FX Deal: Inflow to Inflow

Note: Sterling Bank To Sterling Bank (It Can Go To Other Banks)

Fx Details:

Rate: 640/5

Minimum: $500k

Maximum: $100m

Procedure:

1. Seller issues a signed payment instruction/MOU to buyer, buyer signs and returns a copy to seller.

2. Buyer and Seller deposit copy of MOA with their respective Banks at a nominated Branch.

3. Buyer issues BANK ENDORSED CHEQUE or PND in favor of seller’s nominated account and sends copy of CHEQUE or PND via email.

5. Upon confirmation  seller’s bank transfers USD to buyer’s domiciliary account and give buyer telex copy via the bank platform for confirmation.

6. Buyer’s AO/branch Manager confirms funds via Telex copy.

7. Upon confirmation of payment via Telex buyer’s Bank Pays NAIRA into seller’s nominated account and into the accounts of all AGENT in the PI and send confirmation slip.

End of the first tranche.

Note: Interesed buyers/mandate can contact us for mou and verifcation.