Last week, I featured a story of James, a furniture maker in Benin City, whose investment of N10,000 in First Bank shares, made him a millionaire. As a result, my phone has been bombarded with questions ranging from how to invest, which stock to buy, about stockbroking firm etc.
However, among these numerous sms and calls that I received during the week, there was one that is very interesting, which I believe will also benefit the readers of this forum. It is the one that came from Mr. Osasogie Imuwahen.
First, I received a text message with the following message: Thank you for your inspiring story of James the furniture maker. I have also benefitted from investing in shares. I will call you to share my experience with you. Perhaps you could share it with other readers of your column. Thanks. Mr. Osasogie Imuwahen.
In the evening that same day, he called and we discussed. He shared his experience on how he retired in 2007 from public service, with over N17 million in his account. Courtesy of 1,000 units of First Bank shares, which he bought in 1973 with just N500. The reason is that the 1,000 units he bought in 1973 has increased to over 300,000 units. This is as a result of bonus issue declared by the Bank over the years.
Today, Mr. Osasogie Imuwahen is a businessman, selling cement in Benin City. This is a business he started immediately after retirement with the money he realised from his First Bank shares he bought with N500.
This goes to show that the capital market is a place where wealth is used for the creation of greater wealth. The capital market is the engine of growth of any nation. The growth of the capital market in any economy determines the growth of the nation. When you know the secrets to making money in shares, success becomes very simple. The capital market is a good avenue for people who are looking for alternative sources of making money and the knowledge of the market and its wealth building power are still very low in this country.
As I always advise on this forum, the best time to invest in the capital market is now, because the market is bearish at the moment and prices of some stocks are below their earning potentials. Do not let the prices that are falling stop you from investing. If you buy stock at N2 today, it will definitely be more than that 5 to 10 years time. Remember, Mr Osasogie bought First Bank shares at 5k. What is the price today?
One of the good things that will happen to the wise people in this generation is that they will retire richer and better than any other generation in history. Nigeria is still a developing economy with great potentials to be among the top developed nations in the world.
The capital market has performed creditably well far above other financial institutions all over the world and most especially in Nigeria . The stock market has turned several people into millionaires since inception, like Mr. Osasogie Imuwahen. You too can be the same.
There are several benefits of investing in shares. They include: dividends, Bonus issues, right issues, capital appreciation, liquidity, savings and Asset ownership. It can even be used as collateral to obtain loan from banks and other financial institutions, and you can transfer your shares to your children by nominal transfer.
It is unfortunate that most people don’t bother to save for the rainy day like I always say in this forum. Any man or woman who wants to attain financial freedom must engage in three activities with passion: working, saving and investing. The day you discover these three activities is the day you liberate yourself from financial slavery and poverty.
You can plan to retire a millionnaire by investing in shares today. Today, Mr. Osasogie Imuwahen and his family are living comfortably whether government pays pension or not. This is because, thirty-five years ago, he planned ahead for his retirement by investing in shares. What about you. Yes! You that is reading this story. How do you want your retirement to be like? Are you putting your hope on the pension and gratuity that the government will pay you? If you want to be like Mr. Osasogie Imuwahen, the time to start is now.
Having the knowledge of the capital market and actively participating in it makes you retire richer and better than expected. The capital market breeds’ millionaires and multi-millionaires every now and then and it is an investment that is open to everybody: the rich and the poor, the literates and the illiterates.
Do you have any question concerning investment, how you can join investment club, buying shares, dividend, share certificate, stockbrokers, registrars, you want answers to? Send your questions via text to or call 08058767059. Email: amadasunese@nigerianobservernews.com. All questions will be treated comprehensively on this page.
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