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5 Best Binary Options Brokers in Nigeria

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If you are looking for a simplified investment strategy, look no further than that offered by binary options brokers in Nigeria. However, it might be challenging to locate the top binary options trading platform in Nigeria.

Therefore, we have compiled a list of the best forex brokers in Nigeria that offer binary options so that you could invest in Binary Options and Digital Options from the comfort of your own home.

 

Nadex

Overview

Nadex, which is one of the best binary options brokers in Nigeria, is licensed by the Commodity Futures Trading Commission (CFTC), is the biggest binary options exchange in the United States and allows traders to speculate on currency pairs, commodities, and stock indices.

When compared to other online brokers, the platform’s user-friendliness and commission rates are quite impressive.

 

Pros and Cons

PROS CONS
Nadex is fully regulated and offers user-friendly trading platforms CFD trading is not supported
Nigerians can expect powerful trading tools There is a limited range of forex pairs
There is a range of tradable asset classes There are limited funding options

 

BinaryCent

Overview

Exchange-traded foreign currency contracts provide the backbone of the BinaryCent trading platform. BinaryCent is one of the best options for best forex brokers in Nigeria. Trading binary options with forex as the underlying asset is a little different from other trading platforms.

Since the lowest investment required by BinaryCent is merely 41 NGN, the platform is gaining popularity among traders.

 

Pros and Cons

PROS CONS
Easily accessible to traders from around the world There are no trade signals offered on the platform
There is a plethora of educational materials
BinaryCent offers 24/7 customer support

 

IQ Option

Overview

As one of the most prominent online options brokers, IQ Option is headquartered in Cyprus and is one of the best forex brokers in Nigeria with binary options. With customers in over 213 countries and 43 million registered users, they handle over 1 million deals daily.

 

Pros and Cons

PROS CONS
IQ Option has one of the best mobile apps for Nigerian traders on the go There is a limited selection of markets offered
There is a demo account offered
The app and platform are accessible and user-friendly

 

?Open a Free Trading Account Now

 

Binary.com

Overview

Because of its long history in the industry, Binary.com has a solid reputation. It was created in 1999. Across a million people all over the globe have signed up as members.

Binary.com sets itself apart from other brokers by giving you access to a wide variety of trading platforms, including the popular MT5, the innovative Binary Bot, and the versatile SmartTrader.

 

Pros and Cons

PROS CONS
Binary.com accommodates beginners and experienced traders Some offerings are not considered legal in many jurisdictions
There is a choice between different platforms
There are several rare options not allowed by other brokers

 

RaceOption

Overview

Since its founding in 2014, this binary options broker situated in the United Kingdom has processed over 10,000 transactions a day on average.

They provide outstanding CFD trading features, such as live charting and rapid trade execution, on a platform that is accessible from any computer or mobile device.

 

Pros and Cons

PROS CONS
RaceOption accepts traders from around the world and offers great liquidity There is an extremely high minimum deposit
There are several funding options offered
There are bonuses up to 100% offered

 

Conclusion

Binary options trading is a convenient method to supplement your income without taking on the standard market risk. However, Nigerians should approach with care since binary options are dangerous despite their seeming clarity.

 

FAQ

 

What are Binary Options?

Binary options provide two potential outcomes: a preset profit or losing your investment.

 

Are Binary Options Brokers Regulated?

Several market regulators oversee several binary options firms, but many brokers are unregulated.

 

Also Read: Why Forex Trading Is So Popular

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MWUN Backs Nigeria’s Bid For IMO’s Category C Seat

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June 20, 2025

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The Maritime Workers Union of Nigeria (MWUN) has pledged its full support for Nigeria’s bid to return to Category C of the International Maritime Organisation (IMO) Council.
It also commended the Nigerian Maritime Administration and Safety Agency (NIMASA) for its transformative role in maritime security and governance.
Speaking in Lagos over the weekend, President-General of the Union, Comrade Francis Bunu, lauded NIMASA’s significant achievements, particularly in combating piracy in the Gulf of Guinea.
 He noted that the Agency’s efforts have significantly improved safety and stability on Nigerian waters.
“We now have peace on our waters, and this achievement is commendable. It also enhances regional stability and boosts investor confidence,” Bunu stated, citing NIMASA’s commitment to maritime safety as a key driver of Nigeria’s growing prominence in global maritime affairs.
Comrade Bunu further pledged that MWUN would mobilise support through its international affiliates to advocate for Nigeria’s IMO Council bid, emphasising that the country has both the expertise and leadership to make meaningful contributions on the global maritime stage.
“Nigeria is long overdue for a return to the IMO Council. A vote for Nigeria is a vote for Africa”, he asserted.
He also commended President Bola Ahmed Tinubu for establishing the Marine and Blue Economy Ministry, describing it as a “bold and visionary step” that will unlock investment opportunities and create employment across the maritime sector.
“The creation of the Ministry is a strategic move that aligns with global trends. It opens new economic frontiers and supports our youth through job creation and skills development within the blue economy space”, Bunu stated.
Reaffirming the Union’s commitment to collaboration, the MWUN leader assured stakeholders of continued engagement aimed at fostering industrial harmony, particularly within the dock labour sub-sector.
“Under my leadership, MWUN will continue to work with all maritime stakeholders to ensure peace, progress, and sustained sectoral growth”, he pledged.
As the world looks ahead to the 2025 Day of the Seafarer, themed “Our Ocean, Our Obligation, Our Opportunity”, Bunu emphasised the importance of sustainable ocean governance and the critical role of seafarers in global trade.
“MWUN remains steadfast in its advocacy for seafarers’ rights, decent work conditions, and responsible stewardship of our ocean resources. Nigerian seafarers deserve our gratitude for their immense contributions to global commerce”, he said.
Nkpemenyie Mcdominic, Lagos
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Food Security: FG To Review Nigerian Agric laws

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June 20, 2025

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The Federal Government has taken steps to review Nigeria’s agricultural laws to promote the development and enhance food and nutrition security in the country.
The Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi,  stated this recently at the opening of the stakeholders’ workshop and input on the Nigeria Agricultural Laws Reform in Abuja.
Abdullahi said these laws, which are the subjects of review or amendment, have been enacted for a very long time to provide the legal frameworks for the promotion and development of the agricultural sector.
“The sector’s dynamism is evident in the shift from traditional farming practices to more modern techniques, diversification of crops and livestock, as well as adaptation to changing weather patterns.
“This is in addition to the challenges of insecurity, climate change and high input costs which continued to affect agricultural inputs.
“In view of the above, it is imperative to formulate legal frameworks to facilitate the key aspects of improvement in Nigerian agriculture aimed at addressing the problems affecting the sector”, he said.
Noting government policies and initiatives are aimed to boost agricultural production to meet the food needs of the growing population, Abdullahi said efforts were being made to support small holder farmers through access to finance, training and technology.
He also said there was growing awareness of the need to address gender inequality in agriculture and empowering women to participate in decision-making and access resources.
The Minister further said the review of the Nigerian Co-operative Societies Act was a priority, as it was intended to feature among the President’s legacy achievements under his Cooperative Revamp and Reform Initiative.
According to him, “Federal Government’s approach to agriculture is multifaceted, encompassing policy development, financial support and infrastructural development.
“The goal is to create a thriving and sustainable agricultural sector that can contribute to food security, economic growth and overall well-being of Nigerians”.
In his remarks, the Permanent Secretary of the ministry, Dr. Marcus Ogunbiyi, said a strong and robust legal framework was crucial for the agricultural sector.
Earlier, the Director, Legal Services in the ministry, Mr. Isimbabi Garba, underscored the urgent need to reform and reposition Nigeria’s legal framework to support a modern, vibrant, and resilient agricultural economy.
Garba said the event also represented a significant step towards strengthening the country’s agricultural sector and ensuring food security for the nation, adding, “Agricultural law reform is crucial to Nigeria’s economic growth, food security and sustainable development.
“The law plays a significant role in shaping the agricultural sector, and updating our laws will help us address emerging challenges and opportunities”.
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Okpebholo Charges Committee To End Herders, Farmers Clash In Edo … Inaugurates Boundary Committee

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June 20, 2025

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Edo State Governor, Monday Okpebholo, has charged the newly established Livestock Control Committee to bring to an end the pervasive clashes between herders and farmers.
He gave the charge while inaugurating the 27-member committee, headed by a retired army general, Cecil Esekhaigbe.
The Governor gave the committee a clear mandate, which include tackling the pressing issues of security and land disputes in the State.
“There is a task that we need to handle carefully while this assignment is being carried out. We have to carry it out with the fear of God so that we can have the best time and result. We can see what is happening today. Herders clash here and there.
“You have to confine them to a particular location. That is the essence of this committee. I have people with a wealth of experience on the committee. So, I believe that with God on our side, we are going to achieve our purpose”, he said.
In his remark, Chairman of the committee, General Esekhaigbe (rtd), outlined the committee’s specific terms of reference which include, “regulating the movement of livestock within the State; inspecting, certifying, and registering all ranches; and controlling the activities of cattle herdsmen within various communities.
“I know security is one of the pillars of your five-point agenda, and we all know that one of the causative factors of insecurity in Nigeria as a whole is farming.
“We will do our best to make sure that our assignment, which has been given to us, is carried out to the best of our abilities. And to ensure that these community clashes in farmers’ areas  will not be mentioned in our dear state.”
In a related development, Governor Okpebholo also inaugurated a high-powered Boundary Committee, chaired by the State Deputy Governor, Dennis Idahosa.
The committee is tasked with the responsibility of addressing persistent boundary disputes affecting communities within the State and those bordering neighbouring States.
“I am happy to see this moment because communities, especially the ones that share boundaries with us, have issues that border on clear landmarks.
“We have Lagos, we have Ondo, we have Delta, we have Kogi State. So, we have boundary crises here and there. For this reason, I think the people before me today are the best to handle this task for the betterment of the Edo people,” Okpebholo stated.
Responding, the Boundary Committee Chairman, Dennis Idahosa, assured that the committee will “ensure accurate boundary demarcation, promote peaceful coexistence among communities, and foster development in the areas affected by conflicts while collaborating with all stakeholders and actively engaging with citizens in fulfilling our mandate.”
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