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.
SEAMLESS INTEGRATION TO THE CBN TRADE MONITORING SYSTEM (TRMS)
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.
Union Systems set to introduce new treasury management solution
Drawing from the success they had with the release of Kachasi Trade Finance Software and…
How Union Systems is Improving Financial Services With Indigenous Technology
Banking is one of the pillars of Nigeria’s economy. According to the Nigerian Development Plan…
The Workload Factory: A Tour To Remember
Everyone in this department knows I’m the resident hottie. I have the kind of beauty…
How Union Systems is redefining the future of Africa’s trade finance technology
This article was originally published on Tech Cabal The African Development Bank (AFDB) estimates that…
The Workload Factory: Archives Of Doom
When people say your family members could be the spiritual forces behind your predicament, it’s…
How Optimus multibank portal eases trade finance transactions processing
This article was originally published on BusinessDay FRANK ELEANYA Victor Eze, 40, is the head…
Fixing the Bugs in the Nigerian Software Industry – Chuks Onyebuchi
Anyone involved in the development lifecycle of a software application has an interesting relationship with…
