Everyday Money Matters premiered on Lagos Talk 91.3 FM this morning with Ugodre and Tunji Andrews. The show revolves around how to manage personal finances in a practical, down-to-earth manner. The presenters promised that as much as possible, the analysis will be in the simplest form as most people require information on how to deal with ‘nutty financial issues’.
The show says it has 3 portions, the guest segment, the interactive segment and problem-solving segment. The premier edition dealt with how to make money especially with the current economic crisis. The current array of Ponzi schemes around that promise quick returns with little or no risk pose confusion to people who want to earn money but are not so sure of the schemes.
Tunji explained the cycle of the schemes and why the schemes are bound to fail no matter how long they last. Ugodre explained why the schemes, despite the risks, continue to flood the schemes. He said that most Nigerians compare the schemes to gambling and focus on the possible gains.
Explaining the moral conundrum around the schemes, Tunji reminded listeners that the earnings of any ‘winner’ are actually losses of other losers or ‘greater fool’, as the schemes do not actually do anything business-like with it. Ugodre pointed out that the allure is mostly due to the low returns that usually accompany regulated investments. However, the bottom line is that such schemes are actually too-good-to-be true and lead to jail.
The show also dealt with treasury bills with Ugodre explaining what they were and the different kinds of bills namely 91-, 182- and 364-day bills, with the government paying the interest upfront at the point of purchasing the bills. Additional benefits of treasury bills are the safety of the whole process and the fact that cash invested can be quickly withdrawn whenever needed.
In the telephone segment, callers talked about the dangers of the schemes and how best to source funds for entrepreneurs. The show airs every Wednesday morning.
You can listen to the podcast here Podcast: Premier Edition of Everyday Money Matters On Lagos Talks 91.3