Remit Select - Exchange Rate Comparison

Africa's Largest Remittance Market

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Sending toNigeria · NGN

Send Money to Nigeria at the Best Exchange Rates

Send money to Nigeria for less. Compare verified money transfer providers for GBP, USD, CAD, AUD, EUR and NZD to NGN side by side, with exchange rate, fee and delivery speed together, so you can see exactly what your family in Nigeria will receive before you send.

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Why compare

Money Transfer to Nigeria: Africa's Largest Remittance Market

Nigeria is one of the biggest remittance recipients in Africa, receiving around $20 billion a year from a diaspora spread across the UK, USA, Canada, Australia, New Zealand and Europe. With many providers competing for every money transfer to Nigeria, exchange rates and fees vary a lot, which makes comparing the easiest way to get more naira for your money.

NGN rate spreads vary widely

The gap between the best and worst provider can be several percent on some days. On a £1,000 transfer, that can mean tens of thousands of naira.

Banks rarely offer the best NGN rate

High-street banks usually add a wider margin to the mid-market rate than specialist providers, so compare before you send from your bank.

Nigeria's receiving side is fast

NIP bank transfers and mobile wallets such as OPay and Palmpay run around the clock, so the real savings are found on the sending side.

$20B+
Remittances received by Nigeria annually
#1
Remittance recipient in Africa by volume
24/7
Instant bank payouts via NIP in Nigeria
6
Sending corridors compared on this page

Sending corridors

Money Transfer to Nigeria: Choose Your Sending Country

Select the corridor that matches where you are sending from to compare the best money transfer rates to Nigeria for that specific route.

Quick compare

Popular Amounts to Send to Nigeria

Jump straight to a comparison for a common transfer amount, in whichever currency you are sending from.

Simple process

How to Send Money to Nigeria in 4 Steps

Start comparing →
  1. 1

    Choose your corridor

    Select where you are sending from and enter the amount. We show you the providers offering that route to Nigeria.

  2. 2

    Compare providers

    See exchange rates, transfer fees, delivery speed and user ratings for each verified provider, side by side.

  3. 3

    Pick the best deal

    Choose the provider that fits your priority: the strongest NGN rate, the lowest fee, or the fastest delivery.

  4. 4

    Send with confidence

    Complete the transfer directly with your chosen provider. Many transfers reach Nigeria within minutes to 1–3 business days.

Why Leave Naira on the Table?

Exchange rates and fees differ from one provider to the next, and on a £1,000 transfer to Nigeria that difference can add up to a lot of naira. Remit Select shows exchange rates, fees and delivery speed side by side, in seconds, for free.

Compare Nigeria rates free →
Free to use · No sign-up required · Instant results

How to pay

Ways to Pay When You Send Money to Nigeria

Most providers accept several ways to pay. The right choice depends on your bank, the size of your transfer, and how quickly you need the money to arrive.

  • Most popular

    Bank transfer

    Send directly from your bank account. Usually the best rates and no card surcharges, and the most reliable option for larger transfers.

  • Instant

    Debit card

    Fast and convenient, with funds sent immediately. Some providers add a small surcharge.

  • Secure

    Credit card

    Accepted by some providers, though it often carries higher fees and may be treated as a cash advance by your card issuer.

  • Instant

    Open banking / pay by bank

    A newer method offered by select providers: fast setup, no card fees, and strong fraud protection.

  • Secure

    Cash deposit

    Pay cash at an agent location, useful without a bank account. In the USA, cash-funded transfers carry a 1% federal tax.

  • Popular

    Digital wallet

    Pay via PayPal or similar wallets on select platforms. Convenient if you already use one day to day.

How recipients get paid

How Your Family Can Receive Money in Nigeria

Nigeria supports a wide range of receiving methods, from instant bank deposits and mobile wallets to cash pickup across the country.

  • Bank account deposit

    Funds go straight into a Nigerian bank account, often within minutes over NIP. The most reliable method for larger amounts.

    • Access Bank
    • GTBank
    • Zenith
    • First Bank
    • UBA

  • Mobile wallet

    Some providers pay directly to OPay or Palmpay wallets, often near-instantly and without needing a traditional bank account.

    • OPay
    • Palmpay
    • Kuda

  • Cash pickup

    The recipient collects naira from a local agent. Valid ID matching the name on the transfer is required.

    • Western Union
    • MoneyGram
    • Ria Money

  • Bank remittance counters

    Many major banks offer dedicated remittance services for collecting funds in person.

    • Major banks
    • Nationwide

  • Home delivery

    Cash delivered to the recipient's door in select cities through certain provider partners.

    • Lagos
    • Abuja
    • Select cities

  • Licensed bureau de change

    Some partner networks pay out through licensed exchange offices in major commercial cities.

    • Select providers
    • Major cities

Expert advice

Tips to Get the Best Rate When Sending Money to Nigeria

Small choices in how, when and how much you send can add up to real savings over a year. Here is what experienced senders know.

  1. Compare before every transfer, even with a regular provider

    Exchange rates move daily, and NGN spreads differ a lot between providers. Checking Remit Select before each transfer takes under a minute and can put more naira in your family's hands.

  2. Compare the final NGN amount, not the headline rate

    A great-looking rate can be cancelled out by fees or a hidden margin. Look at what your recipient actually receives after everything is taken into account.

  3. Fund by bank transfer, not card or cash

    Card payments can add a surcharge, and in the USA cash-funded transfers carry a 1% federal tax. Bank transfers are usually the cheapest way to fund a transfer to Nigeria.

  4. Check wallet and bank payout options

    If your recipient uses OPay or Palmpay, some providers can pay straight to the wallet. Always confirm the payout method is supported before you send.

  5. Double-check the recipient's details

    For bank deposits, you need the account name exactly as on the account, the 10-digit NUBAN account number and the bank name. A typo can delay or misdirect a transfer.

Regulations

Limits, Taxes and Rules for Sending Money to Nigeria

Money transfers to Nigeria are regulated on both ends. Understanding the key rules helps you plan a transfer smoothly and avoid unnecessary delays.

  • Personal remittances such as family support, education and property are generally permitted, and Nigeria does not set a standard annual cap on receiving them.
  • Use providers that are licensed or partnered with licensed operators in Nigeria and regulated in your sending country.
  • Regulated providers verify your identity and may ask for source-of-funds documents on larger transfers under anti-money-laundering rules.
  • USA: since 1 January 2026, a 1% federal tax applies to remittances funded with cash, a money order or a cashier's check. Bank account and US debit or credit card funding is exempt.
  • Wallet providers such as OPay and Palmpay have their own limits by account tier, so larger amounts are often better sent to a bank account.
Key limits at a glance
Nigeria inward remittance capNo standard annual limit
Per-transfer limitSet by each provider
ID verificationRequired by regulated providers
Extra checksLarger amounts / source of funds
Wallet limitsVary by account tier
US remittance tax1% on cash-funded only
Limits and rules vary by provider, sending country and transfer purpose. This is general information, not legal or tax advice. Verify with your chosen provider and a qualified advisor for large transfers.

Common questions

Send Money to Nigeria: Frequently Asked Questions

Everything you need to know about sending money to Nigeria.

It depends on where you send from and how much. Specialist money transfer providers usually offer better exchange rates and lower fees than banks. Use Remit Select to compare providers for your corridor and amount, then pick the one that gives your recipient the most naira.

Compare GBP to NGN providers on Remit Select, choose one, register and verify your ID, enter the amount and your recipient's Nigerian bank details, then pay from your UK bank account or card. Paying from a bank account usually gives the best rate.

Pick a licensed provider, register and verify your identity, enter your recipient's name, bank and 10-digit account number, and choose how to pay. Most providers show the exchange rate, fee and exact NGN amount before you confirm.

The best rate is the one closest to the mid-market rate with the lowest fees. It changes daily and differs by provider, amount and payment method, so compare the final NGN amount received, not just the headline rate.

Many digital transfers arrive within minutes to 1–3 business days. Bank deposits over NIP and wallet payouts can be near-instant with some providers, while cash pickup depends on the agent network and your chosen provider.

Three things: the exchange rate applied, the transfer fee, and any margin the provider adds to the mid-market rate. Card payments can add a surcharge too. Compare all of these together to see the true cost.

Nigeria does not set a standard annual cap on personal inward remittances. Each provider sets its own per-transfer limits, and larger amounts usually need extra ID or source-of-funds checks.

Since 1 January 2026, the USA charges a 1% federal tax on remittances funded with cash, a money order or a cashier's check. Transfers funded from a bank account or a US debit or credit card are exempt.

For bank deposits: the recipient's full name as on the account, their 10-digit account number and bank name. For wallet payouts: the registered mobile number. For cash pickup: their full name matching a valid government-issued ID.

Major commercial banks such as Access Bank, GTBank, Zenith Bank, First Bank, UBA and Stanbic IBTC accept international remittances. Which banks a provider pays into depends on the provider, so check before you send.