Nigeria Info
Joined: 23 Feb 2007
Posts: 14
Home Country: nigeria
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 Posted: Mon Mar 12, 2007 8:38 am Post subject: SHOPPING IN NIGERIA / NIGERIA SHOPPING GUIDE |
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SHOPPING IN NIGERIA
Markets are the most interesting places to shop. Special purchases include adire (patterned, indigo-dyed cloth), batiks and pottery from the southwest, leatherwork and kaduna cotton from the north and carvings from the east. Designs vary greatly, many towns having their own distinctive style. Other purchases include herbs, beadwork, basketry and ceremonial masks such as those of the Ekpo.
Shopping hours
Mon-Fri 0800-1700, Sat 0800-1630.
Banking hours
Mon 0800-1500, Tue-Fri 0800-1330. The Government owns a large percentage of all foreign banks.
Currency
Naira (NGN) = 100 kobo. Notes are in denominations of NGN500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of NGN1 kobo 25, 10, 5 and 1.
Currency exchange
The Government of Nigeria has fixed an artificially high rate for local currency (the Naira) in terms of its value in exchange for foreign currencies. However, trading on the black market is extremely dangerous and could lead to arrest. Therefore, visitors are advised to exchange currency at the official rate and at approved exchange facilities, which often include major hotels. Inter-bank transfers are frequently difficult, if not impossible, to accomplish.
Credit & debit cards
American Express, Diners Club, MasterCard and Visa are rarely accepted in Nigeria and, because of the prevalence of credit card fraud, their use is ill-advised.
Traveller's cheques
Facilities for changing traveller's cheques are limited to Abuja and larger towns.
Currency restrictions
Import of local currency is limited to N20 in notes and must be declared on arrival. Export of local currency is restricted to N20 in notes. Import of foreign currency is unlimited, but it must be declared on arrival; export is limited to N100 per adult over 16 and must be declared. Penalties for black market transactions are severe. |
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