Canonical: https://unicorncurrencies.com/industries/machinery-equipment/nigeria/

# Intelligence: Machinery & Equipment in Nigeria

## Industry Context

- **Payment pressure:** High-value transactions (£500k-£5M+); Long lead times (3-12 months)

- **Operational control:** Lock FX rates for multi-month projects; Milestone payment tracking

## 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