Flutterwave, in partnership with Wema Bank and Kadavra BDC, has inaugurated Swap, a digital forex solution for Nigerians to access foreign currency at competitive exchange rates.
Swap is a digital platform for Nigerians backed by the Central Bank of Nigeria (CBN) to provide dollars, euros, and British pounds to customers, using cards.
According to Flutterwave, the project aims to distribute more than 10 million of these cards to Nigerians from next month, this move would be beneficial for Nigerians who require swift access to Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) to facilitate their educational pursuits, business endeavors, and diverse travel requirements.
Speaking on the project, Founder and CEO, Flutterwave, Olugbenga Agboola, said: “Our dedication to innovation is matched only by our commitment to simplifying financial processes for endless possibilities.
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“Swap represents a significant leap forward in how Nigerians will engage with foreign exchange.”
Managing Director, Wema Bank, Moruf Oseni said: “Our support for digital innovation in the Nigerian finance industry has been unrivalled since the launch of our digital bank, ALAT.
“As a bank that is committed to digital innovation, we are proud to be on this journey with Flutterwave because we believe a product like Swap will have a major impact across all sectors.”
CEO, Kadavra BDC, Cynthia Onyinyechi said “Swap is a step in the right direction for solving major FX problems for Nigerians, and has simplified the process for accessing foreign currency at the click of a button”.
