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6 Helpful Tips for Making Money As A Student




There is a lot students can do to earn an income while actively working to garner their degree qualifications. Jumia Travel, the leading online travel agency, shares 6 helpful tips for making money as a student.

Do Freelance Writing For Blogs or Businesses
If you’re good at writing, you can consider doing freelance writing for blogs as one way of earning an income as a student.

Aside blogs, many businesses are looking for freelance writers to help them meet their writing and content creation needs, so you can take advantage of this and apply for freelance jobs with these businesses.

Consider Doing Online Design Work
For students who consider themselves artists, have a knack for graphic design and are really good with Coreldraw, Photoshop or other graphic design software, doing online design work, like making small graphics for advertisements and full site redesigns for websites and businesses, can be a great way to earn an income.

Students can also consider entering design competitions that offer monetary awards for winners, and stand a chance to get paid a good amount of money if they win.

Consider Becoming a Voice-Over Artist
Doing voice-over work for production companies and advertising agencies is another great way to earn an income as a student.

If you have a great voice and some broadcasting talent, you can apply for voice-over opportunities and get paid doing voice-over work for people and businesses.

Do Printing Jobs
Considering the fact that students, especially university students, do a lot of printing work, you can set up a mini-printing business with an easily affordable deskjet printer whose inks can be easily refilled, and start printing for students at your own rates.

You can set up this business close to any student’s hostel or even from your room, and be on your way to making some side income as a student.

Real Estate/House Agent
As a student, if you are conversant with your locality, you can use your free time to search for accommodation for freshers and fellow students in your school environment, charging them a commissions/agents fee for your service.

Sell Your Skills
Whatever skill you have, offer it as a service to people at a cost. If you are good at cooking, considering providing catering services to those in need of it at a reasonable cost.

If you are good at sewing, considering making clothes for people at a cost.

If you’re good at phone or computer repairs and maintenance, also consider providing this service to people at a cost.

You only need to ensure that you market your skills well, and put yourself out there so people can see what you have to offer. You can also sell your services on online sites like Fiverr, Jumia Food etc.

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CBN Unveils Regulation for Payment of Bills



Godwin Emefiele, Governor of the Central Bank of Nigeria

Central Bank of Nigeria (CBN) has unveiled regulations for the payment of bills in the country, explaining that the move was to document the minimum standards that must be complied with for the processing of bill payment transactions.


In a circular released on its website at the weekend, the apex also stressed that the regulation is also to identify stakeholders in bill payment system space, ensure achievement of the vision of a ‘nationally utilized and international recognized’ payments system in Nigeria as well as to ensure adequate protection for the stakeholders in the bill payment system space.


According to the central bank, “Any person or entity desirous of operating a bill payment platform shall apply to the CBN for a license or be integrated to a duly licensed PSP.”


In addition, “All Inter-Bank transactions initiated and authorized on the bill payment platform shall be cleared via the Nigeria Clearing System and settled via Real Time Gross Settlement System (RTGS).”


Likewise, “Each component payment method implemented on the platform shall be in accordance with the rules issued by Central Bank of Nigeria to guide the conduct of market activities for relevant payment channels.”


On the operational procedure, the apex bank said, “There shall be a Service Level Agreement (SLA) executed between the platform provider and the Biller, as a condition for on-boarding,” which “shall provide the terms for engagement, roles and responsibilities of the parties, minimum service delivery commitments, obligations of the parties and penalties, as applicable.”


The CBN further said, “SLAs shall be reviewed periodically to ensure alignment with industry/regulatory changes, or appropriate provisions made to take cognizance of mandatory changes that may come into play after implementation.”


It noted that the minimum commitments to service availability would be defined and incorporated in the Dispute Resolution System (DRS) and SLA, and properly communicated to the users of the service.


The bank said transaction status upon completion must be sent by the biller to the payer and a procedure shall be in place for change management and shall include major releases, maintenance calendars and conditions for emergency upgrades and notification process.


On the dispute resolution system (DRS), the apex bank said payments shall be final and irrevocable and be consistent with the provision of the circular on the Statement of Payments Finality.


“All requests for refunds/recalls shall be via a dispute resolution system or other supplementary rules that guide the operations of the relevant payment method.


“Service Providers shall make an automated dispute resolution platform available to facilitate seamless resolution of complaints.


“Disputes arising from Bills Payment transactions shall be resolved amicably amongst the parties in line with the provisions of the guidelines on Operations of Electronic Payment Channels in Nigeria,” the CBN said.


It disclosed that, “Each platform shall be able to receive payment for multiple billers, clear transactions and settle such transactions through existing settlement mechanisms.”


On the scope of the regulations, the central bank said it covers bill payments on various payment channels and any payment platform that seeks to integrate the payment side of commercial activity and merchant aggregators in Nigeria.


“The payment methods include Cheques, Cards, Direct Debit, Instant Payments, and Automated Clearing House, etc,” it said.


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Nigerians Lose Faith in Banks as 2m Shun Services



Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, the Nigeria Inter-Bank Settlement System (NIBSS) banking industry statistics shows that the number of customers using financial services reduced in 2017.


The statistics obtained from the NIBSS website on Sunday, showed that the total number of bank customers dropped from 61 million in 2016 to 59 million in 2017.


Similarly, active bank accounts reduced from 65 million in 2016 to 63.5 million accounts in 2017.


According to NIBSS, the banking sector, however, made great strides in linking customers’ account using the Bank Verification Number (BVN).


The report showed that linked BVN accounts grew from 26 million in 2016, to 41.3 million in 2017.


According to a banking industry source, the reduction in banking customers is not unconnected to the Federal Government’s declaration to fight against corruption.


“When Buhari assumed office, many people abandoned their accounts, especially civil servants because of fear of investigation.


“While some out rightly closed down their accounts, others opted for gradual withdrawal so as not to raise alarm,’’ the source said.


The source, who works at one of the top five banks in the country, blamed the BVN for the low patronage of banking products, especially in the rural areas, where awareness was already very low.


A bank customer, Mr Olaitan Alagbe said that she closed some of her accounts due to unnecessary and illegal charges by banks.


“First of all, the interest rate is next to nothing, so there is little reason to keep your money at the bank when you can turn it over doing other businesses,” she said.


Another customer, who preferred to remain anonymous said he opened several accounts during the Ponzi scheme boom in the country, but was forced to abandon them after the schemes crashed in late 2016 and early 2017.


However, a source at the CBN said that the reduction in the number of banking customers was caused mainly by the introduction of BVN.


“The reduction may not necessarily be a bad thing. For example, many people opened accounts using different variations of their names.


“A person bearing Musa Salisu Mohammed, may have other accounts as Salisu Mohammed or Musa Salisu.


“So with the introduction of BVN, such customers were forced to regularise their names, however, some opted to close down their accounts, which resulted in the reduction of active bank accounts and customers,’’ the source said.


The CBN source was, however, optimistic that the financial inclusion strategy of the bank would succeed in bringing in more people into the formal banking system.


The Financial Inclusion strategy aims to ensure that major bulk of the money in the economy remains within the banking sector.


A major challenge in the financial inclusion process is how to ensure that the poor rural dwellers are carried along considering the lack of financial sophistication among this segment.


The CBN, Money Deposit Banks, Micro Finance Banks and other stakeholders are currently implementing different policies designed to enhance financial inclusion in the country.

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Benue Deploys Remita Software to Tame Payroll Fraud



Benue State Government has confirmed the deployment of a new payroll system into the state Civil service in the bid to check fraudulence practices on its payroll.


Mr David Olofu, State commissioner for Finance and Economic Planning, who confirmed this, revealed that the state has engage SystemSpecs’ Remita in managing the state’s salary payment and that this has really helped to get rid of fraud on the payroll.


It was gathered that the sum of N3.5billion salary fraud has recently been uncovered on the Benue State Civil Service payroll following a verification exercise to ascertain the over bloated wage of the state.


And since the deployment of the Remita software about 500 duplicate names and over 20 duplicate Bank Verification Numbers (BVN) were uncovered through Remita software.


Olofu said, “It is painful to me as commissioner for Finance to start something that I think will bring relief to us as a state.


“To me, it is important to look at what we have as against the solution we are presenting and to also look at the agreement and see if there is any shady deal. SystemSpecs did not come from heaven, they have been recommended,’’ he said.


He said that the Federal Government was presently using its platform, Remita for the payment of its workers’ salaries.


Olofu insisted that the payment of salaries needed a platform regardless of whether the payroll was prepared by civil servants or not.


“We must always use a platform for the payment of workers’ salaries, before this time, we were using the U-pay platform.


“When we came in, we discovered that salaries were paid through the platform but the system had many problems, which included duplication of names and we wanted to find out where the problems were coming from.


“We agreed in the ministry to do a trial with Zenith Bank to see if the challenges were as a result of normal banking problems or were caused by civil servants, that trial exposed a lot of issues including duplication of names on the payroll.’


The software has made enormous impact on the Nigerian economy in a relatively short time, and has attracted a global recognition for its role in engendering accountability and transparency in both private and public sectors.


A total of six states including Kano, Zamfara, and Benue have adopted Remita in their payroll management strategy. At the federal level, the smooth running of the Treasury Singly Account (TSA) is also facilitated by the Remita platform.


Remita is more than just a payment software, it also has HR and payroll functions which help businesses maintain a comprehensive, online employee personal and payroll data.


Licenced by the Central Bank of Nigeria (CBN), Remita is developed 100% in Nigeria to the highest international standards, and it has significantly assisted to revolutionise the e-payment industry in Nigeria.


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