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The Secret Naira Life | Zikoko!
  • The #NairaLife of a Babalawo

    The #NairaLife of a Babalawo

    Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

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    The 29-year-old subject of today’s #NairaLife is an Ifa priest born to Deeper Life parents. After a series of unfortunate events hit his family in 2001, he found solace in Ifa’s temple. Today he lives and earns money as a babalawo, and his finances? Divinely secure.

    What is your earliest memory of money?

    The first time I had money of my own to spend, I was 10, and my parents had just separated. My mother was sick in the hospital, and I was living with some family friends because we had also lost our house.

    People aware of our situation would see us and give us money along with their condolences.

    I’m so sorry. Why was this the first time you had money though?

    My parents never allowed us to take anything from anybody. We were a Deeper Life household, and they were very particular about who my brothers and I hung around. We were practically cut off from our extended family, so there were no uncles and aunties to give us money.

    But even when we did get cash gifts, they came from parents and teachers at the school my mother ran. These gifts were never really for us to do what we wanted. My mother had complete control over them.

    How much would you usually get?

    ₦50 and ₦20 there. Nothing too crazy. But it would add up over time, and after some time, I’d have saved up to ₦700 or ₦1000, which was a lot of money for the late 90s / early 2000s.

    I agree. So what did you spend this money on?

    Books.

    Lol, why?

    Books were always a part of my life. My mother was a mathematics teacher and the proprietress of a school. We had food, shelter and everything else we needed, so when there was extra money, my mother put it towards getting more books.

    If you didn’t have to spend that money on books, what would you have done?

    There was this bicycle you could rent and ride in the neighbourhood. I didn’t have a bicycle, so I’d have wanted to spend my money on that.

    But I don’t have regrets. Reading those books helped open my mind. They’re one of the reasons I’m an Ifa priest today.

    Please explain.

    The first thing books did was make me question everything.

    I was 8 when I read The Destruction of Black Civilization by Chancellor Williams. It made me see the beauty that Africa had before colonisation. That was the beginning of my journey to being a non-conformist.

    I came across Ifa later in a recommended book in secondary school. The title was “Awọn Oju Odu Mẹrindiogun” written by Prof. Wande Abimbola. Ironically, this was a book I found in the library at my mother’s school. If only she knew.

    The book was written entirely in Yoruba, and when I got to the part of the book that spoke about Ifa and traditional worship, the prayers I saw there read like poetry. They were prayers I believed anyone would want to say for themselves. I was expecting to find occultic evil incantations like in Nollywood movies.

    Interesting. When would you say you finally went beyond the books?

    I couldn’t do much because soon after my family went through a rough period.

    What happened?

    It was a series of unfortunate events that started with a tortoise car my mother bought for my father.

    In 2001, my father lost his job at Guinness. Of the two of them, my mother was always the wealthier parent, and she wanted to get a car for herself. She changed her mind for two reasons: she couldn’t drive yet, and she thought my father would get more use out of it.

    His family told him my mother was trying to steal his destiny by giving him the car. He was advised to cut her off and leave us alone. That’s precisely what he did. He never drove the car, and it stayed where it was till it rusted.

    There’s a lot to unpack here. But first, why didn’t she continue using the car?

    While he was leaving, other things were happening. Our house and my mother’s school were in Meiran, and the school was doing well for a while. But in this same year, we got eviction notices from the landlord of our home and of my mother’s school.

    At once?

    It wasn’t funny o. As if that wasn’t enough, she fell sick. It started as something small, and when she was admitted, the doctor told us it would be for about a week. That turned to seven months. It was while she was in the hospital and dealing with all the quit notices that she gave birth to my fourth brother prematurely.

    Where were you at this time?

    I was still home, and I was going to my mother’s school, but things weren’t looking good. People had heard about the place being closed down, and my mother was in the hospital. Parents started to withdraw their children, and without children to teach, the teachers left as well.

    I moved in with a family friend and lived with them until my mother was out of the hospital. When she was better, she went to a property she had at Ijaye in Lagos. She was building a school complex there before all these bad things started. She discovered that the land she had been building on apparently belonged to someone else. She had been duped.

    My mother cried a lot during this time. She kept going to the Oba of Ijaye with my newborn brother in her arms. She did this until they gave her some land in Sango Ota, so that she would stop coming there to cry. We eventually moved into a small bungalow she constructed on that land. My brothers and I joined her later.

    Oh wow.

    It felt like fate when I met my first babalawo in Sango-Ota. He was our neighbour, and he’d often send us food during any celebration, but my mother ensured we never tasted any of it.

    At the time, I knew there was nothing to be afraid of. I’d read more books about Ifa and knew that all the stereotypes attached to Ifa worship were a lie. But I was not going to use my mouth to say that to my mother.

    My new school was around Alakoko and just happened to be beside one of the biggest Ifa temples in the country. That was where I first started studying Ifa under experienced babalawos. I was intrigued by the fact that the temple owner had a doctorate. It was refreshing to come into the temple and hear bright young men consulting each other, saying prayers and helping people find answers to questions about their lives and destinies.

    Till I left secondary school at 14, the temple became the one place I could go where the world was not burning around me. Being around Ifa gave me peace.

    You were 14 when you finished secondary school?

    Yup! I skipped a few grades in primary school. I was quite gifted in a lot of my subjects.

    How were things at home during this time?

    At this point, my mother was trying to get back on her feet. I still got money from friends and family who came around or saw me at school, and my mother would give me money often. She didn’t object to the money I was receiving because she didn’t feel like she could chastise us anymore after what had happened. I averaged about ₦2,500 monthly by the time I was leaving secondary school.

    So university came next?

    Not exactly. It took a while before I got into uni.

    How come?

    I can’t explain, but I’ll try.

    My friends and I started a free tuition class to help ourselves and others pass the entrance exams. After the tutorials, we took the exams, but I was the only one who didn’t pass. I didn’t pass WAEC, JAMB and NECO for three years.

    At home, things weren’t funny. I was dealing with pressure from my parents to go and work in some of the factories in the area.

    “Parents”?

    Yes, my father came back after four years. 

    Sir?

    There wasn’t any pomp or pageantry. He was gone for four years, and we didn’t hear anything from him. All of a sudden he was back and was our father again.

    Okay. Please proceed.

    These factories paid about ₦500 a day, and my entire spirit screamed no. I decided, instead, to make the tutorial a money-making venture. We were recording impressive success rates — just not for me for some reason.

    In my second year at home, I partnered up with my mother and made the tutorials even more legit. For subjects I didn’t know too well, she brought teachers to help. 

    On average I was making about ₦10 to ₦15k monthly from the tutorials.

    Eventually, I got into Yabatech to study electrical engineering in 2012.

    Thank Ifa.

    Thank Ifa because it was the year I decided to sacrifice something to Ifa that I passed JAMB. I couldn’t afford to get a goat or anything by myself, but I bought agidi (eko) and used it. With Ifa, you’re always told to do what you can.

    But I saw shege in Yabatech o.

    Ah, what happened?

    A few months into school, I had a massive fight with my parents about studying Ifa, which escalated. I was disowned, and my siblings were asked not to speak to or collect anything from me.

    How did your parents find out?

    Before I started charging for the tutorials, my mother had a dream. She saw me wearing white clothes and holding a lion cub. She interpreted this dream to mean I was probably desperate for money and willing to do rituals. It’s interesting to note here that a lion cub is a symbol of Ifa.

    That dream caused some friction, but my mother figured the tutorials would help with money, so she was willing to help me there.

    When I got into university, I started going to the temple more often and being part of divinations and generally enjoying my time with Ifa. Some family friends came to the temple for some divinations and saw me.

    They reported to my mother.

    I was taken to several deliverances where pastors prayed and fasted to get the “demon” out of me.

    I can’t even imagine how horrible that was. How were you surviving in uni?

    Wo, survival is relative. I was barely getting by, but I had to fend for myself. Since I couldn’t collect Jesus’ money from my parents, I did everything I could. 

    I worked in the school cafeteria for a while, sold past questions, did night tutorials and even wrote exams for people. For a full day of these things, I was making about ₦3k or ₦4k. 

    I couldn’t get this every day, but I was making enough to eat and not die.

    When did things change?

    Around 2014, two years in, I went to visit a young lady I liked at the time in her departmental building. When we were done talking, I heard a lot of intense arguing coming from a room. I peeped in and saw members of the student government. I waited outside for a few hours because the way they were talking sparked something in me, and I wanted a chance to be like that — someone who could speak truth to power.

    I spoke to members of the parliament at the time and decided to run for office. While I did this, I was also writing and editing as the editor-in-chief of a publication on campus. That wasn’t a gig that paid.

    Being in parliament changed things for me. I didn’t have to worry about the ₦14,500 per semester hostel fees anymore. We were also paid a salary and sitting allowances for every meeting.

    What did those add up to?

    I know the sitting allowance was ₦1500. It was cemented in our heads because we were always looking forward to the payment that followed those meetings. 

    The salary was about ₦30k per semester.

    Enjoyment. So by 2015, you were done with school?

    Not exactly.

    Hm?

    Unfortunately, I was told that I could not graduate. 

    Sometime in 2015, because I wanted to use my voice and position as a member of parliament, I wrote a petition against five lecturers in my department. They were notorious for refusing to teach students if we didn’t pay some extra money. Nothing about it made sense. They would collect money for frivolous reasons and make life harder for students.

    It didn’t sit well with me. I love all these freedom fighter things. And in all of it, my thinking was, “If this has to get messy, Ifa is around.”

    It got messy, but I think the part that shocked me the most was having my fellow students chastise me for coming out to complicate things for them.

    I ended up just leaving without my certificate. Sometime in 2020, Yabatech announced a programme that allowed people like me to get their certificates. That was how I was able to get mine and sign up for the BSc programme I’m doing now.

    What did you do after leaving Yabatech?

    I applied and got a job at an oil company. It was an entry-level role in the brand and communications department, and it paid ₦120k a month.

    Things were better. After I was disowned, I swore never to return to my mother’s house and stood by it. My siblings started to reach out more because they needed things, and of course, I sent money. 

    During the holidays, I went to my new home — Ifa’s temple. There is an unwritten rule with the temples: if a person shows up and says they want to learn about Ifa, they automatically have a place to stay and food to eat.

    I visited so many temples, around Lagos and even beyond. I would spend my holidays in the place I felt happiest while learning about something I truly believed in.

    Did you feel any guilt about practising Ifa given all that was happening with your parents?

    No. My conviction was too firm. I knew what I was doing wasn’t wrong.

    How long did you spend at the oil company?

    A year and four months. Before I eventually got fired.

    What happened?

    Looking at my life, you can tell that I’m someone who will always try to challenge the status quo. I’m not normal.

    There were probably other reasons for my eventual sack, but one event started everything.

    After a long fire drill that caused everyone to miss lunch, we all packed into the company cafeteria to get food. We stood in line like civilised people, and then all of a sudden, these Indonesian guys walked in and tried to get into the space ahead of us. I said, “For where?”

    I screamed the house down and told everyone willing to hear that it wasn’t right for them to get special treatment just because of their skin. 

    This got me a warning, and after another incident, I got moved to the Apapa office.

    I went from working on content for the brand in the head office to directing trucks and liaising with the tanker drivers.

    Ouch…

    Don’t ouch o. It turned out to be a blessing in disguise.

    At Apapa, they called me Solution. For any process that needed to be sped up or even created, I was the guy to talk to. So on some very good days, I could pocket about ₦30k. 

    I eventually had to leave the company. I don’t think they ever really saw me the same after that first incident. Once there were signs that they would try to fire me, I accepted what was coming and left. I had about ₦450k in my savings, but that finished in four months.

    What finished it?

    There was black tax. But I was also living like someone that was expecting to get a new job quickly.

    I did get a job eventually, but it was far from quick and an awful experience. I was the social media manager for a local newspaper. I was getting paid ₦8k a month.

    Eight thousand naira?

    And the owner stopped paying after three months. He travelled and sent everyone else’s salaries except mine. When I asked him, he said he was not seeing the effects of my work. For a brand that had no social media presence before I joined, he was asking for too much.

    After I left this job, I was feeling tired of life, and while everything crossed my mind — even fraud — I just knew I didn’t want to compromise on certain things. 

    I returned to one of the many Ifa temples I’d visited over the years. I spent a year studying and living in the temple.

    Is this when you became a babalawo?

    No. I studied because I wanted to know more about Ifa and the orisas. The temple was still the only place that calmed me and made me feel better.

    Becoming a babalawo came later. After my year of study at the temple, I decided to join a political party and possibly forge a political career. I was trying to do everything except become a priest even after I’d been told by different people in the temple that this was likely my path.

    Where did politics take you?

    Abuja. That was another horrible ordeal. I wasn’t getting paid by the political party even though I was working. I squatted with a friend of mine, and once, I was stuck in the house with the dog for three weeks. I had nothing to eat and had to call different people to get money. I eventually sent a message to one of my siblings asking for some urgent ₦2k. He sent me a long text that hurt me. It wasn’t something I expected from someone who I’d helped with money almost his entire life.

    I decided that day after taking a long look at my life. If Ifa was calling me and the temple gave me peace, why was I running? I’d already studied and knew enough to be a babalawo, but I wasn’t convinced I could earn a living just as a babalawo.

    How do you make money now that you’re one?

    I do divinations and perform rituals that are needed for people, and they pay for the consultations.

    Over time, I’ve gotten a fair bit of publicity for the work I do, and this has increased the number of people I see and do divinations for.

    On average how many people do you see in a month?

    For a while, I was getting up to 200 requests daily after a period I went viral. That number has dramatically reduced, but I’d say I still see about 100 people a month.

    How much will divination cost me right now?

    Honestly, there’s no set amount for these things. It depends on what the situation is. Money comes in trickles. ₦10k here, ₦50k there. One month, I received up to ₦2 million. Sometimes I do it for free.  But always, almost immediately, something takes it.

    Something like what?

    I currently have about six people living with my wife and me, so on one hand feeding is taking a chunk of my money as it is.

    What’s something you want but can’t afford right now?

    I want to set up a radio station focusing strictly on African spirituality. I want people to see our local religions for the belief systems that they are and not what Nollywood has plied people with.

    In the meantime, I’m doing the work I can with my podcast.

    Your monthly expenses?

    How would you rate your financial happiness from 1 to 10?

    6. From the moment I decided I wanted to be a babalawo, I’ve never been financially stranded. Now, things just happen for me, and I get money from places that genuinely surprise me.



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  • The Chaotic #NairaLife of a Facility Manager Who’s Out of a Job

    The Chaotic #NairaLife of a Facility Manager Who’s Out of a Job

    Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

    This 32-year-old was able to afford rent for the first time after working for 18 years. He was going to build on that momentum, but a series of unlucky events resulted in a job loss that set him back. Now, he’s at level zero. But you see hope? He’s got plenty of it

    What’s your earliest memory of money?

    1999. I was 9 and on the bus to school, I’d given the driver ₦10 so he’d give me ₦5 change, but he told me to relax because he didn’t have. Because I was seated with him at the front, I watched us go past multiple police checkpoints where he gave them ₦5 each and at some point, I got angry. He told me he didn’t have ₦5. Why was he giving them my change?

    When I challenged him, he said, “God will not allow you to collect this kind of money.” He then explained to me that he had cursed all the money he was giving policemen. If a policeman collected money from him, his children would experience a terrible life. 

    I froze. My father was a policeman. 

    Wow.

    Throughout school and when I got home that day, I was inconsolable. I knew my dad was collecting all of those monies on the roadside, and I automatically assumed that meant I was going to have a terrible life. When my parents noticed I was crying nonstop, they tried to find out what was going on, and although I kept the information for a bit, some persuasion and beating brought it out of me. 

    How did they react?

    My dad brushed off the topic and said I was overreacting, but my mum became almost as scared as me. From that day on, every chance she got, she brought up the matter with my dad. 

    Shortly after, it was New Year’s day and my family had the tradition of talking about our achievements in the past year and plans for the new year. When it was my dad’s turn to speak, he stood in the centre of our living room and announced that he would no longer collect roadside bribes. What this meant was that our family’s finances were going to take a terrible nosedive. My mum barely made any money selling planks at the market, and the regular policeman’s salary is terrible. For context, his salary when he retired in 2018 after 35 years of service was 110k.  If they combined the money to take care of four children, it would be almost nothing. He told us that it didn’t matter what we needed any money for, we had to wait till the end of the month to ask. If he couldn’t afford it, we would wait till the end of the next month. You could feel the joy in the household, but omo, the financial nosedive was real and fast. 

    Tell me about it. 

    Our finances got so bad, I had to start hawking when I got home from school. I was only 10. I’d hawk soap, minerals, kerosene and anything we could buy cheap and move fast. On some days, I stole ₦50 out of the ₦800 profit we were meant to make just so I could buy sweets. Other than that, I wasn’t getting any other money. 

    I hawked till we moved to our own house in Ibadan. The house was incomplete, so my entire family of six stayed in one room, but it was home. The problem, though, was that it was in the middle of nowhere. There was only bush everywhere, and you had to walk 30 minutes before you saw the next house. 

    Luckily, shortly after we moved, the area opened up and constructions started happening left, right and centre. Because I was older, I decided to join the workers on the construction site, and that’s how I started working. 

    What did you do?

    I did everything they needed me to do — carried cement, mixed sand, ran errands, fetched water, mixed cement, everything. I got paid ₦500 every day I worked. On rare occasions, I went to flour depots and helped load bags of flour into trucks and off the trucks when we got to the bakeries they were delivered to. That one paid ₦800 per day. I worked mostly on weekends, but sometimes I skipped school to work. I was making money just so I didn’t have to ask my parents for money. 

    How long did this go for?

    I stopped in 2008 when I left home. I finished secondary school in 2006 but didn’t get admission into university immediately. By the time I’d stayed at home for two years, I started to feel like my life wasn’t moving forward, and staying at home made me sad, so I went to stay with a friend who was in university in Abeokuta. I wasn’t making any money, I was just living with him in his school apartment. Sometimes, I went to class with him, other times, I stayed back and slept. 

    In 2009, I got admitted into university to study philosophy, but because the only thing I’d heard about philosophers was that they didn’t believe in God, I rejected the admission. I was still aiming to study law no matter what. I left my friend’s school and went to stay with another friend. I did this also in 2010 with another friend, and by 2011, I got another admission to study linguistics. 

    What were your family’s finances like in this period?

    They were a bit better. Between 1999 and 2011, my mum went to school, acquired a  secondary school leaving certificate and became a teacher, so she was earning a bit more. 

    I got admitted to a federal university, so my school fees were about ₦4,000 per year, and hostel fees were about ₦5,000. My parents handled the finances in this period. By the time I was done with university, I realised I needed to start making money fast because I was responsible for taking care of myself. 

    So what did you do?

    In the year before NYSC called me, I moved to Lagos to stay with a relative and started a second-hand clothing business. My friends from home would tell me to buy clothes for them because they trusted my fashion taste, so I’d go to Aswani market, buy quality second-hand clothes and send it to them. I was making peanuts, but it was something. The business grew bigger through referrals and for a short period, I even sold online. 

    What happened next? 

    NYSC came in 2016 and deployed me to Abuja. Luckily, I’d made some acquaintances in the clothing business that connected me to some Chinese cloth sellers online, so I moved from selling second-hand clothes to new ones. Here’s how my business model worked: I got pictures of what the Chinese people had in their stock, posted the pictures online, and when someone ordered, I told them it would take five to seven days to be delivered. If they agreed, I took their money, sent it to the Chinese guys, they shipped it from China in 4-5 days and someone from the airport helped me dispatch it to its destination. I never saw the goods or stocked them. 

    I moved from selling just clothes to selling clothes and shoes. I was making about ₦70k a month from the business in addition to NYSC’s ₦19,500 and the ₦50k I got at my PPA for a sales and marketing role. Because I couldn’t afford rent anywhere in Abuja, I stayed in RCCG’s corper’s lodge for the entire year. 

    Were you saving all of your money?

    No. I’m the firstborn, so immediately I started making money, I became the one in charge of taking care of my siblings. Two months before I finished NYSC, I got fired from my job because my boss wanted better results. I wanted to stay in Abuja, but I still couldn’t afford rent, so after NYSC, I moved back to Ibadan and continued the online sales business until 2018. 

    Why did you stop?

    By 2017, everyone was selling shoes and clothes, so the space was saturated and my average monthly income had dropped to about ₦60k. As if that wasn’t enough to discourage me, I hit a big loss in 2018.

    What happened?

    I bought ₦350k worth of goods, and the guy who helped me transport and dispatch them got robbed while moving them from the airport. He gave the goods to a cart pusher and the cart pusher disappeared into the crowd. 

    Whoa. 

    Thankfully, some of the people that bought the goods were regular customers, so they let the money go when I explained. That totalled about ₦150k. Because I didn’t have so much savings, I had to run around for the extra ₦200k to pay the other people back. When I was done settling the debts, I concluded business wasn’t for me anymore, so I stopped and started looking for jobs. 

    What kind of job did you find?

    I found a facility manager role that paid ₦50k in 2018. It was in Lagos, and I didn’t have anywhere to stay, so I slept in one of the facilities I was managing. It was just a tiny space. In January 2019, I got employed as facility manager by another company that paid ₦90k. 

    A few months into the job, I supervised a POP installation that came crashing down two days later. My boss told me I didn’t do a good job supervising and pinned the cost on me. ₦600k. I had ₦300k in savings and he added ₦300k for the refund but took it out of my salary. For most of 2019, I earned ₦50k monthly. 

    That’s tough.

    To make ends meet, I started telling people I did interior decoration. As a facility manager, I was already in the line of work that involved renovating properties, so I figured it would be easy for me to do those kinds of jobs. By the end of 2019, I got my first gig to renovate some parts of a three-bedroom apartment. They paid upfront, and my profit was meant to be about ₦200k. On the last day, when one of the boys I hired was installing the TV, it fell and broke. The TV was ₦450k. I begged and begged for mercy, and when I told them my profit was only ₦200k, they asked that I transfer it to them. I didn’t make any money from the gig. 

    That sounds tough. Please tell me 2020 was better.

    I was supposed to start earning my ₦90k back at the start of 2020, but by March, lockdown happened, and they cut my salary by half. Throughout 2020, my salary was ₦45k. 

    In 2021 though, it returned to ₦90k, and that January, I got my second interior decoration gig through a friend of a friend. 

    Tell me about it.

    It was the interior decoration of a duplex on Lagos Island. It was much bigger than the first one. I made ₦1.6m in profit. It felt really good. For the first time in my life, I rented an apartment in May 2021. Rent was ₦350k but agent fees pushed it up to ₦600k. I spent another  ₦600k to buy essentials like a bed, a chair, a table, to make the space habitable. From the rest of the money, I bought a laptop to learn programming because I decided that I wanted to go into tech. Making money also put me in a better headspace to look for a new job. 

    Did you find one?

    I found two. They were both facility manager roles. The first one was going to pay ₦150k, but I heard that they owed salaries for months, so I rejected their offer. When I got the second one in August which was also going to pay ₦150k, I rejected it because I had started learning programming and needed all the time I could get to focus. At my current job, I already understood how things worked and how I could avoid work if I wanted to. If I took a new job, I would need to show up every day and be at my best for at least six months before I could start slacking, and I didn’t have that time. Rejecting the offer was the sacrifice I made to become really good at programming. 

    How’s that going?

    On October 20, 2021, I was on my way to work when a group of people cornered me and robbed me. I struggled for my laptop with them, so they stabbed me in the face, took it and left. Because of this, I couldn’t work for the rest of the year, and I had to do a surgery in December. 

    My boss paid me for November, but after that, he terminated my contract. The surgery cost about ₦300k. I had ₦200k out of it myself and borrowed the other ₦100k. 

    What are your finances like now?

    Haha, I’m at zero. I currently survive solely on the goodwill of others, and whatever money I get, I spend on food and data. My brother sent his laptop to continue my programming training, so I just stay at home and do that. I still look for both facility manager and interior decor jobs too, and if one comes, I’ll take it. When my rent expires, that’s when God will have to step in. 

    How have your recent experiences shaped the way you think about money?

    Going forward, my goal is to earn enough money to save through emergencies. I’m happy that my family is surviving by themselves now that I can’t assist them financially. My parents can take care of themselves, and that makes me happy.

    What’s something you want, but can’t afford right now?

    Japa money. I’m tired of living in this country.

    I hear you. Can you rate your financial happiness on a scale of 1-10?

    I’d say it’s at a 4, and that’s because of the ₦1.6m I made last year. Every time I remember I made that much money, it makes me happy and hopeful. If not for that, it would probably be a 1.


    Update: Upon requests from readers, we’ve created a payment link for people to donate to the subject of this story. Please find it here.

  • The 100k/Month Guy Who Wants To Take A Leap Of Faith

    The 100k/Month Guy Who Wants To Take A Leap Of Faith

    If you’ve been reading this every Monday, you know the drill at this point. If you haven’t, now you know that Zikoko talks to anonymous people every week about their relationship with the Naira.

    Sometimes, it will be boujee, other times, it will be struggle-ish. But all the time–it’ll be revealing.

    When do you first feel like you truly understood money?

    It was actually recently. Someone hired me to do a job and he hasn’t paid me. This guy has money oh, but somehow it clocked for me that money is money, but value is subjective. Like, money and value are not always equal. Most importantly, there’s the part where I realised that for your account to increase, someone’s account balance has to reduce.

    That’s an interesting start.

    Even if I remember the first time I made money, I’m sure it wasn’t hard. I always used to be like, “if you deliver value, the money will come.” It’s not that straightforward anymore.

    I had opportunities when I was in school, but I enjoyed doing those things so much that I did them for free.

    Then NYSC started, and I was getting broke too easily. That’s when I told my friend, “yo, I can do anything. Just holler if you need anybody to do anything.”

    Just around that time, a bunch of guys were building a business, and they needed someone to do motion graphics. My guy hooked me up with them.

    They were like, “can you do it?” and I’m like, “sure why not?”

    Bruh, I’d never done that shit before. I had no experience in design or Motion Graphics. We had that conversation on a Monday, and I sent it in on a Friday.

    They loved it so much that they invited me over, and gave me the full gist. Someone had actually hired them to do a job, and they had outsourced that part of it.

    So now, all three of us went to meet this person, as partners, and he paid us 60k. It really was a big deal. Bruh, we actually took a photo with the cheque.

    It’s also how I learned design, someone needed something done, so i just winged it and learned till I delivered.

    How did that business go?

    We had a good run, but there were too many forces pulling me away, so I succumbed, and I had to leave.

    Forces?

    Yes. We weren’t in a major city where all the action was happening. Plus, other forces like family and friends were pulling me back home. I vaguely remember, but we didn’t make a lot of money with that business in the short time we worked together–maybe 400k? But we had a good time while we were at it.

    So you mostly survived on NYSC salary?

    See, the best way I can explain my financial life is this; I don’t have money o. But I always have money.

    Also, this might sound weird, but there was this beggar who had a baby. When I think about it now, if I had only 200 naira, I always made sure to give her 100 naira. As long as I see her. I was probably giving her out of selfishness, to be honest. Because weird thing, but every time I gave her money, someone always calls me to dash me money or pay me for something. I swear.

    But anyway, where were we?

    What happened after NYSC?

    I stayed behind about six months, then I left and returned to Lagos. I got a job almost immediately. This was at the end of 2015. I started at 80k – net was 73k. I joined in November and I didn’t have a lot of needs, so it was a lot of money at the time. But next month? That was the real hit.

    What happened in December?

    One of the friends I’d already made in the company told me something, “Guy, go and borrow money you know you can’t afford to pay back.” And I’m like, what’s the guy saying? And he was like, “you go soon find out.”

    The next week, I got an “end of the year” bonus–500k. After working for only two months. Bruh. I remember sitting inside keke, in the middle of two people, looking at them left and right, and saying in my head, DO YOU PEOPLE KNOW HOW MUCH I HAVE? ARE YOU JOKING?

    Of course, I was super chill outwardly, but I was ecstatic. I saved it though, because I didn’t have any need for it.

    It was also a time that my work required a lot from me that didn’t make side interests easy, so I shut them out.

    So, 2016?

    I was collecting my 73k, but now that I remember, it’s like most of it was going to Amazon. I liked to buy fancy stuff for my girlfriend at the time, like scented body wash and stuff like that. I’d just buy and ship.

    Smack in the middle of the year, I got another bonus and gbas;  650k.

    Is there a structure to these bonuses?  

    We thought there was, turns out there wasn’t. I was saving most of it anyway, so I was good. It was a quiet year, doing my work and minding my business, but by the end of the year, another bonus gbos; 1.2 million. I wasn’t expecting it. Them no dey expect that kain thing. This was in December 2016.

    This was also the time I thought it’d be great to do something with all that money. So I convinced my mum to buy a car from someone–cost about 1 million. Then I bought it off her and had to pay in instalments. The goal was to use it for Uber. Do you know what’s mad? That car actually cost me 1.4 million, instead of 1 million. That extra money came from getting the car to the best condition possible.

    I think this was when my downturn with money started.

    I think I made only 180k from Uber. It was on and off the road–terrible investment. So by December 2017, I sold the car to someone that I sometimes feel guilty about selling to, even though he was aware of the car’s condition.

    That was also the time I decided to move out of my parents’ house.

    Ah, that.

    The place I got was 650k. But you the Landlord wanted me to pay 2 years, so it actually cost me 1.4 million. And that was the first time in a very long time I felt like, “oh shit, I’m burning through all my cash.”

    Still, I went for Umrah that December. I just felt like I needed it. This one cost 800k.

    How did you fund your December?

    Oh, I got another bonus – 2 million – so it made all of it easy.

    Also – I wish I tracked this but – I spent close to 600k to get my house to living conditions. I bought my TV for 360k – it was a Black Friday sale – then I spent the rest on painting for the house, bed, fittings and other stuff.

    Sha, at the end of that period, it felt like I was back to zero. At the turn of 2018, the office decided to increase my net salary from 70-something-k to 90-something-k, which is ridiculous, but okay.

    It really does feel like your real salary comes twice a year.

    The reality of this started setting in at the beginning of 2018. I’m like, how can I be collecting 90k a month? It’s been three years, and that was when I started to think properly about my growth within the company.

    I mean, there were occasional bonuses that still came here and there. They’d come like twice a year and bring another 200k. The problem with all of it was that you couldn’t plan around it.

    Wait, what company was this?

    It’s a services company running a very lucrative business by Nigerian standards. The company has cash, there just doesn’t seem to be a proper structure. Can’t tell you the name 🙂

    Anyway, I got 650k again, middle of the year. At this point, it was boring. There was already a shortfall for me that when the 650 came, the money felt like “are you joking” money.

    To be honest, I want to quit, but I haven’t garnered enough courage to quit. I just need a financial justification to do so, like when my side hustle can sustain me without my 9-5 salary. I feel generally disenchanted with the whole 9-5 system at this point.

    Did I mention that I bought a car? That made me completely wrecked. Only reason I could even survive paying for that car was paying instalmentally.

    Anyway–

    –End of the year bonus, 2018.

    2.5 million. I pushed like 1 million into a project. Another 1 million went to the balance of my car. The remaining 500 went into tiny holes, like debts. Sha, the money on top of the 2 million completely disappeared.

    What project?

    A lifetime project – marriage. I mean, I know 1 million isn’t going to be enough, but it’s a start. You blink and 6 months will pass and next thing you know, I don’t have any money for my wedding.

    What are the numbers looking like?

    Argh. In total now, I’ve put in about 2.25 million. My parents have put in like 5 million. I’m sure my bride and her family have in well over 5 million.

    So let’s say it has already crossed 10 million.

    Wow. I’m shocked hearing that out loud. Like, it doesn’t feel like it, but then the numbers don’t lie. We’re actually planning for 500 guests, but realistically, 600.

    What’s your financial future looking like inside marriage?

    I’m screwed. While my job gives me a bad salary, it’s not exactly bad money. Also, there’s the part where my fiancée is doing fantastically well.

    So even though I need to pull my own weight, I’m not under as much pressure as you’d expect.

    So side hustles will go a long way, because my job actually gives me time.

    We have big goals, so I’m going to have to step up. I don’t have it entirely figured out right now, but I’m in good company.  

    Let’s talk about your monthly income

    I’m winging this money shit every month. My only luck is that I’m not that much a heavy spender, so I only spend when I need to. Also, I have a reflexive saving habit. Money comes and I just save, and it’s not accessible short term.

    Also, I invested in something once; Sukuk. I can’t even remember how much I put in it, I just gave my babe to sort it out.

    For health emergencies, I have my office HMO. They also sort out pension too by the way. Imagine how much pension you’ll be getting from a 100k gross salary.

    How much money do you honestly feel like you should be earning every month?

    800k to 1 million. And this is an educated figure. My skillsets across my side projects say I should be earning that much.

    Something you want but can’t afford?

    Nothing. I have everything I want. There’s a part of me that will say material stuff, but right now I think I’m fine. I think I’m just extremely lucky for everything I have, for the people in my life. For my fiancée.

    These material things are mostly random shit, like a GoPro, or a drone.

    Grad school would have been on my list, but I like where I’m headed. But if I had to go back to school, it’d be to study Sustainable Energy Futures. I’m enthusiastic about energy solutions for our part of the world.

    When was the last you felt genuinely broke?

    Yesterday. I almost cried. I was looking at my account balance and the list of things I have to do. And when I thought of the fact that at the end of the month, I’ll get 92k, it started driving me nuts. Funny thing is, I feel this way every month.

    There’s something about my growth at work that depresses me. The closest people around me make me feel like I should be doing more.

    And it’s not like they’re saying it or anything, I look at them and I just know I should be doing more. I’m not poor, but I could be doing way better.

    Most of them are doing between 500k and 1 million a month. My existence is not threatened, financially. But I’m not happy with my financial performance, so far.

    I feel you.

    In the middle of this madness, my friends and I started a company in 2017.

    I think we’re up to something, and I can see money or other success in my future. I care very much about building digital products–systems, apps, etc. It’s super interesting and lucrative. It’s still a tough sell at large, but we’ve been lucky a few times.

    The most I’ve made from a gig – argh I don’t keep track of these things – I think it’s 200k and that’s minus the company revenue. This was a personal gig. To be honest, it was only for a few hours of work.

    Despite everything, it always feels like I don’t have money. But I just always have money and I never lack.

    Someone always tells me the best things that have happened to me were the ones I didn’t really plan for. I’m honestly grateful and optimistic about the future.

    Random, but what is your Nigerian dream?

    Building something that blows. Blowing in Nigeria is selling something to the government, then relocating your family Abroad.

    Then join them later after you’ve hustled well here. And then live happily ever after; The Abroad Nigerian Dream.

    Check back every Monday at 9 am (WAT) for a peek into the Naira Life of everyday people.

    But, if you want to get the next story before everyone else, with extra sauce and ‘deleted scenes’ just subscribe here. It only takes a minute.


  • The Lady Who’s Mastering Money, ₦416k At A Time

    Every week, we ask anonymous people to give us a window into their relationship with the Naira – some will be struggle-ish, others boujee–but all the time, it’ll be revealing.

    Here:  a lady who cares deeply about fresh food, tells us how she keeps her finances on a leash.  

    Age: 26

    Occupation: Works in Finance

    Location: Lagos

    Relationship Status: Single

    Gross income: 8.6 million/year (416,000/month, net)

    Rent: ₦250,000/year

    The first salary.

    I have many first salaries. The first money I made was Uni in 2011; 300-level and I just sold something that made me ₦2,500. I remember sending part of the money to my siblings. I think I bought them airtime.

    “Are you sure you have to send me this money? You need it o.” That’s what my brother said.

    But anyway, my next first salary was my NYSC salary, and it wasn’t just the usual ₦19,800. My Place of Primary Assignment also paid me ₦65k.

    Then to my first post-NYSC salary, my take-home was ₦136k. The annual package was about ₦3.15 mil. (Annual package is the total income earned that year, and they’ll include the money that gets taxed, paid to the pension manager and bonuses).

     

    Where does your money go?

    So first, I’m always saving. When my salary enters, my personal rule is to not touch it, until I’ve first of all looked at my budget. I have a budget on lock till December because I have projects, travel plans. So I have to know at what point I need to pay for what, and when I’ll be able to afford it. 

    I like to think about my savings in two brackets; short term and long term. My long-term savings is about ₦310k, and it’s for the more tangible things, like investments. My short term is around 25k every month. 

    I also have to say that it’s very rare for me to save the whole long-term savings every month. It happens somewhere around once in 3 months.

     

    For my running costs, I don’t have a lot of expenses so I always budget about ₦60k. 

    This isn’t always realistic though. Sometimes, all it takes is one day of reckless grocery shopping.

    When it’s looking like I’m going to be in trouble, I just pause–check my account, wallet, everything. Then I check my remaining commitments and bills for the rest of the month. I may have to adjust some things or borrow.

    But as long as I’m not taking Ubers, or spending too much on food, staying super-conscious, I’m good.

     

    What do you spend the short-term savings on?

    Small things tend to pop up–like bridal showers and the occasional Aso-Ebi – like once in 3 years. I tend to be selective about the Aso-Ebi I indulge in, and it’s not even about the money. I think it’s an imposition, and it’s cancelled in my books. 

     

    But to be honest, what tends to take the bulk of my money is fresh food. Every other weekend, I might just blow like 4k. I used to have a groceries budget. Used to.

     

    My Uber budget has almost disappeared because I have a car now. My 6,500 full tank lasts me for 2 and a half weeks.

    I still Uber every now and then. Public transport to work used to cost me ₦400 a day, to and fro. It was actually ₦300–the extra ₦100 is for the occasional fruits I buy en route.

     

    What do you think about what you currently earn?

    I dunno, really. I never realise how little I was earning, just until I’m earning more. But I’m content with it. 

     

    What was the old job like?

    It was quite prestigious. You walk into a room–any room–tell them where you work, and everyone falls in line. But it was also die-on-the-job work. It trains you to become a soldier. After 2 years, I quit mostly because I was looking for a better quality of life.

    Now, I’m lucky to be at a job where I have a good quality of life and I earn good money.

     

    Realistically, what is great money for you?

    First of all, it can’t even be in Naira.

     

    How much money are we talking here?

    Bastard money. Just leave it like that.

     

    What’s something you can’t afford but totally want now?

    Property. It’s not even a want. You should always be looking to own property because you can’t be paying rent in this Lagos. But for how long will I save to buy a property of 30 million really?

    What does your ₦250k/year rent currently fetch you?

    Oh a studio apartment–one room, a kitchen and a bathroom. You know, my leave allowance used to be my rent money. My former job used to pay my leave allowance in the month rent was due. 

     

    Do you ever think about retirement?

    I really haven’t thought about it, but maybe I’ll go to where rich people are, find someone to marry me, then start doing rich people things.

    Okay on a serious note, I know the goal is to find something I enjoy doing to the point that I don’t have to retire. Currently, I’m not there yet, I’m just winging my whole career. 

    Once in a while, I just remember “oh, we have this pension thing!” and then I check. It was a little over 1.6 million at my last check.

     

    What’s the last thing you paid for that required serious planning?

    My car. All of my long term savings last year went into my car. I copped it for 2.9 million. My agent gave me a pretty good deal.

     

    Tell me the most stressful miscellaneous you’ve had to pay for?

    Definitely car trouble. 25k or so. Or when I have to fix something in the house, like the annoying plumbing that spoils overnight. 

    I’m constantly over-planning, so big expenses hardly catch me unawares.

     

    So, you have an emergency fund?

    Remember that 20-something-thousand? That’s supposed to be my emergency fund–in fact, I named it “Contingency” in my spreadsheet. So by the end of the month, I’m like “wait, no emergency. Oh, nice. Spend that money girl.”

    Another bad habit I have is that, say I budget ₦40k for something and it comes at ₦20k, I just go yayyyyy, and then I blow the rest on food.

     

    This financial satisfaction thing, where will you say you are at right now?

    Between ₦136k to ₦416k, I think there’s a point you get to where you’re just okay. You don’t have to worry about some basic stuff–a comfort zone. So about life satisfaction, I’m content.

     

    When did you hit the comfort zone?

    I’m not sure, but the move that gave me peace of mind also gave me good money. My previous take-home when I quit was ₦256k, so it was both.

     

    About that annoying 5-year question;

    I’ve always failed this. People ask me, and they’re never satisfied with my answer. They find this hard to believe, but I’m not the most ambitious. I’m not big on ambition, but I can’t compromise on competence. I believe in cultivating competence, even if all that’s required of you is washing plate at The Place.

    Career-wise, I’m totally winging it.

     

    Let’s try this question again, but short-term.

    One of my goals this year is to actively seek out investment opportunities. I did a 7-year Sukuk bond in 2017 that will give me a 16% profit. I also invested in an Online Agric investment platform in October 2018. You pay like ₦250k in stages and you get an estimated ₦100k profit.

    Also, there’s the ₦50k Ajo I just do with the money I don’t really need with part of my long term savings.

    When it comes, I’m balling.

     

    You do pretty well with money.

    To be honest, I think knowing where you are with money gives you power. I know what I can’t afford for the rest of the year. When I get paid, I don’t touch my money until I look at my budget. Like, I’m always rushing to my laptop to check my spreadsheet before I touch it. I also have a separate account for my running costs.

     

    Any side hustles?

    I have this one where I’ve put in a total of about ₦200k. I started last year, selling stuff online with a friend. We split the damage 50/50. We’re on our third inventory cycle, and for the first time, we don’t have to put any money into it.

     

    3rd inventory?

    Yeah, the stuff we sell. The first inventory, we put in money of course. The 2nd cycle, we put in a little less money. Then the 3rd cycle, the only reason we put in money was to increase our inventory.

     

    How’s that going?

    We sell on Jumia, and that one is pretty easy. But the Instagram part? If selling on Instagram will not teach you patience, nothing will. Constant engagement is exhausting.

     

    I’m thinking about what you said earlier about ‘quality of life’

    Quality of life for me means quiet in my head. I just want to be able to slow down, and think clearly. Not necessarily money. I remember this one night at my last job:

    I’m working overnight with two other superiors. Between them is a total of 25 years of work experience. I totally respect their commitment to the work, but I know right there that I don’t want to live like that for long.

     

    That moment was my trigger.

     

    Check back every Monday at 9 am for peeks into the Naira Life of everyday people.

    If you’d love to share your Naira Life with us, tell us here. You’ll be anon, of course 🙂