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
A Nigerian company pays a US LLC by wiring dollars from its domiciliary account (or dollars bought through its bank) against a proper invoice and, for larger or recurring work, a signed contract. On fees for consultancy, technical, management or professional services to a non-resident, Nigerian withholding tax is deducted, listed at 10% by PwC as at May 2026, so agree whether your price is gross or net before you invoice.
You run a consulting, design or software LLC in Texas or Maryland, and a company in Lagos wants to pay you. The client's finance team, its bank and possibly its tax adviser will all touch the payment. Knowing what each of them needs means you are paid in one attempt rather than three.
How the money moves
A Nigerian company pays a foreign supplier in foreign currency. It either holds dollars in a business domiciliary account or buys them through its bank, which acts as an authorised dealer under the CBN Foreign Exchange Manual. The Manual that took effect on 1 June 2026 removed Form A for outward payments from self-funded domiciliary accounts and allows direct transfers of up to US$10,000 a day without exhaustive trade documents, according to legal commentary (Mondaq/Pavestones, 24 June 2026). Above that, or where the company is buying dollars for the payment, expect the bank to want the invoice and contract on file. The forms themselves are explained in Form A and Form M in Nigeria.
The FX Manual also tightens dollar pricing inside Nigeria: Nigerian entities are expected to price and settle local transactions in naira, with sector exemptions (TheCable, 3 June 2026). Your invoice is a cross-border service bill from a US company, but a client may still ask its bank to confirm the payment fits the rules before it releases dollars.
The invoice the client's bank expects
- Your LLC's full legal name and US address, matching the name on the receiving bank account.
- Your EIN, and the client's name, address and, if it asks, its Nigerian tax ID.
- An invoice number, date, and a clear description of the service and the period it covers.
- The amount and currency (US dollars), payment terms, and whether withholding tax is to be deducted.
- Wiring details for international payments: account name, account number, the bank's SWIFT/BIC, the bank's address, and any correspondent instructions your bank gives you.
- A reference to the contract or purchase order, if there is one.
A client's finance team may also ask for a tax ID or a letter on your status. That request is covered in Nigerian clients asking for a TIN. The wider selling picture is in selling a US LLC's services to Nigerian companies.
Withholding tax: price it in
Nigeria applies withholding tax to many payments to non-residents. PwC's Worldwide Tax Summaries (reviewed 29 May 2026) list these rates on payments to non-residents:
| Payment | Non-resident company | Non-resident individual |
|---|---|---|
| Consultancy, technical, management, professional fees, commission | 10% | 10% |
| Other services not separately listed | 5% | 5% |
| Royalties | 10% | 5% |
| Rent or hire | 10% | 10% |
PwC notes that for a non-resident company providing technical, professional, management or consultancy services, the withholding is the final Nigerian tax. PwC's treaty table did not list the United States, so the non-treaty rate is the starting point. Whether a single-member LLC is treated as a company or as its owner is a question for your adviser. Nigeria's tax laws were reformed in 2025, so ask the client what rate its adviser applies today. Ask the client for the withholding receipt or credit note. You may need it for your US return; whether Nigerian withholding can be claimed as a foreign tax credit depends on your facts, so ask your tax preparer.
Worked example
Example only: you invoice US$10,000 for consultancy with "subject to WHT" on the invoice. The client withholds 10% ($1,000) and wires $9,000. An intermediary takes $20 and your bank charges $15 incoming: $9,000 - $20 - $15 = $8,965 reaches the LLC. If you need $10,000 net, gross up: $10,000 / 0.9 = $11,111.11 before bank charges.
Your US bank's side
Your LLC's bank already knows who owns it: US rules require banks to identify and verify the beneficial owners of legal entity customers when the account is opened, covering anyone with 25% or more and one controlling person (31 CFR 1010.230). An incoming wire from a Nigerian company may still prompt a question about the relationship. Keep the contract and invoice ready to send. If the client can only pay in naira, see getting paid in naira by a Nigerian client.
Records to keep for each payment
- The signed contract or purchase order and each invoice.
- The client's remittance advice or Swift reference for each wire.
- The withholding tax receipt or credit note for any amount deducted.
- Your bank statement showing the credit, with fees visible.
Together these answer a bank's source-of-funds question, support your bookkeeping, and give your tax preparer what is needed for any foreign tax credit question.
Where Pryme fits
A Pryme Business Account holds USD, NGN, GBP and EUR with local details for each, so a Nigerian client that prefers to pay naira can do so. Invoicing prepares the bill, and you choose when to convert. Outside Nigeria, Pryme's services are provided through regulated partners.
Questions people ask
How can a Nigerian company pay my US LLC?
By wiring US dollars from its domiciliary account, or dollars bought through its bank, to your LLC's account, against your invoice and contract.
Will a Nigerian client deduct tax from my invoice?
Often, yes. PwC lists 10% withholding on consultancy, technical, management and professional fees to non-residents as at May 2026. Agree gross or net first.
What should my invoice to a Nigerian company include?
Legal name, address, EIN, description and period of service, amount in USD, WHT treatment, and full international wire details including SWIFT/BIC.
Does the Nigerian company need Form A to pay me?
Not for payments from its own self-funded domiciliary account under the 2026 FX Manual, per legal commentary. Its bank may still ask for documents on larger sums.
Sources
- PwC Worldwide Tax Summaries: Nigeria, withholding taxes (reviewed 29 May 2026) · accessed Oct 2026
- Mondaq (Pavestones): The CBN Foreign Exchange Manual 2026, 24 Jun 2026 · accessed Oct 2026
- TheCable: What the CBN FX Manual 2026 changes, 3 Jun 2026 · accessed Oct 2026
- eCFR: 31 CFR 1010.230, Beneficial ownership requirements for legal entity customers · 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.