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The Transformative Power of Social Media in Business: Insights from the Creative Director of LashedbyTess

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In an era where digital interaction reigns supreme, social media has fundamentally transformed how businesses operate. Gone are the days of one-way communication; today, brands engage in dynamic dialogues with their customers, fostering community and loyalty in real time. This editorial delves into the manifold benefits of social media for businesses, accentuated by insights from Tessy, the Creative Director of LashedbyTess.

Social media has revolutionized customer engagement. Unlike traditional advertising methods—where brands communicated through static media like TV or print, platforms like Instagram and TikTok allow for immediate, interactive conversations. As Tessy notes, “Social media has greatly impacted the way we connect with our customers. It allows us to engage in real-time conversations, close sales, gather feedback, and build a community around our brand.” This two-way communication makes customers feel valued, ensuring their opinions are heard and considered.

The immediacy of social media enables brands to receive real-time feedback from customers post-purchase. Tessy has observed this firsthand: “User-generated content has greatly helped improve my business, as it shows real people using the product and the effect it has on them.” By encouraging customers to share their experiences, brands can build trust and credibility, enhancing loyalty. The positive experiences shared by customers not only influence potential buyers but also reinforce the brand’s authenticity.

Social media advertising is both cost-effective and precise. Brands can target specific demographics based on interests, habits, and locations, significantly boosting conversion rates. Tessy emphasizes the power of targeted advertising: “We’ve seen a significant increase in brand awareness since we started using platforms like Instagram and TikTok. Our follower count has grown by over 300% in the past year.” Such precision allows businesses to allocate their marketing budgets more efficiently while maximizing reach and impact.

One of the standout advantages of social media is the wealth of data it provides. Platforms like Facebook and Instagram offer powerful analytics tools that help businesses track engagement metrics, demographics, and even customer sentiment. As Tessy points out, “This data helps us refine our marketing strategies and tailor our products to meet customer needs.” In contrast to traditional analytics methods, which often lacked accuracy, social media analytics provide actionable insights that enable businesses to adapt and thrive.

Despite its many advantages, the ever-evolving nature of social media presents challenges. Tessyacknowledges the difficulty in keeping up with trends and managing negative feedback: “The landscape is always changing, and keeping up can be difficult. However, we view these challenges as opportunities to improve.” This proactive approach to potential setbacks demonstrates the resilience that businesses must cultivate in the digital age.

For businesses looking to enhance their social media presence, Tessy offers valuable advice: “Start by understanding your audience. Create content that resonates with them and be authentic. Don’t just sell; engage!” Building genuine relationships is crucial, and maintaining a consistent online presence is key to long-term success.

 

In conclusion, the impact of social media on business is profound and multifaceted. It has redefined customer engagement, facilitated real-time feedback, optimized marketing strategies, and provided invaluable analytics—all while fostering authenticity and community. As businesses navigate this digital landscape, those that embrace these changes will not only survive but thrive in an increasingly connected world. The possibilities for growth and creativity are indeed limitless.

Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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