A draft is a written order by a Bank irrevocably undertaking to pay on demand a specified sum of money to the order of a specified person. Presently our foreign currency drafts are drawn on Citibank New York for US Dollar drafts and Standard Chartered Bank London, for Pound Sterling drafts.

Requirements

  • A funded domiciliary account in the currency of the draft required OR
  • A draft can be issued from a Naira account but requires additional documents in accordance with Nigerian foreign exchange regulations.
  • A properly written and duly signed customer instruction

Foreign currency drafts can be processed at the Funds Transfer Unit at Plural House, and customer’s request can be submitted at any of our branches bank-wide.