Why fintechs are not allowed to trade forex, FMDQ CEO explains

AI Summary

FMDQ Group CEO Zeal Akaraiwe says fintech companies cannot trade directly in Nigeria’s foreign-exchange market because of regulatory restrictions, licensing rules, and exchange controls. The explanation concerns market access and the regulatory framework for financial firms.

Managing Director and Chief Executive Officer of FMDQ Group, Zeal Akaraiwe has explained why financial technology companies (fintechs) cannot directly trade in Nigeria’s foreign exchange market, citing regulatory restrictions, licensing requirements and the country’s exchange control framework. The post Why fintechs are not allowed to trade forex, FMDQ CEO explains appeared first on Nairametrics.