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Why street trading flourishes in Lagos despite ban

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Why street trading flourishes in Lagos despite ban

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May 29, 2025

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What started as a small agency with only a handful of customers exploded to incorporate over 10 million registered years in just two years. These are some of the critical elements of the application that give it a global regard in the stake realm. Standard Chartered Money Insights is a podcast series created to bring you the latest market views on-the-go. Join experts from Standard Chartered Bank as we deep dive into the global insights and financial analysis that matter to help you make better financial decisions.This podcast channel and its contents are being distributed for general information only. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person or class of persons and it has not been prepared for any particular person or class of persons. Opinions, projections and estimates are solely those of SCB at the date of the podcast content and subject to change without notice.

Residents of South Africa may download advanced mobile solutions from Google Play and App Store. Overall, these apps are products of predictable transition from online to mobile trading. While desktop terminals are still useful, they do not provide mobile access which many users need. Through an app, traders may check market stats and manage trades on the go, at any time.

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Street traders flood Oyingbo here, but how can the government know their exact number to be able to measure the amount of revenue expected to come in daily? I am sure that some people are feeding fat on this arrangement, because when shop owners like me complain, they label us as wicked people who do not want the underprivileged to thrive,” Anyanwu lamented. Launched in 2017, Pocket Option boasts a team of professional traders, IT, and FinTech experts.

Enjoy the MT2 exchange app and you may MetaTrader cuatro to help you streamline the trading Travel. In this full book, we’ll walk through various ways you can sign in the Pocket Choice membership, if or not we want to access it on line, mobile app, otherwise thru social media. We’ll in addition to defense tips increase membership defense that have alternatives such as two-grounds verification and you can changing your password. Follow these tips and also you’ll have the ability to properly log into Wallet Option to initiate benefiting from locations international.

  • In copy trading, it is true that you can adjust the amount you invest, however, you don’t have full control over your trades as the final decision on whether to execute the trade or not is not in your hands.
  • “The huge debt burden owed to operators in the power supply value chain has been taken on with the approval of N130 billion from the gas stabilisation fund to gas suppliers and with over $120 million dollar-denominated component.
  • The market’s strong performance, analysts observed, underscores a prevailing appetite for fundamentally strong assets, as selective buying interest in blue-chip and mid-cap stocks drove gains.
  • Before you go ahead and install a trading app on your phone, it’s wise to do research.

Africa’s Cross-Border Payments to Hit $1tr by 2035, Facing $5bn in Annual Inefficiencies

The overall investment returns can be affected by performance Fees as different platforms may charge a fee for the mirroring service which they offer. Copy trading makes individuals or investors lose control over their trades. In copy trading, it is true that you can adjust the amount you invest, however, you don’t have full control over your trades as the final decision on whether to execute the trade or not is not in your hands. While copy trading can bring about potential profit, it also carries risk. Experienced investors also make wrong decisions and can also experience loss.

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Anthonia Obokoh is journalist with years experience in the media industry, focusing on health reporting. Known for her expertise as a health writer and analyst, she brings depth to topics from public health policies to healthcare advancements. Her work has earned her recognition as a trusted voice in Nigeria’s health journalism field. He added that the ministry also implemented a crop fortification programme, enriching food commodities with vitamin A micronutrients to enhance their nutritional value and health benefits. He emphasized that under the Renewed Hope Agenda, the ministry’s presidential priority is to boost agriculture in order to achieve food security, while also enhancing infrastructure and improving transportation as key growth enablers.

  • Also included are justice sector reform, support to free and fair elections and regional cooperation.
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  • Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia.
  • Instead of reacting emotionally to the market, you’re following logic, backed by your own analysis.
  • Many traders are glued to their screen (whether laptop, desktop or mobile) for hours and hours.
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Trading Justice 496: Two days make a bottom?

The Federal Government says it has secured a $134 million loan facility from the African Development Bank (AfDB) to support farmers in boosting seed and grain production across the country. It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall. TechEconomy gathered that some money apps like Chipper, Carbon, and even Flutterwave are all found wanting when it comes to having an immediate reversal of funds on a failed transaction. Despite some of these disruptions, resolving issues of failed transactions, withdrawals, and prompt customer service remains a dilemma. An excruciating experience that no customer whose funds are trapped shouldn’t experience. Many have similar frustrating experiences as Samuel when dealing with these platforms where you can deposit funds.

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During a recent plenary session, the lawmakers took turn to condemn the growing menace of street trading in different parts of the state, including the Alaba and Okokomaiko areas, where gridlocks are often encountered. “We pay N100 every day, and usually, after doing so, we will be left alone. I am of the opinion that paying them this money is a small price to pay for the opportunity to sell your wares,” a tomato seller told Saturday Tribune. This view was shared by another trader, identified simply as Ola, who was one of the numerous bread sellers that converge on the Agege Railway line area every evening. Although many of these traders sell their merchandise by the road, the spaces they occupy are not free.

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Download it today and cut your teeth on trading with a demo account and whenever you feel ready, make your first deposit with the payment of your choice (Skrill, Bank Card and more). On top of all, you can withdraw your money seamlessly making the whole experience pleasant and  smooth. The European Securities and Markets Authority (ESMA) has banned the sale and marketing of binary options as a trading method for private investors. Those who want to keep trading with regulated services must choose brokers licensed by foreign regulators, for example the Australian Securities and Investments Commission (ASIC). Users may open and close positions, keep track of trends, and manage financial transactions – all through a single product. Essentially, global markets are now in your pocket, with profitable trades just a few taps away.

Trading Justice: Precision Trading

  • You can use filters to create custom reports and go over key statistics to help you draw conclusions and be on the winning side of your future investments.
  • Just like the other tips mentioned above, you will also be charged the prevailing interbank rate at the time of transaction.
  • Check their website or app regularly for special deals and data boosts that can add fuel to your nocturnal internet fire.
  • There, it was discovered that the traders pay a fee for the spaces allocated to them by the local government ‘representatives’.
  • To provide accurate, reliable and comprehensive information about individuals to support business processes,.
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So, if you’re looking for a budget-friendly way to stay online, the 9mobile data plan is worth checking out. Many Nigerian traders start on mobile apps, Pocket Option demo account for Nigerian traders then migrate to MT4 as they get more confident. The platform is powerful but well-structured—meaning you can go at your own pace without feeling overwhelmed.

Global Health Funding And Nigeria’s Dilemma

Another trader who did not want her name mentioned alleged that in addition to ‘settling’ the area boys, they had to pay officials of Kick Against Indiscipline (KAI), now known as Lagos State Environmental Safety Corps, too. And if you are so unlucky that they take your wares to their office, you pay N20,000 or more, depending on the quantity of the seized goods. “We settle them but they sometimes randomly raid this area and take our goods away,” she said. “If I rent a store, I will pay for electricity, television and radio licences, security and other charges.

Does technology make trading easier?

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Pocket Choice is the leading online trade system that gives binary possibilities, Forex, cryptocurrencies, brings, merchandise and you can indicator trading. With complex charting products, versatile expiry times, and lower lowest trades, Wallet Option provides an user-friendly and show-rich trading feel. As already mentioned the good old days trading could be done only at the physical place. The next advancement was to trade via a computer (whether desktop or laptop) that made things easier. As you might have already guessed, mobile trading refers to having access to online trading platforms on your smartphone and trading any time whether it’s stocks, commodities, crypto or CFDs. But the government has continued to warn violators of the state’s environmental laws to desist from doing so or incur the wrath of law enforcement agencies.

  • When browsing or streaming, it’s essential to conserve your night plan for 9mobile by turning off background data for unnecessary apps.
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  • Street traders flood Oyingbo here, but how can the government know their exact number to be able to measure the amount of revenue expected to come in daily?
  • The stock market contains many complex trading options that surpass the simple buying and selling of individual stocks.
  • I’m going to presume that if you trade in your iPhone for an Apple Watch, you have another iPhone that you’ll use for pairing.
  • Your personal data will be used to support your experience throughout this website, to manage access to your account, and for other purposes described in our privacy policy.
  • These apps run on both iOS and Android, and they provide a smooth user experience.

This has raised serious concerns about the government’s commitment to revitalising the sector. According to him, the dismantling of the official development aid agency in the US and similar anti-aid measures in parts of Europe signify the end of old development models. He declared that the era of aid or “free money” is over, and African nations must now pursue development through investment discipline, rather than relying on aid as a component of government revenue. In the light of these challenges, WHO is urging countries to explore domestic funding options, viewing the crisis as an opportunity to reduce reliance on external health financing and to strengthen local health infrastructure. Our current system, stitched into the 1999 Constitution, is a tailor’s nightmare, ill-fitting for a nation of 250+ ethnic groups and rich communal traditions.

He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance. Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.

The vast majority of online trading platforms have their own mobile apps that are compatible with Android and iPhone, so whichever the operating system of your mobile phone is, you can install such apps on your phone and trade on the go. Before choosing a brokerage app, investors need to weigh their options and consider the benefits and breaches of each one. These financial platforms store sensitive data, so you must be careful about which one you select.

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Trading Justice: Trade Deals, Price Pressures, Consumer Clues

Also, be sure to read the reviews of the brokers you are interested in because this way you can get a good impression and it will help you to decide. If you want to know more about Pocket Option, you will be able to learn from other people’s experiences. This is an online CFD and you can types broker, offering connection with property because of trading tools such as digital choices, fx pairs, cryptocurrencies, around the world carries, merchandise, and you may market indicator. Unlock the new MetaTrader cuatro app and you can look at the “Navigator” club.

Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all. Help us maintain free and accessible news for all with a small donation. “Honestly, I used to complain about Flutterwave support, but they seem even much better. In the absence of any support, users storm their Instagram and Twitter pages asking for help. In the end, scammers disguise themselves as support and rip them off completely. Many of Nigeria’s fintechs seem to have everything automated, which makes them questionable.

The cost of implementing this model is not pocket change, but it’s not a king’s ransom either. Setting up this model through a National Conference, new laws, and public campaigns may take a hefty sum upfront. But scrapping the Senate saves billions yearly, and regional parliaments also cost less than State Assemblies. Long-term, regions funding themselves, think Enugu’s tech or Kano’s trade could slash federal spending, while fair elections and less corruption save even more. This model’s sweat today could mean plenty tomorrow, making it leaner than our current bloated system.Dr.

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  • While many have blamed the rising cost of hiring a shop and the parlous state of the country’s economy as reasons fuelling street trading, the state government appears to be in an awkward situation addressing the reasons adduced and out to enforce the ban.
  • The program is currently available for Windows, iOS, and Android devices, encapsulating flexibility for various investors.
  • Opinions, projections and estimates are solely those of SCB at the date of the podcast content and subject to change without notice.

Trading Justice: Fakeout to Breakout

Then and only then you realise how vital it is to be able to speak with a human being (and not an automated chatbot that provides generic answers) that will be able to listen to you, fully understand your problem and solve it efficiently. There are apps asking you to do a number of high-risk trades before cashing out, and the odds are you will lose a part of your money. It’s important to make smooth deposits any time to be quick and don’t miss any trades and at the same time, you might be in dire need of cash, meaning that it’s good to cash out any time. Stick around, in this comprehensive article, we’re going to talk about how the advancement of technology has shaped trading to its current form. You had to literally go to the stock exchange market (a physical place) to be able to trade.

The former acting Head of Department of Employment Relations and Human Resource Management (ERHRM) has produced ten doctoral candidates. He has several local and foreign scholarly publications in reputable and professional journals in the area of Human Resource Management, Industrial Relations, Organizational Behaviour, Employment Relations and General Management. In their separate responses, Professors Sadiq, and Anyim (who was online) expressed gratitude to God, families and friends as well as the University Senate and community for the opportunity to serve and contribute their quota to the development of Nigeria. Invest in the brand new terms and conditions (mark “We have read and you may recognized another agreement”).

  • Centre about science, medicine, art, campus life, university issues and broader national and global concerns.
  • Copy trading simply involves a trader copying the footsteps of another trader.
  • There should be a law stating that fintechs and other money apps operators should have effective communication channels, not chatbots that respond and attend to customers’ plight.
  • However, depending on how much you’re migrating over, it can take some time—anywhere from one to two hours, possibly—to transfer all of your data.
  • For more experienced users, it delivers tight spreads, real-time price updates, and customizable account types to match trading goals.
  • The EU, through the European Civil Protection and Humanitarian Aid, supports international relief organisations operating in Nigeria.

The FinTech and IT specialists behind Pocket Option are passionate about implementing features and listening to their customers’ suggestions. Since the app’s debut, the developers have launched social trading, an affiliate program, a chat system, numerous trading schemes, and customizable interfaces. With a solid base of millions of registered users, Pocket Option has high customer loyalty. Because of this facet, the app’s creators have encouraged users to participate in trading tournaments to receive bonuses, gifts, and promo codes.

Because life is better with options, and you deserve that kind of convenience. But are you constantly on the move, hopping buses or spending hours in Lagos traffic? Then, your laptop needs protection from bumps, rain, and the harsh realities of public transport. In fact, many sleeves are made to carry just your laptop and maybe a slim notebook or a few papers if you’re lucky. Some designs include a small outer pocket for a pen or a charger, but for the most part, sleeves are about keeping things minimal. Whether it’s a sleek MacBook, a powerful Dell XPS, or a budget-friendly HP, your new tech buddy deserves a good home that protects and allows you to carry it around safely and comfortably.

He stated that towards this end, operatives of the Lagos Environmental Sanitation Corps have been drafted to markets and the adjoining streets with standing instructions to arrest any street trader found within the vicinity. As encapsulated is a 21st Century media brand that gives a voice to the totality of Nigerian populace and Africa by extension irrespective of class, ethnicity, religion or background. Our News analysis, documentaries, features and entire programming presents an avant-garde depository of hi-tech digital product that inform, educate, enrich and empower our esteemed and uniquely diverse audience. VOP MEDIA is a People’s first unbiased media platform creating equality of representation, opinion and fairness in political, economic and diverse conversations.

Centre about science, medicine, art, campus life, university issues and broader national and global concerns. The Vice-Chancellor, Professor Ogundipe, FAS, expressed gratitude to the Federal Government for the choice of the University of Lagos as host of the solar-powered electric charging station. Besides the products being sold at reasonable prices, lots of gifts have been packaged for potential visitors to Dangote Stand with opportunity from wet sampling of its products. Dangote Cement, a regular participant at both fairs, will operate an office at the Dangote Group Pavilion. Customers and users of its cement products are encouraged to visit the office during the period of the fair for consultations with the team. Officals from Dangote Fertiliser that was commissoned last week will be operating a special helpdesk for customers and farmers who want information on distribution and application of fertiliser.

Gatekeepers or spectators? National Assembly’s two-year performance gap, By Dakuku Peterside

It’s one of the most trusted platforms in the world for retail forex and CFD traders. So whether you’re starting from scratch or already knee-deep in charts and candlesticks, here’s a list of some of the top mobile and desktop apps Nigerians are using to grow their money and understand the markets. According to him, the government aims to leverage the agricultural sector for national economic revival by increasing the production of staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both the dry and wet farming seasons.

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