This sentence by Van Gogh hits hard:
“If I am worth anything later, I am worth something now. For wheat is wheat, even if people think it is a grass in the beginning.”
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Can someone explain why it is often easier and cheaper to fund a betting account than an investment account in Nigeria?
When you transfer ₦100,000 from your bank to a betting app, you typically receive the full ₦100,000. When you withdraw your winnings, the process is often simple and seamless. But when you transfer money to a brokerage account, fees begin appearing immediately. You pay when you fund your account, you pay when you buy, you pay when you sell, and you pay again when you withdraw.
Let me be clear, I have no problem with brokers earning a commission for the service they provide. But why should investors be charged at almost every step of the process? A single, transparent brokerage fee should be enough.
If we truly want more Nigerians to invest and build wealth, then the system should reward investors, not treat them as a source of endless cash machine. The path to investing should never be more expensive than the path to gambling.
The system is rigged against an average Nigerian who wants to build wealth legitimately.