What is the Theory of Money? Money is a sentient life form pretending to be a lifeless light-weight so it influences unsuspecting human minds, shapes their society, and in turn our economy.
It has dictated policies and politics just by the sheer act of being seen as harmless, and thus a lot of people fail to see the great influence or the hold it has on things. Only a few have been able to decipher this illusion and use it to their own advantage. It’s called the Theory of Money.
And so they create the theory of money that centers on not falling prey to money and being used by money but using the money to do whatever you want.
Why work for money when it’s you that should use it to work for you? These elite minds ask themselves. Why be enslaved by money?
There are so many ways money enslaves people unbeknownst to them, and these come due to the fact that they consider money too precious, too valueless, or timeless.
These reasons ultimately make people fall into many pitfalls or make mistakes when it comes to money. They find themselves either spending too much, afraid to spend, or just saving beyond when they should.
Here’s the thing, too much of everything is bad. Just because you don’t want to make mistakes in spending doesn’t mean you shouldn’t spend. And just because you can spend, doesn’t give the cause to spend beyond.
Likewise, the fact that, because you feel there is a need to save money, does not give you the power to hold money captive beyond its sentence.
Making a saving is like holding something captive, imprisoned for a specific time period. When that time elapses, you as the warden need to free it so it can go on to do other things, and be useful to you and your investment.
Money depreciates, as much as it appreciates. The value of money 5 years back is no longer the value it is now judging by inflation and economy gross.
5 years ago, there was a long way the salary of 100,000 nairas can take you but flash forward to current-day Nigeria, that money is the equivalent of what a 10,000 naira can get you back then.
So imagine, you saved a number of 100,000 naira up till this moment, the total of what you save would and cannot be compared to what that total can afford you 5 years ago.
Let’s say, you were lucky to amass 5.2 million naira in a cumulative sum of the money you saved from those 5 years, currently, the value of the 5.2 million is the equivalent of the 1 million naira from 5 years back.
In essence, the idea is, money has a time limit, it isn’t timeless or lifeless like a lot of people may feel, and hence, the sooner you make use of your savings for something much more profitable in the current time frame, the better worth your money becomes.
So, how do you use money without being used by money?
Do not ‘Spend’ what you make
The catch is, to spend less than you make so as to keep in your account something to fall back on at the appropriate time.
Or in more plain terms, keep half of what you earn for something rather more productive that will ultimately increase your value.
The thing is, people, find the idea of money too thrilling, thus when they see it, they become too excited to spend it. That excitement is the hold that light-weighted sentient being has on you.
You don’t have to spend it if you don’t ‘need’ to.
Use what you earn to get double what you earn
It’s basically what was said in the first point.
Rather than let your money diminish on spending or sitting out its value, the key is to generate an idea that multiplies a quarter of let’s say, a 50,000 naira salary/wage to get something that carves out that very sum or more.
It’s in the definition of the term, ‘letting’ money work for you than you work for it. You can carve out an alternate means to generate more income, or look for investments that generate more income.
Acknowledge the emergencies
As much as you want to save a lot of money for something productive, you may want to take note that nothing is always as it seems and that sometimes, something may just pop up to ruin that great plan of yours.
It could be a health crisis, security crisis, or just poor investment decisions or whatever could rear its ugly head as an accident and may ultimately need an emergency response.
Knowing this, you will be sure to keep in your thoughts, proactive measures to tackle challenges that will ultimately work to your advantage rather than take you 20 steps backward.
Along with saving money for rainy day, you consider how much that could cost you in terms of unexpected expenditure.
How would you leverage the theory of Money to your advantage?
The Reason Nigeria’s Central Bank is debiting Banks
“For failing to satisfy the required minimum cash reserve ratio, 15 banks have been debited 838.32 billion by Nigeria’s central bank.”
For failing to satisfy the required minimum cash reserve ratio, 15 banks have been debited 838.32 billion by Nigeria’s central bank.
First Bank, Zenith Bank, Access Bank, Union Bank, United Bank for Africa, Polaris Bank, and Keystone Bank are a few of the banks that are impacted.
In an effort to stop inflation and currency devaluation in the nation, the Central Bank of Nigeria (CBN) declared in September that the CRR will be raised to 32.5%.
As a result of 15 banks failing to satisfy the required minimum cash reserve ratio (CRR) standard, the Central Bank of Nigeria has debited them 838.32 billion.
Zenith Bank (270 billion dollars), Access Bank (205 billion), United Bank for Africa (134 billion dollars), FCMB (90 billion dollars), First Bank (33 billion dollars), Union Bank (29 billion dollars), Keystone Bank (14 billion dollars), Titan Bank (11.6 billion dollars), Polaris Bank (10 billion dollars), Nova (5.5 billion dollars), Unity Bank (one billion dollars), Heritage Bank (470 million dollars), FBN Microfinance Bank (460 million dollars), and Suntrust Bank (92 million dollars) are among the affected banks.
The amount of customer deposits that must be held with the Central Bank is known as the CRR. Commercial banks are required to deposit 325 for every 1,000 that their customers deposit at the present rate of 32.5%.
Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), said at a meeting of the monetary policy committee in September 2022 that the bank was increasing its CRR from 27.5% to 32.5% as part of its efforts to control rising inflation in the nation.
The benchmark interest rate was also hiked by the CBN to 15.5% in addition to the CRR.
He said that failing banks would be prohibited from using the foreign currency market until they comply with the new rule. The CBN Governor added that one of the causes of the rising inflation rate and currency depreciation was the economy’s increased liquidity.
An effective way to control the flow of money through an economy is to raise the CRR. It has an impact on banks’ access to capital as well as their capacity to extend loans. Additionally, banks’ interest rates can rise as a result of this.
It also guarantees that banks will have a sizeable reserve to fall back on if clients demand their money.
Africa’s GDP at 35% risk to Climate Change
“The president and chief executive officer (CEO) of the Africa Finance Corporation (AFC) stated during a panel discussion at the Reuters Impact climate conference on October 3rd in London that the continent’s gross domestic product (GDP) is at danger by up to 35% due to climate concerns.”
The president and chief executive officer (CEO) of the Africa Finance Corporation (AFC) stated during a panel discussion at the Reuters Impact climate conference on October 3rd in London that the continent’s gross domestic product (GDP) is at danger by up to 35% due to climate concerns.
He asserts that the number will continue to rise as long as Africa lacks climate change-resistant infrastructure.
The AFC, according to Zubairu, thinks that Africa has a chance to seize the moment and develop ecosystems of adaptation because of the difficulties associated with the energy transition, the energy crisis, and the food crisis that Africa and the rest of the world are experiencing.
Africa must create ecosystems that enable reforestation so that trees may absorb carbon and provide women with access to cleaner cooking options because the use of firewood as a cooking fuel depletes the forests, which serve as carbon sinks. Only 1% of the world’s finest solar resources are used, even though 60% of them are in Africa. The underdeveloped hydropower and natural gas resources of Africa could be a major factor in the current global difficulties, according to Zubairu’s statement.
To achieve a just energy transition, Zubairu stressed to the guests of the Reuters Impact conference the importance of dependable access that is affordable for the great majority of people.
In addition, he pointed out that up to 900 million Africans lack access to clean cooking, making up 80% of the world’s population without access to power.
“Just transition for us is access to energy that is affordable, energy access that does not compromise economic development in Africa, and energy access that allows for the key challenges around financing, and adaptation to be resolved at the same time as economic development.
“When we look at projects and opportunities, we are trying to see how we can build an ecosystem along value chains that allow for carbon neutrality as we go along but the focus is on economic development,” Zubairu says.
Numerous parties have urged to cast doubt on the philosophy underlying the Global North’s advice to Africa not to exploit its natural gas resources. Zubairu contends that asking individuals to stop using gas while imports of fuel oil or the use of coal are options is inappropriate. He claims that the AFC built Cape Verde’s first wind farm, which provides 20% of the island’s energy needs.
The company is also constructing the first independent power project (IPP) in Djibouti to replace fuel imported from Ethiopia, a gas-fired plant in Ghana to replace fuel imported in the form of fuel oil and diesel, as well as a gas plant in Senegal to use Senegalese natural gas. He claims that each of these initiatives lowers carbon emissions.
Zubairu urges Africans to be practical in his appeal for a consensus between the continent’s political and commercial elites to address the continent’s current energy poverty concerns.
He claimed that focusing on emissions reductions, to which Africans contribute the least, is not the most sensible course of action. Instead, emphasis should be placed on increasing capacity for solar energy, using electric vehicles, and altering how resources are extracted from the continent.
He claims that after mining, the minerals are sold to Asia, where they are processed before being exported to other regions of the world. He claimed that this could not go on and that Africa needed to process its mineral resources as well so that value could be captured before exports and that it could increase its mining capability.
Africa has to increase its mining capability, more minerals should be found, mined, and processed on the continent, according to Zubairu. Infrastructure capacity will rise with increased investments in adaptation.
Sudanese philanthropist Mo Ibrahim spoke forcefully for energy justice during the same panel discussion. He explained to the audience that a country’s carbon emissions increase with its level of development.
“You cannot discuss environmental justice without addressing energy justice,” he asserts.
Despite being the lowest contributors to CO2 emissions, Africans are the ones most impacted by climate change. Desertification causes disputes between farmers and herders throughout Africa; these conflicts are distinguished by violence in Sudan and Nigeria due to environmental implications.
Africans are suffering as a result of external causes which Zubairu says he finds absurd that some people traveled to Glasgow last year and made the decision to stop funding worldwide fossil fuel projects. 600 million people in Africa lack access to electricity.
On the continent, there would be no jobs, no healthcare, and no education. Without regard for what the global South needs, the global North constantly discusses and makes decisions.
We are not allowed to use our gas, even though Europe receives half of the natural gas produced in Africa. This type of injustice must end; without Africans’ participation at the table, no one should discuss justice, he alleges.
Heineken Invites Graduates for Finance Mgt Program in Cairo
“Graduates are invited to apply for Heineken’s Finance Management Trainee Program in Cairo.”
Graduates are invited to apply for Heineken’s Finance Management Trainee Program in Cairo.
The Heineken Finance Management Trainee Program is now taking applications, and young graduates who are eager and ambitious are encouraged to apply. Graduates will have a variety of professional opportunities as a result.
The program is designed to provide you early responsibility and enable you to get started right away. Additionally, a portion of your time will be dedicated to job-specific training to ensure that you have the skills you need as an employee for our organization.
Graduates of the trainee program will have the opportunity to receive regular feedback as well as training from knowledgeable coaches.
The program going by its details takes place in Cairo, Egypt; the North section of Africa and its basically centered on those in the Finance field with a Bachelor’s degree qualification. The program is intended to run for 2 years with the application date closing 30th November 2022.
The Heineken scheme covers people of different nationalities.
Rotations among the Finance department’s duties are part of the Management Trainee Program. To guarantee that the joiners have access to a variety of learning and development opportunities, you will be given a specific assignment for each role.
To apply, click here
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