According to a recent LinkedIn post from Shiga Digital Holdings Limited, peer-to-peer foreign exchange has historically been a dominant channel for cross-border transfers in Nigeria, particularly when regulated options were slow or costly. The post suggests that for larger-volume corporate users, the limitations and risks of this informal infrastructure are becoming increasingly material.
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The company’s LinkedIn post highlights several hidden costs of P2P FX beyond headline rates, including informal top-ups added during transactions and exposure to anonymous counterparties. The post also points to the lack of enforceable legal protections when disputes arise, implying that these factors can affect both operational risk and effective FX costs for businesses.
As shared in the LinkedIn post, Shiga positions its regulated solution as an alternative that removes the vendor layer and enables transfers through named, regulated accounts. The post indicates that each transaction generates a compliance record, which is framed as not only a convenience but a necessity for businesses engaged in regular FX operations and treasury management.
For investors, the message suggests that Shiga is targeting Nigerian businesses paying overseas suppliers, managing stablecoin-based treasury, or hedging against Naira depreciation. If this segment increasingly shifts from informal P2P channels to regulated platforms, Shiga could benefit from higher transaction volumes, improved revenue visibility, and a stronger competitive position in Nigeria’s evolving cross-border payments and FX services market.