Here is a step-by-step guide on how to redeem gift cards in Nigeria in 2021 and gift card rates in Nigeria.
Persistent dollar scarcity in Nigeria has forced many import-dependent businesses to seek alternatives to traditional means of purchasing foreign products and payment for those products.
One of the several alternatives adopted by small import companies operating in Nigeria is gift cards. However, because of scams perpetrated by few fraudulent individuals, navigating this new terrain or niche required a guide.
To dive into how to beat fraud and exchange your gift cards to Naira in minutes, let’s first understand what gift cards are!
What Are Gift Cards
Gift cards are prepaid debit cards with a preloaded specific amount for the purchase of items.
Here is How a Gift Card Works
Since gift cards are prepaid debit cards loaded with funds for future purchases, the two types of gift cards, the open-loop and the closed-loop cards can be used online and in person.
Here are the differences between Open and Closed Loop Gift Cards
Open-loop gift cards can be used at many merchants, like regular debit cards while closed-loop gift cards are good at just one retailer.
Please note that closed-loop gift cards are usually not reloadable.
For many gift cards, there is a stipulated minimum and maximum initial loading amount, the usual minimum is $10 and a common maximum is $500.
In some situations, they can be used to pay for a portion of purchase with cash, debit, or credit used to balance the expense.
As a precaution to mitigate the risk of losses, many gift cards can also be registered online — a strategy that allows the remaining balance to be tracked and frozen if a card is lost. In this way, some gift cards are safer than cash.
Gift cards can be used to purchase items online and in physical stores where gift cards are accepted. For example, a bearer can use the apple gift card to buy apps, music, books, etc and also at any retail store that accepts gift cards.
How to Redeem Gift Cards to Naira
Apexpay.org, Nigeria’s fast-growing gift cards exchange company, is the leading gift card exchange platform online.
- Visit https://www.apexpay.org
- Click on get started and
- Initiate a sell order via WhatsApp chat.
- Discuss all the modalities and submit your bank account details
- Receive your payment in minutes.
Apexpay has developed a system that eases the burden and closes the gap that exists in the exchange industry by ensuring a safe and secure platform for both seller and buyer.
The Most Popular Gift Cards in Nigeria this Year
Amazon Gift Card
Visa Gift Card
Walmart Gift Card
Target Gift Card
Starbucks Gift Card
eBay Gift Card
American Express Gift Card
iTunes Gift Card
Google Play Gift Card
Amex Gift Card
Sephora Gift Card
Best Buy Gift Card
Gamestop Gift Card
MasterCard Gift Card
Nordstrom Gift Card
Apple Store Gift Card
Steam Gift Card
Macy Gift Card
Vanilla Gift Card
Nike Gift Card
Offgamers Gift Card
Home Depot Gift Card etc.
Gift Card Rates in Nigeria Today – Naira Gift card rates per $100
German Firm Partners Freddy Hirsch Nigeria to Boost Food Innovation
By Sodeinde Temidayo David
In a bid to boost food innovation across West Africa, a German-based nutrition supplier, Symrise AG, has partnered with Freddy Hirsch Nigeria, a manufacturer of ingredients.
According to the statement issued today by Symrise AG, the partnership will focus on the development, launch and commercialization of transformational food products, which includes general seasoning, bouillon meat, snacks, and instant noodles.
Freddy Hirsch Nigeria, a leading West African manufacturer of ingredients and flavours, boasts world-class Research, Development, and Application laboratories and manufacturing facilities.
On the other hand, Symrise AG is a global multi-billion-dollar fragrance, care, flavour, and nutrition supplier present in over 100 countries.
According to the Sub Regional Director, Flavour Africa Middle East, Symrise AG, Mr Sofiane Berrahmoune, the company is set to deliver its products and services at a greater speed to market in Africa, and for this reason, has partnered with Freddy Hirsch Nigeria.
Symrise AG spokesperson further stated that the partnership will give the company deeper access to valuable insights about Africa’s food industry.
This follows as increasing urbanization, rising incomes, a growing regional population, and evolving lifestyle changes are driving the African food flavour and enhancer ingredient market and increasing the consumption of processed foods and beverages.
The global flavour and fragrance market is projected to reach $36 billion in 2022 with Africa expected to play one of the biggest growth opportunities.
Also, according to a forecast for the period of 2020 to 2025, the Africa food flavour and enhancer market is foretold to witness a compound annual growth rate CAGR of 5.12 per cent as the continent proved to be a growing market.
Mr Berrahmoune concluded his statement by saying “together, we are stronger than ever, committed to co-create with Freddy Hirsch Nigeria, combining the best of our strengths and leveraging our strong global footprint with our winning local flexibility, market, and consumer understanding.”
Also speaking on the partnership, the Managing Director of Freddy Hirsch Nigeria, Mr Kojo Brifo, expressed that his company is set to achieve its vision of creating authentic African flavours and tastes.
He noted that Freddy Hirsch has invested in a Research, Development, and Application laboratory and a manufacturing facility with world-class quality management systems, in West Africa.
Mr Brifo added that partnership with Symrise AG will provide an acceleration of flavour development across West Africa and will increase the creativity of customized flavours, help our customers attain speed to market, and enhance their operational agility.
Together, Symrise AG and Freddy Hirsch Nigeria are set to position themselves as the leading contributors to the evolution of the food and beverage industry in West Africa and the Middle East.
Bolt Commences Food Delivery Service in Nigeria
By Modupe Gbadeyanka
In order to offer good working conditions to food couriers and profit to restaurant partners, a leading ride-hailing platform in Africa, Bolt, has launched a food delivery service.
A statement from the company said the Bolt Food Delivery will offer customers competitively affordable, efficient food delivery service and help to provide easier access to daily essentials.
With over 30 million customers worldwide, Bolt has built its ride-hailing platform efficiently to offer the best service in the sector to drivers and riders, positioning the company as a leader in Nigeria’s mobility sector. The company will now extend its expertise to food delivery to advance the sector with innovation and technology.
“We are excited to launch Bolt Food, which will allow Nigerians to order food from their favourite restaurants and receive it quickly and safely at their home or office,” the Bolt Nigeria’s Country Manager, Mr Femi Akin-Laguda, said.
“Our ride-hailing business is built on efficiency and easing mobility for riders while offering drivers a flexible opportunity to earn more income.
“Bolt is eager to bring this approach to food delivery and ensure that our partner restaurants benefit from our loyal customer base. This is also a way for us to augment the earning opportunities for Nigerians by contributing to the gig economy.
“We will ensure that it is worthwhile for couriers on the platform like drivers have benefited from our ride-hailing platform,” Mr Akin-Laguda concluded.
The entrance of Bolt Food to Nigeria will help restaurants have a broader reach to customers, with Bolt acting as a reliable platform for affordable delivery and efficient service. At the initial stage of the launch, customers can only place food orders from more than 100 restaurants in Lagos Island. Bolt is looking to add new restaurants to the app daily while also expanding to other parts of Lagos soon.
To place an order, users can download the Bolt Food application on their smartphone, with an array of different restaurants and available menu options to choose from. The application also provides customers with various price ranges and an estimated delivery time. Initially payments will be paid by cash, and customers can specify the location for contactless delivery drop-offs upon order arrival.
Bolt Food was first launched in Estonia in August 2019. The service is also available in South Africa, Ghana and Kenya.
ICAN Rebrands for Greater Dynamism, Deeper Inclusiveness
By Aduragbemi Omiyale
For greater dynamism and deeper inclusiveness across generations, the Institute of Chartered Accountants of Nigeria (ICAN) has rebranded with a new corporate logo and visual identity.
At the unveiling of the new logo and identity at an event held on Wednesday at the Oriental Hotel, Lagos, the leading umbrella body of the accounting profession in Africa disclosed that the transformation signifies its leadership, resilience, indelible footprints, growth and dynamism.
Business Post gathered that ICAN, with this new beginning, has pledged its unwavering commitment to members and other stakeholders with a greater positive impact towards nation-building.
The institute said it was poised to promote professional excellence, deepen its advocacy and facilitate accountability and transparency across the economy.
Explaining the choices of the colours and the new identity, ICAN said the predominantly blue colour in the new logo evokes professionalism, trust, reliability, stability, depth, benevolence and vibrancy of the organisation.
It further said the green stripe at the bottom represents vitality, freshness, growth and youthfulness while the two white stripes evoke a feeling of dynamism, integrity, transparency and new roads leading to new places and horizons.
The new identity in alignment with global trends is modern, innovative and professional. It is designed to work effortlessly across digital and physical channels.
Speaking at the unveiling ceremony, the Deputy Governor of Lagos State, Mr Obafemi Hamzat, commended the leadership of ICAN on the rebirth while acknowledging the contributions of the institute and accounting professionals in national development.
According to him, “ICAN is maintaining its leadership in the profession and adapting equally well to the global disruptions, even coming out stronger and youthful.”
In her speech, the president of ICAN, Ms Comfort Olu Eyitayo, stated said, “Today marks a new beginning as we consolidate the immense contributions of the founding fathers and past presidents of our noble Institute. The accounting profession is dynamic and they have firmly established a lasting legacy: the philosophy of keeping pace with the times.”
“In 56 years, ICAN has sustained its enviable status as the most influential and prestigious professional accountancy institute in Africa.
“Our unmatched contributions to national development are the unique selling point that has accorded the institute its enviable position. The ICAN brand is not just the toast of employers, but the products of the Institute are distinguishing themselves across all sectors – public or private.
“Our gathering this evening is to witness the rebirth of ICAN. This rebirth further amplifies what we represent as an Institute: promotion of Accuracy and Integrity and the continuous and conscious drive to act in the public interest.
“We are here to witness the launch of the Institute into an era of greater dynamism and deeper inclusiveness across generations. We are here to celebrate the new face of ICAN for Greater Visibility and Impact,” she enthused.
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