Where does money go?
Chi chi goes to buy a tortoise bank from her local supermarket
At the end of the day, the cashier takes the money from the sales to her boss. And at the end of the month, the boss pays salary to all the supermarket employees.
Lanre has just received his salary, he immediately goes to pay it into the bank.
Bank teller: Next customer, please.
Lanre: Here is my deposit slip.
Bank teller: Thank you.
At the same time, Sade has come to ask for a loan. The bank manager checks how much excess money there is in the bank that can be used for lending. He issues Sade the loan to buy a new car.
Car sales person: It is all yours madam.
Sade goes to the petrol station to fuel her car. She gives the attendant a N500 tip.
After a long day at work, Mohammed, the fuel pump attendant, goes home and hugs his daughter Chi chi and gives her N500 to keep in her tortoise bank.
Chi chi: Yay! Thank you, daddy!
We know where money comes from, but do we know where it goes?
Money doesn’t just appear and disappear, it goes from hand to hand!
From the moment it is first created when it is still crisp and fresh, it goes to the bank, and then we collect the money from the bank or from the ATM, we spend the money in shops, we give it to family and friends, who spend the money in shops, the shops take the money to banks, the banks give the money to us ancd on and on it goes.