Financial Love letters from Allawee

Financial statements are important in organisations. They come up very often: when trying to process financing, in discussions with shareholders and potential investors, and even when taking a loan. This is why closing your books at the end of every month is recommended.

Unlike a traditional debit card, the corporate card comes with a variety of things such as the spend control that limits companies to a specific spend set by the finance team. For instance, cards issued to drivers could be programmed in a way that it is used only in fuel stations. In addition to this unique feature, Allawee leverages innovation when it comes to offering products and services.

Creating a corporate expense policy is an important step to take as a business owner, especially when you want your business to grow. A corporate expense policy ensures that you and your employees are on the same page regarding finances. Everyone can have the same financial expectations, while also saving time, money, and effort.

Business and personal payment cards may seem the same. They both allow you make payments for goods and services. However, they are different in many other ways. Some of the ways they differ include ownership requirements, available features, and how they affect your finances. It is important to keep the differences in mind when choosing a payment card for your business.

Nigeria gets its forex sources from three primary sources; Oil sales accounted for (62% of major FX inflows), Remittances (30% of major FX inflows), whilst FPIs (5%). The current FX crisis could be traced back to 2020 following the decline in oil prices and the FPI exit from Nigerian markets to safe haven instruments in developed markets.