Harsh economy: Firm urges Nigerians to engage in ‘passive’ income earning
…holds seminar on forex trading
Nigerian economy In order to educate Nigerians on how to engage in passive income earning so as to overcome the present economic hardship in the country, Intelligence Prime Capital held a one-day seminar at the University of Uyo, Akwa Ibom State.
Speaking at the event which came under the theme: ‘Forex without tears: making sustainable passive income even while you are sleep,’ Malachy Igwilo, senior manager, Intelligence Prime Capital, a Canadian company, affirmed that the programme was necessary to educate the participants on the need to have other legitimate sources of income without compromising what they do currently.
Explaining further, Igwilo said: “Indeed, this is a good way of thinking economically. You cannot just stick with one source of income in a growing economic system. All kinds of people including students, petty traders, businessmen, civil servants can all benefit from this opportunity for passive income.’’
Describing forex trading as an ancient engagement, he said: “As soon as humanity started using different paper money, from country to country, then the need for exchanging currencies arose. The first forex market was established roughly 500 years ago in Amsterdam in the Netherlands.
“This market became a place where you can source and get currencies of the world and exchange that for your own. When the gold standard was introduced, people thought it will end forex trading.”
According to him, forex trading is about exchanging one’s local currency for another currency, adding, “In this age of internet technology, forex is traded in large volumes over the internet and anyone can participate in the trading using intermediaries called brokers and it is a highly lucrative market with huge liquidity. As of today, the volume of money traded in the forex market is over 8 trillion dollars daily; so, daily, trillions of dollars exchange hands […]
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