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International Banking Products |
| Sale & Exchange Of Traveller’s Cheques & Foreign Monies | We
offer these services to customers and non-customers
alike. Subject to
compliance with all exchange control regulations of the
Central Bank of Nigeria on foreign exchange transactions. |
| Letter Of Credit | This document
entitles the beneficiary to obtain payment of funds from the
bank on compliance with the terms and conditions laid down in
the Credit. Hence,
we use it to finance the movement of goods in foreign trade,
and when giving our undertaking, the bank assumes liability
for the payment of drawings under the credit.
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| Foreign Currency Domiciliary Accounts | This
account may be opened by:
Citizens of Nigeria
Aliens resident in
Nigeria
Corporate
Bodies
Foreign Diplomats, Diplomatic and Consular Mission
and International Organisations
Such
other persons as the Government may from time to time
Designate. The foreign currencies in which an account may
be opened are United States Dollars, British Pound Sterling,
Deutsche Mark, French Franc, Swiss Franc and such other
currencies as the CBN may from time to time direct. Deposit can be made
into the account in foreign currency notes (i.e. cash) and
foreign banks’ legal tenders such as drafts, travellers
cheques, mail transfers, telegraphic transfer and other credit
instruments that may be approved for this purpose by Central
Bank of Nigeria.
Withdrawal can also be made from the account.
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| Bills
Discounting
| With this service, bills of Exchange, Promissory
Notes payable within Nigeria are purchased at a discount by
the bank before maturity. The customer receives
immediate credit in account (or cash) instead of waiting for
bills to mature.
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| Opening Of Off-Shore Accounts With Our London
Branch
| The opening of such account will provide the
customers with the following benefits:
Easy repatriation of export proceeds
Off-shore lending to finance import
Mandate to transfer funds within Nigeria
Placement of funds-deposit
facilities.
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