How to Pay Overseas Suppliers from Nigeria, Ghana and Kenya (2026)

Knowing how to pay overseas suppliers is as important as finding the right supplier. The method you choose decides how much risk you carry, how much paperwork your bank asks for and how easily you can recover money if something goes wrong. This guide explains the main ways to pay from Nigeria, Ghana and Kenya, what each risks, and what central bank and bank pages say about import payment paperwork, as read in October 2026. It is general information, not legal, tax or investment advice. Rules and limits change, so confirm every step with your bank.

The main ways to pay a supplier abroad

1. Payment through a marketplace's protected route. Alibaba says Trade Assurance holds funds in escrow and releases them after the product is received and confirmed. An Alibaba seller-blog guide lists refund timelines by payment method, including credit card, T/T (telegraphic or bank transfer) and others, with different limits, so check which options your order allows. Comilmart applies buyer protection to orders on our platform, with payment held until delivery is confirmed and a 7-day window. For which payment methods and currencies apply, ask us through live chat or /contact-us.
2. Bank transfer (T/T) directly to the supplier. Common and fast, but once sent it is hard to recover.
3. Letter of credit (L/C). A bank commitment to pay when documents match the terms. It is more secure and more expensive and slower to arrange.
4. Documentary collection (bills for collection). Banks pass shipping documents against payment or acceptance.
5. Open account. You pay after delivery. Suppliers rarely offer this to new buyers.
6. Money transfer services and cards. Convenient for small amounts but with limits and fees.

The U.S. International Trade Administration's guide to trade finance in Kenya lists payment methods in this order of security for the exporter: cash in advance, confirmed irrevocable letter of credit, irrevocable letter of credit, documentary drafts, open account and consignment. The mirror image applies to you as an importer: the more secure for the seller, the more risk for the buyer. That is why a protected route, samples and a small first order matter.

What the FBI and FTC warn about

The FTC says wiring money with services such as MoneyGram, Ria or Western Union "is like sending cash — once you send it, you usually can't get it back", and advises never wiring money to anyone you have not met in person. The FBI describes business email compromise as scams where criminals send emails that appear to come from a known source, and advises verifying any change in account number or payment procedure with the requester, using a number you look up yourself. Before you pay, work through our supplier verification checklist.

Nigeria: Form M and your bank

According to Guaranty Trust Bank's page on Form M, it is a mandatory statutory document to be completed by all importers, filed with an authorised dealer bank and initiated electronically on the Trade Portal provided by the Central Bank of Nigeria (CBN) in conjunction with the Nigeria Customs Service. The page says Form M is required whether or not the transaction is valid for foreign exchange, and gives validity as 180 days for general merchandise and 365 days for plant and machinery, with extensions possible.

On foreign exchange, the CBN's reforms page lists the October 2023 unification of exchange rates under a "willing buyer, willing seller" model and the later electronic matching system for interbank trading. A U.S. government guide updated in September 2025 also says naira-denominated debit cards remain restricted for international payments, while dollar-denominated cards can still make global payments. Because these rules change often, ask your bank which route and documents apply to your product today. Some products also need regulatory approvals before the bank or customs will proceed, as covered in our guide to starting a mini importation business in Nigeria.

Ghana: advance payments for imports

A Bank of Ghana notice dated 25 June 2024 (No. BG/GOV/FMD/2024/42) sets out advance payment procedures. As read in October 2026, it lists these documents: a customer instruction, a valid Import Declaration Form (IDF), a pro forma or commercial invoice and an importer undertaking to submit clearing documents within a set period (90 days from invoice payment for general merchandise, 180 days for capital goods with long manufacture periods). It states a limit of US$200,000 per transaction, per importer, effective 1 July 2024. This notice may have been updated since, so ask your bank for the current rule.

Kenya: authorised dealers and documents

The Central Bank of Kenya's Guidelines on Foreign Exchange (the document we read is dated 2002, so confirm current practice) say authorised banks may facilitate payments between Kenya residents and non-residents, and that dealers must obtain and retain appropriate documents for transactions above the equivalent of US$10,000. For imports, it lists the Import Declaration Form, transport documents and the original commercial invoice, and says banks may make advance payments if the importer undertakes to submit documents promptly after shipment. The U.S. guide to Kenyan trade finance, last published in July 2024, says residents may buy or sell foreign exchange through authorised dealers without restriction up to US$10,000 equivalent, with documentation of purpose required above that.

A safer payment routine

• Pay only to an account whose name matches the supplier's legal name.
• Split payments: a deposit against a proforma invoice, with the balance linked to inspection or shipping documents.
• Keep the proforma invoice, contract, chat records and bank slip together.
• Ask your freight forwarder to confirm bill of lading details before you release the balance.
• Know your bank's cut-off times, fees and exchange rate in advance. See how to calculate landed cost to include bank charges.

Frequently asked questions

What is the safest way to pay an overseas supplier? No method removes all risk. Protected routes, letters of credit and staged payments reduce it, and verification before payment matters most.

Can I pay a supplier in cash? Never send cash with a courier or agent you cannot trace. Use a bank or a protected route.

Do I need Form M for every import into Nigeria? The GTBank page describes it as mandatory for all importers. Ask your bank about your shipment.

Can I pay on Comilmart? Buyer protection holds payment until delivery is confirmed, with a 7-day window. For accepted payment methods and currencies, ask through live chat or /contact-us.

What if I paid a fraudster? Contact your bank immediately and report to the relevant authority. The FBI advises reporting to ic3.gov and contacting your financial institution right away, though recovery is not assured.

Next step

Decide your payment route before you negotiate price, because it shapes the contract. To get quotes with payment terms in writing, submit a request at /request-quotation, and browse suppliers at /browse. Learning how to pay overseas suppliers safely starts with a call to your bank.