FMDQ Faces 67% Trading Volume Loss As CBN Shifts To Internal Platform
The FMDQ Securities Exchange has recorded a sharp 67% drop in trading volumes after the Central Bank of Nigeria (CBN) redirected most of its foreign exchange transactions to its own internal platform. This shift has significantly reduced activity on FMDQ, raising concerns among market operators about transparency and liquidity. Analysts argue that the move by […]
CBN restricts BDCs to $25,000 Fx weekly and one dealer bank
The Central Bank of Nigeria (CBN) has introduced new guidelines for Bureau de Change (BDC) operators to regulate the forex market and prevent misuse. To improve transparency, both dealer banks and BDCs must submit reports to the CBN: These reports will help the CBN track forex movements and prevent illegal activities. BDCs can only sell […]
Lies na water’ – Denilson Igwe doubts Mark Angel’s claim of losing $3.7M trading forex
In a recent Instagram post, popular content creator Denilson Igwe expressed disbelief over Mark Angel’s claim of losing $3.7 million in forex trading. According to Mark Angel, 2024 has been the toughest year of his life due to this massive financial loss. His revelation quickly gained sympathy from fans, but Denilson doesn’t seem convinced. Denilson […]