26 Jan, 2022
Nigeria is experiencing scarcity of foreign exchange due to COVID-19 that has impacted the global economy and as such the government cannot supply foreign exchange to bureau de change which in turn supply foreign exchange to businesses. Nigerians majorly make use of their debit cards to perform foreign transactions that are billed in U.S. dollars, the spending limits on most of these cards have been reduced to a paltry $100 monthly. This has made it impossible for many businesses to stay afloat in this time.
Ali runs a popular fabric store in Lagos, Nigeria, importing wares from China and Vietnam. The business has been thriving until the government came up with policies to tighten the availability of foreign exchange to businesses. Ali tried numerous methods to beat this constraint including patronizing black markets to get foreign exchange but the high cost associated with it knocked off his profit margin. Ali had no other option than to wind down operations until he read about advcash on the internet someday. A google search led him to cashex
and he discovered how easy it was to exchange advcash to naira.
Anyone with a basic computer knowledge can do what Ali does, he simply buys advcash from us and transfer the funds to his supplier in China and the other in Vietnam, the whole process is completed within minutes from the time he transfers naira into our Nigerian bank account to the time we fund his advcash account and the time he finally sends the funds to his supplier. We have helped many businesses like that of Ali stay in business and make their transactions faster and cheaper as opposed to conducting such transactions using a regular bank where he has to source for foreign exchange ,take it to the bank , fill out a lot of paperwork ,then wait for days for his supplier to receive the funds .
On the other hand, when Ali needs to collect refund from his suppliers ,his suppliers do not need to go through the stress of filling out paperwork and paying high wire charges to send his refund to him, they simply fund their advcash accounts and send him funds with a click of a button. Ali simply sells us the advcash funds
and we pay naira to his bank account here in Nigeria as opposed to waiting for days in the case of a regular bank, all the processes can be completed within minutes.