TOLETTA

I finally met with the promoters of TOLETTA within Nigeria. This is an excerpt from the interview.

TodaysNaira: Can you introduce yourself and your organisation to readers of this blog?

Memory Evergreen Enterprise: Memory Evergreen Enterprise is the promoter and registered distributor of TOLETTA within Nigeria. We are the foremost supplier company that provides stylish and effective consumer goods for African women. We are located within the heart of Lagos with a sister branch in Ibadan.

TodaysNaira: Why TOLETTA?

Memory Evergreen Enterprise: Based on earlier research we had made, we discovered that most women within Africa tend to be wary about using public and in some cases, private toilets. As a woman, I often go around with huge wads of tissue papers when using a public toilet. Due to attendant hygiene  and infection issues at these facilities, TOLETTA is the perfect product to tackle this issue. If you have used this product, you’ll observe that it’s handy and portable. A pack will suffice for a day. Inside the pack are 5 premium soft 2ply paper toilet seat covers made with 20% larger and 42% thicker tissue than other products out there. The tissues are flushable, biodegradable and safe in septic tanks (so, you don’t have to worry about destroying the environment).

TodaysNaira: Yes, i’ve used it and was amazed by the wide coverage it had over the toilet seat. It felt comfortable and reassuring knowing I didn’t have to worry about any nasty toilet infection. Why was this product created by the manufacturers?

Memory Evergreen Enterprise: Every woman dreads using the toilet (especially when it’s not your own), because you never know what’s on the toilet seat. This product is meant for women everywhere who are tired of crouching, applying strips of paper, using cheap and flimsy toilet seat covers, TOLETTA is the luxurious alternative.

TodaysNaira: Where can readers of this blog buy TOLETTA?

Memory Evergreen Enterprise:

Currently, you’ll find TOLETTA at the following stores:

• Multiker Stores @Dream Plaza, Bishop Aboyade Street, Victoria Island.
• Nova Supermarket@ Muri Okunola Street, Opposite Intercontinental Bank.
• Mega Plaza Malls@14, Idowu Martins Street, Victoria Island.
• Feedwell Spermarket@22, Old Oyo Road, Mokola.
• FoodCo Supermarket@ Aare Junction, Bodija Ibadan.
• Cran Pharmacy & Stores@ Challenge R/about, Ibadan.

TodaysNaira: For interested buyers who are not resident in Lagos or Ibadan, how can they place an order?

MemoryEvergreen Enterprise: They can send an email to: tolettainquiries@hotmail.com or join our twitter page through this link: TolettaNigeria. Joining our twitter page is a much faster means of reaching us and it enables our staff to attend to issues regarding shipping, purchase and general consumer feedbacks.

Todays Naira: So tell us, who are your target audience?

Memory Evergreen Enterprise: Women on the go, Students, Children, Eateries,  Schools, Religious Organisations, Airlines…we’re not restricting product use to a particular gender or sector. You’ll be surprised that we’ve received purchase orders from men as well. It was made for life’s sudden emergencies.

TodaysNaira: What about interested buyers outside Nigeria? Do you intend selling this brand to them?

MemoryEvergreen Enterprise: Oh yes we do. Currently, we’re in Southern Africa and we intend to reach other parts of Africa very soon. So, if you’re resident in any African country and interested in becoming our flagship product retailer or brand ambassador, please get in touch with us through the following link- TolettaNigeria.

TodaysNaira: It has been quite informative and nice meeting you and getting to know the TOLETTA brand. I wish you all the very best.

Memory Evergreen Enterprise: Thank you for having us on your blog to educate women about adopting an healthy lifestyle.

Note: Today’s Naira has been appointed by Memory Evergreen Enterprise (promoters of TOLETTA) as its’ social media platform.

Financial Advice for Women

I have not written specifically about financial matters for some time now. I have been trying to discover other forms of investment since the CBN slashed fixed deposit rates. While watching T.V last month, I came across the advert regarding “Federal Government Bond” and how possible it is for an individual investor to participate.

I decided to find out more but it took me about four weeks to locate the website responsible for disseminating information.

What is a bond?

A bond is a loan and the investor or holder of the bond is the lender. When you purchase a bond, you are lending money to a government, local government council, state government, federal agency or a corporation, known as the issuer. The government uses it to fund budget deficit, for instance, or to build roads, electric power stations, finance factories, etc. When you purchase a bond, in return the issuer promises to pay you a specified rate of interest during the life of the bond and to repay the face value of the bond (the principal) when it ‘matures’.

What is FGN Bonds?

FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria issued under the authority of DMO and listed on the Nigerian Stock Exchange. The FGN has an obligation to pay the bondholder the principal and agreed interest as they fall due. When you buy FGN bonds you are lending to the federal government for a specified period of time. The FGN bond is considered as the safest of all investments in domestic currency securities market because it is backed by the ‘full faith and credit’ of the government. They have no default risk, meaning that it is virtually certain your interest and principal will be paid as and when due. The income you earn is exempt from state and local taxes.

The Government Issues Bonds for the following reasons

• To finance government deficits in a non-inflationary and sustainable manner
• To enhance fiscal discipline and for the management of monetary policies
• To restructure the existing debt stock of short term debt to longer term obligations
• To establish a benchmark yield curve, which acts as a reference for pricing other bonds issued by other bodies
• To develop the domestic bond market on a sustainable basis
• To enhance and deepen the savings and investment opportunities.

Expatiate on Special Purpose FGN Bonds

Special Purpose FGN bonds are bonds issued to meet specific needs of the federal government. For instance, following the approval of Mr. President, special purpose bonds were issued to selected banks for settlement of N75 billion pension arrears in 2006.  Five deposit money banks participated in the private placement arrangement. In addition, in 2006 FGN floated bonds for the payment of debt owed to local contractors worth N91.7 billion. Recently, FGN indicated interest to raise funds through bonds for funding specific projects such as Methanol plant, revival of textile industry, terminal wages of workers, building of infrastructural facilities, etc.

Nature of FGN bonds

• Denomination: minimum subscription of N10,000.00 + multiple of N1,000.00 thereafter

• Yield: – Interest payment

• • Fixed interest rates: Most FGN bonds have fixed interest rates which are paid semi-annually:
  • Floating interest rates: Some FGN bonds (e.g. 3rd & 4TH tranches of the 1st FGN bonds) have floating rates of interest which fluctuates around a reference rate(NTB rates) on the basis of specified parameters
  • There are also zero-coupon bonds(not yet in issue in Nigeria) whereby both interest and principal are repaid at the final maturity date of the bond

• Tenor: Minimum of two (2) years. There are bonds with maturities of 3. 5, 7 and 10 years, in issue and for the future we may have bonds with maturities of 15, 20,30 years or more

• Default Risk: FGN bonds as a sovereign debt are the safest investment instrument. Default risk is nil. The Government always pays what is due to subscribers on the agreed date.

How do I invest in FGN Bonds?

1. Application forms can be obtained from any of the authorized dealers(PDMMs), or download from the DMO’s website

2. Complete the application forms and submit through any of the PDMMs

3. Common- price auction system is normally employed as opposed to multiple price auctions

4. Payments for the allotment are payable in full on application

5. Minimum of N10,000.00 and multiple of N1,000 thereafter

6. Investors can also access the FGN bonds after the auction through the secondary market

7. FGN bonds purchase is confirmed by registration in the depository (CSCS) or by issue of certificates

8. Interest is paid semi-annually until the maturity date when the principal amount is repaid

9. Payment of interest is through issue of interest warrant(cheque) or direct transfer to current or savings bank accounts

10. Bondholders who do not want to hold the bonds until maturity date can sell them at any time on the floors of Nigerian Stock Exchange or Over the Counter (OTC), through, any of the PDMMs

Why should I invest in these Bonds?

Retirement

Starting or expanding a business

Settlement after apprenticeship

Pay children school fees in future(e.g for University education)

Building a house

Future projects by town unions, associations, student union

To fund future social events such as Marriages and weddings, etc

Settlement of pension insurance obligation( for Corporate Fund Managers), etc

For further information, you can visit the ‘Debt Management Office‘ through this link.