Quote from: Tungbulu on July 06, 2025, 01:39:34 PM

Quote from: fredericktaylor on July 06, 2025, 12:39:30 PM

There may be some other reasons, mainly to enjoy these benefits, a person deposits all his life savings in the bank.
from my point of view, just saving is not enough, it is the right time to think about where and how you are doing it. these reasons can bring big risks in our life at one time so we should be very careful. we can save some money in the bank for our family expenses and emergency fund but not all our life savings.

I can give you a thousand and five reasons why putting your life savings in a bank is a totally bad idea, but I will only talk about inflation. Yes, inflation can be a big problem when you choose to store your value via fiat (naira). Inflation isn't only eating deep into Nigerian's economy but also the global economy too, but like we already know, naira is depreciating and losing value by the day and so will your money/savings when you choose to keep it in the bank.

Bank no be place to leave our money inside our. Apart from the fear say them feat hack am or something bad feat happen to the bank due to how every economy the shake, why e bad to leave money for bank nah be say nah the bank go the make that profit with your money instead of you the owner of the money. As them use your millions do businesses or give am out as loans, nah peanut them go come drop inside your account when month end. That peanut go di make you feel say interest then enter, but you go make more than 10x of that interest if you use am buy bitcoin hodl am for wallet. And you no go get fear of losing your funds since nah you only get access to your pass keys. But plenty people no know this.