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The Central Bank of Nigeria has directed all banks to initiate a post-no-debit on the bank accounts of 38 companies over alleged forex infractions among other violations.
The affected bank accounts are mainly for bureau de change, betting and logistics companies, The Cable reports.
"You are hereby required to place the under listed accounts on post-no-debit with immediate effect and revert with the account names, numbers, currencies, and balances of all accounts placed on PND.".
As per the directive, CNB ordered banks to submit names, addresses, and Bank Verification Numbers of all the exporters who have failed to repatriate their export proceeds.
Nigeria ranks as one of the major hubs for forex trading in Africa.
A Post-No-Debit is a direction where banks do not allow any withdrawals or transfers from the bank account of account owners.
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Visit us at - https://marketnewsbizz.com/how-to-register-with-ubanker-broker-and-earn-big-from-forex-trading-2/
Many Nigerian forex traders are already experiencing new life with Forex trading, thanks to Ubanker Nigeria. Although this broker firm is pretty new in the country, it has earned the trust of lots of online forex traders – both beginner and expert traders.
Algorithm Trading Marketsubmitted by hannah_jack to TechInsightreports [link] [comments]
Research report comes up with the size of the global Algorithm Trading Market for the base year 2019 and the forecast between 2019 and 2023. Market value has been estimated considering the application and regional segments, market share, and size, while the forecast for each product type and application segment has been provided for the global and local markets.
The Algorithm Trading report offers detailed profiles of the key players to bring out a clear view of the competitive landscape of the Algorithm Trading Outlook. It also comprehends market new product analysis, financial overview, strategies and marketing trends.
Major Manufacturer Detail: Thomson Reuters, 63 moons, InfoReach, Argo SE, MetaQuotes Software, Automated Trading SoftTech, Tethys, Trading Technologies, Tata Consulting Services, Vela, Virtu Financial, Symphony Fintech, Kuberre Systems, iRageCapital, QuantCore Capital Management
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The report reckons a complete view of the world Algorithm Trading market by classifying it in terms of application and region. These segments are examined by current and future trends. Regional segmentation incorporates current and future demand for them in North America, Asia Pacific, Europe, and the Middle East. The report collectively covers specific application segments of the market in each region.
Types of Algorithm Trading covered are: Forex Algorithm Trading, Stock Algorithm Trading, Fund Algorithm Trading, Bond Algorithm Trading, Cryptographic Algorithm Trading
Applications of Algorithm Trading covered are: large Enterprise, SME
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Regional Analysis For Algorithm Trading Market
North America (The United States, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.) The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Table of Contents:
Study Coverage: It includes key manufacturers covered, key market segments, the scope of products offered in the global Algorithm Trading market, years considered, and study objectives. Additionally, it touches the segmentation study provided in the report on the basis of the type of product and application. Executive summary: It gives a summary of key studies, market growth rate, competitive landscape, market drivers, trends, and issues, and macroscopic indicators. Production by Region: Here, the report provides information related to import and export, production, revenue, and key players of all regional markets studied. Profile of Manufacturers: Each player profiled in this section is studied on the basis of SWOT analysis, their products, production, value, capacity, and other vital factors.
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• In-depth analysis of the market on the global and regional level. • Major changes in market dynamics and competitive landscape. • Segmentation on the basis of type, application, geography, and others. • Historical and future market research in terms of size, share, growth, volume & sales. • Major changes and assessment in market dynamics & developments. • Industry size & share analysis with industry growth and trends. • Emerging key segments and regions. • Key business strategies by major market players and their key methods. • The research report covers size, share, trends and growth analysis of the Algorithm Trading Market on the global and regional level.
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Banks, lenders and currency exchange kiosks in Azerbaijan have started restricting foreign currency sales - U.S. dollars in particular - as the Azerbaijani manat continues to lose ground due to fears of further devaluation and declining oil prices.
The manat took a big nosedive on December 20, 2015, when the central bank decided to remove its dollar peg.
Earlier this year, the central bank tried to fight the shortage by imposing a limit on the amount of dollars banks could sell to their clients on a daily basis, which was set at $500. But as Reuters reports today, out of six banks interviewed; three banks in the capital city of Baku have suspended foreign currency transaction altogether; three banks only allow $100 a day per client.
Some Baku merchants like Akif Shukyurov - who regularly converts his manat denominated revenues to dollars in order to pay his suppliers - tells Reuters that he can't complete his transactions due to the extreme dollar shortage in the country.
The biggest supplier of dollars in the region is the sovereign wealth fund, Sofaz, which holds auctions twice a week, where $50 million is disbursed to banks.
Just like the inadequate and ineffective attempts by the Nigerian central bank to remedy the dollar shortage in Nigeria, the policies of the Azerbaijani central bank have also failed, despite multiple interest rate hikes this year.
Today, the official interbank market closed at 306 naira to $1. But over at Abokifx, the same US dollar sells for 473 naira on the black market-a spread of 55%, enough to tempt even the purest of souls into a game of 'round-tripping'.
The moment the naira was 'floated' on June 20 this year, the authorities then found themselves in a position of not wanting the exchange rate to depreciate past a certain point to avoid the knock-on effect of higher petrol prices.
This meant that the only way to stop the naira floating away beyond reach was to employ the old tricks of hobbling the markets, fixing rates with a mixture of persuasion and mostly threats and generally wrapping the whole thing in a thicket of rules.
On the day the naira was floated in June, the Central Bank of Nigeria intervened in the markets to clear the huge backlog of unmet demand with a mixture of spot rates and forward contracts to be filled up to one year later.
In the absence of the CBN from the interbank market, the money from the oil majors probably made up between 50%-60% of the supply of forex to the market.
Not so fast said the CBN-the oil majors were also instructed that after selling their dollars to petrol marketers, any leftover had to be sold to the CBN. The reason for this directive remains unclear especially as the CBN is no longer intervening in the forex markets.
What is the purpose of DENT?
DENT is going to create a global Data sharing economy. In which users can buy, sell or donate their mobile data to other users.
The DENT platform will be a marketplace for the trading of mobile data and the DENT token will serve as the global currency of mobile data between telecommunication companies and their users. For example, if I have a 5GB per month plan with AT&T and I only use 3GB through the DENT App I will be able to sell my extra data to someone in Mexico. This way I will benefit from selling my data, AT&T won’t care cause they were giving me that data anyways and the telecommunication company in Mexico will benefit from the new acquired customer.
The DENT ios app was launched in December and has been live ever since. The Android app is scheduled to be released by the 26th of February.
The target markets of the DENT platform are emerging economies where people use prepaid plans and the costs of data are high.
According to a recent study of CISCO, the worldwide mobile data grew year on year 63% to 7.2billion Gigabytes per month in December 2016. According to a study of Parks Associates, mobile operator data revenues stood at $386 billion USD in 2015, equivalent to $32 billion USD per month. Assuming just 15% to be unused due to expiry, in a way users lost a value of $4.8 billion USD.
In a more transparent and connected market, this value shall be unlocked to drive mobile data usage.
What Operators is DENT connected to? USA: AT&T, Verizon India: Airtel Brazil: Vivo, Claro Mexico: America Movil ,Telefonica Bangladesh: Robi, Grameen Phone, BanglaLink Nigeria: MTN, Glo Mobile, Etisalat, Airtel Sri Lanka: Hutch, Mobitell, Etisalat, Airtel Oman: Ooredoo
Where to buy DENT ? • Coinrail • OKex • Hitbtc • Etherdelta • Kucoin • QRYPTOS • IDEX
The Team ?
Tero Katajainen: DENT Wireless CEO and Founder, Tero Katajainen, originating from Finland, has co-founded several Internet startups in his 20-year career. He holds a Master of Science degree in Electrical Engineering from University of Tampere, Finland. His deep knowledge about FOREX trading systems is a big advantage for DENT. Tero was also one of the first developers ever to implement direct mobile operator payment systems to consumer applications. As a specialist for transactional systems and Blockchain, Tero is the mastermind of all tech at DENT.
Mikko Linnamäki, Co-Founder: Internet pioneer and serial entrepreneur with a track record of founding successful Internet businesses since 1994. Mikko, also from Finland, is Co-founder of DOVECOT Oy, the company behind DOVECOT, the world‘s most popular IMAP Server with a world market share of 72% and over 4 million installations. An estimated 2,5 billion users are entrusting their Email storage to Dovecot every day. Mikko recently received a patent for his invention "Ad Hoc Injection of IMAP Objects".
Andreas Vollmer, Co-Founder: Andreas is the Mobile specialist in the team with 12 years’ experience developing Mobile Apps, from Symbian in 2005 to iOS and Android today. Andreas is Co-Founder of leading German mobile app development company TDSoftware, which is developing apps for companies such as Mercedes-Benz, Audi, Deutsche Post, GLS, and others. Andreas is also an expert in mobile CRM systems, and will deploy the latest tools to analyze user behavior in order to accelerate user growth and hit target metrics.
Michael Wirth: Director Payment Systems, GM UK & Ireland. Michael is taking care of the perfect flow, analytics, and easy user experience for the exchange of DENT Tokens in the customer- and carrier-facing applications on mobile, Web and M2M. Michael has 20 years of experience in large-scale transaction projects. He was Director of Products and Services at eNett International, a Travelport company and leading specialist for payment solutions in the travel industry.
Ville Sundell, Smart Contract Specialist: Ville is a Finnish smart contract developer who has pioneered smart contract based legal entities, being the first to create companies solely on the Ethereum blockchain without any human intervention through Etherprises LLC. Ville has over 10 years of experience on limited and mission critical embedded systems ranging from automotive to mobile systems, being the ideal background for secure smart contract development.
Here are some important links: Roadmap: https://www.dentwireless.com/roadmap FAQ: https://www.dentwireless.com/faq Whitepaper: https://drive.google.com/file/d/0B7XC9TPzyTmOd0pqQ3hRLUM0UzQ/view IOS App: https://itunes.apple.com/us/app/dent-send-mobile-data-top-up/id1325019276?mt=8
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Best Forex Brokers That Accept Traders in Nigeria By Press Release October 22, 2020, 7:46 am • Posted in Brokers News Nigeria is an oil-rich country and it is often referred to as the gateway to ... Omodele Adigun and Uche Usim (Abuja). The Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another. According to the apex bank, forex cash ... Nigeria’s Forex Devaluation Timeline – 2020. Business. By News Editor On Oct 10, 2020. 0 34. Share . Speculations started March 12 that the naira might be devalued. This is a timeline of every decision taken since the first devaluation. Since the first quarter of the year, Nigeria has faced an exchange rate crisis triggered by a drop in oil prices. It started after two of the world’s ... News Agency of Nigeria (NAN) recalls that the bank was on Friday, injected the sum of 218.41 million dollars and CNY18 million into the Retail Secondary Market Intervention Sales segment. InstaForex clients in Nigeria also have full access to use the cutting-edge technologies in online trading; Unlimited access to Forex news, SMS notification, Forex education and other helpful Forex information. Contact Info. 31 Wetheral Road, Angelina House (First Floor) Owerri, Imo State, Nigeria. +234 813 345 0038 +234 903 358 8803 +234 802 243 3385 [email protected] Promotions. Free $70 ... Nigeria FOREX Trading News ••• Topics • Nigeria Media Directory. Nigeria FOREX Trading Newswire. Get by Email • RSS. Published on 00:23 GMT. Nigeria accounts for 80% capital flight in W’Africa – UN report. Olaleye Aluko The United Nations Conference on Trade and Development has released a report decrying the illicit financial flows from Africa, saying Nigeria accounted for 80 per ... Nigeria’s foreign exchange (forex) reserves dropped by $47.33 million to close weekend at $35.77 billion. Crude oil price declined by 4.4 per cent from $43.68bbl to $41.74bbl amid fears upsurge ...
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