Make The Most of Your Money
Tunde Sokoya is young Nigerian professional with his fair share of woes. Growing up in a middle class family, his father made him and his siblings attend public school, from nursery to secondary school level. This was unlike many of his neighbours who went to expensive private schools. Every day at school, he learnt discipline and a strong work ethic from his teachers. The experience made Tunde see life differently than his middle class peers. To him, life was a struggle & you have to work hard to make something out of yourself. The easy life of being a spoilt brat of wealthy parents was not his portion, despite Tunde’s father being a rich entrepreneur.
When Tunde graduated from high school, his father enrolled him in a good university in America. Tunde chose to study business information systems, a new field of study where managers translate business challenges into technological solutions that aid companies to perform better. After a 4 year study, Tunde graduated with an upper 2nd class degree. When he returned to Lagos, his hometown, he first worked with his father and became the CEO of the firm. In the 1st 3 months, he optimized business processes & leveraged resources with technology so well, that he achieved the company to save 35% on fixed costs & rake in an extra 5 million Naira per year. At this point, his father advised him to seek work in a big company, now that he had Nigerian working experience. After 3 months of job-hunting, he secured a job as a mobile application developer for a digital firm servicing banks & financial institutions with e-consultancy. His starting salary was pegged at 1,8 million Naira per month. After 6 months, Tunde moved out of his father’s house and rented a small self-contained, 1 bedroom flat on the mainland. His girlfriend, whom he met in university in USA, moved in with him.
They both worked on the island, Tunde worked in Marina while his girlfriend managed a private hedge fund in Victoria Island. Both saved a lot of money and didn’t indulge in self-gratification like spending 40% of each salary on designer clothes & electronics. After a further 3 months, Bukola, Tunde’s girlfriend became pregnant. She worked for 3 months before she resigned and took better care of her pregnancy. Tunde started working overtime to earn more money for the baby. Their landlord, having found out of their high salaries, doubled the rent before the Christmas. This strained the couple as their expenditure was getting a lot that they hardly had anything left for themselves as a family. Tunde’s father retired and stopped working actively in his business, due to the growing economic hardship in country. Tunde paid his parents a monthly contribution to cover their basic needs and enjoy their retirement a bit. He also gave a monthly stipend to his younger siblings who were jobless and staying at home. Bukola used to pay a large amount of her salary to her ailing mother, who requires specialist medication for high blood pressure. When Bukola started staying home, Tunde took over that expense too.
They sold Tunde’s Mercedes & Tunde started using Bukola’s Corolla. The traffic was getting worse, both when going to and leaving from work. After a while, he left the car at home and started using the BRT service, since it was expanding. However, he couldn’t avoid the average 6 hours wasted daily in traffic jams.
Tunde was a hard worker but he was at breaking point. With 2 whole families to take care for & a pregnant girlfriend, he often ran out of money & took short term loans until every payday where he would pay it back. However, after covering all expenses at the beginning of every month, he increasingly found himself being broke already after the 1st week of the month! This led Tunde to borrow more and take on more debt than he ever thought he would expose himself to. To top it all up, the overdrafts he would reach into whenever he would go broke, led him to be harshly penalized by his bank on multiple occasions. He called them a few times over the phone to appeal the action but the bank would remain adamant and place additional charges on his loans. When Tunde was blessed with a beautiful baby girl, he was in the red every month, regardless of his salary coming in or the accruals of his modest money market investments. His bank was charging hundreds of thousands for his banking activity, which after 15 months amounted up to 5,2 million Naira.
Tunde had no savings anymore, as the bank used any available money he had, to cover his outstanding debts with them. Having money taken out of his account impulsively numerous times led Tunde to borrow money from his friends and relatives, which he was never able to pay back.
Tunde was at the end of his wits. He is intelligent & hard working and generates tens of millions of naira for his company now as chief technical officer. Here he was though, over 5 million Naira in debt, 3 credit cards maxed out and outstanding personal debts from friends and family amounting to 1,5 million Naira. Tunde was being crushed by the weight of life & could not go on any further. He always prayed on his knees every night before he went to bed. He would always ask God to let it be well with him. He got to the point though, where he felt nothing was going to change & there was no way out.
One night, on his way home from work, he decided to walk on the bridge over Onikan that leads to Obalende. He looked down and saw the lagoon. Knowing he can’t swim, he slowly climbed across the railing of the bridge. While starting to cry, pedestrians noticed him & ran hurriedly to him. As Tunde was about to jump into the lagoon, 3 men grabbed him back and threw him on the ground! Tunde wept! He screamed at them to let him go, that nobody can save him, that he wants to kill himself. The incident caused a scene and several cars parked by and their drivers went up to him, trying to calm him down. Tunde cried profusely. He couldn’t stop shouting, ‘What kind of life is this? Can nobody have pity on anyone? I have a new born baby and 2 families to pay for every month! My landlord has doubled my rent because he thinks I have money! I’m paying for my girlfriend’s sick mother! I’m paying for my parents who have retired. I’m paying for my siblings to make them hustle! I’m paying for basic necessities that have become more expensive! My bank is giving me penalty for various times I borrowed money! I owe them over 5 million Naira! I’m broke, I live from hand to mouth. I have nothing to show for my salary! What kind of life is this? Is this life? I don’t want to live anymore! Let me kill myself!!!’
As Samaritans still calmed him down, an elder, very well dressed man wiped the tears off Tunde’s face. He said, ‘My son, don’t lose hope. Life is hard but we must never give up. Where there is no way, God will make one!’ He reached into his breast-pocket and gave Tunde a card, saying, ‘You’re not the only bread winner suffering from exorbitant bank charges & penalties. Call these people! I’m their customer. They’ll get your money back for you.’ Tunde, still sobbing, thanked the man and got up from the road. The good Samaritans encouraged Tunde not to lose hope and clutch onto God! As everybody went their own way, Tunde got on the bus home and was in a deep, reflective state.
His mind was blank. He tried to assess what could be done now. He remembered the business card the old, rich man gave him. He took it out and looked at it. Abcom Consult. He decided to give them a call. After a short conversation, he scheduled an appointment for the next day to find out how they can help him.
The team at Abcom were very understanding of Tunde’s dilemma. They listened carefully and took a lot of notes about his financial status over the months. After a long narration of his desperate reality, Tunde was assured by the MD that not only did he come to the right place, but they would also ensure that he gets a substantial amount returrned to him after they approached Tunde’s bank on his behalf. Tunde liked what he heard and signed the papers to allow Abcom to start reclaiming his money immediately. Christmas came and Bukola, having heard of Tunde’s suicide attempt, took her family to church where they spent the entire day, from 7am til 6pm, praying fervently to God.
On New year’s day, a childhood friend of Tunde, heard of his ordeals and payed them a visit. They spent quality time together and when his friend left, he gave Tunde 200,000 Naira as a gift. ‘I know you’re going through a rough time, but things will get better. I believe this is your time, now that you have survived the worst. God will never fail you!’, said Tunde’s friend on the way out. Both Tunde and Bukola burst into tears as they hugged each other.
On the 1st day back at work, Tunde got a call during his lunch break. It was from Abcom and they asked when he could come by their office for a chat. Tunde said, he would meet them before 5pm and left the office half an hour earlier. When he met the MD, the MD simply gave him a cheque. It was from Tunde’s bank and worth several millions of Naira! Tunde, completely shocked, screamed out with joy and shook the manager’s hand while praising them for several minutes. He stormed out and rushed back to his family. Bukola dropped to her knees and started thanking God for answering her prayers. This cheque gave Tunde the boost he needed to break out of the vicious cycle of getting paid but losing it all to service debts. Tunde saw no way out at the height of it & attempted to take his life because of it. Tunde can now better plan his income & get the most leverage for it, with the expert help of Abcom Consult. He now optmizes his expenditure, knowing fully well now, that what he pays in excess to his bank, he will get a significant amount of back. Tunde forever escaped working poverty that afflicts so many hard working, well meaning, everyday Nigerians.
2015 is almost over. What have you put in place to make sure your income doesn’t get unnecessarily hampered by your bank and financial lending organizations? If you’re like most bread winners, you simply work hard, make a lot of money but pay a large amount of it for the family needs and expenses – often leaving not that much for yourself to relax, take it easy and enjoy life, too. This needn’t be so. There don’t have to be as many bills with your bank as you’ve got. You can get a lot of those charges back, because when you combine them over your working life, they often amount to millions of Naira! How would an extra 350,000 Naira in your account sound like? How would you feel to reclaim 3,5 million naira from excess charges your bank placed on you? It would make a difference, right? Of course it would!
It’s hard enough being the breadwinner, taking care of multiple families. It doesn’t always have to be this hard. Let us make life easier for you. Contact Abcom today & let their formidable team of forensic accountants and financial specialists x-ray your account and give you back a sizable amount in a short time. If anyone deserves his/her money, it’s you! After all – you earned it.
Abcom Consult & Managment
Contact us now & get a lot of money back!
(12/8/15, 12:46 AM Western African Time)