Forex trading: Nigeria hosts the world

Nigeria, the most populous black nation, endowed with natural and human resources, leads the sub-region again as it plays host to the conglomeration of multibillion-dollar international firms this week. Forex trading is a business that generates a staggering unequalled and unmatched turnover of over $4tn daily!

Of recent, unknown to many, I can confirm that Nigeria is fast becoming a hotbed for highly liquid foreign brokerage firms as an emerging market. Lagos, the commercial nerve centre and the host city, will be agog in this week with the arrival of multibillion-dollar brokerage firms, investors, traders, analysts etc. The aftermath will be unprecedented.

Now the spiralling effect on the economy will be multi-dimensional. Local banks will reposition to tap into accounts from foreign brokerage firms, investment firms will partner, traders will benefit from new market developments, the public will be more enlightened, voices and faces will be put together. Diversification by traditional BDC’s, Stock broking firms, money changers will soon occur. Many frontiers will soon be opened.

The two-day event is conceptualised and fully packaged by a Nigerian. This brings out the ingenuity which is inherent in us. I have praise for the organiser(s). The employment opportunities in the world of online business, which the government and private sector have not really looked into or focus despite the huge amount of benefits these can bring will offer a new lifeline to our socio-economic activities.

We are presently living in the world of Information Technology and we need to live on it as well to bridge the gap. The world of online trading has benefits for all namely telecommunication firms in terms of Internet access and usage, financial institutions in terms of FCY deposits, commissions and charges on transfers. Our teeming populace, youths, unemployed, retired will soon embrace new profitable careers. If the opportunities are well harnessed, I can foresee, in the next five years, bright Nigerians trading for big-time hedge funds and investment banks, becoming market analysts, trainers, partners etc.

The event puts Nigeria in the eyes of the world. I am optimistic more of the multibillion-dollar firms will soon have their presence and investments in Nigeria. The first of its kind held in Nigeria did produce positive results. Thus, our government agencies or regulatory bodies need to harness the potential this sector will offer. This is an area to bring in investors in a regulated environment, providing the enabling law for a window of opportunities for Nigerians.

Do you desire partnership with foreign brokerage firms and local firms looking for enterprising Nigerians? Do you possess trading skills? How about marketing skills? A lot of job opportunities await Nigerians in these categories.

The event will definitely bring together financial experts, big wigs and other related professionals. As we await these august visitors next week, I wish the organiser and at large Nigeria our great country a hitch-free conference. Visit to register and attend this great event. Nigeria indeed is riding on high shoulders.

It is also an avenue to pick up a career by our teeming youths to reducing our unemployment rate now that access to Internet is getting increasingly commonplace daily. Mobile trading with android phones, BlackBerry and tablets has reduced the once initial cost of trading devices and equipment. Competitive cost of data bundles also gives a wide range of choices for trader.

Market tips for the week Monday 9th – Friday 15th August 2015

Entry (SEP) and exit (TP/SL) could also be at trader’s discretion. Money management strictly advised.


Entry could be at trader’ discretion. Money management strictly advised.

AUDUSD: BUY SEP 0.7340-0.7353. TP: 0.7515. SL: 0.7234

EURUSD: BUY SEP 1.0940 – 1.0953. TP: 1.1130 SL: 1.0870

NZDUSD: BUY SEP 0.6554 -0.6568. TP: 0.6738. SL: 0.6480.

EURJPY: BUY SEP 135.54 -135.94 . TP: 137.10 . SL: 134.00

AUDCAD: BUY SEP 0.9650 – 0.9688. TP: 0.9870 . SL: 0.9573.

EURAUD: SELL SEP 1.4830 – 1.4870 . TP: 1.4661 SL: 1.4972.



BENIN CITY—NO fewer than 20 persons have been killed in the past four days in different parts of Benin City, following a renewed cult war between suspected members of  Eiye Confraternity and Black Axe.

Over 10 persons were said to have been arrested by the Edo State Police Command in connection with the incident.

It was gathered that some of the leaders of the groups are on the run following the collaboration of security agencies with the state government to hunt for the suspects.

Vanguard was informed that the latest face-off was triggered  last Thursday when members of one of the groups went to the home of one of the suspects currently on the run, whose father was said to belong to one of the warring groups to resolve some money related issues.

It was learnt that while they were settling the issue, the suspect went upstairs to fetch a pump action gun and shot a member of the rival cult group on the leg.

The victim was rushed to the hospital by his colleagues while the suspect fled. Consequently, colleagues of the victim mobilised  for reprisal attacks, visiting the homes of members of the rival  group.

It was learnt that the attack led to the killing of a colleague of the suspect who started the shooting at New Benin. As expected, the cult war escalated. There were killings in Idu Owena, after Ugbowo, Isihor, Ugbiyoko, Textile Mill Road, New Benin and Igbesanwa.

Vanguard was reliably informed that no fewer than 20 persons have been killed so far. As a result, night life in Benin City has been affected as people no longer relax in bars in the evenings due to fear of being attacked by the rampaging cultists.

Oshiomhole summons security meeting

Worried by the development, it was learnt that Governor Adams Oshiomhole convened an emergency security meeting last Friday, asking security operatives to fish out the killers. Vanguard learnt that about 10 persons have been arrested so far while efforts were on towards finding a peaceful resolution to the crisis.

The Edo State Police Commissioner, Mr Folounsho Adebanjo, who could not confirm the casualty figure, described the killings as unacceptable and vowed that the police would deal with the situation.

According to him, “we are not relaxing at all. We are in search of the leaders behind this. Some persons have been arrested while some are on the run. The killings will stop because our officers are all on the alert now. I can assure you that anybody arrested will be dealt with very seriously.

“All security agencies in the state are concerned. The governor is equally concerned, residents of the state are concerned. So we will not relent until we stop this madness. It is very sad that people no longer value human lives.”

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