If you’re buying into Nigeria, you already know the drill: extra checks, picky LC wording, and sellers who won’t ship without confirmation. This page cuts the noise. Here’s the process that clears compliance and gets cargo released on time.
| Item | Typical range | What drives it |
|---|---|---|
| LC issuance fee | ~0.75%–2.00% p.a. (pro-rated) | tenor, size, bank, sector |
| Confirmation fee (if added) | ~0.75%–3.00% p.a. | country/bank risk, tenor, advising bank appetite |
| Advising / SWIFT / courier | bank fixed charges per bank | number of banks in the chain |
| Timeline (clean file) | Form M + PAAR: ~3–10 biz days; LC issuance: ~3–10; confirmation add-on: +2–5 | KYC, sanctions checks, wording fixes, bank queues |
Numbers are ranges. Complex KYC, regulated goods, or extra confirmations push longer.
If you need buyer tenor but the seller wants sight cash, consider a UPAS LC: seller gets paid at sight; importer repays the bank at 30–180 days. You still need clean wording and a bank willing to fund the usance period.
We scope the trade, draft bankable LC wording, line up an advising/confirming bank the exporter will accept, and coordinate with your authorized dealer bank so Form M, PAAR, and the LC all match. If usance is needed, we structure UPAS or discounting with clear costs up front. No guesswork, no dead ends.
Send the contract, Proforma, target ship window, and whether the seller asks for confirmation. We’ll map the bank route and timelines.
Start LC Placement (Nigeria) Do I need Form M and PAAR for every LC
For most goods, yes. Your dealer bank and Customs will require them before a clean issuance and clearance.
Can I issue in EUR instead of USD
Usually yes if all parties agree, but bank appetite and pricing can differ by currency.
When is UPAS the right call
When the exporter wants sight payment and you need tenor to sell or process goods. It still needs a bank willing to fund the usance period.
Why would a seller insist on confirmation
To remove issuing bank/country risk. It also locks payment timing if documents comply.
How fast can this move
Clean files can cycle in a couple of weeks. Messy KYC, wording changes, or extra certifications push longer.
This page is informational. Any LC or confirmation depends on bank credit approval, KYC/AML, sanctions checks, product regulations, and final wording consistent with the contract and trade rules.
Submit your deal using our secure intake form, and receive a quote within 1-3 business days. Existing clients can connect with their relationship manager through our secure web portal.
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promptly reviewed, and all communications are conducted through the intake form or the client portal for a seamless and secure process.
Thank you for considering working with us. A nominal fee of US$500 is required upon completion of each form. This fee covers the time and effort we invest in reviewing your submission and crafting a thorough proposal. We receive numerous inquiries and prioritize those that carry this fee, ensuring serious applicants receive prompt attention.
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