Investing sounds like something only rich uncles in banana island do. But what if we told you that you (yes, you) could start investing today?
We sat down with a Product Manager who has spent two years in an investment company and now runs an Investment Academy for that company. We asked all the money questions you can’t get clear answers on.
Tolulope: Hi Tola, Tell us, what was it like when you first started working in investments? Were you confused, or did you come in ready to make billions?
Tola: Confused is a nice way to put it. In the beginning, I was trying to understand how investment products work, and let’s just say the financial world loves big grammar. But once I cracked the code, I realized investing isn’t rocket science—it’s just about making money work for you. Now, I focus on teaching others how to do the same without the headache.
Tolulope: What’s one investing secret everyone should know? And no, “invest early” is too basic.
Tola: Okay, here’s the real tea: Time in the market beats timing the market. People try to wait for the “perfect moment” to invest, but the truth is, there’s no such thing. The earlier you start, the better. Even if you start small, your money will thank you later.
Tolulope: So, how do you know if an investment is good or just vibes?
Tola: Three things: risk, returns, and your personal goals.
- If an investment is promising 50% returns in one month, run—that’s not investing, that’s gambling.
- Check if the returns are actually worth the risk you’re taking.
- Most importantly, make sure it fits your financial goals. What’s the point of investing in something you can’t touch for 10 years when you need the money in two?
Also, if someone says, “Bring two people and they’ll bring two more people…” just know you’re in a MMM.
Tolulope: Let’s say I have ₦15k and want to start investing. Where do I put my money?
Tola: First, don’t put all your money in one place. That’s how heartbreak happens.
- Start with a money market fund—it’s low risk and gives you better returns than keeping cash under your mattress.
- If you’re feeling a little bold, look at stocks or mutual funds.
- Just be consistent. Even ₦5k every month will make a difference over time.
And no, your friend’s “sure odds” in sports betting is not an investment. I’m looking at you
Tolulope: Have you ever seen an investment fail? Spill the gist.
Tola: Oh, absolutely. One time, a bunch of retail investors jumped into a stock because everyone was hyping it. Then the market crashed, and they panic-sold at a loss.
Lesson? Investing isn’t about following the crowd. If everyone is shouting, “Buy now!” it might already be too late. Do your own research, or at least ask someone who knows what they’re doing.
Tolulope: Where do you think investing in Nigeria is going? Should we all just move to Canada?
Tola: No need to renew your passport just yet. Nigeria’s investment space is growing fast. Three things I see happening:
- Digital investing will take over—people want to invest from their phones, not stand in banking halls.
- Alternative investments (real estate, agriculture, etc.) will blow up. People are looking beyond stocks and mutual funds.
- Financial education will be a game-changer. More Nigerians are realizing that making money is one thing, but growing it is another skill entirely.
Long story short: If you’re not investing yet, you’re sleeping on a long thing. Wake up.
Tolulope: Final question: How do we invest and not go broke?
Tola: Simple: Invest what you can afford to leave alone. Your rent money is not for stocks. Your food money is not for crypto.
Start small, be patient, and before you know it, you’ll be the rich uncle or aunty at Banana Island. And that’s the goal, isn’t it?
