Fast Approval Checklist
- Step 1: Submit the Bill of Lading (BL), Single Goods Declaration (SGD), and Assessment Notice from Nigeria Customs.
- Step 2: Provide your commercial invoice and packing list verifying cargo value and description.
- Step 3: Our trade desk audits customs duty figures to determine exact clearing shortfall.
- Step 4: Funds up to ₦20,000,000 are wired directly to the designated commercial bank for customs duty settlement within 24 hours.
The Crippling Cost of Demurrage at Apapa & Tin Can Island
Importers operating through Lagos ports understand that every 24-hour delay once a vessel discharges is catastrophic. Shipping company demurrage and terminal storage charges accumulate rapidly, eating away profit margins. When exchange rate fluctuations suddenly increase the Pre-Arrival Assessment Report (PAAR) duty calculation, cashflow emergencies strike.
Port clearing finance provides urgent liquidity to pay Nigeria Customs Service (NCS) duty immediately, allowing goods to exit the terminal gates before crippling fees kick in.
How Cargo-Backed Clearing Finance Works
- Customs Valuation Audit: Lenders verify the genuine duty assessment on the Nigeria Customs portal.
- Direct Duty Payment: The financing institution disburses the assessed duty directly into the designated Customs revenue collection bank account.
- Goods Tracking & Release: Cargo is discharged from the terminal under joint supervision with licensed freight forwarding agents.
- Repayment from Wholesale Offtakers: Importers repay the loan within 30 to 90 days as inventory is distributed to buyers in Trade Fair, Alaba, or Balogun markets.
Helpful Loan Resources & Links
- Apply for Trade & LPO Financing
- Calculate Commercial Loan Interest
- Nigeria Customs Service Trade Portal (NCS)
- Nigerian Ports Authority Operations (NPA)
Frequently Asked Questions
How fast can clearing funds be paid to Customs?
Once documentation (Bill of Lading and SGD) is authenticated, funds are paid into the Customs collection account within 4 to 24 hours.
Can clearing loans be secured by the cargo itself?
Yes, fast-moving consumer goods, electronics, auto spare parts, and machinery can serve as trade collateral until inventory is sold.
