BUSINESS

Neither Skye Bank Nor Any Other Bank In Nigeria Is In Distress- CBN

Published

8 years ago

July 7, 2016

The Central Bank of Nigeria (CBN) , has assured Nigerians that no bank in the country currently is in distress, including Skye bank whose management was taken over by the CBN during the week.

This came in a statement through the acting-director of corporate communication for the apex bank Isaac Okorafor, on Wednesday it read that the rumors of financial crisis in the banking sector is an untrue reflection of the actual state of the sector.

Isaac Okorafor – Central Bank Governor

“For the avoidance of doubt, the infusion of a new Board and Management for Skye Bank PLC is a proactive regulatory action meant to ensure that the bank does not continue to fail in its relevant prudential ratios. Neither Skye Bank nor any other bank in the industry is in distress,” read the statement.

“Therefore, the CBN would like to request the general public to ignore speculations or rumours to the contrary as they could only be the handiwork of mischief makers who do not mean well for the Nigerian banking system and its economy.

“As the regulator of the industry, the CBN hereby reassures the banking and general public that their deposits remain safe in any Nigerian bank.

“There is, therefore, no need for panic withdrawals from any bank. Going by both the CBN’s Examination Reports as well as analysis from market watchers, International Credit Rating Agencies, and Development Finance Institutions, the Nigerian banking industry remains strong in spite of the global economic challenges emanating from the collapse of global commodity prices.

“We therefore urge the banking public to remain calm and go about their normal businesses without panic. It is important that we do not create problems when none exists.”

Related Topics:Banking sector Banks Centeral Bank of Nigeria Skye bank

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BUSINESS

How To Make Money Online As A Nigerian Student

Published

1 month ago

March 17, 2024

Adaeze Okechi

Nigerian Student? How To Make Money Online | Fab.ng

Are you a Nigerian student? It can often mean balancing studies with a tight budget. The urge to be financially independent, to finally buy that desired gadget, or simply to have some extra cash for emergencies, can be powerful.

However, focusing on studies often leaves little room for traditional employment, which can feel overwhelming to take on. Thankfully, the digital age offers a wealth of opportunities to earn money online, allowing you to work from the comfort of your dorm or favourite study spot.

This article dives into various options that you can explore. Whether you leverage your existing skills or learn new in-demand talents, there are ways to make money online while still managing your studies effectively.

How you can make money online as a student in Nigerian

Being a student in Nigeria often means juggling studies with limited finances. Earning extra money online can be a dream, especially for that desired gadget or emergency.

Thankfully, the digital age offers various options to explore. Here are some ways you, as a Nigerian student, can venture into the online earning space:

1. Freelancing: Turn your skills into cash

Nigeria boasts a thriving freelance market catering to diverse skill sets. If you excel in writing, platforms like Upwork or Fiverr connect you with clients seeking content creation, copywriting, or editing services. You can craft website content, and blog posts, or showcase your graphic design abilities by creating logos and presentations.

Beyond writing, there are opportunities for coders and those comfortable with data entry. Web development and data entry gigs can be lucrative options.

2. Online Tutoring: Share your knowledge and earn

The knowledge you gain in your studies can become a source of income. Online tutoring is a fantastic option if you excel in a subject or have a knack for explaining complex concepts. Platforms like Chegg or VIPKid connect you with students seeking academic guidance. You can tailor your tutoring sessions to your schedule, making it a flexible way to earn while helping others.

Furthermore, if you have a strong grasp of the English language, consider online English language tutoring platforms. These platforms cater to students who speak English as a second language, allowing you to share your expertise and earn from it.

3. Content Creation: Build your online presence and get rewarded

Do you have a passion for a specific subject, enjoy being creative, or have a talent for making people laugh? The world of online content creation might be the perfect fit for you. Platforms like YouTube or blogging allow you to share your interests, knowledge, or humour with a global audience.

While building a substantial following and income takes time and dedication, content creation offers a unique way to express yourself and earn money. You can monetize your content through advertising, getting sponsored, or even selling your own merchandise.

4. E-commerce and affiliate marketing: Explore your entrepreneurial spirit

For the business-minded student, the possibilities are endless. With research and planning, you can set up an online store to sell handmade crafts, clothing, or other products. Platforms like Etsy provide a user-friendly space to showcase your creations. Identifying a niche market and offering unique, high-quality products is key to success.

If managing an online store seems daunting, consider affiliate marketing. This approach involves promoting other companies’ products on your social media platforms or website. You earn a commission when someone purchases through your unique affiliate link. Affiliate marketing allows you to leverage your existing online presence to earn income without managing inventory.

Remember, success in any online venture requires dedication and perseverance. Building a strong portfolio, consistently delivering quality work, and effectively promoting yourself are crucial steps.

The Internet provides Nigerian students with a vast and ever-changing landscape of opportunities to make money. Whether you choose to leverage your existing skills or develop new ones, identifying your strengths and interests is key. Even a small amount of online income can significantly improve your life as a student. Embrace the digital age, refine your skills, and embark on your journey towards financial independence, one click at a time.

For more articles like this, check here.

BUSINESS

How To Make Money On Facebook

Published

1 month ago

March 16, 2024

Adaeze Okechi

Like other online platforms, earning money through Facebook requires dedication and effort. While it’s not necessarily “easy,” consistent work and implementing effective strategies can lead to income generation.

Many people spend a significant amount of time on Facebook. This time can potentially be used to generate income through various methods. This article explores five strategies for earning money on the Facebook platform.

1. Monetize your Facebook account

Earning money directly through Facebook can be achieved, but it requires specific criteria and strategies.

Content creators and frequent posters have the potential to monetize their content through various methods, which include:

Facebook Stars and Gifts: Viewers can purchase virtual stars and send them to you during live streams. These stars can be exchanged for money, and viewers can also buy gifts using stars.
In-stream Ads: This option is available for those who upload video content. You can enable ads to be displayed within your videos, generating revenue based on ad views.
Paid Subscriptions: Facebook allows creators to offer exclusive content to subscribers for a fee.

It’s important to note that monetization on Facebook comes with requirements. To be eligible, you’ll need to reach a certain level of engagement, such as having at least 10,000 followers or exceeding specific video viewership metrics within a set timeframe.

You can easily check your eligibility through Meta Business Suite on Facebook. Simply select the page you want to monetize and navigate to the “Monetization” tab.

2. Facebook Marketplace

Another option to generate income through Facebook involves selling on the Facebook Marketplace. Unlike content monetization, selling on Marketplace doesn’t require specific follower counts or engagement metrics.

The process is straightforward:

Access the Facebook Marketplace.
Locate the “Create New Listing” option.
List the product you want to sell.

Important to remember:

You can only sell physical items.
Animals, medical products, services, and health-related items are not allowed for sale.
When creating a listing, you’ll need to provide:
- Clear pictures of the product
- A detailed description
- The asking price

Overall, selling on Facebook Marketplace offers a relatively simple way to turn unwanted items into cash.

3. Affiliate marketing on Facebook

Having a Facebook page or group with a sizable following can open doors to earning potential through affiliate marketing.

What is affiliate marketing?

In simpler terms, it involves promoting other companies’ products or services and earning a commission for each sale generated through your unique referral link.

Success with affiliate marketing relies heavily on having a substantial audience. Therefore, if your Facebook page or group has a strong following, you can leverage that reach to:

Promote products or services relevant to your audience’s interests.
Include your affiliate link when recommending these products or services.
Earn a commission if someone purchases through your unique link.

However, it’s crucial to be transparent with your audience. Disclose that you’re using affiliate links and avoid misleading them about the products or services you promote.

4. Facebook social media manager

Another way to leverage Facebook for income generation is by working as a social media manager.

What is a social media manager? This role involves overseeing the Facebook presence of businesses, brands, or even individual influencers.
Responsibilities of a social media manager:
- Growing the follower base of the assigned Facebook page.
- In some cases, creating engaging content to be posted on the page.

Essentially, social media managers act as the voice and helping hand for these entities on the Facebook platform.

5. Through paid sponsorships

Building a large and engaged following on Facebook can open doors to potential income opportunities through brand sponsorships.

What are brand sponsorships? This involves collaborating with companies or brands that aim to reach your audience and promote their products or services.
How can this lead to earning money? Brands may directly contact you, or you can approach them to establish a partnership. If both parties agree, you can earn income by:
- Featuring the brand’s products or services on your Facebook page, group, or profile.
- Creating sponsored content promoting the brand.

It is important to remember that gaining a large and active following takes time and consistent effort. Earning money through sponsorships is not guaranteed and requires a strategic approach.

While building an audience takes dedication, it can unlock possibilities for collaboration with brands in the future.

For more business-related articles, check here.

BUSINESS

Obi Cubana Launches Electric Car-hailing Service In Abuja

Published

2 months ago

March 7, 2024

FAB.NG

In a move set to shake up the transportation landscape of Nigeria’s capital city, renowned entrepreneur Obinna Iyiegbu, more familiar to many by his popular moniker Obi Cubana, has unveiled a brand new venture. Enviable Transport, an innovative e-hailing transportation service, has officially arrived in Abuja. It offers residents a fresh and exciting way to navigate the bustling metropolis. This marks a significant development for both Obi Cubana and the transportation sector within Abuja.

Hot on the heels of a significant fleet expansion, Enviable Transport has unveiled its latest initiative, showcasing a steadfast dedication to serving the residents of Abuja. This exciting development comes after the company proudly acquired over one hundred cutting-edge hybrid electric vehicles (EVs).

At the unveiling ceremony, Obi Cubana declared Enviable Transport’s unwavering commitment to building a secure transportation network in Abuja. He enthusiastically stressed that their mission mirrored the progressive vision of the FCT administration, led by Minister Nyesom Wike.

Cubana further emphasized Enviable Transport’s resolute dedication to providing efficient, well-organized, and secure transportation options for the people of Abuja. Their unwavering focus was to combat the criminal activities, like theft and assault, that often plagued urban transportation systems.

He said:

“In line with the dynamic vision of the FCT administration under the honorable minister, Chief Nyesom Wike, Enviable Transport is here to ensure that we totally reduce to the barest minimum incidences or risks of urban transportation, to curb ‘one chance’ and or kidnapping

“With our service, you will know who is driving you at all times, even if you misplaced your phone, it can be recovered and returned to you with Enviable Transport.”

This decision to be more environmentally conscious is in line with Enviable Transport’s ambitious 2024 agenda. The company is firmly committed to promoting sustainability and providing passengers with a cleaner and more eco-friendly way to travel. By partnering with CIG MOTORS, a renowned leader in the electric vehicle industry, Enviable Transport is steadily working towards achieving its ambitious goals and creating a more sustainable future for everyone.

Check out more updates here.