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Global Trade Services

Choose from our various options, including: Mortgage Loans, Foreign Funds Transfer

Correspondent Banking Services

Correspondent banking services


Foreign Funds Transfer

Funds are transferred efficiently and promptly through our correspondent banking relationship with the first class international banks. We maintain foreign accounts in all the major currencies and correspond through Citibank (London and New York), JP Morgan, Australia New Zealand Bank (ANZ) (London), BNP Paribas Paris, Deutsche Bank, HSBC Bank PLC amongst others.


Form M Processing

Form M Processing


Form M Processing

Plant & Machinery Financing


Shipping Documents Handling

Mortgage Loans.


Trade Services

Trade Service is a unique electronic solution that allows our trade customers to initiate and track transactions electronically. In addition, our clients can customise, schedule and generate reports and retrieve information electronically.


Invisible Transactions

Customers can purchase foreign exchange from the CBN or Interbank/Autonomous sources and transfer funds to offshore beneficiaries FOR ELIGIBLE INVISIBLE TRANSACTIONS ONLY.

Examples of eligible Invisible transactions are school fees, mortgage payments, medical fees, Consultancy fees, Airline remittances, etc. Each transaction must have an ORIGINAL Form A duly filled and signed in line with the customers’ mandate with the bank.

Features

  • Direct access to Foreign Exchange for remittances for Services and Intangible items such as School/Course Fee’s, Mortgage, Expatriate home remittances e.t.c
  • Access to Personal or Business Travel allowances of up to USD4,000 and USD5,000 or its equivalent per quarter.
  • Payment is made directly to the Beneficiaries account except for PTA and BTA which involves cash payments.
  • Transactions are processed within the purview of CBN Foreign Exchange  Manual 

Benefits

  • Direct access to purchase FX from the Bank or Official market
  • Direct remittance to Beneficiary
  • Cheaper Funds
  • Superlative Turn Around Time

Requirements

PERSONAL/BUSINESS TRAVEL ALLOWANCE REQUIREMENTS:

  • Applicant shall be eighteen (18) years and above
  • Applicants/beneficiaries shall be holders of Nigerian passports
  • PTA/BTA shall only apply to journeys of more than five (5) hours flight time originating from Nigeria
  • Sale of PTA/BTA shall be for travel to be undertaken not more than 14 days from the day of purchase of PTA/BTA
  • Applicants shall present verifiable Bank Verification Number (BVN) to the bank
  • An applicant shall be entitled to US$4,000 and US$5,000 for PTA and BTA respectively, subject to the provision of complete documentation

SCHOOL FEES REQUIREMENTS:

  • Remittance shall be made directly to the school’s account
  • Applications shall not be more than US$15,000 or its equivalent per term/semester
  • Applicants shall be recognized parents/guardians
  • Applicants shall present verifiable Bank Verification Number (BVN) to the Bank
  • Applicants shall present the required documents to the Bank for processing of School Fees (admission letters, payment invoice, duly completed Form A, First Degree certificates for customers paying for post graduate programs)

Remittances

Commercial Papers


Click HERE to download the Letters of Credit Application form.The product is designed to provide low risk investment option at market driven yields for bank's customers with excess funds.

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