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5 Money Mistakes Nigerian Girls Are Making

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Every girl makes mistakes with money at some point in time: not planning adequately, not saving enough, spending recklessly on something frivolous e.t.c.

Unfortunately, some Nigerian girls seem to be eternally stuck in the miry clay of certain money mistakes and are not even aware of how these financial pitfalls are significantly derailing their finances.

Managing money effectively is a key success skill for any sensible Nigerian girl, but to make the decision to become effective with money requires that they first identify what their weakness are and which areas they have been making money mistakes.

Are you a Nigerian girl itching to get your finances right but wondering what money mistakes you are probably making? Jumia Travel, Africa’s No.1 hotel booking portal shares 5 money mistakes Nigerian girls are making.

Not Acting Their Wage
Nigerian girls are super hard working, they strive to make a living for themselves and that is great.
However, a major problem most of them have, especially in Lagos and Abuja, is their tendency to live above their means and not act their wage.
They over-spend on the little things – the small amounts that seep out of their pockets here and there and eventually become large, as well as on big things like buying a car or renting a lavish apartment in Lekki Phase 1; when they are earning just about NGN150,000  a month.
As a Nigerian girl, if your outflow exceeds your income, then your upkeep will be your downfall. Basically, it’s not about the amount you make, but the amount you spend that is the problem.

Supporting A Broke Boyfriend
The social situation in Nigeria today seems to be different as girls seem to be much more proactive and earning better, while the men seem to have become a bit lazy and there are more broke guys in their late 20s, 30s, and even 40s than there should be.
Unfortunately, Nigerian girls seem to be emotional and these broke guys know how to pull their strings.
They leech off these women for sustenance, literally depending on them for everything from daily spending money to toothbrush. For the Nigerian girl, spending money and supporting a lazy and broke boyfriend is a huge money mistake.
Pouring money into a feckless boyfriend is like investing in a company you own no part of. It is important that the Nigerian girl ensures she is on the same page, or at least in the same book financially with any boyfriend. That way, her finances are not completely depleted.

Going Into Debt Over A Big, Fancy Wedding
Every Nigerian girl getting married in 2016 wants an ostentatious wedding that will be featured on BellaNaija Wedding.
This implies pre-wedding photoshoots, exquisite designer wedding ceremony gown and wedding reception gown, hiring a wedding planner, lavish wedding venue and decorations, premium coverage as well as a fabulous honeymoon.
To achieve this desire/goal, a number of these girls drain their groom financially and still go into debt. Nigerian girls need to remember to invest in the marriage rather than the wedding event, as life continues afterward.
In fact, a simple rule every single Nigerian should try to live by is this: If you are not in debt, do not get into debt.

Going Without a Budget
A number of Nigerian girls fail to keep track of how much money they spend per time as they do not have budgets. They are huge on impulse buying and so, tend to make a lot of financial mistakes in that regard.
The truth is, no matter how shrewd a Nigerian girl is with her spending, she will still need a budget. A budget helps control spending and reveals where improvements need to be made. With a budget, it is easier for the Nigerian girl to reach her financial goals as she will know where her money is going and plan in advance how to spend it.
Budgeting is actually very easy if she follows the 50/20/30 Rule which says that from the take-home pay, 50% should be allocated to essential expenses; which include housing, transportation, utilities and groceries; 20% to financial priorities; which are retirement, savings and debt (in that order) and 30% to lifestyle choices; which are gifts, travel, dining out, shopping and everything else.

Living Paycheck to Paycheck
Most Nigerian girls may have a budget and live within their means, but still not have savings. While it is great to know where every naira will go, the reality is that no one can predict everything.
For this reason, it is important for Nigerian girls to stop living paycheck to paycheck and instead create a budget that would include a small emergency fund that could cover unexpected expenses or surprise doctor’s bill and provide a cushion that will also prevent them from overdrawing on their checking account and paying unnecessary financial fees.

 


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E-Financial

Fidelity Bank “Basking in Approval” under Onyeali-Ikpe, CEO

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Fidelity Bank Plc is basking in endless and stakeholders are happy.

Fidelity Bank "Basking in Approval" under Onyeali-Ikpe, CEO

Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc

With nearly 10 million customers, Fidelity Bank is demonstrating excellent market traction.

This a crucial evidence for investors that the bank is solution driven.

For instance, at the capital market, the bank was the toast of investors as  its market value surged amid bargain hunting on the Nigerian Exchange, with investors gaining more than 11 percent after few days of tradings last week only.

Fidelity Bank’s share price increased to N22.30 at the close of the market last Friday, as 11.227 million units valued at N251.523 million.

Investors are simply reacting positively to strong earnings, technology-driven growth, and strategic expansions.

Fidelity Bank, emerged a more robust financial institution after the Central Bank of Nigeria (CBN) and  the Securities and Exchange Commission (SEC) ordered massive banking recapitalization exercise.

Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc, is being credited for driving these exceptional shareholder value, operational performance, and sustainable growth.

Despite the immense responsibility and intense pressure, especially during turbulent times,  Onyeali-Ikpe, has been strutting her stuff by strategic vision and exemplary leadership.

Onyeali-Ikpe has built Fidelity Bank as beacon in the banking industry underpinning the bank with trust, innovative technology, strategic growth, and strong leadership as well as  reputation.

She has broken every glass ceilings delivering milestones and solid imprints in the annals of banking.

The bank only recently completed CBN-verified share allotment, hitting N532 billion capital.

This heavy chest now guarantees the bank long-term stability, and enabling it operate with speed.

Since appointment on January 1, 2021, Onyeali-Ikpe, has-anchored the bank on bespoke digital, financial, and technology-driven tools designed to enhance customer experience.

By integrating AI, automation, and advanced data analytics, Fidelity Bank is today delivering solution banking.

Under Onyeali-Ikpe’s leadership, the bank has significantly improved brand equity.

Fidelity Bank also announced the completion of the acquisition of a 100 per cent stake in Union Bank UK, under the CEO.

A recent Brand Finance report ranked Fidelity Bank as the fastest-growing Nigerian brand, with its brand value more than tripling.

Onyeali-Ikpe was also named among the 2024 Most Influential Global Top 100 Export and International Trade Leaders, recognizing her contribution to expanding Nigeria’s trade and export financing capabilities.

Under her, Fidelity Bank has received multiple awards, including Export Finance Bank of the Year (2023 BAFI Awards), Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 (Global Banking and Finance Awards).

The bank was also recognized by Euromoney for Best Bank for SMEs (2023) and Best Domestic Private Bank in Nigeria (2023).

Onyeali-Ikpe will be leaving as head of the bank this year but her record of placing the institution  upward trajectory will be indelible.

She may be leaving “big shoes to fill” because of her high-energy, infectious positivity which made her successful in everything she does.

 

 

 

 


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FCMB, BHM Champion New Revenue Models for Media Sustainability

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First City Monument Bank (FCMB), in partnership with BHM, hosted the pilot edition of The Monetised Content Masterclass, bringing together reporters, content creators and editors to address growing pressure on the sustainability of newsrooms and media platforms.

FCMB, BHM Champion New Revenue Models for Media Sustainability

L-R: Adeola Adejokun, Head, Communications, First City Monument Bank; Chris Ihidero, Award-winning Director and Producer; and Diran Olojo, Divisional Head, Corporate Affairs, First City Monument Bank, during the Monetised Content: A Media Masterclass Presented by FCMB and BHM, in Victoria Island. Lagos on Monday, April 20, 2206.

The session comes at a time when traditional advertising revenues are declining for news publishers, even as Nigeria’s entertainment and digital media market continues to grow and is projected to reach $4.9 billion by 2026.

Against this backdrop, the masterclass focused on practical ways for media organisations, independent content creators, and digital platform owners to diversify income, build financial resilience, and sustain editorial independence and integrity.

Participants explored revenue opportunities beyond traditional advertising, including brand partnerships, digital content monetisation, and audience-led models. The one-day session featured panel discussions, Q&A sessions, and peer exchanges designed to translate industry trends into practical action.

Speaking at the event, Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, said: “Traditional models are under pressure, and attention is more fragmented than ever. The focus now is on building structured, sustainable platforms that can deliver both impact and long-term value.”

Also speaking, CEO and Founder of BHM, Ayeni Adekunle, said: “The economics of media have changed. For journalism to remain independent, it must also become financially resilient. That shift requires new thinking and deliberate action.”

The session was moderated by Fatu Ogwuche, Founder and CEO of Big Tech This Week, and featured speakers including investigative journalist Fisayo Soyombo, storyteller and producer Chris Ihidero, executive and storytelling expert Jennifer Mairo, and digital media entrepreneur Peter Oluka.

The initiative reflects a shared commitment by FCMB and BHM to support the long-term sustainability of the Nigerian media ecosystem through capacity building and industry collaboration.


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CRMI Backs CBN’s New Measures to Curb Fraud

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Chartered Risk Management Institute of Nigeria (CRMI) has backed recent regulatory measures by the Central Bank of Nigeria (CBN) aimed at strengthening the security of the country’s digital financial ecosystem, while urging stricter compliance across the banking industry.

CRMI Backs CBN’s New Measures to Curb Fraud

Kevin Ugwuoke, president and chairman of Council,  in a statement, described the new framework as a timely and proactive response to rising risks such as fraud, identity theft, and unauthorised access within the instant payment system.

He noted that key safeguards introduced by the apex bank including a N20,000 transaction limit on newly activated mobile banking applications within the first 24 hours, mandatory device binding, and real-time enterprise fraud monitoring are designed to reduce vulnerabilities associated with account takeovers, especially during the early stages of account activation.

“By limiting transaction exposure during the high-risk activation window, the framework significantly reduces the opportunity for fraudsters to exploit newly onboarded or compromised accounts,” Ugwuoke said.

The institute, however, stressed that the success of the measures would depend largely on effective implementation.

It called on banks, fintech firms and payment service providers to strengthen cybersecurity infrastructure, invest in fraud analytics and prioritise staff training as well as customer awareness.

CRMI also welcomed the introduction of the Nigerian Overnight Financing Rate (NOFR), describing it as a major step toward standardising overnight funding rates, deepening financial markets and improving monetary policy transmission in line with global best practices.

The endorsement comes as the CBN unveiled a draft revised Guide to Charges for Banks and Other Financial Institutions, 2026, signalling a broader shift toward transparency, consumer protection and efficiency in the financial system.

The revised guide introduces caps on key banking charges and mandates stricter disclosure requirements.

Under the framework, interbank transfers between N5,000 and N50,000 are capped at N10, while transactions above N50,000 attract a maximum of N50, with transfers below N5,000 remaining free.

The apex bank also standardised ATM withdrawal charges, pegging fees at N100 per N20,000 for on-site withdrawals from other banks’ machines, while off-site transactions may attract an additional surcharge of up to N500, subject to disclosure at the point of use.

In a bid to protect borrowers, the regulator directed that all lending rates be presented as Annual Percentage Rates (APR), ensuring full disclosure of interest and associated fees.

 


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