Economy
5 Things to Know About InvestNow
Even though we’ll hardly ever talk about it openly, lots of people, young and old, are constantly worried about money. Do I have enough? How long do I have to save for? Why does my money run out so quickly? What can I do to make more money?
We frequently find that we are able to make accurate budgets, and financial plans, but the headache comes when it’s time to live by these budgets. So, how do we manage our money such that we can support our expenditure with our income, and still be able to put something away as savings? Furthermore, how can we ‘sweat’ our savings as it were, such that the money we have saved can bring in more money? Saving and investing are very important habits to develop for people looking to be more financially free, and one such solution is the InvestNow digital platform. InvestNow offers you a variety of investing options depending on your specific financial goals, your appetite for risk and how long you are looking to invest for.
Here are 5 things about InvestNow that you need to know, as you begin your investing journey:
Premium all-in-one investing platform:
The robust bouquet of investment products available on the platform caters to prospective investors with all kinds of needs and appetites. From university students, to young workers, to high net worth individuals, to corporate clients. Everyone will find a product that suits his or her needs and kickstart a strong investment portfolio. On top of this, InvestNow is powered by United Capital Plc, an investment banking, asset management, trustees and securities company with operations spanning more than 50 years. They provide technical support and financial advisory services to clients to ensure that a client is paired with the right investing instrument.
Capital Preservation:
Some products available on InvestNow offer capital preservation, which is essentially an assurance that regardless of market flows and ebbs, the initial money invested by the client is secure. This means that if you invest 10 thousand naira on a product with capital preservation, your 10 thousand naira is safe, will not diminish and can be liquidated at any time.
Recurrent Funding:
Recurrent funding is a feature that allows you to connect your regular checking account to your InvestNow account and authorize InvestNow to receive a stipulated amount from your regular account into your investment at regular intervals. This helps you make regular investments without any extra effort on your part. In actual practice, it requires some discipline to constantly invest a certain amount on a regular basis, so the Recurrent Funding feature is valuable, convenient and in your best interest. It is also flexible, as you can mandate InvestNow to collect funds from your account regularly but skip a particular day, week or month, perhaps for emergency reasons.
Live Trading with Stock Recommendations:
Before now, if you were interested in investing and trading on the stock market, you would need to constantly watch the news for changes in prices of stocks. If you either buy or sell stocks, you would have to send a mail to the customer care centre of your investing house. However, with Investnow an individual can monitor and get live trading stock recommendations which they can use to make urgent purchases of stocks they are interested in.
Secure, high fidelity investing from your phone:
We have come a long way from the days of long queues at the banking halls to withdraw cash, to long queues at the ATM machine to withdraw cash (these queues persist sometimes, sadly). Now, you can invest money in lucrative stocks or mutual funds from your mobile phone. InvestNow has simply leveraged on the prevalent technology of mobile to facilitate a lot of these investing processes. One shining example is the Money Market Fund. You can download the InvestNow mobile app, subscribe to the fund with the sum of N10,000, make investments in the fund, and receive updates on your returns on a regular basis, without having to see a single staff or walk into any of our offices. Also, because the investment products on InvestNow are regulated, there are no hidden charges and the whole process flows with the highest integrity.
When it comes to investing, the InvestNow digital platform provides a solid list of products to choose from, ease of use, and a willing, experienced guidance system. These assets make all the difference to new investors and subsisting investors that need to make the Intelligent choice as it relates to their finances. They are the promise of an exciting journey for the customer.
By Bon Peter
The Area 11 Command of the Nigeria Customs Service (NCS) in Onne, Rivers State surpassed its 2024 annual revenue target by N16 billion.
This information was revealed to newsmen by the Customs Area Controller of the Command, Mr Mohammed Babandede, at a news conference last week.
He also disclosed that the command recently intercepted 12 containers of illicit drugs worth over N20.30 billion concealed in various items.
According to him, the content of the seized container included 1,721,100 bottles of 100ml cough syrup codeine, 510,000 tablets of 50mg Really Extra Diclofenac, 7,100,000 tablets of 225mg Royal apple Tramadol and Tramaking, 3,461 pieces of sanitary ware fittings used for concealment, 840 pieces of Chilly cutter used for concealment, and 153 cartons of TVS rubber.
“Our vigilant officers and men have successfully intercepted and seized an additional 12 containers (40 feet) of illicit medicine.
“This is a testament to our unwavering commitment to safeguarding public health, ensuring security of our nation and compliance with Nigeria’s import regulations. This also justifies our commitment to trade facilitation, transparency, effective and efficient service,” he said.
He said last year, the command received the support of different stakeholders, thanking them for working with the agency to achieve success.
“We appreciate the continued support and collaboration of all stakeholders, including the media, in amplifying our message and efforts to combat smuggling,” he said.
Mr Babandede stated that, “It is worth noting that the morale and dedication of our officers have been significantly bolstered by the Comptroller-General of Customs’ award, recognizing Area 2 Command as the Best Command in Anti-Smuggling Operations.
“This honour has further strengthened our resolve, and I assure you that we will not relent in performing our duties to protect the lives and well-being of Nigerians.”
The customs chief said earlier last year, the command was given a revenue target of N618 billion but as of December 31, 2024, it generated N634 billion, higher than the N321 billion recorded in 2023, promising to do more in 2025.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.39 per cent on Friday as the demand for local equities continued to increase.
During the final trading session of the week, the insurance maintained its upward trend with a growth of 7.81 per cent as the banking index appreciated by 1.08 per cent, the consumer goods sector rose by 0.52 per cent, and the industrial goods counter expanded by 0.33 per cent, while the energy space went down by 0.49 per cent.
At the close of business, the All-Share Index (ASI) jumped by 406.19 points to 103,586.33 points from 103,180.14 points, and the market capitalisation increased by N248 billion to N63.166 trillion from N62.918 trillion.
The bourse recorded 67 appreciating shares and 11 depreciating shares, implying a positive market breadth index and strong investor sentiment.
Chams, Omatek, NCR Nigeria, Learn Africa, and Regency Alliance topped the gainers’ table after they gained 10.00 per cent each to finish at N2.31, 88 Kobo, N6.05, N4.95, and 88 Kobo, respectively.
On the flip side, TotalEnergies lost 9.74 per cent to trade at N630.00, CWG depreciated by 6.04 per cent to close at N7.00, Thomas Wyatt went down by 5.26 per cent to N1.80, ABC Transport crumbled by 4.07 per cent to N1.18, and UAC Nigeria shed 3.19 per cent to N31.90.
Yesterday, investors traded 709.3 million stocks valued at N8.2 billion in 13,593 deals compared with the 829.8 million stocks worth N5.7 billion transacted in 11,752 deals on Thursday, representing a slowdown in the trading volume by 14.52 per cent and a rise in the trading value and number of deals by 43.86 per cent and 15.67 per cent, respectively.
At the close of business, Chams topped the activity log with 58.1 million equities sold for N133.8 million, Veritas Kapital traded 55.1 million shares valued at N89.2 million, Abbey Mortgage Bank exchanged 50.1 million stocks for N165.5 million, AIICO Insurance transacted 39.7 million equities worth N68.3 million, and NPF Microfinance Bank sold 34.3 million stocks valued at N64.0 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its positive start to the year with a 0.08 per cent rise on Friday, January 3.
The market saw a gain of N840 million, with the value of the alternative bourse growing to N1.046 trillion from the N1.045 trillion it closed a day earlier as the NASD Unlisted Security Index (NSI) made an addition of 2.43 points to wrap the session at 3,052.34 points compared with 3,049.91 points recorded at the previous session.
The appreciation posted yesterday at the NASD OTC exchange was caused by two price gainers led by Industrial and General Insurance (IGI) Plc which jumped by 2 Kobo to end at 20 Kobo per share compared with the preceding session’s 18 Kobo per share and UBN Property Plc, which improved its value by 16 Kobo to close at N1.98 per unit, in contrast to Thursday’s closing price f N1.82 per unit.
The market posted a price loser, which was FrieslandCampina Wamco Nigeria Plc as it dropped 18 Kobo to finish at N39.76 share versus the previous day’s N39.94 per share.
There was an 856.6 per cent surge in the volume of securities traded in the session to 11.3 million units from the 1.2 million units traded in the preceding session.
Equally, there was a jump in the value of shares traded yesterday by 1,078.4 per cent to N56.8 million from the N4.8 million made previously, and the number of deals increased by 22.7 per cent to 27 deals from 22 deals.
FrieslandCampina Wamco Nigeria Plc was the most active stock by value (year-to-date) with 1.4 units worth N55.8 million, IGI Plc came next with 10.6 million units valued at N2.1 million, and 11 Plc was in third with 6,45 units sold for N1.4 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, FrieslandCampina Wamco Nigeria Plc came next with 1.4 million units valued at N55.8 million, and UBN Property Plc followed with 275,740 units worth N545,965.
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