What is a Voucher Bank?

This kind of bank performs certain functions very much like a traditional chartered bank  (checking accounts, sending and receiving money from others, etc.). Traditional banks operate under a government license. In the U.S. that can be the federal government via the Office of the Comptroller of the Currency (OCC), or a state’s bank regulatory agency, (list  here). One of the unique features of a government licensed bank is that they can issue that country’s national currency (i.e, dollars, yen,  pounds , etc.)

Here in Nigeria the Central Bank of Nigeria is responsible for overseeing banks in Nigeria who issue the Naira, the national currency of Nigeria. See the video on the UEN home page  to understand how banks issue national currencies.

The key difference here is that a voucher1 bank may issue other instruments that can be used to purchase goods and services other than a national currency, and may do so without having to obtain a bank charter or license from a government entity. See the below video for the difference between vouchers and money.

1 Voucher definition: https://www.merriam-webster.com/dictionary/voucher



UNIEX NG has been designed to issue a unique voucher for every state in Nigeria. That unique voucher is your default voucher, but you are free to acquire vouchers from other states. When you set up your account, UNIEX determines your primary state and assigns your default voucher.

Once you have established your UNIEX account you will then be able to buy and sell goods and services on your state’s marketplace (see Postings).

To establish a voucher account with UNIEX, please go to the Signup page.