17th January 2023- Lagos, Nigeria – Union Systems Limited announces that Wema Bank Limited, a…

17th January 2023- Lagos, Nigeria – Union Systems Limited announces that Wema Bank Limited, a…
For the CBN to regulate access to scarce foreign exchange, it has put in place several active [SA1] windows which include: the Retail SMIS Funds, SME Form Q Funds, the Investors & Exporters Funds (I&E) and the Invisibles Funds (PTA/BTA, Medicals and Education). Despite these initiatives, the FX demand continues to outweigh the supply. Thus, leaving individuals and corporates to source FX at a higher rate from the parallel market.
A challenge that this automated process will pose to most Nigerian banks will be the integration of their trade finance and other related back-end applications to the TRMS portal and harnessing the full potential of the trade automation process to their benefit and to those of their customers.
This article was originally published on BusinessDay FRANK ELEANYA Victor Eze, 40, is the head…
Leading financial institution in Nigeria, Coronation Merchant Bank, has partnered with Union Systems Limited to…