Banking

Why Your Bank Balance Is Not the Same as Your Wealth

Felix Komuo Sep 10, 2026, 9:47 PM Sep 10, 2026, 10:18 PM

Having a large amount of money in your bank account can make you feel financially successful, but your bank balance is only one part of your financial picture. Wealth also depends on what you own, what you owe, how much you earn, how much you keep and whether your assets can support your future. This article explains the difference between income, cash, assets, debt and net worth, with practical Nigerian examples.

Personal Finance

How Many Bank Accounts Should You Have in Nigeria?

Felix Komuo Sep 9, 2026, 10:10 PM Sep 9, 2026, 10:23 PM

There is no single number of bank accounts everyone in Nigeria should have. One account may be enough for someone...

Banking

How Bank Transfers Work in Nigeria: NIP, USSD, Mobile Banking and What Happens When a Transfer Fails

Felix Komuo Sep 9, 2026, 4:54 PM Sep 9, 2026, 5:08 PM

Bank transfers have become one of the most common ways Nigerians send and receive money, but many people do not...

Banking

How to Get a Bank Statement in Nigeria and What It Is Used For

Felix Komuo Sep 8, 2026, 5:05 AM Sep 8, 2026, 7:46 AM

A bank statement is a record of transactions and activity on a bank account over a specific period. It can...

Investing

What Is a Fixed Deposit and How Does It Work in Nigeria?

Felix Komuo Sep 3, 2026, 6:54 PM Sep 3, 2026, 7:22 PM

A fixed deposit is a deposit arrangement where you place money with a financial institution for an agreed period in...

Banking

How to Avoid Unnecessary Bank Charges in Nigeria

Felix Komuo Aug 31, 2026, 7:51 AM Aug 31, 2026, 8:00 AM

Bank charges can quietly reduce your money over time. Learn how to identify unnecessary fees, reduce avoidable costs, check current CBN rules and challenge unexplained charges.

Banking

Savings Account vs Fixed Deposit: Which Is Better?

Felix Komuo Aug 31, 2026, 7:29 AM Aug 31, 2026, 7:41 AM

A savings account and fixed deposit serve different purposes. This guide explains accessibility, interest, emergency savings, early withdrawal, NDIC deposit...