How to Send Money to Nigeria: A Step-by-Step Guide (2027)

The short answer

For most people the best way to send money to Nigeria is a money transfer app paid with a debit card, delivering naira into a Nigerian bank account. It is usually the cheapest option, the money typically arrives within minutes, and you can do it from your phone.

The rest of this guide explains every option, how to choose between them, and the details you need so nothing gets stuck.

The 5 ways to send money to Nigeria

| Method | Best for | Speed | Typical cost | |---|---|---|---| | Money transfer app to a bank account | Most transfers | Minutes | Lowest: no fee or a small fee, plus a small rate margin | | Money transfer app to a wallet (OPay, PalmPay) | Recipients who live in their wallet app | Minutes | Same as above | | Mid-market provider (Wise) | Larger amounts | Minutes to 2 days | A visible fee, no rate margin | | Cash pickup (Western Union, MoneyGram, WorldRemit) | Recipients without a bank account | Minutes | Usually higher; capped at about USD 200 | | SWIFT bank wire | Dollars into a domiciliary account | 1 to 3 days | Highest on small amounts |

Step 1: Decide how your recipient should receive the money

• Bank account (most common): naira paid straight into any Nigerian bank account.
• Mobile wallet: apps such as LemFi and Taptap Send can pay OPay and PalmPay wallets.
• Cash: for small amounts only. Under Central Bank of Nigeria (CBN) rules, cash pickup through money transfer operators is paid in naira and capped at about USD 200 equivalent.
• Dollars: remittance apps must pay out in naira. To deliver US dollars into a domiciliary account, use a bank wire. See our domiciliary account guide.

Step 2: Compare providers by the naira received

Fees are only half the cost. Most apps also earn a margin in the exchange rate, so a "no fee" app can still cost more than one with a fee.

The only fair comparison is how much naira your recipient gets for the same amount, after every fee and margin. Our live calculator ranks every provider that way, for any amount. Rates for the largest providers update automatically twice a day.

Step 3: Collect your recipient's details

For a bank deposit you need:

1. Full name, exactly as it appears on their bank account. It must match their BVN record, or the bank may reject the credit.
2. Bank name, for example GTBank, Access Bank, First Bank or Zenith.
3. 10-digit account number (NUBAN).
4. Phone number, which some apps use for delivery alerts.

For a wallet you need their wallet phone number and registered name. For cash pickup you need their name exactly as it appears on their ID.

Step 4: Verify your identity before your first transfer

Every licensed provider must check who you are. Expect to provide:

• a photo ID (passport, driving licence or national ID)
• a selfie
• sometimes proof of address

Do this before you need to send. Most "stuck" first transfers are waiting for verification.

Step 5: Pay and send

• Debit card: fastest, and the money usually moves within minutes.
• Bank transfer: often cheaper, but the transfer waits until your payment clears.
• Credit card: avoid. Most card issuers treat remittances as cash advances, with extra fees and interest from day one.

Check the final naira amount on the confirmation screen, then send. You get a reference number; keep it until your recipient confirms the money arrived.

How long does it take?

• Debit card to a bank account or wallet: usually minutes.
• Bank-funded transfers: 1 to 3 business days, because your payment must clear first.
• SWIFT wires: 1 to 3 business days.

Mistakes to avoid

• Comparing fees instead of naira received. A $0 fee does not mean the cheapest transfer.
• Paying with a credit card. You pay cash advance fees and interest.
• Name mismatches. Use the recipient's name exactly as it appears on their bank account.
• Large cash pickups. Anything above about USD 200 equivalent must go to a bank account.
• Unlicensed "agents" on social media offering better rates. If something goes wrong, you have no protection.

Rules that apply now

• Naira payouts: remittances through licensed money transfer operators are paid in naira.
• Large transfers: may trigger questions about the source of funds; keep payslips or statements handy.
• Gift tax: in the US, gifts above the annual exclusion of $19,000 per recipient in 2026 need a gift tax return. Tax is rarely due because of the lifetime exemption.

For country-specific rules, see our guides for the USA, UK, Canada and Europe.