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Anti-corruption group calls for transparency in forex investing – The Punch


Nike Popoola

The Anti-Corruption and Transparency Monitoring Unit has known as for transparency and ethical dealing in the Nigerian forex investing routines.

It stated this in Lagos on Saturday all through the MBA Forex and Money Investment Limited’s Bare2Blue Revolution business banquet, noting that transparency would improve the expansion of the forex investing in the region.

The Chairman, Anti-Corruption and Transparency Monitoring Unit, Presidential Villa, Alhaji Ahmad Sulaiman, said ethical business personalized towards the policy path of the recent administration remained the way forward in developing a fraud-no cost forex market place that would stand the test of time.

He said, “Part of the generate to offer employment, make opportunity for Nigerian youths to be capable to trade and engage themselves legitimately is forex business,” he said.

In accordance to him, MBA Forex and Investment Constrained has been licensed by needed regulatory company in Nigeria, and that the organization as opposed to others ahead of it is not a ponzi plan.

Suleiman observed that MBA’s modus operandi was in tandem with the anti-corruption and transparency generate of the recent administration.

He said, “They have arrive to us and we have assessed them. They want to be an advocate of not only the business they are undertaking but the anti-corruption and transparency generate of this government.

“We questioned them to go as a result of the ICPC to educate their staff. They have also registered with the Central Financial institution of Nigeria, the CPC and other regulatory organizations.”

He also said, “When we assess them, we realised they are credible, ethical and want to do severe business personalized towards the policy of the recent administration. So, we then advised them to function within just the ambit of the legislation and make sure their operation is accountable, transparent and corruption no cost and make sure their ethical basis is incredibly powerful and the business should be sustainable.

 “Unlike ahead of when we have this MMM and other different ponzi schemes, MBA has shown seriousness and is undertaking items differently and that is why we are right here right now in help of their business.”

He advised Nigerians in opposition to going into business that was observed to be unethical.

Suleiman observed that any business missing in transparency should be shunned as the recent administration was all out to punish those people included in shady offers.

The MBA Forex Chief Govt Officer, Mr Maxwell Odum, reiterated the company’s determination to transparency in all dealings.

In accordance to him, the existence of government checking team in the business would make it impossible to legitimise a ponzi plan.

Odum additional that there was needed licence binding the organization to function ethically in the market place and make sure investors’ money and other investments were secure.

“MBA Forex market place is not a ponzi plan due to the fact our organization is included. When you are conversing about ponzi, you are conversing about a organization not included and a name without having a organization. But we have a name, composition and actual physical property.

“This is not a ponzi plan due to the fact everything that has been set in place has acquired us into incorporation and for us to get included it signifies we have what it requires to keep in business. We also have the existence of the government checking our routines and business. So, we want to clear away the perception process that Forex market place is a ponzi plan.”

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