How This Guide Is Researched, Sourced and Updated

Every figure has a source, and you can check it yourself

Nothing on this site is based on a private conversation with a broker, a screenshot from a Telegram group, or a number someone repeated until it sounded true. Where a figure matters, the page points you to the place that publishes it: the SEC Nigeria register of capital market operators at sec.gov.ng for regulatory status, and the broker's own funding page for anything to do with deposits and withdrawals.

That approach is deliberate. Forex marketing in Nigeria is full of precise-looking numbers, and a precise number is not the same as a verified one. If a page here cannot cite a public source for a figure, the figure does not appear.

The Nigerian regulatory position is stated plainly, not softened

Retail forex brokers are not licensed for online FX dealing in Nigeria. That is the starting point for everything written here, not a footnote. Residents who trade typically do so with firms regulated offshore, and CBN rules govern how currency moves in and out of the country.

This is why no page on this site tells you a particular broker is licensed, safe, or the best choice. Those are claims only a regulator's register can support, and the register at sec.gov.ng is the one to read. Treat any Nigerian-facing advert that implies local licensing for retail FX dealing as something to verify before you send money.

Timing, payment rails and costs are described as they actually work here

Session hours are given in West Africa Time, UTC+1, because that is the clock you are trading on. Sydney runs 23:00 to 08:00 WAT, Tokyo 01:00 to 10:00 WAT, London 09:00 to 18:00 WAT, and New York 14:00 to 23:00 WAT. The London and New York overlap, locally 14:00 to 18:00 WAT, is when the most liquid hours sit.

Funding is described around the rails Nigerians actually use: bank transfer first, then OPay, PalmPay, Moniepoint, card and USSD transfer. Costs and limits vary by provider and change without notice, so each page tells you which screen in the broker's app or your bank app shows the current figure rather than quoting one that may be stale.

Updates happen when a source changes, not on a schedule

Pages are revised when something verifiable changes: a regulator's register, a session time, a payment rail, or a broker's published terms. A calendar date on its own proves nothing, so a page is only as current as the sources it cites.

If you spot something here that contradicts sec.gov.ng or a broker's own funding page, trust those sources and assume this page is behind. The point of the whole exercise is that you should be able to reproduce every check yourself, in a few minutes, without taking anyone's word for it.