AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Split the build into stages, such as foundation, damp-proof course, lintel, roofing and finishing, and write into the contract that each payment is released only after someone independent of the builder has inspected that stage. In Lagos, planning permits have been processed only online through LASPPPA's e-platform since 1 April 2026, and LASBCA certifies construction stages, so its stage certificates are a natural checkpoint for payment.
Most people who build at home from Italy do not lose money in one dramatic moment. They lose it slowly: a large mobilisation payment, a request for "materials" that never arrive, a roof that is paid for before the walls are checked. Staged funding is the discipline that stops this. Money leaves your euro account only when work you can verify has been done, and the builder always has more to gain from finishing than from stopping.
Get the permit and the people right before the first euro moves
Stage payments are only as good as the checkpoints behind them. In Lagos, the state says planning permits have been obtainable online from anywhere since 1 April 2026, with all applications going through the Electronic Planning Permit Processing System and manual processing ended. That matters to you in Italy: you or your agent can apply without travelling, and you can see the application yourself rather than relying on a relative's word.
A planning permit is not permission to start. Lagos separates the LASPPPA planning permit from the LASBCA authorisation to commence, and a 2024 directive after a building collapse revoked commencement certificates and made occupying a building without LASBCA certification a criminal offence. A widely used 2026 guide describes LASBCA stage certification at foundation, damp-proof course, lintel and roofing, followed by a Certificate of Completion and Fitness for Habitation. Outside Lagos, ask the state planning authority what it certifies and when.
- Supervising engineer. Engage a COREN-registered engineer who does not work for the builder. COREN's portal lets you verify a practitioner or firm by registration number, exactly as it appears on the certificate.
- Quantity surveyor. A bill of quantities lets you price each stage before work starts, so a stage payment matches the work rather than the builder's request.
- A written contract. It should list the stages, the amount for each, what evidence releases payment and what happens if a stage fails inspection.
How to tie each payment to a milestone
The structure below is one common way to do it. The percentages are an example, not a standard; your quantity surveyor should set them against the actual bill of quantities.
| Stage | Example share | Released when |
|---|---|---|
| Mobilisation | 10% | Contract signed, permit and commencement authorisation in hand |
| Foundation to damp-proof course | 20% | Engineer's inspection report and photos; state stage certificate where issued |
| Blockwork to lintel | 20% | Inspection report; materials reconciled against the bill |
| Roofing | 20% | Roof inspected and certified |
| Finishing | 25% | Snag list closed by your supervisor |
| Retention | 5% | Held until an agreed defects period has passed |
Worked example (illustrative figures)
Take a contract of ₦40,000,000. Using the shares above: mobilisation ₦4,000,000, foundation to damp-proof course ₦8,000,000, blockwork to lintel ₦8,000,000, roofing ₦8,000,000, finishing ₦10,000,000 and retention ₦2,000,000. The six amounts add up to ₦40,000,000. At no point after mobilisation has the builder been paid for more than the work your engineer has already signed off.
Funding from euros: convert per stage or all at once?
Your salary arrives in euros; the builder is paid in naira. You can convert the whole budget at the start or convert each stage as it falls due. Converting early fixes your naira amount but leaves the money sitting in Nigeria, often with the builder or a relative, long before it is earned. Converting per stage keeps the money in your control, but the naira cost of later stages will move with the exchange rate, up or down. Many builders also re-price materials during a long project, so put a clause in the contract on how price changes are agreed.
- Pay the contractor's business account, not a site foreman's personal account, and keep every transfer reference.
- Ask for a receipt for each payment that names the stage it covers.
- Keep your Italian bank records showing where the money came from; they help if your Italian bank or the Nigerian bank asks about the source of funds.
The Italian side: what owning the house means
Once the house exists and is yours, Italian tax residents generally have foreign-asset reporting duties. Money.it's 2026 guide notes that quadro RW must be completed whenever foreign assets are held, even if no tax is due on them. Property abroad has its own tax, IVIE, which we cover in IVIE on Nigerian property, and the bank accounts you use for the project are covered in Quadro RW for Nigerian investments. This is information, not tax advice; a commercialista can confirm what applies to you.
What to check first
- Title to the land is clean and in your name (see title checks in Lagos, Abuja and Port Harcourt).
- Planning permit applied for and approved; commencement authorisation issued.
- Independent engineer appointed and verified on the COREN portal.
- Bill of quantities priced; stage amounts written into the contract.
- Payment route agreed: business account, receipts per stage, retention held back.
Where Pryme fits
A Pryme Personal Account holds euros and naira side by side, so you can keep the build budget in euros and use Swap only when a stage is approved; the app shows the rate and the fee before you approve. You then send the naira to the contractor's account and can generate a verifiable receipt through our partner VerifyDoc.ai (receipts), which anyone can check is genuine and unaltered. For a wider plan, see building a house in Nigeria from abroad.
Questions people ask
How much should I pay a builder in Nigeria upfront?
There is no legal standard. Keep mobilisation small and tied to documents such as the signed contract and the permit, and let your quantity surveyor set stage amounts against the bill of quantities.
Can I apply for a Lagos building permit from Italy?
Lagos says planning permits have been processed only online through its e-platform since 1 April 2026, and can be obtained from anywhere. You still need LASBCA authorisation before work starts.
Who should inspect each stage of my house?
Someone who works for you, not the builder: a COREN-registered engineer you can verify by registration number on the COREN portal, plus any state stage certification.
Should I send all the building money to my relative at once?
Sending everything early removes your control over it. Paying the contractor directly, stage by stage, keeps money unspent until work is verified.
Sources
- Nairametrics: Lagos says building approvals can now be obtained online from anywhere (22 Jul 2026) · accessed Oct 2026
- Peoples Gazette: Lagos revokes building permits, owners directed to revalidate (27 Jul 2024) · accessed Oct 2026
- Ownkey: Nigeria building permits guide 2026 (21 Jul 2026) · accessed Oct 2026
- COREN: practitioner and firm verification portal · accessed Oct 2026
- Money.it: IVAFE 2026, imposta sulle attività finanziarie estere (1 Apr 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.