The return of the historic Lagos Fanti Carnival has brought more than just music and dance—it has provided a major boost for small businesses, artisans, and creative entrepreneurs on Lagos Island. Governor Babajide Sanwo-Olu, who attended the e… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Fanti Carnival revival boosts small businesses, cultural tourism on Lagos Island By sbinsights on April 21, 2025 The return of the historic Lagos Fanti Carnival has brought more than just music and dance—it has provided a major boost for small businesses, artisans, and creative entrepreneurs on Lagos Island. Governor Babajide Sanwo-Olu, who attended the event, described the carnival as a "powerful reconnection to our roots" and a celebration of Lagos' rich Afro-Brazilian heritage. The Fanti Carnival, which dates back to the 1800s, was introduced by Afro-Brazilian returnees and is known for its vibrant costumes, samba rhythms, and cultural artistry. This year's edition featured key attractions such as an Afro-Brazilian food showcase, a heritage art exhibition, and a grand street parade, all of which attracted crowds and created trading opportunities for local vendors, food sellers, fashion designers, and performers. Read also AfDB's SAPZs to tevive Nigeria's agro-export dreams Fanti Carnival revival boosts small businesses, cultural tourism on Lagos Island SEC warns influencers, celebrities against promoting unregistered investment schemes NCDF opens ₦50m accelerator programme for Nigerian startups, SMEs FG partners UK to reform gas regulations, boost investor confidence, infrastructure Beyond cultural celebration, the carnival demonstrated the economic potential of heritage tourism to empower micro-businesses and stimulate local economies. Many entrepreneurs saw increased sales and visibility as tourists and residents alike came out in numbers. The event also spotlighted the importance of preserving cultural festivals not just for their historical value but as a means of sustainable livelihood for creatives and SMEs within the city.

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The Securities and Exchange Commission (SEC) has issued a stern warning to influencers, bloggers, and celebrities against endorsing unregistered investment schemes, citing the legal risks under the newly signed Investments and Securities Act 2025. … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader SEC warns influencers, celebrities against promoting unregistered investment schemes By sbinsights on April 21, 2025 The Securities and Exchange Commission (SEC) has issued a stern warning to influencers, bloggers, and celebrities against endorsing unregistered investment schemes, citing the legal risks under the newly signed Investments and Securities Act 2025. According to the commission, the updated legislation—recently signed into law by President Bola Tinubu—provides clearer definitions of Ponzi schemes and empowers the SEC to impose penalties of at least ₦20 million and up to 10 years' imprisonment for promoters. The SEC's Director-General, Emomotimi Agama, noted that the commission is working with the EFCC, Nigeria Police, and other law enforcement agencies to investigate and prosecute individuals and platforms involved in fraudulent investment promotions. Read also SEC warns influencers, celebrities against promoting unregistered investment schemes NCDF opens ₦50m accelerator programme for Nigerian startups, SMEs FG partners UK to reform gas regulations, boost investor confidence, infrastructure ACCI president urges business community to embrace resilience, innovation this easter UN women pushes for inclusive procurement to empower women-led smes with disabilities "The law also targets those who use their platforms to promote unregistered entities," Agama said. "We are therefore warning such persons to desist or face the full weight of the law." The crackdown follows the recent collapse of CBEX, a digital investment platform accused of defrauding Nigerians of over ₦1.3 trillion. Agama affirmed the SEC's commitment to shutting down similar operations and protecting unsuspecting investors.

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The Nigerian Capital Development Fund (NCDF), in partnership with the National Board for Technology Incubation and the London School of Social Enterprise and Sustainable Economics, has announced the launch of the 2025 Fortune Entrepreneur Accelerato… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader NCDF opens ₦50m accelerator programme for Nigerian startups, SMEs By sbinsights on April 21, 2025 The Nigerian Capital Development Fund (NCDF), in partnership with the National Board for Technology Incubation and the London School of Social Enterprise and Sustainable Economics, has announced the launch of the 2025 Fortune Entrepreneur Accelerator, Summit, and Venture Capital Programme. The initiative aims to identify and support 1,000 high-potential Nigerian startups and SMEs operating in key sectors including agriculture, energy, fintech, healthcare, manufacturing, the creative economy, and climate innovation. It will culminate in a national summit scheduled for September 2025 in Benin City, Edo State. At the heart of the programme is the NCDF Opportunity Growth Fund, which offers equity funding of up to ₦50 million to selected businesses. The fund is designed to unlock over $10 billion in long-term value, while driving youth empowerment, job creation, and industrial growth. Read also NCDF opens ₦50m accelerator programme for Nigerian startups, SMEs FG partners UK to reform gas regulations, boost investor confidence, infrastructure ACCI president urges business community to embrace resilience, innovation this easter UN women pushes for inclusive procurement to empower women-led smes with disabilities Akwa Ibom moves to boost small businesses through tourism According to Hareter Babatunde Oralusi, Executive Chairman of NCDF, the programme is not just about startup support, but about building globally competitive enterprises that can power Nigeria's innovation-driven economy. The eight-week accelerator will provide participants with hands-on business development, regulatory compliance training, and investor readiness support. Finalists will pitch to investors and exhibit their solutions at the Fortune Entrepreneur Summit. Eligible applicants must be Nigerian entrepreneurs aged 18 to 45, running businesses at the idea, MVP, or early growth stage. The programme particularly welcomes women-led, youth-driven, and tech-enabled enterprises with strong social and economic impact. The participation fee is ₦50,000.

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