Terms like “High Net Worth Individuals (HNWIs)” and “Ultra-High-Net-Worth Individuals (UHNWIs)” are frequently used to differentiate the level of richness and wealth. Both differ in financial capability, investment strategies, and lifestyle choices. For instance, Oprah Winfrey, whose net worth was $3b and Aliko Dangote ($11.6b) as of November 2024, are not in the same category as … Read more
What Defines Extreme Wealth? Ultra-High-Net-Worth Individuals (UHNWIs) are people whose investable assets exceed $30 million, excluding personal assets like primary residences. This elite group represents the pinnacle of global wealth, commanding significant economic, social, and philanthropic influence. UHNWIs’ wealth is often diversified across assets such as equities, real estate, and private businesses. Characteristics of UHNWIs … Read more
The discussion in Nigeria’s taxation space lately has been how to tax the High Net Individuals (HNIs) more. Already, the Internal Revenue Service of the Federal Capital Territory Abuja has opened a special unit, targeting individuals who earn an annual income of N25,000,000 or more. So, Who Are The High Net-Worth Individuals? The term “High Net Individuals” … Read more
What Is an Endowment Insurance Policy? An endowment insurance policy is a unique financial product that combines life insurance coverage with a savings component. It ensures that the policyholder’s family receives financial support in the event of an untimely death while also providing a lump-sum payout if the insured survives the policy term. This dual … Read more
November 2024 was nothing short of electrifying for Bitcoin enthusiasts and market watchers. From breaking barriers to flirting with the monumental $100,000 mark, the king of cryptocurrencies delivered a rollercoaster ride of price swings and bold statements. Whether you’re a seasoned investor or just curious about what’s driving the market, this analysis uncovers the forces … Read more
A Nigerian man based in the United Kingdom, who had planned to marry a Nigerian woman, has reportedly called off the wedding after her family demanded a bride price totaling ₦3.5 million. The man, who met the Akwa Ibom woman online, intended to sponsor her academics and travel documents so she could join him in … Read more
The founder of Nicakelv International Limited, an automobile importation and sales company, Kelvin Lawson, has stated that Nigeria is not ready for Compressed Natural Gas (CNG) as a viable power source for vehicles. The administration of President Bola Tinubu approved the establishment of Presidential CNG Initiative (Pi-CNG) on August 18, 2023. CNG is currently a cheaper … Read more
If you’ve ever taken out a loan, signed up for a credit card, or considered financing a car, you’ve probably come across the term Annual Percentage Rate (APR). At its core, APR is a way to understand the cost of borrowing money or the return on an investment in terms everyone can easily compare. Key … Read more
No, 3D Secure and Two-Factor Authentication (2FA) are related because they serve as security layer in the financial and banking sector, but not the same. Key Differences Between 3D Secure and General 2FA Here’s how they differ: Purpose 3D Secure: A specific protocol designed to secure online card transactions by authenticating the cardholder. It’s used … Read more
The digital revolution in banking has reshaped how customers interact with financial institutions, but it has also introduced new risks, particularly in online transactions. One of the key tools to combat these risks is 3D Secure, a protocol designed to enhance the security of online card payments. Let’s break it down. What is 3D Secure? … Read more