On this episode of our weekly business review, our host Juliet Anyiam discussed about Business in Nigeria: Late Payment Fees. Doing business in Nigeria can have a lot of bottlenecks and late payment fees is a major issue.
Small and large businesses experience the crunch of late payment fees. After rendering a product or service to a customer or client and they refuse to honor their end of the agreement by paying the invoice as at when due.
It serves as an insurance for these businesses, so the client or customer is excepted to pay a stipulated amount in additional to the agreed sum on the invoice for as long he/she defaults.
Watch the video below to find out more: