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 www.lagosforexexpo.com 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. (Punch)
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