MoneybyZikoko: What’s the Cost of Infertility?

Volume 81

Good morning,

It’s May 20, 2024, AKA “the day the Central Bank of Nigeria planned to kick off the application of a cybersecurity levy on electronic transactions.” If you’re wondering why this is in the past tense, it’s because the CBN has officially cancelled this plan.

The proposed 0.5% cybersecurity levy was set to significantly impact electronic transactions: ₦5 would be charged on every ₦1,000 transacted via electronic channels. This meant that a ₦1,000,000 transfer would incur a ₦5,000 fee on top of existing charges like stamp duties and SMS charges. The effect of these charges would have made electronic transactions more expensive.

Naturally, this plan was met with ire from Nigerians. Labour groups even stepped in, putting pressure on the Federal Government to stop this plan. The efforts landed as the FG suspended the levy. Now, it’s confirmed it won’t be happening anymore.

Now that this whole business is done, Nigerians expect the CBN to focus on [more] pertinent issues, like the inflation rate. Speaking of, the Monetary Policy Committee (MPC) will meet today and tomorrow for the first time since March. As usual, a major issue on their agenda is figuring out ways to curb rising inflation. Fingers crossed on what happens.

It’s time to look at this week’s stories.

In this letter:

#NairaLife:What Does Navigating Infertility for Over a Decade Look Like?
“I Spent ₦25k on Asun” — Nigerians on Their Most Expensive Splurge at a Local Food Joint
#ZikokoMoneyVideo: What’s Something You Never Want to Spend Money on Again?
QUIZ: How Many People Owe You Money?
Where The Money At?!

#NairaLife: What Does Navigating Infertility for Over a Decade Look Like?

Infertility is many things, and “expensive” is one of them. This 35-year-old has been trying to conceive for 13 years, and her journey has changed her perspectives in more ways than one.

This is her #NairaLife.

Aunty M is coming next week

We’ve talked about this column for a minute, and I’m excited to share that we’ll kick things off next week. I imagine you’re wondering who will answer your questions about your money, work and career dilemmas.

Fair enough. Allow me to introduce Reni Odetoyinbo.

Reni is a content creator and finance educator. On her YouTube channel, ‘xoreni’, she shares resources around career development and financial literacy. After purchasing her first house at the age of 23, she started to share her knowledge with others in the hopes of helping people become more financially literate.

Over the past four years, Reni has built a community of over 150,000 individuals across her platforms. Professionally, Reni was awarded the Bay St. Bull 30 x 30 in 2022 and The Peak’s Most Influential Leaders in 2023. She is on the leadership board of York University’s Black Alumni Network and is an alumnus of YouTube Black’s Class of 2022.

Ask Reni your questions here

“I Spent ₦25k on Asun” — Nigerians on Their Most Expensive Splurge at a Local Food Joint

A use case for making money is having the means to try out new experiences. I find that a good chunk of these experiences are tied to food.

But let’s forget fancy restaurants for a minute; how much are people willing to spend at “local” restaurants?

We went to find answers

What’s Something You Never Want to Spend Money on Again?

Watch the video here

QUIZ: How Many People Owe You Money?

Do you have money “outside” and aren’t sure how many people are responsible for this? Well, let’s see if this quiz will help you out there.

Take the quiz here

Where The Money At?!

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.