Understanding the difference between a value-added tax (VAT) and withholding tax is critical for businesses and individuals. Confusion between these two tax types is common, since they both involve deducting amounts from payments. However, they differ significantly in how they function. Getting this distinction right can impact an organization's cash flow, record-keeping requirements, and overall …
Fixed income funds and money market funds are two popular investment options that investors can choose from. Fixed income funds are mutual funds that pool investors' money to invest in bonds issued by corporations and government agencies. The bonds pay a fixed interest rate, hence the name "fixed income." Money market funds, on the other …
If you just started a job and need cash, obtaining a payday loan may be more challenging than you anticipate. Employment status plays a significant role in the approval process for payday loans, as lenders typically require borrowers to have a steady source of income to qualify for a loan. Starting a new job is …
Fixed deposits have long been a popular investment choice in Nigeria, offering a safe haven for those seeking steady returns with minimal risk. However, with the nation's inflation rate soaring to an alarming 29.9% as of February 2024, a burning question arises: Does the current inflation substantially diminish the real value of your fixed deposit …
Does the Current Inflation Rate Affect Your Fixed Deposit Investment?
Folorunsho Alakija's journey from a modest upbringing to becoming Nigeria's first billionaire woman is a testament to the power of unwavering determination and sound financial principles. With diverse business interests spanning from oil and gas to fashion and philanthropic initiatives, she has carved out a remarkable legacy as a self-made billionaire. Alakija's lessons transcend personal …
Fixed deposits (FDs) are popular savings instruments banks offer that promise returns over a predefined period, usually ranging from 7 days to 5 years. The key features that make fixed deposits attractive include predictable income, flexibility in choosing investment horizons, minimal maintenance once invested, and some tax benefits. However, the current economic climate in Nigeria …
The volatility of the Nigerian Naira has been a long-standing concern for many Nigerians, particularly when it comes to the security of their savings. As the value of the Naira fluctuates against major currencies like the US Dollar, the purchasing power of Naira-denominated savings can erode rapidly. This situation has understandably raised questions about the …
Nigeria's economic potential is undeniable. As Africa's largest economy and most populous nation, it possesses a wealth of natural resources, a burgeoning consumer market, and a talented, youthful workforce. However, investors must navigate a complex landscape with challenges ranging from infrastructure deficits to regulatory hurdles. This guide aims to provide a comprehensive overview of the …
Mutual funds and fixed income funds are two popular investment options in Nigeria. Both types of funds offer investors the opportunity to invest in a diversified portfolio of assets managed by professionals. Mutual funds invest in a variety of assets, including stocks, bonds, and money market instruments. Fixed income funds on the other hand, invest …
Withholding Tax (WHT) is a tax system that requires a payer to deduct tax from the payment made to a recipient and remit the deducted amount to the tax authorities. The system ensures that taxes are paid promptly and accurately. Many countries, including Nigeria, use the to collect taxes from various sources of income. In …
Fixed income funds are investment vehicles that allow investors to earn a steady income stream over a set period. They are considered one of the safest investment options, as they provide a predictable return on investment. Fixed income funds are typically made up of bonds, which are issued by governments, companies, and other entities. Fixed …
With February designated the ‘month of love’, you may want to pull all the stops to celebrate with your significant other., but what’s a Valentine’s Day celebration without gifts? Valentine's Day is a widely celebrated annual event that takes place on February 14th.It is a day dedicated to love and affection, where people express their …
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