Institutional settlement and OTC for large-volume payments
When a single transfer runs into hundreds of thousands of dollars, a self-service payment form stops being the right tool. Rates move while you wait, funds arrive in parts, and nobody answers the phone when a shipment is sitting at port.
Oneremit's OTC desk handles high-value cross-border settlement for Nigerian businesses and institutions. You agree a rate before the money moves and get a confirmed settlement time you can plan against. Oneremit has processed over $200M in cross-border payments to date.
Speak to the OTC desk+234 707 445 6335
+234 707 445 6335
Trusted by leading businesses
Who the desk is for
Importers and manufacturers
You settle supplier invoices that are too large or too frequent for standard transfer limits.
Corporates and groups
You have recurring FX needs across several currencies and subsidiaries.
Fintechs and payment companies
You need a settlement partner for your own outbound flows.
Institutions and schools
You receive or send tuition and institutional payments at volume (see Nexus).
Any business
Your payment size means the exchange rate itself is a line item worth negotiating.
The OTC desk handles payments from USD 500,000, with no maximum. Smaller payments can also be considered: tell us the amount and we'll confirm.
How the OTC desk works
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Get in touch. Tell us the currency pair, the amount and when you need it settled. Message us on WhatsApp and your request goes to the OTC desk.
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Receive a quoted rate. Your dealer quotes a firm rate for the full amount, held for one hour. No mid-market rate with a spread hidden inside it.
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Confirm and fund. Accept the quote and fund the trade by transfer to a dedicated OTC account.
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Settlement. Funds reach the beneficiary within the settlement window for your corridor (instant to next day).
Corridors and currencies
| Route | Currency | Typical settlement | Common use |
|---|---|---|---|
| Nigeria → United States | USD | Same day | Supplier invoices, equipment, freight |
| Nigeria → United Kingdom | GBP | Instant | Services, tuition, trade |
| Nigeria → Europe | EUR | Instant | Machinery, pharmaceuticals |
| Nigeria → Canada | CAD | Next day | Tuition, supplier payments |
| Nigeria → UAE | AED | Same day (cut-off 17:00 UAE time) | Trade, re-export, logistics |
| Nigeria → China | CNY or USD | Same day (cut-off times apply) | Manufacturing, goods |
| Nigeria → Turkey | TRY or USD | Same day (cut-off times apply) | Textiles, machinery, goods |
What you get that a payment form cannot give you
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A rate you agreed to, not one you discovered afterwards. Every OTC trade is quoted and confirmed before execution, with the all-in cost shown upfront.
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One settlement, not five. Large amounts are settled in full rather than split into chunks that arrive across several days.
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Regulated entities on both sides. Oneremit is operated by Spark Tech Hub Ltd., a Payment Service Provider supervised by the Bank of Canada under the Retail Payment Activities Act and registered with FINTRAC as a Money Services Business (No. C100000025). Spark Tech Hub US Inc. is registered with FinCEN as a Money Services Business (No. 31000297609625). Spark Tech Hub holds an International Money Transfer Operator (IMTO) licence issued by the Central Bank of Nigeria (CBN). See licensing and compliance.
$200M+
cross-border payments processed
7
settlement corridors
1 hour
firm quote, held for the full amount
24/7
desk hours
Frequently asked questions
What is an OTC desk, and how is it different from a normal transfer?
OTC stands for "over the counter". Instead of executing at whatever rate a platform shows at that moment, you agree a price directly with a dealer for the whole amount before any money moves. For large payments this usually means a better all-in rate, a single settlement instead of several, and a person accountable for the trade.
What is the minimum amount for the OTC desk?
The OTC desk handles payments from USD 500,000, with no maximum. Smaller payments can also be considered: tell us the amount and we'll confirm.
Is there a maximum?
No. There is no maximum ticket size.
How long does settlement take?
Instant to next day, depending on corridor and payment method. Cut-off times apply on the UAE, China and Turkey corridors. Your dealer confirms the exact settlement time when quoting.
What documents do I need?
Your company's incorporation documents, plus documentation supporting the specific transaction. The full list is provided during onboarding.
Can the desk handle recurring payments?
Yes. The OTC desk offers both forward and standard pricing, depending on how often you trade.
How is the rate set?
Your dealer quotes a firm, all-in rate for the full amount, valid for one hour. There is no separate spread added after you accept.
Is Oneremit regulated?
Oneremit is operated by Spark Tech Hub Ltd., a Payment Service Provider supervised by the Bank of Canada under the Retail Payment Activities Act and a FINTRAC-registered Money Services Business (No. C100000025). Spark Tech Hub US Inc. is registered with FinCEN (No. 31000297609625). Spark Tech Hub holds an International Money Transfer Operator (IMTO) licence issued by the Central Bank of Nigeria (CBN).
Talk to the desk before your next large payment
One conversation tells you what rate and settlement time to expect, with no obligation.
