Way long ago, trade by Barter was the way of exchanging goods and services. As a result of the nature of this process and the challenges, a new system was formed. Whereas you could store your valuables with store keeps and in exchange you have a receipt showing that you have valuables that can be used as exchange. However, the receipt became what we have now as money. This is a very brief summary of the origin of money. As time passed, some economy began to prosper over others, causing a devaluation in those currencies. Unfortunately we happen to be in one of those devalued economy. The question then is how do we earn from these “valued” economy?
There are several ways foreign currencies could be sent to you:
Western Union money transfer
Opening and managing a domiciliary account.
These are ways to receive foreign currencies. Studies shows that a couple of our products are in high demand across the world. Products such as ginger, snail, cotton, etc. One of the ways we could earn foreign currencies(legally) is by becoming an exporter of the aforementioned products. Especially snails which goes for about #250-#500 depending on the size. Whereas, it goes for $4 in the international market. (that’s about #1800).
How do we begin exporting?
Becoming a legal entity with a registered business name
Open a Domiciliary account with as low as $50-200 in any of our commercial banks
Learn production and packaging of goods
Find ready buyers of your products online or through an agent. You’re in for a foreign exchange. Congratulations!!!
There are other foreign investments in Nigeria that can be used as a vehicle to earn dollars or Euros.
Ever heard about crypto-currencies or digital money? Like bitcoin, onecoin, The billion coin, TBC Etc
An investment in cryptocurrency should earn you foreign currencies
These are the several kinds of cryptocurrency.
These currencies are the new forms of payment across the world. It is not attached to a country’s economy, therefore they are more stable and have a higher appreciation. There’s what is called Time Value of Money. They appreciate with time, and are therefore good options for an investment to earn foreign currencies.
Cryptocurrency are digital forms of payment gaining acceptance across the world, because of its stable nature. An investment in gold could earn you foreign currencies too. You could become a trader or miner of cryptocurrencies and take advantage of the numerous ways to earn in foreign currencies.
Open a domiciliary account either in pounds, dollars or Euro. But to be candid with you, dollar and Euro are the most profiting.
Agricultural products are tools to earn foreign currencies. In that way, you don’t only earn, but also add to the growth of our economy. You become an exporter having a foreign investment should earn you in foreign currencies too. Take advantage of Google or an agent to find out more on which foreign investment will suit you better. There are more ways to earn, but time permits me to share three. I think they are the most important and readily available sources to earn foreign currencies.
1. To become an of Agricultural products, aside having a dorm account, being a registered business what other documentations are needed?
There are other agencies in Nigeria that regulates the exportation of our produce. Especially if it’s in large quantity. Identify with those bodies. Some of them include:
NEPC- Nigerian Export Promotion Council
Nigeria Export Processing Zone Authority (NEPZA)
FACILITATOR: Daniel Ikiemoye Wolo-Israel (Valuex Member)
COMPILED BY: Valuex Information Management Department