As part of Global Money Week, the Managing Director, Ecobank Nigeria, Mr. Jibril Aku, taught students of Government Secondary School, Lugbe, Abuja, that one of the best ways to grow money is making investments.
Aku, who gave this advice while lecturing on the topic “Growing Your Money,” described investment as something that is purchased with money and expected to produce income or profit. He said investing money reduces risk of theft, spending and gives chance for the money to grow. “Generally, investments are broadly divided into ownership (equities) and lending (debt). The higher the risk involved, the higher the return and interest rate; the longer the period of investment, the higher the interest rate,” he said.
The Ecobank boss also took the students through investing in real estate, precious objects, bonds, and mutual funds. He said, “Just like you eat good food and take vitamins to protect your body from sickness and allow you grow, you need to protect your money and investments in a similar way by getting insurance.”
He explained that “Stocks are securities that allow you become a part-owner of the company whose stocks you purchase. Examples of stocks are shares. When you buy the shares of a company, you are given a share certificate and entitled to dividends only if the company makes a profit.”