E-Financial
Naira softens against Dollar on parallel markets

By Lukman Otunuga, Research Analyst at FXTM
The Naira eased slightly against the Dollar on the parallel markets as geopolitical concerns weighed on emerging market currencies.
Reports of Nigeria’s foreign exchange reserve falling by $2.1 billion in 30 days compounded downside pressures with the Naira trading around 360 against the Dollar. An appreciating Dollar, prospects of higher US interest rates, jitters ahead of the 2019 general elections and geopolitical tensions across the world present downside risks to the Naira. With the economic calendar in Nigeria relatively light for the rest of the trading week, the local currency is likely to be influenced by external forces.
Risk sentiment wanes on geopolitical concerns
Asian stock markets tumbled this morning following a lacklustre session on Wall Street overnight that saw the Dow Jones fall more than 100 points.
The incredible rally in Chinese equities yesterday clearly failed to jumpstart risk sentiment as geopolitical tensions weighed heavily on investor confidence. Global equity bulls seem to be entangled in a gruelling battle with ongoing US-China trade disputes, global growth concerns, geopolitical tensions and prospects of higher US interest rates. With the various geopolitical risk factors bubbling violently in the cauldron, all the ingredients for a market-shaking selloff across global stocks seem to be in place. All good things must come to an end and this could be the story for the bullish global equity markets.
Dollar gains on safe-haven demand
The Dollar remains a popular destination for safe-haven flows amid the mounting geopolitical tensions across the world.
Uncertainty over Brexit negotiations, the standoff over Italy’s budget and US-Saudi tensions have sent investors rushing to the Dollar. With the Greenback also supported by optimism over the US economy and prospects of higher US interest rates, the fundamental outlook points to further upside. In regards to the technical picture, the Dollar Index is bullish on the daily charts with prices trading near a two-week high above 96.10. A solid weekly close above 96.00 has the potential to trigger a move towards 96.20 and 96.48.
Commodity spotlight – Gold
Gold bulls hit the ground running this morning as geopolitical concerns promoted risk aversion and accelerated the flight to safety.
The yellow metal has scope to shine with intensity this week as the risk-off mood sends investors rushing to any form of safety. However, with the Dollar also benefiting from safe-haven flows there could be fierce competition between the two. Gold seems to be winning the battle of the safe-havens this morning with prices trading around $1,231 as of writing. A solid breakout and daily close above the $1,233.50 resistance level is likely to inject Gold bulls with enough inspiration to challenge $1,245.
Currency spotlight – GBPUSD
Brexit-related uncertainty remains the primary culprit behind Sterling’s weakness.
The clock is ticking with under six months left until the official Brexit deadline and the Irish border issue remains an unsolved puzzle. Investor attraction towards the Pound is likely to diminish as investors evaluate the possibility of a no-deal Brexit scenario. The GBPUSD is under pressure on the daily charts with a breakdown below 1.3000 opening a path towards 1.2930.
E-Financial
SEC Alerts Public on Silverkuun, Trending Dubious Investment Schemes

Securities and Exchange Commission (SEC) has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited.
In a circular issued in Abuja, yesterday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the Nigerian capital market.
“The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited which holds itself out as an Investment Adviser/Fund Manager.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market.”
SEC advised the public to refrain from engaging with Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives in respect of any business in the Nigerian capital market.
“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment.
“The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s portal before transacting with them,” the SEC added.
Dr. Emomotimi Agama, director-general of the SEC, recently warned that the Commission would not hesitate to shut down the operations of such unregistered entities while also ensuring that the promoters are made to face the full weight of the law.
Agama said, “we will shut down their operations and the promoters will be made to face the full weight of the law.
“In a major reform, ISA 2025 officially brings digital assets under the SEC’s regulatory purview, defining them as securities and mandating registration for all virtual asset service providers (VASPs) and digital asset exchanges. This development aims to close the regulatory vacuum that has allowed many Ponzi-style platforms to thrive under the guise of cryptocurrency and digital finance.”
Agama also emphasized the Commission’s education-focused strategy to combat fraud through podcasts, digital campaigns, and the introduction of capital market literacy in schools and universities, the SEC aims to equip Nigerians with the knowledge to detect and avoid dubious investments.
E-Financial
Africa Cross-border Payments Set to Hit $1 trillion by 2035

Africa’s cross-border payments market is on track to hit $1 trillion by 2035, according to a new report by venture capital firm Oui Capital. Titled “Africa’s Cross-Border Payment Landscape—a deep dive into the systems, players, and shifts shaping Africa’s cross-border payment flows,” the report states that the market is currently valued at $329 billion and growing at a compound annual growth rate of 12%.
It identifies Africa’s booming digital adoption, increasing intra-African trade, and a surge in mobile money usage as the key growth drivers.
Despite the impressive growth, the report highlights systemic inefficiencies.
“Legacy rails, double currency conversions, and fragmented regulations still siphon billions in hidden costs,” Oui Capital states, noting that the continent continues to have the highest global remittance costs, averaging 7–8%.
However, digital innovation is helping reshape the landscape. Mobile money is now a key channel, with 30% of Sub-Saharan remittances flowing through mobile wallets.
In 2022, Africa accounted for 66% of global mobile money transaction value, demonstrating the rapid formalisation of what was once a predominantly informal cash ecosystem.
Oui Capital sees significant investment potential in addressing these inefficiencies. “Infrastructure plays—interoperable API layers, decentralised FX liquidity pools, and PAPSS integrations—represent $10 billion-plus opportunities,” the report says.
The Pan-African Payment and Settlement System is one such initiative pushing for local currency settlements and reduced reliance on USD/EUR clearing, which presently adds around $5 billion in annual costs.
According to the report, cryptocurrencies and Stablecoins are emerging as promising alternatives, cutting remittance costs by up to 60% in markets with clear regulations.
“Fintech APIs are already pushing fees as low as 1.5–3%,” the report notes.
Still, the venture capital firm warns that challenges persist as only 55% of African jurisdictions allow full electronic KYC, limiting the scalability of fintech solutions.
The report urges founders to go beyond peer-to-peer transfers by embedding services like lending and insurance.
“Africa’s payments race is now a scale game. Those that solve for liquidity, compliance and cost will define the continent’s digital trade backbone over the next decade,” it concludes.
E-Financial
SANEF, CIBN Partner to Expand Agency Banking Certification

Chartered Institute of Bankers of Nigeria has expanded its Agency Banking Certification Programme through a tripartite collaboration between the Institute, FIC, and SANEF Limited.
This partnership according Prof. Pius Deji Olanrewaju, President/Chairman of Council the Chartered Institute of Bankers of Nigeria, CIBN, is timely and strategic, “as we aim to broaden the reach of the certification across Nigeria’s agent banking sector. With SANEF’s deep integration in the financial inclusion ecosystem and established relationships with leading super agents, we are confident that this collaboration will strengthen the quality and visibility of the programme.
“The goal is clear, to enhance professionalism among agent bankers, support the national financial inclusion strategy, and contribute to building trust and integrity within this growing segment of the financial services sector. This collaboration presents an excellent opportunity for further implementation of the competency framework for the banking industry in Nigeria”.
He noted that the collaboration among others is part of his LEGACY agenda which highlights the multifaceted role of financial institutions in shaping Nigeria’s economic future.
The letter C in the LEGACY agenda refers to Competence in the banking and Finance industry, which is a very crucial factor in the banking and finance sector. Competent individuals in this industry are equipped with the necessary knowledge and skills to effectively manage financial resources. Individuals with expertise in this field can contribute to the growth and stability of the economy.
Mrs. Uche Uzoebo, Managing Director/Chief Executive Officer, Shared Agency Network Expansion Facilities, SANEF, described the memorandum of Understanding, MoU, as a visionary partnership that seeks to expand Financial Inclusion through Agent banking training, Financial Literacy and knowledge impartation, an objective that forms a key pivot of what SANEF represents.
“Over the years, SANEF, in strong collaboration with our key stakeholders, Banks and Licenced Super-Agents/Mobile Money Operators and other Financial Service Providers, have continued to deepen the frontiers of Financial Inclusion and agent bank. Financial Literacy and training have remained a key part of this objective.
“This MOU ceremony is a fulfillment of a shared vision through the expansion of Agent Banking, Financial Literacy, capacity building, thought leadership, training and competency.
She further explained that the agreement provides a training structure with well-curated and knowledge filled training modules and materials that will deepen the knowledge and capacity in agent banking.
“It will go ahead to deepen and expand the knowledge and capacity of all participants that will take part in this training and we believe that with the quality and cooperation of all parties present, this very important objective of impartation of knowledge and thought leadership, grooming and training minds to be empowered and learned and contributing our quota to nation building and be a better place,” she added.
- Telecom3 days ago
MTN Nigeria Invests ₦900Bn in 2025 to Boost Network Quality in Lagos & Abuja
- E-Business3 days ago
Firm Reports a 48% Increase in Malicious Packages Threatening Software Supply Chains
- News3 days ago
EFCC Witness Admits Writing Off Arik Air’s $2.3M Debt Amid N76Bn Fraud Trial
- Telecom3 days ago
MTN Nigeria Wins Award for Best Use of Data @MarkHack 4.0 Awards Night
- Telecom2 days ago
Glo, Huawei, Communications Ministry Bring Digital Services to Abuja Village
- E-Financial2 days ago
SEC Alerts Public on Silverkuun, Trending Dubious Investment Schemes
- News3 days ago
SERAP Urges National Assembly to Reject Tinubu’s $24Bn Loan Request Over Debt Concerns
- Broadcasting3 days ago
The Rave Revolution: How Gen Z and EDM Are Rewriting Nigeria’s Nightlife