October 1 – The Movie Review


Hello Ladies, how has the week been so far? Mine has been quite eventful. Over the weekend (Sunday to be precise), I attended the premiere of October 1 at Eko Hotel. The Urb and I had enough time to view all the movie props used in the movie. I fell in love with the green Mercedes Benz….it was such a cool vintage car.

The event kicked off at 7.05p.m with Olisa Adibua as the M.C for the night.

Back to the movie. It was simply fantastic in terms of the storyline and delivery by the protagonists. The movie was shot in Ilara Mokin, Ondo State and Lagos respectively. I can’t spill the beans but it’s gripping as the events unfold which finally led to a revelation of pre independence issues affecting a small community. If you’ve travelled along the South Western and Eastern parts of Nigeria, you’ll observe that Nigeria has got beautiful scenery especially within rural towns. One of my favorite past time is exploring rural villages, stopping to speak with the farmers and purchasing their produce. My favorite route used to be Gbongan – Oshogbo; Iwo – Ogbomosho and Ibadan – Abeokuta via Apata, Ibadan. It’s a fantastic experience for anyone who’s had the opportunity of touring this great country. Your perspective on a lot of things will change.

October 1 is a dark psychological thriller film written by Tunde Babalola, produced and directed by Kunle Afolayan. It stars Sadiq Daba, Kehinde Bankole, Bimbo Manuel, Kanayo O. Kanayo, Fabian Adeoye Lojede, DavidBailie, Nick Rhys, and introducing Demola Adedoyin and Deola Sagoe. The film narrates the story of Danladi Waziri (Sadiq Daba), a police officer from Northern Nigeria who is posted to a remote town of Akote in Western Nigeria to investigate the frequent female murder cases in the community and have the mystery solved before the Nigerian flag is raised on October 1, Nigeria’s Independence Day.

Just like ‘The Figurine’, this movie is a piece of art and Kunle Afolayan has raised the bar once more. My star character in the movie was ‘Afonja’ as he made us laugh with his facial expressions without really saying a lot. Learnt it’s showing at most cinema outlets within the country tomorrow. Kindly take out time to see it.


Happy Independence Day Nigeria!!!

Image Source: October 1 movie facebook page

Update on M’s Texlax


If you’ve read previous post on M’s Texlax update, then you might have been wondering about her progress recently. She sent me this recent update on her progress early this month and I still remember how she squealed “I made arm pit length”. Congrats to M and consistency is the name of the game ladies.

Have a fabulous weekend!


Hello Peeps. So sorry I’ve not posted for sometime now. I’ve been extremely busy.  Do I sound corny? If I do, accept my apologies. I’m tying the nuptial knot next month and I am in the process of rounding up my MBA studies. I recently received my final exam result yesterday and it was an astounding A.

Congratulations are in order if I may say, cos I worked so hard to read and proffer solutions for the case study ( which was centered around an Italian global Ice Cream chain). I am so proud of myself for achieving this milestone. Now, I only have my dissertation to tackle. I have also been trying to expand my business across the Nigerian border. We recently received a purchase order from Botswana and it’s been an uphill task creating awareness. Do I enjoy what i’m doing? Absolutely…every minute of it.

So, do bear with me and i’ll be back soon.

What is your biggest Naira spend?

I am a lover of lingerie. The colorful, the merrier…often times, I indulge in an unbridled shopping spree. For me, this is my biggest Naira spend since I dedicate between $400 – $600 on an annual basis for this specialty item. Why lingerie, you may ask? I don’t know but I guess I’ve always loved clean, sexy underwear. I remember an article I read when I was young, discussing the importance of good dressing starting from beneath. Imagine if you have to be in the hospital for one reason or the other, how embarrased will you be when all of a sudden, as you’re about to take off your clothes or otherwise, you suddenly remember the awful, torn and worn pair of underwear you have on.

That article made quite an impression on me as a young girl and since then, I’ve ensured that no matter how small, I always set aside a special lingerie fund. Don’t think I haven’t received lots of flak for this cos my close friends and sisters think i’m actually crazy to spend such amounts on a pair of bra, panties, bustiers and corsets that no one gets to see on a regular basis. Hey, a girl has got to have fun and putting on a great pair of lingerie is soul therapy for me. How bad is this? I don’t know but from my own viewpoint, what is the point of putting on gorgeous clothes when you have on hideous underwear beneath? It’s completely outrageous. Oftentimes, when i’m on vacation, I have forgone a dress or a lovely pair of shoes just to buy lingerie. I’ve had several arguments about this issue but i’m not budging on the importance of good hygiene which starts from a pair of great looking lingerie.

My second biggest spend would have to be Sleepwear cos I think it’s always nice to dress up when you’re going to bed. I’m a lover of La Senza, Women’s Secrets, Vanity Fair, M&S, Bendon Lingerie, Woolworth, Intimissimi, Ann Summers and a whole lot of other great stores out there. For me, I do not compromise on quality so I can be sure that what I buy will last for ages. While considering this in terms of the recent global recession, i’ve decided to reduce my lingerie budget to $250 maximum so I can focus on other greater priorities I’ve got ahead of me in 2009. In the coming year, we have got to be realistic about how much to spend and what is actually available so that we do not end up buying more than we can chew. So, what is your biggest Naira spend?

When kids become parents?

A few years back, I remember watching an ad by a non-governmental organization in the United Kingdom campaigning against child abuse. The ad was a role reversal depicting kids shouting and screaming at their parents to buckle up, be more intelligent, acquire social skills and all kinds of other things adults harass their children about. It was an eye opener for me. So why did I suddenly remember this campaign five years down the line?

If you haven’t noticed or been properly observant, our kids have become brats overnight. The transformation has been so rapid with the whole world becoming a global village that when I tell my nephews to be quiet, they actually tell their aunt to go into her room if she desires a bit of quietness. Whatever happened to respecting old age?

In my part of the world, old age is respected – you dare not meet an elderly person in the morning without your two knees touching the bare floor in greeting. Today’s kids will either say hi, hello or offer to shake your hands instead of kneeling down. To what do we attribute this? Gone are the days when the Nigerian man’s monthly income was enough for the entire family and the wife had to be a stay at home domestic engineer. Now more women are entering the workforce and earning as much as their men, while some women have become the breadwinners in their respective homes. To compensate from being absent at home and to ensure good behaviour, a lot of parents are spoiling their children by buying them the latest ipods, playstation III, latest shoes, clothes, expensive perfumes, mobile phones and stuffing them with too much fast food. Take a look at the newly wedded couple on your street and observe the kind of unending shopping sprees couples throw themselves into once the wife is pregnant. Too often they end up buying items that the unborn child may never use or wear. Have you considered what happens to a kid from a low or middle-income family who comes home from school demanding that the parents buy him or her the latest school bag or shoes due to what his peers are wearing?

So I ask myself do we still care about good manners or have we simply lost it? We’re gradually raising kids, who always get what they never asked for and kids, who spend too much time in front of the television and who’re socially backward. Like an article puts it “the primitive instinct to protect kids from anything negative has turned to something more sinister, a cocooning which results in them being completely ill-equipped to cope with the world outside their own home”. However, can you blame them if no one has ever said “no” to them?  

Make your kid a millionaire

You may not have the cash right now, but you’ve got plenty of time if taxes, fees, mistakes — or the child — don’t steal your thunder.

I stumbled upon this article by Liz Pulliam Weston while checking my hotmail account. After reviewing this article, I decided to post for readers on my web log who’re about to or already have kids.

Call it the ultimate Christmas gift for your child: a cool N1 million.

It’s a lavish gift, but not a prohibitively expensive one. A monthly contribution smaller than your current cable TV bill, made faithfully until the child turns 18 and then left to simmer until retirement, will hit seven figures without outlandish investment choices.

A newborn has nothing but time — and that’s something this strategy exploits to the fullest. Let’s say a 30-year-old manages to save up and then invest a lump sum of N100,000. At an annual return of 8%, by the time she’s 65, that N100,000 will have grown to nearly N2,800,000. Not bad, right?

But then compare it to what a 5-year-old could make from the same N100,000. The extra 25 years of growth would give him over N4,800,000 by age 65. A newborn would end up with N5,200,000.

If you don’t happen to have N100,000 handy, not to worry. You can get the same results with a monthly investment, made even smaller if you can persuade your child to keep the contributions up over the long haul.

Take a look at what’s possible in the table below. All the examples presume 8% average annual growth, a reasonable return from a diversified mix of stocks, mutual funds and cash.

To accumulate N1 million by age 65:

Starting at:

One-time contribution

Monthly contribution until age 18

Money at age 65





Age 5




Age 10




Age 15








Pretty neat, huh? I’ve heard from quite a few parents excited about the possibilities. Many believe their own financial futures were stunted by not investing early enough, and want their children to avoid the same mistake.

But there’s a downside. While time can help the young grow a fortune, it can also magnify any investing mistakes made along the way. If that 5-year-old’s account is traded excessively, charged high fees or invested too conservatively, the nest egg may be dramatically smaller.

If our youngster eked out only a 6% annual return over time, for example, his account would be worth just N3,900,000 at retirement age.

Furthermore, your kid’s wealth accumulation plan could cause havoc with future financial-aid packages, so you’ll want to know how to minimize the impact.

Who’s a good candidate?

As nifty as the math is, you shouldn’t start building your children’s fortune until your own financial path is secure. That means all of the following are true:

  • You’re on track saving for your own retirement. No matter how much you want to secure your child’s financial future, you must attend to your own first. (Your kid won’t thank you for your largesse if she winds up using it to support you in your dotage.)
  • You have no consumer debt. Again, you want to be on sound financial footing yourself before helping your kids, and that means paying off the credit card balances, unsecured personal loans and any other high-rate debt.
  • You’re saving for college. That futureN1 million won’t mean much if your kid doesn’t get a good education or winds up saddled with massive financial student loan debt.
  • You’re willing to spend some time educating your children about money. For the million-naira plan to succeed, your children have to understand the importance of keeping their mitts off the money so it can grow. They need to know that every N1,000 they withdraw at age 21 will cost them nearly N30,000 in future retirement money — plus any taxes and penalties that may be owed for tapping the money early.

If you’ve got your financial bases covered, then you can proceed.

What about taxes?

Lots of expensive financial products are sold to people who panic unnecessarily about the effects of taxes on their investments. While it’s true that taxes over time can reduce your investment returns, they’re easy enough to minimize without paying a small fortune in fees to stockbrokers or insurance companies.

What tends to generate big tax bills is excessive trading, either by professional mutual fund managers who take a so-called “active” approach to investing or by the parent or grandparent managing the account.

Also, with a broad-based stock market fund, you’re pretty much guaranteed to do at least as well as the overall stock market. Compare that to the two-thirds or so of actively managed funds that fail to beat their indexes over time, and you’ll see that index funds are a pretty good choice.

A big drawback: These funds, like most mutual funds, have pretty hefty minimum investment requirements that can be problematic for folks investing small amounts. IBTC’s ethical funds/mutual funds require a N50,000 minimum purchase; Fidelity Coral, UBA & other discount houses offer similar packages.

Additional account fees may be charged if your balances are below certain amounts.

Other options: buying and holding individual stocks or exchange-traded funds (ETFs). ETFs, like index funds, are bundles of investments meant to mimic a benchmark, but unlike funds — which are traded once a day — ETFs trade like stocks throughout the day.

Buying ETFs and stocks through a brokerage can get pretty expensive, though; trading fees will eat up a good chunk of your monthly investment. A cheaper alternative: invest in individual stock holdings for the long-term..

Yet another possibility: buying shares directly from the companies, avoiding commissions. Minimum purchase requirements and fees, though, vary widely by company.

What bucket to use

Here’s an issue that actually is important: minors generally aren’t allowed to hold investments in their own names. But each alternative has its cons as well as its pros. For example:

I usually suggest that parents should buy the stocks in the child’s name. At maturity, the stocks can be transferred to the child who assumes control of the account.

A joint savings account. These are pretty easy to set up, but may have tax issues. The same kiddie tax rules apply: If the account earns your kid more than a certain amount (check with your local bank), withholding taxes must be paid at your rate. Also, the account is considered jointly owned for college financial aid purposes, so half of it (your kid’s half) will count heavily against you.

Life insurance. Bleah. Kids don’t need life insurance, and your money will go a lot farther if you’re not paying for insurance you don’t need, plus commissions and an insurance company’s overhead.

Making sure they don’t blow it

What if you’re worried about your child raiding the money prematurely? Your control is limited with all but one of these options: holding the investments in your own name. Otherwise, at some point — certainly by age 25, if not before — your kid will have access.

If that unnerves you, you can either opt to keep the funds in your own account or spend a substantial wad on elaborate trusts designed to dole the money out over time.

But bear in mind that your children’s future fortune will be worth less than N500,000 at age 18. The real growth will come over the following decades. While prematurely raiding their cache might prevent them from achieving the million-naira kitty you want them to have, it’s not like they’d be able to spend seven figures on a car or decorating their dorm rooms.

Pre-marital issues to deal with before tying the knot.

When I attend family social gatherings, it provides an opportunity for my uncles and aunts to question my unmarried state. You would likely think I have the plague from their reactions ranging from shock to outright disapproval. I have had different members of my family matchmaking me with various eligible suitors as they say. However, nobody has actually taken out time to ask me why I’m not yet married.


I clocked thirty this year and every morning I wake up, I am happy I made the right decision to postpone marriage. I got my first job at the age of 27years and right now my net worth is inching closer towards the N6mn mark. I realize now how lucky I am because I have been able to achieve this within 2years and five months. If I had gotten married much earlier (right after graduation), I would be struggling financially. Based on my calculation, by retirement, I will have N32mn socked away in stocks and mutual funds.


I decided to wait this long to secure my future and that of my unborn children. Currently, I earn more than $1,000 monthly and I invest 90% of this amount in stocks. I am a long term investor. This half year, I have decided to invest in IBTC ethical funds rolling over the dividend income for 15years. I will be 45years then getting ready to retire. So I have between now and retirement a total of 15years to secure my future bearing in mind the following factors that will aid me: promotions with current workplace which will have a direct bearing on my monthly salary, other benefits/perks and possible job movements.


One of the issues I have raised with my intending spouse to be is the issue of finances. I have realized money is a thorny issue among couples. To avoid conflict during marriage, it is better to iron out any issues we may have regarding our finances.

Based on our backgrounds, we possess different attitudes towards money due to what we learnt from our parents.

If our parents imbibed financial indiscipline, then it is possible that our personal financial struggle will be at par with our parents.


To avoid this, the first thing I did was to share and communicate my goals for financial freedom which are: early retirement, opportunity to travel and see the world (ongoing), financial ability to give my unborn children access to quality and affordable education (intend to offer partial support towards my children’s education at international top rated management schools, if they choose to go); early retirement will afford me the opportunity to pursue other interests such as photography, pottery and jeweler designing.


Secondly, we have also discussed on the number of children we intend to have. We have decided on two (actually I decided on two, he wants four – I had to use my persuasive and negotiating skills as a marketer to sell the benefits of having two children). Benefits such as quality education, opportunity to travel together, provide an inheritance for our unborn children e.t.c. the list is endless. The UNDP released a report indicating that 60% of Nigerians were living under $1 on a daily basis. I think it is selfish for couples to have children that cannot adequately cater for.


Thirdly, the neighborhood we intend to live in as a couple. When a man allows a woman to choose the house and neighborhood both couples will live in after marriage, there won’t be a need for complaints. I remember when my sister got married, her husband had paid for the house and today she complains about the distance of the local market to the house which is a negative. Our neighborhood choices range from Anthony Village to Magodo.


Adoption- I intend to adopt a child as a way of providing love and security for an abandoned child. This I have discussed fully with my spouse and he totally agrees with me.

We intend to keep our extended family out of our martial affairs to focus on providing a solid and secure future for our children and ourselves. The less they know about our finances, the better for us. We also intend to strictly abide by our budgetary plans.