Nigeria’s foremost non-interest bank, Jaiz bank has resumed selling of foreign exchange to Small and Middle Enterprises (SMEs), in its efforts to cushion their challenges amplified by the rampaging COVID-19 pandemic and ultimately boost the economy.
The bank made the disclosure in a statement, adding that the foreign exchange was also available to parents to pay their children’s school fees and medical bills.
Other areas include Personal Travel Allowances (PTA) and Business Travel Allowances (BTA) amongst others.
According to the bank, SMEs importers can get up to $20,000 per quarter. It however noted that items of importation must not fall under those prohibited, as directed by the Central Bank of Nigeria (CBN).
The bank stated: “While the pandemic is being fought with lockdown and economies are opening up, we are committed to providing services that would encourage small and medium sized businesses because we strongly believe they are the fulcrum for economic growth and development.”.