Trusted Currency Exchange Community
Naira FX is a cutting-edge peer-to-peer platform designed to connect individuals who want to exchange Naira for USD and vice versa. As a digital meeting point, we empower users to engage directly in currency exchange transactions, ensuring flexibility and convenience while eliminating traditional intermediaries.
We are not a Bureau De Change or financial institution and do not set or control exchange rates. Our mission is to provide a secure and transparent space for willing buyers and sellers to connect, enabling seamless transactions powered by trust and mutual agreements.
At Naira FX, your safety and satisfaction are our priorities. We are committed to fostering a community of verified users, ensuring the integrity of every transaction.
Public Notice & User Responsibilities
GENERAL DISCLAIMER
Currency Exchange for Naira
- Naira FX is a peer-to-peer marketplace that facilitates connections between users for currency exchange.
- We are not a Bureau De Change (BDC) and do not hold, exchange, or transfer funds on behalf of users.
- We do not guarantee the completion of transactions or the exchange rates negotiated between users.
USER RESPONSIBILITIES
- Users must ensure that all transactions comply with Nigerian laws, including anti-money laundering (AML) and anti-terrorism financing laws.
- All users are required to complete KYC verification to access the platform’s services.
- Naira FX bears no liability for disputes arising between users.
Security and Compliance Policy for Naira FX
KEY COMPLIANCE PRINCIPLES
Non-BDC Operations
- Naira FX is a digital marketplace, not a currency exchange operator.
- We do not act as intermediaries for funds, nor do we guarantee the outcome of transactions.
- The exchange rates are determined solely by the users, and all transactions are executed directly between them.
Know Your Customer (KYC)
- All users are required to complete a thorough KYC process to verify their identity before participating in any activity on the platform.
- This ensures compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, safeguarding the platform against illegal activities.
Anti-Money Laundering (AML) Measures
- Naira FX monitors and flags suspicious activities. Users engaging in illicit practices, such as laundering funds or fraudulent exchanges, will be removed and reported to the appropriate authorities.
- The platform provides guidelines for users to follow to ensure their activities remain lawful.
User Agreement and Accountability
- Each transaction is governed by mutual agreements between users, with Naira FX serving solely as a neutral facilitator.
- Users are advised to carefully review and agree upon terms before proceeding with transactions.
No Custody of Funds
- Naira FX does not handle or store any funds. All payments occur directly between users through mutually agreed-upon methods.
Transparency and Communication
- Naira FX operates with complete transparency, providing clear terms of use and ensuring that users understand the platform’s scope and limitations.