AF-Ricardo Money Shop opening bank accounts, funds transfers, cash deposits, cash withdrawal

AF-RICARDO MONEYSHOP is a one-stop shop for all basic financial transactions. Proliferating AF-RICARDO MONEYSHOP as a nationwide brand is a quintessence of expanding the financial system which is in consonance with the aim of the Central Bank of Nigeria, Deposit Money Banks, Nigerian Inter-bank Settlement System, and Licensed Mobile Money Operators; in accelerating financial inclusion in Nigeria.
Currently at AF-RICARDO MONEYSHOP, operating with a capital base of about #2,000,000 and performing over 1000 daily transactions to more than 10,000 residents around our neighbourhood, we make profit of about #30,000 on daily basis. There is a 20 – 30% increase during bank holidays because of extra charges of between #50 to #200 added to the service rate; due to the difficulty in accessing cash; the huge demand for cash during holidays; the huge crowds at most ATM cash points; and unpaid daily P.O.S remittances by the banks we use their P.O.S machines, who do not operate during bank holidays.

Stage Unknown EST July 2013
Sectors Financial services
Location Lagos, Nigeria
Markets Nigeria
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