Nigeria's forex market makers at risk

[Paul iyang]

ABCON has passed a warning to its members and forex speculators to limit their pressure on the naira exchange rate. They also spoke on CBN aim to start the sales of forex to its operators.
The return of over 5,000 BDCs to the forex market will add great strength to the Naira and lead to major capital losses for forex speculators. It happened in 2016 and will happen again in 2020.

 

[LeslieBShaw]

I do not understand why trade in Nigerian forex if there are many other currency markets

 

[StewartMorrisonv]

Ahah, man, what are you talking about? This is Nigeria and there is just a terrible economy. I am still surprised that the stock market did not crash after the first wave of coronavirus. This country certainly will not survive any serious tests, so I won’t even discuss their forex market. In addition, in the United States the situation is much more interesting and even more dangerous. Stocks of large companies and the currency continue to plummet despite attempts by the authorities to regulate the economy. This is no longer possible! I try to continue trading on Investous forex and make money but it is really very difficult. I have never lost so much money and time to close one deal ...