Transfer Money to Nigeria

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About Money Transfers to Nigeria

Whatever your purpose for sending money to Nigeria (NGN), we list the most extensive range of money transfer options. Our mission is to provide visitors with the help, advice and range of options for you to make Nigerian Naira transfers as cheap as possible. We compare the worlds leading foreign exchange companies, helping you make cheap online money transfers to Nigeria.

Perhaps you are transferring money to relatives in Lagos or sending a large amount of money to Kano. Whatever the occasion, sending money to Nigeria with a specialist currency company listed in the tables below can save you up to 85%. Our comparison table will find you the exchange rates and best products tailored to suit your needs when transferring Nigerian Nairas (NGN) to Nigeria.

Last updated: May 08, 2014 Our methodology

Quick Facts: Nigeria

Key information for sending money to Nigeria

Transfer Speed
2 working days
Local Currency
NGN
Income Tax Rate
7-24%
Avg. Property Price/m²
2,750.00 NGN
Avg. Monthly Rent (3 bed)
1,514.74 NGN
IBAN Required
No

Money Saving Tips for Nigeria

Expert advice for your international transfer

If undertaking business, contract permitting, try to relocate to Lagos when moving to Nigeria to ensure the most comfortable and interesting stay.

If buying land, appoint an estate agent to help manage your property in order to safeguard your investment.

Before you buy a plot in Nigeria be sure to conduct a "search" on the property to verify from the state government whether there are any pending litigations on the property.

If you are seeking to invest in property in Nigeria, evaluate the potential growth in investment in a particular area before you make a purchase.

What You Need to Send Money to Nigeria

Checklist of recipient bank details required

Routing Number e.g.
Bank routing number
SWIFT/BIC Code e.g. BANKNGXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Nigeria

Keystone Bank Guaranty Trust Bank Access Bank Nigeria United Bank for Africa Zenith Bank Nigeria First Bank of Nigeria

"When sending money to Nigeria, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

— MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Nigeria

What is the cheapest way to send money to Nigeria?

The cheapest way to send money to Nigeria depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Nigeria?

Most transfers to Nigeria are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Nigeria?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Nigeria?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Nigeria

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.