Trade Services

Bookmark and Share

Our Trade Services offering refers to the co-ordination of the financial details involved in the exchange of goods and services between countries. Trade across borders can be complex due to varying trade practices, business regulations and levels of risk. At Wema, we recognise this challenge and have constituted a team of seasoned professionals with deep knowledge of the complex transactions that characterise cross-border trade.

We support our customers with current and leading-edge information on international trade, whilst ensuring seamless processing of transactions that meet global standards.

Our service offerings include, though not limited to the following:

  • Form M Processing
  • Letters of Credit
  • Bills for Collection
  • Form NXP Processing
  • Shipping Documents Handling
  • Trade Finance
  • Invisible Trade
  • Advisory Services
  • Offshore Guarantees


Documents required for processing import transaction

  • Form M (e-Form M)
  • Proforma Invoice
  • Insurance Certificate
  • SONCAP, NAFDAC based on item of import
  • Letter of Credit (LC) application form if it is LC
  • Customer's letter authorizing us to do such transaction in line with the company's signature mandate.

Documents required for processing Export transaction

  • NXP form
  • Proforma Invoice
  • Nigeria Export Promotion Council Certificate of Registration
  • Certificate of Incorporation
  • Request for Information Form

Documents required for processing Invisible Payment

  • Form A
  • Additional document depends on service required.

Some services we pay for:

  • Medical expenses
  • Dividend & Royalty Payment
  • Management Fees
  • Technical Services
  • Personal Home Remittance
  • School Fees
  • Demurrage
  • Net proceeds of International Air- Tickets sales
  • Loan repayment
  • Expatriate personal home remittance

Documents required for processing PTA/BTA

  • Valid passport
  • Valid visa
  • Return ticket

Documents required for fund transfer

  • Customer’s instruction on his letter head in line with the company's signature mandate
  • Fund Transfer request form
  • Certificate of incorporation/Identity card – new customers

The Routing of Shipping Documents

  • Bills for Collection
  • One set of document form the supplier directly to the importer's bank – Wema bank
  • Two sets from the supplier's bank (remitting bank) to the importer's bank – Wema bank

Not valid for foreign Exchange Transactions

  • One set of document from the supplier to the customer.
  • Two sets of document directly from the supplier to Importer's bank

Letter of Credit

  • One sets of document form the beneficiary to the issuing bank (applicant’s bank) – Wema bank
  • Two sets of document submitted to overseas bank for payment and onward delivery to issuing bank – Wema bank

The document required for processing Pre Arrival Assessment Report (PAAR)

  • Transport document (Bill of Lading, Airway Bill or Waybill)
  • Commercial Invoice/Final Invoice
  • Packing List
  • Combined Certificate of value and Origin (CCVO) (Form C16)
  • Manufacturer Certificate/Certificate of analysis

The documents required for Bills for Collection Remittance are:

  1. Processed Form M
  2. Bill History
  3. Bill of lading/Airway Bill/ Way Bill
  4. Original Combined Certificate of Value and Origin (CCVO)
  5. Manufacturers Certificate/ Certificate of Analysis
  6. Customs clearing document (Exchange Control Document):
  • Single Goods Declaration Form
  • Used PAAR
  • Assessment Report
  • Terminal Delivery Order/Gate Pass
  • Duty receipt
  • Authority letter from Customer to buy foreign exchange in line with the company's signature mandate.


  • Forms of Export Payment
  • Letter of Credit,
  • Bills for Collection,
  • Advance payment.

We also negotiate Export documents and certify export proceeds repatriation to the CBN on behalf of our customers.

Text Sizer
Screen reader
October 27, 2016
SHARE PRICE N 0.5900 Down