How to identify a Lagosian

Hello Fam, how has your week been? Have you gotten over the sallah holiday fever? From those who were magnanimous to share their stories, we know those who hopped from party to party eating up all available fried ram meat that has either fallen from the cooler or still steaming out of the hot bubbly oil that begs for help from the fire done beneath. This made up part of the story we heard over and over as we resumed. Some people came to work with paper wraps of fried meat, cold, hot, warm and some half eaten.

Back to our topic, what really makes us Lagosians?  Could it be our culture? The traffic? The noisy streets? The massive yellow-coloured vehicles beneath the bridge? Or the serene neighborhood of the elites?

well maybe, just maybe, but nothing defines us like our attitude. Lagosians are outstanding, bold, courageous, fierce, amazing, talented, and resilient people.

Who else can struggle in traffic over a tiny space yet lend the next person a fire extinguisher when his car has a spark?

Who can sit together in church yet shout on each other in traffic just after the service is over?

Do you know anyone who can turn a bad situation into a contagious laugh?
Tell me who else can look at an impossible circumstance, and say bring it on?

Let us say it to you clearly….. Only Lagosians!

For sure, we can’t find a better way to brag or amplify our pride than to share with you the most convenient consumer lending company in Nigeria, Credit Direct Limited is made in Nigeria, born in Lagos and available for working class Nigerian.

For our civil servants especially the federal government employees, we have bespoke product targeted at enabling your peace of mind.

What are you waiting for, log on to our website and apply for a loan. You can also chat us on WhatsApp +2349070309430 or send us an email

Repositioning Your Business Post Covid-19

As the government and economy adapts to the impact of Covid-19, SMEs must implement strategies to help secure firm footings and prepare for post-COVID economic conditions, the future of work, and long-term sustainability.

SMEs and large enterprises have experienced various forms of contraction, in some cases, closure of the businesses. Many companies had thrived on an existing modus operandi and were not prepared for the impacts of the pandemic. However, the lockdown and the emergence of social distancing has caused businesses to incorporate innovative working arrangements like remote working, online services as well as sequenced attendance

It is no news that SMEs in Nigeria contribute a whopping 48% to our national GDP, account for 96% of businesses, and provide for 84% of the employment of our citizens. With a total number of about 17.4 million, they account for about 50% of industrial jobs and nearly 90% of the manufacturing sector, in terms of the number of enterprises.

Covid-19 may have proven disastrous for your business, (as it has for many others). Getting up and running again may seem like an impossible challenge, but coming back from the brink is possible. Here are some ways you can reposition your business post-COVID-19.

Build Your Online Presence.

Many businesses that did not have an online presence practically crashed during the lockdown which brought a halt to movement and large gatherings. This caused many businesses that existed mainly on physical interactions to pack up.

The world has moved online, and the emergence of digital dominance has made it necessary for more people to rely on the internet to look for the products and services that they need. Any business that does not effectively use this platform risks losing new lucrative opportunities. Business owners must learn that it is a huge travesty to plan your strategy without having an online presence.

Review & Strategize
Your business model may have worked perfectly fine pre-COVID-19 but coming out of it may mean you have to do some fine-tuning. Specifically, you may need to consider how your business can pivot to adjust to a new normal.

Flexibility is one of the keys to thriving after the transition. Understand that the pandemic has affected the world economically and otherwise. Hence, it is crucial to adapt to the changes by inculcating new plans, being versatile and multifaceted rather than being inappropriately unbending.

When going over your business plan and business model, clarify your business’s strengths and weaknesses, consider what was working before that may not work as well now, and see where you can adjust or improve to remain competitive. Ensure to revisit your business goals to make sure they’re S.M.A.R.T, given the current circumstances.

Develop a Contingency Plan

While restrictions may have recently been lessened somewhat, it’s important to remember that we’re still in the middle of a pandemic, as a cure is yet to be uncovered. Therefore, it’s important to prepare just in case the worst-case scenario happens and there happens to be another wave of the pandemic just around the corner.

You can never over-prepare in business, after all, so make sure you have fail-safe strategies developed and at hand just in case. Whether it be a hands-free delivery system, the use of local suppliers to avoid contamination, or an entirely new service, take time now to think about how you can keep your business safe should a second wave come.

Revise your  budget to account for New Spending

Coming out of the COVID-19 pandemic, you may have to spend money before you can make money.

For instance, you may need to spend money on hiring and training new employees or rehiring ones you had to lay off. You can however train the available staff. Inventory may need to be purchased, and you might have to rev up your advertising budget again to start building fresh buzz. I would downplay spending on Advertising for now as you can leverage social media at a low cost to give you a higher impact before you launch with a bigger spend. Since the new normal has gone digital, it would be profitable to maximize your budget.

As part of your recovery plan, you should have a clear idea of what you need to be budgeting for and what you can cut to make the most of the revenue you do have coming in.

An extreme step you could take during this time is deferring paying yourself a salary or taking a pay cut. This is believing that you have isolated your personal finances from your business. Once this has been done, you would conveniently track your expense and align with your goals. Remember without proper accounting you would not be able to get loans or contracts.


Companies grow faster when they have an array of products, businesses soon come to maturity at some point, and after that, the decline sets in. We have seen companies boom and crash all because they focused on only a mono-product. By the time competition comes in, they cannot sustain the pressure that comes with competition. This is not to say there is anything wrong with specializing in a product, there is a need to improve, expand and grow within your industry. Gaining more grounds with varied products would help the company in times of uncertainty.

Whatever you do, remember you must be sustainable to succeed. You can outsource some functions of your business if it would be cheaper and more convenient. By doing this, you would save overhead costs and other expenses that would have drained your profit.



Seven Habits to Develop Financial Stability

When you have financial stability, you feel confident with your financial situation. You don’t worry about paying your bills because you know you will have the funds. You are debt-free, you have money saved for your future goals and you also have enough saved to cover emergencies.

Here are seven habits that can help develop your personal financial stability;

1. Make savings automagical:

Saving should be everyone’s top priority, especially if you don’t have a solid emergency fund yet. Make saving the first bill you pay each payday, by having a set amount automatically transferred from your salary account to your savings (try an online savings account).

2. Control your impulse spending:

The biggest problem for many of us. Impulse spending, on eating out and shopping and online purchases, is a big drain on our finances, the biggest budget breaker for many, and a sure way to be in dire financial straits. See Monitor Your Impulse Spending for more tips.

3. Evaluate your expenses, and live frugally:

If you’ve never tracked your expenses, try the One Month Challenge. Then evaluate how you’re spending your money, and see what you can cut out or reduce. Decide if each expense is absolutely necessary, then eliminate the unnecessary. See How I Save Money for more. Also, read 30 ways to save $1 a day.

4. Keep your family secure:

The first step is to save for an emergency fund so that if anything happens, you’ve got the money. If you have a spouse and/or dependents, you should definitely get life insurance and make a will — as soon as possible! Also research other insurance, such as homeowner’s or renter’s insurance.

5. Use the envelope system:

This is a simple system to keep track of how much money you have for spending. For example, you can set aside three amounts in your budget each payday; one for gas, one for groceries, one for eating out. Withdraw those amounts on payday, and put them in three separate envelopes. That way, you can easily track how much you have left for each of these expenses, and when you run out of money, you know it immediately. You don’t overspend in these categories. If you regularly run out too fast, you may need to rethink your budget.

6. Pay bills immediately:

One good habit is to pay bills as soon as they come in. Also, as much as possible, try to get your bills to be paid through automatic deduction.

7. Look to grow your net worth:

Do whatever you can to improve your net worth, either by reducing your debt, increasing your savings, or increasing your income, or all of the above. Look for new ways to make money, or to get paid more for what you do. Over the course of months, if you calculate your net worth each month, you’ll see it grow. And that feels great.


How to Prepare for a Recession (8 Proven Strategies)

You do not have to be an Ivy League analyst to realize that the economy – and stock market – is going through some serious ups and downs now.

In fact, you can see that:

  • Businesses are closing.
  • National debt is soaring.
  • Interest rates have decreased.
  • Stocks have gone up and down.
  • Unemployment claims remain high.

And you can also feel a sense of uncertainty in the air.

So, if you are worried about the next recession then you have come to the right place.

Let us walk through the 9 proven strategies on how to prepare for a recession below.

What is a Recession?

First, it is important to understand that the markets go through cycles. They go up and they go down,

The historical data suggests the following:

  • What comes up, must go down.
  • What goes down, must come up.

To be a little more technical, you can see that the stock market has periods of growth and periods of decline.

Recession Defined: A recession is a temporary period of decline in the stock markets and economy.

The emphasis is on the word “temporary.”

The technical definition of a recession is the following:

  • 2+ consecutive quarters of negative growth in the nation’s gross domestic product (GDP)

A GDP is the total value of what is produced (goods and services) within a country’s borders.

Check out the chart below, which can give you a better idea of GDP by country:

As you can see, the U.S. is the top producing country, followed by China and Japan.

Back to the subject at hand: What is a recession?

Additional indicators that could suggest you are in a recession include:

  • Rising unemployment
  • Decreasing stock prices
  • Reducing real estate value
  • Eroding consumer confidence

Consequently, a recession could seriously impact your personal finances.

That is why it is important to prepare for a recession today.

And if you have lived through the Great Recession of 2008 or the very recent COVID-19 related recession of March 2020, you will remember that feeling of anxiety.

Pro Tip: Try tuning out the media when you know you are entering a recession. The media know that fear sells, so expect to see stories of doom and gloom.

Remember that every time the economy went down, it also went back up.

So, you have every reason to feel confident that you will not lose your money in a recession.

In fact, you can make some serious gains in the stock market – if you play your cards right.

How Long Does a Recession Last?

According to the National Bureau of Economic Research, a recession typically lasts around 11 months.

However, recessions are not made equally.

Recessions can be:

  • Long and mild
  • Short and mild
  • Long and severe
  • Short and severe

I am sure you may still remember the sting from the Great Recession of 2008.

Pro Tip: If you continue to make regular investments throughout a recession and buy stocks when they are priced very low, you can still make massive gains in the long run.

What Happens During a Recession?

Basically, the economy takes a nosedive when you are in a recession.

Here is probably what you will see during a recession:

  • Increased layoffs.
  • Decrease in wages.
  • High unemployment
  • Increased government debt
  • Stocks and bonds fall in value.
  • Decrease in consumer spending.

The Bottom Line:

When the economy recovers, the negative trends of the recession will also start to recover. You just must focus on the long term.

How to Prepare for a Recession

There are a few ways to prepare for a recession, which we have outlined below.

Although no one has a crystal ball to tell you when the next recession will come, you can tell from history that each recession is followed by tremendous economic growth.

So, remember to investigate the long-term and know that 99% of the time, you will see much better economic growth after a recession.

Let us get started.

  1. Increase Emergency Savings

Before you even think about investing, first consider how much cash you have saved up.

That is why you want to have a solid emergency savings fund ready to go in the case of a recession.

Pro Tip: To have a “good” emergency savings fund, you will want to have 3 to 6 months’ worth of your living expenses saved up.

So, if you spend about N3,000 per month on basic living expenses, including:

  • Rent
  • Taxes
  • Groceries
  • Student loans

…Then your emergency savings fund should have between N9,000 to N18,000 saved in cash for emergencies.

It is not much compared to where interest rates used to be 20 years ago (we’re talking 2% to 3% or higher), but those rates are the highest in the current market conditions.

  1. Pay Off High-Interest Debt

Debt is terrible in any type of economy – but it can especially be a heavy burden during a recession, where fears of unemployment (and consequently no income) may be in the air.

Below are some examples of high-interest debt:

  • Payday loans
  • Credit card debt
  • Other personal loans

Basically, you want to start paying off debt with interest rates of 10% or more as fast as possible.

When you pay off your debt, you have fewer payments due, which can help ease your mind, especially during a failing economy.

Once your debt is paid off, you can use your money to:

  • Invest in the stock market.
  • Pay off other, lower interest debt.
  • Put toward your emergency savings.

Check out the 5 key benefits of debt consolidation:

  • Decreases your stress.
  • Ability to pay off debt faster.
  • Could improve your credit score.
  • Typically, you pay lower interest rates.
  • Instead of making multiple payments, you only pay 1x.
  1. Stick to your Budget

If you want to prepare for a recession, you must learn to live within your means.

Here is the simple formula to sticking to your budget:

Budget Formula: Expenses < Income = Becoming a Millionaire

In other words, your expenses must be less than your income.

A budget is a millionaire planning tool to help you optimize your money so you can build the future you want. Sticking to your budget – and not spending more than you earn – is going to be SUPER helpful, especially when a recession is looming on the horizon.

By living frugally, you can free up a lot of your money to:

  • Pay off debt.
  • Invest for retirement.
  • Use toward emergency savings.
  1. Cut Down Expenses

As your income increases, it is probably a good idea to check out where you can cut costs and save more money.

In addition to sticking to your budget, as discussed above, it is also important to avoid allowing lifestyle creep to nibble away at your net worth.

Lifestyle Creep Defined: Lifestyle creep happens when you spend more money as you earn more money.

Instead, try training your mind to save more money as you earn more money (and keep your expenses the same).

Since the chances of your income being slashed or eliminated are high during a recession, you want to make sure you can live without certain expenses.

That is why it is important to learn how to cut costs before a recession hit.

Below are some easy ways to cut costs fast:

  • Cut the cord.
  • Find a roommate.
  • Go thrift shopping.
  • Terminate subscriptions.
  • Bargain with your utility companies
  1. Diversify your Investments

Have you ever heard of the saying: “Never put all of your eggs in the same basket?”

Well, the same goes for your income streams.

Imagine depending on just 1 income stream during a recession… and then facing the reality of being let go from your company.

Without income, it is going to be hard paying for your regular living expenses – not to mention the difficulty of finding a job during tough economic times. So, do not rely on just your 9 to 5 job.

There is a reason why the average millionaire has 7 income streams.

  1. Become a Side Hustler

If there is one thing I learned, it is this: Start building your side hustle as soon as possible.
I’m sure you can already tell what my favorite side hustle is… it’s blogging!

Check out the top 3 side hustles and their monthly income potential:

Now keep in mind, you probably will not see numbers even close to the numbers above within the 1st, 2nd or likely even 3rd year of pursuing your side hustle.

But, if you:

  • Are consistent.
  • Are committed.
  • Stick with your plan.

…Then chances are, you will likely succeed.

  1. Live on 1 Income Stream

This rule of thumb only works if you live with your partner and both of you are earning income.

One of the best ways to prepare for a recession is if you and your partner live below your means by:

  • Saving 1 income stream
  • Living off the other income stream

Living off only 1 income stream can help you with the following:

  • Pay off debt.
  • Save for retirement.
  • Keep investing during a recession.
  • Increase your emergency savings fund.

The Bottom Line:

If you practice living off only 1 income stream when times are good, it is going to be very easy for you and your partner to live off 1 income stream, should (worst case) 1 of you lose your jobs during a recession.

8. Invest in Yourself 

One of the key outcomes of a recession is high unemployment.

And even though you may be completely crushed that you were let go of your job, you can use that opportunity to invest in yourself.

That is of course assuming you have:

  • Paid off your debt.
  • Additional income streams
  • Bulked up your emergency fund.

How do you survive a recession?

You can survive a recession if you prepare properly beforehand.

Some steps you can take include:

  • Invest in yourself.
  • Stick to your budget.
  • Live below your means.
  • Build an emergency fund.
  • Build extra income streams.
  • Diversify your investments.

Credit – MMW.

Remember, while you prepare for life during the recession, we would encourage you to start a passion project, something you love to do without much effort, monetize it and make the most out of it. We are here to provide quick loans for you. Get Quick unsecured loan without collateral, no guarantor, no account opening. Credit Direct Limited enables your peace of mind.

Contact us today. 01 4482225 or chat us on WhatsApp. click 

Coping with Financial Stress During the Global Pandemic- Get Quick Loans Now

Money worries is one of the most common issues. Feeling overwhelmed with money issues can be frustrating. Many of us are having to deal with financial stress and uncertainty at this trying time. These tips will help you regain control of your finances.

Take inventory of your finances

If you’re struggling to make ends meet, you may think you can ease your stress by leaving bills unattended to. But denying the reality of your situation will only make things worse in the long run.

The first step to devising a plan to solve your money problems is to detail your income, debt, and spending over the course of at least one month.

Create a monthly budget

Whatever your plan to relieve your financial problems, setting and following a monthly budget can help keep you on track and regain your sense of control.

Talk to someone

When you’re facing money problems, there’s often a strong temptation to bottle everything up and try to go it alone.

You may feel awkward about disclosing the amount you earn or spend, feel shame about any financial mistakes you’ve made, or embarrassed about not being able to provide for your family. But bottling things up will only make your financial stress worse. So, open up and talk to someone.

Manage your overall stress

Resolving financial problems tends to involve small steps that reap rewards over time. It’s unlikely your financial difficulties will disappear overnight.

But that doesn’t mean you can’t take steps right away to ease your stress levels and find the energy and peace of mind to better deal with challenges in the long-term.

While we are managing the stress that comes with the pandemic, what we make the most out of the situation. We are here for you whatever the need, Get Quick Collateral Free Online Loan? Visit any of our digital channels, website or chat us on WhatsApp now 09070309430

CoronaVirus: Implications For Business.

CoronaVirus: Implications For Business.

As economies reopen, many companies decide to combine remote work with time within the office to urge the simplest mixture of productivity and collaboration. But with employees feeling anxious and burned out, getting the balance of the new hybrid model right is critical. A survey was carried out by Mckinsey of over 2,000 employees to find out what they’re saying about remote work.

We have identified four phases that organizations will move through as they answer Coronavirus:


Responding to immediate challenges. Practically overnight organizations needed to set up a large portion of their workforce to work from home for the first time. Do they have the devices and access they need to perform their jobs? What might have been a five-year plan to transition a portion of the workforce to remote now had to be executed in a week or two for the majority of employees.


Managing through uncertainty. Instead of an 8 a.m. to 4 p.m. shift, with a set break and lunchtimes, employees were starting earlier, working later, but taking longer blocks of time during the day to address childcare, elder care, etc. instead of a target of 85% productive, goals might have been adjusted to 75% during the first month, and then increased as new habits and patterns emerged.

New Roles and Skills:

Adapting to a new world. Many industries were dramatically impacted by the coronavirus pandemic.
Some banks found out bank tellers reception as contact center agents to assist handle the high volume of inquiries. The challenge is, how does one quickly onboard these employees with the talents they have to perform these new roles?

Each of those phases will have different workforce requirements, and organizations must resist the urge to leap to the simplest and most immediate solution.

Workforce Shaping

Many organizations will consider their workforce challenges through a standard workforce planning lens – the number of individuals or positions they have or they need. Instead, workforce shaping may be a discipline for organizations to articulate an intelligent and strategic understanding of the workforce they require within the next five to 10 years.


However, Click here to find out more about low-interest loans from Credit Direct. You too can apply for an instant personal loan from Credit Direct Limited to take care of any emergency. Don’t forget to share this with someone.

Why You Should Apply For a Personal Loan

Personal loans are unsecured loans given with zero collateral and may be used for several purposes.  However, the best part is that unlike secured home loans, car loans, or education loans, personal loans can be used for a variety of purposes.

Below are some circumstances to guide you on why you should apply for a personal loan;

  1. Medical Emergencies

There are often several situations in your life where you’re handling a serious health concern of yours or your loved ones. In such circumstances, Credit Direct offers low-interest emergency loans instantly, during a completely digital and painless process.

  1. Higher Education

Taking an online Master’s program or take a course that will improve you or your business, it is known that traditional education loans come with certain conditions that might not be met. For example, some loans can only be accessed only if you get admission to a specific category of colleges and universities.

  1. Funding a Big Purchase

You might be in need of a new refrigerator, washing machine, laptop, or television, etc. All these expenses aren’t exactly cheap and need a sufficient amount of funds. If you do not have enough money to spare directly, take a private loan of the needed amount and repay it in small EMIs to manage the impact of buying a big-ticket purchase better.

However, Click here to find out more about low-interest loans from Credit Direct. You too can apply for an instant personal loan from Credit Direct Limited to take care of any emergency. Don’t forget to share this with someone.

Exploiting Market Gaps

It is often very easy to conclude that there are no new needs to service in the market and opportunities are non-existent or constrained. That is far from the truth and often the first slide into complacency.

A market gap is an opportunity for a business to expand its customer base by identifying and capturing new customers and/or meeting the needs of existing customers for new products or services.

Over time, businesses that have been able to keep an eye on market trends and spot opportunities for carving out unique markets have enjoyed growth. One benefit of exploiting the market gap is that often, first-movers become dominant in the industry and sometimes enjoy a monopoly.

On the other hand, complacent businesses end up struggling for market shares in industries already at their maturity or in decline.

There is an opportunity today for businesses to mark new territories because the fallout of the pandemic, the aftereffect of the pandemic, and the new work it has created will lead to a change in consumer behavior and needs.

Here are the critical considerations to help with exploiting market gaps.

Understand your existing market 

The first step to expanding your frontier is in understanding where you currently stand. As a business owner, you need to have a clear picture of the profile of your existing market. You need to ask the following questions: what am I selling and what problem is that solving? Who are my customers? What are they saying about my services? What are their complaints?

You also need to be aware of the different types of customers based on demographics and income class and how their profile affects demand for varying features of your products and services.

This information will help you understand what segment of your market is underserved and which features need to be enhanced to bring in new customers.

An example of this is TikTok, a popular social media platform among GenZ and Millennials today. The application used to be, which allowed people to upload lip-synch videos. ByteDance saw an opportunity to focus majorly on the GenZ and Millennials’ preference for short video sharing social media and bought in 2018.

By focusing on a need from a particular generation, ByteDance created a new product that has become a giant in its rights.

Understanding what people think and feel about your product or service is not difficult. You can utilize short surveys on Google, person-to-person conversations, or data and reports published about your industry. You can also follow the news to keep up to date with trends.

Leverage Technology

Uber and Airbnb are some of the wonders of the 21st century, but these businesses are nothing more than a change in approach to already existing enterprises.

Uber for instance allows users to hail taxis from the convenience of their phones rather than from a sidewalk. Incorporating technology into your business process can help you achieve efficiency and reduce cost, and it can help even deliver services or products customers will appreciate.

In today’s world of artificial intelligence, blockchain, and social media, businesses can think out of the box to discover how these advancements can help them create new markets.

Educate your potential market

Economists have at some point debated whether “demand creates supply” or “supply creates demand”. For marketers, the belief is that by showing consumers their need for a product, a market or demand can be created. This approach can be useful in creating new demand for your product.


Closer home, the consumer lending today was nonexistent some 13 years ago until Credit Direct Limited took up the challenge even when the top tier banks battled to understand the model of operation, they brainstormed for over 8 months to learn the business to no avail, the rest they say is history as these commercial banks now jostle for same space years after the first movers took up the challenge. Never Say Never. Be ready to step up and do new things that would create an indelible mark in time. Dare to win, dare to succeed. You alone have the capabilities to limit yourself. Go forth.