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Agriculture
Bluecrest Agro
An agri-processor buying equipment in euros and selling in naira, now closing its books in a day instead of four.
Month-end close
1 day
Was
4 days
0
bank letters requested at audit
Industry
Agriculture
Location
Ibadan, Nigeria
Corridors
EUR → NGN, NGN → KES
Every payment lands in our ledger with the rate and invoice attached. Our auditors stopped asking for bank letters to prove what we paid and when.
Amara Okafor
Head of finance
The problem
Bluecrest Agro imports processing equipment from Europe and sells finished goods in naira. Each euro payment needed a bank letter to prove the rate and date for audit, and month-end close took four days.
What changed
Every Montra payment syncs to the company ledger with the invoice, the rate used, the fee and any FX gain attached. Reconciling became a review instead of a hunt.
Exposure in one view
Amara sees the company’s exposure by currency and sets approval rules for any conversion over €50,000, so treasury decisions are deliberate, not rushed.
The result
Month-end close now takes a day. At the last audit, the team didn’t need a single bank letter.
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