How to Send Money to Nigeria — Best Ways to Transfer Money in 2026
Last updated: 7/24/2026 | By Aboki Forex
Nigeria receives more remittances than any other country in sub-Saharan Africa — over $20 billion per year from Nigerians living in the USA, UK, Canada, Europe, and the Middle East. Choosing the right service can mean the difference between your family receiving thousands more or less in Naira. This guide compares every major way to send money to Nigeria so you can make the most informed decision.
Quick Comparison: Best Ways to Send Money to Nigeria
| Service | Speed | Fee | Rate Quality |
|---|---|---|---|
| Wise | 0–2 days | 0.5–1.5% | ⭐⭐⭐⭐⭐ Best |
| Remitly | Minutes–1 day | $3.99–$4.99 | ⭐⭐⭐⭐ Very good |
| WorldRemit | Minutes–1 day | $1.99–$3.99 | ⭐⭐⭐⭐ Very good |
| USDT P2P | 10–30 minutes | <1% | ⭐⭐⭐⭐⭐ Best (black market) |
| Western Union | Minutes (cash) | $5–$20+ | ⭐⭐⭐ OK |
| MoneyGram | Minutes (cash) | $5–$15+ | ⭐⭐⭐ OK |
| Bank Wire (SWIFT) | 2–5 days | $20–$50+ | ⭐⭐ Poor for large amounts |
Use the dollar to naira black market rate on Aboki Forex as your benchmark when comparing services.
1. Wise (Formerly TransferWise)
Wise is widely considered the best money transfer service for sending large amounts to Nigeria. Wise uses the real mid-market exchange rate (no markup) and charges a transparent fee of around 0.5–1.5% of the transfer amount. This means recipients in Nigeria typically receive the highest Naira amount compared to any traditional money transfer service.
How it works: Create a Wise account, enter the amount and recipient's Nigerian bank details (account number + bank name), pay via bank transfer or debit card, and the Naira arrives within 0–2 business days in the recipient's account at any Nigerian commercial bank.
Best for: Large transfers where getting the best rate matters most. Especially popular among Nigerians in the UK and USA sending money home.
2. Remitly
Remitly is one of the most popular remittance apps for Nigeria, offering two tiers: Economy (2–5 days, lowest fees) and Express (delivery in minutes, slightly higher rate). Remitly often runs promotions with no fees for first-time senders and competitive exchange rates.
Best for: Speed when you need money to arrive quickly. Supports bank deposits to all major Nigerian banks.
3. WorldRemit
WorldRemit offers competitive rates for Nigeria with the option of bank deposit, mobile money, or cash pickup. Their rates are typically better than Western Union and MoneyGram, and their app is easy to use for both senders and recipients.
4. USDT P2P Crypto (Best Rate, Requires Crypto Knowledge)
Sending money via USDT (Tether) on P2P platforms like Binance P2P is increasingly popular for Nigerians who want rates closest to the black market rate. The process:
- Convert your foreign currency (USD/GBP/EUR) to USDT on a crypto exchange abroad.
- Send the USDT to the recipient's Binance or Bybit wallet in Nigeria.
- The recipient sells USDT on Binance P2P for Naira at near black market rates.
Advantages: Exchange rates closest to the Aboki Forex black market benchmark, very low fees (<1%), settlement in 10–30 minutes. Disadvantages: Requires both parties to have crypto accounts and basic knowledge.
Check the current USDT to Naira rate to see what the recipient would receive.
5. Western Union
Western Union has the widest agent network in Nigeria with cash pickup locations in every major city and state. While convenient for cash pickup, the exchange rate is typically less competitive than Wise or Remitly. However, for recipients who need cash or live in areas with limited banking access, Western Union remains essential.
Best for: Cash pickup in areas with limited banking access. Also offers bank deposit.
6. MoneyGram
MoneyGram offers similar services to Western Union — cash pickup and bank deposit to Nigerian banks. Their rates and fees are comparable, though MoneyGram tends to have slightly lower fees for online transfers. Their agent locations are also widespread in Nigeria.
7. Bank Wire (SWIFT Transfer)
A direct bank wire transfer via SWIFT sends USD, GBP, or EUR directly to a Nigerian domiciliary account. This is preferred by businesses and for large amounts because:
- Funds land in a dollar account, allowing the recipient to hold and convert at a favorable time.
- No third-party intermediary — direct bank-to-bank.
- Suitable for large corporate transfers that money apps may flag.
Disadvantages: Higher fees ($20–$50 per transfer), takes 2–5 business days, and the CBN exchange rate applies when converting to Naira through official bank channels.
How to Get the Best Exchange Rate When Sending to Nigeria
- Use Aboki Forex as your benchmark. Before sending, check the current dollar to naira black market rate here. This is the highest rate your recipient could realistically get. Calculate what Naira amount the service would deliver and compare.
- Compare total received, not just fees. A service with zero fees but a worse exchange rate often delivers less Naira than one with a small fee and a better rate.
- Look for promotions. Remitly, WorldRemit, and Wise regularly offer first-transfer promotions with no fees or better rates.
- Consider the amount. For large amounts (>$1,000), rate differences matter more. Wise's percentage-based fee becomes proportionally better at scale.
- Time your transfer. Exchange rates fluctuate. Monitor the rate on Aboki Forex and send when the naira is relatively strong against your source currency.
Sending Money to Nigeria for School Fees
For Nigerian students abroad or parents sending school fees, USDT P2P has become the most popular method because it delivers rates closest to the black market rate — maximizing the Naira received. Nigerian universities and JAMB accept Naira payments, so recipients typically convert USDT to Naira and pay fees immediately. Alternatively, Wise or Remitly work well for direct bank deposits.