Cross-border payments company Cudium is expanding its business payment services for Nigerian importers seeking to settle invoices with manufacturers and suppliers in China, the United States and other international markets.

The company said its Cudium Business platform allows businesses to fund transactions locally in naira before converting and settling eligible overseas obligations in foreign currencies.

Its customers include importers, wholesalers and distributors purchasing inventory, equipment and other goods for the Nigerian market, according to the company.

The service addresses a recurring challenge for businesses whose revenues are generated in naira while their international suppliers require payment in foreign currencies.

For import-dependent businesses, the ability to settle invoices can have a direct effect on inventory cycles.

A Nigerian distributor may sell existing stock locally before placing another order with an overseas manufacturer. Depending on the agreement with the supplier, the next payment could represent a production deposit, the balance due before shipment or settlement for an entire order.

Delays at any point can affect production schedules, shipment dates and, ultimately, when goods become available to Nigerian customers.

“For an importer, the next sale often depends on getting the next order paid for,” Cudium founder and Chief Executive Officer, Adejumobi Abdulrahman, said.

“We support businesses through that payment stage, connecting the funds they hold locally with the international obligations they need to settle.”

Cudium said it has processed more than $1 billion in cross-border payments since 2022, although the company did not provide a breakdown showing what proportion of the reported volume came specifically from supplier payments.

It identified China, the United States, United Kingdom, India, United Arab Emirates and Hong Kong among destinations served through its cross-border payment operations.

The geographic spread reflects some of the international markets from which Nigerian businesses source manufactured goods, machinery, equipment and other products.

China, in particular, occupies a major position in Nigeria’s import economy, making payment infrastructure between Nigerian businesses and Chinese suppliers commercially significant.

Cudium co-founder and Treasury Lead, Olagunju Sodiq, said the company’s business platform was designed to support companies managing these international obligations.

Through Cudium Business, the company said customers can fund accounts locally, convert currencies and make eligible payments to overseas suppliers in their business names.

Cudium also says businesses using the platform can process international transfers of up to $10 million daily, subject to the platform’s applicable compliance and transaction requirements.

The limit is intended to accommodate both large individual transactions and businesses making payments to multiple international suppliers.

For larger importers, payment capacity can become particularly important when several supplier invoices fall due within a short period or when a company is financing a sizeable shipment.

The underlying challenge extends beyond any single payment company.

Nigerian businesses involved in international trade must routinely bridge the gap between locally generated revenues and foreign-currency obligations.

That requires access not only to foreign exchange but also to payment infrastructure capable of moving funds across jurisdictions while satisfying regulatory, banking and compliance requirements.

For importers, the transaction itself is only one part of a much larger commercial process involving suppliers, purchase orders, shipping arrangements, customs procedures and eventual distribution within Nigeria.

Cudium said its role is limited to facilitating the payment component of that chain, while purchasing decisions, supplier relationships and delivery arrangements remain the responsibility of the importing business.

The company also provides payment tracking through a Unique End-to-End Transaction Reference, commonly known as UETR, which can be used to follow qualifying international transfers through the payment process.

Such visibility can be useful where suppliers need confirmation of a payment’s progress before proceeding with production or releasing goods.

Cudium said businesses seeking to use its services undergo onboarding and business-document verification before they can make transactions.

As Nigerian companies continue to source goods and equipment from international markets, competition among banks, fintech companies and other authorised payment providers is increasingly likely to centre on transaction speed, foreign-exchange access, compliance, transparency and the ability to track payments across borders.

For importers, however, the objective remains considerably simpler: ensuring that suppliers abroad receive payment in time to keep goods moving towards the Nigerian market.