society

Investment in a COVID-19 World: What you must know and do (Conversational chat session)

Published

4 years ago

September 16, 2020

On the 9^th of September 2020, Anchoria Asset Management engaged its followers on LinkedIn and provided answers to key financial investment questions, especially, as it relates to investing in a COVID-19 period.

The Financial Fitness Chat session helped participants understand the principle of how, when, where and what to invest depending on individualist approach and capacity. In a conversational chat tone, Ms Ete Ogun, MD of Anchoria Asset Management Limited was able to engage participants on the group and provided bespoke responses during the session:

In the light of the covid-19 pandemic and its effect on the Nigerian business environment, what alternative investments opportunities exists out there, especially for working class professionals?

The alternatives are investing in growth companies which means you must have research on their products, people and process

I assume this applies to long term investments. Are there any profitable short-term investment alternatives available at this time?

Short term and profitable don’t actually go hand in hand for investment. Short term can have competitive yields. Competitive yields are returns which outperform current short-term government instruments for instance 91 days treasury bills. This is currently at 1.2%. If you get any return above 2.8% to 3% then it is competitive.

I know firms (including investment brokers like yours) are affected by this pandemic, what structure or structures do you have in place to help safeguard investor funds and help protect us from the effect this pandemic will have on investments?

Thank you for your question. The structures around safeguarding investors funds are diversification and asset allocation. Break down your investment objectives into timelines and invest based on those timelines i.e. short needs money market investment, medium needs money market/ fixed term investment and equity funds for longer tenured objectives. I believe that your funds will be very safe.

Another question from my end, do you have investment plans for Nigerians in the diaspora? Must BVN be subscribed to or my non-Nigerian bank can be used for the transactions?

There is the issue of regulation across jurisdictions. However, we do have investment products for Nigerians in Diaspora in country. You are at liberty to use a local or foreign bank provided that the documentation for each location is supplied appropriately.

Good day team, I so much appreciate this initiative. It is a way out for most of us in this pandemic period. Please I will like to know how I can invest for my kids.

Thank you for your question sir. You can invest periodically in the mutual funds especially the Equity Fund because its a good store of money value. It is also favourable because the initial investment is as low as N5000.00.

You can go to www.anchoriaam.com and get further directions or speak to our Client Relations Officer. The reward is immeasurably especially when you start keep at the investment plan over time

In view of the current economic uncertainty, is it advisable to hold FX denominated investment in order to edge against inflation or devaluation?

Thank you for your question sir. This is a tricky question. I will ask if you have dollar obligations? You wont have any near term need for the funds in foreign currency? If the answer is no then its not a real investment option for you simply because the returns for these can be lower than Naira and any conversion before the expected deregulation can cause a huge drop in your expected return.

How do we then “research on their financial products, people and process”. I mean for laymen like us who don’t have deep knowledge of the sector. Is that an aspect Anchoria can take care of as well?

It is aspect Anchoria can work with you. The goal is to partner to achieve your financial objectives.

Post Covid-19 Era makes my savings in the bank useless; please what investment can help me out? It can be long time I don’t mind.

You should diversify your investment holdings. For your immediate needs within one year invest in Anchoria Money Market Fund. For your 1- 3 years need invest in the Anchoria Fixed Income Fund and your bigger longer tenored objectives say 5-7 years invest in Anchoria Equity Fund.

Financial Fitness chat with Anchoria Asset Management is an open Group on LinkedIn where members can learn about investment opportunities and connect with investment experts.

society

OGSTEP Empowers Over 15,000 Artisans and Traders with Skills Development

Published

2 hours ago

December 21, 2024

Sahara Weekly

OGSTEP Empowers Over 15,000 Artisans and Traders with Skills Development

The Ogun State Economic Transformation Project (OGSTEP) has successfully trained over 15,000 artisans and traders as part of its ongoing skills development initiative under the Ogun State Skills Fund (OSF).

This was disclosed by the Skills Development Specialist, Engr. Adesegun Fatoki, during a stakeholders’ meeting held at the Obas’ Complex, Oke-Mosan, Abeokuta. He revealed that the training program recorded 6,605 participants in Vocational/ICT skills, 4,989 in Entrepreneurship, and 5,288 in Functional Literacy Training.

Engr. Fatoki explained that the OSF training is designed to equip participants with the knowledge and skills to effectively manage their income and businesses. “So far, over 4,000 beneficiaries have completed their training in the first batch, while the second batch is currently underway across various trades. The third phase will target market women, artisans, and traders, bringing the initiative closer to grassroots communities,” he stated.

He encouraged artisans, market women, and traders to register for the ongoing third batch of the training by visiting www.osf.ogunstate.gov.ng. He assured that the program focuses on demand-driven skills and operates at various training centers across the state.

Emphasizing the government’s commitment to the program’s success, Engr. Fatoki reassured stakeholders that the initiative is non-partisan and designed solely for the benefit of market women, artisans, and traders.

In response, representatives of various groups expressed gratitude to the state government for the initiative and pledged to mobilize their members to take part in the training.

Speaking earlier, the Project Gender Specialist, Mrs. Ewajesu, highlighted the program’s goal of empowering artisans and traders with critical skills to thrive in today’s competitive economic landscape. She explained that the training also improves participants’ literacy and business management capabilities, enhancing productivity and strengthening the state’s economy.

Mrs. Ewajesu urged participants to make the most of the opportunity, noting that the skills acquired would position them for greater success in their respective trades.

The meeting was attended by representatives from the Remo, Ijebu, Yewa, and Egba Traders’ Associations, who expressed optimism about the program’s positive impact on their communities.

society

Ibadan Funfair Tragedy: Ooni’s Ex-Queen Hospitalised as IG Leads Probe into Stampede

Published

9 hours ago

December 21, 2024

Sahara Weekly

Ibadan Funfair Tragedy: Ooni’s Ex-Queen Hospitalised as IG Leads Probe into Stampede

The Inspector General of Police, Kayode Egbetokun, has taken over investigations into the tragic stampede at a children’s funfair in Ibadan, Oyo State, which claimed the lives of 35 children and left six others injured. The incident occurred when over 7,500 participants, far exceeding the expected 5,000, rushed to gain entry to the event.

The funfair was reportedly organised by Prophetess Naomi Silekunola, the former queen of the Ooni of Ife, in collaboration with Ibadan-based broadcaster Oriyomi Hamzat.

Naomi, who was arrested alongside Hamzat, reportedly collapsed on Friday and was rushed to the Police Hospital at Eleyele for medical attention. A senior hospital staff member confirmed the development, stating, “Both of them are currently at the hospital. The police have secured the premises, and no further details can be disclosed.”

Eight individuals have been arrested in connection with the incident, according to Oyo State Police Command spokesperson Adewale Osifeso. A police source revealed that the Inspector General of Police has now taken charge of the case, stating, “For further details, you’ll need to contact Abuja.”

Victims and Medical Response

The Chairman of the Medical Advisory Council at Adeoyo State Specialist Hospital, Dr. Adeoye Allen-Taylor, confirmed that four children remain on admission. He added that some casualties were brought in dead and that the Oyo State Government is covering all medical expenses.

At the University College Hospital (UCH), Ibadan, five fatalities were reported, though none of the bodies were taken to the hospital’s mortuary. The Public Relations Officer of UCH, Funmi Adetuyibi, confirmed the death toll.

Government and Public Reactions

In response, the Oyo State Government mandated strict safety measures for all public events, especially those involving children and the elderly. Commissioner for Information and Culture, Prince Dotun Oyelade, warned event organisers of severe penalties for compromising public safety.

Governor Seyi Makinde, describing the tragedy as “painful and preventable,” announced the cancellation of his December 25th birthday celebrations to honor the victims. “There will be no birthday celebration this year. I will remain indoors to reflect,” the governor stated while receiving a condolence delegation from the South-East PDP, led by Senator Adolphus Wabara.

Condolences from PDP and Fayemi

The South-West chapter of the Peoples Democratic Party (PDP) expressed its condolences to the Oyo State Government and families of the victims. PDP Publicity Secretary Chief Sanya Atofarati attributed the tragedy to economic hardships, which he said pushed families to seek free entertainment for their children.

Former Ekiti State Governor, Dr. Kayode Fayemi, also extended his sympathies, urging authorities to prevent similar incidents in the future.

The investigation continues, as authorities work to uncover the causes of the tragedy and ensure accountability.

society

Inferno Ravages Ibadan Spare Parts Market, Millions Lost in Property

Published

9 hours ago

December 21, 2024

Sahara Weekly

Inferno Ravages Ibadan Spare Parts Market, Millions Lost in Property

A devastating fire broke out in the early hours of Saturday at the popular Araromi spare parts market, Agodi-Gate, in Ibadan, Oyo State, destroying property worth millions of naira.

The fire, which began around 2 a.m., continues to rage as firefighters struggle to contain the inferno. The General Manager of Oyo State Fire Services, Akinyemi Akinyinka, confirmed the seriousness of the situation and called for assistance from water tanker owners.

“We are battling with a serious inferno at Agodi-Gate. Help us to call water tanker owners to assist us. We are still here battling with the situation,” Akinyinka stated.

The cause of the fire is yet to be determined as investigations are ongoing.

This incident adds to a series of recent tragic fires in Ibadan. On Friday, a fire claimed the lives of a husband, his wife, and their grandson in the Ori-Eru, Idikan area of the city. The blaze, which occurred at 3:46 a.m., gutted a storey building.

Earlier in the week, another fire incident on Sunday morning destroyed three shops in the city, though the quick intervention of the state fire services prevented the flames from spreading to 13 neighboring shops.

Last Friday, a fire engulfed a Christ Apostolic Church parish in Lagelu Local Government Area during a vigil, trapping worshippers inside. The tragedy struck around 9:30 p.m. at Wisdom Estate, Road 1G, Olohunda Road, leaving the community in shock.

These repeated incidents have raised concerns about fire safety in Ibadan, prompting calls for enhanced preventive measures and quicker emergency responses. Investigations into the cause of the Araromi market fire are underway, while efforts to control the blaze continue.