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When Money Moves, So Do the Rules: Lessons for African Entrepreneurs

When Money Moves, So Do the Rules: Lessons for African Entrepreneurs. By: Chidike Edmond Ojuyenum In today’s Africa, business success is as much about navigating the financial ecosystem as it is about selling a great product. Recent reports, from the IFC’s work on MSME finance to Transparency International’s survey on corruption, paint a clear picture: access to funding, trust, and regulation are deeply intertwined. For small and medium-sized businesses (SMEs), financing remains a major hurdle. Banks and financial institutions often see MSMEs as high-risk, while entrepreneurs face complex requirements that stifle growth. The gap isn’t just about money—it’s about trust, credit history, and navigating bureaucracies. At the same time, transparency—or the lack of it—can make or break business environments. Corruption still bleeds billions from African economies, creating hidden costs for honest businesses and deterring both local and foreign investment. Policy shifts can also chang...

Why We Fear Failure (Especially in Africa): A Deep Dive into Shame, Biology, and Breaking the Loop

Why We Fear Failure (Especially in Africa): A Deep Dive into Shame, Biology, and Breaking the Loop By Chidike Edmond Ojuyenum In 2022, I stood on a brightly lit stage, pitching my heart out at a business reality show. I had the suit. I had the swagger. I believed I had the idea. But when the judges responded with a cold “thank you” and a dismissive nod, it felt like the floor vanished beneath me. That night, I didn’t just mourn a lost opportunity—I mourned my confidence. The silence that followed wasn’t peaceful. It was loud. Deafening. And beneath it all, there was one emotion I couldn’t shake: shame . You probably know the feeling. That invisible heat that rises after a failure, the kind only you can smell—but you’re convinced the whole world notices. But why does failure hurt so deeply? And why does it sting even more in Africa? Our brains are wired for survival. Thousands of years ago, failing in a tribe meant missing the hunt—or being left behind. Rejection, then, was d...

My Top 5 Lessons from Failure - Chidike Edmond

My Top 5 Lessons from Failure By Chidike Edmond Ojuyenum Between 2009 and 2024, I launched 9 startups. None survived. But I did. Failure is often seen as the end — a red stamp of shame. But for me, it was initiation. Each collapse gave me insight that no classroom could. Here are the 5 most important lessons I’ve learned from failing repeatedly and rising anyway : 1. Vision is not enough — Execution is King: A brilliant idea means nothing without discipline, structure, and daily momentum. I had dreams, but not systems. Now, I don’t just dream — I draft, delegate, and deliver. 2. The wrong team will kill a right idea: I used to believe passion was enough. It's not. If your team doesn’t share your urgency, your standard, or your code, your business is on borrowed time. Build slow, hire wise. Chidike Edmond (c) 2015 3. Money is not the problem — mindset is: Most of my early failures weren’t because I lacked funds, but because I lacked clarity, accountability, and stewards...

Tinubu’s New Tax Laws: What Do They Mean for You and Nigeria?

Tinubu’s New Tax Laws: What Do They Mean for You and Nigeria? By [Chidike Edmond Ojuyenum] On June 26, 2025, President Bola Ahmed Tinubu signed four big tax reform bills into law. You might have heard about it on the news — but what does it really mean for you, your wallet, and the country? President Tinubu called it “the way forward for our country’s prosperity.” But let’s bring it down from government speeches to everyday life. So, What Are These New Tax Laws? The new laws are: Nigeria Tax Act (NTA), 2025 – Combines many old tax laws into one clear rulebook. Easier for businesses and citizens to know what to pay. Nigeria Tax Administration Act (NTAA), 2025 – Sets a single, modern system for tax administration nationwide. Less confusion, fewer overlaps. Nigeria Revenue Service Act (NRSA), 2025 – Replaces the old FIRS with a stronger, more independent Nigeria Revenue Service (NRS). They’ll be better equipped to collect taxes fairly and efficiently. Joint Revenue Bo...

Why African Entrepreneurs Struggle to Access Loans and Grants

"Why African Entrepreneurs Struggle to Access Loans and Grants" By Chidike Edmond Chidike Edmond Ojuyenum Founder & CEO, Nova Gate Limited When people ask me why entrepreneurs in Africa struggle to access loans and grants, I don't just hear a question — I relive a story. My story. Our story. In 2022, I stood before a panel of investors at a business reality show. I was hopeful, dressed for success, and armed with a vision I believed in. But what met me was not applause or critique — it was silence. Cold, confusing silence. Not because my idea lacked potential. But because I didn't know their language — the language of pitch decks, business models, and scalable metrics. I hadn't been taught. And they didn't bother to translate. Later, I applied for a ₦3 million SME loan. Again, I believed I was ready. But I had no guide. No mentor. No knowledge of the paperwork maze ahead of me. I failed — not for lack of vision, but for lack of access. And that's th...

[Poem] Chidike Edmond – Reasons

[Poem] Chidike Edmond – Reasons Chidike Edmond @chidikeedmond On Saturday the 21 st of April 2018, I recorded a poem and placed it on Naijapals. CLICK HERE TO SUBMIT YOUR ARTICLE FOR PUBLICATION As at the time of making, the message was not specific to any thoughts as it did to me few moments ago. Suddenly, I felt the need to look back; the place where am coming from and where I am now. Surely, love had kept me for a purpose. CLICK HERE TO ORDER Here is a copy of the caption and lyrics i wrote on Naijapals: “It’s been a while I last voiced, the thoughts in my heart are frozen but not obsolete. I reserved the moment for some special events that has troubling effects. But I am far from retirement. Here is a short poetry which is set to hold even the deepest reasons to the pain I endure. See you soon” LYRICS: Reasons; we have our reason to do crazy reckless things in life. Most of us can’t help it in lots of cases, but if the reason is love, may...

NGX Declines as Selloffs Hit BUA, Stanbic IBTC

NGX Declines as Selloffs Hit BUA, Stanbic IBTC Photo Credit: iPleaders The equities segment of the Nigerian Exchange, NGX, experienced a bear-bull fight that plunged market valuation downward following specific selloffs on some companies’ shares. The negative price movement of large and mid-cap stocks like BUA Cement Plc which declined by 1.6% and 5.8% price down in STANBIC IBTC market valuation, thus undermining the market’s performance. Consequently, the key performance indicator or the Nigerian Exchange All share index declined 0.08% week on week to 54,892.53 points due to profit-taking in some defensive stocks with strong fundamentals. Data from the exchange showed that the market capitalization declined by N23.24 billion week on week to N29.90 trillion. Investors’ decision to take profit dragged year-to-date return to 7.11% from 8.87% in the previous week. At the close of the week, the level of market trading activities was positive as the total number of deals decreased by ...

BANK ISSUE FRESH UPDATES AS CBN CIRCULATES NAIRA NOTES

Banks Issue Fresh Updates as CBN Circulates Naira Notes Photo Credit: TheCable.ng In response to the Central Bank of Nigeria’s (CBN) decision to reverse its naira redesign policy, deposit money banks have announced adjustments to cash withdrawal limits placed on individuals and corporate. Reverting to the old order, the weekly withdrawals limit has now been upgraded strongly while banks said there is no requirement to generate reference codes for cash deposits has also been discontinued. Today, the apex bank floods banks with naira notes to assuage the ongoing cash crunch in the economy. It also directed all commercial banks to open for operation on Saturdays and Sundays to reduce the lingering cash crunch in the economy. The CBN also confirmed on Friday that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers. After the Supreme Court order that upturned the CBN plan to remove old c...

Chidike Edmond: Who Am I?

MY VISION, MISSION AND MY OBJECTIVE I am Chidike Edmond Ojuyenum (De C.E.O); I'm here to cause a change. So I consciously want to be known as the one that causes positive things to happen, pursuing my dreams. Chidike Edmond @ Rapid 96.5FM Live Studio I understand that a dream (even a prophecy) will remain a dream (just a spoken word) unless accompanied with action. Hence, I labor my youth because life took away from me my soft landing; that I may learn, gain and sustain the power to preserve that which is of good virtue. I pray for an early retirement, not that I may leave this earth early. But, I may stay alive longer than a decacentennial. Yet, climb the mountains effortlessly. I am a growing serial entrepreneur and a sustainable leader (role model: Tony O. Elumelu, CFR). A keynote speaker and a Mechanical Engineering Technologist (working my way up to become an Engineer). My childhood desire to pursue a career in aviation as a captain was truncated by death f...