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Top Online Investment Platforms In Nigeria

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top online investment platforms

Top Online Investment Platforms In Nigeria

Investments are underrated. If one can climb to a high mountain and scream about investment then he or she should. Investment trumps savings any day because the interest and profit margins are huge.

Related: 6 modern ways of saving money in Nigeria

As a result of the growth by leaps and bounds of technology, financial transactions have been made smoother and easier. One can be atop his/her bed and send money to someone else several miles away. The same ease used to make bank transactions are applied to investments too. Online investments are possible and are associated with so much ease.

top online investment platforms

If you are looking for

  • Investment with monthly returns in Nigeria
  • Best Nigeria investment company that pays weekly
  • Invest and earn daily in Nigeria
  • Best online investment platforms
  • Online savings platforms in Nigeria
  • Genuine online investment companies
  • International investment platforms
  • Investment apps in Nigeria

Then this piece is for you. Read on to find more on the top online investment platforms in Nigeria.

Top online investment platforms in Nigeria.

  1. Sumotrust

Sumotrust savings and investment platform in nigeria

SumoTrust is an online savings platform that helps you save and invest money automatically. The platform is targeted to Nigerians and pays 10-15% interest Annually. Sumotrust as one of the best online savings platforms in Nigeria comes with lots of interesting features.

It was founded to encourage the poor rate of savings and investment in Nigeria, especially amongst the younger age group. Sumotrust has a high-interest rate and one can join with as low as 100 Naira. This top online investment platform is open to people from all walks of life and occupation ranging from freelancers to students, civil servants, etc.

One of the good features that made SumoTrust number one on this list is its high taste for customer’s account security. Even if your Sumotrust account gets hacked, the hacker won’t be able to change your bank details and withdraw your money, a KYC form will be needed to be submitted before the approval to change bank details can be given. Sumotrust as the best digital savings platform also uses a powerful blockchain security protocol to protect accounts that have it activated.

It is also on a quest to raise 1 Million African entrepreneurs in partnership with Entrepreneur Platform to access discounted-free Online Business Academy for its users and African business forum to collaborate and work with like minds in building better and sustainable businesses.

With Sumotrust, you also get access to various business leaders in different industries at discounted fees (for business consultations) to help you grow and scale your business.

Even though you can use Sumo Trust to save for any reason (Business, travel, school, emergency funds, school fees, shopping, property, etc) its core value is tailored to helping young Africans build wealth with little efforts.

Sign up and start saving with Sumotrut at Sumotrust.com

2. Cowrywise.

Cowrywise savings platform

Cowrywise is one of the top online investment platforms in Nigeria. It functions as a savings and an investment platform. It was founded in July 2017 by Razaq Ahmed and Edward Popoola and has is based in Lagos, Nigeria.

Cowrywise makes it possible for Nigerians to access high yield savings and investment opportunities with a minimum amount of money. The deposit can be as low as a hundred naira (#100). Asides being a top investment platform, the app offers financial planning tools and a digital wallet to encourage use among its customers.

3. Piggyvest

top online investment platforms

Piggyvest is identified as one of the top online investment platforms located in Nigeria. It was the first and foremost online savings and investment account located in West Africa. It was launched on the 7th of January 2016.  In April 2019, the platform was rebranded and began to offer direct investment opportunities coupled to savings. It offers a medium for one to invest directly in businesses like agriculture etcetera. The plan for investing in Piggyvest is investify.

4. Riby

Riby is the best investment platform for small groups, cooperation, and the rest. It is one of the top online investment platforms in Nigeria. The application gives room for savings, investing, and obtaining loans.

Different plans exist for different market segments. The market plans include;

  • Riby co-operative. This is a plan available for co-operative organizations and small businesses. It allows for obtaining loans at good interest rates.
  • Riby peer lending. This is another plan available on the Riby platform that gives room for mutual benefitting. Peers can lend money to peers.
  • Riby savings app also exists for saving cash.

5. Thrive Agric

This is another top online investment platform in Nigeria. It is perfect for investment in the agricultural field. It allows one, fund any aspect of agriculture. All that is needed is just to indicate the aspect interested in, fund it, and watch it thrive. Interest rates from profits accrued are up to 6-25%. Using the Thrive app has a plus. It let’s one monitor the investment made until it matures. It also let’s room for one to monitor what goes on, on the farm invested in.

6. Wealth.ng

Running after information and chasing investment bankers around can get quite annoying and difficult but wealth.ng brings information and much more to one’s doorstep and is just a tap away. Wealth.ng is hands down one of the best top online investment platforms offering a more than the usual.

This platform allows one to invest in stocks, bonds, treasury bills, mutual funds, stock exchange, real estate, and much more. Asides these mouth-watering opportunities, wealth.ng also makes it possible for investment to be done in any part of the world and with any currency of choice, ranging from dollars, Euro, pounds etcetera.

7. FBN edge

FBN edge exists as another platform for making investments online. The platform supports investing in mutual funds and one can sit comfortably at home and manage investments made. The plans hosted under this top online investment platform includes

  • FBN money market fund. This gives room for investment in diverse forms of short term high-quality securities consisting of commercial papers, treasury bills, certificates of deposit, and much more. They are all offered by standard and legitimate banks in Nigeria and takes away the stress of going to the bank for the inquiry and purchase. The maximum amount of money allowed for investment is 5000 naira.
  • FBN Fixed Income Fund. This plan creates an avenue for investment in diverse long term debt securities issued by the Federal government, state government, and corporate institutions present in Nigeria. The minimum fee for entry-level in this plan is about 50,000 naira.
  • FBN Heritage Fund. This happens to be the most lucrative of the plans because investments made here are left for a longer period of time as against the other aforementioned plans.

8. Trove

Trove exists as another great and rich top online investment platform available to Nigerians. The application works by offering opportunities for Nigerians to buy and sell stocks, bonds, and cryptocurrency in Nigeria and in other countries like the United States and China. Besides buying and selling of the aforementioned, the Trove app makes room for investment in cryptocurrency, bonds, stocks, and much more.

The platform makes use of really easy tools that are simplified for the site visitors and investment to prevent confusion. These tools are used to track and monitor deals and investments made on the site. The platform also offers adequate security to prevent hackers and scammers from getting access to details of customers and also offers investment tips and information enabling one to become a better investor. The really great thing about this platform is that investments can be made with as little as 1000 naira.

Conclusion.

Saving for rainy days is outdated. Investing for the rainy years should be the better lingo. It is important to develop a good investment culture at a young age. It would play a huge role in the coming years that bear additional responsibilities.

 

 

 

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Ossi Samuel is a mafian thinker, an avid reader and writer, and political analyst. Am a humanitarian and fun loving person. I love Tech by the way and will always have your time if you have any ideas. I can be reached on Facebook

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Finance

The Key Challenges Facing Nigerian Banks

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Everyone who owns a bank account in Nigeria would have at one time or the other had reason to walk into the bank and encountered the long queues. There are times when we often wonder if these banks deliberately make people queue just to patronize them but the indisputable fact remains that even as we face challenges, so do these banks. so what are ts The Key Challenges Facing Nigerian Banks

Challenges Facing Banks in Nigeria

The Key Challenges Facing Nigerian Banks

The Key Challenges Facing Nigerian Banks

The various challenges facing the Nigerian banks include;

1.         Weak capital base

It is considerably difficult for a bank which can “hardly feed itself” to grant customers loans or go into international trade. A bank with a weak financial base is a bank on the highway to failure. Little wonder therefore why several years ago, the Central Bank of Nigeria (CBN) on realizing this impending doom, directed all Nigerian banks to increase their capital base from N1b to at least N25b by December 31, 2005. This led to the closure of many banks and only 25 banks were able to meet the N25b requirement. Some banks had to resort to mergers.

2.         Ethics and professionalism

Ethics can be regarded or is a defined and agreed set of values and principles or guidelines which confer or enforce on a person a sense of differentiation of what is right from what is wrong. Nigerian banks are known for a high display of unethical and fraudulent behaviours as well as greed and insider abuse.

This, therefore, constitutes most of the distress bank customers, the bank staff and management go through. In spite of the many interventions by the Central Bank of Nigeria in this issue, the trend keeps rearing its ugly head, every now and then within the Nigerian banking space.

3.         Poor corporate governance practices

Majority of banks do not adhere to good corporate governance practice. In the banking industry, the need for proper governance cannot be overemphasized if there must be an improvement in the company’s performance and attraction of potential investors etc. Other factors which form a cork in the wheel of progress of Nigerian banks include over expansion as well as the corruption of bank officials and improper risk management.

Fraud could be substantively reduced in the Nigerian banking system if proper business ethics and whistleblowing efforts and practices are carried out. This, of course, can be enforced or enhanced via moral corporate governance, which of course is lacking in many Nigerian banks. Recently, a new banking code of ethics was constituted. How many banks have enforced this in their working system? Very few, if any. This, therefore, calls to question the credibility of these banks.  If these corporate governance principles were efficiently implemented by banks, we would witness significant progress in our banking sector.

4.         Reliance on public sector funds

Most banks now depend on the public sector for funding thereby neglecting the private sector.

To discourage this trend, therefore, the Central Bank of Nigeria had to enact and enforce a policy which directed an increment of cash reserve requirement for the public sector. This policy upon implementation got many banks on their feet with a resultantly increased sourcing of funds or income from the private sector.

5.         Slow GDP growth

Factors like Low oil prices and low availability of foreign currency affect banks negatively. Banks meet several threats from their operating environment and the fact that Nigeria is sliding into recession (which is fast rewinding as at the time of writing this) is a potent factor.

Despite the relentless efforts by banking authorities to regulate and as much as possible, normalize the foreign exchange as well as the interbank market thereby enhancing the inflow of dollars, Nigerian banks still face severe narrow foreign currency liquidity. This is a big blow for the banking system in Nigeria and the need for a change cannot be too much to ask for.

6.         Implementation of the TSA-Treasury single account.

The implementation of the treasury single account in Nigeria has become a problem for Nigerian banks reason being that states and government parastatals that would normally fix deposit huge sums of money would no longer be able to do this as this money has to be rendered to the federal government for payment into the nation’s general treasury single account. Previously, banks use this fixed deposited money to grant loans and engage in other financial transactions while generating interest for itself. Banks no longer have access to floats provided by the accounts they maintained for the ministries, departments and agencies.

At a greater loss from the implementation of treasury single account are deposit banks. This is because public sector funds make up a large portion of commercial banks deposit. Due to this, banks will continue to devise means of mobilizing funds from the private sector.

Other challenges Nigerian banks faces are;

  1. The arrest of bank managing directors by the Economic and Financial Corrupt Practices Commission (EFCC).
  2. A decline in oil prices which has led to decrease in government revenues and subsequently bank rates.
  3. Failing to meet customer’s expectations.
  4. Implementation of the Full abolition of commission in turn over policy.
  5. Inaccessibility of banks in rural areas.
  6. Insufficient revenue.
  7. Non-availability of foreign exchange reserves.
  8. Pressure from regulatory bodies.
  9. The struggle for foreign currency imports by customers.

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Major Trends in E-commerce You Can’t Ignore in 2021

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Miss these 10 major ecommerce trends at your own risk! find out the Major Trends in E-commerce You Can’t Ignore in 2021 today.

2021 is the best time for ecommerce, with some amazing developments happening in this field. E-retailers are using data, analytics and innovative interaction to retain existing customers and gain new ones. Many trends and technologies are pushing ecommerce forward in an exciting way.

Ecommerce being an ever-evolving domain, its future is tough to predict. But these trends are promising for the consumers and retailers alike.

We’ve listed the 10 major trends in ecommerce you can’t ignore in 2021 who are pushing ecommerce forward.

Major Trends in E-commerce You Can’t Ignore in 2021

Major Trends in E-commerce You Can’t Ignore in 2021

·         #1. Integrated virtual sales implementation

Previously, the online sales team would wait for the customer to ask queries. Customers would ask about the features and specs, before making the purchase.

Retailers are now going the next step to initiate a conversation with the consumers via live chat. This leads to a direct point of connection with the visitor/buyer thereby forging loyalty. The sales team offers reliable advice about the products, its features or supplementary information, consumers are more likely to become loyal customers.

In 2021, brands are focusing to build loyal customers. The sales team no more makes pitches, they answer customer queries to build long term customer relations.

·         #2. Multichannel selling

When consumers find unique products on a merchant website, they also visit marketplaces such as Amazon and Etsy to find it there. In multichannel selling, the vendors sell on his own website and on other high traffic websites and marketplaces.

The consumers go to high traffic websites selling thousands of products to find unique items from multiple sellers. Here the consumer can buy a wide array of items and pay at a single point of payment.

Multi-channel selling is gaining momentum, no more can sellers afford to sell their products just on their website. Multi-channel selling exposes their products to a much wider audience.

·         #3. Instant delivery

This trend originally started by Amazon has gained popularity and is preferred by consumers. Same day delivery and delivery within an hour for groceries which means faster shipping will bring customers back for more purchase.

The key here is to keep your shipping methods in place to get the product to the consumers in the shortest time period.

·         #4. Real time analysis

In ecommerce, data is an invaluable source to gain insights into the customer behavior on the website. With traditional analytical methods, spotting trends and behavior is time-consuming. Actions to be taken by the seller are slowed down since they are unable to provide immediate assistance to the buyer.

Here comes real time analysis, the new hero of ecommerce. Issues or loopholes in the sales funnel are immediately identified by studying the customer interaction on the website. By offering a quick discount or assistance by live chat tools the problem can be easily solved. The conversion rates increase incrementally since the problem is solved while the consumer is on the website.

Real time analysis offers retailers an opportunity to fix customer issues immediately.

·         #5. Video Marketing

High quality product images and optimized product descriptions are vital for an ecommerce site. Now these are prerequisites.

Brands are using videos to build trust with the customer. These videos are entertaining and educating the customer with the aim to engage them. Behind the scene video clips, 360o videos, informative videos and live streaming is just the start of video marketing.

The importance of using videos includes – making the website SEO friendly (Google is planning to rank websites based on videos now), increases conversions and information is easier to consume. With Facebook including autoplay feature for videos last year, videos are now a primary source of consuming information.

Many brands have built huge YouTube networks while others user Vine, Instagram and Facebook to capture the consumer’s attention. Today there are more opportunities than ever to create a brand’s presence on websites/social networks where the target audience resides.

·         #6. Content is still the reigning king

Content is no more the means to optimize your ecommerce website for the purpose of SEO. Today, content is all about being informative. It is more essential than ever to stand out with uniquely helpful content.

Coming up with factual and actionable content is a difficult task. Many brands are involving their team members and the sales team to solve the customer related queries and build customer loyalty.

·         #7. Only retail players will be extinct

Brands are increasingly combining the online and offline experience. Before going to the physical store the customers would like to see if the stock is available in the store. The company website or the app tells the customer if the product is available, if not in stock then the customer is notified when the stock is refilled.

Going a step further, they let the customers see the stock in the local store and allow them to order from there, delivering within 24 hours.

·         #8. Rise of mobile shopping

When we think of “what next” in ecommerce, the answer is very obvious – mobile shopping. While this trend isn’t new, it consists of more than half the products purchased online. This means that ecommerce has to optimize their sales funnel for mobile.

A person spends upto 5 hours per day on his phone, this shows how mobile is now an integral part of life, so is online shopping. Mobile shopping removes barriers to comfort, brings simplicity in making and purchase and along with engaging the customer.

·         #9. More user friendly designs

UX/UI has massive influence on a customer. The branding has to be properly reflected, navigation easy and appeal the target audience. The entire experience has to be excellent or positive, if it’s substandard the website will get buried in the clutter.

While a good shopping experience can transform a visitor into loyal customer, the wrong shopping experience does more harm. The advantages of user friendly designs include – more sales because the purchasing is easy and the customer spends more time on the website leading to greater conversions and engagement.

·         #10. Connecting users with social channels is not enough

Getting consumers to like or comment on your social media pages is an outdated trend. With Facebook, Pinterest, and Twitter adding a buy button, brands are directly selling from their social networks.

In 2021, brands will have to find new ways to reach the right audience’s cutting through the clutter. With organic reach of social networks on a decline, ecommerce brands will have to find newer ways to engage their social media audience.

Concluding thoughts – Get creative and innovative, because ecommerce in 2021 will witness fascinating changes.

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List of Online Shopping websites in Nigeria

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There are many lists of online stores and shopping websites in Nigeria where one can shop online through the use of Phone or computer to access a website and a payment system. These E commerce shopping websites in Nigeria have become common among Nigerians as many prefer to Purchase things online while it is being delivered to them at home or office. Follow me as i am going to exposed to you the List of Online Shopping websites in Nigeria.

There has been some rapid growth in the Online shopping websites in Nigeria and most online stores have proven to be trust worthy as they discharge their duties. One can now but things at the comfort of their own home or office with varieties of payment system without the fear of loosing his or her money.  There are also other things you have to know before you shop online in Nigeria which I have previously published and you can read it here: This is the list of some Online Shopping websites in Nigeria according to their category of service.

List of Online Shopping websites in Nigeria

List of Online Shopping websites in Nigeria

List of Online Shopping websites in Nigeria

Perfume

  • http://www.perfumehouseng.com/
  • http://www.fragrances.com.ng/

General

  • http://www.kaymu.com.ng/
  • http://www.konga.com/
  • http://www.jumia.com.ng/
  • http://www.konga.com/
  • http://www.dealdey.com/
  • http://deluxe.com.ng/
  • http://www.adibba.com/
  • http://www.mystore.com.ng/
  • http://www.shopandmall.com.ng/
  • http://www.kara.com.ng/
  • https://www.webmallng.com/
  • http://zetashop.com.ng/

Wrist Watch

  • http://www.watchlocker.net/
  • http://www.watchaven.com/
  • http://timeless.com.ng/

Fashion

  • http://www.eshopng.com/
  • http://www.taafoo.com/
  • http://www.ozyet.com/
  • http://shopaholicng.com/

House products

  • http://gloo.ng/
  • http://www.dreamcare.com.ng/
  • Electronics/Computer/Phones
  • http://www.smartbuy.ng/
  • http://www.fouani.com/ng/
  • http://www.afriqbuy.com/
  • https://parktelonline.com/
  • http://www.lowcart.com/
  • http://www.blessingcomputers.com/
  • http://www.dsclng.com/

Furniture

  • https://www.domestico.com.ng/

Foods

  • http://www.forfoodonly.com/

Shoes

  • http://komoonline.com/
  • http://www.ohmashoes.com/
  • Health and personal Care
  • http://www.sizzelle.com/

Grocery

  • http://gidistores.com/
  • http://deeski.com/
  • http://www.jaramall.com/
  • http://lagmarket.com/store/

Auto Parts

  • http://www.autobox.ng/

Conclusion

Online Shopping in Nigeria is advisable if you can’t go to the mall or market yourself. It is relatively easy and almost anyone can do that provided you have a clear address and a correct payment system being requested by the websites. I have bought some few things online and it was a good experience with remarkable service.

Please share this post, like our Facebook page and I will like to have your suggestions and thoughts in the comment box.

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