Artisan & Craft Products — Pay Nigerian Suppliers Faster, Cheaper
Import handcrafted goods, artisan products, and traditional crafts. And your bank makes it worse — 3-day settlements, 2-4% hidden FX spreads, and zero visibility into what your payments actually cost.
We built payment infrastructure for artisan & craft products businesses. 0.5% spreads. Same-day NGN settlement. Free container tracking.
Get a Quote for Your Next Nigerian PaymentArtisan & Craft Products margins are too thin to donate 2-4% to your bank on every supplier payment.
Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.
These aren't marketing claims — they're regulatory requirements we meet daily.
Save £3,535 per £100k Payment
Typical savings for Artisan & Craft Products paying Nigeria suppliers
- ❌ 2-3 day settlement
- ❌ Hidden FX margins
- ❌ High correspondent bank fees
- ❌ Manual compliance checks
- ✓ Settles in seconds — 2.3 second average
- ✓ Transparent pricing
- ✓ NIBSS Instant Payment (NIP) available
- ✓ 0.14s automated compliance
At £50k-£500k monthly volume, save £42,420/year
What Challenges Do Artisan & Craft Products Businesses Face Paying Nigeria?
Industry Pain Points
- Small batch, irregular payments
- Quality consistency in handmade goods
- Fair trade and ethical sourcing
- Long lead times for custom orders
Country-Specific Considerations
- Central Bank of Nigeria (CBN) foreign exchange regulations
- Form M (Import documentation) required for imports
- Treasury Single Account (TSA) compliance for government payments
- SWIFT code verification critical for international transfers
How Do Artisan & Craft Products Businesses Typically Pay Nigerian Suppliers?
Fast Settlement: Settles in seconds — 2.3 second average
Use NIBSS Instant Payment (NIP) for instant NGN settlement. Nigeria's instant inter-bank payment system, 24/7 availability
Real-Time FX Exposure Tracking
Upload supplier invoices as PDFs. Our AI OCR extracts amounts and currencies. See exactly what waiting costs you in real-time. Lock rates for 15 seconds when you see a good rate.
0.14s Compliance Screening
Automated compliance checks for Nigeria regulations. Central Bank of Nigeria (CBN) foreign exchange regulations handled automatically.
How Artisan & Craft Products Businesses Typically Pay Nigerian Suppliers
If you're importing in this sector, you're likely dealing with a mix of payment terms. Here's how they work — and why speed matters.
⏱ Payment Timing
Advance payment common (artisan working capital). 50% deposit, 50% on shipment. Full upfront for custom orders.
📄 Invoice Terms
50/50 deposit structure, full advance for custom, cooperative invoicing.
Order-based production. Q4 peak for gifting. Custom orders require advance funding. Small batch, frequent orders.
📊 FX Risk Profile
MODERATE: Emerging market currencies (INR, MXN, MAD, IDR). Small values limit absolute exposure. Currency volatility higher.
Direct artisan relationships. Cooperatives for aggregation. Fair trade partnerships. Long-term relationships for quality.
Common Documentation for Artisan & Craft Products
- Fair Trade Certificate
- Certificate of Origin
- Artisan Declaration
- Product Specification
- Quality Photos
Popular Nigeria Supplier Types for Artisan & Craft Products
Common Nigeria Suppliers
- Oil & gas service providers (Lagos, Port Harcourt)
- Agricultural exporters (Kano, Kaduna)
- Manufacturing (Lagos, Ogun State)
- Construction materials (Lagos, Abuja)
Payment Tips for Nigeria
- Use NIP for instant settlement - avoid SWIFT delays
- Nigeria = Africa's largest economy, growing trade hub
- Multiple exchange rates exist - ensure you get interbank rate
- Oil & gas payments require enhanced due diligence
Frequently Asked Questions: Artisan & Craft Products Payments to Nigeria
How do Artisan & Craft Products businesses pay suppliers in Nigeria?
Artisan & Craft Products businesses can pay Nigeria suppliers instantly using Unicorn Currencies. We offer a 0.5% FX spread with 2.3-second average settlement using local payment rails like NIBSS Instant Payment (NIP). This is significantly faster and cheaper than traditional SWIFT transfers which take 2-3 days.
What banking details do I need for Nigeria Artisan & Craft Products suppliers?
To pay Artisan & Craft Products suppliers in Nigeria, you need the recipient's NUBAN (10-digit Nigerian Uniform Bank Account Number), account number, and beneficiary name. Our platform validates these details automatically to ensure successful payment delivery.
How much can Artisan & Craft Products businesses save on Nigeria payments?
Artisan & Craft Products businesses typically save 87% compared to traditional banks when paying Nigeria suppliers. On a £100k transaction, that's £3,535 in savings. With Unicorn Currencies, you pay just 0.5% FX spread + £5 per payment vs banks charging 4% spread + £40 fees.
Is container tracking available for Artisan & Craft Products shipments from Nigeria?
Yes, Unicorn Currencies offers FREE container tracking for Artisan & Craft Products shipments from Nigeria. You receive real-time visibility into your cargo, including demurrage alerts to help avoid costly port storage fees. This feature is included at no extra cost with your payment account.
What currencies do Artisan & Craft Products businesses typically use with Nigeria?
Artisan & Craft Products businesses typically convert GBP to NGN when paying Nigeria suppliers. Unicorn Currencies provides live exchange rates with a transparent 0.5% spread, and you can lock rates for 15 seconds when you see a favorable rate. Our AI-powered invoice OCR can automatically extract amounts and currencies from supplier invoices.
Ready to Pay Nigeria Suppliers 87% Cheaper?
Join Artisan & Craft Products businesses saving £3,535 per £100k payment with t+0 (2.3s avg within unicorn network).
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