A recent analysis by financial expert Kalu Aja has revealed a striking reality: 95% of Nigerians don’t have up to N500,000 in their bank accounts.
Aja’s comments came after President Tinubu’s aide, Dada Olusegun, celebrated the oversubscription of Nigerian Treasury Bills to the tune of N4.59 trillion—almost four times the original N1.15 trillion offered.
The analyst warned that high yields aren’t a victory for ordinary Nigerians, but a reflection of inflation, government borrowing, and economic risks. He noted that while wealthy investors can leverage these yields, the majority of citizens are left behind.
Aja stressed that for the economy to grow, lower interest rates are crucial. High yields, he added, increase borrowing costs for small businesses and do not equate to prosperity for the masses.
This insight underscores the gap between headline financial statistics and the real financial condition of everyday Nigerians.
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