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FXTM Academy Focuses on Democratizing E-Trading and Empowering Traders Globally

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FXTM was founded with a mission to make trading accessible to everyone. The foremost trading company believes the excitement and opportunities of trading should not be limited to a select few.

Through the FXTM Academy, electronic trading (E-trading) was introduced with the aim of simplifying the buying and selling of financial assets online.

These assets, known as financial instruments, range from currencies and commodities like oil and gold to shares of major companies such as Facebook and Apple.

With over 11 years of global experience and more than a million users worldwide, FXTM is a trusted name in the financial market.

Our established reputation makes us a reliable partner for traders of all levels.

In Nigeria alone, the FXTM Academy has hosted five successful welcome events this year, drawing over 800 attendees and proudly graduating more than 30 traders.

Abiola Akinyele, executive director of FXTM Nigeria, said: “In FXTM Academy, we provide students with a comprehensive and hands-on understanding of critical financial markets, including currencies, equities, indices, spot metals, and commodities.

“We cover essential skills such as fundamental analysistechnical analysis, and more. Whether online or in person, our regularly organized seminars, workshops, and webinars equip our clients with the strategies they need to trade profitably and confidently.”

As the world increasingly embraces artificial intelligence, FXTM has taken the lead by launching the innovative FXTM AI Trader Coach app.

This tool offers personalized trading guidance, real-time insights, and an engaging learning experience, making it ideal for traders at all levels.

Whether you’re practicing, returning to the market, or refining your skills, the AI Trader Coach helps you grow into a more strategic and confident trader.

Akinyele further said: “FXTM Academy goes beyond technical skills. We delve into the psychology of trading, which makes up 80% of success in the field.

Our training covers risk management, avoiding emotional pitfalls like greed, impatience, overtrading, and confirmation bias, all of which are crucial to protecting your capital and ensuring long-term success.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Financial

NDIC Begins Sales Of Landed Properties, Chattels Of Heritage Bank Nationwide

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The Nigeria Deposits Insurance Corporation NDIC has commenced the sales of landed Properties and Chattels belonging to Heritage Bank across the country after revocation of its operating license in June 2024.

Bello Hassan, the Managing Director and Chief Executive of the Corporation, announced this at the NDIC’s special day in the ongoing 45th Kano International Trade Fair holding in Kano city, Northwest Nigeria.

He noted that, “the Corporation had since begun the payment of the insured deposits of N5 million per depositor within a record time of four days of the bank’s closure.

“This was achieved using Bank Verification Numbers (BVN) as a unique identifier to locate depositors alternate accounts in other banks without the need to fill forms or visits the NDIC offices.”

According to Hassan, having largely reimbursed the Banks’ depositors their insured deposits, the Corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits.

“These uninsured deposits represent a significant portion of the total deposits in Heritage Bank.”

He noted that, “the Corporation is already working to ensure that, depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realization of the defunct bank’s assets and recovery of debts.”

“The Corporation has already initiated the process of debt recovery and realization of investments and physical assets of the defunct bank to ensure timely payment to the uninsured deposits of the defunct bank.

Additionally, the NDIC’s responsibilities extend to the creditors of the defunct bank, who will receive payments after all depositors have been fully reimbursed. This orderly process, based on asset realization and priority of claims, is essential in maintaining public trust in the banking system and promoting financial system stability. “

The NDIC Boss encourage depositors of any closed bank, especially Heritage Bank, who are yet to receive their payments, to come forward with their proofs of account ownership to the corporation.

Dr. Hassan reassured depositors about the safety of their funds should in case banks runs into period of uncertainty.

“This contributes significantly to the overall stability of the financial system.” Hassan said.

Also Speaking, the President Kano Chambers of Commerce Industries Mines and Agriculture KACCIMA Garba Imam represented by Alhaji Sani Sale expressed the commitment of KACCIMA in broadening market value and expand Kano’s industrial revolution to the global market.


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E-Financial

CBN Directs Banks to Take Measures to End Cash Scarcity

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The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to ensure efficient cash disbursement to the general public over-the-counter and through Automated Teller Machines (ATMs).

The CBN directive is coming in the midst of complaints of acute scarcity of cash by bank customers across the country.

Most banks have failed or refused to load their ATMs with cash while they are also rationing out payments over the counter.

As a result, most Nigerians are now relying on POS operators for their cash needs.

In response, the POS operators have also jacked up their commission by between 50 and 100 per cent across the country.

The POS operators claimed that they have had to jack up their commission because of the high rates they are also getting the cash supplies from various sources, including traders and filling station operators.

However, in a directive contained in a statement jointly signed by CBN’s Acting Director, Currency Operations, Muhammed Olayemi, and Acting Director, Branch Operations, Aisha Isa-Olatinwo on Wednesday, CBN directs banks to take measures to tackle the cash scarcity challenge.

The apex bank also urged members of the public who are unable to obtain cash, either over-the-counter or through ATMs to report such instances using designated reporting channels and formats.

“This will assist the CBN in addressing issues hindering the availability of cash and further improve currency circulation.

“For DMB branches and ATM locations not dispensing cash, members of the public affected are to provide the relevant details,” it said.

It said that the required details should include account name, name of the DMB, amount, time, and date of incident.

It urged aggrieved bank customers to use dedicated phone numbers of the CBN branche in the state where the incident occurred or through to designated email addresses.


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E-Financial

The Alternative Bank Introduces Elite Banking, Gold Card Offerings

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The Alternative Bank (a member of the Sterling Financial Services Holding Company) proudly unveils the next level of premium banking services with the AltElite product suite and Gold Card offering.

This innovation redefines luxury, personalization, and convenience in financial services, empowering customers to achieve their goals with unmatched liquidity and flexibility.

Mohammed Yunusa, Director, Digital Products & Innovation at The Alternative Bank, shared his enthusiasm about the product: “We have reimagined AltElite with a focus on personalization and accessibility. With features like interest-free liquidity solutions and bespoke investment opportunities, this ensures our customers experience the future of banking today.”

The Gold Card, a symbol of prestige and privilege, complements AltElite with advanced spending power, personalized rewards, and global acceptance. It also offers. exclusive travel perks, enhanced purchase protection, and access to premium services, ensuring that every moment of the customer experience is elevated.

Chidinma Akanle, Group Head of Private Banking & Wealth Management, elaborated: “The Gold Card is more than a financial tool; it is a gateway to a sophisticated lifestyle. With access to over 1,200 airport lounges, enhanced spending power, and bespoke rewards, it has been meticulously designed to complement the ambitions and lifestyle of our esteemed clientele, elevating their experiences in every aspect.”


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