By Ifunanya Ndigwe

A UK-based business data analyst, Ruth Eso, has urged professionals, freelancers and business owners to move beyond basic savings and put their money to work in order to build sustainable wealth.

Eso gave the charge on Thursday during a free financial literacy webinar organised by the Female Freelancers Network, FFN, with participants joining from Nigeria and the United Kingdom.

The session, themed “Investment: Beyond Thrift, Money is Wealth Generation,” was moderated by FFN Founder, Elizabeth Osayande.

Speaking at the virtual masterclass, Eso said the continuous impact of inflation means saving alone can no longer guarantee financial security.

“Too many people stop at using money just to buy things or leaving it to sit in a savings account,” she said. “The wealthy understand that money must be put to work. Investment is what allows your money to grow instead of sleeping.”

The financial adviser noted that disposable income generally goes into three areas: consumption to meet present needs, savings for emergencies, and investment to build the future.

To illustrate, she compared two salary earners, Ngozi and Amina, who both earn ₦300,000 monthly. While Ngozi spends impulsively and saves leftovers, Amina allocates her income intentionally — 10 per cent each to emergency savings, treasury bills, active investments, and personal development.

Eso said the goal should be to move from a single income stream to multiple streams. She listed five asset classes for a balanced portfolio: financial investments such as stocks, bonds and treasury bills; business investments; real estate; investing in self through learning and skills; and alternative investments like gold.

She also cautioned against emotional decisions and platforms promising unrealistic returns. Nigerians, she advised, should verify rates and security through the Central Bank of Nigeria, CBN, Treasury Bill auction results, licensed investment platforms, and Securities and Exchange Commission, SEC, publications.

“Investing is not gambling; it is about making informed choices based on facts,” she said. “Before you invest, always ask: What is the expected annual return? What are the risks? Is the platform regulated? And how long will my money be tied up?”

The training ended with three key rules: pay yourself first, prioritise consistency over capital size, and understand any asset before investing.

Participants react

An award-winning journalist, Mrs. Kofoworola Belo-Osagie, said her major takeaways were: “Pay yourself first each month; consistency in investing — the power of compounding; and self-development as part of investment.”

A participant based in the UK, Marvine, described the session as “excellent and reflective,” while Chioma Eze, a final year student at the University of Lagos, UNILAG, rated it “5/5,” noting that “the facilitator simplified the concept of investment.”

In the vote of thanks, FFN volunteer, Leonard Okafor, said investing is now more relevant for Nigerians given current high interest rates by government and corporate organisations. He urged participants to explore reliable platforms such as Bamboo and Cowry, while stressing that government and regulated institutions remain the safest routes.

FFN’s Technical Manager, Engr. Jeff Osayande, coordinated the technical aspects of the webinar. Pioneer member, Madam Christiana Alabi-Akanbi, also appreciated FFN Grand Patron, Mr. Lekan Otofudunrin, and the host, Mrs. Osayande, for their commitment.

About FFN

The Female Freelancers Network, FFN, formerly the Female Freelancers Federation, FFF, is a platform dedicated to giving freelancers, especially women, a voice and a platform to shine and thrive.

The network organises a monthly media exposé on the last Thursday of every month where industry veterans share experiences and tips. Since its inception in April 2023, over 500 persons have been trained.

Past facilitators include Mr. Lekan Otofudunrin, Madam Joke Kujenya, Madam Juliana Francis, and Esther Ijewere.