Nigeria is Africa’s biggest country, with a population of more than 190 million people. Nigeria is also the country with the most people living abroad. According to the Nigerian government, more than 17 million Nigerians live abroad. Nigerians living abroad are the most important part of the economy. In 2017, they sent more than $20 billion to the country. This was $2 billion more than revenue from the oil sector.

In this article, we will look at how to send money to Nigeria cheaper, faster and easier.

Fastest and cheapest options

  • There are many options available to send money to Nigeria. Choose a method that is cheaper and convenient to you and the recipient, one that is faster, and one that is efficient.
  • Of all the methods, we recommend using Transferwise, World Remit, or wire transfer. However, you should also ask the Nigerian recipient on the method they mostly prefer.

Transferwise to Nigeria

Transferwise is a relatively new company, started in the United Kingdom. The company has grown so much that it is now worth more than $4 billion. Transferwise is one of the best platform to use to send money to Nigeria from the USA, the UK and other countries because of its low transaction cost, ease of use, and how easy it is to use.

To use Transferwise to send money to Nigeria, you just need to create a free account, enter the bank details of the receiver, and initiate a transfer. The receiver will get the money within a few hours. You can also send the money to a person’s phone number.


Transferwise is different from other types of sending money for a simple reason. Your money does not travel from your country to Nigeria. Instead, Transferwise sends money from their Nigerian account to the customer. As a result, the recipient will get the most recent exchange rate.

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WorldRemit to Nigeria

Worldremit is a company similar to Transferwise. The company was founded in 2010 and has grown to become one of the most valuable startups in the world. The company is used by more than 3 million users worldwide.

Like Transferwise, the company was started to make sending money to Nigeria and around the world easy, faster, and cheap. To send money to Nigeria using WorldRemit, you just need a free account and the bank or phone details of the recipient. You will use a simple process to send the funds, which will arrive within a few hours. Nigerians can receive funds sent using WorldRemit to their bank account, mobile number, or from a WorldRemit agent.

Coupon code World Remit

Special offer until March 2020. Send money with WorldRemit using the code 3FREE and pay no fees on your first three money transfers. Coupon code WorldRemit for free transfers.

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Xoom to Nigeria

Xoom is a company that was founded in 2001 to make it easier for people to send money. The company was acquired in 2015 by PayPal, which is one of the biggest fintech companies in the world. PayPal paid more than $890 million for this acquisition.

You can use Xoom to send money from US to Nigeria. You can also use it from different other countries. The process of sending money using Xoom is easy. You just need to create a free account and enter the details of the recipient. The recipient will receive funds within a day.

However, unlike Transferwise and WorldRemit, Xoom is a bit expensive. It is expensive because it also makes money from the differences in exchange rate. This simply means that the exchange rate you see on Google is not the same one that the user will receive.

The recipient will receive money directly into their bank account. They can also pick it up at a local agent.

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Azimo to Nigeria

Azimo is a relatively new company that makes it easier for you to send money to Nigeria. Founded in 2012, the company has seen significant growth. It has raised more than $66 million from venture capitalists. It has a value of more than $200 million and is used by more than a million customers every month.

Azimo works in a very similar way to Tranferwise. It has established bank accounts in more than 70 countries, including Nigeria. As a result, when you initiate an Azimo transaction, the company will use their funds in the country to send money directly to the customer. The customer will receive the funds within less than a day. You will also use less transfer fees when you use Azimo. If you are a new customer, Azimo will allow you to send money for free.

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Transfast to Nigeria

Transfast is one of the most popular money transfer companies in the world. The company was recently acquired by Mastercard, which is the second-biggest card company in the world. The company has grown fast by establishing key strategic partnerships with big companies like Upwork. For example, when a freelancer withdraws funds from Upwork, Transfast is the company that does the transaction.

The first step to send money to Nigeria using Transfast is to visit the website or download the app and create a free account. You should then enter the amount of money you want to send to Nigeria. You will see the exact amount the customer will receive. You will then send the money directly from your bank account using your card.

When you send money to Nigeria using Transfast, the recipient will receive their funds within a day. They can receive the funds directly into their bank accounts. They can also collect it at a local agent.

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Xpress Money to Nigeria

Xpress Money is another fast-growing money transfer company that makes it easy to send money to Nigeria. The company was established in Dubai, and is today one of the most popular among the trading community. The company was started to make funds transfer easier and cheap.

To use Xpress Money to send money to Nigeria, you just need to visit the website, enter a few details, and information of your recipient. The company will initiate the transfer immediately. The recipient will receive the funds within a few hours.

The recipient will receive funds directly into their bank account, mobile phone, or collect it from one of the hundreds collection points.

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Western Union to Nigeria

Western Union

Western Union is one of the oldest money transfer methods in the world. As the world has gotten more global, its value has been increasing. Today, Western Union is valued at more than $11 billion. It is easy to send money from, say the US to Nigeria using Western Union. You can do it using three main methods. First, you can use the Western Union website to transfer the funds. Second, you can go to your bank and do the transaction. Third, you can use Western Union agents.

After you initiate the transaction, the funds will be deposited directly to the customer’s bank account. Ensure that you have entered accurate bank details. Another alternative is that customers can withdraw funds at a local bank or agent. To do this, you will need to send the customer a special number.

The challenge with Western Union is that unlike Transferwise, it makes money from exchange rates fluctuations. Therefore, we recommend that you only use it when you are sending a lot of money.

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MoneyGram to Nigeria

MoneyGram is a company that uses a very similar model with Western Union. The company was in the news recently after the United States regulators blocked its sale to Chinese Ant Financial. The Chinese giant had submitted a $1.2 billion bid.

You can send money to Nigeria using MoneyGram using two main methods. First, you can go to a local bank and give them the details of the recipient. Second, you can send the money directly via the website. On the website, you can send money directly from your bank account. This will cost you $1.99. You can also use your card but this will cost you $15. The customer will receive their funds in their bank accounts or from one of the many local agents.

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Wire Transfer to Nigeria

Wire transfer is another popular methods you can use to send money to Nigeria. The process is simply a bank transfer method, where a bank sends money to another bank. To conduct a wire transfer to Nigeria, you need several things. First, you need the bank account number of the recipient. You also need their name, phone number, bank name, Swift number, and the bank address. Second, you can walk in to your local bank and initiate a bank transfer. If your bank has a digital platform, you can use it to send money.

The problem of using bank transfer to send money to Nigeria is that it often takes a few days for the funds to arrive. Another challenge is that banks tend to manipulate the exchange rate in their favour.

Summary of Sending Money to Nigeria

There you got it. You have many options if you want to send money to Nigeria. There are others like PayPal that we have not mentioned. We recommend that you take time to research the most cost-efficient methods. We also recommend that you double-check the bank and personal details of the recipient.