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Investment and Retirement: The Nigerian Story (A Conversational Series)



Financial Fitness chat with Anchoria Asset Management

Anchoria Asset Management had its second edition of the Financial Fitness Chat on LinkedIn on October 14, 2020.

The topic of the chat session- Investment and Retirement: The Nigerian Story, provided participators with a one-on-one assessment and answers to questions pertaining to retirement and long term investment plats.

The Financial Fitness Chat session helped participants understand the principle of planning for retirement which revolves around knowing what short term goals are vis-a-vis retirement goals.

In a conversational chat tone, Ms Ete Ogun, MD of Anchoria Asset Management Limited, was able to engage participants on the group and provided bespoke responses during the session:

Typically, investment plans for retirement should be low risk, I am curious about what your investment management strategies are?

The strategies are client dependent as we are in all in different life stages. Whilst investment plans for retirement are low risk, one can create a portfolio with mixed risk pre-retirement.

It might not be a popular opinion, one would have thought investing in real estate will secure a peaceful retirement. But with new land charges, tariffs and unplanned governmental charges (at lease in Nigeria), is real estate viable as a retirement plan?

Real estate may not qualify as a standalone because of its illiquid nature hence diversification of assets is advisable.

What investment can a Nigeria in diaspora invest in towards long term plan like retirement and business investment?

The investment plan for retirement is a holistic one that considers personal circumstance i.e. age, the number of dependents, current income earn, projected income growth to determine how best to position investment portfolio. One thing to remember is that ‘the younger one is, the more risk aggressive one can be and the older one is the more risk-averse one should be.

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Good morning team… Honestly, I can’t wait for the session to start because I’m really anticipating and I want a clarification on these issues.

  1. I have a pension scheme I am running now, is it possible for me to switch?
  2. How often will I be receiving interest on the pension fund?
  3. When can I have access to the fund?

Thanks as I await your response

Thank you so much for the questions

On the first question, the National Pension Commission (PenCom) had earlier announced an opening of the transfer window for June 2020. However, at the moment, the window for transfer is not yet open.

Secondly, your pension contribution is handled like a unitized scheme i.e. you get in at a certain price and determine your return based on the current day price.

With regards to the final question, the instances are 4 months without a job subject to a maximum 25 per cent, attaining the age of 50 with proof you are no longer in service and relocation.

Thank you. Now, these are, as you said, individual-related. How about external factors that an individual has no influence over? Regulatory factors, etc.

You can only plan around external factors but there is no accurate predictor of what the external factor can be. I mean no one predicted Corona Virus and its effects on investment.

What an investor needs to do is to diversify your portfolio in a way that allows for flexibility when the need arises hence re-evaluation of a portfolio is done at least annually.

Will my pension be enough to see me through?

This depends on how much you have put away. Like farming, the more seeds you plant the better or plenteous your harvest should be.

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General knowledge session

This engagement is really around saving for retirement. When does anyone need to start saving for retirement – NOW!!! There is no time like the present to start working towards the sort of retirement you envisage. Everyone who gets any flow of fund either as a student, a Youth Corp member or a young worker can begin their plan for retirement immediately. You do not require loads of cash to begin only zeal and discipline to constantly put money aside.

Things to consider for retirement planning are circumstances peculiar to an individual such as:

  • Age
  • Number of dependents
  • Stage in career
  • Business ownership
  • Living with disability

How long before retirement?

Typically, investors with more than 15-20 years should have more risky portfolios than clients with less than 10 years.

It is good to employ the services of an expert especially if you do not have the required knowledge. However, you must always make it a point of duty to get your portfolio statement at least every quarter to keep abreast of happenings. Also, I know that many people are fixated on returns but please do not gamble with your retirement benefits.

This advice is for retirees or those close to retirement in less than one year – Do not invest in a business that you do not understand the full cycle of the business. You are better off sticking to what you know or otherwise let a financial advisor guide you through investing in financial instruments.

Make it a habit to put away money in registered schemes and really this is just to safeguard your funds Like the old saying – Little drops of water make a mighty ocean in due time. Financial Planning is very important for retirement planning. Your wealth creation partner is also very important Discipline to stick to the investment plan is perhaps most important Prudent Living.

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You can also invest in startup companies of family and friend but always ensure that your engagements are legalised and where necessary appropriate collaterals are provided.

Also, remember that your retirement doesn’t begin and end in one day. It means from retirement to the rest of your life, so you want to plan for the sort of lifestyle that you want. It’s always to reduce spending to purely basic needs for self and possibly partner.

You may also get insurance to enhance your return position.

At Anchoria Asset Management Limited, we are committed to partnering with you along your wealth creation journey. Our access to various investment options makes us a viable partner to handle your investment solutions.

As we countdown to the end of another session, I will like to note the following:

  • You can invest from your monies as long as they come periodically i.e. weekly, monthly and quarterly.
  •    Everyone should work on financial fitness as long as you can afford a phone and data; it’s like exercise, difficult at the beginning but beneficial into the future. More importantly, it gives you freedom.

Thank you for the time spent. I do not take it for granted. Please be safe (Health and otherwise) You can drop your question still. Have a beautiful day and a nice rest of the week.

Financial Fitness chat with Anchoria Asset Management is an open Group on LinkedIn where members can learn about investment opportunities and connect with investment experts.

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Christianity, Economics, Politics & Why Education Does not Work



Education Does not Work

By Nneka Okumazie

There are at least two guarantees of most education – procedure and profile: a procedure that shows how to reach an outcome and a profile that shows that the procedure was passed. There are other possibilities with education, but many get through both destinations and park.

There are lots of places around the world, developed and developing, where people rail about education quality or inefficiency. But, maybe those aren’t the ways to look at education if procedure and profile are achieved.

Looking broadly at education – there are 3 Fs to consider: fiction, fusion and fission.

There are many things anyone can read, learn or be taught but not understand. There are things that are real that can be explained but would seem like fiction to many.

It is possible to explain how telecommunication works to anyone, but many may not get the concept of waves. It is possible to see rockets and explain the science to many but would be too complex to understand.

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There are lots of new technologies, advances that people can be told about and shown, but would remain as fiction to them.

There are people who learn many procedures, get the profile, but remains fiction to them.

Knowledge – in general, is fusion, information coming together to become a unit or adding new units to existing.

Procedures – are a fusion of stuff. Fusion is common, happens often and can be informal.

Fission is the hardest and rarest of education.

Though people have spikes of fission on some aspects of what they have learned at some point, splattering and effervescing of extraordinary magnitude is the origin of major paths of advances through time.

It is true that many advances take years with continuous tests and efforts, but the intellect of fission does much at any time in the process.

Thinking about one thing and having several spectrums of it – towards accuracy is the height of the result of learning that the world needs more of, but gets less and less of.

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Quality of education may guarantee some fission, quality of tutor, sources, or mentor may try, but sometimes, it is either innate or something electrifies at some point.

Intellect fission results in hyper passion, courage, etc. different from those possessing procedural education that have to passion – [positive or negative] or courage – [positive or negative].

There are people with passion against something who don’t know much, only swinging around procedural knowledge.

There are others too, with some courage to hate, for wickedness, greed, factionalism, etc. that have procedural education, but not intellect fission.

They may get information, but they are not the intellect of fission for progress.

So how is intellect fission achieved?

How is it possible to learn something and the immanent mind reams, flips and sprawls it towards what others cannot just see?

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Maybe focus on how fission intellect.

As progress has glided in the world, so have troubles.

There are solutions and answers needed that education of fission would have provided, or education to spark fission.

But because profile education or stage is in demand – there is less and less care for the education of fission.

Many positions are filled with people who have profiles, but unlikely to move anything forward.

Though some curiosity, observation, creativity, analysis, understanding, great memory and insights may be results of some fission – but just like rungs of a ladder, difference abounds per reach and height.

Criticism is mostly a procedure. Deceit is a procedure. Getting rich is mostly procedural as well.

There are many things that are procedures – input and output.

[Proverbs 20:13, Love not sleep, lest thou come to poverty; open thine eyes, and thou shalt be satisfied with bread.]

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Christianity, Government, Ideology, Dumbness & Politics



Cambodia Tyrant

By Nneka Okumazie

Is falling for false information dumbness or a factor of human limitation? Assuming this, in the most difficult to verify situation suggests human limitation, there are limitless amounts of things that people fall for – signifying dumbness.

It is easy to get people provoked, happy, moody, emotional or whatever expression is desired, by characteristic twists or turns for those outcomes.

It is almost impossible to be smart all the time. It is rare to be smart most times, but it is possible to be dumb most times – with few flashes of smartness.

Dumbness is probably the nucleus of behaviour – with smartness as the shells. Dumbness pulls many but smartness takes work.

Dumbness sometimes is the default of thoughts, sight or other senses. If it appears or speaks like this, it means this; if it acts or moves like that, it is that – without question.

It is far easier to predict that people would be dumb than to predict they’ll be smart. Lots of irrationalities come from dumbness. Deception, though a popular tool, uses dumbness.

It is not often the smart or sensible paths that draw many, but the simple, or feels part. Something can feel so good to taste, smell, or other senses, but does not mean it is good for behaviour, health, etc. Many take the feel-good and damn the consequences.

Something may be so good at present, so easy, so advantageous, so acceptable, but does not mean it is good for the future. Some answers may seem so right, so appraisable but dumb, cheap and impractical.

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It is possible to have gone somewhere to get something at some point, but – would – years on, cause major problems for the people.

There is so much dumb thinking – so much outsourced thinking that turns out to be wrong.

One of the most common spots of dumbness is power. It is often assumed that people in powerful positions manoeuvre to get there and stay there, but predicting the behaviour of the powerful is quite easy because of how power drives dumbness because many assume that just being powerful means smart or better than others – it doesn’t. Ideology can take over power so dumbness can be the leader.

Do whatever you like as long as it does not affect anyone is another dumb statement that does not account for the possibility that private habits can be triggered externally depending on the situation, or say calculation – that assumes it is possible to get away with it, or not get away, but to do it regardless.

In science, evidence determines much. In justice, evidence matters a lot. But some justice failed because the evidence was not presented, or was countered, or ignored not because the crime was not committed. So the supremacy of evidence as the determinant of real true or false – isn’t that smart, it’s just the established rule.

Be careful what you think, or guard thy heart with diligence may seem odd to some, but the heart is the point of pull or plan for most wrongs. Thinking in certain ways is to have done it.

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Selfishness – or the best for one person or group, seems like what is preferred by most, but this classic dumbness becomes a loss, starting from the ones who think it’s of maximum benefit.

The present in all its hardship for many – is a matrix from the past, in how some took to selfishness, for the advantage of the day, to become the loss of the future for things linked to them.

The circuitousness continues.

There is the smart spectrum and there is the dumb spectrum. Some choose or it chooses them. There are those in the dumb spectrum that no knowledge, exposure or information does much to get them away from it. As a fact, as some get more exposed, their dumbness deepens.

Some people often feel others are smart while others feel others are dumb. Smartness or dumbness is not often determined by sides. Most times, dumb people throw dumbness to everyone else, as in the playbook of critics. Criticism – most of the way – is dumbness repackaged and responsibility defenestrated.

Understanding is relevant in how smartness navigates, but dumbness convolves into what many would choose.

Though technology was supposed to make smart, it powered mass social media that lets dumbness go wide. Most people hear, see or read there, they sometimes forget about it, but sometimes end up behaving in ways that express those actions – without tracing it back there.

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Also, most people say stuff as themselves, but often just channelling from that source or acting in ways that blend with what the source would like.

It is important to have internal strength, not just seeking always for the external, but to have this strength to wait a bit or a little, to process things through and properly, before going along the easy, one-way-think option available to all.

Though smartness is far better than dumbness and maybe should not be compared, but smartness at its best is limited. It is possible to be smart, using the information available and be wrong. So even at the peak of smartness, it should be understood that limitations abound.

God is a spirit.

This means God does not exist in the physical or cannot be seen, or instruments used to find distant physical object cannot be used to find heaven or see the Almighty God.

God ways, thoughts and judgement are different.

This means using statements like if God loves why to suffer – isn’t an expression of that understanding.

Genuine Christianity is what Christ wants, but many combine their Christianity with sin and all kinds of acts. Christianity as an ID is not answering the call to be truly born again.

Everyone can be right in their own eyes, but the Creator of the world, Jehovah Almighty knows all.

[Matthew 22:29, Jesus answered and said unto them, Ye do err, not knowing the Scriptures, nor the power of God.]

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Encouraging Girls in Science to Bring Fresh Perspective to Problem-Solving



Tolu Oyekan Inclusive Economic Recovery

By Tolu Oyekan

Over the years, the study of STEM (Science, Technology, Engineering and Mathematics) has increasingly gained grounds across the world.

Nigeria is not left out as many young people are becoming more interested in studying science subjects at secondary and tertiary levels of education.

This is no surprise as our world today is largely driven by technology. Technology encompasses practically every facet of our lives.  Life has become easier through the application of technology.

For instance, Information and communication technology (ICT) has proven to be invaluable as the world tries to navigate the COVID-19 pandemic challenges. The application of ICT tools kept people connected made essential services accessible and sustained businesses.

The 21st century brought about lots of scientific innovations which have propelled the need for students at different levels to become more proficient in the knowledge of STEM. Besides Physics, Chemistry, Biology and Mathematics; other STEM subjects include Actuarial Science, Statistics, Psychology, Robotics, Information Science, Atmospheric Sciences and Educational Research.

Experts have discovered that early exposure of students to STEM and technology-related subjects will help young people develop a passion for technological pursuits and eventually help them pursue a job in a STEM field.

Right now, the fastest-growing job categories are related to STEM with recent studies indicating new jobs in areas such as data analysis, software development and data visualization, virtual reality, artificial intelligence etc.

However, girls are highly under-represented in STEM and ICT classes; globally the percentage of young girls undertaking ICT courses range from 8.9% in Switzerland to 20.0% in the United States, except for India with 50.5%. What this means is that except this trend changes, women will remain under-represented in future workplaces.

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This year, the International Girls in ICT Day held on April 22 with the theme: ‘Connected Girls, Creating Brighter Futures’. On this day every year, stakeholders in the technology space and indeed all of us should seek opportunities to empower girls to develop digital skills so as to pursue careers enabled by technology.

As these young girls move on to take up various careers in the ICT sphere, they are faced with several challenges, particularly finding a perfect work-life balance. Conditions like pregnancy, breastfeeding and child care pitched against rigorous work hours put many women in disadvantaged positions. In many cases, childcare centres are not found close to places of work resulting in women working part-time or accepting lower-paying jobs to focus on their homes or quitting their career early.

There is also the glass ceiling issue affecting females in ICT such as gender biases during appointments, promotion and career improvement opportunities as well as harassment, biased evaluation by peers along familial responsibilities, which could cause increased stress.

There could be several factors that account for the under-representation of girls in STEM. One which is quite obvious, is the issue of the environment, culture as well as the emphasis on gender equality and encouragement of growth mindset. A report from the American Association of University Women (AAUW) shows that the learning environment and social belief system affect girls’ interest and achievements in STEM/ICT subjects.

Another study showed that in countries like Sweden and Iceland where gender parity prevails, girls perform better than boys on Math tests. On the other hand, girls from countries like Turkey where gender discrimination is greater don’t do well in math tests.

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Research also shows that majority of people view STEM fields as which should be ideally dominated by men; a view which still holds sway to this day. Society views women in science and engineering jobs as less competent than men unless they are exhibiting success tendencies.

No doubt, there are many women who are excelling in science and ICT-related fields.  Some examples of women excelling in ICT globally include Sheryl Kara Sandberg, Chief Operating Officer, Facebook and founder of; Ruth Porat, Chief Financial Officer of Alphabet Inc and its subsidiary, Google and Ginni Rometty, Former Chairman, President and CEO of IBM, In Nigeria, worthy role models for girls are Funke Opeke, founder, Main One Technologies; Omobola Johnson, former Nigerian Minister for Communication Technology; Juliet Ehimuan, Country Manager Nigeria, Google; and Cherry Eromosele Group Chief Marketing and Communications Officer at Interswitch, to name a few.

The beautiful thing is that girls definitely bring a fresh sense of perspective to problem-solving in the classrooms and workplaces as professionals. One of such ways is using her ‘voice’; by this, I don’t just mean talking. It is when a girl challenges the status quo, excels at her studies, contributes to making policies or suggests an idea that moves their schools or organisation towards a new course of action.

Some studies have shown that teams with women as leaders were more successful when facing tasks that are more mentally challenging and required complex problem-solving abilities.

But this good performance only showed if the women spoke up if the men believed that women were capable contributors, and if the team acted on the women’s suggestions.

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To ensure girls are more interested in STEM and ICT careers, women already in these fields should get more involved in the development of STEM policies that will favour and encourage girls to develop an interest in these subjects. These will include exposing girls to STEM fields, encouraging participation in STEM programmes, providing scholarships, as well as supporting learning opportunities in communities.

And men can be effective allies in gender equality conversations. They can start with listening to their female counterparts and taking their concerns seriously. Men in a position of authority can bring their influence to bear by amplifying women’s voices, educating other men against stereotype, credit women’s work and ideas fairly, advocate for policies that remove bias and advance equality. More importantly, men should show their support, at home, the workplace and in other social circles.

At Boston Consulting Group (BCG), the education and encouragement of girls to fit adequately into the future of jobs is a core aspect of our ‘Back to The Future’ agenda. Currently, there are more women in the BCG workforce in Lagos, than there are men. Working with this crop of brilliant women has brought interesting and insightful perspectives to problem-solving. So, I know first-hand that women bring a fresh perspective to problem-solving.

I hope that more girls will begin to have an affinity for STEM subjects and capacity will be built in ICT-based endeavours to gain new skills and enhance problem-solving.

Tolu Oyekan is a partner at BCG

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