Hey, folks, I'm good evening. Welcome to another money space. Of course with me calu Aja on the space, we're talking money, the economy and of course finance.
So welcome guys.
This week, we have a guest i'mn't seeing yet, but we're gonna talk around the investment options, focus on Nigeria. Bonnovie who can take it abroad as well. Hi's a very very season season investor. You guys to know who is once he comes online, mister Ebbe, Who's gonna talk talk us around what are the investment options? I have four questions for him, really, and I think I shared on the space. It's gonna be like a review of
the twenty twenty five investment climate. We're gonna look at the twenty twenty six investment climate, what are the opportunities out there and all that for investors. They want to talk around the tax of what that has been and how it affects investments. Where should we look at, where is exciting? Where should we go to? And then of course we're not ask him to give us this portfolio. I've tried to do two portfolios. If I'm a tight year old Nigerian, weish i invest if I'm a sixty
year old Nigerian wish that I invest. So are my four questions for him. He's not gonna spend a lot of time with us, but let's see if I get the best from him.
Mister.
Good day, sir, You're welcome. You want to kindly on mute, it doesn't reduce yourself, sir.
Okay, good evening, mister hal gooodibning everyone.
It's great to be here, thanks for all you do. My name is Thedjbo and I'm an investment professional, so I'll be happy to share my experience on how we can better optimize our income as well as nick good use of our savings, so for at least an insteady and they can advantage of investment opportunity. So it's always great to be here and happy to also answer your questions. Thank you so much.
Thank you for being here, sir. Let's just get straight to it right. Let's do a review of twenty twenty five. I saw the stock marketed very very well. What if fixed income? What a bitcoin? Just give us an overview of tw twenty five if you cancer.
Okay, yes, I would say that twenty twenty five was really an interesting year. Across different asset classes. So if I look at it, and if I look at even from we start from the equities market, say for the market to return about fifty one per cent to one point one ninety twenty twenty five, which means that for those that you know, we have called the ETF petty that tracks the top thirty stocks that come for over seventy t eighty percent of market activity liquidity they like.
So if you have invested there have been a passive investor minimum, you are also gained close about fifty percent. Where you have inflation, whether it's the old mental newmentor that's fifteen twenty percent, and where you look at this sector that actually performed well. So there's almost a trend
that is establishing. For those sectors that were impacted by ETHETS twenty twenty form that had negative shallers from that recorded losses, those stuff delivered over one hundred percent, or Zuma good or resent delivered about one twenty nine point six percents. You see. The insurance sector on the back of the announcement of the recapitalization in twenty twenty five
delivered about sixty five percents. The industrial goods you look at the worst in men down face event delivered about sixty percent, and even banking, if you look at some of the top brands save for US Access Bank only we will one year Horizon almost delivered close to our sixty seventy percent. So it was really want to target like it's super god here for investors that were willing to to take the risk.
You know why.
We know that the the equities markets has his own risk. But what I always like, I always say, if you don't if you invest in what you understand, If so, if I don't need to tell you too much on how they make money, if you don't want to know the ratio the analysis, like what a bulper will say, invest in a business, there's no way you would. You will hardly get it wrong. And even when market is down, if you understand, if you are always if you are, if you are both higher when market is down, you
should be more excited to buy at a discount. I will say buy at probo price. Yeah, So it was that was really stressed. When we also look at the fixed income the first half of the year average you was yield from the shorter end of the cup too long was around eighteen twenty percent. You got to as high for traity bus assires twenty six percent last year for ramming the family market for one year, so you would see that even odd for a very conservative investor.
Also still enjoyed the youth because money market phones started as high as twenty four twenty three percent, maybe closed around eighteen percent platforms, so that is also really very positive for fixed income. We saw the MGM savings bond for some of the months was as igh last year as seventeen eighteen percent. For those that are doctoring, current is about thirteen for twelve to thirteen percent, so those are blocking will stick continue to enjoy that high rate
for the next two years or three years. We also saw that that's interesting. It was also a year of massive commercial papers. But I always put the cabinete that always look at the rating when you want accompanix issue for martial paper, state it like you are borrowing them money. So if you don't understand what you do, there's no point trying to give their new names. Try to reach
about it evenly. Don't rely on whether it's the investment house or the asset manager sending you the email asked questions. If you don't know that because you are the one carrying the risk. If there's any defaults, it's on you, So it's not on house because you are the one that elected to go for that cipy. So you have to and that's outrage even on a net basis return between twenty two and twenty five percent last last year, you say that overall the market was really very positive
for those that did not remain passive. I'm hopeful for some that maybe just leaving your money in savings, I can imagine we would have received will be about four percent fit deposits. If you don't have signatures amount of money, maybe abrade of pend for detail one banks. If you get ten percent, that would even be great, ten to fifteen percent if you don't have a billions. So there's a need which I know would also get into it is that you can't afford to be leaving ib firms
on the table. It's not you are not doing yourself any good by doing that. You must try based on your investment advertites objective you must look for at the news where you hand written as you are working, you're eight to five your business, let something also be working for you. That really very very key so overall, it's
really an interesting year. So what we saw that through the spaner around the wheel towards the end of the year was the tax reforms the cigity, which I know, like you mentioned, will think going to So that set of this market or the end of last of last year for band large investors still smile to the bank was a good December for those that took advantage in January or within the year. So it's it's really investment
really paid. Even if you look at crypto digital assets, it was also a fule here for the for digital assets. So overall, I would say that there's really no excuse for anyone to say that you've not made money. So what I would always say is don't speculate, because that's what if you speculate, don't chase stops where you see where you see that. It's when represent that you see everybody talking about it, that's when you're you may you may be the one within the bag.
So hold holding the bag means that everybody has bought and sold, and you have bought the high price.
Okay, you keep regretting checking what saying is reread you don't understand this market that it works bulltruck to the party. Look for the nest opportunity, all right, If you have to take the risk, let it be very small. Right.
And again just to go back to what you said, So in twenty five in Nigeria, if you had bought, if you are taking more risk, you got more money. But if you had done even the federal government that is mostly risk free issue a risk free you also made money. Because you are talking about twenty five percent years on t bills and all that kind of stuff. But the guys that didn't make money were the ones that just were passive and left their money in the
banks and didn't take need risk whatsoever. Is that what I if I could summarize that.
Yes, yes, yeah, that's that's well summarized.
Okay. Perfect.
So also last year I did last year the best performing asset to a silver then followed by gold. Then we have the foreign stock markets Poland one hundred percent, South Korea one hundred percent, the nineteer a few twenty percent. What about guys that diversified? Was that also something that Ninegerians could have done twenty five and it's something that we should look as part of our till now.
Yes, perfect, because when we talk about investments, it's we talked to receive it from a portfolio perspective. So you need to unlocate. So there was a time last year that was at people to buy the easy. So even if you have to be good DLD that tracks gold. There a new book Dangeria Exchange to that tracks go new gold. That still made that lead minimal fifty cents if I look at this minimum of twenty percent, if you're still in gold or the silver. So you always
need to craft a portfolio. Don't put like be used to the language of not putting all your eggs in one basket. It's not about just stops it. Don't You look at fixed in home, you look at alternative assets, look at high youth investments for the very young ones, the weather five percent, you look at crypto. So you need to have that portfolio because most times gold in the last two years don't very well. If we check their history, I don't think they've done that superb in history.
Maybe the last twenty thirty years when you check and return, so it's really spectacular. Yeah, that doesn't we don't know when that pulls back, when there will be a correction. But when you have your portfolio is ballance. Well you look at its overall return.
Gotcha, all right?
Find see Let's move to the next topic, which is going to be more less our twenty twenty six investment Outlook. What are we looking for now as an investor? So we have investors in Nigeria, what should we looking for?
Okay, firstly, we need to look at if we're going to do like a top bottom analysis. One, we know that we cross the There's been a lot of very hard reforms that we saw in the last two two years, which we feel that there's been a bit of stability going forward. So when you look at your analyze the CIBY and Business Survey, Credit Survey, the Confidence Index, it's pointing that the economy is stabilizing, which means that they
will continue to be more opportunity. So on those before I get to those assets, you look at the years. So we expect the projection that GDP about four percent. There's also expectation that would early oil production would at least continue to keep very high above the target of one point five million barrels. Inflation is expected to still be low and see a lot of whether we look at the new repass that we think that maybe from February,
generally februarytings. So based on the difference the methodology that has been used in calculating lists, which should still be within the maybe fourteen fourteen, fifteen percent and range and the frustrates and giving a look at the budgets almost treble trillion projet deficits, it means that which are already seen that the first half of the year interest rate will remain high. And what investors should be doing is take advantage similar trend for last year locking for long
term majorities. You see trade your bills at twenty two percent, you buy one if you have, if you can wait by want if you have. When you see as we progress following what you see FG savings bond moving to fifteen sixteen percent and almost seventeen lock locking at that rate for two years three years because once those ten percent eleven percent level, I don't advise to lock locking your money for two three years. That's you will miss out of opportunities. You miss out of opportunity.
No locking website is do you is it the federal side or the common private side I e CP is where what's the best way for to lock in and I know we're.
Going to talk.
Yeah, thank you very much. So the first one when we look at fixed thing and when you want to lock it, you look at formational paper. You hardly loong haated ones because whatever the issue would always reflects the correct interest rate environment. Try to build primary markets or whether it's secondary markets. They are there majorities from almost as it is to risks something there. So if I'm investing, I will be doing the races for this. For funds I know I'm in no need for one year and
take advantage of that. Above twenty percent rates, you also want to look at the egen savings bond to three years, invest in the longer one. Once interest rate is eyes and once is glue. Go to money market. Build your captor because money marketer will benefits. There's the years of taking your money, exit and entry for money market that funds when interested not attractive in some of these bonds that you cannot easily exist. Move to money market. Build
your capital when you see the opportunity. Move your money because there's return or mutual funds are not guaranteed and I would like to stay there. The new rule that the SEC released I think late last year that asset managers should begin to mark to market their mutual funds, even money market. So to break that down to simplify that is that if an investment outfit or asset manager bought bonds at ninety nine er before, they keep it at that night. Now, because they had the sell in
the funds, they always keep building it. There's no pressure. But now if we have a major shop in the system, it means that a bond that is at ninety prices where they'll be keeping the net asset value. They value that muture fund every day based on the instrument that is within it. So when the prices of those instruments goes down, it means that the return on that investment would also be impacted. And if we have it bad year, it may also impact significantly, so the stability that we
used to enjoy. I think they're giving our fames about two years to do that, which means that maybe about one and a half years to go to move from reporting it as held to maturity. So forget the terminology report that cost. Now they want them to be reporting it as based on market value.
So so would that means that if the if the company has bought the bonds years ago, when these bonds were even no issue at a lower coupon, and now interest rates have gone up, that company would just do well simply because of its holdings. Is that what it means?
Direct? Okay, course do well, But also the other way around. If there are some major instruments that you bought at very high price and market down, it's also impact on it. So over time I think it will be grand right not to send the major shop. But I always say it's important that you know that it's targets written based
on the professional the rule. Your phone gives you target return, but it's also a way to accommodate and viuild your capital easily and to take advantage of other forms of investments.
Question for you, sir, is it is it wise to buy this mutual phone at a lower enevy and then move on that mutual phone at a lower enavy to take advantage of that on capital appreciation that you think has not been capitaled. Is that a good strategy? Or you just buy the mutual phone just to end the returns? Do you treat them or you just hold and wait for the coupons?
What do you think?
So? Yeah, so I think that is to just buy moving around because you don't understand. You don't know when they will be reclassifying and they will be repricing, so that will turn to speculation. So it will just be good because they are through the return on those investments on a daily basis. So just by continue to accumulate portally for most money market motoraphon paidivid importally compound, continue
to build. But once you see that you're building it and is becoming significant, rather than putting those fonts in moutraphones, you can identifying the instrument directly. You see trade you used primary market, call your bank about your investment firm. So you want to go for the option one year, get your percent. You know that that it is what you see. That's what you get. You already know even with tax, which will get so that has been introduced for this year now on most of those short term
data instruments. But you know that there's no flamtation in your return and you can pretty big what you eat when you want to exceed. Thank you.
So that's fixed in come Nigerian. What about fixing come should we see this for the text thing or what about fixing come for it is then opportunition there for Nigerians.
Yes, so I think that therefore, especially for those that have made your phones a few the opportunities. You know, when the airth that we expect that interest rates to come down, which means that the prices of those instruments who work doesn't understand there so which is its positive? You lock it you're luck in now or you invest. Let me use it term knowledge is lucky and yeah, so you invest now when the rates looks when prices
are low and youth looks high. But as the FED whether it's FED or the UK cyby and the UK bank is also cut in rates, we begin to see the prices of those instruments will be going on and we also expect that there will be especially you look at the US that will be a bit of expansionary policy this year to ensure that to support groups, which means that there will be more money supply to buy
into those instruments. And as a result, the as they are buying into those instruments, the prices of those instruments who begin to go up. With your benefit from uh look at the foreign even mortgages. You this for those that can take advantage now because because rates are high, the demand is low. So it's those that are able to lock in ahead of when we begin to see when mortgage rates come them become more attractive. And that you know, it's the market of demander supply, which the
market is more efficient. So if you look now, we will begin to also benefit. You also benefit from from.
The Okay, let me ask you a question that we always get from our Nigerians. Right, So I live in n and Canada, live in America, live in the u UK. I want to borrow carry trade. I want to borrow those currencies in their fort in that currency, pay at the lower interest rate, bring it to Nigeria by a fixed in combination. That's going to pay me twenty percent.
Do you think in twenty twenty six that trade still happens because you can borrow like cert in the US now for three to six percent, and you are any almost twenty percent. Is that's still is not going to be a trade in Nigeria going for twenty twenty six.
So I think it will still be possible in twenty twenty six, but as we approach election period, you may need to reduce your exposure on the carry trade.
That's Nigeria Nigerian election.
Yes, you know already prepared to twenty twenty seven. Again, when you know that, a lot of our certainties will say beforeign investors trying to pull out, so there may be a bit of pressure on the effects. So yeah, so that's that is really very important that we need to take into consideration. But ban like we don't expect we can depreciation of the naira this year. Discipline, we still like to ensure that they sustained. That's that needle
were enjoyed for the last one year. So when you're able to get funds as thirty four percent broader and you converted to nyra, are you able to get twenty twenty one percent here? I think that's that is fine. If if you're also able to hedge, able to protect your them, we say a bit of premium may also better. But having those positions, I think this year will still work out. But if within your portfolio, don't let it
be that all your investment is worth you're combating. Still know that you have those foreign currency position too, so that on in net business at times it may reduce the presure if we see if whatever the unexpected apples, So you won't be to post.
Gotcha. Okay, So I think we've talked about fixed income. Have you have you talked about equities or should we go to commodities now for this six.
Now, okay, let me speak about I think equities is still going to be very It's still going to be very interesting this year. Where I would look at it from different sector also with you would you would see that there were a bit of recapitalization. That's when look at the bank recapitalization and so far this year, the banks have not enjoyed any major already this year. So I think that there will still be upside when we begin to see their results because don't have the interest
it remain very high. If new long term fooding that if been able to get that would want to be very positive. The economy stabilizing means that they may be
able to give more lending. And if we gets this erea of credits calling rights that they want to link to N I M into your path and give you a rating, that is going to be a major game changer because within with your bb N I M you can see all the areas where you have and you can see your credit rating, and that will send a strong signal to even serial borrowers defaults rather that don't payer, So that would enable give confidence to the bounds to
lend more so, which expect then the banking space, I know, the pharmaceutical space, the packs benefits. So there's been major rally and maybe most investors that mist that you will for the pullback and position as they see that the result because some of the tax exemption of VAD input VID some of their asset classes based on the inputs that they use that they are being exempted. You know, they call the classified from as it's gone that essential, so that would be more money for them, which were
already seen. Namet Mea and Baker were fits in. Most of them have moved, but we as markets we do there will always be a time for a pullback, so that's will continue to be an attractive sector. Insurance sector, the recapitalization which lapsed this year, the ob bands. There's not a recommendation, but you can do your additional due diligence.
Look at the likes of Ico Manzadmuture Benefits, conner Stone, those talk top five men that's looks at them, they should be comfortably be able to meet up and raising a chant means that even if you don't expand immediately the income, you'll hand on equity capital because you may not pay immediately as dividend and it's not that it's not fixed income or debt capital that you have to pay interest on. Would also be a major post the
active the telecommunications sector. He will continue to sustain data his life. Like we'll say in Nigeria, people even those that are not maybe apart from food that after food, everybody wants to get data. So they will continue to hand that space. Who continue to also do well the oil and gas space with oil production sustaining that level, which will also expect that things will continue excuse me, and we continue to also do also do very well, which are the sec Yeah.
So what let's not go to commodities like just because of how well they did in twenty twenty five. The gold, the silver, the oil, is that still something we should look out for in twenty twenty six already already if you look at the markets now, they've called the tariffs because the issue in Japan, Japan is blowing up, their eels are going on, people are running to safety, and
so gold is still looking very very strong. Bitcoin is falling as I speak, So is that still an investment out there in twent twenty six for Nigerians?
Okay? So for me, I would say, because I have looked at one principle that always if I've missed a train. That means when you see somethings that are most significantly, then jumping on it is always in fifty fifty. It's always difficult to what's advice on those the apal decommodity gold silver that have moved up significant? Is that invest maybe small amounts or investment pulled back? Okay, don't don't jump on him, like I would say, don't jump on
him moving train. The opportunity still exists. But when we look at the last two years that return, at one point there will be a correction. That is market may not be this yet, but at one point there will be a major correction in that market. So you have to and if you have made money, don't don't be too greedy. Take some profit. I'm not saying sell or. That's so that paper profit is different from booking the main profit. So I think that they will with a
lot of certainty political certainty. Yeah, there will be opportunities, but I would want people to will be too aggressive about it in case it has a major correction before the end of the Yeah.
Yeah.
So what I did only if I could do what I did this year, was I could a new portfolio and I called it my my Trump portfolio. And when I'm just doing is that internet market goes down, I buy the market does five percent pure treading accounts.
I'm going to wear a.
Lot of taxes, but I'm trying to do an experiment to see if just buying and selling on the news alone, by twenty twenty seven, if I'm going to make a profit. I know it's going to be a lot of taxes short term, but I'm just want to see what would be because there's just so much on stitas that if you buy, sell, buy, sell, what do you think.
I think that's very smart because we would say even this week, you would see that that there's always that opportunity for those that are able to follow the market. We saw for Trump announced that said I was going to the Tarry Place star ebon the europe countries, and
within twenty four for tit, I was reversing that. So we always see that and I think that apart from the concert around pacts, if you see that you're getting a gains of about five percents and maybe able to do ten rounds even this year alone, that's almost fifty percents by the time you also take So I think that it's also really revery smart. One. What one can also just look at again is what are these sectors
that the Trump administration would also favor. We know of those that within the producing the producing war ammunitions, we would also do well this ye. So at the end this space with AI, all these things will be condoning energy work well this year. So these are some of
the areas that investors can look at. And I tell people that even if you don't want to take any risk, I try to analyze well called vio hod that charts the top five hundred company less than five hundred in the last five years that's done an average of fifteen percents. So say for twenty twenty two, dours down had the
return almost doubled. So for those that maybe you do on a monthly basis, which helps you to be disciplined, whether it's five dollars monthly, you want to be putting their ten dollar monthly hundred dollar monthly, you would have up to average of twenty percents if you are consistent with that. And if you check a fifty year record, after fifty years that I try to look at not more than ten years that the stock market and the overall stock markets have been done. Years that precede those
as are always very massive. So if you don't want to be pickings or be selective about stops, look at itis. There's KIKIQ that tracks the top ondred Yell that tracks the top five hundred, especially for Nigerian. So if I'm Nigerian and I'm in Nigerian rather and I'm ending fifteen percent return dollar return factoring in any NIRAD depreciation every year is higher than eurobons is higher than and whatever
I will get in any dollar placements, that's off. And you see it's it's not always go for vio to lose five percent. It means the lives of those stop stuff that have lost about twenty percent in need. Yeah, so that's another strategy that's very conservative because that don't have time can begin to also have dubs to build portfolio. They PAYDV, then you continue to road add that DV. Then to your investments.
Yeah, it's actually the v O that I'm actually doing that strategy on the Bay and Cells. I just picked the v O I bought last week because of the Trump thing with Greenland.
It fell. I bought this Monday.
Again, I'm already seen that it's going to fall because the news on the Canadian tariffs and Japan will buy again. When Trump makes peace, will sell again. They want to, like you said, defense where here and they want to bomb Iran again. So in defense rate on Tomashawks F testy fives, that's going to go up. We're also seeing that the US wants to invest in strategic minerals. They invested in what they call in MP anything to do
with rare. They're also investing. So again, like you said, so it's just to look at where the where the money is going to and then to invest there. Okay, So so again just just to reset the room, we're talking to mister Iridj about the the investment of twenty six will look at twenty twenty four stocks, bonds, commodities.
We have four topics we've done too. Once we're done, if we want to speak, if I just request to speak, we're going to just do two more topics now and then you guys can come and ask you a question. It's going to be here till about and it has less than an hour to go, so he's not going to be here for a long time. So let's go to the next topic, which is not going to be Niger has passed this new tax reform Act. What does this tax reform change how investors should look at the market?
Is stocks, fixed income, commodities, real estate? Does it change anything? And if it does, what should we as investors be looking at them?
Okay, thank you very much. So tax planning and record keeping will now be very important. And record keeping will now be very important. So the first thing when we look at the capital game paths capital game packs which applies to equity investors or does that buying has set? So we got for investment who look at that investor? It used to be ten percent flat before this year based on your alliance with your personal incompact rates and
it's capped at twenty five percent. So you will need to look keep your records for the threashold that has been set. We will know that if the total investments that you are trading. So the way it's going to be done.
Is that.
Let's say you buy ten million what of kitibank you said it it will keep accumulating, So it's not until you buy one fifty The treashow is one fifty million. So I buy ten million today, I say ten million. That's twenty million. I buy a million tomorrow.
I said.
That's so if you eat that treashold, you would whatever income you have made, you would pay PA based on your personal incompact rates, which is mans or if the gains that you'll be making you you will make from that investment. So even if the total ton over don't is fifteen million, but I made ten million, I will pay that on that ten million.
Okay, So what mister again, just to make this point, just to turn we get this point because we've been going back and forth on this point. So you're saying that if I just sell ten million NRA wards of a stock ten million water of a stock, but I made a profit on that tien water of stock, I made eleven millionaire profit. You are saying that the capital against tax would apply to me.
Correct, Because I had to confound this directly from the chairman. So when they were a lot of back and forth too, so the.
Wow, yes, so can someone treat that? Can someone just tweet that?
Please? Just can someone just tweet that up?
Because last week we have as iron we were going back comportant this so if not, can just tweat that.
Just so ware were clear.
It's not just the one fifty it is the profit or it's all not and okay.
It rue but then had but once you it's one of if you so when you look at the conditions, so when you meet one of those conditions, it means
that you would be liable to pay THATA. So if the total conover is one fifty million and my profit is five million, of our reasons, I will pay tax on that five million, because i've it's one of the conditions, howiver, even if my total the second one, which is even if the total proceed is ten million and my profit is above ten million, that means amede one hundred percent, right, I have to you would pay tax on that ten million. Gotcha, yes,
so you'll pay that on that ten minion. But what you can also do some of the plannings that you can see is in your portfolio. For instance, if you're carrying some stocks that are that you are making a loss. So rather than going to pay ten million, I may sell and crystallize some of those losses to reduce the percentage of tax that I will pay, so you don't keep just holding and selling those profits. So there's a
need to plan it. So you'll do your If you crystallized loss of two million, what's the AAC savings that you will get from your profit? So you need to do that calculation and most times need to eat. It may be better for you to just crystallize the loss and reduce the amount of tax that you're paying. So
it's really going to be very interesting time. But if you know you will not Based on the statistics, it's expected that for the retail investor for almost eighty percent of them may not or of the retail investors rather will not. It's that particular treashold. So it's only those that know that their total came over will get there that the start the planning and also keep your records.
You know how that is done in ninerior. They don't have the perfect record because administration is also one thing that is on top of the discussion. They will just they can just write you that Sam mister Taloo with discover that you yeah, your taxability is one hundred million. Mister Hallou say please guys, calm down, let me show you my record. It is not one hundred it is five. But if you do have records, you cannot prove. You can't. You must be able to prove. So if you're selling,
be keeping your records. Are for your statements promptly, especially for them knows knows that know that they will meet that treasure. So it's important that you're keeping your your records yourself. And if you have a major investor, you may even want to engage for a small amount and engage the tax on sometimes so that you're already planning
some of these things and you're seeing the implications. So like we're always seeing the developed markets, US market, UK market that December, you see a lot of transactions going on because their tax planning is going on. People are trying to see what to sell. We'll begin to see that from this year to in nine career that's not just people selling to take profit, but people selling to make bad to plan their tacks.
That's called tax loss harvesting, right.
Yes, that's avest correct. So you would also also see that it looks.
Very interesting.
I think it's it brings a lot of complexity, not just just a bit of stickational to nigen market where you see folks, like you said, selling positions that are at a loss simply because they have made a profit and they want to post for that year in a balanced incomposition.
Not to avoid taxes. Very very interesting, very interesting.
So, but just to go more specific, there's also something a lot that says if I buy collective schemes, it is exempt, right, But if so, that means that the mutual funds, the ETFs have solutely quote unquote advantage over individual stories.
Is that what I'm reading as well?
No, so you would see that for the emotional fund of collecting investment schemes, the portfilo manager already paid those taxes, so it will impact on the net return that you'll be getting. You don't because as a portfolio manager, I portflium man voice as I buy trade abuse, government will not exempt that trade abuse from withold in tax. So I would have paid it with all intacts on the able on that font. So they know why they're doing that is to avoid double tax because you have already
paid it indirectly. I've given you one million when you were using you to bitter Abius. As part of this thing, one hundred people have come together put one million. When they are buying strike Ubius. They already paid ten percent with those impax and all the applicable taxes would have been applied before the distributes, so the tax will still
appet to you indirectly. But the reason for that why government is putting in that way is that the only double taxes because if they're taxing you again after you have paid tax indirectly, because what comes to you is the nets yield, the net return at the end of the day, before any distribution, you would you would even see that management fee of the Portfrolio manager would have been deducted. Of course, in all those fees are so the adopted before retons have judging paid.
So it's it's just to avoid that double tax.
Where a company and ETF has bought his share paid with oldin taxes, then you then buy that with that ETF. You shouldn't pay the tax twice. That's what it's for about, right, Yes you know?
Yes, For instance, that tracks the top ten stocks when they are buying they're paying bad paying all the different access as TRANSA is already so they are paid it.
Okay, it is the X that comes back to what about the person where he talks about if I make income from foreign foreign investments, so rents, dividends, coupons that and I bring them back to Nigeria through approved channels.
I also don't pay tax.
So I'm thinking if I buy b n D, which is an ETF that tracks US Treasury bills US bond, So I buy the b n D from Nigeria and they pay me a dividend in Nigeria from dollars. It's the time acting that this dibidated I get from America is not going to be taxed because it's coming back to Nigeria through a proof channels.
Is that what you're saying, Yes, that's that's what you're saying. That this is just like a concession to encourage more effects, so that they want to see what that would help bring.
In more more effects.
Desperation is still not clear. So I buy through let's say Pluto's new by after invest bambook that I'm paying to deferm how we they also know because that is not coming through any official channel. So I feel that what those that would will affect more is those that invest on platforms in the ASPERA. So I think focus is the asperants that they don't actually invest from year
from Nigeria. Those ones is you're when you have bringing your funds, reportrating them, you're coming through to Sibian commentary, the bags, the original and the the official channel. That is when you can be tax example, it wants if I put a combine my nana two dollars investing stops through it in Nigerian platform, I've already even puts a bit of pressure on EFEX already, so there will be no tax advantage that we're enjoying because I got the
dollar from Nigeria. That's because the platforms we get those who serves those dollars from Nigeria and paid the counterparty in the US.
All right, and just to be clear, just be clear, the capital against taxes is animal right, So does it reset every year? If I do want fifty this year, next day I go back to zero and I start again, or it's accumulative. Just to be clear, No, it's every year every year.
What has been what has been intro used is that even the prices will resets every year. The clarity that will the prices will reset every year, right because we will. If you bought GTI Bank at seventy and by December it is ninety. When when you moved to the following year and it's nine hundred, you will be charged based on seventy that you bought it. It will be the ninety of that. So every end of the year prices of stocks will be very important because that's going to
be the tread the reference points. But that would be the reference point for the pacsman.
So just just oncl So you're saying that, of course the beginning price, the ending prices, that means the capital gain. That's what you're saying, right the beginning Yes, okay, yes, okay, perfect, all right, So so that doesn't two two that I saw. So the dollars coming in is taxing exemptive coming in through approved channels. You don't pay tax on collective schemes and all that. What else had did I see in terms of investment there that I want to bring up?
I think that's reallyant. So's just quickly, sir, do your portfolio right your your your portfolio for in Nigerian that.
Is basically earning.
Thirty year old Nigerian and a sixty year old Nigerian based on all what you've said, based on the tax latter has been passed. You know, the thirty old Nigerian wants to invest thirty yels, is not married. He's making money five not a year. What would you how would have you did you build out that portfolio?
Sir?
And again guys, after this we're going to take your question. So if you ever, if you want to speak, those requests to speak after this question, will just take me to your questions and so go ahead, sir.
Okay, thanks, So model in the portfolio for thirty years, so I will call the one for thirty yearl like a groups portfolio as sixted depend dependability portfolio, which because at that age you're just aftering. So starting with the one, which is the aggressive we are growth portfolio, petty, I
would advise that you put sixty percent in equities eputies. Yes, as sixty percent, but within that equities also have its should be around thirty to forty percent to normalize the impact of latility stock market vulatility on your portfolio and ensure that you understand what you are buying. If you are going to road stocks should not be more than thirty percent. At most roads stocks are they have always veriable at type, but they also deliver high return over
the long term if business grow. And for fixed income, I would say you can which will capture boots excuse me, both bonds, redibiles. You can't look at twenty percent percent fixed income? Yeah, talking periods. When you see that I interestrate. I love what some people did last year bonds were traded as I have twenty two percent. They locked in at that twenty two So when it bonds yeld games about.
Sixteen they went they wanted the money.
Okay, yep, the money. Second, you also look at money markets cash because you need money market, Yes, because you need the emergency phone is for liquidity about ten percent, so they will not be sorry.
This twenty perent is for bonds. The twenty percent earlier was for bonds.
Is for ponds, Yes, fixed income or bonds. Yeah, okay, for bonds. For the money markets lash cash, which be eight percents. Emergency phones so that you won't be forced to liquidate some of the investments if they are not in the money. Then alternity would also be important. We've spoken about crypto. Maybe you about five percent, and you can look at the traditional ones if you're just by the top to top three most times when you look for those that the traditional wants, you mean, you will
hardly miss it when they're down. Just buy and keep and monitor your portfolio reads. You look at god the alternity, look at gold silver. If you have another five percent in those alternity, you just pick them every year. So even they're the correction, you're still buying because you are Let's assume that you're setting aside ONNRED every month for tamings.
You know how you are located like that, then that would give you at least when you look at the return, you should have an average you have authentically decent every year. But coming to the one for age sixty, which would be like the income preservation portfolio, twenty percent should be in stocks, which would be just high dividend paying stocks and blue chips. No time to take risks at that level. Fifty percent in high youth bonds and try your bills.
You know those instruments. Those bonds are not easily tread leable. You're only investing for the return and wait for maturity. So you have about fifty percent, then you're getting your open as when deal and for the money market you need more cash at that point, So twenty five percent should be for that start builting and you're monthly to odder. Yeah, you also need to just set aside that and for
therternity if you have to do it. The good the real estate and stuff may no more than five percents, so that you give you an average about twenty percent in a year. So that if you do that, I think that you would, you would, you would, you would. The return on your investmental or will be stable. So I would say that inflation, which has is potential to
be going to stick going double digits. So you know, standard savings account we get a little five percent means you are losing almost nearly ten percent of your purchasing power, not if you're not investing. So cash is trash. So in twenty you must you must not be you must not don't try to keep cash no.
Cash, Yes, okay, fantastic. So I just shared this thirty of portfolio. I'm sharing the fifty populos, so twenty percent stock, percent bonds, thirty percent cash or money market near cart and the alternative is going to be five fifty eighty. Okay, I got it here, so yeah, so thanks for that. So sir, let me allow for folks from the problem waiting a long time. We've got about an hour or so left to you. Let let's get.
Is it her fortune dobatedby your first go ahead? Sir?
Yeah, Colora good ego, mister A, did you thank you for this space?
Right?
I'm quite sure, glad, And I want to keep to the officer and the young folks investments. Yeah, so I've been doing this investment, you know, right, I've doing the whole investment stuff.
And I wanted to please explain.
Something about Pennis stalks because we understand this liking risky world, high risk, high world kind of investments.
Right, I'm senserable.
Given't differense portfolios for age grabs and differences. You really say anything about penny stocks. I understandies full time. It could also yield quite some return, right. And also I looked into the real estate Harry real estate investments for I do know of others I see realestate investments for investments funds need risk stroke reward, right, I don't see there's high level risk reward because yes, it's in Nigeria.
Real estate is kind of the big thing now. Okay, so if it's a kind of it's a it's a post publive.
But if you go.
Into there's something coming out for you.
But there is also what that could.
Mary percent of fifty percent of your capital if you venture into it. But that is not I'm just looking at the tennis stalks right, snow money how the markets treat this this stock and how.
It flits the money and all right penny stocks.
Yeah, so really very interesting because like this, yeah, but some of the fundamental and so where like in some of these spindice stops, those that are not even doing any to have done under the trends. So why but you must understand, I like what the world you use that Irish early world, it's this. We also saw that trend last year. Most of what happens there if you're unable to monitor or you don't have the right strategy
to get your fingers pomed. What advice is to allocate yes for some of those spend stops when you see them. Also try to go to their financials and even see whether they are the returns. You know, when a small company is starting, there's a lot of shops that they get that we call them group stocks. Compared to those that have stabilized. They having no cash flow, they can we stand pressure. Even those that are strong when periods when there are major shops in the economy, we see
what they go through. Compare when you're not relative to those that won't just for me up. So you need to stay a loocate this period. It looks like the technical guys that are really shine in ebom stock, that's when you check their results, are not doing anything to return one hundred percent. But at least from my own small experience, I've almost been in this market from close to twenty years. Markets would always reward furnamentors, so don't
get caught up. So watch your strategy can do. If you have made money from some of the penny stocks and you check their fundamentals and you're not sure what they're doing, take some of those profits and be investing it in strong stocks. To diversity. Yes, because the saving grace is that in Nigeria maximum losses ten percent. You know if you try any penny talking guess, you can lose on hundred percent in one day, So be careful. Have your location on DS where any saying improvements on
reds because of real estate. So he can that's you know, when I'm doing it, when I'm doing their location and turning to you. So even having five percents, it's not also not it's not a bad idea of having that in rates. So it's it's that's that's what I would say on that.
Thank you perfect, Thank you so much for that, sir. And let's hop on to Viva essence Viva, go ahead viav essence. All right, let's get to Stephen Steve Viva real quick. Yes, I can hear you now go ahead.
Right, good even sir, Thank you so much for the platform. And I actually want to tell you how do I really want to communicate you privately?
Please?
From regarding the investment I talked about I wrote you online.
Anyways, I me D.
I'll send you a DM. No worries. What's the question? Yeah, go for it.
No, that's what I'm saying. It just has to do with my investments.
I'm okay, I've listened a lot, a lot.
Okay, send me a DM, sen me a DM. Yeah you seve me a DM.
Yeah, all right, thank you very much. Thanks.
Yes, So we've got mister Stephen, Stephen, go ahead, h.
Believe in mister, my boy brought us bench funds and how folds school leverages, you know, and this is particularly for below fifty because just about fifty and only you know the infundt and so those below fifty basically have between from fort to you know, to play around this.
And here lies my question.
If we are young, and maybe it is the about the ten years to Colorking fifteen, who do you advise such folds too, you know, reach out to their pah and intentionally switch from from two.
To front one because by default you are in from two. If you're lesser fifty, would you advise that they switch to fund one, knowing that front one is a bit wait towards equity and given that they see I'll stay up the.
Tender to cooking futy you advise. Yeah, I love that.
I love that question.
Yeah, yes, I think that's very very interesting. So when you look at on from three based on their location, is that twenty more or twenty percent in equities apparent as stops? So I would say that yes, because even it's the when you look at the investments profile, there's still moderately conservative. So eighty percent fixed income twenty percent stop, so it's not really hiring. So and there's potential for
higher return if you are lower than fifty. So I would suggest that that for those that if you can switch in if you're still below fifty, you can switch and enjoy the high return in the market that help
you to compound. Yes, so I think that that's because when you the PFI is also a cacteria where they look at when they invest, you know some about the respects that we're talking because of their fund they will not even touch it, and they would invest more in stocks that are strong fundamentors and also deliver dividend signal and dividiend. There's a role if you don't pay dividend out of but then they three out of five years,
then they can invest in those stocks. So I think not a bad idea, that's very fantastic.
So just so that's a bit of active passive. You're you're doing active passive, but you're also been active in choosing the exact funds you want your phone to being not not a bad one.
Yeah, nice one. Let's gets a check weal, how are you doing?
Hey? I'm all right, you very much always Yeah, what you have what you do for us, you know Nigeriam, thank you Missia? Did you thank you for being here? First off, that was the time I dropped you a.
DM right because me and a group of my friends wanted to go straight when.
It comes to TVs, go straight to the market.
And I know Calo always repost your your post and you said it here one of the times you visited that if you have fifty m and above that you can go straight, and essentially it didn't but.
I didn't get a response. Please can you have.
Look at that?
Apologies, but I can hope that added to your question.
Now, okay, cool, So my question I just want to I just want to re ecod this so that the people at the back, like may will hear. I think it's it's a good news. So you said as I would listening to you, and kind of.
That the price, the CGT, the capital.
Get tax right, I think, Carlo correct me if I'm wrong. There was an amendment to it that the prizes will always reset every year January. So if someone bought a stock for let's say ten era and the stop now around to thirteen era in December, as long as you did not sell by January, it will reset to thirteen.
Era being your purchase price. Am I correct?
That means if you sell after January, you will only pay captain tax from what the prize was from January?
Please? Am I correct?
That's what I came up to it, mister? Is that a correct?
Can you can?
You?
Can you repeat that again?
He said, go ahead as makic with will shop so he gets you.
Okay, okay, this, this is this, this is it too.
If I got a stock in Jey in December and for ten era, and the stock ran to thirteen era.
Right in January, the price.
I bought that stop will reset according to the new law that affects adity to thirteen era. So if I sailed from January, let's say it turns to thirty five and era and I sell it in February, my capital game TAD will be measured from January, which was thirty bucks, to when it was thirty five when I sold.
Exact clear it?
Yes, that's each year. Each year.
The call you reset itto reset.
Because what where he's going to sign is not in America. He doesn't reset your basis. So if you bought a stock, this stock has a basis and as we be big in America, where if your father bought a stock twenty years ago and then your father passes away, then your base resets to the price at the date of him passing. So in Nigeria's case, it's actually good news that if it's resetting every year, we don't have that captal against tax on our backs every year. That's what I'm hearing, sir.
Yeah, so it's actually okay, that's that's correct. Perfect, Yes, then sorry on your p and question. But before I answer that, please there the question starts staying asked. I think I mixed it up. They found three, which is twenty percent our location, and they form two is about fifty five percent. So to me, adam, go.
Ahead, yes, great, yes, I know for one.
To stay lits more with it than twenty percent. Yes, so from two is about fifty five percent. Manage my exposure, so me for retirement from you below. I think that's really on the high sight, I will not take that bet that's individually. I'm very conservative because I'm also getting close to that. But I think that it's a fifty five percent. It is really a lot. If I would prefer to even invest in its myself, and on it on my performance or stuff to support whatever contribution I'm making.
So I think that's going to be my view on that.
But okay, just to follo upon Steven's point, if you're in Nigerian and you hear that equities in about the last three years I've done very very well. Visit base inflation. So if you bought bonds and you went in equities, you didn't beat inflation. If you bought equities, you beat inflation and you are retiring. I think it makes that's the point that if I'm exposed to equities, I have a better chance as in Nicerian. Yeah, so I think that's a very important point that that's I like this
question a lot. Okay, so let's get to Thristics Ta and my good friend Thristics Ty.
Sorry go ahead, sorry.
The last question for mister Oh sorry ahead, Yes, So to invest in the in the for hear me, just contact either your bank or your investment once you send them and send them your rates that.
You want to go. As you know, when you check the rates, there's well about the stop rate. You have to check that stop rate and look at through the you that you're comfortable with the last stop rate was around eighteen point three seven. For instance, we give you yield of both. Yes, so you can go directly contact your bank field inform, send them an email and you would they will confirmed to you after the hop show.
Thank you, gotcha. Let's get three sixty. So again just a quick one. So as in Nigerian, just to be clear in Nigerian. In Nigeria, can I do this directed bills only for foreigners? Just to clarify that if you don't mind.
So there are two types of bills. There's the primary market tragedy abiuse. There's the Homo body open market operation. That's Sapien issues directly only to bands and and foreign investors.
Okay.
For the primary marketing tragio is available is available to everyone. Okay, that has fifty million, whether you're aspora, your money, but you can invest in dollars. You have to convert your money into naira before you can invest.
Okay, I it was one that was only for foreigners. Okay, perfect, Let's do three sixty dipreniere hiding sir.
I'm good, mister Carl believed in to thank you. Just a quick question though I know I think I want to tag from what as a as a chief Rob was saying earlier about the prize of stock crystal.
Resetting every I think it's a really good one.
Very Nigeria.
Yeah. My question is now, given the fact that because we're just looking at.
To get the investment options for to indicate assist and me understanding that Nigerian stocks actually did very very well, you know in the last year and even early.
The c A, I have this question, like, if you are to be me right now and you are considering the Nigerian stock market and the currencies, giving the treads and all of that, which you think would be the best bit for me as.
An investor, maybe looking at nan stocks.
To invest on and comparing that the entire enterity of cryptocurrency is the best crypto a sense to actually invest Which do you think will give me better results or better use at the end of the year twenty twenty six.
That's just a person trying to get plenty of things stocks and cryptocurrency, right, Wow, is that what you're saying?
Yeah?
Generan stocks, gen steeds and records. What's so understand level? The first? Yeah, polatility the first. Also the cot that you are also investing in also differct. I would say that they like your stuff will give you more stable return for the cryptocurrency. It's it's only unpredictable right if anybody is trying to just gets it. If you're not looking at long terms, because one year is to shop to predict crypto have to look at long term for that.
So for me better on my understanding, I also have a bit to be of investment in crypto. So it's not that I'm totally but I would say that the Nigerian stock market will still deliver before this year, should deliver our use the words should not will better return because stablishing the economy, our efforts remain stable. When we begin to see more FPI is coming, prices were also mobile and we're also beginning to get more awareness amongst
retail investments that are creating activities in their market. So look at the combination of that and companies delivering more positive results, we should be able to deliver more than cryptocurrency at the end of the year.
So is that because of that cryptos are going down or because Nigerian stocks are going on up?
No, Because as that period for crypto can be unpredictable, you know that December. Now you might go up fifty percent middle of June, and by the end of December it's also it's down. It's so pretty a lot of factors. Yeah, so if we're looking long term, we know that bit to C Misty get to two hundred thousand dollars right with all the top investment banks also buying Itterial macle but using for trying to project crypto over twelve months, A lot of things always happen from if we chect.
History, gotcha, gotcha? Good, great, great, great questions. Let's get Ben Ben Hi. Mister ian has about fifteen minutes in with us, so let's get trying to get us focused on Dete Ben hiding Ben.
Then it works. Ready, let's go yeah yeah, yeah, yeah, yeah, yeah, go ahead please yeah.
To the guests, I just have two questions. The first question is.
More like in general, I want for people for people who.
Have, you know, some substancial level of liquidits and they're looking to invest, specifically in Nigeria, and they don't have the time, necessarily the times to start looking at balance sheets and the p and ls and moneying what's going on a n g X or going to bid for you know, what do they call it?
Fixed? All those fixed in goverment A securities? Would you what do you think about?
Basically, I'm saying, what do you think about mutual phones? You know ets?
You know as specially especially for.
People who don't necessarily have the time to study, you know what's going on in the market, and you know by those individuals stocks and bolds themselves.
Okay, yeah, thanks, and I think I like this question for them surely for those that just want me to do. Marketfs is our ittfs are that health best close and they also deliver fantastic returns. So when you check those that are invested in ITTF tatty that the NX last year minimum. If you invest in January, you should have closer at least forty percent. That's a decent market. Fifty
one for some maybe close to fifty percent. You know, depending on the navy that you came in and look at the US its seventy five hundred returns close about twenty two percent last year. It's done close to about seven or eight percent, So you would you would see that they are real opportunities. So you don't need to understand a lot about the market. I do. You would not also be going through the different major lactivities that you always see, you're always see the that you're always
seeing the you always see in the market. So that's really very very good. Areas you guys look at it bisector like I started looking at quantum and putting and my mind start investing directly in those talks said, okay, let me look that would track on them. So I need that befortful the managers because they would have used different criteria to classify and identified those ones they want
to be investing in. And the ever return has been really very good, it won't be as much as one or two of those stocks within so for good GLD for just that.
If you look at that, and you can just be sure that you're gonna someone is has done your.
Homework before coming up with those index because most times the deed perhaps the in this is different, in this is and and they've always been deliferent. If not, you will even most of those cities will there are not performing at all. Okay, all of our meture phones, what do they have meture phones? Yes, Mutra phone is also very very good. But as the volume of your investment begins to increase, you can you may need to get the bit of knowledge or maybe even get your motulo
manager that and you engage with and tells you how. Okay, let's look at tragibiles. Let's look at bonds with go to the market on your behob and get the bonds in your portfolio. Can use the costudy help you to help recompense it within for you. So next once you begin to be both for your start champions is always
very good. As low as one thousand, you build your investments and maybe you are getting to fifty million, getting too, then may begin to consider going directly than getting into the food.
Okay, all right, My question then just about what the real real quick, real real quick, because we have he's living about fifteen minutes and we have those guys, so real quick, go ahead, so real quick.
And that's the question I said, asked about the SEC.
What does you think about the recent CC changes to the requirements?
Will get or Britos Army markets and please I like to to pass. And I owed a lot of positions. So there are different unions that are spoken. Has spoken different organized also spoken to the man on the authority. So let need pass, thank you perfect Let's get let's get calum calum.
Please.
I know this is out of place for you. Please, can I keep you something about this?
No, hold on, don't just just get bitter so few than working because fifteen minutes and of course have been waiting. I'm so sorry.
He has to do with thet in Nigeria. Just clarification so that he really real, real quick. Okay, okay, mister.
In the US, when you want to buy ETF you consider that assess value decay, you consider actively and passively manage, and you also consider expense ratio. Does this apply in Nigeria?
Of course.
I don't.
Yeah, their size, of course yes.
But besides you can ask it's asking it because that expense ratioes and enevies and all that when we buy it the same Sometimes use.
That to compare that because the the percentage of the return the expense also varying across different at there's a cap by sec right that imagine one you can't charge. Yeah, so it's also good to confound that.
Yeah. I mean, if you won't invest in ATFS, look at the go to a big firm with low expense ratue. I just find the same thing. V O o qq it's the same thing they're buying. Look at the expense issue, make sure they are big, and then you are good to go. Let's get Peter, don't get a full and we get hit K.
Peter.
Go ahead, Peter, you're as kind of muffled. You're just kind of muffled your audio. Can you fix that real quick?
Go ahead?
Is it better?
Go ahead? Yes?
It's perfect now, okay, okay, So still on the e TF and.
Equity platform.
So I to ask mister IRG, so as as well, you have ten million are your focus is on this diversification as said, how can you allocate your resources?
Thank you.
On the diversification ETF And sorry I didn't get that, Peter.
What I'm asking Sorry, can't tell a game place Peter real quick.
I'm just asking, like, thanks, which one is more advantageous looking at the historical returnation?
Is data managed equity you F or et F?
Oh? I think I said you're missing top, Peter. You can have an equity e t F. E t F is the is the basket. You can put shares or bonds in that basket. So yeah, you're sort of asking that, you know, your questions kind of juggled up if you if you don't have the time, I want to diversify, and you want an expert manager, you put one in an e t F. Now that et F can buy bonds, it can buy stocks, it can buy a combination of
boat as a balanced ETF for you. So it's a bit of what you want to do as a Nigerian. And if you want to buy a US talk you don't going to buy everything. So buy the ETF that buys the whole US market, that equities, video or b and this is going to be bonds. That's the point it's making.
That makes sense. Peter, all right, let's get to.
John for high Yeah, thank you guys for your contribution and inside, thank you for organizing your dej Thank you for everything that you're offering.
It's very knowledge of where we are letting it from you.
My question is regarding the latility coming to election in Nigeria, which is you know to the world the tackled, what do you think about the currency and were we especial any evaluation in currency if we.
Went to some model, come I invested in Nigeria.
And at the same time, do you have any timeline for than go tell your refinery.
Listen, two powerful powerful questions.
Based on prepare dis questions and stuff. Maybe latest second for that. But you know this most most of those things are always kept until they get all the approvers before they want to disclose, and it can keep moving depending on how the approval process is. What we are sure that to twenty six that would be that would be coming. Please, your first question.
Is asking for it. There's going to be the valuation of the you.
Know, they encouraged.
Because money that somebody put in at the investment last year where you have several hundred to from several hundred to you knowles.
If you have.
That was interested.
Hold on, hold up, hold up, Okay, answer the question asking about he's asking about it's going to be in evaluation soon. If you said devolution.
Were expected the dollar too before thousand this year because of election?
No, I don't know, no, because sorry, yeah, when you check, I was at an eventure today that they want Bismark. Mister Bismark run was talking about the defferentmental the logy he has used our night rights currently rightly priced. You know what we used to have before is that we don't are just when we when we were supposed to. But we're saying that is a bit of markets forces, this liquidity. The b match market is providing transparency, so
we don't expect any major shock. I believe that if they serious preaure, who would see it reflect immediately even from the official market. So that's will not necessitate any major adjustment because markets will see that natural adjustment in the markets. And secondly, I don't see any I don't foresee personally looking at made maxumum of five five ten percent devaluation. If it will happen, it shouldn't so at ten percent at one five doers almost get into one
seven one. It's so, and that's why you see spield that night. Investing in Nigeria and assets are twenty percent may still be better.
And mister Ayo, just to.
Make this point against gentlemen asking, so by second quarter, Donald Trump will have taken over the us FED. Either the current guy would have gone and Trump put a pointed new chairman, or who would have removed the tiner lady and put someone else there. If that happens. Trump has said he wants to reduce interest rate in America. So assuming he reduced interest in America, remember he's already
pushing for ten percent. God, if interest rates in America, for what happens to the dollar, it will fall, what happens to naira and narra will go up because more Americans will simply take do this carry trade. So if look at the look at what's happening in the US clearly and look at then the effect in Nigeria, I don't see the dollar becoming stronger. Trump wants a weaker dollar because it allows him to do more export and
all that outot too power. So that helps the naira in that because there is lower returns on the dollar, you can make more returns on.
The dollar in Nigeria.
Nigeria have dollar bonds being eighty nine percent, Nijera has eurobonds paying seven eight percent. So the same dollar in America will end you less than the same dollar in Nigeria. So if you start to that, in all things been equal, of course, that tells that when a city is huge for the dollar is strong Nigeria, so fast the dollar is weak Nigeria.
Enjoy it. I'm gonna again with cell crude oil, so again give that that.
Oh let's get I think we have y K I've got only only a lying CASA three go ahead, So we've got about for a minute.
Sorry I'm Russian.
Here, okay, believe near everyone. Hi, thanks for the session.
So my question is regarding bention on most especially people laundry contribution.
Recently, I engaged in the conversation.
With one of my colleague and it was like these new talks, if you're being directly from you early to the laundry contribution that you're already having. I gain girls recatid to have retax rates for my big grade is around that eight ten percent. So you're like, okay, if you are a percent save on this your voluntary contribution rather than relating to be tax and you still be investing in the mutual fund that is giving maybe sixty percent, So what is your take on that?
Thank you? So if you're if I get the question correctly, that you're if you increase your voluntary contribution, you can save tax and maybe up to eating percent. Mister Talb, I don't know if you can have that.
No, the eighteen percent is the statute three, which is eight percent from you, ten percent from your company, so eighteen percent stattoo three.
But if you do additional voltue contribution.
You are reducing your income, which then reduces your taxable income. Because when you do AB, you've reduced your taxable income. That's the whole idea. Yes, sir, and remember you can take ABC out after five years.
So look at it this way. If you want to send your.
Daughter to school abroad, you can do ABC when she's born, and then after ten years you can withdraw that ABC before you retire tax except.
Just keep that in mind.
Another answer your question, Yes, thank you perfect last person sermonstar. Are your last person going to be ox lay Tech? And then we'll just last person Oxley Tech. Can you have your question real real quick if you don't mind ox lay Tech. After going once O there going twe Miss Dio. I can't thank you enough for coming in to just to talk to us. I think I've a lot of clarity. My dms just show the level of insight to be giving up today. Lots of people who
want the recording after the session. Yes, it's to be recorded on podcasts. We're also still on the YouTube. Support the YouTube and the podcast to be recorded for you to go back and watch, and of course also on Twitter is going to be recorded. So if you do have questions? Did you have has a very open Twitter page ask him questions. I always share his twits about the bond market. Also, if I have a question for him, you can send to me and also send to him.
I just want to thank you guys all for tuning in today. It's been a pleasure. I hope I'll see you guys next week again when we talk around education and using your tax to pay for education, I'm going to do that topic, misterio.
If you have any closing words, sir.
Okay, thank you, Thank you very much. And my closing words passing words would be that twenty twenty six, you should just ensure that you don't leave any I do. I do funks. It's really very import attents. Don't keep any high performs in twenty twenty six. We so expect that there's say a lot of opportunities and idea has gone through the it worst, and I would say at least with the last two three years, there should be time that we should be able to reward ourselves. So
take investments. You just try to learn and invest an overall you will thank yourself, thank your future for taking those steps. Thank you so much, mister hardy for with this great opportunity. Thanks for all you do for us.
I appreciate you, sir, thank you, thank you for coming. Say again I really are that so again, guys, thanks a lot.
We all want to learn.
This is the time of the year where we learn about investments so we can then take advantage going forward. You know, like mister Iaohas said, just try to be very very simple about this. If you don't know what to do, try to buy a managed fund. You can buy equity, manage fonts, you can buy fixed in combandage fonts. You can put that money in and an expert will essentially manage that money for you. Look at it this way. If you are in Nigeria, I want to do what
mister Ayo has said. There are lots of apps that arrested by sex. There's Bamboo, there's Shaka, there's Cawi wise which have I not mentioned the arrested in Nigeria. You can take your naira, invest in naira, buy those apps and you are the specified. Last I think it was two weeks ago, I give you guys the V strategy. The V strategy where I said, if you want to buy equities, you don't know what you are doing. Just
look at the v VS Vanguard. If you do VT VT, if you just google VT, that's going to be an et F where you are buying all.
The stocks quote unquote that are good in the world.
Right, So you are buy your some Song, you are buying your Nvidia, you are buy your Ali Baba, you are buying Mercedes, You're buying all those stocks that are quote unquote. That VT a sort of Collette collater into one ETF. So you buy twenty five dollars ETF. What is fractional shares? You're getting exposure to VT. Now, what if you don't want to buy just America, you don't want to buy the whole world, or you bought the
whole world. Now you want to go and buy the largest market in the whole world with America, you can buy VT I and VT is going to give you experts about forty five hundred American stocks VT I. So you buy your Microsoft, your Texla, your Nvidia. You bug of America just by buying that one ETIER. But then what if you you don't want for the five pod,
they want to buy some too smaller. You can then go buy v O O and view is going to give you exposure to American stocks, but only five hundred of those four forty five hundred they're getting about five in v O Oh. But what if you say, Okay, I don't want to buy America stalks, I want to buy just stalks outside America, but not the whole VT. You can buy v x u X, which is v
x x US, not the US. So you buy your some songs, your Toyota, your glass of Midland Beacher, but you're not buying American Stoctor's v x US and it goes on. You can buy VA if you want to do or buy if you does the real estate, you can buy the v y n A. If you're just looking to buy stocks that will pay you a dividends. So just go to Vanguard right google their ETFs and you can do a buffet. I want to get equities or I want to get dividends. I want to get property.
Across the world, we used to have Nigerian ets it's now sadly gone, but you can sort of mirror Nigerian ETFs.
You can create your own.
If you look at the Nigeria market, you see IBTC thirty, you see Marristrem.
You see, even just when I want to say.
That this company also has an ETA, just look at the components of that ETF and just compete and just design your own if you want to do that. But it's a good way for you to die pasify with just one investment. Like he said, this year, going forward, we not have tax harvesting, we not have capital gains. We didn't have it before. So the normal way you
bought stalks in the past has got to change. Because if you buy a stock now and you heading said you sell that stock, even though you're not selling one fifty million, if you make eleven million are profit, you're gonna pay tax on that. So when you are buying and selling record keeping and strategy that becomes very very important because you've got to take advantage of that of that. So, actually, I don't know if you if you had your question, it's a io has gone. If anyone has a question,
mister Io has gone. We can take that question, or we can just thank you guys for hanging out with us. We'll hope to see you guys here again next week. Next week we're gonna have some guys we want to talk around education and how we can use the tax policy investing and trust to fund education. That's whatly do that next next week it's going to be very riching. So that way we sort of open our minds to this idea of using traw and tax benefits towards funding something.
It's not all bad. It's some minutings here are good. It's not all bad. I would just say keep records. I just don't keep records. Try to keep records. We will tak track your expenses, try to do the best way to keep records is to use just your debit card for transactions, if you don't use cash, and you do all your debit card.
As they go ahead, my.
Apologies, I was I was charged, well you called okay.
The question I have is.
I w was taken into somebody going around you thank on home for No. One on two and three.
We're going all those categories one day.
However, the older and like there do you have do you have do you have any what the world?
Now?
Do you have any atholity?
Or can you decide on you to be I think it's not that you live in the profession of the PF.
And also they regulation allows regulations to.
Say if you are you know I don't. I'm thinking you have a pay we call you.
To be on Yes, no, no, we have the main use of your owning.
And no you can.
No, no, you can decide what funds you want to be in what the PF. The PF has said, and we have four funds, and those four funds are as you get older. It's like it's like a target age fund. But they have four separate funds. So when you come into the p F A system as you are younger, the first fund is more exposed to equities because that's going to give you more return, right, but it carries
more risk. So as you are young, but you're supposed to be in stage one, but as you get older, they have a retiring fund and they have Fund three.
So the gentleman was.
Asking, can he decide to say, listen, I'm supposed to be in Fund three, but I want you guys take me to Fund one because I want to have more exposure to equities.
Which would make me more money.
The point Sirey was saying was that you can do that, but remember you are now exposing yourself to more risk. As you are retiring. You're supposed to be slowing down on the amount of risks you take. What is the whole stock I get crashes tomorrow, your arrestor is going to crash what you're about to retire. So you've got to balance the rewards and the risks. I wouldn't advise that if you are retiring, you put bulk of your funds in front one. I wouldn't advise that you have to have a balance.
You can't.
They ask mister Buffett to say, you can't impregnant eight nine women and have a child in one month. It doesn't work that way. So the thingness start to first early so that it can compound and you can move naturally from fund one to the retire fund. I don't advise. It's a good strategy if you can take the risk, but it's not advisable to just take all your.
Money and take a lot of risks because you want to.
Make a return. You are exposing yourself to a lot of return risks. You can't do it. You can't do it, but be aware of the risks if you want to take the risks.
It's all right.
Yes, My wipers is for people that have account If you would know that your PA maybe every other sells on those phone, so you will see the avay that are in terms of retards that are helping recall for one, maybe you see something or do you will see.
Or so.
And al say, if I belong to a particular a say and I, for example, epothetically for you and my getting for you.
Why did I'm gonna? Why did I'm gonna? Because I'm seeing that when the fund out, I think which.
Other thing is the PF is my real It's so not actually be.
Left with no just just just understand what what's what we're saying. Right when you are in front one, you have a larger exposure to equities, and it's.
Across all p fs.
It's not one p FE. All the p fs would have a fund one that has a higher allocation to equity. So the question I take it to Stephen was asking, was can I, as an older person, tell my PF that listen, Yes, I know I'm going to retire, but I want you guys to put my money in front one because I want to be exposed to equities, the idea being I want to make more return.
The anside is you can.
But again we're carvetting that answer by said and when you do that, you are exposing yourself to more risk. The fifty one percent that the stock market did last year came on the back of a higher volatility. If you look at the sharp issue and all that, it's higher for stocks than for bond. So it's left to the individual. There's no an investments, no right or wrong as an investor. If an individual says I want to take the risk, all you can do is to advice.
You can't say don't if you ask me.
If you came to me and your said I want to do it, I will tell you be very careful because you are exposing yourself to the diminition of principle. If you want to go ahead and do it, it's your money. So the ansier is, yes, you can, but be careful. Obviously, that's really the answer. Yeah, Ben wants to have Ben you have a follow up?
Ben?
Do you have a follow up on us?
Yes? Yes, yes, yes, yes.
On the pr fhees and you know their.
Fund one another.
I think in fund one they are allowed informed one to push their are none none. Let me describe it as non fixed income investments that investment in asset classes that are not fixed income, which if you understand.
What this means.
It means that the risk level bilding to be higher to the mido stocks, the midile bonds, the middle stocks, to other asset classes that are not fixing comulated.
They can they can push up to seventy.
Five percents on fund one to those asset classes. But out there you this for in fact, they don't get close to that seventy five percent in the last In the last five to seven years, pre fees are not beaten inflation. They've not even been able to have a year way they delivered up steady pertence. That's generally the u you know. So they've been very, very concious. And it's not just because it's not just because they're scared.
It's also because of the weed the investment landscaping Nigeria was, you know, and there was there was a reluck dance to channel pension funds outside the country.
There was a heavy relock dance to do that.
And it makes sense because most countries don't take their pension funds outside their country, because the pension fund is the backbone off of investments in every in every properly working country, is supposed to be how you fund things within your country, you know.
So there's a preader tonight. Now there's pressure on them to.
Collaborate with a lot of motel that there are, to collaborate with a lot of the other fund managers and all that to find their way to deploy their capital in environments that they go to aid them to make the risk very minimal.
So if there's a picking for a deal.
That involves governmental privates it is be infrastructure deal, they can't deploy it.
So that's so that's deployed to that.
Whe however they want to do maybe private which directly you can deploy it to that you to make money, so that a type of avenue is that they are currently looking at so be able to at least delivered testified percent. It's very bad that a passion your patient forms the total patient force is coning about twenty seven. It's very bad that they've not been able to get to at least five percents.
You know.
It's it means that as you're as you're planning to retire and you're waiting for a retire memory to come.
If they continue this retirement retirement money come, inflation would have made it look not speak at alls you it to be disappointed in my time, you see it, you know, So this is this is something that's they're currently working on because there's there's a lot of that guy says, a lot of you agitation to to do more.
You know, they have to do more as best pfies.
So also think I also think that the issue with the pfface is that they cannot just invest in anything like if they have to invest in only companies that paid dividends three out of five years. So if you go to the Niterian stock market, how many the pfs have their own index.
Exactly even on the stop they're.
Limited to and it's and it's there for a reason because nobody wants to lose money. If if I if I tell a pensioner, I'm going to buy stocks for you, at least, as you say, at least you're.
Getting a dividend. So it's safety first.
You know what We're coming from a confromsation where by pensioners used to step on the streets in legos before because they're going to get their pension.
So now the government does not want to take any chance with pensioners.
Moneys, it's better they give you back your principle, than they owe you that principle. And I think for me, so for now, now they've have four funds that be good. Before they only had one fund. You can only get that one return. Not they have four returns, maybe they a fifty ton. Maybe going forward, that will say wow, if you're a younger, you want to do crypto, you want to buy stocks, you can go to this one fund and that would then allow in America you can do you can buy, go to your IRA, you can
do whatever you like with your investment. But if with your investment crashes, you can want to the government. So perhaps ninten I would as we develope, maybe you look at that. But for now, I think it's retturn on principle, and it's a tax free savings for you. So if you have an arress, you're able to put money away without it being taxed. You're able to compound without paying fees. So I would say I tell people, indeed, look at this whole tax regime. The one place you can make
maximum tax serviences in your RSS. I don't see tax serviance in your life insurance. I don't see it even in rents. Rent it's five hundred thousand a year. Where you can really make an impact is to make put more money into your additional punt contribution. Imagine if you're putting a million in a year into that ABC, that's five million a year.
You can take that money out if you plan properly, if you know what you're doing.
You want to Jack bar or you're going to retire in fifteen years, start today to plan to put money that ABC, because you know I don't take the money out in five years. But if you wait, you can just put money today and take it out tomorrow will tax you. So long term planning, talk to your adviceor this money I have, I want to jack ba, I want to retire in ten years?
What should I do?
Your RSL has got to be in the picture. You just can't leave it to the chance and say, oh, when we get there, we'll sorry that. That's just the way you want to look at it. Yeah, fantastic, So guys, I think that's called today. Thank you so much for being here. Real quick, I tak.
Jesse, Jesse, do you have a question real quick for shut down? Jesse? Jesse going once, Jesse going twice. All right, guys,