E-Financial
ForexTime off to Shanghai for Money Fair
EU regulated and global forex broker ForexTime Ltd (FXTM) has given the surest sign yet of the company’s strong growth and ambitious development plans by announcing the company’s participation in the 11th Shanghai International Money Fair, the most renowned personal and corporate financial expo in China.
Recognizing the huge potential of the Chinese market and its own ability to provide unique and tailored value propositions that complement the market’s needs, ForexTime intends to establish a local presence in order to more effectively provide Chinese traders with specialized education and support, accentuating ForexTime’s benefits, which include, as of August 2013, a website available in Mandarin Chinese.
Leading the way in the finance world, China is now one of the largest and strongest economies globally, while also standing as the world’s largest trading nation with 12% of all trades globally executed in partnership with the country.
With economic growth exceeding 7.5%, the Chinese Renminbi, or Yuan, is the ninth most traded currency in the world and constitutes 2.2% of trades worldwide.
Olga Rybalkina, CEO of ForexTime, said: “It’s hardly surprising that Chinese traders today are on the lookout for alluring new investment opportunities. As China’s economic wealth continues to grow, we are seeing individual Chinese investors increasingly turning to alternative asset classes, such as forex, to manage their personal wealth.This is a large factor behind the increasing popularity of the Shanghai Money Expo as it presents an opportunity for the Chinese to explore the different investment opportunities available to them.”
ForexTime was established in 2012 with the mission of delivering innovative solutions that are based on transparency and safety, and with a commitment to providing education and knowledge by providing tools and training to optimize the client experience.
Working with top-tier banks, investing in continuous development and relentlessly striving to meet clients’ needs on a local level, ForexTime has now turned its focus toward China and is planning to make its first steps in the market.
“Although it carries its own level of risk, the forex market has proven to be a great alternative to trading on the stock exchange as it offers investment opportunities with low capital entry levels and potential high growth returns that are very appealing to Chinese investors,” said Ms Rybalkina.
“Our plans for the near future include a local presence to support potential clients in China and also to help us better understand the needs and motivations of the Chinese market so that we can then in turn respond to them.
At ForexTime, the client experience is at the centre of everything we do; it’s important to be close to clients in order to get valuable feedback that helps us tailor our offerings to their requirements.
For those traders unable to visit ForexTime’s booth at the Shanghai Money Fair, they can be part of the experience online by keeping track of the day’s action via this live streaming link – http://www.forextime.com/why-forex-time/events/shanghai-expo
ForexTime’s participation in the Shanghai Money Fair clearly marks its intent of establishing a presence in China; although the first stop is the Chinese market, this is just the beginning of the global journey that the company has embarked on.
Keystone Bank Limited and the Enterprise Development Centre (EDC) of Pan-Atlantic University have signed a landmark Memorandum of Understanding (MoU) to promote Small and Medium Enterprises (SMEs), youth entrepreneurship, and financial inclusion across Nigeria.
The MoU signing ceremony took place at the bank’s head office in Lagos on Tuesday, June 24, 2025.
Speaking at the event, Mrs Nnenna Anyim Okoro, the Executive Director, Corporate and South, Keystone Bank, described the partnership as a bold and strategic step toward accelerating national economic transformation.
According to her, the collaboration underscores Keystone Bank’s unwavering commitment to empowering the next generation of business leaders and fostering an inclusive financial ecosystem.
“At Keystone Bank, we believe that entrepreneurship is the heartbeat of sustainable economic development.
Across Nigeria, MSMEs are not just businesses; they are the dreams and daily struggles of men and women determined to create value, provide jobs, and build a better future. They are, quite literally, the engine room of our national economy.
“Our sponsorship of the Annual EDC SME Conference 2025 and support for the Global Entrepreneurship Week (GEW) Walk reflect our deep belief in the transformative power of small businesses.
“This partnership is also about financial inclusion, youth engagement, capacity building, job creation, and collaboration,” she stated.
Olayemi Sule, Group Head, Retail & Digital Banking, Keystone Bank, emphasized the innovative offerings customers can expect as a result of the partnership.
“Our customers should look forward to a suite of innovative financial products and digital solutions specifically designed to support business growth, enhance financial literacy, and improve market access.
Also speaking, Dr. Nnenna Ugo, EDC board member and Head, Alumni Relations and Support Services at Pan-Atlantic University, expressed optimism about the partnership’s long-term impact.
“We are super excited about this partnership and confident that it will drive transformation for both institutions.
“The EDC was established to build capacity and provide support services for SMEs. In the past 21 years, we have trained over 350,000 entrepreneurs across Nigeria.
“Keystone Bank’s support comes at a critical moment as we scale our programs and expand our reach ahead of the 2025 SME Conference and GEW Nigeria.
“The SME Conference is a powerful platform that brings together key players in the ecosystem each year to address pressing issues affecting small businesses.
“This collaboration strengthens our capacity to engage more entrepreneurs, provide deeper insights, and drive conversations that inspire growth, resilience, and innovation.
“We commend Keystone Bank’s leadership for its vision and dedication to inclusive economic growth. The bank has truly distinguished itself as a champion of enterprise, and we are proud to have them as a strategic partner,” she concluded.
As part of the agreement, Keystone Bank becomes the major sponsor of the 2025 EDC SME Conference and a key supporter of the GEW Walk, a flagship event during Global Entrepreneurship Week Nigeria 2025.
Both events are expected to attract thousands of entrepreneurs, investors, thought leaders, and policymakers, offering a vibrant platform for knowledge-sharing, networking, and business empowerment.
Fidelity Bank Plc on Wednesday refuted claims that its Managing Director, Dr. Nneka Onyeali-Ikpe, is involved in an ongoing fraud case concerning the account of Woobs Resources.
The Bank’s position follows reports published by Sahara Reporters alleging that Dr. Onyeali-Ikpe was listed as a defendant in the case.
However, documents sighted by Nigeria CommunicationsWeek revealed that the charge sheet dated May 12, 2025, named the defendants as Victor Ukutt, Fidelity Bank Plc, Whoba Ugwunna Ogo, and Safiya Whoba.
A statement by the Office of the Attorney General of the Federation and Minister of Justice dated June 9, 2025, confirmed that Onyeali-Ikpe’s name was struck off the charge list.
The Ministry noted that she was neither the Managing Director nor the account officer at the time the account in question was opened.
The clarification aims to dispel misinformation and uphold the integrity of the institution and its leadership.
Federal High Court in Lagos has fixed July 1, 2025, for the commencement of trial in a money laundering case involving Cititrust Holdings PLC and three of its subsidiaries.
The subsidiaries are Cititrust Funding PLC, Cititrust Credit Limited and Cititrust Financial Services Limited,
The companies are facing an eight-count charge filed by a team of prosecutors from the Economic and Financial Crimes Commission (EFCC), comprising Anasoh Henry Onyekachi, Frankklin Ofoma, Abdulhamid Lamido Tukur, and A.A. Usman.
According to the charge, between 2021 and 2023, the companies, all incorporated in Nigeria, allegedly operated investment management services without a valid licence from the Central Bank of Nigeria (CBN).
This act contravenes Section 57 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and is punishable under Section 57(5) of the same legislation.
The prosecution also alleged that the companies conducted a Collective Investment Scheme without registering with the Securities and Exchange Commission (SEC), another violation of regulatory requirements.
In one of the counts, Cititrust Credit Limited is specifically accused of failing to report high-value financial transactions to the Nigerian Financial Intelligence Unit (NFIU).
These transactions include a N20 million transfer on January 7, 2021; a N200 million transfer on April 4, 2021; and a N200 million lodgement on January 29, 2021.
Additionally, both Cititrust Credit Limited and Cititrust Financial Services Limited are alleged to have made a single transfer and lodgement respectively of N42 million into their bank accounts on January 29, 2021, without proper disclosure to relevant authorities.
The alleged offences are in breach of Sections 11(1)(b) and 11(3) of the Money Laundering (Prohibition) Act 2022, as well as Section 54(1) of the Investment and Securities Act 2007, and are punishable under the respective laws.
The court is expected to begin full proceedings on July 1.
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