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How To Start Recharge Card Printing Business in Nigeria

How To Generate Nigeria Recharge Card Pin Online For Free

Have you been trying to start your own profitable Recharge Card Business In Nigeria without reasonable success? I will show you how to start a recharge card printing business in Nigeria

A lot of people are looking for ways to make money either online or offline, and recharge card printing is one of those ways. Personally, I will consider the recharge card printing business as both an online and offline job.

Is Recharge Card Printing Business in Nigeria Profitable?

You may be wondering if the recharge card printing business is profitable

Yes, it is profitable!

People often recharge their phones every day because they need to make calls, buy data and send messages to their loved ones, friends, partners, etc.. so they will definitely buy a lot of recharge cards to do these.

This means that the business can be profitable as long as you have customers and getting customers requires a lot of hard work though.

In fact, this business has turned many Nigerians who venture into it to become stable financially.

How Does Recharge Card Printing Business in Nigeria Works?

In the recharge card printing business in Nigeria, your job is to get the PINs, print them out on standard sheets of paper (at least that’s what we use these days right), give them out to distributors, or better still; if you’ve got time, engage in the distribution yourself. Have written a well-detailed article on how to generate recharge card pins for free for any network.

All you need to do is just sit in front of your PC and begin printing out recharge card pins. So you see it’s pretty simple, there isn’t much stress in the recharge card business at all.

To start a recharge card business, you either start as a dealer, a sub-dealer, or a retailer.

  • Recharge Card Dealers

Recharge card dealers make the highest profit when it comes to the recharge card business because they deal directly with telecommunication companies. They get recharge card pins from telecommunication companies, print in bulk, and sell to the sub-dealers.

  • Sub-Dealers

This category of sellers, sells directly to retailers but buy directly from dealers. They are the middlemen between the dealers and retailers.

Depending on the level of patronage, a recharge card sub-dealer should be pocketing a profit of about N5,000 to N10,000 daily.

  • Retailers

These set of people are the ones we probably call recharge card sellers as they are found in streets, shops, markets e.t.c.

The capital requirement for retailers is between N6,000 to N10,000.

The profit margin for retailers is kind of low as it depends on your turnover on a daily basis. Nevertheless, profit is still guaranteed and you can do other business alongside selling recharge cards.

In this post, we provide a detailed guide on how can you start a recharge card printing business in Nigeria and other things you need to know concerning the recharge card business.

What you need to Start Recharge Card Printing Business

The requirements for starting a recharge card printing business in Nigeria are:

  1. A desktop or laptop computer
  2. Internet access.
  3. Recharge card printing software. For de-encrypting the pin codes which are sent to you
  4. Email address: Recharge PINs will be sent to you via email so you’ll be needing it
  5. Paper: A3 or A4 paper for printing out the recharge cards.
  6. Printer
  7. Recharge PINs.
  8. Capital: You need a little amount of money before you can start the recharge card printing business. This money is used to pay for the pins that will be sent to you through your mail and also for internet access

Step-by-Step Guide: How to Start Recharge Card Printing Business in Nigeria

1. Get the requirements

I have listed all the requirements needed to start a recharge card printing business above. Once you have all the requirements you can proceed to the next step.

2. Defined your model

You need to decide if you’d like to be a major dealer or a retailer

Being a major dealer will require you to get a store, and much more equipment, otherwise you could just be basic and make use of your living space.

Also, you’ll need to decide on which network(s) you’ll like to print. Do you want to be printing all the four major networks, what amount will you be printing out?

3. Contact the Network Provider

After this, you can go ahead and visit any of their offices to get official information from them.

Or you could follow these procedures:

Starting Recharge Card Printing Business with MTN Nigeria:

Send an email stating your intent to this email address: [email protected]

Starting Recharge Card Printing Business with 9Mobile Nigeria:

Send an email stating you’ll like to start printing their recharge vouchers: [email protected]

Starting Recharge Card Printing Business with GLO Nigeria:

You’ll have to visit their store in other to get started. You can see a list of stores near you here: http://www.gloworld.com/ng/support/gloworld-shops

Starting Recharge Card Printing Business with Airtel Nigeria:

Just like Globacom, you’ll still need to pay them a visit to get more info, you can check out their stores here: https://selfcare.ng.airtel.com/Stores

After contacting them, the next thing is to;

4. Get the Recharge Card Printing Software

Recharge printing software is of many types and got many requirements. You can get the software from the telecoms, or any dealer you’re dealing with.

The recharge card printing software has the ability to decrypt encrypted PINs that’ll be sent to you (PINs will be sent to you via email).

These PINs are encrypted so as to prevent interception from malicious persons who may try to steal the PINs, if you’ve sent the PINs and you don’t have the corresponding software to decrypt them, it’s basically useless. So that’s the importance of this software is to prevent losses and reduce risks.

5. Getting To Recharge PINs

Upon registering with a dealer, you’d be given official communication channels, software, and other helpful guides.

Using the appropriate communication channels, you could request for PINs and they’ll be forwarded to you via your provided email (what you used during registration), with the aid of the software, you can decrypt the PINs, so as to enable the move to the next step.

How much is Recharge Card ePins in Nigeria

According to my experience with this business, you can get the N100 recharge PINs for as low as N95 – N97 for each 100 recharge card in Nigeria.

The N200 recharge card ePins can be gotten at the rate of N193.

But here is the truth you need to know;

The bulky (or more) ePins you buy and print, the more profit you’ll earn

The recharge card printing business in Nigeria is profitable, but become of the low earning on N100 cards, some people have given up. Meanwhile, if you’re printing the N100 cards together with other units like N200 and upward, you’ll earn some profit at the end of the day.

6. Printing

Remember I told you we’ll be needing a printer in this recharge card printing business

After decrypting the encrypted PINs using the software on your PC, you’re almost ready to start making your first profit from the recharge card printing business in Nigeria.

Also, you’ll need the standard A4 paper for your printing, your printer quality should be very good so as to increase legibility because subscribers don’t like stressing their eyes.

Print as many copies as you be able to sell, once this is done, you can start distributing or selling what you have printed.

NOTE: You can only print out the number of PINs you bought. It’s not something that you buy once and it will start multiplying itself.

7. Marketing your recharge cards to customers

Let me be honest with you, this is one of the most important factors or points to consider before starting a recharge card printing business in Nigeria.

This is where the market survey comes in, you’ll need to know recharge card retailers and wholesalers in your area, establish a business relationship with them. You can even start by selling at a discounted rate.

All these should be done to attract your initial customers, which will in the long run introduce you to other wholesalers/retailers.

You could decide to go to the lone-wolf-way and do this on your own, or you could employ someone who will be in charge of distributing the vouchers to your customers.

Whichever path suits you based on your budget, you’re at liberty to choose.

How to print recharge card on your phone

NetDivo has provided a solution for those who wish to print recharge cards by using their phone, all you have to do is to visit printairtimeonline.com. After you sign in, you can upload epins and print them out as airtime vouchers or export them as pdf, for new users you need an activation code, for more details, click here.

Recap

How to start a recharge card printing business in Nigeria

  1. Get your computer or laptop connected to the Internet or simply use a cyber café.
  2. Register with a legit company
  3. Get their software and install it on your computer or laptop.
  4. Order for recharge PINs through their website and pay the required amount into their bank account.
  5. Send them your payment details, e.g., name, email address, desired network, teller number, and the amount paid.
  6. They will send you encrypted PINs (these PINs can only be read or interpreted by
    the company’s software).
  7. Use the software on your computer to print out these PINs.
  8. Market your business

Also Read: Chinese Gift Card Vendors WhatsApp Number

Summary

I have taken you through the steps required for starting a recharge card printing business in Nigeria, as you can see, it isn’t a difficult business after all, and you can still make a good amount of money.

If your customer base increases, it’ll be advisable you expand, employ more hands, and maybe get a shop if you don’t have one. You can also check my article on how to generate recharge card pins online for free, in which you don’t need to spend a dime.

Thanks for reading and let me know your thought about the recharge card printing business in Nigeria via the comment box below.

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I am the fountainhead of Deluxepreneur. I am a tourist guy, movie and music lover. I am a simple and friendly guy. Feel free to contact me if you have any inquiries.

2 Comments

2 Comments

  1. Avatar

    Cyrus

    October 24, 2021 at 6:31 pm

    Thanks alot, very educative.

  2. Avatar

    Charles

    October 24, 2021 at 6:30 pm

    Thanks very much for the detailed info.

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Business

8 Best Banks To Open a Business Domiciliary Account with in Nigeria

8 Best Banks To Open a Domiciliary Account with in Nigeria

We do hear people mentioning that they want to open a domiciliary or “Dom” account and we do wonder what they mean, before I begin to unveil the best banks to open a domiciliary account with in Nigeria, let’s start by knowing some important info about what a domiciliary bank account is all about.

Definition of a Domiciliary account

A Domiciliary Account is a type of account that’s operated in foreign currency. A Domiciliary account is a foreign currency account that allows you to carry out foreign or international transactions such as sending and receiving of money in different currencies like Pounds, Euro, Dollar, etc.

Types of Domiciliary account

The name of the domiciliary account depends on the type of foreign currency you are using to operate or open it. If you are opening with dollar, then it is a dollar domiciliary account, so as the others.

You can open a domiciliary account in any foreign currency you want but the major ones are

  • The dollar domiciliary account.
  • Pounds domiciliary account, and
  • Euro domiciliary account.

Definitely you can’t open a Naira domiciliary account since you reside in the country (Nigeria).

Function of a domiciliary account

A domiciliary account enables one to perform international transactions without any problem. You can send or receive funds in international currencies from anywhere in the world using the domiciliary accounts operated in various banks across Nigeria. However, you can fund it with foreign currencies such as dollars, pounds or euros and also do your foreign transactions on that account.

A domiciliary (which is usually shortened to “Dom”) account can be operated from anywhere in the world with the use of MasterCard (The MasterCard will be given to you if requested) or internet banking. Opening a domiciliary account gives you access to debit cards, internet banking, and mobile banking.

General categories of Domiciliary account

Domiciliary account has two major categories:

  • The current domiciliary accounts and
  • Savings domiciliary account.

The Current domiciliary account is operated like the regular current account where you can make cash deposits and withdrawals in foreign currencies on the Counter. You can also issue cooperate Cheque to third parties in foreign currencies. This category of domiciliary account is best opened and maintained by international businesspersons

Savings domiciliary account operates just like the local savings account. You can only make deposits and withdrawals in international currencies but cannot issue out Cheque.

How to open a Domiciliary account today in Nigeria

To open a domiciliary account or foreign currency account, you have to open one it in any of the local banks in Nigeria – GT Bank Plc, Zenith Bank, UBA, Access Bank, Ecobank, First Bank, Wema Bank, Sterling Bank, FCMB, Fidelity bank, Union bank, Stanbic IBTC, etc.

You can send and receive international currencies on the same currency in which the domiciliary account was opened. For example, if you open a dollar domiciliary account; you can only send and receive dollars in the dollar domiciliary account, Pounds in pounds domiciliary account, and euro in euro domiciliary account, the same goes for others.

Foreign transactions via wire transfer takes a minimum of three to five working or business days before the transaction(s) is/are successful. Funds withdrawals can also be done using the domiciliary account card issued to you at various ATMs the dispense foreign currencies in Nigeria or better still you can also withdrawal the fund in your bank branch.

Advantages of opening a domiciliary account

  1. You are opportune to save your money in foreign currency with a domiciliary account without the money depreciating irrespective of how unstable the currency is going to be. For instance, you can fund your dollar domiciliary account for the sole purpose of saving your dollars for future use.
  2. You can carry out international transactions with your given MasterCard on a domiciliary account.
  3. You can also receive money in foreign currency on a domiciliary account.

Disadvantages of opening a domiciliary account

  1. You are only permitted to operate one type of foreign currency per domiciliary account.
  2. You need two referees before you open a domiciliary account, which sometimes is difficult to get.
  3. Analyzing the charges the bank takes from the domiciliary account in transactions are quite high also depends on the bank. However, due to CBN intervention with the new monitory policies, the cost of opening a domiciliary account for personal use has been reduced to be between $50 to $100 depending on the bank you decide to open with. On the other hand, the cost of opening a cooperate domiciliary account is now between $100 to $500 depending on the bank. While the cost of maintaining and renewing a domiciliary account as reviewed by the CBN in the new monitory policies is $10.

Best Banks To Open A Domiciliary Account With In Nigeria

Almost every bank in Nigeria opens domiciliary accounts for their customers. But there are top ones that make the operation of the account more worthwhile for their customers. In no particular order, here are the top best banks in Nigeria where you can open a domiciliary account with. There are other good banks thou but this list here is actually the top.

Zenith bank

Zenith bank is one of the leading commercial banks in Nigeria with good customer service and products. The main difference between an Ordinary domiciliary and Cash domiciliary account is that you are able to transfer funds using an ordinary domiciliary bank account. transfer transactions are not permitted for the Cash domiciliary account, and, similarly, with a Cash domiciliary account, you can access EazyMoney as one of the channels available.

Features and Benefits of opening Zenith bank domiciliary account

  1. It has zero opening balance
  2. Zenith bank offers internet banking
  3. It also issues a debit cards for USD only
  4. Your access to mobile banking
  5. You can receive email/SMS alerts when you perform any transaction
  6. Standing orders
  7. The available currencies on Zenith Bank’s domiciliary accounts are USD, EUR, and GBP.

Requirements for opening Zenith bank domiciliary account

  1. First, you need an account opening form
  2. One passport photograph of authorized signatories
  3. Valid ID (Driver’s License, International Passport, National Identity Card or Voter’s Identity Card)
  4. Public Utility Receipt dated within the last 3 months example are PHCNbill, water rate bill, tenement rate, rent receipt, telephone bill, etc.
  5. Visitation Report (Residence)

Guaranty Trust (GT) Bank

Guaranty Trust Bank fondly called GT Bank or GTB, is one of the top commercial banks in Nigeria that will give you value for your money when it comes to domiciliary account opening. GT Bank domiciliary account is available only in US Dollars, British Pounds and Euros and they can be funded through cash inflows and cash deposits.

Benefits and features of GT Bank domiciliary account

  1. You have 24/7 banking services via various e-channels.
  2. You can transfer money easily in many top foreign currencies to other bank’s domiciliary accounts in Nigeria and outside Nigeria
  3. You can also withdraw cash in foreign currency at every GT Bank branch.

Requirements for opening GT Bank domiciliary account

  1. A Filled and signed Domiciliary Account opening form.
  2. You need a copy of identification card (Driver’s License, International passport, National I.D Card, or any other acceptable by the bank).
  3. A single passport clean photograph.
  4. Two completed reference is needed to sign on your forms.
  5. A utility bill issued within the last 3 months

 First Bank

First Bank is one of the most reputable commercial banks of Nigeria that provides excellent services and customer support. Domiciliary accounts with First Bank enable you to ease your international transactions. These accounts are available through money deposits in cash, currency check payments or traveller’s checks.

Types of First bank domiciliary account

First bank has two kinds of domiciliary accounts;

  • FirstDom Plus and
  • Primary Domiciliary account.

FirstDom Plus

FirstDom Plus is an account to deposit foreign currency which is exclusively targeted at those who are domiciliary customer with balances of at least $5,000. It is a domiciliary bank account that is designed to maximize the advantages. The interest rate is appealing and it has lower fees for banks. Only corporate and individual customers are eligible to make an application for this bank account.

Benefits and features of First bank domiciliary account

Benefits and features FirstDom Plus account

  1. The account is operated with a specialized non-clearing chequebook
  2. Foreign draft issuance is allowed on the account
  3. No charges on over-the-counter cash withdrawals
  4. Transfer charges on account as low which is 0.25% flat

Primary Domiciliary account

Domiciliary primary account is a account that lets you keep your money in dollars and Euro, or Pounds Sterling, or Euro with your money being worth based on the current exchange rate. This account assists in International business dealings. Only corporate and SMEs can use this account.

Benefits and features of Primary Domiciliary Account

  1. A minimum opening balance of $500, €500 or £300
  2. Minimum operating balance of $100, €100, or £50
  3. There is no limit to the number of withdrawals in a month
  4. Your cash withdrawal is at 0.5% flat per transaction
  5. An Inter sol transactions (account owner only) are allowed.
  6. A Guaranteed Foreign currency deposit
  7. A pool for interest on bank fund
  8. There are no restrictions on the number of withdrawals
  9. Inter sol withdrawal (account holders only) allowed

Requirements for opening First bank domiciliary account

Requirements for opening FirstDom Plus account

  1. Individual Account Opening Form
  2. Completed Specimen Signature card
  3. Two recent passport photographs
  4. Valid means of identification e.g. International Passport, Driver’s License or National I.D. Card (Original to be sighted)
  5. Utility Bill, e.g. NEPA, NITEL Bill, etc

Requirements for opening Primary Domiciliary account

  1. A completed account Opening Form
  2. A completed specimen signature card
  3. Your two (2) recent passport photographs
  4. An address verification document: Utility Bill
  5. A valid means of identification e.g. International passport, Driver’s license or National ID card.

UBA

United Bank for Africa (UBA) is a pan-African bank that allows their customers enjoy many international banking benefits and it’s another bank in Nigeria that you can open a domiciliary account with. This bank gives you a wide range of options to choose from when opening a domiciliary account with them. It also operates in major foreign currencies such as US Dollar, Pound Sterling, Euro, etc.

Types of UBA domiciliary account

UBA has the following domiciliary accounts;

  • Dom Advantage account and
  • Freedom Domiciliary Account or Freedom Dom account

Dom Advantage Account

Dom Advantage is a current or savings domiciliary account denominated in foreign currency – US Dollar, Pound Sterling, EURO etc

Benefits and features of Dom Advantage account

  1. It has an Interest rate that is payable on the account balance
  2. It has a zero-transfer charge
  3. It has zero withdrawal charge
  4. Also has an unlimited number of withdrawals
  5. For withdrawal Charge: there are zero charges once your account balance is up to minimum operating balance
  6. Also, for transfer charge: there are zero charges once the account balance is up to minimum operating balance

Requirements for opening a Dom Advantage Account

  1. A minimum Opening balance: $100, or €70 or ₤80
  2. Minimum operating balance of $1,000.00 or its equivalent
  3. Valid Identification (International Passport, Driver’s License, National ID card, Voter’s card)
  4. Two Passport photographs

Freedom Domiciliary account

Freedom Domiciliary Account or Freedom Dom account is a USD foreign currency account with lower operating limits, for those who want to start saving in dollars. Maximum operating balance of $5,000 or its equivalent. Foreign currency cash deposits can be used to fund the account and Foreign currency inflows & cheques deposit are not allowed in the account

Benefits and features of Freedom Domiciliary Account

  1. Zero Opening Account Balance
  2. A serialized non-clearing cheque-type withdrawal booklet used for withdrawal by account holder only
  3. Interest bearing account

Requirements for opening Freedom Domiciliary account

  1. Minimum Operating Balance of $10 or its equivalent
  2. Completed account opening form
  3. 2 passport photographs
  4. International passport or Driver’s License or National ID card or Voters Card, or Student ID card or Association ID card or Town Union ID card or Residential Estate ID card or Resident Permit (for immigrants)

U-Care Plus Domiciliary Account.

The U-Care Plus Domiciliary Account is a variant of U-care plus savings account, it is an FCY account denominated in USD, GBP, & EURO meant for parents who want to save for children’s secondary/tertiary education abroad.

Requirements for opening U-Care Plus Domiciliary Account

  1. A minimum Opening: $100, or €70 or ₤80
  2. Minimum operating balance of £350 or its equivalent.
  3. Valid Identification of Parent/Guardian
  4. Two Passport photographs of Child and Parent
  5. Child’s birth certificate
  6. Address verification of the parent/guardian

Benefits and features of U-Care Plus Domiciliary Account

  1. It has an Interest rate of 0.1% that is payable on the account balance
  2. It has an unlimited number of withdrawals
  3. Withdrawals: 0.5% + VAT on amount withdrawn
  4. Telex Transfer: 0.5% +VAT or US$10 or its equivalent whichever one is higher + Communication charge of US$25 or Euro 20 or £ 15
  5. Draft request: 0.5% +VAT or US$10 or its equivalent whichever one is higher + communication charge of US$25 or Euro 20 or £ 15

ACCESS BANK

Access bank also offers the best domiciliary accounts in Nigeria. Being one of the most popular banks and also having a great number of customers, Access Banks allows their customers to transfer and receive money in currencies other than the Naira.

The available currencies on Access Bank domiciliary account are dollar (USD), Pound (GBP), Yen and Euros. The account is open by individuals, business owners Small and Medium-sized corporations, and corporate entities.

Types of Access bank domiciliary account

Access bank has two types domiciliary account

  • Domiciliary Current account
  • Domiciliary Savings account

Domiciliary Current account

Benefits and features of Domiciliary Current account

  1. Access to overdraft and loan facilities for qualified customers at very competitive rates.
  2. Access for your account at the bank.
  3. Monitoring of your account’s activities at the convenience at your desk or home using the Internet, phone as well as mobile banking.
  4. Third party withdrawals
  5. No minimum balance required
  6. No Account maintenance fee
  7. Convenient & flexible account opening requirements.
  8. Sends account information updates via SMS or email alerts.
  9. Access to cash anytime, anywhere with debit cards on ATMs
  10. Use of Mastercard, Visa and Verve debit cards on POS terminals
  11. No restriction on number of withdrawals
  12. Different variants of Debit Card based on the customer’s preference
  13. Access to alternate channels e.g. Internet and Mobile banking
  14. Cheque book. Direct debit instructions
  15. Third third party transactions
  16. Third party transactions allowed
  17. All other transactions are charged at banks approved rate
  18. Cash handling charge (COT equivalent) of 0.5percent on withdrawals
  19. Interest rate 0.01% per. a. (above 100,000 $,£,€)

Requirements for opening Domiciliary Current account

  1. Opening balance of $100, £100 & €100
  2. Means of address verification
  3. 2 references
  4. 2 Passport photographs
  5. Valid ID of each signatory
  6. Residence Permit (Foreigners)
  7. Forms CO7 and CO2 as applicable for companies
  8. Certificate of Incorporation / Business Registration for companies
  9. Memorandum and Article of Association as applicable for companies
  10. Board resolution as applicable
  11. Search report as applicable

Domiciliary Savings account

Benefits and features of Access bank domiciliary savings account

  1. Convenient & flexible account opening requirements
  2. Remote access to your bank account with our channel platforms.
  3. You can monitor your account activity from the comfort of your home or office via phone, internet and mobile banking
  4. Provides account information updates via SMS/Email alerts
  5. No monthly maintenance charge on the account
  6. $10 issuance of debit card
  7. Free debit card for Dom Plus
  8. Rate of interest 0.1 percent and 0.2 percent for Dom Plus Interest rate of 0.1% and 0.2%. But they pay but paid monthly (Classic and Plus, respectively)
  9. There are various variations of Debit Card depending on the preferences of the consumer
  10. Access to alternative channels, e. for example. Mobile banking and internet banking are two examples.
  11. Non-chequing account (No cheque deposits allowed)
  12. All other transactions are charged in line with the Banker’s tariff.

Requirements for opening domiciliary savings account

  1. Opening balance and daily balance of [$, £,€] 500 for Classic
  2. Opening balance daily balance of [$, £,€] 10,000 for Dom Plus
  3. Means of address verification
  4. 2 references
  5. 2 Passport photographs
  6. Valid ID of each signatory
  7. Residence Permit (Foreigners)
  8. Forms CO7 and CO2 as applicable for companies
  9. Certificate of Incorporation / Business Registration for companies
  10. Memorandum and Article of Association as applicable for companies
  11. Board resolution as applicable
  12. Search report as applicable

Fidelity Bank

Fidelity bank provides you a foreign currency account to do international transactions. It operates in US Dollars, British Pounds and Euro. It enables inflows to hit designated account without being subjected to variation in the local exchange rate, depending on the currency you are operating.

Features and Benefits of Fidelity Diaspora domiciliary account

  1. A minimum account opening balance of $50, €50, £50
  2. A minimum account operating balance of $30, €30, £20
  3. An interest rates on call/demand and fixed deposits
  4. You have access to Internet banking, email transaction alerts and statements
  5. Also, you have the option of a Nominee Resident Joint Signatory in Nigeria (e.g. spouse, parent, etc)
  6. Standing orders
  7. There are investment facilitation services for shares traded on NSE
  8. A draft issuance in foreign currency
  9. You have the privilege to open a Domiciliary and a Naira current account

Requirements for opening Fidelity Diaspora domiciliary account

  1. A Diaspora Account Opening Form
  2. You need one Passport Photograph (digital passports allowed)
  3. A valid identification card; Valid Nigerian passport, valid driver’s license, valid national ID card or voter’s card, Valid foreign passport/driver’s license supported by proof of Nigerian Nationality (either birth certificate, expired/valid Nig. Passport, driver’s license or Voters card)
  4. Proof of address. A certified or notarized duplicate of one of these: Bankers confirmation stamp utility bill that was issued within the three (3) months of the last months of statements from credit or bank accounts made within the last 3 months and receipts for tenancy agreements/rent.
  5. Additionally, you require two Nigerian Bank references from active domiciliary, corporate or current account holders (for domiciliary and current account only). When the certification of documents is done by one of the following the following: Notary Public/court/lawyer/Solicitor, Nigerian Embassy/High Commission/Consulate in customer’s country of residence, your Foreign bankers, government Security Agencies, commissioner for Oath

UNION BANK

Union Bank offers you a variation of domiciliary accounts, depending on the needs of customers.

Types of Union bank domiciliary accounts

The different types of domiciliary accounts available at Union Bank Nigeria are:

  • Domiciliary Savings account
  • Domiciliary Current account
  • Travel Card USD Domiciliary account/ Unionace USD Domiciliary Account

These accounts designed to fit the needs of customers, places Union Bank domiciliary account as one of the bests in Nigeria. The available currencies on the Union Bank domiciliary accounts are USD, GBP and Euro.

To open a domiciliary account with Union Bank, you need a minimum of $100 across these account types.

Domiciliary Savings account

This is a foreign currency account that gives customers the option to Save on any of the three currencies of the world (US Dollars Euros, US Dollars as well as GB Pounds) while earning interest.

Benefits and features Domiciliary Savings account

  1. Account opening balance of $100 or its equivalent in Pounds and Euros
  2. Charge of the amount you withdraw is 05%
  3. The interest earned is 0.2 percent per.A (interest is forfeited if the withdrawal exceeds four times within one month)
  4. 0.05% is charged on cash withdrawals

Requirements for opening Domiciliary Savings account

  1. 2 passport photographs
  2. Valid means of identification: international passport or Driver’s license/National Identity card
  3. Current Utility bill (not more than 3months old) or signed tenancy agreement
  4. BVN
  5. CIU Form

Domiciliary Current account

This is a foreign currency account lets customers fund their account with any three currencies (US Dollars Euros, GB and US Dollars).

Benefits and features of Domiciliary Current account

  1. Account opening balance of $100 or its equivalent in The Euro and Pounds
  2. Swift charges of 22USD,15GBP and 18EUR for transfers. Access to International Transfer
  3. Access to International transfer
  4. Transfer charge of zero point one per cent 1.1% of the principal amount (2 percent when transfers of cash are made) Zero.
  5. 0.05% is charged on

Requirements for opening Domiciliary Current account

  1. Two passport photos
  2. Valid proof of identification: International passport or driver’s license/national identity card
  3. Current utility bill (not more than 3 months old) or signed tenancy agreement
  4. BVN
  5. 2 valid references
  6. CIU Form

Unionace USD Domiciliary Account/ Travel Card USD Domiciliary account

Unionace is dollar-denominated and it is directly linked to your Travel USD domiciliary account. All transactions carried out using the card reflects on the dollar account instantly.

Benefits and features of Unionace USD Domiciliary Account/ Travel Card USD Domiciliary account

  1. The Card has no limit
  2. Validity is for 3 years
  3. Annual Maintenance of $10
  4. Account Opening balance is $100
  5. Up to 3% interest rate p.a on the domiciliary account
  6. Discount on travel tickets from some selected airlines
  7. Over the Counter transaction is allowed on the account
  8. Cost per person per visit at VIP lounges is capped at $32
  9. Issuance of Priority Pass for access to VIP lounges around the world

Requirements for opening a Unionace USD Domiciliary Account/ Travel Card USD Domiciliary account

  1. BVN
  2. CIU Forms
  3. 2 valid references
  4. 2 passport photographs
  5. Valid means of identification: international passport or Driver’s license/National Identity card
  6. Current Utility bill (not more than 3months old) or signed tenancy agreement

FCMB (First City Monument Bank)

The First City Monument Bank is another bank in Nigeria and when it comes to opening a domiciliary account with them, they are part of the best banks to open a domiciliary account with. Like every other domiciliary account, the FCMB domiciliary account allows customers to maintain accounts with foreign currencies.

Types of FCMB domiciliary account

FCMB offers 2 types of domiciliary accounts

  • FCMB Domiciliary savings account
  • FCMB Domiciliary current account

FCMB Domiciliary savings account

A foreign currency account with lower operating limits, for those who want to start saving in FX and salaries

 Domiciliary Account is designed to assist in developing savings habits when it comes to foreign currency for those who have it those who frequently receive or require to pay who regularly receive or make payments British Pound Sterling (GBP) as well as which is the United States Dollar (USD) and European.

Benefits and features of FCMB domiciliary savings account

  1. Opening balance of 60 GBP, 100USD, 70 Euros
  2. Account that is interest bearing, but will be canceled when there is more than 3 withdrawals within a month.
  3. A non-clearing, serialized book for withdrawals that is used by the account holder alone.
  4. Allows Foreign Currency Salary payments as well as cash deposit.
  5. Accounts can be used as an individual account or jointly operated account
  6. There is no charges for cash withdrawal.
  7. Offers Issuance of foreign currency denominated drafts
  8. Free E-mail transaction notifications
  9. Free monthly electronic statements

Requirements for opening FCMB domiciliary savings account

  1. Completed account opening form
  2. 1 passport photograph
  3. Minimum of 18 years-old and provide the following:
  4. International passport, Driver’s license or National ID card or Voters Card or Resident Permit (for immigrants)
  5. Verification of address like utility bill, recent bank statement or local authority tax bill etc.

FCMB Domiciliary current account

The FCMB Domiciliary current account allows customers to maintain accounts in foreign currencies. It is designed to enable customers conveniently carry out foreign currency transactions irrespective of where they are.

The features and benefits of Domiciliary Current Account

  1. A low open balance of 60 GBP, 100 USD, 70 EURO
  2. There is no minimum operating balance
  3. Personalized non clearing Cheque book for over the counters withdrawals
  4. Access to internet banking
  5. No limit on the frequency of monthly withdrawals
  6. No account maintenance charge
  7. Interest of 0.05% p.a for $4,000
  8. No losses from verse movements in exchange rates

Requirements for opening FCMB Domiciliary current account

  1. Completed account opening form
  2. 1 passport photograph
  3. Minimum of 18 years-old and provide the following:
  4. International passport or Driver’s License or National ID card or Voters Card or Resident Permit (for immigrants)
  5. Address verification e.g. Utility bill, recent bank statement or local authority tax bill etc.

Conclusion

It is very important to know the best banks to open a domiciliary account with in Nigeria. Different banks have different features, different transaction rates, etc. So, don’t just decide to open a domiciliary account without know what the bank is going to offer you in return and how they operate these accounts.

Please don’t forget to share our list of the best banks to open a domiciliary account with in Nigeria and if you have any enquiries, please feel free to make use of the comment box below.

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Guide

Internship for Nurses in Nigeria: Requirements, Benefits and Salary

Internship for Nurses in Nigeria

A lot of university graduate nurses want to know about internship for nurses in Nigeria, what it is about as well as nursing internship salary in Nigeria.

Internship in Nursing was approved in 2016, and this was a call for joy for all nurses in Nigeria. Before only the medical doctors, pharmacy and other health professionals were allowed to do internship, after various struggle by the Nursing bodies, nurses were given a go ahead in 2016.

The Nursing internship is a paid one year work-in-training programme. It was put together to give university gradate nurses the opportunity to improve their theoretical and practical knowledge in the nursing profession.

You may be asking, what is the benefit of doing internship in Nursing.

Benefits of doing internship in Nursing

Below are not all but some of the benefits of doing internship in Nursing.

  1. It provide nurse interns with the chance to use thorough clinical judgement and critical thinking skills throughout the care of their patient.
  2. It gives interns the opportunity to implement learned knowledge and behaviours into real-world scenarios as well as improve the knowledge of the nurse intern
  3. To collaborate in care services across multiple healthcare departments.
  4. It gives interns the opportunity for self development through improvement of communication skills, building confidence and gaining new perspectives.
  5. It provides opportunities to partake in quality care initiatives.
  6. It helps interns develop delegation and time management abilities
  7. Nursing internship provides an insight of what the future jobs entail.
  8. Nursing internship enhance leadership skills in management of conflict resolution and ethical issues.
  9. It gives the intern nurse the opportunity to explore a specialty in the field of nursing
  10. It gives nurse interns the opportunity to build a professional network with other professionals

The benefits of internship in nursing can not be overemphasized. Before you can become a nurse intern, there are some requirements that are needed.

Read Also

What are the requirements for Nursing Internship in Nigeria

Internship for Nurses in Nigeria

The requirements needed for nursing internship in Nigeria include:

  1. Primary /First school leaving certificate/testimonial
  2. O’Level result/certificate
  3. Local Government Area (L.G.A) certificate
  4. Induction certificate
  5. Temporary license
  6. Application letter/form (depending on the hospital you are applying to)
  7. CV/Resume
  8. Birth certificate
  9. Passports
  10. Statement of result/Degree certificate/Notification of results
  11. RN notification of registration/RN certificate
  12. 3 Recommendation letters

Once you have these documents then you are qualified to apply as a Nurse intern to an hospital of your choice. Now let us take a look at Nursing internship salary in Nigeria.

A lot of people will be wondering about the nursing internship salary or the pay of nurse interns. Let’s delve into it so that your mind will be at rest (smiles).

Nursing Internship Salary in Nigeria

The salary of a Nurse intern in Nigeria is dependent on which hospital you apply to. If you apply to a State-owned hospital or any of the H.M.Bs (Hospital Management Boards) be expecting a salary between N75,000 to N90,000. If you apply to Federal teaching hospitals, be expecting a salary between N80,000 to N120,000. However, if you apply to Federal Medical Centers (F.M.Cs) be expecting a salary between N95,000 to N120,000.

The salary of a nurse intern in Nigeria is somewhat different from the salary of a registered nurse in Nigeria.

Now that you have seen the salary range of nurse interns in Nigeria, let me tell you where you can do your Nursing internship.

Places you can apply for Internship in Nursing

As a graduate nurse, you can apply for nursing internship in any of the places below;

  1. Federal teaching hospitals
  2. Federal medical centers
  3. State hospitals or H.M.Bs
  4. Military hospitals
  5. Industrial hospitals
  6. And some selected Private hospitals

Let me give you some tips on how to find internship in Nursing. There are some basic truth I will be revealing to you. Internship for Nursing students in Nigeria is not easy especially when you decide to apply to some places like FMC, Industrial hospitals, federal teaching hospitals and some Private hospitals.

A lot of applicants are submitting internship application forms but only few will be chosen out of the hundreds of applicants, follow the steps below if you want to be part of the chosen ones.

Tips on how to get internship placements

Below are the following tips to get internship placements in Nigeria as soon as possible;

  • Get the required documents as stated above in this post
  • Have a strong connection (or what the lame man use to call “Long leg”) in the hospital you wish to apply to. In fact, with a strong connection you don’t need to have all the documents before you can get internship placement to that hospital of your choice.
  • Apply early. if you don’t have a strong connect, it is better for you to apply as early as possible but ensure all your documents are complete.

There is a lot of competition (as I have said earlier) when it comes to internship placements. If you are someone like me that doesn’t have a strong connect, it is better to have all your documents and apply as early as possible.

Let reveal a secret to you.

There are some hospitals that do not release application notice that nurse interns are needed, such hospitals are for those who has a very good connect.

Frequently Asked Questions on Internship For Nurses in Nigeria

What is Intern Nurse salary?

The salary of an intern nurse is dependent on where he or she decides to work. However, the average salary of an Intern nurse is N90,000. If you check above, I have simplified the salary of a nurse interns.

What does Nurse intern do?

A Nurse intern perform clinical procedures and provides care for patients under the direction and supervision of a registered nurse.

Do Nurse interns get paid?

Yes, nurse interns do receive monthly payments. However, some hospitals may decide to start paying their nurse interns after the first-three months of their duty resumption.

Can school of Nursing graduates do internship in Nursing?

No, internship is only meant for students who did nursing in the university, i.e, nursing internship is only meant for university graduate nurses.

Where can internship be done in Nigeria?

Internship can be done in any of approved hospitals. you can apply for internship placement in any of the federal teaching hospitals, H.M.Bs or F.M.Cs.

What is the duration of Nursing internship in Nigeria?

The duration of Nursing internship in Nigeria is one year. And it should be done in any of the NMCN approved hospitals for internship program.

Conclusion on Internship For Nursing Students

Internship in nursing still has a long way to go. University nurse graduates are left frustrated when it comes to getting internship placement. In this article, we have covered all you need to know about internship for Nursing students which include; the requirements for Nursing internship in Nigeria, Nursing internship salary in Nigeria and the duration of Nursing internship in Nigeria. I also reveal to you the benefits of Nursing internship, places you can apply for Nursing internship, as well as tips on how to get internship placements.

 

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How to do NMCN Online License Renewal, WCEA, CPDP, MCPDP Fees

How to do NMCN Online License Renewal, WCEA, CPDP, MCPDP Fees

In this article, you will find out the steps required to do NMCN online license renewal as well as WCEA, CPDP, MCPDP Fees.

Before we look at NMCN online license renewal fees and WCEA, CPDP, MCPDP Fees, it will be appropriate for you to know the requirement for NMCN portal license renewal and also how to get 6 Credit Unit for license renewal.

Note: Students undergoing approved Post-Basic Nursing Courses or Full time Nursing Programmes in conventional Universities are exempted from MCPDP. All they need is their Admission letter, School identity card and an introduction letter from their school Head of Department.

Requirement for NMCN portal License Renewal

  • Individual must have 6 credit unit courses approved by NMCN (which must include physical MCPDP).
  • Certificate of Training from whom He studied the Courses (MCPDP, CPD, others). That is, you need one MCPDP certificate and 30 contact hours of WCEA, or two MCPDP certificates to renew your license.
  • Photo Passport.
  • Valid email address and/or Phone number.
  • Fees to be paid.
  • Expired license.

How to get 6 Credit Unit for license renewal?

MCPDP is an approved program by NMCN that let you obtain your 6 credit unit to renew your license.

Every single MCPDP Certificate has 3 credit unit for license renewal, therefore two MCPDP certificates is needed to renew one license.

MCPDP courses is performed and organized by an approved members of NAMMN and NMCN from an accredited University, School of Nursing or an Organization.

WCEA, CPDP, MCPDP Fees

WCEA CPDP is still free and acceptable for licence renewal.

 Fees
WCEAFree
CPDPFree
MCPDPN20,000
LicenceN13,125

Registered nurse that want to renew his license must have performed two MCPDP each one cost N20,000 making total of N40,000.

How WCEA (CPD) Reduce Cost of MCPDP with N20,000

With WCEA you can get 3 credit units and attach it with one MCPDP to make it 6 credit units for License renewal.

Let us talk about how to do NMCN online license renewal since you have known the requirement for NMCN portal license renewal and also how to get 6 Credit Unit for license renewal.

How to do NMCN Online License Renewal with WCEA

Full details and processes on how to register, take the WCEA courses and use the certificates to apply for your license renewal online.

You can only renew your license if it has expired. But if your license has not expired, you can just take the courses and keep the certificate.

Council requires 3 CPD Points which is same as 30 Contact hours of WCEA, so you can either use one MCPDP certificate to apply now or 30 Contact hour of your WCEA.

STEP 1

  • Register and take WCEA courses: Register online to get your username and password. The link for the registration is https://engagement.wcea.education/NMCN?source_code=2511913
  • Next, get the app from your phones playstore and launch it. It will require you to change the password before proceeding.
  • Take the courses listed, there are lots of them.
  • Some courses have higher credits than others but take courses as you like and make sure to learn from them.
  • Make sure to take the post exam evaluation so as to get Certificate.
  • The certificates are pilled up in the app under the icon of a graduation cap🎓
  • After completing the required 30 contact hours, click on ‘GET’ at the top right corner the page where the certificates are piled up. This will get the course summary which you will upload in the course of renewal if necessary.

STEP 2

  • Log in here and activate your account on NMCN portal: https://licence.nmcn.gov.ng/Account/Signup
  • Authentication code will be sent to the mail and phone number linked to your licence. Which will be required, if you have issues with authentication code while trying to activate your account, send your full name, RN or RM number, date of birth, active mail, mobile number, to [email protected] OR [email protected]
  • You will get feedback within 48hrs work days
  • Then fill steps 1-3 with your details and necessary documents
  • Fill your qualifications and upload : soft copy of Passport (<100kb) and nursing certificate or Notification (<200kb PDF format).

STEP 3

  • Click on licence Renewal
  • Fill your geopolitical zone, state and the collection point.
  • When asked if you have done MCPDP, click Yes, but if you’re a student, as stated above, click No and follow the steps carefully.
  • Under step 3 is where you need your WCEA certificate/WCEA report sheet
  • After uploading one certificate(MCPDP), click on click to add module and follow the steps to upload another certificate if necessary.
  • Make sure your renewal documents e.g soft copy of MCPDP certificate is <200kb, PDF format and are saved where you can access them easily

STEP 4

  • Generate remitta (RRR Number)on the license page(your portal) and make payment choosing online banking or Bank branch payment can be done online or u will copy out the RRR number to any Commercial Bank Branch and make payment.
  • Immediately payment is made, your status will indicate Pending NMCN approval
  • Payment receipt will be sent to your registered mail if online payment is made or printed out to you if Bank Branch is used.
  • License renewal is N13,125 and penalty of N6,562 for each default year With just a grace of 3 months post date of license expired date

NMCN portal license renewal

The Nursing and Midwifery Council of Nigeria (NMCN) has started the implementation of the revised chargeable fees for her services.

This was made known in a letter cited which was signed by the Head of Accounting unit of the Nursing and Midwifery Council of Nigeria, dated July 1st, 2021 and addressed to the head of Nursing and Health institutions nationwide.

Below is the new service charges according to the circular:

  • NMCN portal license renewal fee N13,125
  • Re-issue of lost document N10,937 per document
  • Penalty for late renewal N6,562 per year of default.

NMCN licence verification fees

Verification of licence to foreign organisation has also increased.

Below is the newly approved verification fees:

  • Online Verification to UK Nursing Board N21,875
  • Verification to any other country N66,875 per certificate
  • To whom it May Concern N10,937

Others include:

  • Change of Name: N10,937
  • Nursing and Midwifery Council of Nigeria Council Examination registration fees for Basic Nursing students is now N48,748
  • For Basic Midwifery N59,685
  • Registration of Nurses and Midwives after successful examinations cost N42,967 while Postgraduate registration goes for N61,092

Registration of foreign trained Nurses fees

  • Application cost: N13,125
  • Application fee covering indexing and other logistics cost: N188,000

Now that you have known about the NMCN online license renewal fees as well as WCEA, CPDP, MCPDP Fees. Feel free to check out:

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