Nigeria’s foreign exchange market recorded a sharp decline in trading activity in the week ended October 2, with total turnover falling by $930.18m as transactions in the spot market contracted.Data from the FMDQ FX Market Analysis Report showed that total turnover across the spot and derivatives segments declined by...

 Nigeria’s plan to require payment companies to host transaction data within the country is putting to test the infrastructure underpinning its fast-growing digital payments market, with industry executives suggesting that moving large volumes of data could create operational and resilience challenges.Hakeem Adeniji-Adele, deputy managing director of eTranzact, said the...