Nigeria
SevereNGA · NG · AfricaSystemic exposure. Every counterparty needs positive confirmation.
mobile money outpacing the records it leaves
delivery corridors near active conflict
high adoption with supervision still maturing
severe base risk that is not trade-corridor driven
severe base risk that is not ownership driven
no significant foreign property market
Nigeria is rated Severe at base, which is the view a payment services provider would take.
The rating is not the same for every business. For payments it reads Severe, because of mobile money outpacing the records it leaves. For trade and import/export it reads High, because of severe base risk that is not trade-corridor driven. One number cannot carry both, which is why the sector view exists.
For charities the practical question is where the money lands. Delivery near conflict carries documented diversion risk under FATF Recommendation 8, and that is a different control from the one a payment firm would apply.