Send money to Nigeria

Because of recent regulation changes from the Central Bank of Nigeria, your recipient will no longer be able to receive your transfer in Nigerian naira. However, they’ll still be able to receive it in US dollars.

With this in mind, the best way to send money to Nigeria largely depends on how much you’re sending and your payment method. Fast delivery makes WorldRemit and Ria strong picks for speed, while Xoom offers similar speeds at typically higher prices. Look to WorldRemit and MoneyGram for cash transfers that beat Western Union’s fees. Overall you’ll want to compare digital money specialists for strong exchange rates, low fees and fast turnaround to get the best deal on your transfer.

Send money to Nigeria with XE

XE has fast transfers with low fees and a range of foreign currency tools.

• Send money to 130+ countries
• Competitive exchange rates that are often better than banks'
• Low transfer fees

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Compare international money transfers to Nigeria

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Name	Product		Filter Values	Fastest Transfer Speed	Fees (Pay by Bank Transfer)	Learn More
XE				Within minutes	$3	Go to site View details	XE has fast transfers with low fees and a range of foreign currency tools.		loading Fetching your data...
WorldRemit				Within an hour	From $1.99	Go to site View details	WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.		loading Fetching your data...

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How to send money to Nigeria from the USA

Sign up and send money with a digital money transfer specialist in four steps:

1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If you’re transferring to a bank, you’ll need your recipient’s Nigerian bank account details.
3. Confirm transfer details. Double-check your payment method, expected fees and destination.
4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Nigeria. Some money transfer providers send a text or email when your transfer is complete.

What’s the best way to send money to Nigeria?

Online money transfer providers usually offer the strongest exchange rates and lowest fees on money transfers to Nigeria. Some offer transfers straight to Nigerian bank accounts, while others allow the money to be picked up in US dollars in person. PayPal, banks and other options are available but come with high fees, weak rates and longer turnaround times.

Digital money transfer services

Companies like CurrencyTransfer specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Nigerian bank account, often in as little as a day or two.

Cash transfers

Restrictions in Nigeria make it difficult to send naira for cash pickup, so you’ll need to send US dollars. Services like MoneyGram allow you to transfer cash for pickup at a local branch in Nigeria — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, compare digital services like WorldRemit or XE when possible to MoneyGram to make sure you’re getting a good deal.

Banks

Beware of high fees and wide margins on the exchange rate compared to digital and other options, especially when wiring money abroad. Your local bank will almost always be more expensive than other options, so shop around before wiring money.

How to get the most out of your money transfer

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Nigeria to meet your needs:

• Exchange rates. The USD-NGN relationship fluctuates daily but typically only changes drastically once every few years. However, locking in an exchange rate now may save you money down the line.
• Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
• Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of money you’re sending.
• Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Nigeria.
• Maximum limits. When exchange rates are favorable, sending more money can save you money in the future. If you plan to send large amounts of money to Nigeria, be sure to pick a provider that won’t limit you.
• Transfer methods. Whether you want money sent to a Nigerian bank account or picked up as cash at a local agent, narrow it down to a company that matches your preferred delivery method.

Nigeria’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Nigeria’s exchange rate often fluctuates when compared to the US dollar, so expect exchange rates today to be different from those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Today’s exchange rate USD to NGN

Can you Cash App Nigeria?

No. Venmo, Cash App, Zelle and similar services are all restricted mostly to the US. Cash App and Venmo do not work between Nigeria and the US. You’ll need to use a dedicated money transfer service, a bank transfer, a PayPal transfer or something similar to send money to Nigeria from the US. Use our comparison table to see what your transfer to Nigeria could cost.

Documents needed for sending to and receiving money in Nigeria

To send money to Nigeria from the US, you’ll need government-issued ID and other documents. The documents needed to pick up money in Nigeria may be different by company.

What to watch out for

Nigerian money transfer scams have been plaguing the money transfer world for many decades, and may be referred to as 419 scams, Nigerian Prince scams or overseas funds transfer scams. Typical signs of this scam include:

• The money needs to be sent urgently.
• The transaction requires confidentiality.
• A US- or UK-based person acts as a go-between for a foreigner with large amounts of money.
• Money is requested to cover a fee.
• Scammer claims they are being persecuted for religious beliefs and want to give their money away.
• Claims that your distant relative died, but you need to send money to cover fees in order to access their wealth.

If you suspect someone may be contacting you through one of these scams, contact the FBI if you are in the US to alert them of this fraud attempt.

Bottom line

Sending your hard-earned money to Nigeria shouldn’t cost a fortune. Compare transfer companies that specialize in foreign exchanges for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.

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Last verified 12 Jan 2021

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