Pharmaceutical & Medical Supplies: Pay Nigeria Suppliers Fast
Import pharmaceuticals, medical devices, and healthcare supplies Send NGN payments to Nigeria suppliers with t+0 (2.3s avg within unicorn network). Save 87% vs traditional banks.
Save £3,535 per £100k Payment
Typical savings for Pharmaceutical & Medical Supplies paying Nigeria suppliers
- ❌ 2-3 day settlement
- ❌ Hidden FX margins
- ❌ High correspondent bank fees
- ❌ Manual compliance checks
- ✓ T+0 (2.3s avg within Unicorn network)
- ✓ Transparent pricing
- ✓ NIBSS Instant Payment (NIP) available
- ✓ 0.14s automated compliance
At £400k-£4M monthly volume, save £42,420/year
Common Challenges: Pharmaceutical & Medical Supplies in Nigeria
Industry Pain Points
- Strict regulatory compliance (MHRA, FDA)
- Temperature-controlled logistics
- High value, low volume shipments
- Payment timing critical for batch releases
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 Unicorn Solves Pharmaceutical & Medical Supplies Payment Challenges in Nigeria
Fast Settlement: T+0 (2.3s avg within Unicorn network)
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.
Pharmaceutical & Medical Supplies Payment Profile
Understanding the payment dynamics of Pharmaceutical & Medical Supplies when paying Nigeria suppliers
⏱ Payment Timing
Payment upon batch release approval (not shipment). LC for first orders. Net 45-60 for established Indian generics suppliers.
📄 Invoice Terms
LC at sight for APIs over £100k. Net 45-60 for generics (India). Net 30 for EU medical devices. Escrow for clinical trial materials.
Steady with flu season spikes (Oct-Mar). NHS contract cycles. Pandemic/epidemic surges unpredictable. Clinical trial timelines project-based.
📊 FX Risk Profile
MODERATE: INR (generics), CHF (branded), EUR (devices). High margins (40-60%) on branded provide FX buffer. Generics (15-25%) more FX-sensitive.
Long-term relationships critical for supply continuity. Indian generics (price), Swiss/German (quality/branded). Audited supplier lists required.
Common Documentation for Pharmaceutical & Medical Supplies
- Certificate of Analysis (CoA)
- Certificate of Pharmaceutical Product (CPP)
- GDP Compliance Certificate
- Import License (MHRA)
- Temperature Log/Data Logger Records
Popular Nigeria Supplier Types for Pharmaceutical & Medical Supplies
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
Ready to Pay Nigeria Suppliers 87% Cheaper?
Join Pharmaceutical & Medical Supplies businesses saving £3,535 per £100k payment with t+0 (2.3s avg within unicorn network).
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