Leading foreign investment firm, MBA Forex International, its partners AFX Group UK and Fintec Global Markets have partnered to deepen the forex market in giving a robust platform, security of funds and get the naira quoted in the forex market.

L-R AFX Group UK Business Development and Sales associate, Mr. Claude Herve; Country Manager, Fintech Global Markets Engr. Joel Adoki ; Chief Executive Officer MBA Forex International Mr. Maxwell Odum and Head of Back office and Trade Desk AFX Group UK, Mrs. Natalia Stetco during a session at a one day Financial Investors Summit held in Lagos on Saturday.

The chief executive officer of MBA forex, Mr Maxwell Odum revealed this at the company’s financial investors summit for 2019 held in Lagos.

Odum said there is need to push for the Nigerian currency to be quoted in the forex market, saying that “The summit is timely when we need to give financial stability in our economy, to individual’s life and making sure everyone has opportunities to gain financial freedom.”

According to him, many Nigerians were still facing instability with their funds. Nigerians are hungry for a change in their finances and stability of their funds. We want to change the narrative and horrible experiences.

“The 2019 MBA Forex financial investors’ summit was birthed by the recent business partnership between MBA Forex and AFX Group that is now the parent body of MBA Forex Limited.

“The partnership stands to open more secure non-banking liquidity platforms for the Nigerian market and Africa as a whole.”

Also speaking, the Business Development and Sales Associate AFX group UK, Mr. Claude Harvard, expressed concerns over the negative experiences of some Nigerians who invested in forex. Harvard described the summit as an amazing opportunity for Nigerians to learn about the global trends in forex.

He said, “The financial world is changing and there are lots of opportunities that Nigerians can explore. Most of the brokers operating in Nigeria are not regulated and this has made a lot of people to get the wrong information and act wrongly.

READ ALSO: FG will not abandon ongoing projects – Ogbonnaya Onu

“The whole world is in some sort of recession. There is a trade war which is a global business world war. It involves the financial institutions of some countries trying to destroy another country using the financial sectors. For instance, having challenges with the value of naira could be an attempt to control Nigeria oil prices.”

The chief operating officer of MBA Forex, Mr Ede Peters noted that “Forex is not a Ponzi scheme, it has been in operation for more than 70 years and is a business of about $6 trillion on daily basis.

“It is the biggest and the largest market in the entire world, we want Nigerian youths to participate in it. This has helped in reducing unemployment in a country like China.

Country manager, Fintec Global Markets, Engineer Joel Adoki called on government to regulate and control the forex market.

He said to keep risk level minimal and to control people’s investment, government has to come in, saying that “If people see government involvement in it they will want to come in because the regulatory body can stand as the middle man between the broker and the investors and the regulatory body will ensure also that the brokers do not use investors money to run their own personal affairs.”

Experts Urge FG to Regulate Forex Market

Experts speaking at the panel session during the summit also called on the Federal Government to step-in in regulating the Foreign Exchange Investment market in Nigeria.

The Panelists include – Chief Executive Officer MBA Forex International Mr Maxwell Odum; AFX Group UK Business Development and Sales associate, Mr Claude Harvard; its Head of Back office and Trade Desk Mrs Natalia Stetco and- Country Manager, Fintech Global Markets Engr. Joel Adoki.

Adoki said to keep risk level minimal and to control people’s investment, government has to come in to regulate the Forex sector.

“If people see government involvement in it they will want to come in because the regulatory body can stand as the middle man between the broker and the investors and the regulatory body will ensure also that the brokers do not use investors money to run their own personal affairs.”

On his part, Mr Claude Havard noted that investors’ money can only be protected better by government regulatory body to ensure a stable and fraud-free market.

“Investors money can only be protected by government regulatory body. The body becomes the middleman between the brokers and investors. Most times, investors cheat the brokers by using anonymous software and all other forms of fraudulent applications. The only common ground is the regulatory body to ensure protection.

He said, “The financial world is changing and there are lots of opportunities that Nigerians can explore. Most of the brokers operating in Nigeria are not regulated and this has made a lot of people to get the wrong information and act wrongly.

“The whole world is in some sort of recession. There is a trade war which is a global business world war. It involves the financial institutions of some countries trying to destroy another country using the financial sectors. For instance, having challenges with the value of naira could be an attempt to control Nigeria oil prices.”

Natalia on her part said government must ensure the market is protected from the inside.

“We should all work to ensure that everything is fully regulated. It is important for the government to know that the industry must be protected from inside.” She said.

MBA Forex International Chief Executive officer, Maxwell Odum in his submission stressed the need to push for the Nigerian currency to be quoted in the forex market, saying that “The summit is timely when we need to give financial stability in our economy, to individual’s life and making sure everyone has opportunities to gain financial freedom.”

Odum said the whole financial investment plan which is in the area of Foreign Exchange (Forex) trading is quite expedient at a time when many Nigerians are complaining about financial difficulty but will not mind exploring opportunities that can guarantee stable means of livelihood.

According to Odum, the financial firm and its partners understands that many Nigerians require useful information that can enhance their decision making regarding investment plans and as such, MBA Forex Institute is partnering with others to provide a platform through which doubts could be cleared and further enlightenment is provided before deciding on the engagement to key into.

VANGUARD