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 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
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Aliko Dangote, the president and chief executive of Dangote Industries Limited, has announced plans to publicly list the subsidiary, Dangote Petroleum Refinery, on the Nigerian Exchange Limited (NGX).
Dangote expressed confidence in overcoming previous challenges related to crude oil supply, stating, “We have resolved all the issues with crude oil supply. We are now ready to move forward with our plans to list the refinery on the Nigerian Exchange Limited.”
The refinery, poised to commence operations in December, holds the promise of significant contributions to the Nigerian economy.
At full capacity, it is expected to produce 650,000 barrels of oil per day, with an initial rollout of 540,000 barrels daily.
The facility will produce 27 million liters of diesel, 11 million liters of kerosene, and nine million liters of jet fuel, sourcing crude from various Nigerian producers, including the state oil company.
A finalized deal for the delivery of the first cargo of approximately six million barrels next month signals the imminent realization of this ambitious project.
The refinery’s impact is anticipated to extend beyond the oil and gas sector, with projections suggesting significant cost savings for Nigeria by eliminating the need to import petrol.
Industry operators and government officials are optimistic about the transformative potential of the Dangote Refinery.
Akinwumi Adesina, President of the African Development Bank (AfDB), lauded the project as the best-industrialized initiative for Africa, projecting substantial savings for Nigeria and the continent as a whole.
As Nigeria’s largest refinery project, the facility has garnered praise from the Lagos Chamber of Commerce and Industry (LCCI).
Dr. Chinyere Almona, the LCCI Director-General, commended the visionary efforts of Aliko Dangote and the supportive federal government, emphasizing the refinery’s capacity to meet Nigeria’s refined petroleum product needs.
The impending listing on the NGX positions Dangote Petroleum Refinery as a catalyst for economic growth, energy security, and self-sufficiency in Nigeria and beyond.
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