Banking

First Bank announce stoppage of dollar transaction on naira cards

FirstBank Nigeria has announced the stoppage of all international transactions on naira denominated cards due to the forex scarcity in the country. A notification sent to customers reads “Effective 30 September 2022, your Naira card will no longer be enabled for international transactions. Kindly obtain a USD card at the nearest branch.” Customers used to …

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Black Market Dollar to Naira Aboki Exchange Rates Today

The black market Dollar to Naira exchange rate today, Monday, September 15 is ₦705/$1 buying rate and N710/$1 selling rate according to bureau de change operators popularly called Aboki in Lagos and Abuja. These buying and selling rates are highly volatile and can vary depending on your bureau de change merchant, time of day, dollar denomination you are …

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How to Open a United State Bank Account and Credit Card as a Foreign Citizen

Having an American bank account and a credit card comes with plenty of advantages. The US has the world’s largest economy and leads the world in sectors such as trade, technology, fintech, etc. Not to mention the fact that the US dollar is the world reserve currency in which over 80% of global trade is …

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Form M Explained: What it is, Download and Registration

With the persistent FX scarcity plaguing Nigeria, and the security challenges the country is facing, the government is taking several measures aimed at controlling both the exchange rate as well as items coming into the country. Just like the CBN uses Form A to directly sell FX to Nigerian travellers going out of the country …

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momo agent

MTN MoMo Agent PSB Review: The Pros and Cons

MTN’s MoMoAgent Payment Service Bank (PSB) is a new fully licensed service that allows the network provider to provide financial services, including cash deposits and withdrawals, bill payments, and airtime purchases. MoMo agents are kiosk locations where customers can perform transactions and redeem cash sent to them. According to the guidelines of the Central Bank …

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5 ways to buy Dollars with Naira online in Nigeria

Nigeria’s persistent dollar scarcity has led the government to introduce some stringent measures to control access to it. Before now, Nigerians who need dollars could simply perform the transaction with their Naira debit card and the transaction value will be automatically converted to the government’s exchange rate. Now, the government only approves not more than …

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