Market guide · Africa
Selling in Nigeria
Nigerian shoppers use local debit cards, bank transfers and fintech wallets such as OPay. Instant bank transfers to a dedicated account number are a common way to pay online.
| Currency | Nigerian naira (NGN) |
|---|---|
| Languages | English, Hausa, Yoruba, Igbo |
| Region | Africa |
| Local acquiring | Cross-border for now |
| Settlement | T+3 |
| Payout rail | NIP · Seconds, 24/7 |
| Import consumption tax | VAT · 7.5% |
Popular payment methods
Share of online payments by method. Illustrative figures.
| Visa, Mastercard, Amex | 42% (42% of online payments) |
|---|---|
| OPay | 25% (25% of online payments) |
| MTN MoMo | 4% (4% of online payments) |
How to launch in Nigeria
- 1Open a sandbox accountTest every flow for Nigeria with test cards and methods before you sign anything.
- 2Turn on local methodsStart with OPay, MTN MoMo.
- 3Process cross-borderWe process Nigeria cross-border today. Smart routing still retries soft declines.
- 4Settle in your home currencyPayments convert at a published margin before settlement.
- 5Show duty-inclusive pricesQuote VAT and duties at checkout so nothing is due on delivery.
- 6Go liveVerify your business, switch your keys and watch the first orders arrive.
Duties and import tax
VAT at 7.5% applies to most imported goods.
Thresholds: Import duties apply; no general low-value exemption
Regulatory notes
- The Central Bank of Nigeria sets rules on foreign exchange that affect cross-border settlement.
- Non-resident digital companies may need to register for and charge VAT.
Placeholder notes for the prototype, not legal advice.
Customer story nearby
Ferrous Pay
Fintech
4
card programmes launched in 18 months · Illustrative
We wanted to build the product, not the plumbing. Issuing and settlement in one place let us do that.
Chidi Okafor, Chief Product Officer Read the story: Ferrous Pay