Canonical: https://unicorncurrencies.com/industries/commodity-importers/nigeria/

# Intelligence: Commodity Importers in Nigeria

## Industry Context

- **Payment pressure:** Commodity price and FX double exposure; Large volume transactions (£500k-£5M+)

- **Operational control:** Lock FX at contract signing (hedge price + currency); Large transaction support (£5M+)

## Country Context

- **Use case:** Pay Nigerian suppliers for oil & gas services, agricultural products, manufacturing

- **Settlement:** T+0 (2.3s avg within Unicorn network)

- **Banking:** **NUBAN** (10-digit Nigerian Uniform Bank Account Number)

- **Regulatory:** Central Bank of Nigeria (CBN) foreign exchange regulations; Form M (Import documentation) required for imports

## Key Industries in Country

- Oil & Gas

- Agriculture

- Manufacturing

- Construction

- Telecommunications