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
Buy only after three checks: an independent mechanic's inspection, the Nigeria Customs Service's CVMS check of the VIN for duty status (₦15,000, payable by card from anywhere, per Customs in October 2025), and a search of the National Collateral Registry for any loan secured on the car. Then pay the seller's verified account against a written sale agreement, and register the change of ownership in your relative's name.
Buying a car for a parent or sibling is one of the larger sums diaspora families send home, and it attracts a particular kind of fraud: cars with forged customs papers, cars that are still security for someone's loan, and sellers who vanish after a deposit. You cannot kick the tyres yourself, but you can control what has to be proven before any money moves. This guide sets out the checks in order.
Decide whose name the car will be in
Before you search, decide who will own the car on paper. If it is a gift to your father, register it in his name; he is the one who will deal with the road officials, the insurer and, one day, a buyer. If you want to keep ownership, say so to the family now, and expect to sign documents from abroad, which usually means a power of attorney. Our guide to powers of attorney signed abroad covers how that works.
Check the customs papers with CVMS
Most used cars in Nigeria were imported, and a car without genuine customs papers can be seized: a Nigeria Customs Service officer told TheCable in 2017 that Customs would confiscate goods or vehicles without genuine papers and that some agents hand buyers fake documents. Customs has since built a direct check. In October 2025 the Comptroller-General, Bashir Adewale Adeniyi, unveiled the Customs Verification Management System (CVMS), which confirms an imported vehicle's status and duty paid. The Guardian reported that you enter the Vehicle Identification Number (VIN) and pay a ₦15,000 verification fee with a local or international card, and that it can be used from anywhere in the world.
- Ask the seller for the VIN and photos of the VIN plate on the car and the customs documents.
- Run the CVMS check yourself, not through the seller's agent.
- Compare the result with the papers: make, model, year and VIN should match exactly.
- If the record does not match, or the seller resists the check, walk away.
Check the car is not someone's loan security
Under the Secured Transactions in Movable Assets Act 2017, vehicles can be used as collateral, and a lender perfects its interest by registering it with the National Collateral Registry (NCR). Aelex's overview notes that the registry can be searched by the borrower's identifier and the collateral's serial number, which for a car is the VIN. A search before you pay tells you whether a lender has a registered claim on it.
Inspection by someone who is not the seller's friend
Pay for an independent mechanic you or a trusted relative chose, ideally one who will test-drive and send a video. Ask for a written note on engine, gearbox, suspension, signs of flood or accident damage and whether the odometer looks consistent with wear. Nigerian sale-of-goods law gives a buyer some protection, but it is limited: in Leventis Motors v Agbajor (1971) the Supreme Court held that a second-hand car sold by description is of merchantable quality if it is roadworthy and safe to drive, even if not perfect. Wear-related faults found later are usually your problem, which is why the inspection comes first.
Paying safely
- Agree the price in writing in a sale agreement naming the buyer, seller, car, VIN and price.
- Confirm the seller's identity against a government ID, and that the name on the receiving account matches the seller or the dealership.
- Avoid large deposits to hold a car; if one is unavoidable, make it small and covered by the written agreement.
- Pay the balance only when the car, keys and every original document are handed to your relative.
- Keep the receipt and the agreement; they are your evidence if the papers later turn out to be false.
Large cash payments are a poor idea in any case: the Money Laundering (Prevention and Prohibition) Act 2022, as quoted by TheCable, bars an individual from making or accepting a cash payment above ₦5,000,000 except through a financial institution.
Worked example
An example only. Your brother finds a used saloon for ₦9,500,000. You pay ₦15,000 for the CVMS check, a mechanic charges ₦30,000 for an inspection, and you budget ₦250,000 for registration, insurance and plates (illustrative). Total outlay: ₦9,500,000 + ₦15,000 + ₦30,000 + ₦250,000 = ₦9,795,000. The ₦45,000 spent on checks is under half of one per cent of the price.
Registration and insurance
After purchase the car must be re-registered in the new owner's name with the state's motor licensing authority, and the car needs valid insurance before it goes on the road. Each state publishes its own process and fees, so ask your relative to collect the current list at the licensing office and keep the original customs papers with the vehicle file.
Where Pryme fits
With a Pryme account you can hold naira and pay the seller or dealership directly from abroad using Send, seeing the account name before you approve. If your money is in pounds or dollars, Swap shows the rate and the fee first. A verifiable receipt of the payment sits alongside the sale agreement in the car's file.
Questions people ask
How do I check if a car's customs papers are genuine?
Use the Nigeria Customs Service's CVMS: enter the VIN and pay the ₦15,000 fee by card, as reported in October 2025. Compare the result with the papers the seller shows you.
Can I buy a car in Nigeria from the UK or US?
Yes. Use a trusted relative or inspector on the ground, run the checks yourself, pay the seller's verified account against a written agreement, and register the car in the new owner's name.
How do I know a car is not under a loan?
Search the National Collateral Registry by the vehicle's serial number (VIN). Lenders perfect security interests over vehicles by registering there.
What if the car breaks down after I buy it?
Nigerian courts treat a second-hand car as merchantable if roadworthy and safe, so normal wear faults are usually the buyer's risk. An independent inspection before paying is the main protection.
Sources
- Nigerians to verify imported vehicles' status digitally with N15,000 (The Guardian) · accessed Oct 2026
- NCS: verify documents of imported vehicles before purchase (TheCable) · accessed Oct 2026
- An overview of the Secured Transactions in Movable Assets Act (Afriwise/Aelex) · accessed Oct 2026
- Leventis Motors Ltd v Agbajor [1971] NGSC 15 (NigeriaLII) · accessed Oct 2026
- Falana: CBN cash withdrawal policy illegal (TheCable, MLPPA 2022 quoted) · 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.