Business
Tope Raine talks about her brand, Fascentscloset, Set to launch website Sept. 17
Running a fashion brand in Nigeria can be tasking and challenging, yet for 4 years, the brand Fascentscloset has survived the tide. Owned by Tope Raine, the fashion brand has over the years catered for all category of people – from young lads to the upwardly mobile class.
In this interview, she spoke passionately about the business and the launch of their new website…
Can we meet you?
My name is Tope Raine, I am Nigerian, I love everything about Nigeria, except for the conflicts and the difficulties we face here, both on the business level and the individual level. I think we can do better in this country, and we should for the sake of our future generation.
What inspired you into setting up this brand?
Well, I’ve always loved fashion, and I have always wanted to share what I love most about fashion. It’s been my drive since I was little.
What services do fascentscloset offer?
What we do is to give people a chance to get their hands on what is current in today’s fashion, whether it’s clothes, shoes, perfumes or accessories, all at the lowest price in Nigeria. We strive to ensure that you will not find a cheaper price anywhere else in the country.
Why the name fascentscloset?
I tried looking for a name that would really capture the essence of what we are really about. For us the name, fascents brings together two essential parts of what we do. First “Fa” was taken out of Fashion and “scents” as we all know is widely used to represent perfumery, and “Closet” is our small way of trying to make people feel more intimated with our brand.
So that’s how we came about our name Fascentscloset.
How long have you been running this business?
We’ve been around for 4 years now, we are young and growing but, we have been able to to reach many parts of the country, so we are young but we are growing everyday.
What makes fascentscloset different from every other fashion store?
First, we don’t do mass, we don’t stock up on mass products. So when you buy a Fascentscloset item, you buy something that’s unique, beautiful and very unlikely to be found in mass.
What is so beautiful about what we do, is that we provide these rare and unique fashion at the cheapest prices that are unbeatable anywhere in Nigeria.
What category of people do fascentscloset cater for?
Everyone! We love everyone. We have something for everyone. We have items for kids, adults, millennials, old people, everyone. No one or no age grade is left out of what we do and what we offer.
Why the need to launch a website?
Very simply, the world we live in now is so intricately connected via the internet, now people can do all they want and meet who they want on the internet. So, that’s why we saw the need to get ourselves out there, and give people a chance to get to meet us, to get to know us and see for themselves what we have to offer.
You can shop with us at www.fascentscloset.com. You absolutely won’t regret it!
What date is the official launch and are there promotions/discounts on selected items?
Wow, Omg!! Okay! So let me start with the first question. We are preparing to launch the website on the Saturday, September 17, 2016…and yes we have something special for the first 100 people who come on to the website on our launch date.
Let me explain that a little. We are going to give discount vouchers, yes N1,000 free vouchers to the first 100 people who shop online. So you get a N1,000 price slash off whatever item you buy on launch date.
How have you been coping business wise with the high exchange rate and economic recession?
Truth is, it’s not been easy, it’s been very difficult to continue to do what you love, but when you love doing something so much, it becomes very difficult also to let it go, that’s why we keep moving forward. It’s been the love for what we do and the passion we have to bring smiles to people’s faces, that’s our driving force and that’s why we wake up everyday to do what we do, regardless of how bad the times have been.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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