I have never seen any forex broker say that they are regulated by the Central Bank of Nigeria (CBN) or by the Securities & Exchange Commission (SEC) in Nigeria. Why is this so? Is it that the Nigerian government is not interested in generating revenue via taxation from these forex brokers? I have never understood this
My brother, I have been asking myself the same question too. And the thing is whether they regulate it or not, boys are still trading so its the government that is missing out on the tax they would have been collecting.
The cabals don't want it regulated, I mean the bureau de change operators. They have been lobbying the house of reps and senate to klll any bill on forex trading regulation.
Thanks @obinna, please lets comment on this thread we need more opinions from members of the forum in Nigeria, or is it that we dont understand the question?
