oleh admin | Apr 1, 2025 | business, financial markets, financial services, investing company news, money
HFM has established a robust presence in Nigeria’s online trading sector. Could you discuss how trust and security have influenced your progress up until now?
Certainly. In Nigeria, trust and security have always formed the backbone of our expansion. Right from the start, we recognized that online trading, particularly with contracts for difference (CFDs), could be intricate and daunting for numerous individual investors. Therefore, we prioritized openness, adherence to regulations, and offering a safe environment. This approach helped establish our reliability. Additionally, we’ve made significant investments in customer education and tailored assistance, fostering confidence among many Nigerian traders who now rely on us.
As worries over fraud and financial scams in online trading continue to rise, what actions is HFM implementing to boost confidence and security, especially within CFD trading? Which particular safeguards have been put into effect to shield individual investors from dangers such as improper use of leverage, fraudulent activities, or weaknesses in the trading platforms?
At
HFM
At the heart of our operations lies client protection. We prioritize fraud prevention, ensure responsible leveraging, and safeguard funds with great seriousness. To achieve this, we’ve established several tiers of protective measures to foster a safe and open trading atmosphere.
From the outset of client engagement, we implement rigorous Know Your Customer/Anti-Money Laundering protocols to confirm identities and thwart illicit activities. Our platform features instantaneous trade surveillance mechanisms aimed at identifying and resolving dubious actions. Regarding leverage, clients have complete autonomy to modify it according to their personal risk appetite and trading approaches; additionally, we offer detailed risk data prior to initiating any trades.
To safeguard your funds, we keep all client deposits in isolated accounts at premier banks, distinct from our own operating capital. Consequently, regardless of market fluctuations, your money stays secure. Additionally, we collaborate with prominent liquidity suppliers to sustain a robust financial standing, which facilitates seamless and dependable trading experiences.
In terms of technological capabilities, we routinely evaluate our infrastructure through audits and stress tests, ensuring it remains secure with top-tier encryption methods. To further fortify user accounts, we provide two-factor authentication. Our leading-edge insurance scheme covers various threats such as fraud, human mistakes, and unexpected issues. Moreover, a specialized system continuously monitors potential risks round-the-clock to protect clients’ best interests.
Our aim is to create a secure and open setting where traders can concentrate on their tactics with complete assurance.
Protecting investors is essential, yet promoting innovation also holds significant value. Can you explain how HFM manages to uphold regulatory requirements while still encouraging development in CFD trading?
Achieving this delicate equilibrium has been successful for us. Instead of seeing compliance as an obligation, we regard it as the foundation that instills trust in our clientele when they engage in transactions. Concurrently, we persistently explore novel avenues such as advanced trading instruments, user-friendly designs, and accessible mobile platforms which make trading more inclusive. Both our product developers and compliance officers collaborate closely to guarantee each advancement adheres strictly to stringent regulatory guidelines while still providing customers with a smooth interaction.
In what ways is HFM working alongside regulatory bodies such as the SEC to guarantee adherence to regulations without compromising its competitive edge?
We take a highly proactive approach in this area and have maintained continuous discussions with the Nigerian Securities and Exchange Commission (SEC) regarding the critical necessity of regulating CFD trading in Nigeria.
HFM
, we see regulation not as a hurdle but as a competitive advantage, it filters out bad actors, raises industry standards, and builds long-term trust. As a global brand regulated in multiple jurisdictions, including South Africa, Kenya, Mauritius, Seychelles, Dubai, the United Kingdom, and Cyprus, we bring deep regulatory experience to the table.
Our interaction with the SEC aims at facilitating the creation of straightforward, actionable regulations for CFD trading. These rules should safeguard investors’ interests while also fostering innovation. We strive to maintain an environment where trades occur under a clear, organized structure ensuring secure assets, stringent performance criteria, and adherence to international best practices. An effectively regulated marketplace encourages greater involvement from various players, enhances reliability, and promotes steady expansion throughout the financial sector.
Given our substantial and expanding clientele in Nigeria, we understand the duty we bear. Therefore, instead of merely backing regulations, we are proactively collaborating with the SEC to develop equitable and robust rules that promote honesty, safeguard investors, and raise the bar for the CFD trading sector in Nigeria. We aspire ultimately to become the foremost transparent and reliable CFD brokerage within the nation.
What internal measures does HFM employ to identify and stop misconduct involving traders, third-party brokers, or malicious entities on the platform? In what ways do HFM’s security protocols concerning CFDs contribute to enhancing Nigeria’s standing as a secure and appealing market for international investors?
Internally, we maintain a specialized compliance and risk management team that keeps watch over activities round the clock. Additionally, we employ sophisticated algorithms designed to identify unusual trading behaviors or patterns, which could include instances of insider misuse or actions taken without authorization by external parties. Any detected problems are promptly elevated for comprehensive investigation. Such preventive measures ensure the security of our clients’ interests.
Given the tighter restrictions on CFDs, could this lead to traders moving to non-regulated venues instead? What strategies will HFM employ to keep their user base while maintaining regulatory adherence and safety?
This is indeed a legitimate worry. Certain traders might be drawn to non-regulated platforms that provide substantial rewards with minimal transparency. However, we think that many customers, particularly under current conditions, prioritize security and reliability more than quick profits. We aim to inform users regarding the hazards associated with unlicensed brokerages and keep delivering top-notch assistance, clear cost structures, and specialized regional knowledge. Ensuring adherence to regulations alongside maintaining customer loyalty becomes seamless when individuals recognize that their enduring prosperity is what matters most to us.
Does HFM require explicit risk warnings, leverage restrictions, or increased transparency measures for CFD traders? Are there intentions to reinforce these protective guidelines?
Certainly. All our CFD products require mandatory risk warnings, which we present in straightforward, jargon-free terms specifically designed for Nigerian users. Additionally, we have introduced adjustable leverage limits that consider both the user’s level of expertise and their account type. Our policies undergo regular reviews, particularly with changes in regulations. Furthermore, we plan to incorporate advanced AI-powered risk assessment tools to personalize trading restrictions and alert systems according to individual clients’ behaviors and risks they undertake.
Apart from CFDs, are there other high-risk financial products like cryptocurrency derivatives that HFM plans to subject to stricter regulation for better investor protection?
Yes, CFD regulation should cover all CFD products, including crypto CFDs. While they offer opportunities, they also carry significant risks, especially for retail investors who may not fully understand the volatility involved. We want to continue to make these products accessible, but only within a framework that puts investor protection first.
In what ways does HFM’s strategy for regulating Contract for Difference (CFD) align with Nigeria’s overarching objective of expanding capital markets and at the same time safeguarding financial stability?
We see ourselves as a bridge between retail traders and the broader capital market ecosystem. By championing safe, regulated CFD trading, we’re helping introduce new participants to financial markets, many of whom may eventually graduate to equities, ETFs, or even direct capital market investments. Our compliance-driven model aligns with Nigeria’s financial stability goals while expanding access to wealth-building tools. It’s about growing the market responsibly.
In the future, we plan to offer Contracts for Difference (CFDs) on selected Nigerian-listed company stocks. This move aims to provide local investors with an option to protect their conventional equity holdings through stock CFDs, which aren’t presently available locally. Introducing these instruments not only enhances the functionality of CFDs for Nigerian traders but also bolsters the broader financial ecosystem by providing advanced risk management options. We believe this aligns well with Nigeria’s goals of expanding capital markets and drawing in greater numbers of individual investors.
Thank you for dedicating your time. It’s evident why
HFM
leads in the field of financial trading.
I appreciate your time. It was nice talking with you.
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oleh admin | Apr 1, 2025 | business, finance news, financial markets, investing, money
Following its robust financial performance in 2024, the bank has suggested a dividend of N1.00 per share.
Wema Bank has reported a profit before tax of N102.51 billion, indicating a rise of 135 percent from the N43.59 billion noted in the previous year.
The bank
has suggested a dividend of N1.00 per share following its robust financial performance in 2024.
As stated by the bank on Sunday, its balance sheet continues to be well-structured, varied, and robust, with total assets increasing by 60 percent to reach N3.585 billion in 2024.
The total assets were at N2.240 billion in 2023. Additionally, the bank increased its deposit base year-over-year by 36 percent to reach N2.523 billion from N1.860 billion.
Loans and advances rose by 50 percent, totaling N1.201 billion in 2024 from N801.10 billion in 2023. The non-performing loans ratio was at 3.86 percent by the end of the year.
The bank reported enhanced yearly performance, showing a 92 percent increase in gross earnings to N432.34 billion from N225.75 billion in the previous year.
The interest income surged by 92 percent year-over-year to N353.54 billion from N184.48 billion, whereas the non-interest income saw an increase of 91 percent to reach N78.80 billion.
The bank announced a Return on Equity of 43.60 percent, a Return onAssets of 2.96 percent, and maintained a Capital Adequacy Ratio of 19.67percent.
The cost-to-income ratio was at 56.23 percent, underscoring the commercial bank’s robustness and fiscal stability.
The robust performance in 2024 was credited to effective strategy implementation in areas such as risk control, client engagement, and online banking services by Managing Director Moruf Oseni.
“We continue to be dedicated to assisting Nigerian businesses and individuals through our cutting-edge banking products and services,” he stated.
He pointed out ALAT, the leading digital platform of the bank, as being at the forefront of digital banking usage amongst Nigeria’s youth demographic.
Mr. Oseni mentioned one instance as ALAT XPlore, which is Nigeria’s premier authorized banking application tailored for teens between the ages of 13 and 17, aimed at fostering financial acumen and accountability.
Despite facing a difficult operational landscape, the bank keeps expanding across all financial metrics, highlighting the team’s strength and proficiency.
“The most impressive result is from Profit Before Tax, which jumped by 135 percent,” he noted.
Mr. Oseni pointed out that the 92 percent increase in gross revenue, along with a 60 percent expansion in total assets and an earning of 483.20 kobo per share, significantly bolstered the balance sheet strength.
“The cost-to-income ratio of 56.23 percent has notably enhanced compared to the prior period,” he mentioned.
He further declared that the financial institution’s Capital Raise Initiative was scheduled to commence in April 2025 through a N150 billion rights offering.
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oleh admin | Apr 1, 2025 | africa, business, controversies, government, politics
Sudan maintains that it has not lifted the ban on tea imports from Kenya, which was implemented around three weeks ago as a protest against Nairobi’s association with the paramilitary group Rapid Support Forces (RSF) that are battling the governing military council.
On Tuesday, Sudan’s embassy in Nairobi refuted President William Ruto’s statements from Monday evening, claiming that Kenyan merchants continue to sell tea to Sudan. These claims were deemed incorrect by the embassy.
During a joint interview with local radio and TV outlets held at the Sagana State Lodge in central Kenya, the president stated, “Despite their claim of not purchasing our tea, we continue to sell tea to Sudan. The demand for our product compels them to do so. Therefore, there isn’t an issue regarding the sale of tea, which contributes positively to profits within the tea industry.” However, on Tuesday, Sudan released a statement asserting that the import ban imposed on March 11, 2025, was never reconsidered.
“The Ministry of Trade and Supplies in Sudan enacted a directive halting all goods coming from Kenya according to what aligns best with Sudan’s national interests,” explained the embassy. “This measure has been strictly enforced, ensuring that no items originating from Kenya—tea included—are allowed entry into Sudan. We remain steadfast in maintaining these trading policies due to significant domestic economic and diplomatic reasons,” the communication concluded.
They also stated that any assertions to the contrary are baseless and incorrect.
Meanwhile, Khartoum reiterated its “dedication to regional collaboration and productive discussions, adhering to the tenets of mutual respect and non-intervention.” Tea merchants informed The EastAfrican that approximately 207 shipping containers filled with tea destined for export to Sudan are currently stalled within the supply chain, which could result in damages exceeding $10 million.
The East African Tea Trade Association (EATTA) Managing Director, George Omuga, has urged Nairobi to collaborate with Sudan in granting at least a one-month period for clearing tea shipments destined for that nation. This move aims to minimize potential financial setbacks for both merchants and growers.
There are 400 bags of tea headed for Sudan at the port of Mombasa, along with various shipments stored in warehouses, navigating the high seas, and waiting at Port Sudan for approval.
In early March, Eatta expressed worries over possible repercussions in Sudan, a crucial marketplace for the nation’s tea industry, following the RSF’s holding of a ceremonial political gathering in Nairobi aimed at establishing an alternative administration.
Black market brew: Sudan conflict disrupts Kenya’s tea exports
Sudan has labeled Kenya’s sheltering of the Rapid Support Forces (RSF), which has been engaged in combat with the Sudanese army since March 2023, as hostile towards the Sudanese population. Consequently, they imposed a prohibition on imports from Kenya into their country.
Kenya ranks among the top 10 suppliers of tea to Sudan, and the current conflict could lead to reduced exports, affecting bilateral commerce.
Other Kenyan goods shipped to Sudan include food items and medicines.
Prior to the present deadlock, Sudan purchased approximately $37 million worth of Kenyan tea. This information was provided by SyndiGate Media Inc.
Syndigate.info
).
oleh admin | Apr 1, 2025 | business, female empowerment, government, politics, women
Biswanath
(Assam), India, April 1 (ANI): The Chief Minister of Assam
Himanta Biswa Sarma
On Tuesday, the ‘Lakhpati Baideo’ initiative commenced with the launch of Assam’s largest women entrepreneur support program. During this event, he presented the initial batch of checks to 23,375 female business owners as part of the Mukhyamatri Mahila Udyamita Abhiyan at the newly established Kettala Playground in Borgang, Behali.
Biswanath
district.
Through this launch, 2,704,161 SHG members will reap benefits as Assam progresses toward a new epoch of female financial autonomy.
Under the Abhiyan initiative, Chief Minister Sarma distributed the initial installment of Rs 10,000 as startup funds to female recipients with the aim of enhancing self-employment prospects.
During his address, Chief Minister Sarma stated, “For empowering our state in Assam, we are implementing a multifaceted approach.”
Nari Shakti
from young students to senior citizens. Open access for all, tuition-free education, and living assistance via Orunodoi,
Chief Minister Women Entrepreneurship Scheme
(MMMUA), senior citizen pensions, and complimentary food grains—in each phase, we remain steadfast in our support.
Nari Shakti
.”
CM Sarma stated that according to MMMUA, if the beneficiaries effectively utilize their initial grant of Rs. 10,000 during the second year, they will qualify for an additional amount of Rs 25,000, with Rs 12,500 being a subsidy.
bank loan
, with the remaining ₹12,500 coming as a state grant.
He further mentioned that the state government would cover the interest charges.
bank loan
The Chief Minister stated that women who succeed in their businesses through this initiative will receive an entitlement of Rs 50,000 during the third year.
Chief Minister Sarma stated that the women’s self-help groups (SHGs) would keep receiving all the benefits, since the state government allocated Rs 1,090 crores to 2.17 lakh women SHGs through various programs.
He mentioned that an e-commerce platform was developed and reinforced to assist these women with their business endeavors.
The Chief Minister further stated that for the students from underprivileged backgrounds who are preparing for their matriculation exam, the government will provide a monthly deposit of Rs 300. This financial assistance aims to support these students in accessing tutoring services and improving their performance in the examinations.
He further mentioned that starting today, the government will decrease the price per unit of electricity by Rs 1, and it will purchase each quintal of rice for Rs 2,550 and each quintal of mustard for Rs 6,450.
The Panchayat and Rural Development Minister Ranjeet Kumar Dass, along with Health and Family Welfare Minister Ashok Singhal, Food and Civil Supplies Minister Kaushik Rai, Member of Parliament Ranjit Dutta, Members of Legislative Assembly Diganta Ghatowar, Pramod Borthakur, Utpal Bora, Krishna Kamal Tanti, Amiya Kumar Bhuyan, and numerous other esteemed officials attended the event.
Previously, Chief Minister Sarma launched a specialized health clinic at Rupjyoti Kala Parishad Field in Pabhoi.
Biswanath
.
The specialized health camp aims to make high-quality medical care accessible and budget-friendly for everyone. In an effort to enhance public well-being, the state administration has initiated these health programs throughout each Gram Panchayat, Village Cooperative Development Committee, and city region. These initiatives offer complimentary examinations, medications, as well as guidance on maintaining a healthy lifestyle and proper nutrition.
The health camps will offer free consultations along with diagnostic care. Additionally, the Chief Minister presented Rs 2 lakh as timely aid to 10 former ASHA workers in recognition of their significant contributions.
The Chief Minister, during the inauguration of the Circuit House, also
Biswanath
, planted an Ajar seedling. (ANI)
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oleh admin | Apr 1, 2025 | business, local news, news, politics, politics and government
By Evans Worlanyo Ameamu
In Keta (VR), on April 1, GNA reported – Mr. Wisdom Seade, nominated as the Keta Municipal Chief Executive, vowed to collaborate with residents to accelerate the progress and development of the Keta Municipality for everyone’s advantage.
He stated that his main focuses would be unity, cohesion, and fresh approaches to propel advancement within the Assembly.
Mr. Seade, who serves as both the Assembly Member for the Anyako Electoral Area and the Keta National Democratic Congress (NDC) constituency chairman, spoke to the Ghana News Agency in an interview where he urged other assembly members to validate his nomination.
“My appointment by President John Dramani Mahama represents a triumph for the Keta assembly. This is the first instance where an assembly member has advanced to the role of Metropolitan, Municipal, or District Chief Executive (MCE), and we must seize this moment, rejoice, and collaborate to achieve our goals,” he stated.
Mr. Seade indicated that assuming the role of MCE would enable the assembly members to propel development forward in the Keta municipality. He emphasized the importance of public support, cooperation, and solidarity to reach higher objectives.
He committed to presenting essential emergency prioritization strategies during his initial 100 days in office, should he be approved, and encouraged enterprises, benefactors, corporations, individuals, and organizations to collaborate with the Assembly to advance their developmental goals and enhance progress in the region.
“A number of my objectives include interacting with leaders, stakeholders, businesses, donors, individuals, and communities to collect support, insights, and advice for shaping this constituency into one of the finest within the region and nation.”
He thanked the other three candidates for their congratulations and promised their backing, also expressing hope that his fellow assembly members would grant him full votes to secure his nomination.
He stated that if he is confirmed as the upcoming MCE, his aim is to drive progress in sectors like healthcare, employment generation, infrastructure, athletics, and education, along with various other domains, all aimed at enhancing the quality of life for his constituents.
Mr. Seade indicated his contentment with his working rapport with the present Volta Regional Minister, Mr. James Gunu. According to him, Mr. Gunu grasps the difficulties faced by assemblies and knows potential remedies, owing to his background as a former DCE of Akatsi North.
The Volta Regional Coordinating Council has disclosed the confirmed dates for the nomination process in the region, which will take place in Keta on Thursday, April 10, from 2:00 PM to 4:00 PM.
GNA
MA/CA
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oleh admin | Apr 1, 2025 | business, disasters, news, tourists, Travel
The earthquake that hit Thailand on Friday has dealt a blow to the country’s tourism sector, resulting in sluggish reservations for the forthcoming Songkran festival. Meanwhile, airlines have begun processing requests for reimbursements and annulments.
Yesterday, Tourism and Sports Minister Sorawong Thienthong met with the tourism industry to discuss how the recent earthquake has affected tourist activities. Meanwhile, the Tourism Authority of Thailand (TAT) intends to release a roster of approved accommodations that have passed stringent safety checks for international visitors.
Chaiyapatranun Thienprasit, who leads the Thai Hotels Association (THA), stated that the majority of Bangkok’s hotels are secure and have undergone inspections by engineers.
The Provincial Administration Department has requested hotel operators to assess the structural integrity and adherence to safety norms in their establishments as mandated by hotel regulations, and subsequently submit a report to the department. This directive stems from the fact that hotels are classified as public structures and serve numerous residents and visitors alike.
If damage occurred at a hotel, the operator needed to inform the department’s registrar within 15 days following the event.
He expressed his worry regarding the security of travelers who have reserved unauthorized lodging, should unforeseen incidents happen down the line.
These unauthorized accommodations may fail to register visitors’ information, and the buildings could be non-compliant with safety regulations because of unpermitted alterations, as he pointed out.
Furthermore, images of the State Audit Office building collapsing have circulated extensively through social media platforms and international news channels, affecting perceptions regarding the safety of tourists in Thailand.
Mr. Thienprasit stated that the government ought to promptly look into the incident’s origins and inform the public since the majority of structures in Bangkok haven’t suffered significant damage.
It should also improve the real-time disaster alert system with a hub platform which provides vital information.
Paisarn Sukjarean, who leads the THA’s upper northern division, stated that despite Chiang Mai being close to the quake’s center in Myanmar, local hotels haven’t experienced significant harm. This includes about 15 skyscrapers with over ten floors each in the province.
Mr. Paisarn mentioned that currently, there are about three structures in Chiang Mai that remain inaccessible, including one school and two residential buildings.
The Chiang Mai Municipality has promptly addressed building inspections within the city limits, particularly focusing on the main tourist hub where significant structures are located.
Even though the effects may not be visible until the end of the week regarding the Songkran festivities, hotels have experienced lower reservation numbers than anticipated since the weekend.
Siripakorn Cheawsamoot, TAT deputy governor for Europe, Africa, the Middle East, and the Americas, stated that the organization will assist hotel operators in collaborating with the Tourism Ministry to promote a list of accommodations deemed safe after undergoing evaluations.
Mr. Siripakorn mentioned that the tourism minister is contemplating allocating additional funds specifically aimed at supporting property checks.
Nuntaporn Komonsittivate, who leads the commercial division at Thai Lion Air, stated that the airline continues to operate all flights routinely. However, she admitted that declaring a state of emergency in Bangkok has noticeably affected the travel enthusiasm of incoming visitors.
Mrs Nuntaporn emphasized that it is essential for the government to guarantee safe travel in Thailand, offering official reports from accredited specialists to rebuild trust in anticipation of the Songkran festival.
Several international travelers asked about the airline’s rules regarding canceled flights and reimbursement procedures.
In the meantime, SET-listed Asset World Corp declared a 50% reduction in room rates at all of its nine Bangkok hotels until April 6 for individuals affected by the earthquake.
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