As Nigeria continues to emerge as a key player in African trade and entrepreneurship, the demand for international payments to Nigerian businesses has grown significantly. From importers and exporters to manufacturers, freelancers, and service providers, businesses across Nigeria now work with partners around the globe—especially from the UK, USA, Europe, and Asia.

But how do you send payments securely and compliantly to Nigerian businesses? In this guide, we break down the most effective ways to make international payments to Nigeria, the risks to avoid, and how Wigmore Trading can help you manage seamless cross-border transactions.

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💼 Who Typically Sends International Payments to Nigerian Businesses?

• Importers and wholesalers paying Nigerian suppliers

• Retail chains or procurement companies sourcing goods from Nigeria

• Foreign clients paying for consulting, logistics, software, or professional services

• NGOs, donors, or agencies working with Nigerian partners or subcontractors

• Freelance platforms and international employers

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🔐 Best Ways to Make International Payments to Nigerian Businesses

1. SWIFT Transfers (Bank Wire Transfers)

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging system that allows direct bank-to-bank payments. Most registered Nigerian businesses maintain accounts with commercial banks like GTBank, Access Bank, Zenith Bank, and FirstBank, many of which support domiciliary accounts in USD, GBP, or EUR.

✅ Ideal For:

• High-value B2B transactions

• Registered companies with bank references

• Businesses needing formal payment documentation

🔁 Time: 1–3 business days
💸 Fees: Typically $25–$50 + exchange rate margin

💡 Pro Tip: Always confirm correct account details (including SWIFT/BIC code and domiciliary account currency) directly from the beneficiary.

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2. Remittance Platforms (Wise, Remitly, WorldRemit)

These platforms are best for small to mid-sized payments to Nigerian businesses, especially for service providers and freelancers.

Common options:

• Wise: Transfers to NGN or USD accounts with transparent exchange rates

• Remitly: Fast delivery to bank accounts; great for personal/business transactions

• WorldRemit: Supports bank deposits, mobile wallets, and cash pickup

✅ Best For:

• Freelancers and SMEs

• Low-value or repeat transactions

• Clients looking for quick settlements

💡 Some Nigerian banks require a Form M or NXP for large or commercial payments—especially when goods are involved.

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3. Payment Gateways (Paystack, Flutterwave, Fincra)

Nigerian businesses that sell goods or services internationally often use local fintech solutions to accept card payments, mobile money, and even foreign transfers.

You can:

• Pay with your international debit/credit card

• Receive a foreign currency invoice

• Use a secure hosted checkout page with real-time confirmation

✅ Ideal For:

• Ecommerce payments

• Subscription-based services

• Clients without a direct banking relationship

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4. Wigmore Trading Payment Facilitation Services

At Wigmore Trading, we help international buyers and organizations navigate the challenges of cross-border payments to Nigerian businesses. Whether you’re dealing with complex supply chains, unclear compliance steps, or want to avoid fraud, our team provides:

• ✅ Verified supplier payment processing

• ✅ Due diligence checks and verification

• ✅ Support with FX conversions and regulatory filings (Form M, NXP)

• ✅ Customs-cleared procurement and delivery in Nigeria

• ✅ Bulk payments and invoice tracking for NGOs or large buyers

💡 We act as your local partner on the ground—managing financial risk, verifying vendors, and ensuring your payments reach the right destination without delay.

👉 Contact Wigmore Trading today to streamline your payments to Nigerian businesses.

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🚫 Risks to Avoid When Sending Money to Nigeria

• Unverified vendors or fake account details

• Lack of payment documentation or invoice references

• Non-compliance with Nigerian FX regulations

• Using informal channels with no traceability or refund recourse