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  It is no longer news that the Federal Government of Nigeria recently shut down some online loan companies. The government took this action due to the complaints they received about some malpractice perpetrated by these companies. Ever since these companies popularly called “Loan Sharks” have stopped their operations. Here’s the full detail of why the federal government shutdown online loan companies.  What are online loan companies? These are companies that allow you to borrow loans online. Basically, online loan companies enable you to complete the whole borrowing process without setting foot inside a bank. They are exclusively operated digitally. Hence, they are a very convenient way to borrow money, unlike conventional banks. Additionally, online loan companies have less stringent borrowing requirements, unlike bank loans. This is one of the major advantages they have over conventional banks. Are online loan companies illegal? No, online loan companies are not illegal in Nigeria.

  The agricultural sector of Nigeria is largely under-tapped, and one industry with huge potential. Therefore, it has been a major focus on the government for the past decade. Currently, there are   several loans   for farmers in Nigeria, to support their farming, and grow the economy at large. In this article, we are going to look at the loans for farmers in Nigeria that you can enjoy. What are the available loan programs for farmers in Nigeria? Some available loans for farmers in Nigeria are: Farm operating loans (direct and guaranteed):  This loan is handled by the farm service agency (FSA). It offers several operating loans for family plant and animal farmers to promote and sustain their farms. In doing so, they grow the agricultural economy of the country. Farm storage facility loans:  The government brought about this loan to encourage the storage and handling facilities for certain farming commodities. In reality, some of these commodities include grain sorghum, corn, oats, whea

  In  investing, do not buy or sell based on what your friends, neighbours or that fancy stock guru is buying. You do not know their realities. You do not know their risk appetite, information ratio, manoeuverability, asset allocation and incentives. Actually you know nothing about those you wish to imitate. Robert Cialdini described this behaviour as ‘social proof’. It is the tendency to see an action as more appropriate when others are doing it. It may not always be the best for you. Do not be in a hurry to grow up.  You are always asking when you will get independent, when you will make money, when you will be involved in discussions we adults take part in. Some things take time. Growing up is a process. Enjoy it. Your science book explains how a seed turns into a sapling, then into a shrub and later into a tree. Some seeds wither away, not all turn into a tree and bear flowers and fruits. We nurture, support, love and sometimes admonish you—it’s all a part of growing up. You may no

Financial Navigating in the Current Economy: Ten Things to Consider Before You Make Investing Decisions Given recent market events, you may be wondering whether you should make changes to your investment portfolio.  The SEC’s  Office of Investor Education and Advocacy  is concerned that some investors, including bargain hunters and mattress stuffers, are making rapid investment decisions without considering their long-term financial goals.  While we can’t tell you how to manage your investment portfolio during a volatile market, we are issuing this Investor Alert to give you the tools to make an informed decision.  Before you make any decision, consider these areas of importance: 1.         Draw a personal financial roadmap.   Before you make any investing decision, sit down and take an honest look at your entire financial situation -- especially if you’ve never made a financial plan before.   The first step to successful investing is figuring out your goals and risk tolerance – either

Government small-business loans are typically available through banks and other approved lenders, not the government itself. With most of these programs — like the popular SBA loan program — the government backs a portion of the loan and repays the lender if you default. The government guarantee reduces the risk for lenders and incentivizes them to offer small-business loans with competitive interest rates and flexible terms. Because of those benefits, government business loans often have strict qualifications. But if you can qualify, they’re a great option to fund or grow a company. Here are some of the best government small-business loans, plus information on alternatives if you aren’t eligible for funding. Types of government small-business loans Federal government small-business loans SBA loans. Perhaps the most well-known type of government business loan, SBA loans are issued by banks and other approved lenders and partially guaranteed by the U.S. Small Business Administration. S

Federal and state agencies, as well as private companies, offer small-business grants. Here's a list of resources. Small-business grants provide free money for startups and existing businesses, including those impacted by the coronavirus pandemic. It takes time and effort to research and apply for funding, but the payoff can be worth it if you secure a grant for your small business. To help you get started, here’s a list of federal, state and private small-business grants and resources. Federal small-business grants Government agencies are among the biggest distributors of business grants, supporting a range of enterprises from environmental conservation to child care services. Applying may seem intimidating, but federal grants are great opportunities for small-business owners looking to grow. Grants.gov : Grants.gov is a comprehensive database of grants administered by various government agencies, such as the Education Department and the Department of Veterans Affairs. Small Busi