Speakers At UBA Business Series Zoom Meeting Counsels Business Owners

… Urges Them To Take Savings, Investment, Financial Discipline More Serious 

By Olanrewaju Falayi

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Speakers at a one day United Bank For Africa, UBA, Business Series Zoom Meeting with the theme “Personal Finance: Wealth Management In Today’s Economy” and organised by the UBA Value Chain Banking has counselled Business Owners across Nigeria and Africa as a whole to take savings of proceeds from their businesses and investments very serious and also ensure they are financially disciplined in the handling of their company incomes.

Speaking at the Business Series Zoom Meeting on Thursday, the three Speakers namely Odiri Oginni CFA, the MD/CEO of United Capital Asset Management; Boason Omofaye, the CEO/Executive Editor/Founder African Reports as well as Akintoye Balogun, the CEO, Muva Networks and Recording Artist all enjoined Nigerians and Africans at large to take advantage of the UBA’s Customer’s friendly philosophy to improve and grow their businesses to become bigger. 

The three Speakers commended the United Bank For Africa, UBA, for always taking care of the interests of it’s customers and providing support to Small and Medium Scale Enterprises by connecting and networking with them to grow and becomes better. 

Odiri Oginni while speaking at the Zoom Meeting, pleaded with both the physical and online participants to see money as a tool rather a goal. “When you move, money also moves. Business Owners should have some levels of control over money. 

“For business owners to be well disciplined financially, the best way is for them to start, and when they start, they should start small and be consistent in savings. 

“Odiri went on to describe Investment as the next level of life after ensuring a successful savings and setting right business goals. She urged the Small Scale Enterprises and Businesses Owners to invests in the Real Estate business. She explained that the Real Estate business is a good platform for savings and having investments opportunities well preserved for the future. 

While responding to a question on the issue of Stock Exchange, Odiri revealed that “investing in stock exchange is a very risky and volatile thing to do or venture into by business owners. She used the opportunity to encourage Small Business Owners to diversify into other profitable enterprises”. 

In his own words, Mr. Boason Omofaye, the CEO/Executive Editor/Founder African Reports, emphasised on the need for small business owners to obtain loans to boost their businesses and have well planned budgets when it is taking. 

Boason advised business owners never to use loans obtained for other things but to ensure they strictly expend it on business purposes. “Mixing business funds together with other things is not good. Every business must have financial discipline. Using company’s account to finance personal and family needs will lead to nothing but a total collapse of such a business. 

“The first rule of investment is that business people should never invest money meant to grow business into other things. Investments in stocks is security for the future. Chares cannot be lost as long as the company bought it from still exists. The current UBA shares price is N17”.

Boason also advised business owners to stop taking advises from wrong and unprofessional people introducing investments in stocks exchange to them. 

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“I want to as a matter of necessity appeal to you all business owners listening to me online or physically present here, to be extremely diligent with the funds you have and loans obtained to do your businesses. 

“Don’t throw away those disciplines you have been able to imbibe, that has helped your grow businesses to grow to its current level now. Maintain the level of your discipline which has helped you so far.

“When transferring your wealth, maybe to your children or to another generation, ensure you transfered them properly without allowing any leakages to your wealth most especially through taxes. As business owners, you should all live a moderate life”, he stressed. 

In his own remarks, the third Speaker, Mr. Akintoye Balogun, the CEO, Muva Networks and Recording Artist, told the participants to adopt the use of artificial intelligence to increase their efforts so as to also improve on the incomes of their companies. 

He revealed that, in today’s world, millions of people are already getting deeply involved in artificial intelligence businesses and they are making billions. 

Balogun opined that, through the use of artificial intelligence, a lot of geographical barriers have been blocked. 

He also called on business owners across Nigeria and Africa to create adequate time for the development of their own mental awareness. 

Balogun maintained the need for business people to be disciplined about their spending habits and also emphasized for proper planning, savings and avoid flamboyant lifestyles. 

“There is no money that cannot fly out of the window if not handled well. 

“I looked forward to the first entertainment business that will be enlisted into the stock exchange” Balogun declared. 

Meanwhile, in her closing remarks, Mrs. Ugochi Obanua thanked the speakers and the participants, urging them to take to heart what they have learnt during the Zoom Meeting. 

She revealed that a total of over five thousand participants joined the webinar meeting through online while over thirty were physically present. 

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