In a hole, Charlie needs a million (5)

I believe the answer is:

chasm

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'in a hole' is the definition.
I can't tell whether this definition defines the answer.

'charlie needs a million' is the wordplay.
'charlie' becomes 'c' (phonetic alphabet: alpha, bravo, charlie etc.).
'needs' becomes 'has' ('have' can be a synonym of 'need').
'a million' becomes 'm' (abbreviation).
'c'+'has'+'m'='CHASM'

Can you help me to learn more?

(Other definitions for chasm that I've seen before include "Pit" , "rent" , "Gorge" , "One gapes" , "Yawning gap" .)

I've seen this clue in the Evening Standard.

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