to economic growth and prosperity across Africa by supporting financial inclusion.


EDITOR’S NOTE: This is a sponsored content.

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KIAKIA Peer-to-Peer lending investment app (Review)

The Kiakia peer-to-peer app is a platform designed to allow users to earn higher returns on their idle funds. It definitely works differently from the usual bank process of fixing a deposit.

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Getting good returns on idle cash is not always as easy as it sounds. Most would-be investors often have to grapple with the fact that they tie their money down for a period but do not get impressive returns. Even where financial institutions charge lenders high-interest rates, what the saver gets at the end of the day is far from it.

But what if there was a solution? A platform, that offers you the opportunity to choose businesses to invest your funds and also choose when to cash out returns?

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Awesome, right?

That is what Kiakia peer-to-peer lending investment does.

How it works

The Kiakia peer-to-peer app is a platform designed to allow users to earn higher returns on their idle funds. It definitely works differently from the usual bank process of fixing a deposit. With Kiakia’s app, ordinary individuals over the age of 18 years who have legitimate income sources, can provide money to fund secured MSME loans booked via the KiaKia loan platform.

This, of course, allows them to earn returns monthly, quarterly, bi-annually or even annually while providing businesses with low-interest capital that can help them grow.

What more? Lenders/investor get to choose the industry or sector they want their funds to be applied to. There’s also the satisfaction of knowing that your little funds might be making all the difference for some business out there.

The business of choice can be located in any part of the country, and are carefully selected, verified and pre-approved by the Kiakia team.

The KiaKia story
Launched in 2016, the aim of the KiaKia peer-to-peer digital lending app was to give people better returns on their money and with less stress.

Initially, the lending/investment packages were fixed to accommodate lenders who had a million naira and above, but when users cried out that it was discriminatory, Kiakia reduced the limit to provide an all-inclusive service that accommodated everyone above 18 years with a legitimate source of income.

With as little as N50,000 now, a lender can be a part of those who contribute funds for the qualified borrower and still earn returns of the money. Packages are between N50, 000 and N10, 000,000 and can be done in multiples.

Talk about a flexible plan that fit income!
The app allows you to easily fund a loan using a valid debit card in your name, or even via bank transfer.
Multiple funding is also allowed so that a lender can fund as many loans as his income can afford. There is however an upper cap, stipulating a maximum single loan amount of N10, 000,000 and for a maximum tenure of 18 months.

The lender also gets to choose his investment structure, and this will determine how he is to be paid returns – Quarterly, Bi-annually or Annually.

Within 7 days of the maturation of the loan tenure, the lender needs not to make any request to withdraw the funds as it will be automatically deposited into the account number provided.

The Halal option
There is also the Halal feature which allows the Muslim faithful to participate in permissible earnings. Kiakia’s Halal investment option is structured in line with the Islamic principles governing non-interest funding. So when KiaKia gives funds to businesses under this arrangement, it is for the purpose of profit-sharing not payment of interests.

Kiakia’s Super Advanced Dashboard provides a seamless experience with a detailed and beautiful dashboard that enables lenders to monitor fund performance and progress.

Safeguarding of investment
Ever had to worry about a borrower paying back the loan? Not with Kiakia!
Kiakia takes the security of lenders funds very seriously, and only invest in loans and businesses that will benefit the lender/investors.

There is the safety fund feature, which basically provides a buffer for lenders. At KiaKia, part of the interest/profit shared goes to you, the investor/lender, while another part goes directly into the safety fund. As the repayments and portfolio grow, so does the safety fund, and this becomes the buffer to protect all investments. If a borrower misses any payment, the investor/lender is reimbursed from the safety fund.

Highly impressive!
Rates
Interest rates on the Kiakia app ranges from as low as 12% and as high as 40%, and spans 6 to 18 months tenure. For the interest/profit payout options – 3 months, 6 months, 12 months and 18 months, payments are credited automatically.

Recognitions
In 2019, KiaKia clinched the InFINCA (Inclusive Finance Conference and Awards, 2019 award for Best Peer-To-Peer Platform in Nigeria – a testament to its pioneering effort and sustained innovation.

The company also takes pride in the fact that in over 3 years of operations, no Individual or corporate body has lost money committed in trust to investments or lending.

Now, isn’t this is a record to be proud of?

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