How You Can Emancipate Yourself from Mental-Poverty

 “If we are born poor, it is not our fault, but if we die poor, it is!”……. Bill Gates

The late Madame C.J.Walker was born to poor black farmers in Louisiana, USA in 1867. She experienced hardships and discrimination typical of the United States at the time. At the age of 38, she observed that most hair care products were designed for white people’s hair. The black hair which she possessed was rough, kinky and short. It did not appear attractive enough so she decided to do something about her black hair. She thereafter hit upon a formula for a preparation to enhance the hair of black women. She made pomade and shampoo preparations and started experimenting on herself and her family. This caught-on like wild-fire and her business later developed into a multi-million dollar enterprise. She was thus credited in 1919 by NAACP magazine as the woman “who revolutionized the personal habits and appearance of millions of human beings.” She is on record to have been the first black female millionaire in the United States.

The only major thing that appears to have helped poor, seemingly hopeless people like Madam C.J Walker to make money is that they did not accept their situations in life and they “chose” to do “something” about it. This is the reason why they succeeded. That “choice” and that “something” hold the key to anyone’s determination to make money. That key lies in your own choices. All you need to do is, emancipate yourself from mental-poverty and free your mind. This is what I am simply urging you to do. If you free your mind, you will be amazed how much you are capable of doing within a given period of time and that includes making a lot of money if you choose to.

 

Why CBN Barred Nine Banks from Forex

Street talk in Nigeria has it that Nigerian Banks operate like legitimate businesses run by crooks or more like crooked businesses run by dubious people. It appears Nigeria’s Central Bank has just found that one out. As part of its regulatory functions and in a very clear reaction to it, the CBN has barred nine erring commercial banks from all foreign exchange transactions and operations. A very severe punishment and quite shocking indeed considering the importance of Forex to the overall viability and profitability of most Nigerian money deposit Banks.

Reports coming out of the apex Bank indicate that the nine banks were barred for hiding some $2.12 billion belonging to the nation’s oil corporation, the Nigerian National Petroleum Corporation, NNPC. That they all deliberately neglected or failed to remit the funds into the Treasury Single Account, TSA, a key policy trust of President Muhammadu Buhari’s administration. The Banks are to remain shut out from foreign exchange transactions until they fully remit the NNPC funds into government coffers via the Treasury Single Account, the apex Bank insists.

How to Work Your Way Out of Poverty

To get ahead in life and step out of poverty, there is no other way than to work. There is no substitute to work. The harder and smarter you work, the wealthier you become. You need to work if you want to earn money and live a good life. The commonest measure of wealth is money but wealth is not all about money. While wealth is abundance of valuable possessions including money, “money is a unit of value, a medium of exchange, a standard of deferred payment.” Payment for goods and services which result from efforts of people either individually or collectively in form of work is usually done with money. A large accumulation of money usually translates to wealth.

Obtaining money is done in one of or a combination of four ways namely:

1.    You can earn it.
2.    You can borrow it.
3.    You can beg for it or
4.    You can steal it.

The first three are legal while the fourth is illegal but they all involve some measure of work but in varying degrees of intensity. However, striving for and earning money legitimately in form of work is the most dignified way of obtaining money. The more productive work one does therefore, the more money he or she earns. “The amount of money you earn is in direct proportion to the demand for what you do your ability to do it and the difficulty of ignoring or replacing you.”



“Work is the foundation of business and the source of all prosperity.” Work is an “activity in which one exerts strength or faculties to do or perform something.” The direct result of work is a Product or Service which can be sold or exchanged to obtain money. That some strength or exertion (that is work), is required before money is made stands as the main reason why some people have money while others don’t. The ranks of the poor are populated by those who can not work for one reason or the other. Many will work and work hard if they find suitable engagements. Those who make and accumulate wealth do not necessarily do different things; they do things differently. This separates them from the poor. You must have the strength, ability and willingness to perform or do a duty or render a service before you can aspire to make money. Those who attempt to get something for nothing usually end up disappointed because the law of “Cause and Effect” is a natural law. You must put in something to get out something in compliance with this natural “Law of Reciprocity.” No human activity has ever succeeded to break this law without unpleasant consequences.

You can decide to work and earn a salary or you can decide to work for yourself. However, I must point out that the surest and fastest way to wealth and comfort is through self-employment. At some point in everyone’s life, it becomes inevitable that you will be self-employed. If you work for someone and you earn a salary, one of three things must happen to end that relationship. The first is you could resign, second is you could be retrenched and thirdly, you could retire. When any of these happens, self-employment and private entrepreneurship becomes imperative.

Research findings indicate that nearly 80% of workers are reluctant to work because many find themselves in jobs they do not like. Do we need to search too far why poverty is endemic in our world? Something needs to be done to check this reluctance. People must on their own find and do only those things they like to do. This is private entrepreneurship. To get ahead in life, you must know the work you are doing, believe in it and like it too so as to obtain maximum output and rewarding results. The only viable way out of our vicious cycle of poverty is through self-employment and not 9-5 jobs. Self-employment is all about going into business for yourself. Even if you now work for someone, you still need one or more additional-income enterprises on the side if you ever hope to escape poverty.