Foreign exchange (forex) trading is no doubt a thriving business/investment in Nigeria. A report released by Dailyfx (a forex research firm) earlier in 2020, confirmed this when it found that Nigeria’s forex traders trade currency positions worth as much as $1.25 million on average, daily.
This volume is huge enough to build an industry; however, it is also mouthwatering enough to attract quacks or scammers, whose mission is to fleece unsuspecting investors of their hard-earned money.
To curb the operations of scammers, who promise their unsuspecting clients unrealistic/mirage returns on investment, an entrepreneur with business interests in technology and investment management, Dr Tayo Oyedeji shared his experience and offered some valuable advice.
He shared, “Early this year, a young man walked into my office at @Overwoodng and offered to “help” us make 5% per month on all the investments in our portfolio.
“I did the math and saw that our $1million will quickly become $1billion in 15 years at 60% per annum from this gentleman. What a deal!”
Source : @ nairametrics
#forex #forextrader #nigeriaforex