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

NAIRAMETRICS | 09-10-2026 07:28pm |

The 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. He cited regulatory restrictions, licensing requirements, and the country's exchange control framework as key reasons. The explanation provides insight into the regulatory environment governing forex trading in Nigeria.

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