The Money Wheel Episode 4 | Explosive Twist: Mr. Kosoko’s Health Crisis Intertwined with Overwhelming Debt!.

Bolu lay on the couch in his father’s sitting room, a wisp

of smoke curling upward from the cigarette in his hand.

He had somehow unlocked his father’s phone and now

understood what had been distressing the man for a while.

His father was in huge debt, and an email from the bank

had threatened a repossession of his properties.

Bolu was distressed. His father’s five properties in

Magodo, Maryland, Surulere, and Lekki were his hope

for a good future. They had been debating him managing

the restaurant in Lekki. University had not been for him,

but he was convinced he could run the restaurant better

than the business manager his father had hired. Now that

his dreams were evaporating with this revelation, he was

furious with his father. The man could not make anyone

happy. It’s why their mother killed herself, and now, why he

and his brother were going to be hustlers for life.

He grabbed the phone and opened his father’s chats

on WhatsApp, wondering what other revelations he would

find. He laughed when he read his chats with Ken.

“So na debtor you be?”

Ken wondered how Bolu had found out.

“So you don’t have any money, and you’re busy doing

Father Christmas and driving a big car?” He cackled so

loudly that Ken had to clench his fists to prevent himself

from striking the young man.

“What do you want?”

“I know your type. You like enjoying life, but you can’t

afford it. This is the deal: I won’t tell my brother, but you

will give me that money…”

“I will not…”

“This month, you will pay me ₦100k instead of

₦500k. Then next month, another ₦100k until you pay


Ken could see how this could work out for him, but

what if the landlord regained functionality sooner than


Bolu read his mind. “I’ll tell Daddy that you paid.

Babatunde will not know. It will be between you and me.

But if Babatunde finds out now, he will chase you and your

broke family out of this property.”

“He can’t. No one else knows I owe him.”

“I do. It’s either you give me smaller money or you

pay everything at once. Babatunde will disgrace you o. Just

imagine him calling boys to bundle you out of this place.”

Bolu smiled and then laughed. He knew he had cornered

the man.

“Let me think about it,” Ken replied.

“Think very well o.”

Layo stepped out of the house and joined Ken on

the veranda after Bolu had left. “Please don’t give him the

money. If you sell your car, we can take care of some of


“You must be insane. So I’ll be climbing okada at my


Ken left Layo standing on the veranda. She didn’t follow

him; instead, she began to wonder how long she could

continue to live with such uncertainty. What would happen

if her family got evicted from the compound? She couldn’t

imagine the shame. Layo realised she needed to take her life

and that of her children in her hands. Saheedat had told

her about the EasyInvest app, so she had downloaded it,

registered an account, and created her first savings goal —

emergency funds.

Later, she told Saheedat, who had another thought

about it.

“Based on what you’ve told me, I think it’s better to

save toward your short-term expense.”

“Saheedat, please break this thing down. Are you saying

I shouldn’t save for emergency funds?”

“No, I’m saying it seems you have a more important

goal. You mentioned your children’s school fees, right? Why

don’t you save towards that instead? You can put it in a

mutual fund.”

“What is a mutual fund o? You’re always talking as if I

understand these finance things.”

Saheedat chuckled. “I’m sorry. You know I’m not a

teacher like you, so I don’t know how to explain things like

you. So, basically, a mutual fund is adding your money

to a pool of funds that can be invested in stocks, treasury

bills, bonds, real estate, or other assets. It’s good for people

who can’t afford big investments, and it’s a great way to get

some interest on the money you set aside. So, instead of

your money just sitting in a savings account with a minimal

interest rate, it can earn you more in a mutual fund.”

“So where will I do this mutual fund? Is it like joining

a savings cooperative group? Like an ajo?”

“Yes and no. Yes because it’s a cooperative effort, but

no because you don’t know the people you’re investing

with.” Saheedat smiled. “To start a mutual fund, you need

to register for it with a funds management company. I use

EasyInvest. They invest in assets like mutual funds.”

“Hmm, are you sure it’s for people like me? How much

can I start with?”

“You can start with as low as ₦5,000…”

“And how much will I get on that ₦5,000?”

“It may not be much. The more you invest, the more

returns you get.”

“And when can I get my money?”

“Anytime you want. You know what? I think I should

introduce you to my financial advisor. He will go into more

detail about some of these things…”

“Don’t worry. I will just go to the website of the service

you’re using. What’s the name again?”

“EasyInvest.”…. to be continued.


Mutual Funds

A mutual fund is a pool of money from different investors,

which is invested by professionals called fund managers to

earn returns. By investing in mutual funds, you leverage on

the power of numbers.

Mutual funds are divided into two main categories.

Open-ended mutual funds: This category of funds

does not limit entry and exit. That is, there is no restriction

on how many units can be purchased. Investors can enter

and exit throughout the year, which means the fund units

are available for subscription and redemption at any time

of the year.

Closed-ended mutual funds: These types of

funds issue only a specific number of shares and do not

issue new units as investors demand for more, hence the

name closed-ended.

There are various types of mutual funds:

1. Equity mutual funds: This is the most popular

category of mutual funds. Fund managers select

stocks based on the mutual fund’s objective and

investment style. An equity mutual fund is a must have

investment in meeting your long-term goals.

2. Money market mutual funds: A money market fund

is an open-ended mutual fund that invests in shortterm

debt securities such as treasury bills, commercial

papers, short-term bonds and other money funds.

They are considered extremely low-risk and safe.

3. Balanced mutual funds: This is a hybrid mutual fund

that invests in a mix of stocks, bonds and other asset

classes. They provide a greater level of diversification

compared to other types of mutual funds.

Benefits of mutual funds

1. Diversification: With mutual funds, your risk of loss

due to single asset investing is reduced.

2. Access: Mutual funds give small or individual

investors access to professionally managed portfolios

of equities, bonds, and other securities. Mutual funds

are operated by professionals called fund managers

who allocate the fund’s assets and attempt to produce

capital gains or income for the fund’s investors.

3. Affordability: The entry points are low and affordable

even for low-income earners. Did you know with

as little as ₦5,000, you can start your journey of

investing in mutual funds?

4. Lower transaction costs: The transaction costs are

lower when investing in a pool compared to investing

individually in a single asset class. That reinforces the

benefits of economies of scale.

The type of mutual funds you choose as an investor

will depend on your risk tolerance, financial goal(s), and

investment preference.