Africa
Send Money to Nigeria
Last updated: February 2026|Written by Matt Woodley
Quick Facts
Important Note
CBN regulations, dual rate risk
Sending money from the UK to Nigeria requires choosing the right provider for GBP to NGN transfers. The exchange rate, fees, and delivery speed vary significantly between providers. Below we cover how money transfers to Nigeria work, what the banking system looks like on the receiving end, how to avoid common pitfalls, and which FCA-regulated providers offer the best rates for NGN transfers in 2026.
How Money Transfers to Nigeria Work
International transfers to Nigeria arrive via SWIFT through correspondent banking networks. You will need the recipient's full bank name, account number, and SWIFT/BIC code.
Common Reasons People Send Money to Nigeria
- Supporting family members in Nigeria
- Property purchases and deposits
- Living expenses for expatriates
- Business payments and supplier invoices
- Tuition and education fees
Tax & Regulatory Information
Check Nigeria's local regulations on incoming international transfers. Most countries require reporting of transfers above certain thresholds for anti-money laundering purposes. Consult a tax adviser familiar with both UK and Nigeria tax law before making large transfers, particularly for property purchases or gifts.
This is general guidance only. Consult a qualified tax adviser for advice specific to your circumstances.
GBP/NGN rates fluctuate based on central bank policy decisions, economic data releases, and global market sentiment. Always check the live rate before committing to a transfer, and consider using a forward contract for large or time-sensitive payments.
Best Providers for Sending Money to Nigeria
We have reviewed and rated the top money transfer services for sending money to Nigeria. All providers below are licensed, regulated, and IMT accredited.
Currencies Direct
IMT Score: 94/100Best Overall for Large Transfers
Fees
Zero fees
Speed
1-2 days
Min.
$100
TorFX
IMT Score: 91/100Best for Property Purchases
Fees
Zero fees
Speed
1-2 days
Min.
£100
Wise
IMT Score: 92/100Best for Speed & Small Amounts
Fees
Low transparent fee
Speed
Minutes to hours
Min.
£1
OFX
IMT Score: 88/100Best for 24/7 Support
Fees
Zero fees over £1,000
Speed
1-3 days
Min.
£100
XE
IMT Score: 87/100Best for Currency Coverage
Fees
No transfer fees
Speed
1-4 days
Min.
£1
Disclosure: We may receive compensation when you click on links to providers on this page. This does not affect our editorial independence or the ranking order. Our reviews are based on independent research and real customer feedback. Read our editorial policy.
5 Expert Tips for Sending Money to Nigeria
Practical advice from our editorial team, based on market data and feedback from thousands of users who have sent NGN.
Always confirm the recipient's bank details (account number, SWIFT code) before initiating the transfer
Compare at least 3 providers to find the best NGN exchange rate
For large transfers, ask your provider about bespoke rates -- margins typically narrow above GBP 5,000
Consider a forward contract if you need to transfer on a future date -- it locks in today's rate
Set up rate alerts so you are notified when GBP/NGN hits your target rate
Frequently Asked Questions: Sending Money to Nigeria
What is the cheapest way to send money from the UK to Nigeria?
Use an FCA-regulated specialist provider like Currencies Direct or Wise rather than a high-street bank. Specialists typically charge 0.1-0.6% exchange rate margin with no transfer fee, compared to 2.5-4% margin plus GBP 15-30 in fees at banks. The savings on a GBP 5,000 transfer are typically GBP 100-200.
How long does a money transfer from the UK to Nigeria take?
Transfer times vary by provider and method. Wise can often deliver within hours for popular currencies. Specialist providers typically take 1-2 business days via SWIFT. High-street banks take 3-5 business days.
What bank details do I need to send money to Nigeria?
You will need the recipient's full name (as it appears on their bank account), bank name, account number or IBAN, and the bank's SWIFT/BIC code. Some providers also require the recipient's address. Always double-check the details before sending -- errors can delay transfers by 5-10 business days.
Is there a tax on receiving money from the UK in Nigeria?
Tax rules vary by country. In most jurisdictions, receiving an international transfer is not taxed as income unless the funds represent earned income. However, large transfers may trigger anti-money laundering reporting requirements. Consult a local tax adviser for Nigeria-specific rules, particularly for property purchases or gifts.
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