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Treasury Bills in Nigeria: Investment, Rates, Calculation & All You Need to Know

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There are many investment opportunities where you can preserve and increase your money instead of just saving in the bank. Among these opportunities is T-Bills Investment – That’s investing in Treasury Bills in Nigeria. T-Bills investment is hidden to most Nigerians because it’s not hyped or talked about like other ways to make money or start a profitable business.

If by any means you want to know more about Treasury Bills investment, then you’re at the right page.

I will show you everything you need to know ranging from: the meaning of Treasury Bills, How Treasury Bills works in Nigeria, Types of Treasury Bills in Nigeria, Advantages & Disadvantages of Treasury Bills in Nigeria, Rates of Treasury Bills in Nigeria, How to Buy Treasury Bills in Nigeria, How to Calculate T-bills Profit and Definition of some terms related to Treasury Bills.

Now, all you need to do is keep your 100% mind focused here as you will learn something great and new today!

Treasury Bills in Nigeria: Everything You Need to Know

Let go;

What are Treasury Bills?

Treasury bills is also known as T-Bills. It’s is basically of short-term debt backed by the government of any state, in the Nigerian context, it issued by the FG via the Central Bank of Nigeria. These bills are offered here in the country on a bi-weekly basis via the CBN, and due to their liquid nature, they can be traded in the secondary market.

These bills are often used in funding many infrastructural projects which may pop up during governance, most projects like road, school, electricity and more have part of their funding from T-bills.

Treasury bills in Nigeria have a maturity period/date – a period where one can cash out or withdraw his/her funds.

T-Bills more like a loan offered to the government with interest, but this time it’s not from banks alone. It is from any individual in the country. The maturity period can be likened to a loan’s expiration date whereby the borrower will have to repay his/her debt. The maturity period for T-bills varies, but in most case it ranges from ninety-one days to a year, based on the agreement reached, the tenure could be more.

RELATED: Top 10 Banks to Get Loan in Nigeria

How Treasury Bills works in Nigeria?

So how does T-bills work in the country, it’s pretty straightforward.

Once in the period of two weeks, the Central Bank of Nigeria announces the sale of government securities which includes treasury bills, this information is carried in the pages of national dailies and on the CBN website. Interested persons will have to make a purchase by filling out the T-bills form from any of their official dealers, agents or commercial banks.

Once the transaction is approved, the proposed sum will be deducted from the account provided in the application form. Once received you’d be paid your interest rate upfront, the balance will be sent to you at the bills maturity date. This bills from now on will be used in funding most projects, it also used at times to as part of funding for the national budget.

Types of Treasury Bills in Nigeria

There are basically three types of treasury bills offered by the Central Bank of Nigeria, they’re a classified according to validity period;

  • 91DAYS NTB – These bills have a tenure of 91 days after which the FG pays back its debt to the lender. 91 days bill are auctions bi-weekly on Wednesdays but payments are to be made on Friday.
  • 182DAYS NTB – The treasury bills of this type reach maturity after 182 days of bill issuance. After this the bills are payed after the initial interest which is usually paid upfront.
  • 364DAYS NTB – You could also refer to this as bills that are matured after a year period. The auction is usually on Wednesday and payments the next Friday.

Now, let talk about the big deal;

Advantages and Disadvantages of T-Bills

As with all forms of business and investments, there are the good and bad sides of the coin, the same can be said for T-bills. Generally.

However, there are some advantages and also disadvantages which are as follows;

Advantages of Treasury Bills in Nigeria

  • Treasury bills are one of the best investments one can engaged in, for consistent income.
  • Treasury bills in Nigeria are tax free form of investments offered by the FG. This implies that you don’t need to pay added fees for tax.
  • The risks involved are less or let say it has no risk because it’s backed by the government.
  • You are assured of getting every penny invested back, plus interests.
  • There are no charges for transactions and they are very liquid.
  • Very advisable than keeping your money in back. Treasury Bills lets your money keep increasing.

Disadvantages of Treasury Bills in Nigeria

  • The major disadvantage that may is the constant fluctuation of interest rates, as this may hinder your profit potential.

Now let talk about the said rate;

Rates of Treasury Bills in Nigeria

The current rates for National treasury bills can be found on the pages of major newspapers, CBN’s website and the DMO website.

The currents rates Nigeria treasury bills 2019 as released by the CBN are as below:

Auction date

Marginal Rate

91 days182 days364 days
October 16, 201910.8011.00%12.94%
October 02, 201911.0811.60%13.20%
September 18, 201911.1011.75%13.30%
September 11, 201911.1011.79%13.28%
August 28, 201911.1011.58%12.89%
August 14, 20199.7011.35%12.00%
July 31, 20199.7510.60%11.18%
July 17, 20199.7410.75%11.13%
July 03, 201910.5011.70%11.91%
June 19, 201909.6011.89%12.02%
June 13, 201910.0011.94%12.34 %
May 30, 201910.0011.95%12.20 %
May 15, 201910.0012.30%12.49 %
May 02, 201910.0012.49%12.77 %
April 17, 201910.1412.50%12.74 %
April 03, 201910.2912.60%12.85 %
March 20, 201910.3012.20%12.34 %
March 13, 2019N/A12.50%12.84 %
February 27, 201910.90%13.01 %14.37 %
February 13, 201910.97%13.40 %14.95 %
January 30, 201911.00%13.50 %15.00 %
January 16, 201911.00%13.10 %15.00 %
January 02, 201910.89%13.10 %14.50 %
    • Credit: www.nigeriagalleria.com
  • You can find the rests of this by visiting >> https://www.cbn.gov.ng/rates/GovtSecurities.asp, there you’d see the rates for subscriptions, net sales, marginal rates, true yield and more, you’d could also explore the rates for other security like FGN Bonds, CBN bills and more.

How to Buy Treasury Bills in Nigeria

Purchasing of treasury bills in Nigeria is a pretty easy process and anyone can buy into it, as long you have the minimum amount required which is N10,000 you can invest in this business.

  • All you need do is get an agent or accredited dealer.
  • Request and Fill out the T-Bills form you’d be given, state your amount you’d be willing to invest and the money will be deducted accordingly.

Asides these accredited agents, commercial banks in Nigeria are also a good platform to buy any amount of treasury bills in Nigeria, and it’s advisable you use the banks to be on a safer side.

If you still don’t get the whole concept of T-bills purchase, don’t fret as there are agent in most commercial banks to guide throughout the process.

How to Calculate T-bills Profit

After investing in T-bills, you expect to get profit at the end of the day, you could easily calculate your potential profit before its maturity date. To calculate, you’d need to have some variables, the tenure/type of Treasury bill purchased, the amount purchased and you’re good to go.

Income is calculated in percentage so you have you subtract the amount from 100, and dividing whatever you have with the same amount, finally you multiply whatever value gotten by hundred – just like calculating the Simple Interest (SI) in Mathematics.

I mean like:

  • 100 – amount x 100 for the profit.

To get the annualized profit, you’d have to multiply what you have in the formula above by 365.

  • Annualized profit = profit x 365.

Definition of some terms in Treasury Bills:

Some you’d need to familiarize yourself with when dealing on treasury bills

  • Yield Rate – The yield rate for any T-bill is the amount of return on your investment, it’s expressed in percentage.
  • Bill Auction – It’s an event that occurs bi-weekly in which treasury bills are auctioned
  • Treasury Bond – Similar to treasury bills, treasury bond or T-bonds have fixed interest rates and have maturity of above 10 years. The interest is paid on a periodic basis until the maturity date.
  • Government Paper – These are securities that are issued by the Federal Government
  • Stop rate – Stop rate is the highest rate you can get on interest.
  • Tenor – Amount of days, usually 91, 182 or 364 days, that bills can be held.
  • Bid rate – This implies to how much you’re willing to buy any government securities during auction.

Rounding Off – Treasury Bills in Nigeria

So there you have it, all about Treasury bills in Nigeria. Soon, am going to write about top banks you can buy Treasury bill and how to buy them.

Let me say again that investing in T-Bills is very advisable for smart people like you because, the money you keeps in the Bank do nothing for you and sometimes the money are gradually deducted by the banks for some unreasonable expenses like card maintenance etc.

If you invest in Treasury Bills, you’re going to have your money increased and don’t forget that it is 100% risk free!

Keep anticipating for more guides about treasury bills in Nigeria but for now, do let me know what you think about this type of investment and don’t forget to share this amazing information with your friends by clicking on the floating social media icons.

 

My name is Stephen Gbolagade, people say I'm a multi-skilled guy. I guess maybe because I'm a Blogger, Website Designer, SEO specialist, Content Writer, Business coach, Digital Marketer, and Self-taught Frontend Developer. But what do I have to say about myself? My contents, personality, and services will say and prove the person I am to you. __________________________________________________________________________ You can hire me for Music Promotion, Website Design or Blog Setup, Marketing and any Digital-based tasks! __________________________________________________________________________ Contact me here on Facebook :: Instagram :: WhatsApp __________________________________________________________________________ If you're inspired by me and think it's necessary to buy me a cup of coffee, you can give me a tip HERE 👌

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21 Business Ideas for Pastors to Make Money in 2021

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Business Ideas for Pastors

Aside from tithes, offerings, and gifts, do you know there are some business ideas for pastors to make money?

If you’re into the pastoral line and you’re looking to start up side businesses to fortify your financial status, then you’re definitely on the right page. And you’re not alone. 

The pastoral call is demanding. You need to study hard, prepare sermons to canvas, and truly get to become intimate with the spirit of God. But the truth is – you need money. 

There are expenses you need to shoulder as a gospel minister, and you don’t want to depend on the pockets of the members of the Church for survival. 

Primarily, you need multiple sources of income to garner enough money to both help your flock with and handle other church activities – especially as it has to do with giving and outreach. 

Without taking much time, you’ll get a dose of 21 business ideas for pastors right here, and you can start any of these businesses and expect lucrative returns in the long run. 

Some of the business ideas for pastors on this list won’t cost you a dime, and others… quite costly to start up. 

That being said, here are 21 business ideas for pastors that you can delve into and make some extra money (even more than the $99k average pastor’s salary). 

21 Business Ideas for Pastors to Make Money in 2021

1. Freelance Writing

Freelance writing is simply writing to get paid. This is made easier by the availability of freelance marketplaces on the internet like Fiverr and Upwork. 

Now you won’t spend a dime here, and as a pastor, you can decide on how many hours of your precious day you spend working and hunting freelance writing jobs. 

To get started, you need to be sure you can really write about something fabulously. My best bet is you’re a religious guru and the religious niche is most related to your career (being a pastor). 

So you want to search for freelance writing jobs in the religious niche – vet the freelance marketplaces for employers looking for writers in the religious niche. 

This is pretty easy as most of the freelance platforms have an algorithm to match your expertise with employers’ demands. So if you’re a tech guru and you fill it into your profile, the platforms automatically queue up jobs related to tech. 

Quickly sign up on either of the best freelance platforms and get to work. You can take 2 or 3 hours off your day to build a profitable freelance writing career in no time. 

2. Copywriting

Brands are willing to pay you a lot of money to write brief, highly compelling, and converting sales speeches and product descriptions for their products. 

It’s like this – you write for brands and help them with copy-writing tasks, you get paid. Copywriting doesn’t take a whole day. It’s a skill you need to master (at least to some point). 

Copy-writing isn’t cranking up a 1000-word article or a 10,000-word guide. Product copies are short and highly compelling. They’re tagged along with products and easy to read. 

This is easily one of the best business ideas for pastors looking to make extra money. It gets easier to write copies that turn random (potential) buyers into loyal customers over time. 

And once you gain mastery of this art, then you’ll be on the payroll of multiple brands in a short while. This means more jobs and more money. 

3. Public Speaking 

Public speaking at events, programs, and other gatherings is one of the best business ideas for pastors as it is closely in line with what you do frequently – speaking. 

While you might not consider this a business idea or even take it to become a business in itself, but public speakers not trundling the pastoral path cash in on public speaking as a business big time. 

4. Uberpreneur 

If you own a car, you can do this part-time as a side gig.  Being a pastor, you can explore your leisure hours during weekends to pick up random passengers using a ride-sharing app like Uber. 

It’s easy and doesn’t cost much. But you’ll need to have a car of your own first to make things much easier. You get paid for every passenger you pick up and you can do this as many times in a day. 

Another way around this is hiring someone to run around in your car using the ride-sharing app while you supervise the earnings and transactions. 

Come to terms with the staff you hire as to how much you’ll take home daily or weekly or monthly. And how much he/she keeps daily (or weekly/monthly). This way, it becomes an excellent passive income stream. 

5. Graphics Designing

You’re a graphics designer or do you have a list of good graphics designers who design your church handbills and billboards? Then you can leverage the profit potential of graphics designing. 

It’s two ways – source for graphics design jobs on freelance platforms and outsource the jobs to experts in the field, or reach out to brands and organizations offering to help them out with everything graphics designing. 

On freelance platforms like Fiverr and Upwork, graphics designers get paid like rockstars. And you don’t have to do it yourself as a pastor. 

You can hunt for these jobs and outsource the task to someone else (apparently a reliable and efficient graphics designer). It costs nothing to explore this business idea. In fact, you can start right away. But if you’ll farm out the tasks to experts, then you need to pay them off (which will cost money).  

6. Ghost Writing 

More than 80% of successful brands and writers don’t compose their articles in solitaire. They get help from brilliant writers who can replicate any writing voice, flow, and spirit. 

For a pastor, this shouldn’t be a problem (as you can speak in any manner of voice you choose to). You want to brush up on your writing skill to venture this path. 

Ghostwriting is a profitable business idea for pastors, and the best part is it costs nothing to start up. You’re the asset here. And you get paid (more than $1k per an article in most cases) to cobble up great content. 

7. Real Estate

I know one too many pastors making it big in the real estate industry. Don’t think they don’t do great with their ministerial purpose because they have just more than the name – they’re spiritually upright. 

With your influence as a pastor, people trust you. And you can turn this trust into opportunities that’ll generate good money. The real estate industry works with capital and trust. 

I mean, people need to trust you enough to leave you a million-dollar worth of property. You don’t have to look too far to start this. And I bet someone in your congregation is into the real estate industry big-time. 

Start from there and tap into the already existing influence and trust you’ve built over the years to propel your real estate venture. In the end, it’s all about buying and selling properties – you can push buttons with phone calls.

If you are already into real estate or you just want to join the business, you can register on popular real estate listing platforms with a token as a subscription to sell or lease out your properties.

If you’re in Nigeria, Realty9ja.com is a good platform to buy, rent, lease or sell properties.

8. Gospel Blogging

I don’t want to veer off the gospel line. So let’s stick with gospel blogging (which is still very profitable). Start a gospel blog, answer questions, and you can transcribe your sermons to text documents with the help of freelancers or your media team (if they’re that good). 

The first step – your niche is gospel. More than 2 billion people are already interested. Secondly, start your blog. This guide will teach you how to start a free blog even with an Android phone. 

Reach out to other gospel bloggers who will be quick and happy to connect with you. Have your media team create guest content on several other gospel blogs to build your blog’s authority, and then you can start launching ultra-relevant content on your blog to get traffic. 

When the traffic starts turning in, monetize your blog using affiliate links, Google ads, or sell your own books (and products) – more on this soon. 

What you’ll blog about? There are thousands of questions currently unanswered about God. You know better. Provide answers in a way that people will keep coming back for more answers. 

9. Gospel YouTube Channel Monetization

Allen Parr is one gospel minister who reaches thousands of viewers with his gospel YouTube channel called “The Beat”. He answers sensitive and controversial questions pertaining to the gospel and makes money doing that. 

How so? With more than 740k subscribers, he earns from selling affiliate products, YouTube ads, and even has a $497 membership program. 

You can do this too, and you don’t have to be a gifted video editor or video maker to begin. Hire someone who can edit videos brilliantly, and efficiently. Or utilize the digital strength of your Church media team to publish video content consistently on your YouTube channel. 

This is inarguably a top business idea for pastors, choristers, and anyone called into the fivefold. 

10. Virtual Assistant 

Virtual assistants work remotely and they help with tasks admins don’t have the luxury of time to handle. They edit content, reply to emails, and organize meeting arrangements. 

But that’s not all – they get paid real good to do just that. To become a virtual assistant, all you need to do is apply. Websites like Indeed, Fancy Hands, Magic, and PeoplePerHour are great at listing Virtual Assistant jobs. 

You have only so many hours in a day to carry out your V.A. tasks and keep the cash before it’s time to mount the altar. 

11. Proofreading 

It’s great to write. But great writing mostly beckons on the strength of great proofreading. As a proofreader, you vet content and mitigate unnecessary errors that introduce unprofessionalism. 

Proofreading jobs are rampant on freelance platforms and this is another business idea you don’t have to spend money, to begin with. 

On the bright side, craft corporate letters to brands, send emails to different organizations, and inform them you can anchor their proofreading process with dexterity. 

It doesn’t take 10 hours to proofread a document – you can proofread a 3000-word document in about 30 minutes, and do that for several documents to earn $100 – $350 every time (depending on the budget of your freelance employer). 

You also have the option to outsource proofreading tasks to skilled proofreaders you know and take up multiple proofreading tasks to earn more. 

12. Crypto Trading 

Crypto has come to stay. And the decentralized system of financial transactions isn’t hostile to pastors either. 

You can tap into the volatile nature of cryptocurrencies while maintaining and running your ministry. With about $100, you can start trading crypto yourself. 

The best investment is to invest in yourself by learning to trade crypto versus investing in crypto trading firms to help you out. Invest time to learn everything you can about crypto. 

If you can understand God’s word with accuracy, then crypto isn’t as challenging. There’s a possibility to exercise your grace and faith in the crypto world. Who knows? You could execute a trade to make 40,000 times the initial asset you invested within a single day. 

To get started, acquire the knowledge. And get to know the best trading platforms out there. Personally (out of my professional experience as a Crypto Trader), Binance is best for trading. 

But if you want to acquire cryptocurrencies and leave them there to germinate over the coming years, then go for the Blockchain app (or Binance if you can control the urge to not execute daily trading anytime you set eyes on the crypto market). 

13. Catfish Farming

Catfish farming is profitable for anyone looking to start a business. As a pastor, this business idea fits in too. It’s capital intensive and highly lucrative. 

You don’t have to become a fish farmer overnight. Hire someone to set up the fish farm and coordinate the activities of the farm. 

When the fishes reach the maturity stage, you can sell them to make money or start up a catfish barbeque business off the produce of your fish farm. 

14. Poultry Farming 

Poultry farming is a great business idea for pastors and you don’t have to do it yourself. It’s cheap to start up and doesn’t cost much to maintain either (depending on the size of your farm). 

As a Pastor, you’ll have a lot of time to supervise your poultry farm from time to time while you focus on what God wants you to do. 

You can hire a staff to maintain and treat the Poultry just right while you focus on other things. Poultry farming also joins the list of businesses you can comfortably start from home without having to bother about accommodation (or a landed space for the business). 

15. Laundry/Dry Cleaning 

Not very many folks have the avalanche of time and strength to maintain their clothes. This is a good thing as it ushers in the need for Drycleaning and laundry services. 

Your pastoral line is compatible with this business as the majority of members patronize the services of a laundryman. You probably don’t have to do too many promos before a swarm of customers darkens the door of your laundry/dry cleaning business center. 

Obviously, you won’t get to do the task of washing and ironing yourself; it’s onerous. Hire staff or more to get things done – your responsibilities are largely supervisory, financial, and promotional. 

16. Event Equipment Rental Business 

Owning a rental service business is one of the top business ideas for pastors looking to make money while making a positive impact in their divinely fabricated gospel ministerial path. 

So how it works is you acquire equipment like chairs, musical instruments, and more than spice up and make for a great event. Next up, you list them up for lease and get paid whenever clients come around to hire them. 

Customers hire and return the equipment within a specific timeframe so they’re up for lease again. The equipment is always yours, but you earn from them. This way they become assets generating a steady flow of income. 

Whether it’s a birthday party, an academic ceremony, a wedding, a night beach party, or a matriculation ceremony – someone got paid for every hired piece of equipment in the scene. 

You can start this business yourself as a pastor, and let the Church know about it. 

The Church will mostly constitute a huge proportion of your first loyal clients regardless of the business your startup. You have leverage here. You’re trusted and it’ll be easy to scale any business you start up pretty fast. That’s Grace. 

17. E-commerce Business

E-commerce websites make a lot of money. In 2020 alone, Amazon generated a net income of 21.33 billion dollars. 

Your e-commerce website might not scratch 10% of that figure in the first few years, but having an e-commerce website is definitely a step towards building a passive income empire even as a pastor. 

Don’t look too far, your e-commerce website could be all about selling Church items like microphones, pulpits, and cords. 

If you have a knack for multiple items, then you can integrate other niche products into your e-commerce inventory. 

Starting an e-commerce website/business might cost a few hundred bucks as you’ll need to run frequent adverts or depend on a long-term content marketing strategy to build traffic, attract your target audience, and boost sales. 

18. T-shirt Designing 

Do you know you can design t-shirts for free and get paid when people buy your t-shirt designs? On platforms (and web apps) like Teespring, Amazon Merch, and RedBubble, you can create your own fashion store stuffed with your designs. 

The designs are printed on-demand which means whenever a buyer places an order for them, the company prints and sends the t-shirts. 

It doesn’t cost a dime to start doing this and you can get started right now. The more designs you have, the more chances you have at making more sales and more money. 

It takes about 5 minutes or 20 at most to design a virtual t-shirt (but it depends on the kind of design you have in mind; how well you want to design your products). 

19. Dropshipping

Dropshipping is not a new trend and it’s one of the top business ideas for pastors to make money in real-time. How it works is you create an online store, connect it to a supplier’s website, and upload product pictures (with the prices) on your store. 

Whenever someone clicks to buy, the order redirects to the supplier’s website, the supplier ships the item and you get to keep the markup profit. And yes, you don’t need to know everything about dropshipping to kickstart your side business. 

You can hire someone to build your dropshipping store, design and promote it, handle everything that has to do with the online business while you focus on other things. 

If you’re still in doubt as to how well the dropshipping business is profitable for pastors (and anyone else), then the $10 million/year dropshipping story of Alexander and Andreas will set your motivation on steroids.   

20. Book Publishing

It’s normal for pastors to publish books and cash in on imparting the world with their knowledge, experience, and revelation. But it’s a business idea not very many pastors consider. 

And you can tap into it to create an inflow of income your generation will play benefactors to. Some of the wealthiest preachers and even motivational speakers earn a fortune from the sales of books they author. 

That being said, nobody writes a book in 24 hours sitting on a comfy couch. Start by co-authoring a book or become a guest preacher/speaker for a gospel TV station/show. 

Move it up to writing and publishing leaflets, pamphlets, and gospel articles. Study hard, and build enough intellectual/spiritual momentum to write your first book. 

21. Stock Trading 

Stock trading is one of the online businesses you can get into with very little capital as a pastor. It’s risky, volatile, and works with a set of time frames. 

As the crypto market, the stock market is really volatile. You work with a number of indicators, charts, and signals to determine the direction of the market. 

The best investment, just like in crypto, is to learn the trade. Acquire the skill to trade stocks, and then you can capitalize on your experience and knowledge to maximize profits. 

Conclusion: Business Ideas for Pastors

While these business ideas for pastors listed here, won’t make you as rich as Joel Osteen or T. D. Jakes overnight, they relieve you of the stress of devising uncanny schemes to sieve funds from your Church. 

The best part is some of the business ideas on this list that cost nothing to start up can transition into passive income ventures generating thousands of dollars monthly for you as a pastor. 

In the end, it’s all about fulfilling the call of God while making enough money (passively) to push the gospel further and live a fulfilled lifestyle.

About Guest Blogger

Moses Ukanna is a certified information scientist, content creator, writer, entrepreneur, and CEO at Potent Stack Digitals. He takes delight in creating meaningful/helpful Content and believes in Quality over Quantity. 

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Buycoins Review: Easiest Way to Buy, Sell, Store & Trade Cryptocurrency in Nigeria

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Is Buycoins legit and is it the easiest crypto exchange app in Nigeria?

Maybe at a point while surfing the internet for the best apps to buy or sell your Bitcoin and other crypto assets in Nigeria, you came across Buycoins and you’re wondering if the platform is legit or scam.

And if it’s legit, how can you buy and sell easily on Buycoins?

In this blog post, I’m going to answer these questions.

Not just that, I will also show you how you can make money on Buycoins by simply doing small tasks.

If this is the first time you’re hearing the name “Buycoins”, you may want to know what the platform is all about, isn’t it? Okay, let me give you short overview about the company.

About Buycoins

Buycoins (or Buycoins.africa) is a crypto exchange platform in Nigeria where you can buy, sell, store and even trade some cryptocurrencies such as the famous Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and few others.

But Is Buycoins Legit or Scam?

Buycoins is 100% legit.

I’ve been using the platform for about 2 years and I can tell you that Buycoins is tested, and trusted.

Although before I got to know of Buycoins, I have been using Okex and Luno apps, but on getting to Buycoins, I have no choice than to fall in love with the platform.

What are the things that makes Buycoins stands out?

Pros of Buycoins: Why Should I Use Buycoins.Africa?

I’m going to make the points clear but simple. Below are the reasons why I’m using and vouching for Buycoins;

·         Clean and Easy to Navigate Website & Apps

Buycoins.Africa did a great job on the user interface (UI) and users’ experience (UX) of their products (the mobile apps and website). Everything is simple, clean and direct.

Buycoins Review

To be honest, other competitors are doing great jobs on UI/UX but the simplicity of Buycoins is on point. If you’re new to Crypto of things, you won’t get lost as the platform is self-explanatory and simple to use.

·         Easy ways of Funding Your Account

Funding your Buycoins account is very easy from day one, as you can send money from your bank account to your Buycoins generated account number (Providus).

But Remember that CBN ban banks in Nigeria against anything cryptocurrency. As a result of this ban, some exchange platforms who operates in Nigeria are faced with the issue of how their customers will be depositing funds in their account.

Fortunately, Buycoins is one of the first platforms that came with a solution. Now, you have multiple ways of funding account with Naira from your banks.

You can’t fund your account on some platform (like LUNO) till date because of that CBN ban, but that’s not the case on Buycoins.

·         Withdrawal is easy too

Just like it was easy to fund your account with Naira, you can withdraw your money in Naira on Buycoins to your Nigeria’s bank account without falling for P2P scams which frequently happen on Binance, Okex etc.

·         Customer Care Response is very Fast!

I once had issues on my account but I got them solved in the blink eyes just because of the fast customer care representative.

Till now, Kuda Bank is still ghosting me, I contacted them on Live chat, e-mail and Twitter, I’ve got no response.

Personally, I like a company who invests on their customer care team. That’s the reason I keep using JUMIA for shopping despite the frustration I’m personally facing with them.

RECOMMENDED: 5 Ways to Make Money on JUMIA

And because of fast and patient customer care support, that’s why I chose to Heroshe to ship from USA for me instead of ShopToMyDoor.

If you’re a curious person like me, and/or you want to get fast solution any issue you may face using a product or service, then you should look for a company with good and fast customer care team.

That’s why I choose Buycoins and I think you should do the same. (Click here to start)

·         The Founding Team

Well, maybe this is not necessary to you. But to me, it means a lot.

I’ve not met the founding team of Buycoins.africa face-to-face, but they’re quite famous especially on Tech twitter, Tech or Entrepreneurship News on Africa.

Timi Ajiboye, Tomiwa Lasebikan and Ire Aderinokun are the frontliner of Buycoins and other related companies. (you can google the names tho).

The founding team members are Nigerians, so they understand what we need better unlike some alien companies (other are trying too, but “Abinibi yato si Ability” – Naturality differs from Ability or artificial).

·         Ability to Trade on Buycoins

For years, we depend on using foreign platforms like Binance, Okex, Kukoin, Bitmex etc., to trade cryptocurrency.

That’s not really a problem. But the problem is “How to Easily Fund the Account”.

We know a way we use manual peer-to-peer exchange and then send to the foreign trading apps. The stress, the fees and the exuberant interface is a headache to, especially newbies.

But gladly, we can now Trade easily on Buycoins on the Buycoins Pro app.

And that’s also a milestone too. Buycoins is one of the first to Nigerian crypto’s company to achieve that. We may totally ditch the foreign apps and use Buycoins Pro to trade easily.

·         Zero Transaction Fees

If you’ve bought or made a transaction on Binance or LUNO or any other platform, you will understand what I mean. I mean the transaction fees on those apps are very high!

But on Buycoins, transactions are free!

You only pay the network fees.

I don’t need to explain too much, sign up for Buycoins and see these features yourself.

·         Reliable P2P Trading System

In cryptocurrency space, you’ll be dealing with 90% of people you don’t know if you want to buy or sell using Peer to Peer (P2P) which you can’t even escape.

While dealing with these anonymous people, you can be scammed easily. And once you’re scammed, that’s the end.

It’s unfortunate that, as big as Binance and Okex are, they haven’t curb scamming on their P2P system, which they can’t really because they can’t control the system totally (i.e. they’re decentralized).

But on Buycoins, you have nothing to worry.

Most of the buy and sell orders on Buycoins are P2P but you may not notice as everything will be taken care of, for you.

Cons of Buycoins: What are the Downsides of Buycoins?

As good as this platform is, we shouldn’t see any downside, right?

But I’m afraid to remind you that nothing is perfect in this our planet earth.

So, what are the downside of Buycoins? They are;

·         They Still Need to List Some Coins!

I don’t know the processes behind listing coins on both exchange or trading platforms. But whatever the processes are, I know they’re not easy.

Maybe that’s why there are not enough coins listed on Buycoins.

But popular coins like BTC, ETH, LTC, XRP, USD Coin and USDT are there. And recently, the likes of DOGE, Chainlink, Cardano, Stellar, Binance Coin are added.

I know as times goes on, Buycoins will have lot of listed coins like Binance.

·         Not all Nigerian Banks are supported

We have more than 20 banks in Nigeria, but you can only fund or withdraw to less than 10 banks.

Nigerian Banks available for Deposit and Withdrawal on Buycoins

  1. GT Bank
  2. Kuda Bank
  3. Access Bank
  4. FCMB
  5. ALAT (WEMA Bank)
  6. Abeg App
  7. Fidelity Bank
  8. Diamond Bank (Acquired by Diamond Bank tho)
  9. Zenith Bank

If you’re not using any of these banks, then you can’t fund or withdraw with Naira. ☹️

But the good news is that, you can easily join the Abeg App or Kuda Bank easily.

That’s it about Buycoins.

Now back to the previous question; is Buycoins the Best in Nigeria; Is it legit or scam?

Buycoins is the easiest exchange app in Nigeria, it is the best and it is 100% legit!

If by now you’re interested in using Buycoins, the next question you may want to find answers to is;

How to Get Started on Buycoins?

  1. Click here to sign up for FREE;
  2. Put a correct email address and click on “continue”;
  3. A verification link will be sent to that email address, to and verify;
  4. Login to your Buycoins account;
  5. Upgrade your account (Click on “Verify Identity”): Add Bank account, BVN and Phone Number;
  6. Set up 2-FA for security sake;
  7. You can now deposit and start using Buycoins!

Important Notice:

  • First, your BVN is safe; It’s just to verify your information.
  • Make sure you add all your bank accounts (linked with your BVN)
  • Make sure you deposit ONLY from your bank accounts added.
  • If you mistakenly deposit from any other bank, your account will be locked and you’ll need to do another verification to unlock it. Hence, add all your account numbers and only deposit from your added account numbers.
  • You can only withdraw to your added accounts number too (if available for withdrawal).
  • For easily transactions, download and use the mobile apps

I told you earlier that I will show you how to make money on Buycoins right? Let me fulfil that promise now 😉

3 Ways to Make Money on Buycoins Africa

1.      P2P Trading

You can buy coins at low price and sell at higher price on Buycoins’ P2P trading platform.

Let’s say you have N100,000 in your bank and the current BTC price is $41,000. You can buy N100k worth of BTC and quickly sell on P2P maybe when BTC hit $42k.

That’s called swing trade. You might not make big money, but you will definitely see earn few bucks

2.      Coin Lock

Aside from quickly buying and selling coins on the P2P platform, you can also earn money by locking your coins for a certain period of time.

Let’s say you’re saving in Ethereum. Instead of just stacking Ethereum like that, you can lock it and earn money.

You’ll earn 12% interest of whatever you locked.

If you locked N100k, 12% interest on it is N12,000!

3.      Buycoins’ Refer and Earn Program

This is another sure way to make money on Buycoins, all you have to do is refer your friends to join Buycoins and when do they that, you’ll be paid N1,000 for each person.

Buycoins - Referral Apps to Make Money in Nigeria

If you’re able to refer like 20 people, that’s N20,000 for you.

NOTE: Those people you referred must complete their sign up, deposit at least N5,000 and trade up to N10,000 on Buycoins before the money can be released to you.

Conclusion: Buycoins is LEGIT and the Easiest Platform in Nigeria

So that’s all about Buycoins Review and how to Easily Buy, Sell, Store and Trade Cryptocurrency in Nigeria.

If you have any question, kindly use the comment box below. Subscribe and don’t forget to share this with someone, it will take you few seconds (please do that)

This post “Buycoins Review: Easiest Way to Buy, Sell, Store & Trade Cryptocurrency in Nigeria” – appeared first on https://gbolamedia.com

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HOG Furniture Review: Trusted Online Shopping Store?

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HOG Furniture

Few weeks ago, I was trying to get a particular office chair for my workspace, then I stumbled on HOG Furniture. Just like you, I was doubting if HOG Furniture is reliable or not; as I’m pretty much familiar with the likes of Jumia and some other shopping stores in Nigeria.

Finally, I took the risked, placed an order and pay for the office chair.

But with respect to my experience in online shopping, and with HOG Furniture, is the company really the best online shopping store for furniture or homewares in Nigeria as they claimed?

I will answer that question right in this blog post.

But kindly note that this is not a sponsored post and I’m not promoting HOG Furniture. I’m just sharing what I’ve personally experienced.

Now, let’s start!

About HOG Furniture

HOG Furniture website

HOG Furniture is an online shopping store in Nigeria, primarily dedicated to home and office wares.

In simple term, the company deal with selling of stuffs like chairs, table, desk, cabinets, wardrobe, rug, carpet etc. And one more thing;

They also deal with Auctioning, cleaning and maintenance services.

Benefits of Using HOG Furniture

  • Competitive and Affordable price
  • Fast shipping
  • Fast customer care response
  • Anyone can become a vendor
  • You can refer people and earn money
  • Flexible payment options
  • 7-days refund policy (too low tho)
  • You can get discount
  • etc.

Is HOG Furniture Legit or Scam?

HOG Furniture is legit. They are in business since 2009, that’s about 12 years (as at the time of writing this blog post). They have no record of scam.

If you’ve been scammed by HOG Furniture in one way or another, kindly use the comment box below to share your story with us and we will be glad to publicize it in order to save someone outside there.

But personally, I have no issue of scam with HOG Furniture.

How to Buy Stuffs on HOG Furniture

  1. Visit their website: https://hogfurniture.com.ng/
  2. Sign up and complete your profile
  3. Search for, and add your product to Cart
  4. Proceed to Pay
  5. After payment, wait for your items to be delivered to you.

That’s pretty eazzy, isn’t it?

But I will advise you to chat with them first before you place order. Before I placed my order, I had to chat with them on WhatsApp to know the shipping process and some other questions.

ALSO READ: How to Buy and Ship from USA Store to Nigeria

Now, let’s talk about HOG Furniture if they’re really the best online shopping store for furniture in Nigeria.

Is HOG Furniture the Best Online Shopping Store in Nigeria?

Well, I can’t categorically say YES or NO. But to be honest, they’re trying.

If they’re not the best, they should be among the top 5 in homeware or furniture store in Nigeria (as you know we have the likes of popular sites like Jumia, Konga and Jiji).

But notwithstanding, below are what I experienced with HOG Furniture;

Pros of HOG Furniture

1.      Good Customer Care Support:

I ask questions a lot, especially if we’re dealing for the first time. The response rate of the support team is fast. And you have a flexible way of chatting with them, which is through “WhatsApp”.

They also follow up by calling you.

2.      Affordable Shipping Fee:

Their shipping fee is not expensive, but I won’t tell you how much they charge as the fee is not fixed, it varies with respect to how heavy your item is, and how far your location is.

SO, I’ll advise you to talk to the customer care rep to know your standing here.

3.      Fast Delivery

This is what I really like the most of all the reasons why I like HOG furniture.

Let me confess this;

Before I ordered for my office chair on HOG Furniture, I have earlier ordered for the same chair on Jumia, I waited for about 11 days for it to be delivered. Unfortunately, Jumia cancelled the order without any reason given.

I mean, after waiting for 11 days!

Well, I went to HOG Furniture, placed order for the same office chair and after 4 days, I got my chair!

4.      Large Inventory of Items

You have thousands of items available for you.

Okay, let’s me also talk about the downside which I hate;

Cons of HOG Furniture

1.      Bad Delivery Handling

This really got me annoyed.

I expected HOG Furniture to be able to handle Delivery without stressing the customer (just like how Jumia and co does).

The day when they told me the items will be delivered to me elapsed without getting the item, that doesn’t annoy as I believe maybe something happened. So, I was expecting it another day.

Then suddenly one day, a man called me, telling me to come “immediately now” for my package because he’s going out.

And I was in the middle of an important meeting when he called.

He should have informed me in the morning before he got to my place. Well, I left the meeting and rushed to pick the items and I thought 30 minutes will be okay for me to take leave and return to the meeting later.

After getting to the pickup destination, the man asked me to pay for delivery before I pick the item.

I’ve paid for everything including the delivery fee, why do I need to pay again?

I had to call HOG Furniture to sort it out.

They delayed me for more than an hour there, before HOG Furniture send the delivery money to the driver.

Imagine what I lose that day because of poor delivery handling by HOG Furniture.

They should have:

  • Inform me earlier before the delivery agent got to my place
  • They should have paid the delivery fee and not waste my time with that.

I don’t know why they can entrust package worth N85,000 to a driver and can not entrust him with just N5,000 for delivery.

HOG furniture needs to fix this!

2.      Incomplete Package

Buying an office chair from HOG Furniture was not my first-time buying office chair. And I know what must be included in the package.

Maybe it was a mistake or intentional, I didn’t receive the Manual to install the chair, L and key screwdriver to assemble and tighten the chair.

With these two important items missing, I got annoyed too.

But they later send some DIY videos to replace manual, but I have to look for the “scarce” L and Key screwdriver myself.

HOG Furniture needs to be sure they package the complete items together before sending it out for shipping.

3.      Low ratings on products

You know rating is very important, that will help you make decision judiciously. But the products on HOG Furniture website has very low rating, and that may confuse you on knowing a trusted merchant or a scammer.

Maybe this is not HOG Furniture’s fault. Most people don’t care about dropping review unless the product come short of their expectation.

BUT they should try and get ratings and reviews, it builds trust!

So, Is HOG Furniture the Best in Nigeria When it comes to Furniture?

With the personal experience I shared above, I can’t really say.

And don’t be discourage, HOG Furniture is legit and their delivery is very fast. They just annoyed me slightly with the poor delivery handling stuff.

If you want to buy any item on HOG, go ahead.

If I were to rate them, I will give them 7/10. They should work on getting better.

In the future, I will still buy item(s) from HOG Furniture and see if they’ve improved or not; by then, I’ll update this blog post with my experience.

So here you go, HOG Furniture is still one of the top 5 online stores for Furniture in Nigeria!

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