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How to Send and Receive Money in Nigeria

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How to Send and Receive Money in Nigeria

A lot of people have been wondering how to receive funds from their business partners, colleagues, friend, and family member from outside the shores of Nigeria.  If you have a friend or family members, or business partners from outside Nigeria from whom you intend to receive monies. Or you are an exporter, looking for ways to get your payments from the United States, Canada, Jamaica, UK, Germany, Australia, China, UAE, Turkey,  Malaysia, Indonesia, Philippines, Pakistan, India, Cameroun, Kenya, South Africa, etc to Nigeria, read on for we are to give you a step-step guide on how to get your funds across to Nigeria.

From the recently released Central Bank of Nigeria guideline on international money transfer, it is a lot easier now to receive money from outside Nigeria into your bank account or mobile money wallet in Nigeria, than it is to send money out of Nigeria. From the guideline just released by the CBN, there is no limit to the amount of cash one can receive from out Nigeria, but you cannot send more than $2000 or its equivalent per transaction.

We will be discussing; how to receive funds from outside Nigeria into your bank account or mobile money wallet in Nigeria.  Continue reading as we discuss several ways to send money to Nigeria and how to receive the sent funds. We hope the following means discussed on How to Send and Receive Money in Nigeria would be beneficial to you.

 

Ways of receiving money in Nigeria from abroad

There are several ways of sending and receiving money from outside Nigeria, we will be looking at the following which are the most convenient ones for now.

  1. Domiciliary account – International Bank wire transfer
  2. Western Union via Quickteller to your bank account
  3. MoneyGram
  4. Western Union money transfer
  5. Online money transfer
  6. Payoneer

 

Domiciliary Account – International Bank Wire Transfer

International Bank wire transfer direct into a Domiciliary account is one of the best ways to receive foreign currency in Nigeria for those who have a domiciliary account in Nigeria. Most of the banks in Nigeria have domiciliary account types for the United dollar (USD), Euro (EUR), and Great Britain Pound (GBP).  Zenith Bank, UBA, First Bank, FCMB, and GTBank all have various forms of domiciliary accounts.

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To receive money into your domiciliary account in Nigeria through international wire transfer, you have to have a domiciliary account in any of the local banks in Nigeria.

The person sending funds to your domiciliary account in Nigeria will require the following details from your domiciliary account to be able to send funds directly into your domiciliary account. Primary details required are:

  • Your account name
  • Account number
  • Name of your bank
  • The Address of your bank
  • SWIFT CODE of your bank
  • The Routing Number of your bank.

An alert of a successful transfer enters within 72 hours.

 

Withdrawing money from a domiciliary account

You can withdraw cash in the same currency it was sent from your domiciliary account. The process is the same as the withdrawal from your regular naira account. If you wish not to collect your cash in the currency it was sent, you can request its equivalent from your local bank.

  • Go to the nearest branch of your bank once you receive an alert about the international wire transfer.
  • Meet the person in charge of foreign currency transactions.
  • Get the withdrawal slip, complete the withdrawal slip and hand it over for processing.
  • Voila!!!

 

To receive western union money transfer via Quickteller to your bank account

QUICKTELLER Platform is a financial service application that allows you to purchase airtime, pay bills, send and receive money via the web (www.quickteller.com).

Follow the following steps to receive funds from Western Union using Quickteller

  • Visit www.quickteller.com and signup for a Quickteller account
  • Click on the Send and Receive Money tile
  • Then click on the Western Union tile
  • Select your bank, either Zenith, GTBank, or FCMB
  • Also, select “Naira” under “Choose currency”
  • Click “Receive money now” and the Western Union – Receive Money data page opens
  • Now carefully enter the following details:
  • Enter as provided by the sender the MTCN (Money Transfer Control Number)
  • Also, enter the name of the sender’s Country
  • Enter the receiving account number (i.e. your bank account number where you wish to receive the funds)
  • Also, enter the receiving account type i.e. either current or savings
  • Enter the expected amount in Naira as provided by the sender
  • Under Receiving Currency leave the name of the bank and Naira as default.
  • First Name – which is your account’s first name as it appears at your bank. (Receiving Account)
  • Surname – which is your account surname as it appears at your bank. (Receiving Account)
  • Your mobile number
  • as provided by the sender, answer to test question
  • Then click “Continue”
  • Confirm the details provided”

Note: Money from Western Union can only be received from the location indicated by the sender and in the local currency. In this case, the Naira.

 

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Receive money in Nigeria through Western union

I will use Access bank Western Union transfer as a typical example to explain to you how to receive money in Nigeria via western union.

 

Receive Western union Nigeria through Access Bank

Access bank has proven to be reliable when it comes to receiving money from outside Nigeria. With a robust infrastructure, technology, and several years of partnering with Western Union, they have the needed competitive edge.

To receive money from Western Union through Access bank, Access bank will request the following from you before they can process your payment;

  • A valid means of identification, preferably, Passport, Driver’s License, Permanent Voters Card, or National Identity Card (NIMC).
  • Money Transfer Control Number (MTCN)
  • Expected Amount in Naira
  • The receiver’s name, address, and phone numbers
  • Sender’s name and country (for transfers coming from the US and Mexico, city to be included)
  • Test Question and Answer where applicable.

The maximum send amount as stipulated by the Central Bank of Nigeria is 5000 USD or its equivalent per sender.

The steps are the same as other banks such as First Bank of Nigeria.

 

How to receive money in Nigeria through MoneyGram

MoneyGram International, Inc., an American money transfer company with headquarters in Dallas, Texas United States. It has local offices around the world.

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First Bank of Nigeria is one of Nigeria’s banks that offers the best MoneyGram service. We will use First Bank MoneyGram service to explain to you how to receive money in Nigeria through MoneyGram

How to receive money in Nigeria through First MoneyGram

To receive money in Nigeria through UBA MoneyGram;

Beneficiaries of MoneyGram can receive transferred money at any of First Bank outlets by providing the following:

Transfer Reference Number

Expected Amount

Acceptable means of identification (Bank Verification Number)

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Sender’s name and country (for transfers coming from the US, city to be included)

Test Question and Answer (optional)

Fully completed form

Then request that the money be sent to your bank account.

 

How to send money to Nigeria online

There are several companies, most of them in the US that offer online money transfer services to countries all over the world, including Nigeria. A lot of businesses especially in the United States don’t send funds outside the United States. They prefer dealing with people who have an account in the United States. Most of these companies that offer online money transfers took advantage of these.

All you need to do is open a free account with them with the detail we will give you shortly and they open a virtual account for you from where you will be able to initiate international transactions from the comfort of your room.

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The upside of these online money transfer services is that they are quite simple and they pay directly into your domiciliary bank account.

Online money transfers will enable you to take advantage of competitive exchange rates.

However, ensure you signup with an online money transfer service that offers fast transfer speeds.

A lot of companies that offer online money transfer to countries all over the world including Nigeria. Some of them are; Payoneer Smallwordfs, Worldremit, Transfast, Remittanceprices, skrill, etc.

 

To start sending money to Nigeria online

  • visit any money transfer company above (Payoneer our preferred online money transfer services provider ) and Create a free account
  • follow the steps for registration carefully. Provide your contact details, name, proof of identity, and bank account information (if you are not sending cash).
  • Provide contact information for your transfer recipient
  • Select a payment option and enter the full details of your transfer
  • Keep track of the reference number or receipt you receive to monitor the progress of your transfer
  • Select a cash pickup location. Companies like Western Union and MoneyGram offer the option of cash pickups from thousands of agent locations across Nigeria. From Payoneer, you can transfer directly into your local bank account or your domiciliary account.

 

How to Send and Receive Money in Nigeria – Payoneer  (www.payoneer.com)

This is a financial services company that provides online money transfer, digital payment services, and provides customers with working capital.

Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure, and low-cost solutions, marketplaces, networks, businesses, and professionals throughout the world can pay and get paid globally, as easily as they do locally.

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Payoneer’s cross-border payments platform empowers businesses, online sellers, and freelancers to pay and get paid globally as easily as they do locally.

Also, Payoneer offers to receive accounts via the Global Payment Service, which enables you to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, Canada, Australia, and Mexico directly to your Payoneer account.

Quick, easy, and low-cost access to your earnings is critical when growing your business. With Payoneer’s Withdraw to Bank Service, you can transfer funds from your Payoneer account, directly to your local bank account in over 150 countries and currencies. Our comprehensive global banking network enables us to transfer funds from a local bank in your country, so you significantly reduce the cost of getting paid and avoid delays.

 

HOW DO YOU BENEFIT?

  1. Reduce your payment fees

Increase your earnings by reducing your payment fees by up to 71%.

  1. Accept payment in more currencies

Accept payments in USD, EUR, GBP, JPY, AUD, CAD & MXN – as if you had a local bank account!

  1. Offer customers a simple way to pay

Also, offer a simple, quick, and cost-effective solution for both you and your customers!

  1. Get the help you need

Enjoy multilingual customer care 24 hours a day, 7 days a week!

Grow your business globally with a Payoneer account today

Visit www.payoneer.com to open an account for Free

 

 

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How to Send and Receive Money in Nigeria – Wise (www.wise.com)

Wise

Wise (formally TransferWise)– is a London-based online money transfer service founded in January 2011. Wise supports more than 750 currency routes across the world including GBP, USD, EUR, AUD, and CAD, and provides multi-currency accounts.

With Wise, you pay a low, upfront fee between 0.5% and 2%, depending on the route. Wise transfers money directly to your local bank account. This makes them much cheaper compared to other providers and banks.

Wise transfer fees are very low when compared with other companies. For withdrawals of 500.00 USD and under, Wise charges a minimum fee of 10.00 USD.

It is very important to note here that the most convenient channel to receive money using Wise in Nigeria is through a Domiciliary account. We have also written how to open a domiciliary account in several banks in Nigeria.

 

Wise is officially enrolling to be a member of the Amazon payment service provider program, which means that any business selling on Amazon can now officially use Wise to receive their sales earnings in multiple currencies.

 

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Why businesses selling on Amazon should use Wise?

  • No subscription or monthly fees, only pay when you convert money

  • Pay invoices in over 50 different currencies

  • Connect your Wise account to marketplaces to receive money without converting it. Receive USD, CAD, GBP, EUR, SGD, AUD, NZD, and TRY, for free!

  • Integrations with accounting tools, including Xero, Quickbooks, and Freeagent

  • Direct Debit functionality to pay sales tax abroad (available for the US, UK, Europe, Canadian, and Australian account details)

  • Wise debit card (available in select countries) to use for online payments and expenses
  • Discounted fees for high-amount transactions and much more!

    Visit www.wise.com to get started

WorldRemit

This is a financial service institution based in Uk. WorldRemit offers low-cost money transfer services to several countries, including Nigeria. With WorldRemit, you can only receive money in Nigeria, but you cannot send money out of Nigeria.

 

How to Send Money to Nigeria using WorldRemit

  • Visit the WorldRemit website at worldremit.com signup to create an account.
  • Click on my account, then, click on my details to enter all your personal information.
  • Select the country and amount you want to send
  • Enter your recipient’s details (name, address, phone number) and bank details (bank name, IBAN number, and SWIFT code)
  • Pay for your transaction using any of these options; Card (debit, credit, and prepaid), Bank Account Transfer, Poli, Interac, iDEAL, Klarna (Sofort), Apple Pay, Trustly, and Mobile Money.

Note: WorldRemit will verify you before you can send money. So, keep a government-issued ID such as a National ID, Passport, or Driving License handy. Also for the verification of your address, keep handy Utility Bill, or a Bank / Credit card statement that is not older than 3 months.

 

How to Receive Money in Nigeria Using WorldRemit

WorldRemit has two functional methods through which you can receive money in Nigeria; Cash pickup, and Bank transfer.

 

Cash pickup

Your recipient can collect physical cash from the following banks in Nigeria; Union Bank, Access Bank, Zenith Bank, Polaris Bank, First Bank, and Fidelity Bank. Cash is usually ready for pickup at these locations within hours of transfer.

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What does your recipient need to collect cash?

  • Your recipient needs a Valid photo ID that shows their full name. The name on the photo ID must match the details supplied on the transaction. Ensure that you check this very well before sending funds.
  • The thing you recipient need is the transaction reference. This will be sent to your recipient by SMS once the payment is available for collection. Ensure that the phone number of your recipient is accurate before creating your transaction. You can also share the transaction reference with your recipient when the pick-up is ready for collection.

 

Bank transfer

This allows you to send money from your bank account to your family or friends’ bank accounts all over the world. In the case of Nigeria, Money can only be wired to a domiciliary account.  It usually takes up to 2 business days before funds will arrive in your recipient DOM account.

 

The under-listed are some of the online money transfer cash pickup locations across Nigeria;

 

Worldremit transfer to Nigeria

ACCESS BANK – SABO BRANCH

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Address: 290 Herbert Macaulay Way, Yaba100246, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234-01-277 0069

ECOBANK

Address: Mushin, 118 Agege Motor Rd, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234 704 145 0672

 

Western Union money transfer to Nigeria

ALABA MAIN

Address: 1 Agudosi Street Alaba International Market Alaba, Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-7613794

KEYSTONE BANK AKOKA

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Address: 23 St Finbarrs College Rd Yaba Yaba Lagos Yaba, Lagos 234. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-7432454

SKYE BANK SHOMOLU BRANCH

Address: 6 Bajulaiye Street Shomolu Lagos, Lagos. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-2703090

 

Moneygram transfer to Nigeria

UNITED BANK FOR AFRICA

Address: RD NNS Quorra Harbour Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-5872143

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UNITED BANK FOR AFRICA SEME BORDER – #04

Address: Abuja Badagry Express Way Seme Border FCT Lagos. Hours: 8:00 AM – 6:00 PM. Phone: +234-01-2311061

UNITED BANK FOR AFRICA

Address: Luth Road 1 Idi Araba Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-8114353

 

How to send and receive money in Nigeria- Things to know before sending money to Nigeria

There are a good number of things to know before you send money to Nigeria. Below, we try to point out some of these things that you need to know before initiating a cash remit to Nigeria.

  1. Exchange rates

Most all the online money transfer service providers skew exchange rates to make more profits. You can always compare the exchange rate you are offered with the rate in the international foreign exchange market. Always go for companies that offer the most reliable and cheapest transfer service.

 

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1. Transfer fees

Most of the online money transfer companies charges varying transfer fees. Some of them charge a flat fee while some others charge a percentage of the total transfer sum. Also, some can even offer a fee-free transfer, while others even pay a certain percentage when you make a certain amount of transfer.

 

2. Payment and delivery options

Some online money transfer companies allow you to pay with a credit card, by phone, or through an app. Also, some others receive money on your behalf from your clients or business partners who are unable to remit funds to you directly to Nigeria.  Others offer agent locations for cash payments and pickups.

Before you engage any of the service providers, try to confirm how the beneficiary will receive the transferred funds, whether it is through a bank account, mobile money wallet, or cash pickup.

 

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3. Transfer speed

It is also very important to know how fast funds move. Some companies like MoneyGram and Western Union allow for speedy cash pickup, most time with hours. However, the fast the requested time of delivery, the higher the cost of funds transfer. Independent providers offer cheaper rates but slower terms of delivery speed.

4. Transfer limits:

Some online money transfer companies have a certain limit on cash transfers. Always ask to know this transfer limit. The large transfer also attracts a relatively moderate rate. Compare the rate among these companies.

 

5. “Hedging” options:

Ask your transfer providers if you can schedule payments ahead of time or protect your transfer funds against fluctuations in market prices with a limit order or forward contract.

6. Customer support

This is extremely important. Try to know how responsive their customer support is. In the event of delay or errors, You can contact them through phone, internet chat, or email. Know how readily available you can get assistance when you need one.

Follow the steps listed above from the service providers above and you are sure to receive your funds in Nigeria. Most of them are very simple and easy to use.

In case you have difficulty using any of the services listed, please let us know by dropping your comments, suggestion, or questions in the comment box below.

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BUSINESS

Top 5 Political Campaigns in Nigeria

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The elections are here again and with the elections in full swing, things are heating up. Awesome ampaign agencies internationally such as Brand Envoy Africa, impact politics, Anttention Media have done amazing work that helped secure political positions for candidates and winning over the electorate.

Let’s take a peep down memory lane into the top 5 political campaigns we’ve seen (or read about) in Nigeria since the 1950’s.

1. Moshood Kashimawo Olawale Abiola, SDP 1993

Top 5 Political Campaigns in NigeriaThat year’s election is still regarded in many quarters as perhaps the freest and fairest election Nigeria has ever had. Chief Abiola campaigned on the slogan Hope ’93 and smarting from the Structural Adjustment Policy, SAP, of the Babangida regime that had sapped many Nigerians economically, Chief Abiola’s message rang a bell especially with that memorable jingle. The result was a resounding vote for the Social Democratic Party candidate.

2. Goodluck Ebele Jonathan, PDP 2011/2015

Top 5 Political Campaigns in NigeriaGEJ’s presidential campaign in 2011 was a big hit Promising a breath of fresh air, he played the role of the underdog to a hilt especially with that famous line “I had no shoes”. The African campaign agency “Brand Envoy Africa played a key role. His message resonated with the Nigerian masses as they lapped up to him. He gave many hope that ordinary people could rise to the top in Nigeria, he became the poster boy for the new Nigerian dream and despite some irregularities in the elections, he won. The rest as they say is history.

3. Peter Ayodele Fayose, 2014

Top 5 Political Campaigns in NigeriaImpeached in 2006 on charges of corruption, Governor Fayose was back in power in 2014, defeating the cerebral Kayode Fayemi in the process. Although his campaign didn’t have any clearly defined message, Fayose endeared himself to the electorates with a good mix of populist tokenism (or stomach infrastructure as he called it) and street smart. While his opponents hit it big on social media, Fayose ate pounded yam and drank palmwine with the ‘real’ voters and for all his troubles, he beat the incumbent in all the 16 local government areas of the state.

4. Babatunde Raji Fashola, ACN 2011

Top 5 Political Campaigns in NigeriaIn 2010, BRF as he’s popularly known was contesting to be re-elected as governor of Lagos, Nigeria’s economic nerve center and on the basis of his performance in his first term, his candidature was quite popular with the electorates. However, the SAN with a sound mind gave nothing to chance as he went all out, campaigning on the platform of continuity…’BRF is working’ his posters screamed. The result was a landslide victory at the polls, leaving the People’s Democratic Party candidate far behind in a cloud of dust.

5. Obafemi Jeremiah Oyeniyi Awolowo, AG 1959

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Top 5 Political Campaigns in NigeriaChief Awolowo’s Action Group was at the time regarded to have been the best organised political party in Nigeria with a clearly defined ideology and manifesto and he ran an equally efficient campaign in that year’s elections. Awo traversed the length and breadth of the nation in helicopters, reaching out to the commoners with a promise of improved welfare, free education and health as espoused by his political party. Although Awo’s party couldn’t secure enough votes beyond the western region to have enabled him become Nigeria’s first prime minister, his campaign was undoubtedly innovative and far ahead of its time. Some other time, some other clime perhaps history would have been different.

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Workplace Extramarital Office Affairs: How To End It maybe retain your job

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Workplace extramarital office affairs are more rampant than we think. In a work environment, sharing accomplishments, risk and intensity can open up new levels of intimacy between colleagues. The long hours put in at the office in close proximity with that colleague does not help either. If these situations aren’t handled properly it could trigger the budding of a work-place affair.

Office Extramarital Affair Facts You Should Know…

After understudying workplace affairs for a period, a pattern began to emerge. Facts that I believe everyone currently involved in or romanticizing with the idea of kicking off an office affair should know.

  • 39% of workers had relationships in the office at least once
  • 35% have kept office affairs hidden and tried to sort it out even though they knew it affected their work
  • 24% are attracted to someone of the opposite sex who had similar jobs
  • Office Affairs were most common  in the following sectors: Banking & Finance, Hospitality & Leisure, Information Technology, Healthcare, Media/Entertainment and Business Service

Only about 17% of these affairs end in marriage. The other 83% ends in personal, marital and professional problems with far reaching consequences that would be discussed in the real world by ex-colleagues many years later (when they see you). The decision to either continue with or end an extramarital office affair is something I totally leave up to you. However this article is for the latter group. The hardest part about having a workplace affair is seeing each other after you have decided to end things with an affair partner. However its not a totally lost cause because there are basic steps you could take to begin correcting this mess.

After being blessed enough to sit with individuals going through the issues associated with an office affair, i am going to give you the quickest way to end an office affair and MAYBE still get to keep your job.

Cut Down The Time Spent Together

You need to start creating some distance between yourself and this affair partner. What you will achieve with this is to gradually bring back the correct work ambience you both enjoyed before the fall (sorry, before the affair began). This is the point you need to start bringing food to the office so you don’t need to go to lunch together. When a task has been completed take your belongings and leave. When you end things quick, that is what is considered a real ending. These measures help you quickly bury the relationship. You know everywhere both of you used to bump into each other? the backroom, the cafeteria please avoid all those places when you know they would be there.

Do not expect that these evasion tact’s of yours would be welcome with an understanding nod. Harassment or blackmail might become something they resort to in a bid to get back at you for stopping something made in heaven and breaking their already broken heart. Your job at this point is to quietly gather all the messages, record conversations, take screenshots and then taking it to the company’s HR department. At this point, if your ex-affair partner is a drama king/queen who does not mind losing their job as long as they take you down with them, you have to make a quick decision to either get a new job or get transferred to another department/team. If their job is still important to them then you have to let them understand that your lawyer already has the fact file gathered and one other bleep from them would have you filing a harassment lawsuit.

 

Do Not Beat Around The Subject

Now you have done a good job at avoiding them but somehow they managed to corner you and want an explanation to what is happening. Directly tell them you are done. Do not say it in a way that makes them believe there is still hope of rekindling things with you. Inform them you want to work on your marriage and clearly state that you do not want them contacting you. This saves you loads of texts, chats, emails or phone calls on the subject. At this point, if your spouse has found out about this affair a well written break-up letter will help them stay in the loop on how things are going and shows your seriousness towards ending the affair.

Do not Allow Them Contact You Again (discard every memorabilia)

When you are having an affair Adrenaline and serotonin are two basic hormones pumping through your veins. One takes care of the pleasure and the other handles the edgy feel. This is somewhat similar to what keeps an addict constantly in a loop. This is the point you must inform your spouse that they tried to initiate contact. Having an accountability partner works at this point. If your spouse is not aware simply get a professional therapist bound by client confidentiality agreements to help you navigate this period. This is the point you limit contact via phone, personal email, social networks or otherwise, and also blocking future messages. If they got you anything burn it or give it away. This steps will help you break the urge to want to go back.

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Sort Out What’s Missing in Your Marriage

Now that you have been able to cut yourself off and maintain the discipline to sustain those decisions of yours, this is the time to work on your marriage with your spouse. My workbook on Affair recovery could help at this point because the thing your partner wants to know is not “How sorry you are”. They first want you to answer the question why. The time for apologies will come but its not the main thing. Communication must be worked on reflections around what you did wrong must happen. Then seek out a professional marriage therapist around you to assist the both of you at this point. If your partner on the other hand is not aware of the affair , then you have to make the big decision of informing your partner about what you did or not. If you finally decide not to tell your partner you have to be sure the reasons behind that decision is properly vetted because if it isn’t that could become the springboard for another affair.

Research has shown that when you confess to having had an affair a third of many relationships survive infidelity but when you have been caught it’s usually harder rebuilding trust and getting to the point of forgiveness.

To anyone out there struggling with similar issues my general advice is always this. If you feel an attraction to someone in your office, consider a transfer to a different department, a different position, or maybe you should quit. No job is more valuable than your marriage. Being honest with yourself is the first starting point. If you’re dressing real nice to catch the attention of a co-worker, you better stop before you lose it totally. Hanging around the office common areas hoping to bump into that person does not help either. Not only is it cheap especially if its just a fling for the other person its just downright wrong. If your spouse was there you would definitely not be doing all of that. That is your first boundary. Secondly if there are issues with you and your spouse and maybe you feel a bit justified doing what you’re doing, then use a spiritual boundary, If God was in front of you, would you be doing this? If this does not stop you either then my brother, my sister i drop my case. Whatever you have to hide or lie about, don’t do it at all.

This may not have been the most exciting of articles especially if you are caught up in a situation-ship as they call it at you workplace. However i just told you everything you need to help you navigate this affair and come out clean without losing your job or your home. If you’d like to let us know how this went for you, feel free to contact us via email.

Written by Obike Temple.
Temple Obike is a licensed marriage and family therapist, speaker, author and psychotherapist who has counseled over one thousand, two hundred clients comprising of couples, individuals, abuse victims (substance, physical, emotional and sexual) and grief-stricken clients. With over 70,000 in-counseling minutes (1,000+ hours) accrued in practice.
He runs his private psychotherapy & counseling practice out of Lagos, Nigeria and has counseling centers in Abuja and Port-Harcourt. His practice also provides options for both online and on-site services. His private practice has positively empowered lives through his online counseling, podcasts, free advisory services and free online materials.  
Readership of his articles also receive a growing number of visitors alongside subscriptions to his email newsletter at templeobike.com. His passion for empowering and uncovering the secrets to lifelong marriages and personal development led to his new book titled “Soul Bodega” available on amazon and across other online and traditional stores. Never give up on yourself! You are a journey happening through various destinations. Follow us on Facebook, Instagram, LinkedIn, and visit our website for more info!

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20 Things You Can Export From Nigeria and Make Dollars

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Finding the right type of business to start up is one of the most difficult things many people have to face. As a result, 9 out of 10 businesses fail in 10 years, and most of the last ones standing do not survive the next 10 years that follow.

The same applies to finding the right type of commodity to export.

The export business in its own right is a highly lucrative business to venture into, but determining the right type of commodity to export depending on the profit margins you’re targeting can sometimes be a problem.

While some exporters are okay with netting profit margins of between 10-30% per non-oil transactions, many others are uncomfortable with that, especially as an export cycle in a country like Nigeria is about 45 days, and so, would want to make the most of the time and possibly make up to or more than 100% profit on the commodity exported.

If you’re looking for high-margin commodities that can take your export business from 0 to 100 in 45 days, here are 2 hot-selling commodities that you can export to make up to or more than 100% profits on every sale:

1. Ginger

Ginger is one of the most traded spices in the world which Nigeria happens to be among the largest producers. Why we are not exporting ginger in large quantity is beyond me. You can start a Trans-Sahara or Trans-Atlantic trade with this goods and be making dollars on regular basis. Garlic is also on top of the list of items you can export from Nigeria.

2. Palm Kernel Oil

Palm Kernel oil is the oil extracted from the pulp of palm fruit which is different from palm oil. Palm Kernel Oil is used for the manufacturing of various cosmetics, pharmaceutical products and confectioneries. The uses of this oil is broad and the mineral contents are said to be rich in protein for various uses. Nigeria has it quantum and makes dollars exporting it to other countries of the world.

3. Textiles and Garments

This industry alone generates close to $32bn as revenue from export from Nigeria. It is also a fact that unlike other products that battles with high strict rules of tests, Nigeria’s textiles enjoy duty free passage into United States where it has the largest market in the world because of its unique designs, ethnic African designs and quality.

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4. Cocoa Butter

This is the real sources of chocolates of all types. The fruits of Cocoa is used for the production of various skin care products, health products, and pharmaceutical products. The demand for Cocoa is very high in both America and UK and that is why cocoa farming is very essential in Nigeria.

5. Gallstone

This is a clay-like solid substance gotten from the gallbladder of matured cow and oxen. The size could be as big as chicken egg. Gallstone is a hotcake for foreign pharmaceuticals because they use it for medical purposes. If you could lay your hand a good quantity of well dried gallstone about 100g that is well packaged, ready buyers are waiting for it in either Asia or America.

6. Rubber

Nigeria has put in place proper Central Testing Laboratories to ensure that only certified products leave the country to Europe and America. Nigeria happens to be a significant producer of Rubber in Africa. A cubit meter of fine quality rubber goes for between $400 and $600 presently because of the instability of dollar rate in the market.

7. Sesame Seed

This may sound a bit strange if you are not from the area where it is produced in the country. Sesame seed can be found in quantity in places like Benue and Jigawa states in Nigeria. This product ranks second to cocoa in terms of export volume and foreign exchange earnings. Nigeria is the 5th largest producer of this commodity and shipping it into foreign countries brings dollars exchange.

8. Honey

Pure honey is another export commodity from Nigeria to other countries. Presently, a kilogram of honey costs above $150 in the international markets. Pure natural honey contains trace enzymes as sugar, mineral, vitamins and amino acids. A litre of honey can fetch good dollars in the foreign market.

9. Shrimps

The Niger Delta region in Nigeria is blessed with rich organic deposits of Shrimps. The demands for Shrimps is high in countries like Portugal, France, Belgium, Spain, and USA.

10. Garlic

Garlic is a cash crop which is grown under irrigation by farmers in the Savanna areas in Nigeria. With internationally certified good quantities of garlic, you are sure of foreign hard currencies.

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11. Yam Tubers

Nigeria is presently the highest producers of yam. In 2009 alone, yam export accounted for about US$450 million exchange. But due to low quality, it is saddening to know that the country is not maximizing its export potentials of this products. So there is need for prospective exporters of yam to foreign countries to adhere to quality regulations that is guarding the process. Yam farmers must take this into consideration and tap from this opportunity.

12. Charcoal

This is at the fore front in the international market. This product which is produced in good quantity in Nigeria with now perfected technology, has about 50% ROI.Even an individual can own a charcoal production outfit and have exporters shipping it for him. A large market for charcoal exists in ASIA, EU, and USA. A tonne of this product goes for about $1000.

13. Cotton

This sector recently received a boost from the National Cotton Association of Nigeria (NACOTAN) of N33 million to rehabilitate it. Cotton is the most natural sources of fiber and it is in demand internationally.

14. Cassava Flour

We already know that Cassava is food for all in Nigeria because of various methods of preparing it. There is need for this in the foreign markets as well. The demand for well processed cassava flour is increasing both in Europe, Middle East and in America.

15. Cashew Nuts

Almost every part of the country has the potential to produce this international commodity. Great quantity of unprocessed raw cashew nuts are exported to India, Brazil and Vietnam where they are processed into kernels and moved to the Northern America and Europe where they are sold for about $2 per pound. The demand is on the increase from these consuming countries.

16. Snail

If you can produce snails in good quantity, there is a ready market for you. Snails are hotcake in European and America. The good thing about this is that it is very easy to rear as it produces rapidly with close to nothing in expenditure for feeding.

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17. Chili Pepper

Nigeria is blessed with good weather which supports the proper growths and production of the internationally accepted pepper. If you can grow and source for the export opportunity, you are sure to get it.

18. Fruit Juice

It may sound somewhat strange to many that Nigeria provide export opportunity for fruit juice concentrates. Yes, we have it because Nigeria can boast of so many naturally grown fruits all over the country which provides the best of fruit juice products of great quality. The opportunity for Nigerian fruits concentrate export is huge in USA.

19. Poultry

Forget about the facts that some greedy Nigerians go about smuggling chicken into the country. When we talk about poultry, it involves all domestic birds, egg or meat.

Nigeria poultry farm products are still highly needed both within Africa and Western countries because Nigerian weather conditions for poultry farming still remains the best. Poultry products export from Nigeria is an avenue that is still highly untapped.

20. Cosmetics and Soap

Nigeria has grown in this very important area but the only challenge that is holding us back is procurement of good technology to produce cosmetics in great quantity to compete favorably with other developed countries.

Soap making, which extends to other toiletries, laundries and so on are already export opportunity waiting to be invested in. Nigerian cosmetics products can be exported to other African countries where they are badly needed.

Nigeria has big market in soap industry already which other neighboring countries travels thousands of kilometers to get in big quantities to sell in their countries for good profits. If that area is properly looked into, the investment opportunity there are still virgin. If well harnessed, could mean a huge opportunity for foreign exchange. This exchange will further improve the underused avenues of cosmetics and soap industry in the country.

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If the exporters from Nigeria could strictly follow the rules guiding export, more avenues can be opened up for others who are aspiring to join in making export from Nigeria available to other countries around the world.

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BUSINESS

STRIKE: NAFDAC may lose WHO maturity level 3, ISO certifications

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Following the ongoing strike action embarked upon by the Medical and Health Workers Union of Nigeria (MHWUN), National Agency for Food and Drug Administration and Control (NAFDAC) branch, almost three weeks ago, the agency may lose all the certifications it got from the World Health Organisation (WHO) and other global bodies, The AUTHORITY has learnt.

It would be recalled that MHWUN NAFDAC branch began an indefinite strike on Wednesday, June 22, 2022, for many reasons including welfare. It would also be recalled that NAFDAC staff went on strike in 2014, 2015 and 2016 on the same issues.

NAFDAC achieved the ISO 9001 in June 2019, and also got the WHO High Maturity Level 3 in March, 2022.

With the Maturity Level 3 certification, it means that any product produced by NAFDAC will be recognized as meeting the WHO standard globally.

At a recent media briefing in Abuja, the Director General NAFDAC, Prof. Mojisola Adeyeye, disclosed that her agency had since commenced work to attain Maturity Level 4 status.

All these successes, our findings have shown, will go down to the drain due to the ongoing strike embarked upon by the workers of the agency.

Findings from a dependable top source at NAFDAC disclosed that before the WHO and other global bodies gave the ISO certification and the Maturity Level 3, three components were examined and considered before the approval.

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The top source who pleaded anonymity, disclosed that the three components that were considered include one; staff retention and sustainability, two;  staff welfare, three; there must be mentoring.

However, the source expressed concern that following the strike, all the three components can now be considered at zero.

The source explained that because of the prolonged strike: “The staff welfare is zero, staff retention and sustainability is zero and mentoring is zero.

“This strike has really shown that there is no welfare, no retention and sustainability.

“Today if the workers decide to write to the world regulatory bodies, they can withdraw all these approvals and certifications and NAFDAC  will have to start from the scratch.”

Following this development, a reliable source at the Federal Ministry of Health disclosed that the management of the ministry is not satisfied with the actions taken by Director General of the NAFDAC, Prof. Mojisola Adeyeye,  to resolve the issues so that the workers can go back to work.

The source who pleaded not to be named because she is not authorized to talk on the matter said that the ministry is worried that instead of making efforts to resolve the strike, the NAFDAC Director General decided to travel abroad.

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“NAFDAC is a very sensitive agency. Many things in the country including safety of foods and drugs will get bad within this period due to the strike.

“We are concerned that instead of her working day and night to resolve the issues, she decided to stay away. The last time we were looking for her, we were told that she is outside the country. Who is she expecting to go and resolve the issues for her?

“In fact, we are not happy with her. She is lucky that the current minister is a patient person if not that could have cause her that position. But who knows what may happen in the days ahead if she did not sit up,” the source said.

However, speaking with our correspondent on telephone, the Chairman of the MHWUN, NAFDAC branch, Anzuka Peters, said that the union tried to ensure that the strike is averted but that the management was not willing to resolve the issues.

Responding to a question on some of the issues under contention, Peters said: “One of the reasons why we are on strike is that we have promotion areas of five years including 2018, 2019, 2020, 2021 and now 2022.

“Secondly is the issue of salaries. NAFDAC workers currently have no salary scale. They migrated us from Consolidated Health Salary Structure (CONHESS) to Research and Allied Salary Structure (CONRASS) which is alien to NAFDAC. NAFDAC  is not a research institute. “That makes many workers to loose over N100,000 to N200,000. Others N50,000 depending on one’s rank. The least some people lose is 30,000 naira. That problem has not been solved.

“The federal government said they are ready to implement our Consolidated NAFDAC salary structure but that there was no money.

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“They therefore, advised us to go and look inward in our revenue whether we can get some allowances that will be in commensurate terms with the salary we are asking for.

“We sat and created regulatory allowance, hazard allowance which we increased from 10 per cent to 30 per cent and other allowances which we arrived at a conclusion and we all agreed. But the management seems not ready to implement any agreement.”

Responding on the possibility of losing the WHO certifications and the Maturity Level 3 due to the strike action, the NAFDAC Media Consultant, Sayo Akintola, said that the WHO Team that conducted the assessment using its  Global Benchmarking Tools that qualified NAFDAC for Maturity Level 3 commended the agency on the significant progress in the implementation of recommendations across the regulatory functions.

According to him: “Staff welfare was a key  WHO-GBT used in assessing NAFDAC. The ML3 rating for Nigeria is for medicines regulation and  vaccines.

“It’s impossible for the certification to be withdrawn over workers’ strike. Worker agitation for improved welfare is a global phenomenon.  It’s a legitimate demand and management of NAFDAC is on top of the situation as negotiations with the union leaders are ongoing and they are making progress.

“Staff welfare has been paramount on the heart of the DG and she’s doing everything humanly possible to enhance the welfare of her staff whom she always commends for the milestones she has been able to achieve in the agency.”

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