5 Wealth-Building Strategies for Nigerian Women-led Businesse By Chinwe Iwobi, Head of Wealth Management, FairMoney Microfinance Bank In Nigeria, women are the backbone of our economy. Data from the National Bureau of Statistics shows that women own approximately 40% of small and medium-sized enterprises across the country (NBS Country Data Overview 2023). Yet despite their outsized contribution to GDP, women-led businesses continue to face systemic barriers to the capital and financial infrastructure needed to scale. The cost of that gap is not abstract. When these entrepreneurs are held back, the ripple effect runs deep, from household stability to the education…
Author: FinTech Today
FairMoney Strengthens Corporate Governance; Appoints Gbenga Shobo and Debo Aderoju to the Board [LAGOS, NIGERIA] March 16, 2026 – FairMoney Microfinance Bank, one of Nigeria’s leading technology-driven financial institutions, today announced the appointment of seasoned banking professionals, Gbenga Shobo as Chairman of the Board, and Debo Aderoju as Executive Director and Chief Risk Officer. The appointments are part of the Bank’s ongoing efforts to strengthen its corporate governance structure and executive leadership capacity respectively, as it expands its footprint in Nigeria’s fast-growing digital financial services sector. These strategic appointments mark a significant milestone in FairMoney’s institutional evolution, underscoring a…
1. FairMoney – Highest Potential Returns (Promo + Fixed Plans) Interest: Up to promotional ~30% but more realistic long-term ~16–28% on lock savings. (FintechTodayNews) Why It’s Great: Big intro promo rates for new users and solid fixed-deposit options that can beat traditional banks — ideal for disciplined savers. Best For: Users willing to lock funds for higher yields. 2. PiggyVest – All-Round Savings & Goal Tools Interest: Typically up to ~12–13% per year on locked plans. Why It’s Great: Automated savings, goal tracking, and flexible wallets (including dollar savings). Very secure and beginner-friendly. Best For: Long-term goals, habit savings &…
Executive Summary SCOA Nigeria Plc has emerged as one of the standout performers on the Nigerian Exchange (NGX), delivering an extraordinary 437% year-to-date return in 2026. The stock has surged from N7.10 at the start of January 2026 to N38.15 by the end of February, ranking it second among the best-performing stocks on the Exchange. This remarkable rally builds on an already impressive 245% gain recorded in 2025, when the stock climbed from N2.06 to its year-end close. For investors who recognized the opportunity early, the returns have been life-changing – a N1 million investment in January 2025 would now…
US Strikes on Iran: What It Means for Africa and Nigeria’s Economy The United States launched targeted military strikes on Iranian nuclear and military facilities over the weekend, triggering immediate global market volatility and raising concerns about supply disruptions in the Strait of Hormuz. While the conflict is centered in the Middle East, the economic shockwaves will reach African shores within days, with Nigeria facing particular exposure through oil price fluctuations, inflationary pressure, and capital flow reversals. I have analyzed how geopolitical events in the Middle East transmit to African markets through three previous crises: the 2003 Iraq invasion, the…
The Nigerian naira closed February 2026 at N1,368.5 to the dollar, strengthening 2.3% from January’s close of N1,400.2 and marking four consecutive months of appreciation. The currency has now gained 8.7% against the dollar since October 2025, defying analyst predictions of renewed pressure following the partial removal of fuel subsidies in January. This sustained stability matters for every segment of Nigeria’s economy. Importers see reduced costs. Manufacturers can plan without hedging against currency collapse. Foreign investors face lower exit risks. For a currency that traded above N1,600/$ as recently as August 2025, the N1,368 level represents a psychological threshold that…
The telecommunications sector has cemented its position as the engine of Nigeria’s digital economy, driving the Information and Communications Technology sector’s contribution to national GDP to 10.07% in 2025. Data released by the National Bureau of Statistics shows the ICT sector generated N23.4 trillion in nominal terms during the year, with telecom services accounting for 78% of that output. This milestone matters for investors, policymakers, and entrepreneurs tracking Nigeria’s economic transformation. At 10.07%, ICT now contributes more to GDP than the oil sector, which fell to 5.8% in 2025 as production challenges persisted. For the first time in Nigeria’s history,…