Volume 98
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Nigerian banks have 99 problems, and fraud is DEFINITELY one of them.
The Financial Institutions Training Centre (FITC) reports
that losses due to fraud soared across the country’s banking sector in Q2 2024. But here’s the thing: fraud cases in the banks didn’t jump much (there were 11,532 reported cases compared to 11,472 in Q1). But the amount the banks lost skyrocketed from ₦468 million to ₦42.6 billion in the said quarters.
While digital channels (think mobile banking, POS terminals, etc.) are prime targets, insiders within the banking system are also in on the scam — banking staff were involved in 58 of these cases. Are the banks God’s strongest soldiers?
In this letter:
- #NairaLife: This HR Babe Pays Black Tax Out of Goodwill
- My Family Resents Me for Becoming the Breadwinner After My Parents Retired
- Aunty M: I Got a Raise at Work. How Should I Plan My Finances?
- QUIZ: Do You Have Work-Life Balance?
- Where The Money At?!
#NairaLife:This HR Babe Pays Black Tax Out of Goodwill
She could have been a lawyer, but this 34-year-old HR specialist stuck to her guns and now takes home ₦2.5m a month.
Her biggest struggles, though? Impulse spending and black tax obligations to a mum she feels doesn’t deserve it.
Jollof+ is a cutting-edge savings app providing up to 21% net interest rate with no hidden charges. Designed to help combat inflation, Jollof+ offers personalized saving features, ensuring steady financial growth for users.
My Family Resents Me for Becoming the Breadwinner After My Parents Retired
Ese* (26) has been responsible for 80% of her family of seven’s needs since her parents left the police force a year ago, and it hasn’t been a walk in the park.
She talks about how her parents’ pension and gratuity payment delays have contributed to her family’s financial situation, sacrificing her needs and taking loans to meet demands at home, and how money has strained her relationship with her mum and sister.
Economic power for women is not just about financial stability—it’s about transforming lives and communities. BellaNaija and The She Tank have launched #HerMoneyHerPower, which aims to give women the agency to make decisions that shape their futures.
The #HerMoneyHerPower campaign is dedicated to making this vision a reality by advocating for women’s financial independence and challenging gender stereotypes.
Let’s challenge outdated norms and pave the way for a more inclusive and prosperous Nigeria, where every woman has the opportunity to thrive and contribute to our collective success.
Ask Aunty M with Reni
I’m considering quitting my job without a plan. I earn quite well and work for a company I have always wanted. But I am unhappy, and that has finally taken a big hit on my mental health. And to be honest, with every job I’ve had in the past, I started to plot an escape route after six months.
Now, I’m tired of just moving to random jobs and want to find something I love, but I have been unable to figure that out. I don’t have a career path, a passion, or anything else I enjoy doing. I’m suffering from low productivity and also very anxious. I wake up every morning in sadness, tears and anxiety just at the thought of going to work. I plan to quit, take a long break and figure out what I can do next.
– Nancy, 26
Hi Nancy, thank you for being so vulnerable and for sharing with me! I’m just like you. In my entire corporate career, I only stayed in a role for a year. I would get bored and move from role to role to learn something new and stimulate my brain. There is nothing inherently wrong with that, so don’t feel bad about it. I like to think about it this way: your job is there to make you money. You don’t have to love your job or be super passionate about your job. You should be passionate about living life, and your job should give you the money that allows you to do so.
Please don’t confuse this with me saying you should work a job you hate because it pays well. No. Your mental health is truly the most important thing. If you don’t have sound mental health, life gets a lot harder.
I understand everyone’s concerns and why they want you to have a job before quitting. I think it depends on a few factors. I should mention that I’m proud of you for saving your emergency fund/vex fund! Now ask yourself… how easy or difficult will it be to get a new job within 6 months? This depends on the industry you’re in. If it’s tough to find a new role, does saving up 8 months or 12 months of expenses make more sense before quitting? Also, when you quit, what is your plan to recover from this burnout so the cycle doesn’t repeat itself? Ultimately, this decision is your choice, and the people telling you not to quit don’t have to live with your choices. Your mental health is of utmost importance.
I’m rooting for you.
Xoxo,
QUIZ: Do You Have Work-Life Balance?
Many people say work-life balance is a myth. Is that true for you?
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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.
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All good things must come to an end. But not this good thing. We’ll be back next week.
In the
meantime, keep reading Zikoko’s articles and be sure to share the love.
See you next week…
Yours cashly,
Toheeb,
Zikoko’s ‘OG’ Mr. money
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