The Chairman of Trium Limited and Former Group Deputy Managing Director Access Banking Group Victor Etuokwu has made it known that 65 million Nigerians are involved in active bet.
This was revealed at a program titled “A Day Outreach” organized by Christ The Redeemer Friends International, which took place at Trenchard Hall, University of Ibadan.
Mr Etuokwu further explained that each betting is $15, which is about #24,000, adding that 14 million Betts are done in Nigeria every day, averagely around #300 billion.
Speaking on investment, Mr Etuokwu said it is not that people don’t have money to invest, but they are after quick money. “In the last 10 years, Nigerians have lost over a trillion to the ponzi scheme. Just a few months ago, we all heard about Cibex, and you also know about MMM. There are several of them.
“He made reference to Proverbs 13:11, which says: “wealth gained in haste will diwndlle but he who gathers little by little will prosper,” refering to gathering little by little as investment.
Reference was also made to Matthew 25:14-30, which talks about a wealthy man who was traveling and he gave talents to his servants. He gave five talents to the first, two talents to the second and one to the third servant. The one he gave five talents invested it and gained five talents. Likewise the second also invested and gained two talents but the third servant went to berry his talent.
When the wealthy man arrived and it was time for accountability, the servant he gave five talents came and said he invested the five talents and gained five more talents. The wealthy man praised him, and he was rewarded.
The second servant also accounted for two more talents and was likewise rewarded. The third servant returned the talent without profit, and the wealthy man was mad at him. In verse 27 the wealthy man said the servant should have invested the money with the treasury or bank so that he would have the interest as his returns.
So the scriptures and God know that there’s a need for increase and interest is not bad. It is scripturer and has the scriptures backing. So, we ought to invest the resources we have with the view of making it grow and applying it to future benefits.
Mr Etuokwu also spoke about the fundamentals of investment, which include: starting early, setting clear goals, and having a focus. “There are risks, but in the risk lies the returns. The higher the risk, the higher the returns. Understand your ability to manage risk. Your tolerance is talking about your appetite for risk. Consistency is the foundation of smart investment. Run away from the punzi scheme. If it sounds too good, it is a punzi scheme.
In concluding the lecture, he referred to Luke 12:13-31, which talked about the rich fool. He emphasized that the greatest wealth is a rubust relationship with God. Your can build wealth and have a legacy and inheritance for grandchildren, while doing that don’t take your eyes off your maker because in Deuteronomy 18:18 it was clearly stated to remember the lord your God for it is he who give you the power to get wealth.
Earlier in his welcome address,the Vice-Chancellor of the the University of Ibadan, Prof Kayode Adebowale said Christ The Redeemer International (CTRI) is an initiative of Pastor E.A Adeboye the general overseer of The Redeemed Christian Church of God.
He added that CTRI is not a church but an independent non-governmental organization that has been a blessing to the body of Christ.
