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How to Open Domiciliary Account with FCMB



How to Open Domiciliary Account with FCMB

This is a foreign currency account with lower operating limits. Domiciliary Savings Account is for those who want to start saving in foreign currencies.

The Domiciliary account is designed to help develop savings habits in foreign currency for people who regularly receive or need to make payments in United States Dollar (USD), British Pound Sterling (GBP), and European Euro. 


The benefits and features of Domiciliary Savings Account at FCMB

  • Opening balance of 60 GBP, 100 USD, 70 EUROS – compare with other local banks who have minimum account opening balance of $100, 100 DBP, and 100 Euros.
  • The Domiciliary Savings Account at FCMB is an Interest bearing account. This interest is forfeited once there are more than 3 withdrawals in a month.
  • The account holder only uses a serialized non-clearing Cheque-type withdrawal booklet for making a withdrawal.
  • The Domiciliary Savings Account at FCMB allows for Foreign Currency Salary payments and cash lodgment.
  • Domiciliary Savings Account at FCMB can be operated either as an individual or a joint account
  • NO charge on cash withdrawal from the Domiciliary Savings Account.
  • Domiciliary Savings Account also offers Issuance of foreign currency denominated drafts
  • It also offers free E-mail transaction notifications
  • Also, it offers free monthly electronic statements
  • Domiciliary Savings Account Access to Debit card to operate your account


The requirements to open Domiciliary Savings Account at FCMB

To open a Domiciliary Savings Account at FCMB, you need the following:

  • Completed account opening form
  • 1 passport photograph with a plain background
  • For you to be eligible to open Domiciliary Savings Account, you must be a minimum of 18 years old and provide either of the following: Voter’s Card or Passport or National ID card or Resident Permit (for immigrants), or Driver’s License.
  • Also, you have to provide address verification. For instance, recent bank statements, utility bills, or local authority tax bills, etc.


How to Fund Your Account at FCMB


Funding of Account via Wire/SWIFT Transfer

To fund your account using transfer, use the appropriate CITI Bank details below:



Currency: USD

Correspondent Bank: CITIBANK, New York, USA

399 Park Avenue, New York, NY10043. The U.S.A.

Swift Code: CITIUS33XXX

Beneficiary Bank: First City Monument Bank Ltd



Account Number: 36887918

Beneficiary Name: Your Name

Account Number: Your account number with FCMB

Currency: GBP

Correspondent Bank: CITIBANK, London, UK

Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB


Beneficiary Bank: First City Monument Bank Ltd,



Account Number: 11871706

IBAN: GB08CITI18500811871706

Beneficiary Name: Your Name

Account number: Your account number with FCMB


Currency: Euro

Correspondent Bank: CITIBANK, London, UK Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB



Beneficiary Bank: First City Monument Bank Ltd,


Account Number: 11871684 IBAN: GB20CITI18500811871684

Beneficiary Name: Your Name

Account number: Your account number with FCMB

Visit the FCMB website to learn more about How to Open Domiciliary Account with FCMB.


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How to Make Money from Home online in Nigeria (6 easy ways)



How to make Money from Home online in Nigeria

If you are a stay at home mom, student, job seeker, full-time employee or someone looking for ways How to Make Money from Home online in Nigeria or any other country.

 No matter where you live, there is always a great space for you to make money online regardless of your location.
 Whether you are looking for a full-time income or a side hustle on the internet space, they are plenty of ways to make money from home online in Nigeria. I will share some legit ways to make money from home online in Nigeria while at home or in your spare time.

1. Become a Freelancer

 A Freelancer is an individual who performs certain roles or offers services to clients online. Such activities can be making research, making travel plans, creating websites, doing copyrighting, creating graphics, editing videos and so more, where to learn freelance skills.
 Upwork, Fiverr, Toper and Linkedin are some of the freelance platforms you can start your Freelance journey. You can read how to get an Upwork approver and how to create a Fiverr account.
 As a Freelancer, you have the flexibility to work online and get paid. You can get your freelance journey on-site like Upwork and Fiverr.

2. Stat a blog or YouTube channel

 Turn your knowledge or interest into cash by sharing your content as text on your blog and video on your YouTube channel. They are many ways to monetize your blog, either through ads revenue or through affiliate marketing and on. Your earning potential is endless.
 While on youtube you can earn money through ads with Google Adsense, businesses will pay you to place an advert on your Youtube Channel. You can also earn through advertising your product or services.
 But they are certain requirements you must meet to start making money through Google AdSense on your blog or YouTube channel. Although you an start earning immediately with the extra form of monetization you can use to make money online on your blog and youtube channel.

3. Cryptocurrency

 Cryptocurrency is one of the biggest ways you can make money online in Nigeria. The crypto world is a huge possibility to make money. With a good guide on Cryptocurrency. You could start making money with little or no loss. All you have to do is to invest in coins that have high potential but buy at low prices and sell when the price hit up. This can be a good investment for you.

4. Offer a service online

 To make money from people you have to offer them services they are willing to pay for and you can do this online. What skills do you currently have now that you can offer as a service to make money online? It could be Graphics design, Writing, Website development, copyrighting. Whatever skills you have think of ways you can monetize it online.

5. Create online courses

 Have a skill you mastered and know how to teach create a course on it and sell it. You would be amazed by the huge number of people who are interested in purchasing your course. In creating online courses all you need is a good screen record, camera and nice audio quality.
 The earning potential is huge and you can make huge figures selling your courses online.

6. Join affiliate marketing

 Affiliate marketing is one of the best ways to money online, sell people products or services and get your commission. They are a lot of good affiliate marketing programs in Nigeria and beyond. Affiliate programs like Jvzoo, Clickbank, Expertnaire. You can also make money by starting these lucrative businesses in 2022

Others way on How to Make Money from Home online in Nigeria worth knowing

  1. Ebook creation
  2. Social media manager
  3. Joining refer programs
  4. Selling products on Whatsapp
  5. Testing app and website
  6. Reviewing books and getting paid


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‘Trading is gambling, no doubt about it’ – Does cryptocurrency dealing fuel addiction?



‘Trading is gambling, no doubt about it’ – Does cryptocurrency dealing fuel addiction? This is a question coming up and asked on therapy couches as a new trend is beginning to emerge.

Raised on the remote Shetland archipelago, he left school at 13 to become a trawlerman before moving into construction, eventually earning £85,000 a year digging tunnels for Crossrail.

Despite his self-made success, compulsive cryptocurrency trading, alcohol and drug use took over his life.

In the fog of multiple addictions, he lost the “addresses” of between five and 10 bitcoins, rendering his digital buried treasure – worth up to £300,000 today – impossible to retrieve.

Steven spotted the potential of bitcoin early and he had a talent for trading. But even if he had that money now, his addiction means it would soon be squandered.

“Trading is gambling, there’s no doubt about it,” he says.

“I studied and studied. I taught myself how to be a good trader and tried really hard to manage my accounts and stick to a set of rules.

“But my mind would twist and I’d go all in, like a poker player that thought he had the perfect hand. I was convinced I was going to be a bitcoin millionaire.”


Now in recovery at the Castle Craig residential treatment clinic in Scotland, Steven fears that legions of young people are being lured into high-risk trading and potentially addiction, based on the same misguided quest for untold riches.

“A whole generation think that with a little mobile phone they can win, that they can … beat the market,” he says.

“It scares the bejesus out of me.”

‘Trading is gambling, no doubt about it’ – Does cryptocurrency dealing fuel addiction?© Provided by The Guardian Representation of cryptocurrency dogecoin. Photograph: Dado Ruvić/Reuters

Steven’s fears are founded partly on crypto’s rapid emergence into the mainstream.

When he started investing in 2015, digital currencies meant nothing to most people.

Now, they are being touted as a more democratic alternative to a monopolistic and exploitative global financial system.

As the Guardian revealed on Friday today, crypto firms launched a record-breaking promotional push in London last year, targeting millions of commuters with 40,000 adverts on billboards, at tube stations, in carriages and across the side of double decker buses.


Advertisers included relatively obscure names such as Hex, Kraken and Puglife about whom consumers know little, if anything.

Meanwhile, football clubs and players, not to mention globally recognised celebrities, tout crypto investments on a daily basis via social media.

This week, reality TV star Kim Kardashian West and boxer Floyd Mayweather Jr were named in a lawsuit alleging that they helped promote crypto firm EthereumMax, as it made “false and misleading” statements that left investors nursing heavy losses.

An Instagram post about EthereumMax, to Kardashian’s 250 million followers, may have been the most widely seen financial promotion of all time, according to the head of the UK’s Financial Conduct Authority (FCA).

Yet despite their ascendancy – and warnings that governments could suffer “limitless” losses – cryptoassets remain unregulated in the UK, pending a Treasury review.

That means that the FCA, the UK’s financial regulator, is all but powerless to influence how the industry behaves.

While some trading platforms that offer digital assets are regulated – because they also offer more traditional financial instruments – crypto coins and tokens are not.


Cryptoasset executives do not have to prove that they are fit and proper people to take people’s money. The companies they run are not required to hold enough cash to repay investors if they go bust. Nor must they worry about the FCA’s stipulation that financial promotions, such as those splashed across public transport in London, are fair, clear and not misleading.

Amid the marketing blitz, the Advertising Standards Authority is the only watchdog that has bared its teeth. It is investigating one advert by the cryptocurrency Floki Inu and has already banned one for Luno Money.

‘Trading is gambling, no doubt about it’ – Does cryptocurrency dealing fuel addiction?© Provided by The Guardian A cryptocurrency poster advert at a London tube station. Photograph: Gavin Rodgers/Alamy

“If you’re seeing bitcoin on a bus, it’s time to buy,” the Luno advert insisted, contrary to prevailing investment wisdom.

Luno Money told the Guardian it would welcome an “effective regulatory framework”.

But in the ongoing vacuum of oversight, experts fear that cautionary tales of addiction, such as the one told by Steven, are being drowned out by powerful, overwhelmingly positive messages.

To monitor the type of messaging sent out by marketing teams, the Guardian created an experimental cryptocurrency portfolio – holding a mixture of bitcoin, ether and Shiba Inu.

As bitcoin slumped towards the end of 2021 and into 2022, having reached all-time highs just weeks earlier, the Twitter account of smartphone trading app eToro remained doggedly optimistic.


“Is bitcoin on its way to a new high?,” it asked, as the slide began. “We’ve seen bitcoin rally before. But could this be the one to take it to the MOON?”

The answer, for the time being at least, was “No”. But holders of crypto portfolios were encouraged to stay positive.

“Your account gained 1.87% yesterday,” one app notification read, as the slump abated. “You had a good day. Share the news with everyone.”

No such invitation appeared on the far more frequent days when the value of the Guardian’s portfolio went down.

“It’s a very strategic marketing ploy,” says Dr Anna Lembke, one of the world’s foremost addiction experts, professor of psychiatry at Stanford University School of Medicine and author of the book Dopamine Nation.

“They’re encouraging you to amplify the wins and ignore the losses, creating a false impression there are more wins.”

Asked about this, eToro says that it is “committed to helping retail investors engage with each other and foster an environment of learning and collaboration”, adding that its platform is not “gamified”.


According to eToro’s UK managing director, Dan Moczulski, some users make their account public so that “all investments are visible to others, whether they are profitable or not”.

The company said it also provides educational tools, performs know-your-customer checks and encourages long-term, diversified investing.

But Dr Lembke is concerned by the potential for the social media element to fuel compulsive behaviour in crypto trading, an activity she says bears the hallmarks of addictive gambling products but without the acknowledged risk.

“When you mix social media with financial platforms, you make a new drug that’s even more potent,” she says.

Social media posts pushing crypto frequently refer to Fomo – the fear of missing out – fuelling an urge to participate.

“You get this herd mentality where people talk to each other about what the market is doing, they have wins together, losses together, … an intense shared emotional experience.”

“We get a little spike in dopamine, followed by a little deficit that has us looking to recreate that state.”


This, she says, echoes characteristics of gambling but with a crucial difference.

“It’s less stigmatised,” she says. “It has this socially sanctioned status as something that maverick smart people do.”

Parallels with gambling are becoming harder to ignore.

GamCare, which runs the National Gambling Helpline, said it fields about 20 calls a week related to crypto. Callers reported trading for 16 hours a day, making huge losses and struggling to cope with the guilt.

As with gambling, where every one addict is estimated to harm seven other people, many were suffering at the hands of someone else’s habit.

One recounted how her partner’s trading obsession was leading them to spend time away from the family. Another said their partner had taken to trading while in recovery from alcoholism, spending every waking hour making trades.

GamCare has even dealt with young patients who bought digital coins in a desperate attempt to make enough money to get on to the property ladder, only to lose life-changing sums.


At Castle Craig, where Steven is receiving treatment, the first crypto addict arrived at the clinic in 2016, followed by more than 100 since then.

“More and more people are isolated and are doing this [trading], especially since Covid,” says Tony Marini, the senior specialist therapist at the clinic and a recovering gambling addict himself.

“It’s tenfold already since 2016, so what’s it going to be like in the next five years?”

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Nigerian Govt Lifts Twitter Ban After Conditions Met



Seven months after Nigeria shut out more than 200 million people from the social networking site, Nigerians will have Twitter back.

The government announced the suspension of the social media platform in June 2021, after it deleted a controversial tweet by President Muhammadu Buhari. The government also accused Twitter of working against Nigeria’s interests.

The government stipulated that five conditions were to be met before the suspension would be lifted. This included that Twitter pay attention to national security and cohesion, registration, physical presence, and representation in Nigeria, as well as dispute resolution, and local content”.

The government has said the conditions have been met.

“The immediate and remote cause of the suspension was the unceasing use of the platform by some unscrupulous elements for subversive purposes and criminal activities, propagating fake news, and polarising Nigerians along tribal and religious lines, among others,” he said.

He noted that digital platforms and their operators wield enormous influence over the fabric of society, social interaction and economic choices and could be used either as a tool or a weapon.

“Every nation is grappling with how to balance its usage efficiently. Without balancing, every citizen’s security, privacy, social well-being, and development are at stake,” he said.


Mr Abdullahi added that the suspension of Twitter was a deliberate attempt to recalibrate Nigeria’s relationship with Twitter to achieve the maximum mutual benefits, “without jeopardising the justified interests of the Company.”

“Our engagement has been very respectful, cordial, and successful,” he remarked.

He noted that Twitter is a platform of choice for many Nigerians ranging from young innovators to public sector officials who find it helpful to engage their audience.

Read Mr Abdullahi’s full statement below.


The Federal Government of Nigeria (FGN) directs me to inform the public that President Muhammadu Buhari, GCFR, has approved the lifting of the suspension of Twitter operation in Nigeria effective from 12am tonight, 13th January 2022. The approval was given following a memo written to the President by the Honourable Minister of Communications and Digital Economy, Prof Isa Ali Ibrahim. In the Memo, the Minister updates and requests the President’s approval for the lifting based on the Technical Committee Nigeria-Twitter Engagement’s recommendation.

2. You may recall that on 5th June 2021, the FGN suspended the operation of Twitter through an announcement made by the Honourable Minister of Information and Culture, Alh Lai Mohammed. Thereafter, the President constituted a seven-man Presidential Committee to engage Twitter Inc. Subsequently, in its wisdom, the Presidential Committee set a 20-member Technical Committee comprising all relevant government agencies. The Technical Committee engaged and worked directly with the Twitter team.


3. The immediate and remote cause of the suspension was the unceasing use of the platform by some unscrupulous elements for subversive purposes and criminal activities, propagating fake news, and polarising Nigerians along tribal and religious lines, among others. These issues bordering on National Security, Cohesion and the effects of the abuse of the Twitter platform forced the FGN to suspend the operation of Twitter to address the direct and collateral issues around its operations in Nigeria.

4. The new global reality is that digital platforms and their operators wield enormous influence over the fabric of our society, social interaction and economic choices. These platforms can be used as either a tool or a weapon. Every nation is grappling with how to balance its usage efficiently. Without balancing, every citizen’s security, privacy, social well-being, and development are at stake. Therefore, our action is a deliberate attempt to recalibrate our relationship with Twitter to achieve the maximum mutual benefits for our nation without jeopardising the justified interests of the Company. Our engagement has been very respectful, cordial, and successful.

5. The process of resolving this impasse between the FGN and Twitter Inc. has helped lay a foundation for a mutually beneficial future with endless possibilities. Twitter is a platform of choice for many Nigerians ranging from young innovators to public sector officials who find it helpful to engage their audience. Therefore, our engagement will help Twitter improve and develop more business models to cover a broader area in Nigeria. Furthermore, the FGN looks forward to providing a conducive environment for Twitter and other global tech companies to achieve their potential and be sustainably profitable in Nigeria.

6. While appreciating all Nigerians, especially the vibrant Nigerian youths who have borne with the long wait to resolve this impasse, the FGN is happy to say that the gains made from this shared national sacrifice are immeasurable. Some of the gains include:

a) Ongoing economic and training opportunities as the Company continues to consider expanding its presence in Nigeria;

b) Getting a better understanding of how to use the Twitter platform effectively to improve businesses;

c) Revenue generation from the operation of Twitter in Nigeria;


d) Smooth and coordinated relationship between Nigerian Government and Twitter leading to mutual trust;

e) Reduction of cybercriminal activities such as terrorism, cyberstalking, hate speech, etc.; and

f) Working with Twitter and other global companies to build an acceptable code of conduct following the global best practice.

7. The FGN has asked Twitter to fulfil some conditions before restoring its services. These conditions addressed legal registration of operations, taxation, and managing prohibited publication in line with Nigerian laws. Twitter has agreed to meet all the conditions set by the FGN. Consequently, the FGN and Twitter have decided on an execution timeline, which has started this week. Our engagement with Twitter opens a new chapter in global digital diplomacy and sets a new operational template for Twitter to come back stronger for the benefit of Nigerians.

The following are the resolutions agreed with Twitter. Inc.:

i. Twitter has committed to establishing a legal entity in Nigeria during the first quarter of 2022. The legal entity will register with the Corporate Affairs Commission (CAC). The establishment of the entity is Twitter’s first step in demonstrating its long-term commitment to Nigeria.

ii. Twitter has agreed to appoint a designated country representative to interface with Nigerian authorities. The Global Public Policy team is also directly available through a dedicated communication channel.


iii. Twitter has agreed to comply with applicable tax obligations on its operations under Nigerian law.

iv. Twitter has agreed to enrol Nigeria in its Partner Support and Law Enforcement Portals. The Partner Support Portal provides a direct channel for government officials and Twitter staff to manage prohibited content that violates Twitter community rules. At the same time, the Law Enforcement Portal provides a channel for the law enforcement agencies to submit a report with a legal justification where it suspects that content violates Nigerian Laws. Taken together, these represent a comprehensive compliance apparatus.

v. Twitter has agreed to act with a respectful acknowledgement of Nigerian laws and the national culture and history on which such legislation has been built and work with the FGN and the broader industry to develop a Code of Conduct in line with global best practices, applicable in almost all developed countries.

8. Therefore, the FGN lifts the suspension of the Twitter operations in Nigeria from midnight of 13th January 2022. We encourage all users of the Twitter platform to maintain ethical behaviour and refrain from promoting divisive, dangerous, and distasteful information on the platform. As patriotic citizens, we need to be mindful that anything illegal offline is also illegal online and that committing a crime using a Nigerian Internet Protocol (IP) is synonymous with committing a crime within our jurisdiction.

9. Considering Twitter’s influence on our democracy, our economy, and the very fabric of our corporate existence as a Nation, our priority is to adapt, not ban, Twitter. The FGN is committed to working with Twitter to do anything possible to help Nigerians align and navigate Twitter algorithmic design to realise its potentials while avoiding its perils.

10. In his approval, the President appreciates the Presidential Committee led by the Honourable Minister of Information and Culture, Alh Lai Mohammed, for the supervisory role and guidance given to the Technical Committee during the engagement. Similarly, the Presidential Committee commends the Technical Committee for a professional, robust and productive engagement with Twitter Inc. It also appreciates Government Regulatory Agencies and Internet Service Providers who implemented the FGN’s directives during the suspension.

Kashifu Inuwa Abdullahi, CCIE
Chairman Technical Committee Nigeria-Twitter Engagement and
National Information Technology Development Agency (NITDA)

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Lawd! 207,527 investors, crypto accounts liquidated, as Bitcoin loses $4K



It’s no longer news that the flagship crypto lost about $4K in just a few hours after notes from the Fed’s December FOMC session re-confirmed plans to reduce the balance sheet. This has sent many investors scurrying and selling off the crypto.

As the dollar strengthened and positive economic data from the U.S. shook investors’ grip on risky financial assets, bitcoin dropped to $42.5K with record-selling observed in the early hours of Thursday.

An intraday sell-off was triggered after the Federal Reserve indicated a rate hike may occur in March rather than the usual timeframe.

More than $800 million worth of trading positions were liquidated during the day, with 207,527 traders liquidated. $10 million worth of XBTUSD was liquidated on Bitmex.

As investors rush to safe-haven currencies, others are turning to alternative cryptocurrencies (altcoins) like Solana, XRP, and Polkadot, which are down more than 10%.

For now, despite the spotlight on altcoins, buying pressures have declined in both Bitcoin and Ethereum. If BTC does not break back above $45K, the market may experience an extended bear period in which it could retrace to the low $30K range.

Crypto market capitalization is $2.04 trillion, down 8.53% since yesterday. However, activity is on the surge as the total crypto market volume for the day is $122 billion, an increase of 18.25%.


At present, bitcoin dominates the market with 39.74%, up by 0.39% since yesterday. BTC’s dominance ratio – or the measure of BTC’s market capitalization in relation to all crypto – continued to decline on Wednesday, reaching 39%.  This is the lowest ratio since April 2018, when crypto markets were in a bear market

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