adsThere is a specific kind of euphoria that comes with a bank alert in Nigeria. It is that high-pitched “ping” on your phone that suddenly makes the world look brighter. Imagine, for a moment, that after months of business plans, back-and-forth meetings, and endless documentation, a commercial bank finally approves your loan. You check your phone, and there it is: ₦50,000,000. In that instant, you feel a surge of power. You feel like a “big boy” or a “madam” who has finally arrived. You might even be tempted to walk into a luxury car showroom or start pricing that designer wristwatch you’ve been eyeing on Instagram. But before you call the car dealer or start planning an “appreciation party” for your friends, you need to hear a very cold, hard truth: that money does not belong to you.
The greatest psychological trap an entrepreneur can fall into is confusing liquidity with wealth. Just because you have the authority to sign a cheque for ₦5 million today does not mean you are a millionaire. That ₦50 million sitting in your account is not a reward for your hard work; it is a temporary guest that has come with a very strict departure date and an expensive “gate fee” called interest. In the world of finance, this is known as leverage, and while it is a powerful tool for growth, it is also a double-edged sword that has decapitated many promising Nigerian businesses.
