You know that feeling when you lend someone money and you know that they are guaranteed to pay back and on time too? That peace of mind that you get and willingness to lend to that person again? That’s kind of what today’s blog is about.
Believe it or not, the Federal Government of Nigeria can actually be the ideal lender described above and if you can receive an alert from the Central Bank of Nigeria if you lend the government money. Wait, let me explain.
I know just how incredulous it sounds that I’m asking you to lend the government money. “What does the government need money for?” you may be thinking. Well, the government may be rich (we’ll never know) but it doesn’t always have a steady flow of tax and revenue to fund all of its expenditure. So sometimes, the government sources funds, through the things I’ll tell you about next, to fund it’s short-term liquidity needs.
In other words, when you lend the government money through things like treasury bills, the CBN directly credits your account at the time of repayment. Here are the two ways you can get a credit alert from the CBN:
So, while these may not have huge returns on them, the returns are guaranteed and if you are a long-term saver, this will be perfect for you. What are you still waiting for? Start researching and get the CBN to credit your account!
As always, when you win, we win. To the moon!
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