General News
TP Global FX Equips Youths with Forex Trading Skills
TP Global FX has stated that it is ready to equip Nigerian youths with the right skill set and knowledge in forex trading to enable them gain financial freedom and help the economy grow.
The firm which held a 2-day summit to educate youths in Nigeria on Exportable Skillset such as Forex, noted that such knowledge can also lead to gainful employment and boost entrepreneurship in the country.
Chuks Obiri, the Country Manager, TP Global FX, said that their mission is to empower youths with skills that would help them earn much more because when they do, they can bring back the money to help the economy.
According to him, “We want to contribute our own quota to help the economy by educating them with exportable skillset. We are not asking them to bring too much money, we want to educate them on skills that they can export that will benefit them and grow the economy.
“Some people have this money but they don’t know what to do with it, hence our mission of educating them on how to make good use of their money, with available experienced people to teach.
“They can earn so much not from their capital but with the right skillset like Davido, Wizkid export their skills outside the country and they are paid for. We don’t need too much money, all we need from our youth is for them to come so we can teach them the right skillset so that we can export them.”
Obiri while educating the youths emphasised that there is need for every youth to learn exportable skillset which is the solution to the uncertain economy.
He further explained that the falling Naira versus the US dollars is affecting everyone, adding that every Nigerian needs to be empowered, be trained, be educated, “and have the right mind set and also embrace these solutions we are bringing for a better Nigeria.”
The Country Manager disclosed that supply and demand, government policies, lack of investors’ confidence, insecurity, government borrowing for personal expenses, and importation are the factors responsible for the naira decline.
He, however, faults Nigerian politicians for the scarcity of dollars, “The politicians are indirectly responsible for the scarcity of dollars in Nigeria because they have kept these dollars for long and bringing them out now to give to delegates.
“The hoarding of those dollars is the reason why it keeps skyrocketing. We want to contribute to our quota by first increasing the earning power of Nigerians because if an average Nigerian earns about 2000 dollars which is approximately 1.2 m so imagine what they can do with that amount,” he said.
Speaking earlier, Nitish Sharma, the Chief Executive Officer, (CEO), TP Global FX, said “Our ultimate mission is that any trader who is associated with us always earns out of his investments by trading himself using our different educational and monitoring services with a vision to strive to offer the best trading conditions to our clients using state of the art AI/ML-based trading experience.
He remarked that the organisation is determined to show people how to earn in foreign currency by educating them more on the financial market, and how they can execute while also earning.
Commenting on his interest in coming to Nigeria, Sharma said he has a lot of investors here and it has been a wonderful time here, disclosing that the biggest factor that is going to play in the dollar Naira will be the election by next year.
Speaking on the confidence of investors, he said: “The confidence of investors is going to be determined by the government fiscal policies, ‘’so let’s wait after the election as no one will want to lose his money.”
He said with approximately 250 million people in Nigeria among youths, their product will sell because Nigeria is a huge market.
Also speaking, Vignesh Sundar, Regional Marketing Manager, on his part said they want Nigerians to know that they have the power to better their own lives not just to train them, “we are here to show them the resources to make their life better financially as well as their families too”
He said that the challenges so far are that everyone is positive but they are not aware of the resources they have at hand to reach the next levels.
“It pains me that the youths are positive but are not aware of the resources they possess. I am here because I am so passionate to make people get better with the right resources. I am here to show them the resources we have to help them to get to the next level,” he said.
For the protection and confidence of investors, he said, “No one can read the future, but what we can do is to control your future. We are here to show that people can come and go, but your future is in your hands.
“We are showing them that no matter who comes to destruct your life, whether, for the better or the worse, you always make sure you have control over your life. My narrations are to make sure people take power on their hands, make money on their own so they can control their narratives.”
One of the participants, Modebola Ajibodu said she is here to learn from the TP Global Summit, noting that as a professional the training would provide an opportunity to make alternative sources of income legally.
She added: “The dollar has given Naira a substantial nature presently, so I am here to learn more so I can see how I can maximise the little I have and be able if not meet up with the standard of the dollar, but at least, have a fighting right like every other person that has a better currency.”
Nigeria Customs Service (NCS) is set to introduce an electronic declaration system to streamline and enhance compliance for travelers carrying cash into or out of Nigeria.
Speaking in an interview with the News Agency of Nigeria (NAN) in Abuja, Abdullahi Maiwada, NCS spokesperson, emphasized that the initiative aligns with efforts to strengthen Nigeria’s anti-money laundering framework and reinforce financial regulations.
“The Nigeria Customs Service (NCS) has announced the deployment of an Electronic-Currency (E-Currency) declaration form as part of its anti-money laundering measures for travelers carrying cash into and out of Nigeria,” NAN reported. The system will require travelers carrying amounts exceeding the legal threshold to declare them before arrival or departure.
Maiwada further explained the process, stating, “We have developed a system where, even before leaving your point of origin, you can scan a QR code, access the form, fill it out, and we will be able to see it from here.”
He noted that the initiative, set for rollout soon, will enhance monitoring and facilitate information sharing with relevant authorities.
Under the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the NCS Act 2023, travelers carrying over $10,000 (about N15.4 million) or its equivalent in negotiable instruments must declare the funds to Customs authorities.
To boost awareness, the NCS is working with airline operators to inform travelers through onboard announcements and plans to reinstate signage at airports and border points in English and French.
The move comes as part of broader efforts to tighten financial controls following a recent case at the Murtala Muhammed International Airport (MMIA), where Customs officials seized $578,000 from a passenger attempting to evade currency declaration regulations.
General News
Aquaterra Energy Secures Multi-million-dollar well Intervention Contract with Intrepid Energy in Nigeria
Aquaterra Energy, a leader in offshore engineering solutions, has secured a multi-million-dollar, multi-year contract with Intrepid Energy Limited (IEL) to deliver a bespoke subsea well intervention equipment package for a project in Nigeria.
Aquaterra Energy’s turnkey well access package will enable IEL to conduct intervention operations across multiple mature oil wells in the region, supporting enhanced reservoir production.
The contract includes the supply of a complete seabed-to-surface intervention system and package, spanning from the subsea tree to surface intervention equipment.
Key components include Aquaterra Energy’s TRT tieback tooling, which provides production bore and annular access, a lightweight well pressure control system, and an ISO 13628-7 qualified open water intervention riser with an integrated tensioning system. In addition to equipment provision, Aquaterra Energy will also deliver ongoing offshore engineering support throughout the project.
The 7- 3/8” lightweight well access solution, has been specifically engineered for deployment from jack-ups and lift boats. This innovative approach offers a cost-effective and operationally efficient alternative to floating vessels, reducing intervention costs while maintaining high safety and performance standards.
Andrew McDowell, Delivery Director at Aquaterra Energy comments: “Our expertise in offshore engineering allows us to develop tailored intervention solutions that address the operational challenges of subsea well access.
This system has been engineered for efficiency, ease of deployment, and safety, helping IEL optimise intervention activities across Nigeria while reducing costs. By delivering a complete, integrated package, we are simplifying complex operations and enabling operators to maximise production potential.”
Engr Seun Alonge, CEO at Intrepid Energy Limited adds: “Working with Aquaterra Energy marks a significant step forward for our intervention operations in Nigeria. Their specialised technology enhances our ability to execute intervention programmes efficiently, maximising performance across our assets.
By combining Aquaterra’s technical expertise with our deep understanding of the local operating environment, we’re confident this collaboration will enhance production outcomes and create lasting value for our operations in the region.”
The project is set to support intervention operations over multiple years, with Aquaterra Energy providing ongoing technical expertise, with a dedicated team of engineers providing ongoing service support throughout the project.
George Morrison, CEO at Aquaterra Energy: “Delivering reliable and efficient well access solutions for shallow water subsea operations is central to how we support offshore operators.
This collaboration with IEL reinforces our commitment to providing cutting-edge engineering solutions that enhance efficiency and reduce operational costs. With West Africa playing an important role in the global energy sector, we’re proud to continue supporting its offshore industry with our expertise and innovative technologies.”
Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.
Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.
The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.
The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.
At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.
Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”
She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.
“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.
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