Author: Chronicle Editor

“Detty December,” Nigeria’s unofficial end-of-year spectacle, is an annual economic boom of concerts and parties, amplified by the return of the “IJGB” (I Just Got Back) crowd. This celebration drives massive discretionary spending and consumer euphoria. However, this festive high often leads to a financial low; the “Long January.” This is when critical non-negotiable expenses like rent and school fees hit hard. Do not treat December as a financial free-for-all. Savvy individuals and business leaders must reframe it as the final, crucial financial quarter. The goal is to shift from emotional spending to deliberate, strategic saving. Here are five smart, actionable…

Nigeria’s richest man Aliko Dangote escalated his fight with regulators on Sunday, accusing them of enabling cheap fuel imports that threaten local refineries. Nigeria is Africa’s biggest oil producer but relies heavily on imports and Dangote’s refinery was meant to change that. Dangote said if imports continue unchecked, they will threaten jobs, investment and energy security. Speaking at his 650,000-barrel-per-day oil refinery in Lagos, Dangote said imports were being used “to checkmate domestic potential”, creating jobs abroad while Nigeria struggles to industrialise. “You don’t use imports to checkmate domestic potential,” he told reporters. Dangote called for an official inquiry into…

FairMoney Microfinance Bank, a rapidly growing digital financial services provider in the Nigerian fintech space, is spearheading a significant paradigm shift in the country’s digital finance sector, moving beyond its foundational digital lending services to champion comprehensive financial inclusion and full financial identity for the masses. While instant credit remains a vital service, the bank, which began as a digital lending platform in 2017, is now positioning itself as a full-service financial ecosystem. This strategic evolution directly addresses Nigeria’s critical financial exclusion challenge as described in the Enhancing Financial Innovation & Access (EFInA) Financial Services Access Survey 2023 reports that…

By Henry Obiekea, Managing Director, FairMoney Microfinance Bank Nigeria Nigeria’s pursuit of a $1 Trillion Gross Domestic Product (GDP) by 2030 is perhaps the most significant economic objective in the nation’s history. This goal is audacious, yet wholly achievable, rooted in the nation’s greatest asset: its dynamic and youthful population. With a median age well below the global average, this demographic dividend is a reservoir of creativity, entrepreneurship, and innovation—the very fuel for an economic explosion. However, harnessing this potential requires more than just ambition; it demands inclusive capital. Today, the brilliant ideas generated by young Nigerians—from tech startups to…

Lagos is set to host its first-of-a-kind outdoor multi-day music festival, Shakara Festival, from Thursday, December 18th to Sunday, December 21st, 2025.  The groundbreaking event will take place at Nautica Beach Resort, Lekki, Lagos, offering a four-day immersive celebration of music, culture, and lifestyle designed to take African music to the world. Shakara Festival is poised to become the ultimate destination for the annual ‘Detty December’ pilgrimage, expecting to host 20,000 attendees daily, from diasporans returning home to music lovers across the African continent. The festival promises a quintessential contemporary African experience, showcasing the vibrant style, sounds, and tastes of Nigeria.…

November is a highly anticipated month for businesses, especially those in the e-commerce space. The reason is Black Friday—a massive sales event where companies offer customers incredible deals, driving huge sales volumes and, ultimately, significant profit. For many businesses, the revenue generated during Black Friday can outshine several months of sales combined. It often serves as a crucial financial lifeline. Missing out on this opportunity could spell disaster and signal a tough year ahead. However, Black Friday success only happens when opportunity meets preparation. In this post, we’ll outline the key steps businesses in Nigeria can take to prepare for…

The Enugu Directorate of the Economic and Financial Crimes Commission, EFCC, has arraigned one Blessing Amaka David-Agwa, a fake fertility nurse, before Justice Mohammed Garba Umar of the Federal High Court, sitting in Independence Layout, Enugu State. The fake nurse was arraigned on 45-count charges bordering on fraudulent impersonation, forgery, and obtaining by false pretence to the tune of N28,278,600 (Twenty-eight Million, Two Hundred and Seventy-eight Thousand, Six Hundred Naira). Count 41 of the charge reads: “That you, Blessing Amaka David-Agwa, sometime in 2024 in Enugu, within the jurisdiction of the Federal High Court of Nigeria, with intent to defraud,…

The federal government has announced new tax breaks for deep offshore oil and gas production to encourage investment in the sector. It also announced that imports of key energy products and infrastructure, such as diesel, feed gas, liquefied petroleum gas, compressed natural gas, electric vehicles, liquefied natural gas infrastructure, and clean cooking equipment, would no longer be subject to value-added tax. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement in a statement on Wednesday. The statement signed by the Director of Information and Public Relations, Mohammed Manga, said the initiative would position Nigeria’s deep…

Inter Miami forward Lionel Messi scored twice in a 3-2 victory over Columbus Crew, helping the club win the MLS Supporters’ Shield for the first time. After scoring the first goal from close range, the Argentina playmaker doubled the lead for the away team with a magnificent free kick in first-half stoppage time. The lead was cut in half by Crew winger Diego Rossi in Ohio, but Inter Miami’s lead was maintained after Cucho Hernandez’s penalty kick, thanks to a goal from former Liverpool striker Luis Suarez. With their win, Miami will take first place in the standings and achieve…

Arsenal forward Bukayo Saka believes “this is the year” that the Gunners will end their 21-year wait for a Premier League title. Mikel Arteta’s side has finished second to Manchester City for the past two seasons and has not won the title since Arsene Wenger’s ‘invincibles’ side in 2003-04. They are currently third in the table, tied with second-placed City and one point behind leaders Liverpool after six games. “I don’t want to put too much pressure on us but I do think that this is the year [Arsenal win the title],” Saka told CBS Sports at the time. “I…