701 thoughts on “How to send money from Nigeria to another country”

  1. It possible and practicable to send PayPal fund from Nigeria to another non PayPal bank account (oversea) ?

    1. Hi Ayinla, It is NOT possible and practicable sending money from Nigeria PayPal account to non PayPal bank account (oversea). However, You can buy or shop items online (oversea) via your Nigeria PayPal account.

      1. Hello Mr Emma Good Afternoon sir

        My name Is Ibrahim A Ahmad

        Pls can I operate my Nigeria Eco Bank Account in Cameroon

          1. Hi,i am from kenya and my friend tells me that sending money to me in kenya the bank only does the western union transaction between 8.00 am and 8.05 a.m is this true?and what other means can we use from nigeria to send money to kenya ?please help its urgent

          2. Hello Iilian,
            Did he say between 8.00 am and 8.05 a.m??? This is not true. He would have rather say that western union transfer is not working. For other means, please go through the comments.

          3. Helloo sir emma,, i just wanna know cause im here in taiwan, and i want to send money to my husband in nigeria.. and i did try western already but nigeria is not in the list country, how its happen???
            And if its not possible, can you please give me another way to send money… please give me feed back. Thank you.. heres my email leovilyn1929@gmail.com

    2. Good afternoon emma,
      I am an international student presently in the US. Due to recent restrictive CBN rules, it has been difficult for my father to send money to me. Please advise on the best option for him to send money monthly for amounts below $2,000 to a US student account. Thank you.

      1. Tobi,
        Bank Wire Transfer via Domiciliary Account will be the best option.

        Your father need to open two accounts; domiciliary dollar and Naira account here in Nigeria for this to possible. With domiciliary account , your father can send more than $2000 to your US student account monthly. Read through the comments here, you will see how it works. If after going through the comments and you still don’t understand let me know.
        Another better option would have been PayPal account.
        However, this will not work because you need to be the one to open the PayPal account here in Nigeria before traveling to any country outside Nigeria.

        1. Hello Emma, thanks for the reply. I still would like to confirm where you stated it “will not work because you need to be the one to open the PayPal account here in Nigeria before traveling to any country outside Nigeria”. I’m trying to send funds for an educational material in the UK, and i’m trying to cut down charges using the DOM account. I came upon your article which i find knowledgeable, i have to say thank you. What i’m keen on knowing is, is it possible to send money to a party in the Uk having a paypal account from my Nigeria paypal account?

          1. Hello Cornelius,
            I’m sorry in delay in my response to your question, I took a short break but I’m back to work.

            What do you mean by “a party in the UK”?

  2. I read your article because I am in the United States and have a customer that lives in Nigeria. He is telling us that the government there makes it very difficult for him to send money to the states. Just wondering if that is true or not?

    1. Hello Stacy, there are many options of sending money from Nigeria to United State. Possibly, your customer is NOT aware of these options. I will suggest you refer your customer to this article on how to send money from Nigeria to another country. Let him/her read the article and choose the best option that suit him/her.

  3. Please I want to send a large amount of money to canada but please is. There a. Way I can sendd In naira and the person receives the equivalent in Canadian dollar. Cos buying US dollars now is expensive. Would have prefer using my GTB Dom acct

  4. Someone from the U.S.A sent me a huge amount of money but I haven’t received it yet because the bank(Fidelity Bank) told me that I should pay a transfer fee of about $200(USD) before the money could be transferred to me. Now I want to know as to whether, should I send the money to the bank or not?

    1. How can Fidelity bank ask you to pay about $200 for money that is sent to you? Any money that is sent to you should reflect on your bank account. Don’t send money to anybody or “bank”. I don’t believe you are dealing with the right people.

  5. i have been trying to send money via western union and money gram since last week and it hasnt been successful up till now. All the banks kept saying they have exceeded their limit and there limit eachday is too small. am just fed up. is there any way out apart from using dom account or paypal cos the money is a bit huge.

    1. Hello Pat,
      No bank will exceed its daily transfer limit. I will suggest you transfer the money bit by bit since it is a huge sum of money. You can use Firstbank Western Union money transfer service.

  6. Someone is trying to send me money via First Bank Western Union or Money but he was told that there are restrictions and that Western Union is now restricted and limit on MoneyGram is $1000 in every 3 months. This is ridiculious and they requested tones of documents when the person wnated to use DOM account to send money, they said that it’s only available for students and can only be paid into a university account. Please help out, because they said it’s need stupid directive from the GO Slow Buhari government. Thanks.

    1. Hello Michael,
      this is actually TRUE. Use of First Bank Western Union Money Transfer service to transfer or send money abroad is temporary NOT available as of today. In fact no any other bank can transfer money abroad via Western Union Money Transfer. There is a temporary restriction in use of Western Union Money transfer service in transferring money abroad. To use MoneyGram is $1000 in every 3 months, this is CBN directive to Firstbank (Buhari government).
      However, GTBank DOM account is Not only for Student; it can be use to send money anywhere outside Nigeria but the only thing is that you need to open the Domiciliary account first with GTBank. HERE IS HOW TO OPEN GTBANK DOMICILIARY ACCOUNT. He can also try using PayPal account.

      1. Hello Emma,
        Thanks for your response. The problem is taht First Bank has restricted using of their DOM account too, I don’t know if that is true?
        The client that wanted to pay me also has a DOM Account with UBA and I don’t if they have restrictions too? Is GT-Bank the only option available that supports both everything including sending pocket money to the student personal account overseas? Please advise, thanks.

        1. UBA and GTBank Domiciliary Account support sending money abroad now. First Bank DOM account is temporary not allowed. For First bank, the only way now is to use MoneyGram.

  7. Hello There. I love this article BUT i have one question which is…..Is it possible for one to receive money sent through Money Gram and western Union if the person is having a bank account in that country?? I want to send to Ghana and its not that Huge. Lol

  8. Hello, good I landed on this page is I was searching for the means to send money to Philippine, I have tried Western Union and Moneygram to no avail.
    Please apart from Western Union, Moneygram, and DOM is there any other means online which one can use to transfer money to Philippine.


    1. Emeka,
      Firstbank MoneyGram will work. However, you can only be allow to send $1000 in every 3 month that is their transfer limit for now. Another way you can send the money to Philippine is through PayPal Account. Firstbank PayPal account used to be superb but currently it is temporary not available. So, try other PayPal account. Again, you can use your friend’s DOM account to do the money transfer.

  9. Pls what if excess money is transfered abroad to Ghana..would the balance be returned to sender or given to recipient..

  10. Greetings bro Emma,I am really glad u have enlightened us on the tips of sending money outside our beloved country Nigeria. Please these are my questions : Is the “Naija send“ with UBA ,First bank Moneygram or Western union still working? how much is the limited amount one can send?

    1. Hello Cletus,
      UBA Moneygram ‘Naija sends’ is still working. The limit amount you can send is $1000 in every 3 months (new Government).
      Firstbank Moneygram is still working. The limit amount you can send is $1000 in every 3 months (new Government).
      Firstbank Western Union Money transfer services is temporary NOT available.

      If you have more questions feel free to ask. I hope, it helps

  11. please, am in malaysia someone want to send money to me here i don’t have account here. what easier means can he use what is the estimated charges and if open account here with a bank would it still be possible and what is the estimated charges? God bless you for enlighten us in fact you deserved one carton of Gulder hahahah

    1. You need to open a bank account there if you want a faster result because some of the means of sending money outside Nigeria has been stop by the new government (to combat money laundering). One easy way he/she can send the money to you in Malaysia is through Firstbank MoneyGram and UBA Naija sends, provided he/she is NOT sending a huge sum of money to you. The transfer limit for this means is $1000 in every three months.
      Another means he/she can send the money to you is through Domiciliary account but he or she need to open a domiciliary account here in Nigeria. From his/her Domiciliary account, he/she can transfer the money to your account in Malaysia if you provide he/her your bank details. He/she can send large sum of money through this means.

  12. Hi EMMA,
    I need a solution, one of my customer wants to import readymade garments Fri Bangladesh , but he is telling that Nigerian bank does not allow to send money through wire transfer, is it right ? If it is right how Nigeria imports goods and make the payment?

    Pls advise the solution of import in to Nigeria and how to make payment.


    1. Hello Ismail,
      Central Bank of Nigeria(CBN) permits only wire transfers through domiciliary account. The Central Bank of Nigeria (CBN) said, according to the circular signed by Olakanmi Gbadamosi, director, trade and exchange department only wire transfers to and from domiciliary accounts are permissible.
      What this implies is that your customer need to open a Domiciliary account for him/her to make the payment of the goods via wire transfer. In other words, banks in Nigeria still allows you send money via wire transfer but this is possible ONLY through Domiciliary Account.

      As for the importation of Goods into Nigeria, payment of goods and services; I advice and suggest that every Merchant and business owners to have ONLINE PAYMENT SOLUTION. Your customer(s) should not find it difficult in accessing the online payment solution. It ease stress and reduces difficulties in sending out money.

      NB.The new government is bent on combating money laundering and seeing Naira Appreciate.

  13. I am trying to send money through bank wire transfer to the usa I am requested to obtain a form M number which I have to follow a very long process to do that before I could import goods to Nigeria is there any bank whose domicillary account still functioning?

  14. hi emma. My cousin need to send me money for his child hospitalization before. But he said it is hard to send money outside nigeria. He also said that his bank need my registration first and i need to pay that bank for the registration. Is it true that i have to send money to that bank first before he can send money to me? Tnx

    1. Dear Jiellene,
      *Sending out money outside Nigeria is not so hard as it is painted.
      *You DON’T need to pay, send money to his/her bank or do any registration first.
      *All you need to do is to provide him/her with the detail of your bank account he/she will paid in the money.
      * Firstbank western union transfer service is now available. so, he/she can use firstbank western union money transfer service to sent the money to you. He/she will be the one to bear all charges.

    1. Hello Joe,
      you can use your credit card for online payment(local and international) but using it to transfer money from your bank account here in Nigeria to another bank abroad is NOT possible as of now. Maybe, it will be possible later.

  15. I want to pay some money to a company in China for services I want them to render to me. It’s about 500 dollars. Is it possible? Am in Nigeria. Please tell me how I can do it. And which payment options is best. Thanks. Reply

    1. Ekene,
      You have to first inquire about the company’s payment option. The company could have a way of receiving an international payment for their services. They could possibly be receiving payment via online payment platform. If they don’t have any payment option, then using western union transfer will be a good option since the money is about 500 dollars . Paying them via western union transfer like using firstbank western union transfer should be based on trust that they will render the service.

  16. good mrn mr Emma. I appreciate ur good work here. I am a Forex trader and I want to fund my trading account. I have a Dom account with Gtb. Now I was told at the bank that I can’t make deposits into my Dom account. And that even if I do, They won’t be able to make the transfer because it is not an inflow. And this trading account can’t be funded through third party. It has to be through me. Pls bro, any way out of this? Thanks and God bless

    1. Hello Shola,

        Here are possible options I know might work

      1. Use of Credit or Debit card payment:Some Forex brokers accept card payments which can be Visa, Mastercard or any other acceptable card. Most banks in Nigeria now issue credit and debit cards supported by these global names, you can fund your Forex account with it. Confirm if your broker accept such method of payment.

      2. Bank wire transfer: GTBank may not easily allow you to deposit money into your DOM account (due to the current CBN guideline). But if you have an existing Gtb savings account or current account with money , write a letter of request to the GTB Manager authorizing them to send certain amount (amount you need for the forex trading) from your savings or current account to your DOM account. The transfer will be done within 30 minutes after authentication. Even if you don’t have savings or current account, open one and do this. Once, there is money in your DOM account; you are set! Go back to them and tell them you want to do bank wire transfer or just transfer to so..so..so account in so..so..so place. Play according to their rule. Your Forex broker should be able to provide his/her account details required for the transfer. This is just a work-around and I believe it will work fine if both currencies are the same.

      Warning: Be sure of your Forex broker, if this is your first attempt. How have you been funding this account if this is not your first attempt?

      3. Bank Deposit: this work for some brokers. You can confirm yours.

  17. Thanks for the reply. I actually fund through my dom account before this law came into play. I had new investors and I wanted to add their fund to the trading account that was when I fund out that there is a new law in town. I’ll try the procedure u suggested, I hope it works..

  18. Hello Mr. EMMA my name is Manjit & i want to transfer money from Nigeria to my account back home in India say $600 per month so i want to know how can i transfer this amount to India & what would be transcantion charges & what are charges for converting Naira to Dollar

    1. Hello Manjit,

      1. The best option to transfer the money to India is through Firstbank Western Union Money transfer service since you are just sending $600 per month.
      2. Usually the first Western Union transfer Standard charge/fees is approximately 16,500 naira for every $2000 (which comprise of a variable transaction fee, fixed VAT and Tax).
      3. There is no charge for converting Naira to Dollar. However, As of today, $1 = N199.05, It may be a bit high in black market. $1 fluctuate between N198 and N200.

  19. Hello
    I am trying to make payments for my goods to Poland,Turkey and UK, amounting to about $3500. I don’t have money in my Dom account and the banks are not collecting dollars… These companies don’t have online payment options…. What do I do?

    1. Hello Esther,
      if you have gone through the comments above you would have come across the answer I gave about a case similar to yours.

      Banks in Nigeria finds it difficult to accept dollar in this recent times due the current CBN Guideline but if you have an existing savings account or current account in that bank with money , write a letter of request to the Manager of the bank authorizing them to send certain amount(amount required for payment of the goods) from your savings or current account to your DOM account. The transfer will be done within 30 minutes after authentication. Even if you don’t have savings or current account, open one and do this. Once, there is money in your DOM account; you are set! Go back to them and tell them you want to do bank wire transfer or just transfer to so..so..so account in so..so..so place. Play according to their rules of the bank. This is just a work-around and I believe it will work fine.

      1. Hi Emma,

        Many thanks for your comments. I am in the process of searching for a way to send dollars to China from Nigeria and at the moment we have not been allowed to deposit cash into our Diamond DOM account. You have suggested that we write a letter to the bank requesting a transfer of funds to the DOM account. Does this only apply to GT Bank or will it also apply to Diamond Bank. We have DOM accounts for both but prefer Diamond Bank because the transfers can be done online and are a lot easier.

        Please advise.

        Many thanks

        1. Hello Rose,
          this works fine with GTBank and I believe it will work with any other Bank’s DOM account. If you are going to use your Diamond Bank DOM Account, ensure you have an existing savings account or current account with DIAMOND BANK and also money on the saving account or current before you start this work-around.
          Also, ensure you hide to their terms of money transfer.

  20. Dear Emma,
    Good morning please I want to be enlightened the more on this money transfer. My son in Fudan university China needs immediate assistance as his RP expires today, the immigration demand 100000rmp in his account. Please I want my daughter in Nigeria to remit to his account in China 10000dollars , could this be possible through first bank as an account holder ie one time remittance. Please advise.

    1. Hello Friday,
      transferring up to 10,000 dollars to CHINA at an instance through firstbank Western Union Money transfer will NOT be possible now due to the new CBN guideline. If you have had a domiciliary account, it could have been a better option. Though, you may not be able to transfer up to 10 000 dollars but at least close to that. I can’t believe that immigration will just demand 100000rmp in your son’s account just because his Permanent resident (PR) is expiring today. For sure, they should have been warning him for a long time now. I think you need to explain the situation of things to them and then transfer the possible amount to his account.

  21. Dear Emma,
    I’m really very grateful for your reply and advice, but it’s rather unfortunate that the Chinese immigration law of 100000rmp is against Nigerian’s only, students from other African countries aren’t affected. Though is rp has been extended by one month so as to make up his account statement. I have directed him to contact Nigeria embassy in Beijing for assistance while efforts to procure this amount for him is in progress even if it demand visiting Nigeria which is my last option.
    Not that I’m losing faith in our system but my prayer is that God should safe innocent Nigerian’s abroad from being victims of bad governance and image back home.

  22. This article has been helpful but it didn’t solve my problem fully. I can still transfer a 5000$ limit per day to China but the total accrued charge is around 250$ which is so unbearable to me. Will surely find a way out not giving up

    1. Hello please I need an urgent reply from you. How much does it cost to withdraw to Dubai Account? What were you required to submit to verify your dubai paypal account? Whats the process and how do you source paypay here in Nigeria?

  23. Joel,
    Please I’m desperately needed help here.
    Which bank or agency do you use for this transaction?
    Are they available in all state capitals in Nigeria?
    The interest charge is of no issue compared to travelling to Nigeria for 10k dollars as my last option.
    Please I will be very grateful for your guidance.
    God bless you.

  24. Respected sir,
    For business reasons my friend want to send to me approximately 5000 $ to my Indian Bank account… But now he asking to me I should pay that sending fee ? Is this right?
    Any other options to get money from Nigeria ?
    Please reply

    1. Hello Jhon,
      to send money from Nigeria to India, your friend have to pay for the transfer charge. However, rather than asking you to pay for this transfer charge which is what I felt he meant; I will suggest you ask him to deduct the transfer charges from the 5000$ depending on your business with him. I feel you will be on a safer side by asking him to do so.
      In terms of any other options of getting money from Nigeria; if you can list the ones you know then I can suggest others for you.

  25. Mr john you are in china or which country sire and do you have a bank account of your country of residence? Let me know your response sire

  26. Mr. Joel
    Good morning sir, sorry please I did not know you were referring to me. To your questions; yes I have bank account in contry of my residence, not in China but Qatar.
    Dear Emma, thanks for your observations as well.

  27. I’ve never tried Qatar before but I’ve use dubai and china. Send to your PayPal account then withdraw into your bank account there. You can send up to 5000$ daily limit. Every bank has their selling rate and there are also merchants who sell such services online.

  28. Hey Emma, I’ve been going through your blog and it seems interesting but I’ve a question to ask I’ve a friend studying in Dublin and he’s been sponsored by his parents unfortunately due to the current situation happening in Nigeria, it’s hard to send money to him for his tuition fee, accommodation and feeding, he met the college and explained to them they current situation and ask if his parents can pay in all the whole money for the tuition fee, accommodation and personal allowance money to the college account so they college can give him but to his surprise the college said no that they can only give him bank reference letter for tuition fee other than that there’s nothing they can do for him and they boy is required to pay for his accommodation fee annually which is up to €6000 and his stranded because they banks in Nigeria won’t transfer to his European account because it’s an individual account. Please is there any solution or any way they parents can transfer money to him. Thanks

    1. Hello Steve,
      option A. Use of Domiciliary account and Savings or current account.
      Step1. Your friend’s parent have to open 2 accounts; domiciliary and savings account in the same bank here in Nigeria, if they have not done so before. The Domiciliary account should be operated in Euros preferably or dollars. Either GTbank or Diamond banks is OK.
      Step2.Once these two accounts are active, they have to go back and deposit a naira equivalent of €6000 or more (as against bank charges) into the savings account.
      Step3. After the money had been confirmed deposited into the savings account, they have to go back again and write a request letter to the bank manager asking them to send the naira equivalent of €6000 or more from the savings account to the new domiciliary account.
      Step4.Once the money drop in the domiciliary account (bank authentication may take up 30 minutes); it is now time for them to transfer the €6000 to their son in Dublin.
      Step5.They have to go back finally and request for bank wire transfer via the domiciliary account to so so…. account in Dublin. The bank may not let them transfer all the €6000 at once, so they can do the transfer part by part. This is just a workaround that work like magic.
      Option B. Use of PayPal account
      You friend should open a PayPal account (Online)there in Dublin. His parent here in Nigeria will also open a verified PayPal account with either GTBank or Firstbank. Once, the two side sides of the account are active; your friend’s parent should follow the above protocol and send money from their PayPal account to their son’s PayPal account. Your friend can easily withdraw this money there by sending it to his bank account.

  29. Hello Emma pls I want to ask if as of today it is possible to send 2000$ to Ukraine from Nigeria using either First bank Western union or Moneygram ? Thnx

  30. Want to buy some goods from china,am traveling down myself to see the goods before payment,the volume of the payment is huge. I am restricted to withdraw only $300 per day with my ATM card down there in china or europe,can’t carry cash up to $10,000 when leaving Nigeria shore,can’t deposit money into dollar account(restricted for now).Even the bank Exchange Rate is no where to be found in Nigeria banks anymore accept black market.Tell me which best option I can used in achieving these transaction.

    1. Hello Anthony,
      Let me first correct an impression, you can still deposit money into your dollar account here in Nigeria. The only thing you can say is that you can’t deposit dollar into dollar account because banks in Nigeria are no longer accepting dollar. Now, how can one still deposit money into dollar account in Nigeria when Nigeria banks are no longer accepting dollar?
      My answer is still the work-around process which I have taught about in some comments here. Here is the work-around process: if you have a dollar account with Diamond bank, GTbank, Firstbank, Zenith bank or any other bank in Nigeria; open additional account either savings or current account in the same bank if you don’t have any already. First, deposit all the money you would want to deposit in your dollar account to your new savings or current account in Naira equivalent (find out the exchange rate from the bank). Once you’re done, go back to them and tell them you want to sell your naira currency to your dollar account. This involves writing a letter of request to the bank manager telling him/her to sell your naira currency to your dollar account. Authentication is done within 30 minutes and your dollar account will be credited. So, this is work-around process of depositing money into your dollar account.
      Now, since you’re going down to China to see the goods; the easiest way to pay for the goods there is via bank transfer payment instead of withdrawing $300 per day with ATM card.
      NB: for the bank currency exchange rate now; one dollar fluctuates between ₦198.99 to ₦200

  31. Hi I ask if this is true…my fiance wants to send money for me here in Abu Dhabi but he said I need first to pay here the documentary charges before I receive the money as he said im hoping that any one here answered my question thanks

    1. Hello Angan,
      There is NOTHING like documentary charges. You do NOT need to pay any money for your fiance to send money to you. As for the transfer charges, your finance should be the one to pay for that. If he is to send $10000 to you for example, let him deduct the transfer charges and send the remaining money to you.

      Invite your Fiance to read this post or send the link of this site to him to read.

  32. I found your article on money transfer from Nigeria through Google. My father says you can only transfer $1,000 in $500 increments and only every three months is this true? How can he transfer money to me in USA over $1,000?

    1. Hello Emenyi,
      your father is right in saying that only $1,000 can be transfer to you in every three months but the $500 increment is wrong. To transfer money to you in USA over $1,000; you and him need to open a PayPal Account or he can use wire transfer via Domiciliary account. However, he needs to open the Domiciliary account before this can work.
      If you need further clarification on this let me know.

      1. Hello
        I just saw your response. I’ve finally scroll through a lot of the comments
        1. so please explain the Dom account procedure. I am not familiar with this? I am very familiar with PayPal.
        2. if you can tell me what the maximum if you can transfer through PayPal?
        My father can not go on the computer which would require someone else to go on there for him. I believe he would be more comfortable with the dom account but how I am in USA now so how will that work?
        Thank you so much! God Bless you!

      2. please someone one to send money to me and then i need help what is the best way to get the money money gram or domicillary account without having problem what is the best way what is the way i need to follow please help out

  33. Hello
    I have been reading through all of these comments and I’m not sure of this information is up to date but as far as I can tell I would have to open a domiciliary account. if my dad opens a dom account in Nigeria how will I get the money in USA? I had posted another question saying that he was told he can only transfer 1000 every 3 months, I need a much higher amount right away. Is there some business bank account he can open that is easier? Also I don’t think he uses pay pal but I have a pay pal account. Thank you For your help.

  34. I’m John from Ghana ,I have a Ghanaian friend who is based in Nigeria now and wants to send money to me here in Ghana how does he go about it.Thank you

  35. Emma,
    Please do you know anybody that tried the work-around you posted about GTB before and that was successful? I have a Savings Account with GTB and a DOM but with this policy dollar cannot be deposited into my dom. How do i go about this letter to the manager and do you have a template. I need $37K in the US and don’t mind doing the wire transfer from my dom to my account in the states in batches. How can i get the naira in my savings account over to the DOM with the manager assistance? Can this be done online?

    1. Hello Oyewole,
      Let me start from your last question. This can’t be done online. You can only do this at any GTBANK Office. I have personally tried the work-around and it was successful.

      Here is a sample template request letter to GTbank manager to get the naira in your savings account over to your DOM account.

      No. 32 Oba street,
      Ogui Urban,
      9th October, 2015.

      The Manager,
      Guaranty Trust Bank,

        Request to Sell My Naira to USD

      I humbly request to sell my Naira from my savings account to a domiciliary account(YOUR DOM ACCOUNT NUMBER HERE)

      Amount to be sold: ₦500, 000


      Yours faithfully,
      Emma Onwuka.

      1. Emma,
        Please as a follow up to what Mr Oyewole asked. Are you saying that the request letter for the transfer from my Naira account to my Dollar Dom account to the manager, must be submitted to the manager personally? Meaning I have to travel down to Nigeria to give him the letter.. Please expecting your response soon, as I am in the same predicament as Mr Oyewole .. Thanks

        1. Hello Henry,
          if look closely to that letter, you will discover that your signature is needed. Your signature is needed for authentication of the transaction. This is money matter! No body can sign for you. If even there is somebody who can sign for you, sometimes you passport photograph or picture might be needed. It is not that you have to submit it personally to the bank manager, the marketing desk accepts the letter and treat it accordingly.

  36. Thanks Emma for this, I refer to one of your subscriber’s concern that his father might not be able to use a computer effectively enough to initiate a paypal transaction. My question is this: Would it be possible for him to create a Nigerian paypal account overseas while using the card and account details of his Nigerian bank account (assuming he has access to it online)? Would it then be possible for his father to transfer naira equivalent of what he needs for his upkeep and accommodation into his(son’s) Nigerian bank account, while he(son) uses paypal to pay himself on his other paypal(overseas) account? Please I hope this wasn’t too confusing in explanation.

    1. Hello James,
      It wouldn’t be possible to open Nigerian PayPal account oversea online. See how a Nigeria PayPal account will works…if the young man had early open Nigeria PayPal account before traveling oversea for his academic, his father can pay or deposit money into his PayPal account here in Nigeria while he easily receive and withdraw it oversea. That’s how it works.

      Meanwhile, I contacted the young man and he told me that his father goes by an alternative of mailing him a bank card.

  37. Okay Emma, I actually thought when creating a new paypal account, you have the option of selecting the country the owner is domiciled. In this case if he has access to his Nigerian bank account online he can use the Nigerian address and Nigerian card details for that Nigerian bank account to create a Nigeria paypal account.

    Assuming he already has a US bank account complete with US card and US address details linked to a US paypal account, he can send amounts from his newly registered Nigeria paypal account (Funded through the card of his Nigerian bank account – which his Father can easily pay into) to his US paypal account.

    The barrier for setting up a Nigerian paypal account is getting it verified, this can only be done if the person domiciled overseas can access an online portal of their Nigerian bank accounts and view bank statements that carry the verification code for paypal authentication.
    I might be wrong but I just thought it might work.
    Good to know he found a solution.

    1. Hello James,
      you are completely right here….”The barrier for setting up a Nigerian paypal account is getting it verified, this can only be done if the person domiciled overseas can access an online portal of their Nigerian bank accounts and view bank statements that carry the verification code for paypal authentication”.

      Thanks so much for your contributions.

      While he had found a solution, he still think of opening a Paypal account. I suggested to him to tell his father to open a verified PayPal account with firstbank in Nigeria because his father was expressing fears on opening account on PayPal website.

  38. Hi Emma,

    My husband is an expat working in Lagos Nigeria (he is Irish) and has always managed to get his salary transferred from his company to his bank in the UK. This month (at end of October) it appeared that suddenly he was not able to. Can you please help as to how he can get this money transferred over to UK, if there is any option as his company cannot seem to manage it.

    Kind regards

    1. Hello Ann,
      first of all, there is a NEED for your husband to open a personal savings and domiciliary account here in Nigeria as it is going to be difficult now for his company to transfer money from their company account to his personal account in UK. This is due to the recent CBN guideline on outbound money transfer services. Once, your your husband open a personal saving and domiciliary account here in Nigeria possibly at Diamond bank or GTbank, let his company pay into his personal saving account. Once, he is paid every month, he will moves the money from his savings account to his domiciliary account. From his domiciliary account, he sends it to his UK personal account via wire transfer. Bear in mind that he might incur some transfer charges.

  39. Im in the U.S and my sister is in ph, which is the fastest and easiest way for her to send me money and does moneygram require any form of identification for the sender or require the sender to have a bank account at the branch. Also like to know if anyone is experiencing any issues with moneygram and how much they charge to send money.

    1. MoneyGram is Western Union’s biggest rival when it comes to international money transfer. Western Union is as fast as MoneyGram. What determines how fast money will be delivered in both cases will be;
      1. how the money is paid; in cash or via bank wire transfer,
      2. where it is been sent from and
      3. where it is been delivered to. MoneyGram just like Western Union requires sender’s identification as well as receiver’s identification. The sender does not need to have a bank account at any branch for him/her to be able send money through MoneyGram or Western Union. In Nigeria ( if your ph means Port Harcourt) , Firstbank and UBA are good agents of both MoneyGram and Western Union; their transfer limit and charges are at a flat rate according to government regulations. As of today, the transfer limit for both MoneyGram and Western Union is ONE HUNDRED AND NINETY THOUSAND NAIRA (this is equivalent to $1000) while the transfer fees is SIXTEEN THOUSAND EIGHT HUNDRED NAIRA. There is No issue with MoneyGram as of today

      For you who is US, MoneyGram charges at a flat rate of $11.50 for transferring $50 to $900 within United States, and 2% for amounts over $900.

      If your ph means Philadelphia, lets say your sister want to send $500 to you in US from Philadelphia. If she is to pay cash at a Western Union agent, and you are to it up in cash, it will costs her about $28 for three-day service, and about $40 for immediate delivery. The same transaction costs $5 if it is via bank wire transfer, or about $25 if a credit or debit card is used to pay money into your bank account.

  40. Hello Emma
    I had sent a previous message inquiring about transferring money. Update: My father sent me a First Bank MasterCard now I’m confused because he says the daily limit to withdraw is $300 and he said that they will deduct $100 on top of that. When I called first bank they said that the fee was 420 Niara. So now I am confused whether I should withdraw 300 every day to get the amount I need or I should attempt to do PayPal. My father said that he did not want to do PayPal because he doesn’t trust the website money transfer. So which option do you think I should choose and do you think that it is true that they will also charge you extra $100 for every 300 you withdraw.

    1. Hello Lola,
      your update is quite appreciated. If you are withdrawing money outside Nigeria with Nigeria bank debt/credit card, the daily withdraw limit is $300 and bank fee is N420 Naira as firstbank rightly inform you.

      The problem you will have opening PayPal account now is that it will warrant your father to also open PayPal account, for everything to work fine. However, your father has express his fears….”he doesn’t trust the website money transfer” and you can choose to do otherwise; if your father says, NO!

      Meanwhile, You can let your father know that he can open PayPal account in Nigeria through Firstbank and not on PayPal website. So, in this case Firstbank overseas the transaction.

  41. Hi Emma,
    We are amazed your answers and respond to each queries…. We are greatfull to you.
    GT Bank and First bank when we enquire they say how you will fund your DOM account, they also say that from local Naira account it is not possible to transfer to DOM A/C, where you say it is possible.
    Please clarify,
    Regards, Williams

    1. Hello Williams,
      When you visit the bank (GTbank precisely), Do NOT tell them that you want to transfer from your Naira account to DOM account; if you tell them that, their usual response is; it’s not possible. Many of them that work in bank don’t even know that it works. Rather when you visit the bank, head straight to the marketing desk and tell them that you want to sell your Naira to dollar account.

      1. Hello Emma,

        Great reading this site – good job you’re doing. In the same situation as Williams. Have been struggling with this for months. Decided to actually travel to Nigeria to deal with it personally. I was given exactly the same response as Williams at the counter. I’ve just returned to the UK with no solution. Didn’t know the wording of the request would make such big difference. I mean saying ‘sell’ rather than ‘transfer’. Well, now that I’m back in the UK what do you suggest I do to be able to have access to the money in my Naira account. I’m hoping that I now understand you correctly having read the thread. My Dom a/c comprise three accounts: Naira a/c, dolled a/c and Pound a/c. So you are saying it’s possible to write a letter addressed to the manager requesting to sell the Naira in my Naira a/c into my pounds a/c? Would sending a letter in the post work? If not i guess my only option would be the western Union or PayPal according to this thread. Any advice? Thanks.

        1. Hello Tonia,
          Domiciliary Account is an account operated in currencies other than Naira. How then do you tell me that your Domiciliary comprises of three accounts of which Naira Account is among them. The three major foreign currencies you can operate on any Domiciliary account are; Pounds, Euros and Dollars. Check you DOM A/c very well to see the currencies you operate on your DOM account. If you don’t know, you can find it out from your bank.
          As for writing the letter and sending it through post, it will not work because the letter is usually handwritten and you have to sign it.
          Western Union, PayPal and MoneyGram are options.
          Remember, you can withdraw money from your Naira Account in UK from ATM using Your Nigeria bank’s Mastercard.

  42. Hi, I am Indian resident and recently got a job in Nigeria. My salary is paid in Naira and I was not even aware that the outbound money transfer is totally stopped from Nigeria.
    I have my responsibilities there in India like my children education, House living maintenance, my Homes loans etc. How can I manage that. I have recently opened one current account and domiciliary account with some bank here in lagos, NG.

    Kindly help

    1. Hello Ravi,
      Outbound money transfer has NOT stop in Nigeria. You can still send money from Nigeria to India, your home country. The few things that have changed are the transfer limit (amount you can send or transfer), transfer charges, routes of the transfer and most drastic change is banks not accepting dollar deposit into Domiciliary account.

      If you had gone through the comments, you would have discover the work-around process or method of sending money from Nigeria to another country which I had earlier suggested to those that operate domiciliary account with either savings or current account. So, I advise you go through the comments and fish-out this work-around process. Use it to transfer the money to India. However, if you are not able to sought it out; let me know and I will re-write it again in details.

      I also suggested use of PayPal account. In reply to some of the comments, I did mention that you can open a verified PayPal Account with some Nigeria banks(Firstbank & GTBank) and with this account, you can send money to India. If you want to know how this works, you can also sought it out from the comments but if you can’t; let me know. I will also do well to re-write this too in details.

      I know this will NOT be good option for you because of their transfer limits and charges. However, they are still means of sending money from Nigeria to another country. You can also sought out how this work from the comments but if you can’t; let me know and I will do well also to re-write this too.

  43. Hi Emma,

    First of all, you are wonderful and you really have a niche online…

    My partner and I have student loans in the UK and are wondering if you can summarize as a way of comparing for us 2 items:
    the exchange rate, fees for using these two options:

    use paypal to transfer maximum allowed from lagos(naira) to uk(pounds)

    to use the cheapest bank, assuming i’m not a customer of the bank.

    Which banks offer the option to sell naira to dollar instantly?

    Do we benefit from instant bank exchange rates when we use paypal? What about when we use our bank?

    Thanks again, I’m a fan!

    1. Hello Memoi,
      Your compliments are appreciated!


      With PayPal account, you can send up $5000 per transaction to UK but the transfer fee or charge may be excessively high for you. $5000 may incur up to $250 as a transfer fee. All money conversion (naira to pounds, dollars or Euros) is better done at the time you want to send out money.

      The major outbound money transfer options through Banks in Nigeria are MoneyGram, Western Union money, and bank wire transfer via domiciliary account.


      MoneyGram and Western Union money transfer Limits and charges are at a fixed rate irrespective of where the money is being sent to. The Government fixed the transfer limit rate to discourage money laundering and this transfer limits rate for both MoneyGram and Western Union is $1000 in every 3 months (equivalent to ONE HUNDRED AND NINETY THOUSAND NAIRA i.e. N190,000 while the transfer fee is SIXTEEN THOUSAND EIGHT HUNDRED NAIRA

      Firstbank of Nigeria Plc and UBA offer both MoneyGram and Western Union money transfer services. Other bank like Fidelity bank offers MoneyGram service.

      You DON’T need to be a customer or have an account with them to be able to use these services.


      With domiciliary account, you can send out any amount you want to UK or anywhere around the world and the charges or fees depends on the amount you’re sending out however it is no longer possible to deposit foreign currency into domiciliary account in Nigeria. In my earlier responses to comments, I gave a work-around process or method of depositing money into domiciliary account and sending the money from Nigeria to another country. That was for those who operate domiciliary account with either savings or current account in the same bank. So, you can go through the comments and fish-out this work-around process. If you can’t, let me know.


      With GTbank, you can sell your naira to dollar (i.e. to dollar domiciliary account) however you have to put up an application for this. Authentication is within 30 minutes. This is the bank that have work for me.


      If you use your bank, you will enjoy bank exchange rate

  44. Hi, I want to transfer $2000 to someone in China using western union. I will transfer $1000 while a friend will transfer $1000 to the same person. I want to know if this might be a problem as I was told the money might be seized if money is transferred to the same person in china. Thanks

  45. Weldone Mr Emma.. pls i want to know what the charge will be to send less than a $1000 to the US and UK through Western union as well as Money gram. Thanks

  46. Please ,I want send money to my brother who is in U.S.A from Nigeria but western union in Nigeria said that they can’t send temporary now. Please how can I do it cos he need the money for school.

  47. Contacted all the bank but they said that temporary they are not sending money outside Nigeria through Western Union. will try money gram.

    1. Hello Ken,
      As of today, You can still send money outside Nigeria via Firstbank Western Union. There has Never been anything as temporary suspension in the use of Firstbank Western Union transfer service. Also, Firstbank MoneyGram and UBA MoneyGram are also still working perfectly. For MONEYGRAM, the transfer charge is fourteen thousand, four hundred naira (N14,400) and maximum transfer is one hundred and ninety eight thousand naira or the equivalent dollar amount ($1000). For WESTERN UNION, the transfer charge is sixteen thousand, eight hundred naira (N16,800) and the maximum transfer is one hundred and ninety eight thousand naira or the equivalent dollar amount ($1000).

  48. Dear Emma,

    I need help to send about $8600 to China for parts for my equipments. I tried through TD Bank in the US, but the HSBC in Hong Kong returned the money to the US without informing the recipients in China. Can I transfer the money to my account in Nigeria now, and then wire to China? I’m in a crisis, please help!

    1. Hello Akin,
      If you have a domiciliary account here in Nigeria, return the money to your domiciliary account in Nigeria and then wire it to China. Remember, you will incur some transfer charge.

  49. Good day, I want to know if I transferred $1000 through western union, will it be possible to send another $1000 through money gram making total $2000, or is the $1000 limit the total for the quarter irrespective of the transfer medium?

    1. Hello Emmanuel,
      Yes, it is possible. You can send $1000 through western union and another $1000 through MoneyGram making a total of $2000. However, I will suggest you do that in 2 different banks.

      1. By two banks, please do you mean different branches of the same bank because only first bank does outbound both for western union and money gram as I have tried other banks.

        1. I DO NOT mean different branches of the same bank. It is NOT ONLY Firstbank that does outbound money transfer. UBA does outbound money transfer through their “Naijasend” MoneyGram. So, a good combination for this purpose is firstbank western union and UBA MoneyGram. Fidelity bank also offer MoneyGram service.

  50. Thank you Emma for the educative post. I am not quite clear on a subject. If a large sum of money is sent to me while I am in the US through paypal, how do I get access to it? Does that mean I have to withdraw a maximum of $300 daily to handle the cash form?

    1. Hello Michelle,
      Your question is NOT quite clear to me but I guess you’re asking how you’ll withdraw the money sent to you in US through PayPal. Anybody sending money to you in US through PayPal will of course send it your US PayPal account which you can easily transfer to your personal bank account. If you want to withdraw this money in US (depending on your personal bank account) using Nigeria bank ATM debt card, the maximum daily withdrawal Limit is $300 with about $2 access charge.
      Please, if I didn’t answer your question, feel free to reframe and ask again

  51. I have an account with PayPal linked to a bank in Nigeria. If I travel outside the country can I link same PayPal account opened in Nigeria with other banks in another country and transfer money from my PayPal account to the bank.

  52. Thanks Emma for your useful guidance. I am not sure if you can instruct your bank to transfer naira from your current or savings account into your domiciliary account. How is that possible?. At what exchange rate will the bank use for the conversion?.

    If that is truly possible, then there is no issue for transferring money abroad. The conventional way we use to do before was to get Dollars from Black market / parallel market, deposit into your Dom account, and then finally use wire transfer to your desired account overseas. But with new CBN policy that you cannot deposit forex (USD, GBP, EUR etc.) into your Dom account, its been a serious challenge for people like me that I need to remit some funds monthly to my family abroad. Pls I need guidance from you as to what is obtainable today based on current CBN policy

    1. Hello Oladoyin,
      To transfer naira from your current or savings account into your domiciliary account is NOT possible but to instruct your bank to sell your naira (money in your saving or current account) to dollar is Possible. The problem is that not every body who want to send money abroad operate domiciliary account. Again, when you meet the wrong people at your bank; the answer you will always receive from them is that it is not possible to deposit money into domiciliary account.

  53. Thanks Emma for taking time out to answer all the questions.
    Am currently out of the country and I have been able to sustain my family and the little things I came to do here with the daily $300 withdrawal limit, but now my bank says I can only get $1000 a month on pos/atm/online transfer.
    How true is that please? Because am already out of the 1000 limit for Dec and I honestly don’t know what to do as I don’t have a domiciliary account.
    Any suggestion on what to do please?
    I have just my naira master card with me.
    The Bank is Keystone bank.

    1. The rule has not change. It is still $300 daily withdraw limit outside Nigeria. Call your bank, find out why they have to change to $1000/month on POS/ATM/online transfer. Explain to them your predicament. If you want me to do that for you, I can.
      Had it been that you open a PayPal account with any Nigerian bank that would have been another option.

  54. I am from pakistan i have a customer in niegeria he want to send some payment for to buy some goods he is telling me from last week that international transaction are tottaly off even western union and money gram also stopped to international transaction please guide me.

    1. Hello Hussain,
      Western Union and moneyGram are still working perfectly. The only thing that have change is the amount he can send to you through them. You can invite him to read this post and the comments, where he is confuse; I am ready to clear him.

  55. hello Emma,
    Am currently in the Philippines and having issues receiving money for my tuition and all that. can my parents use the western union in first bank to send me money? and today i received a mail saying from first of January there will be no use of ATM cards outside of Nigeria does that also include western union? how do i get the paypal account so ill let my parents know which option is better because i am really stranded here. thanks for all your response so far.

    1. Hello Irene,
      Your parent can use western union money transfer to send money to you but they can only send $1000 in every three months. They can also use moneyGram to send money to you at the same $1000 in every three months.

      The use of Naira debt and credit card outside Nigeria which was ban by the central bank of Nigeria (CBN) on Monday WILL NOT affect this however, YOU CAN NO LONGER USE YOUR NAIRA DEBT CARD TO WITHDRAW THE MONEY SENT TO YOU; THAT IS THE IMPLICATION OF THIS.

      To get or open a PayPal account link to your Nigeria bank in which your parent can pay in money for you , you need to be in Nigeria to do this. See how to open verified PayPal account with GTbank

  56. Hello Emma

    I find your insight refreshing. Thanks for taking the time to do this.

    I took your advise re: contacting GTB to sell Naira into my Dom acct with them. I live abroad and so can’t go into a branch but the agent I spoke to on the phone said they dont don’t convert Naira to dollars under any circumstance.

    Do you per chance have a contact in GTB who knows this process you mentioned.

    And incase GTB’s a no no. I would like to know more about PayPal fees for transaction

    Thank you for time


    1. Hello Oyinda,
      I’m very sorry in delay in my response to your comment, I took a short break but I’m back to work.

      YES, It is now difficult. In fact, it is now practically impossible for any bank to sell naira to USD but selling USD to naira is still working perfectly.

      As for PayPal fees, transferring up $5000 can attract up to $250 transfer charge depending on where the money is being transfer to.

      1. Hello Emma

        Just saw your reply. Had thought the thread was abandoned. Thank you. I had used money gram for the last little bit but even that is Inaccessible now.

        I am now looking at the PayPal option. Hope it proves viable.

        Anyway I can support what you do here? Cos it sure is a needed service.

        1. Hello Oyinda,
          Thank you such much for your concern on supporting the services we render here. That’s speaks good of you. I will reach you via your email address.

          Right now, Western Union and MoneyGram are temporarily not accessible. As I inquired two weeks ago, firstbank of Nigeria will start outbound money transfer services (Western union and MoneyGram) before the ending of this month, March. I pray they do as they said.

          PayPal may be a good option. You can also try opening a domiciliary account.

          1. Hello Emma

            I look forward to hearing from you. Called First Bank just now. they said they now have outbound Moneygram transfer but wouldn’t specify the rate. my problem is I cant work with the black market rate for my business.
            Looked into RIA but that’s closed down also.
            Anyway, maybe you can shed some more light on way forward when we talk.

          2. Hello Oyinda,
            I will never advise any business man to go by black market in sourcing for foreign currency . However, I do not know the nature of your own business; if your business is based in Nigeria and it involves importation then you are bound to rely on black market for foreign currency. The Government does not encourage importation in anyway.

            Domiciliary account is working perfectly but the issue is how do one fund it in Nigeria. For optimal use of domiciliary account, you will rather need inflow than outflow.

            Firstbank promised me that their western union and moneygram transfer services will definitely work this month, I believe they are putting every thing in place for that.

            PayPal is another good option one may try at a time like this.

            Some form of Nigeria Online bureau de change are coming up to ameliorate the situation. However, you know that the issue of money is a delicate one and bad people are always ready to take undue advantage.
            We will talk more via the email.

  57. Hi, pls I need to pay for several postgraduate registrations(abroad). I’ve tried all my debit cards(using the online transaction option)but it hasn’t gone tru..I just need to pay about £100. I’m thinking of trying the money gram or western union thing.
    Pls what’s your advice on this..if I’m to go for western union,how much will I be charged for £100.

  58. Hello Emma, I based in Dubai, I heard yesterday that western union money transfer has been on hold in Nigeria as of now… Well, I planning on receiving money through WU here next week and its the only option I got right now… So I wanna know how genuine is the information I got about this WU… If its really true or not…

    1. Hello Bamidele,
      I’m very sorry in delay in my response to your request, I took a short break but i’m fully back to work.

      Western union money is NOT on hold, it is still working perfectly.

  59. please ,i want to pay for training course in italy about 10000 euro ,kindly advise the best possible options as i don’t have dom account…

  60. Hello Emma,
    Am a prospective student in one of south african universities. For the past 2 years I’v had problems paying everything that needs to be paid in SA including school fees and medical aid fees. I remembered paying 17k as charges for R600 application fees then at Stanbic bank which i believed was a subsidiary of Standard bank in SA, after opening their DOM account with 100USD. Moreso, i was the one looking around the streets for the exchanges from naira to rand and vice versa. It still haunts me till now! Presently i need to make payments again for medical bills and school fees, please how clean can I go about this without incurring another mouth-watering charges? I have both current and savings account with gtb.

    1. So sorry not to have respond to your comment very fast, Felix. I took a break but I’m back to work.

      You need to open a domiciliary account with Gtbank in addition to those account you mentioned.

  61. Hey Emma. Thank you for the post.
    Could you clarify if one can use ATM cards in the US in January? I’ve been hearing that withdrawals would be banned as of the 1st.
    Also, Is it possible to change naira to dollar in Nigeria at this point and have someone that is travelling bring it into the US? It has become very cumbersome trying to transfer money to the US and the fees are ridiculous.
    Thank you

    1. Hello Ereoluwa,
      Sorry not to have respond to your questions very fast, I took a break but I’m back to work.

      Yes, CBN ban the use of ATM Debt/credit cards outside Nigeria starting from January,1st 2015; this came up as result of Deposit money bank issue(DMB).

      Yes, it is possible to change naira to dollar in Nigeria at this point moreover, If the money is a huge sum, getting it into US might be difficult.

  62. Emma, you’ve been so helpful.
    My husband in nigeria needs to send 800000naira to me in canada. I have an account here in canada. The challenge is, if he decides to write to his GTbank manager that he needs to trade his naira to his USD Domiciliary account, it might cost him so much because after using his mastercard online for payment, the exchange rate bank used was 280naira to 1 dollar. Likewise access bank used same in deducting money from his mastercard. What best option is available for him to transfer the money to me. Funny enough the Nigerian here that wants to take naira in-exchange want to sell 1 canada dollar for 200naira. Which means i’ll only get 4000CAD for that 800000 naira. Please, advice accordingly.

    1. Hello Chichi,
      I’m very sorry not to have respond to your comment very fast, I took a break but I’m back to work.

      It will not cost him anything to write GTbank manager that he needs to sell his naira to USD Dom account. For the online transaction that he made, he was charge based on that it has nothing to do with transferring of money to Canada, however that exchange rate is so high. I guess it is not bank payment or transaction that is related to bank because that is black market exchange rate

      1. Thank you so very much. But the amount that he was charge was by the bank itself. He used his card to pay the usual UK visa fee and that was what the bank deducted. He just went to GTBank today but they said he couldn’t do such. And he said some banks have stopped the western union transfer for non account holders. Please, could you confirm that 1st bank still does western union and UBA for money gram? Please, If he’s to transfer like the equivalent of 1000USD in Canadian dollars through western union and money gram, what will be the cost in naira for each transaction? Maybe he could do that if possible and have someone else to do same as well.
        I appreciate your swift response. Thank you.

        1. Hello Chichi
          You’re welcome.

          Firstbank still do Western union and UBA still do MoneyGram. If he is to transfer 1000USD, that’s about one hundred and ninety thousand naira (N190,000). For the Firstbank Western Union, the transfer charge is about sixteen thousand, eight hundred naira (N16,800). So, the total is about two hundred and six thousand, eight hundred naira (N206,800). For the MoneyGram, the transfer charge is about fourteen thousand, four hundred naira (N14,400). So, the total is about two hundred and four thousand, four hundred naira (N204,400).

          As for writing to GTBANK manager to sell naira in savings account to dollar domiciliary account, restriction has been placed on it however, you can still sell dollar in domiciliary account to naira savings account or current account.

          My own request; how can you support the work I’m doing here.

  63. Please help me work this out as the current CBN rules as well as the current exchange rate is getting me confused. If I want to send $400 to Singapore via Firstbank Western Union, what is the equivalent I would pay in naira, including transfer fee? Thanks.

        1. Your question is “If I want to send $400 to Singapore via Firstbank Western Union, what is the equivalent I would pay in naira, including transfer fee?”
          Answer: You will pay between N85, 520 – N86,680

  64. Hi Emma,

    Is the 300 withdraw limit only applicable if the money is being withdrawn outside of Nigeria? Meaning, if you are IN Nigeria, you may withdraw more daily? Also, is it 300USD or 300Naira?

    I’ve read through several comments and your responses. I would like clarification on a few things:

    Sending money via Paypal from Nigeria to the US is best for amounts under 1000 USD? Does sending money via Paypal or any other means count towards your 300 daily withdrawal limit?

    Thank you! By the way you are doing a phenomenal job here responding to comments and providing information. Thank you for taking out of your time to do this. God bless you!

    1. Hello Tolu,
      I’m sorry not to have respond to your comment, I took a break but I’m back to work.

      The $300 (not 300naira) withdraw limit is only applicable if the money is being withdrawn outside of Nigeria. However, the CBN has ban the use of ATM debt/credit card outside Nigeria (starting from January 2015). So, no more withdrawal of money outside Nigeria with Naira debt or credit card.

      Sending money via Paypal from Nigeria to the US is best for amounts under 1000 USD? NO!

  65. am inquiring on behalf of my friend who is an expat in Nigeria trying to send money to India . Have an account with first bank and standard chartered bank.

    I want to know if he tries with western union then will there be any loss due to currency conversion .
    amount will be around USD 8000
    salary will be in Naira currency .

    Hope to hear from you asap . its lil’ urgent .

    1. Hello Nili,
      there is nothing like loss due to currency conversion. He/she will only paid for the transfer charge. With western union money, he/she can only transfer $1000 in every 3months,

  66. Hi..I’ll be going to UK soon for my undergraduate studies and I’d like to ask..what is the best way for my parents to send money to me and how do I go about it. They are already being skeptical about sending me over there simply because of the problem so many parents are facing with sending money to their children. Please I need your advice. Thanks

    1. Hello Damilola,
      Many Nigerians who are outside the country for their undergraduate and postgraduate studies are facing hard time right now due the current CENTRAL BANK OF NIGERIA regulation on outbound money transfer and withdraw of money outside the country with use of ATM debt/credit cards. So, your parent skepticism are normal.

      If you must go to UK for your undergraduate studies, I advice you open a verified Nigeria PayPal account before you travel to UK. Once you get to UK, link the PayPal account to a local bank in UK accepting PayPal account so that your parent can be sending you money through your verified Nigeria PayPal Account.

      You can also open a domiciliary account here in Nigeria before you travel in addition to that. Things can change for better tomorrow.


      1. Hi Emma, Happy new year and thank you so much for the time and resources you have invested in helping us. I will sure share this link with my friends here at school.
        Presently I am still in Uganda, my Dad has exhausted his money gram options. Reading through your replies, I am going to open a PayPal Account here. I am hoping it will be possible for my brother to send me cash via this means.
        And will he be restricted say if he is sending 3000 USD?
        Also if I open a Domicilliary Account in Nigeria, will I be able to withdraw from it abroad..?
        Thanks once again.

        1. Hello Essien,
          No, It will NOT be possible. You need to open a verified PayPal account in Nigeria and link it to a local bank in Uganda that accept Paypal account. It is through this verified PayPal account that your brother will send money to you.

          As of now, there is no need opening a domiciliary account in Nigeria since it will not be possible to pay in money into it in Nigeria as a result of CBN restriction.

  67. Hi, Emma.
    Thanks for educative post and enlighten peoples.Pls, I want u to explain how to transfer fund that is more than $5k from UK bank to Nigerian bank ,I mean steps to take . To avoid enberrassment from Efcc. pls reply through my email. Thanks.

  68. Hi, im a stranded student, a citizen of the federal republic of Nigeria being screwed really hard by a government that never contributed a single penny to my life. Now ive been in the philippines for 2 years on my own jeje, and i need to get money from Nigeria to phillipines. Pls what is the most cost effective way to do that, Considering that GTB chargess a neck killingamount of 270 naiira on the ATM. Ive read earlier you suggesting the paypal options. How can i do the paypal style. And how do my people fund it in nigeria so i can withdraw it here?. Thank you.

    1. Hello Mayour,
      you might even be surprise to hear very soon if you’ve not that use of ATM Naira debt or credit card outside Nigeria has been banned.

      Go through my earlier comments again, you will see how PayPal account works. If you don’t get it, let me know.

  69. Secondly, i heard some people talking about FORM A, blbla does that one even work. and what banks provide it without hassles. Coz i need to pay my tution.

      1. Mr Emma, my dad wants to send me 330000 naira to Ghana through access bank. please how much will the money be in cedis and what will be the charges .

        1. Hello Dorcas,
          the exchange rate for Cedis to naira as of today is 1 Ghanaian Cedi equals
          51.92 Nigerian Naira (1 cedis = 51.92 naira). Having answered the second part of your question, you can do the calculations yourself.

  70. Mr Emma, please my dad wants to send me 330000naira through access bank money gram will that be possible? please how much will the money be in cedis and what is the charge fee that will be deducted from the money. thank you.

    1. Hello Dorcas,
      Your dad can only send about about one hundred and ninety thousand naira (190,000naira) to you through access bank moneygram. I suggest you ask him to use western union to complete the transfer of the remaining one hundred and four thousand naira (140,000naira). Transfer charge for moneygram is about 14400naira for that amount and the transfer charge for western union is about 16800naira for that amount.

  71. Hello!
    How do i receive over €5000 from Nigeria in Ireland. I have a paypal account here but not in nigeria and can my husband send me such amount through PayPal cos obviously western union cant do that. If not. How best do i revieve the money here please. Thanks

    1. Hello Joke,
      The €5000 you are talking about, is it inflow or outflow and which account (Domiciliary, current or savings) is it in, in Nigeria . Answering these questions will assist me in giving you a better suggestions on how to receive the money in Ireland.

  72. Yes, actually the issue is , Im presently in the phillipines already, so im wondering how im to go about the paypal thing. The comment i read earlier revealed peopl who are yet to travel, , But in my case , im already out of the country. So, how do i advise my sponsors to go about it. And the paypal, alternative, is it like,..one can put in money and i can withdraw it on the go like an ATM. If possible, can u please just send your phone number to my email. tonniedure@gmail.com. So i call you, and get full info. Thanks.

  73. please am seriously in need of anyone whose has up to 100 Euro in Euro account to pay for an application fee. I hope to pay cash in naira while you help me pay in Euro

    1. As a matter of fact, we are starting this on February (next month) if the situation remain the same to assist Nigerians who wish to make an online payment, those who wish to pay for tuition, training, VISA, PRP, TRP etc outside Nigeria

  74. hi emeka..i am a student currently studying in canada… my parents are trying to send me my tuition but as of now i was told there is no dollar in naira we wanted to use wire transfer of recent but is there anyway i could receive this money into my bank account? or can i use my mums debit card to make the payment for my tuition here in canada?

      1. Hello Irene.
        Who told you that there is no dollar in Nigeria. There is dollar in Nigeria but the exchange rate is high for the black market because of its artificial scarcity.

      1. she does wire transfer thru diamond bank… but as of friday the bank said they dont have any dollars available …is money gram still effective? i think she wants to try that option..or does CBN have a policy about that one now? do you know how long it will take for me to get the money thru moneygram if she sends it on monday? please i would appreciate if i got a fast reply..God bless.

          1. yes it is but i pay installmentally…and im looking at getting 1611cad from her…so i called moneygram here in canada and they adviseed that she shuld send 971usd and have someone else send the remaining 271usd to me …so now im wondering how will i receive the money is it thru my bank or thru moneygram here in canada and do u have an idea of how many days it may take

          2. Ok, thats fine.Within 7 working days depending….. It can be less than that 2, 3, 4 days or so. However, if it stays up to 14 workings days and you didn’t receive it, please call MoneyGram.

  75. HI bros. Please we used to import goods from spain or ghana. And we want to transfer 12million to this company . Please how can we make a transfer done for this amount.

    1. This is a huge sum. Does it mean that those companies do not have an online payment platform? Again, can’t you transfer this money bit by bit? Ok, if you must transfer all at the same time, CBN says go through Form M. My brother, this is full of difficulties, time consuming and hassles. You can try that out.

  76. I hope this new CBN policy will not run people mad now. To make tuition fee payment to South Africa with Form A, my bank (GTB) told me its going to take nothing less than 2 months because they still have backlog of 2015. On the other hand, over two branches of Stanbic IBTC confidently told me its going to take maximum of 72 hours. I’m now confused with Stanbic’s claim because I dont understand how they do their own within that short time while it’s not so for other banks, moreso they all route it to CBN. I have 25th of January deadline to meet for payment and still here confused.

  77. HELLO SIR,


  78. Good morning. Please i would like to know the branch of first bank that does either western union or money gram transfer. The ones I have gone to say they don’t do it. Thanks for the good work

  79. Hello sir,
    i am schooling here in china and i have to pay my school fees and accomodation fees before the end of this week which is almost $8,000, since western union and moneygram has the limitation of sending only $1000 per three months, can my father send me $1,000 through western union and another $1,000 through moneygram the same time or day? and also have another three of his friends also send me each $1,000 through both western union and moneygram also the same time the same day as my father? so that i can receive all the money the same day here in china? do you think that is possible and is risk-free?
    and please also do you know anything about ria money transfer and how to go about it?

    thank you very much for the good work and God bless you!

    1. Hello Odan,
      Yes, it is possible through that means. It is risk-free. However, I suggest that your father use two different banks for this purpose (Firstbank Western Union and UBA MoneyGram). The three of his friends can transfer their money through any bank. In terms of receiving the same day; it likely may not be possible depending on the time the money was sent out by the bank.

      RIA MONEY TRANSFER ; Ria Money Transfer is a subsidiary of Euronet Worldwide Inc. It is an international money transfer organization that allows funds to be sent and received directly to the recipient’s account or agent location as specified by the sender. Apart from money transfer, Ria money transfer are also into Bill Payment, mobile top up, cashing cheque, currency exchange and money order.

      Ria Money Transfer is Similar to Western Union transfer and MoneyGram but NOT as popular as Western Union and MoneyGram. Ria money transfer agents covers over 137 countries. Ria money transfer can be done online or at any agent location


      In Nigeria; Firstbank, Diamond bank, Skybank and some others bank are agents to Ria Money transfer.

      The Requirement for sending money through Firstbank Ria Money Transfer is quite similar to that of Firstbank western union. However, to use Firstbank Ria money transfer to send between two hundred thousand naira (N200,000) and above; Firstbank expect you to be firstbank account holder or be identified by a firstbank account holder.

      The maximum transfer limit through Ria money transfer is $5000 in naira equivalent to any receiver elsewhere. CBN guideline does not permit company to company transfer through RIA money. All transfer via Ria money transfer must be person to person.

      Ria money transfer charges are fairly reasonable. Receivers’ don’t need to identified themselves if the money is wired into their bank account

      To send money via Ria money transfer, visit any Firstbank near you and request for Ria money transfer. You will be given the forms to fill. Requirements are similar to Western Union transfer.

  80. Hello Emma,

    Thanks for taking time to answer each question and bringing up different possible solutions, it is much appreciated. I looked up the Ria money transfer at first bank and they said that although said transactions are available it can only be done in naira that means that if my parents were to send me like 200,000 naira I will still receive it in naira here in the UK. So I will use your other option of PayPal since they are trying to send £1,500 to me. but the problem is although I have a PayPal account it isn’t a Nigerian one. I made a normal PayPal account here in the UK to be able to buy stuff online, so my question is, if my mum opens a Nigerian PayPal account can she still send me the money?

  81. Hello sir,
    Please i want to ask you question about the paypal transfer, i have a verified nigerian paypal account and i verified it with my GT bank naira mastercard, some days back i sent sum of $300 from my paypal to my brother’s paypal in the US, but after sending and i did the calculations i find out that GT bank charges me 272 Naira for every $1 dollar equivalent which is very high (almost the same as the black market), but now i just read your write up about sending money with paypal using firstbank verified paypal, you said that i can walk up to any firstbank branch and fill out a form indicating that i want to transfer money from my paypal to another paypal account, but my question is that will they charge me for every dollar the equivalent of N199 (CBN naira exchange rate) or close to that? or is it like the samething with GT Bank change rate? or if you have any idea how much they charge per dollar please let me know i will really appreciate that.

    Thanks, i really love your blog it is very informative!

    1. Hello Danejo,
      Don’t mind these banks, that is what they do. The N199.05 CBN fixed naira to dollar exchange rate is not feasible here. For them, it is only feasible when you want to withdraw your dollar. However, someone told me here that he was able to send out $5000 at a transfer charge of $250 through his PayPal account.

  82. Dear Emma, I have been reading all your answers which is more relevant to one’s questions. I also would like to seek your advice on my issues. I would be much grateful.

    Well I have recently joined one of the Nigerian Employer here in Lagos as an Director Telecom VAS. I am getting paid my salary in Naira instead of USD into my Indian Dom Account.
    Well Every month I want to send Approximate 1 Million Naira to India, part of my salary. Also please suggest the suitable bank to open an account Zenith or Standard Charted ( Standard Started because it has branches in India as well if this can help.)
    If I need to move my Naira from saving account to my Domiciliary account, Do i need to buy dollar at Black market or how would it work & How bank can legal help me out on this.

    Much Appreciate your advice on this please

    Thanks & Regards

    1. Hello Ravi,
      It surprises me when you said you are getting your salary paid in Naira instead of USD into your Indian Dom Account. Any Money paid into Domiciliary accounts are meant to be foreign currencies such USD, Euro, Pounds etc. How come, they paid your salary in Naira into your India DOM account?

      In terms of suitable bank to open an account with, I will suggest you open it with Standard Charted bank (of which Standard IBTC is a branch). Their services are fast.

      A simple procedure of moving naira from saving account to Domicilary account has been stopped.Nigeria Banks no longer allow inflow to be converted to foreign currency. So, people can only resort to black market when they need foreign currencies like dollar.

      1. I am sorry , may be some mis writing from my side. What i meant was I am getting my salary paid in Naira’s into my Naira Saving account.
        My concern is to convert those Naira’s to my Nigerian Domiciliary account, from where I can transfer further to my Indian account.
        I am facing problems from Bank as they are not issuing dollars against my Naira’s to further transfer.
        Can u please provide me some solution as how can i do this, My main responsibilities lies there in Indian account.

        I also hear in you above post that CBN had lift a ban from the banks to deposit or transfer dollars, Would it help me anyways in my concern.

        Thanks & Regards

        1. Hello Ravi,
          Unfortunately, banks have stop the usually way of converting naira in saving account to domiciliary account. Even the activities of BDCs have also been banned by Central bank of Nigeria.

          Yes, I talk about CBN lifting ban placed on foreign currency deposit into domiciliary account. What that means is that if you have a domiciliary account in Nigeria; you can now deposit foreign currency into the DOM account if you want send money outside Nigeria via the DOM account or bank wire transfer.

  83. Hi, Emma,
    Good job you are doing here.
    I have a verified paypal account via GT bank. Can I send money through via my naira master card to a paypal holder’s account abroad?
    This is urgent and I am stranded.
    Thanks for your anticipated robust reply.

  84. Hello,

    If I want to transfer $30,000 a day from a dollar account at GT Bank, and I am also a US citizen as well as a Nigerian citizen, and I have a bank account in the US, how can I do this? If not $30,000 then what is the highest amount that I can transfer a day or in a month? Do I need to wire it from bank to bank?

    1. Hello Chima,
      you can wire it from bank to bank since you have dollar account in Nigeria. Use your dollar account at GTBank to wire it to your US bank account.
      For now, Banks/CBN has not stipulated any maximum transfer limit via domiciliary account.

  85. Hello,

    I have one more question. If I want to send 6M Naira a month to the USA, and I only have a naira account, but I do have a dollar account in the USA, How can this be done?

    1. So basically if I have both a naira account and a dollar account with a Nigerian bank. But my naira account is full and my dollar account is empty. And I have money sitting in the naira account. I also have a bank account in the USA. What can I do to get that money in the naira acccount, to the USA? What are the possibilities?

        1. Is it hard to sell a large quantity of naira because of the CBN ban? I read in another post that you purchased dollars from First Bank. Is it hard to purchase dollars from First Bank in such large amounts because of the ban?

          1. Yes. CBN guidelines has actually affected how foreign currencies flows in the country. I can’t remember the last time Firstbank sold naira to any foriegn currency.

  86. Emma,
    Most banks in other countries are ready to convert foreign currency to their local currency. So can one transfer money as naira to a UK account via wire, and ask the Nigerian BANK NOT TO DO THE CONVERSION, SO THE UK bank can convert it?

    1. Hello Uche,
      Yes, You can transfer money in naira to UK with Firstbank RIA money transfer. In-fact, you can only transfer Naira outside Nigeria and no other foreign currency with RIA MONEY TRANSFER.

  87. Hello sir,
    please which banks do you know that i can currently use to send money through westernunion and moneygram apart from first bank, i went to UBA and GT Bank they both said that i can not send through their banks as i can only receive.
    Thank you sir

  88. EMMA, Please am in Ghana now am about to pay my school fees, i was at Eco bank in Ghana today to make esquire about how to receive money from Nigeria, i was told is not possible that i can only withdraw with my ATM card, i cant withdraw USD1,800 at a time please how can i receive money from Nigeria in Ghana please your reply will be of great help to me thanks

  89. I do withdraw #150,000 with my ATM card before in a spot, but now i can not, So am looking for any other means of receiving money without it been on my account

      1. Dear emme, please I need to send money from kenya to nigeria, and I want the person to be able to collect dollars, what way can I use apart from domicilliary account as the person doesn’t have one and I checked moneygrams site but I think he can only take naira aIbrahimnd the rate is not satisfactory.

        1. Hello Ibrah,
          To receive the money in dollar, the person has to open a domiciliary account. You can use transfast to send the money. With Transfast, the person can receive an amount that is close to black exchange rate but has to be in naira equivalent.

  90. hello, please is it possible to send up to 2000 dollars via first bank western union in Nigeria to other Europian countries like Cyprus? secondly, how much will be the charges for transffering the 2000 dollars?

  91. Hi Emma, I have an account (current and DOM) with GTB in Nigeria and with Citibank in the U.S. I live and work in the U.S but own property I plan to sell in Nigeria…….. Can I transfer 40 million naira from my Nigerian bank account to my U.S account? What is the best way to transfer this amount (PayPal)? What conversion rate will the bank use when transferring the money (N200 to $1)? how much will I have to pay in fees and taxes (if any) in Nigeria and the U.S? Is there a limit on how much I can transfer daily, monthly? How long before the money shows in my U.S account. Thank you and God bless.

    1. Hello Sam,
      One of the best option of transferring the 40 million naira from your Nigerian bank account to your U.S account is via your DOM account. However, if you are to use your DOM account; you will do the transfer bit by bit.

      The maximum transfer via DOM Account is $10000/day.
      Transfer charge or fees via DOM account (outflow) is based on commission and it goes this way–2% commission on every transfer, 5% of 2% commission on VAT, N4000 for Teles (optional but necessary). You will receive alert of the deposit within 72hour of the transfer by your bank.

      Please not that, there is NO commercial Bank in Nigeria that sells dollar or exchange naira to dollar at present.

  92. hi emma please can i send money through money gram without converting to dollar or can i send in naira and also you mention above that someone can only send 1000$ in 3 month. my bank told me they can receive and transfer on wednesdays (money gram) how vital do you see this?

    1. Yes, Sammy;. The bank will do the conversion for you before sending out the money. For the receiving and transferring on Wednesdays, maybe that is your bank’s official day they carry out their outbound MoneyGram services.

  93. one more question please,i was thinking of opening an account in my location so that i will be able to receive money from nigeria because am tired and sick of the bank rate every time . i dont know maybe if i open an account here in russia it wont cost me much to receive money from nigeria,(i mean the bank rate).what do you think?

  94. Hello EMMA ONWUKA,

    I just came to know that ban has been lifted to sending dollars from Nigeria to another country my questions are below:

    1. If i want to pay in dollar from Nigeria to Hong Kong then what will be the process?
    2. I have domiciliary account but i dont have dollar in my domiciliary account so at what rate bank will charge me to sending money from Nigeria to HK?
    3. Will it be CBN rate (N200) or Black Market Rate(N290)?

    Your prompt response will be highly appertained.

    Thank you and regards,


    1. Hello Fola,
      Let me start by clarifying some issues. The ban lifted is on deposit of foreign currency into domiciliary account NOT on sending dollar from Nigeria to another country. There was Never a time CBN place ban on sending dollars from Nigeria to another country.

      To answer your questions;
      1. If you want to send dollar from Nigeria to Hong Kong, the process will be; deposit dollar into your domiciliary account and send it to Hong Kong by bank wire transfer.
      2. if you have domiciliary account then you need to deposit dollar into it before you can do the transfer.
      3. Commercial banks in Nigeria does not sell dollar so you need to buy from black market. However, if you are paying for tuition fees, RP, etc; you can do conversion at CBN at rate of N199,05/$ (CBN official exchange rate) and provide necessary documents to the commercial bank for the transfer .

  95. Goodday sir pls for ria money transfer can someone without a bank account receive money thru this means. Sir am presently in the Gambia i need to receive $2000 from Nigeria sir please can the money be sent to Gambia and i pick it up in the Ria Agents office or it can only be sent to a bank account. Please i need more clarification.

    1. Hello Lamin,
      Yes, you can pick up the money at RIA money transfer agent’s office in Gambia apart from receiving it into your bank account.But you have to make sure you have RIA money transfer agent’s office close to you in Gambia.

  96. Hello Emma Onwuka,

    Please i want receive money in dubai can it be possible through RIA money. Also how much is the limit in a month. Also I have PayPal account here in dubai can someone who has PayPal account in Nigeria transfer money to my dubai PayPal account here for me.

    1. Hello Okechukwu
      YES!!! you can receive money in dubai via RIA money.
      The maximum transfer limit through RIA Money is 5000usd naira equivalent per sender daily.
      Someone who has PayPal account in Nigeria can transfer money to your dubai PayPal account.

    2. Hello Okechukwu,
      Yes, it is possible to receive money in dubai through RIA Money transfer.
      The maximum transfer limit is 5000usd naira equivalent per sender daily.
      Yes, someone who has PayPal account in Nigeria can transfer money to your dubai PayPal account.

  97. Thank you for all of this wonderful information. I have a reverse question. I am in the U.S. and trying to find the most cost effective way to send money to Nigeria.

    1. Is there a way to send money to Nigeria from the U.S. and have the person in Nigeria receive the money in USD not automatically given in Naira as the banks do?

    2. What have you found has been the method to send money with lowest rates?

    1. Hello Ifeanyi,
      1. Yes, there is a way to send money to Nigeria from U.S and the receiver in Nigeria will receive it in USD. To receive money in Nigeria in USD from U.S, you have to open domiciliary account. Once, the domiciliary account is open, from U.S the money can be wire to the domiciliary account in Nigeria and withdraw in USD.

      2. where do you intend sending money to?

      1. Thank you Emma for the response. I am in the U.S. and have a dorm account with GTB in Nigeria. But I imagine someone there would have to have my ATM card to withdraw the money on that side.

        Would it make more sense for me to send it to someone else with a dorm account in Nigeria that way they can just take it out of their own account?

        If so, are there any banks in Nigeria that do best with such wire transfers? I imagine I can do that from any bank in the U.S. considering we don’t have the same banks?

        For the second question, I meant sending from U.S. to Nigeria, sorry for not clarifying.

        1. Yes, it is better to send the money to someone who has DOM account in Nigeria who will withdraw it. Do NOT send your ATM card because it will NOT work. Diamond bank and GTbank Domiciliary account are ok

  98. Hello sir/ma’am
    I would like to ask about my husbands fund . Her fund is now on GtB and he say’s that i make a letter and then i gave it on the bank which is gt bank . He is a general. Gen john games her full name . He wants to transfer her fund in my name . What should i do ? He is on syria and im here in the phillipines .

  99. Hi Emma.

    I am just now hearing that Ria money transfer can send money from nigeria to the US . can you please explain this process and the monthly/daily limit.

    thanks alot

  100. Hi Emma.

    I currently live in the US and will soon be receiving money from Nigeria at least twice a month it might be more. my question is can the sender from Nigeria send money through his domiciliary or pay pal account and i receive it in my account in the US or do i need to travel to Nigeria and open a Pay pal and domiciliary account myself then link them to my account in the US? I also just heard western union and money gram are only allowed to send $50 to the US from Nigeria as of today. I am also just learning about Ria money transfer can you please explain the process and daily/monthly limit in sending money from Nigeria.


    1. Hello Toni,
      Yes, the sender from Nigeria can send money through his domiciliary account or PayPal account to your US bank account or to your US PayPal account. You don’t need to travel to Nigeria to either open PayPal account or domiciliary account.

      With Western union or MoneyGram, you can send $1000 to US from Nigeria for every three months.

      As of the Ria money transfer, in some of my earlier comments; I have explained about it in detail. Go through the comments and see if you can pick it out; if can’t, let me know and I would explain it once again.

  101. please my friend wants to send me money from Nigeria to Europe the amount is in naira equivalent to 2000euro and he is finding it difficult to send it can any one help me out with reasonable information the charges fee also ??

  102. Hello .
    Bless day gor us Im myrna. I would like to ask about my husband’s fund and My husband give me the right to transfer her fund. Then my husband ask how her fund will be transfer on my name.? Thanks . What should i do

  103. Good day Mr. Emma Onwuka,

    Please my friend try to send me money through RIA but the bank people said is not working again. Secondly first bank told him that moneygram transfer is only for people they have business with that they can’t send for him until he have at list 3000000 naira in the account, please how true is this two informations especially that of first bank what kind of business does one need to have with them.

  104. Hello, please id like to ask as regards, the Ria money transfer, Can it be used to transfer money from Nigeria to philippines as of present? And what is the exchange rate. I mean like if i were depositing 200 thousand. Like how much would i get in pesos.
    And how much is the transaction fees.
    Im asking coz i saw some1 say earlier that firstbank said, they only do naira to naira transaction. WHat does that mean., coz we dont spend naira here in the phiilipines lol.

    1. Hello Mayour,
      Ria money can be use to transfer money from Nigeria to Philippines.
      if you are to use bank like Firstbank Ria money transfer to send between two hundred thousand naira (N200,000) and above; Firstbank expect you to be firstbank account holder or be identified by a firstbank account holder.

      The maximum transfer limit through Ria money transfer is $5000 in naira equivalent to any receiver elsewhere. CBN guideline does not permit company to company transfer through RIA money. All transfer through Ria money transfer are usually person to person.

      Ria money transfer charges are fairly reasonable. Receivers’ don’t need to identified themselves if the money is wired into the receiver’s bank account.

      All money transfer via ria money is in naira equivalent, you can sell the naira to your bank or black market over there in Philippine

      1. Okay, thanks. With what youve presented about RIA. It sounds a much better option than WU or Moneygram. Why dont people use it often. Now when you say the limit is 5000 usd. Do you mean 5000 USD daily limit or lifetime limit.
        And what other banks are RIA agents apart from Firstbank. Thanks once again.

        1. Hello Mayour,
          RIA money is not as popular as WU or moneyGram. This is why people don’t often use it. Again, RIA Money transfer is only in Naira equivalent regardless of where the money is being sent to.
          The daily transfer limit is $5000 (in naira equivalent). Other Banks that are RIA money Agents are Diamond bank, Sky bank etc

        2. Please id like to know a current status update on RIA. My folks went to Skye Bank,Diamond and both said they only send but dont recieve. And Firstbank said that they have jobs on hand that will last till may!!. Imagine? Please how possible is this. Literally to use WU they also say the same nonsense..That they have things to do till May!!
          Please..is this problem, bank branch based or is it the whole country that is messed up like this? Im hoping for a solution. What bank branch can i succesfully transfer via WU MONEYGRAM or RiA. Thanks.

          1. That should be bank branch based problem. Firstbank RIA money transfer, WU and moneygram are still working fine. I will suggest that they check many other firstbank branch close to them

  105. One question. Since I am in a country that is not supported by PayPal, would you recommend hiring someone like Auction Essistance to open me an account in a different country where PayPal is supported?

  106. Good day Emma,

    Thanks for all the help with this thread. when you said ria is only in naira equivalent , what did you mean. i am expecting 2 people to send me about $10,000 tomorrow from Nigeria. I assume thats possible with RIA. thanks

  107. Hello Emma, I’m a student here in China. Due to the current exchange rate situations in Nigeria, I get less when my dad sends me my monthly allowance cos I withdraw it directly from the ATM with my first bank MasterCard. Now if my dad is to send me 50 thousand naira every month, what’s the best way to receive it here in China and still be a reasonable amount. In other words, what’s the best way to send this 50k to me in China?

  108. Good day boss, pls I’m in Nigeria and I have a story book in pdf and I want to sell it, my customers outside Nigeria want to buy it, they will pay first before I send them the link to download it. the problem is how do I receive the money since the amount is just $5.
    please help me out on the best way to receive the money. Thanks

    1. Hello Topsy Pascal,
      what you have to do is to integrate online payment gateway like Simplepay4u payment platform into your webpage or website. Once integrated, your customer can pay via that means. Once they pay; you send them the link to download PDF. It is very easy and simple. If you find it difficult doing that, you can contact me.

  109. Basically, what i need money for is to pay my tuition. If im to get money at the present exchange rate of 330 naira to a dollar..thats like adding an extra million to my tuition. NO way i can afford that.
    Please any ideas on what to do To get my money at a cheap rate.
    It feels so UNFORTUNATE to be Nigerian at this moment.
    Thts why i need an alternative that works at the govt exchange rate.

        1. Yeah, pathetically. I just discovered that. In otherwords they are saying we should go and die.
          Oga emma onwuka, please help profer a solution.

  110. Good day please i want to transfer money from a dom account but the recipients account isnt a dom account can it be possible. And also wat is (swift code and routing number )

    1. Hello Daniel,
      Yes, it can be possible.

      Swift Code is a Bank Identifier Codes (BIC). It is unique identification code for any bank. Swift codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them apart from money transfer. The Swift code usually consists of 8 or 11 characters.
      The recipient’s bank provides the swift code during money transfer.

      Bank routing number or routing transit number (RTN) is a nine digit number used to identify a financial institution in ACH and wire transfer transactions.

  111. Good day Mr Emma, please my brother in Nigeria want to transfer €650 to me in Germany but it looks like it’s impossible. He has been to all the Firstbank and Accessbank Branches in Akure but they said it’s not possible even with western union and moneygram. Please is there any available means to send the money to me…maybe through paypal or other means?
    Thanks in anticipation

    1. Hello Samuel,
      Some branches of the major banks (Firstbank of Nigeria and UBA) that are into outbound money transfers services in Nigeria (WESTERN UNION and MONEYGRAM) have temporarily suspended money transfer services till March. Some branches in these states are not working; Enugu, Lagos, Akure, Abia, Abuja etc.

      Your brother can try PayPal. However, for him to use paypal; he has to open a paypal account first and you over there has to open one too.

      Using a domiciliary account would have been another best option if he operates one.

    1. Hello Lola,
      The information reaching us today says that some branches of the major banks (Firstbank of Nigeria and UBA in Nigeria) that are into outbound money transfers services (WESTERN UNION and MONEYGRAM) have temporarily suspended money transfer services till March. Their reasons seems not to be official as some of their other branches in some states are still working. Some branches in these states are not working; Enugu, Lagos, Akure, Abia, Abuja etc. So, Lola, you can ask your friend to try other means or wait till March.

  112. Give us your naira and get USD in Dubai and China instantly. Only for business tycoons and for business purposes. No money laundering pls!

  113. Hello Emma,
    1. Pls if I’m sending money (naira) from Nigeria to America through either of money gram or western union, does the receiver in America get the dollar @ the rate of 200 naira to 1 dollar (pls explain) and does the sending cost and other terms still remain the same as of present for both avenues
    2. And how exactly does someone in America get to send dollars into a dom account here in Nigeria,
    N.B I’ve bn reading the responses from top, I simply don’t understand fully, kindly take out time to explain to me. And ure doing an excellent job here. Cheers! 4.2

    1. Hello Dayo,
      Let me start by informing you that Major branches of banks (Firstbank, UBA, Fidelity bank etc) that are Western union and Moneygram agents in Nigeria have temporarily suspended their outbound money transfer services till March. So, it may be hard for you to send money out by either WU or moneygam until March.
      1. The receiver receives the dollar equivalent of the naira you sent. The bank does the exchange conversion which is usually almost same with interbank exchange rate. Western Union money transfer charge is N16,800 per $1000 or N190,000 sent out of Nigeria while Moneygram charge N14,400 per $1000 transfer.
      2. There is NO special way of sending money to a domiciliary account in Nigeria from America. All you have to do is to provide the sender the necessary domiciliary account information such as Routing number, Sortcode, account number and the account name ; and he/she will do the bank wire transfer.

  114. Hello Emma, due to the increase in dollar rate recently it has been very difficult for me to shop online with my mastercard as I’m being charged over 300 Naira to a dollar. This is really making business difficult for me at the moment. I have families in the USA. How can I send money to them at the CBN exchange rate. Thanks

  115. Hi Emma,
    Sending money through western union, the bank converts the Naira you wish to send to the dollar the receiver would get at the official CBN rate right? For instance if you go to the Nigerian bank and tell them you wanna send N200,000 is this amount is converted to USD at the official rate of 199 or so?

  116. I apply for an online loan I payed several hundred dollars in fees but now I cannot received the money because I was told that Forex have to convert the Naira to my currency.I have to pay a further 920.00 local dollars for this facilitation. My arrangement of transfer is bank to bank. Is this information correct to your knowledge?

  117. A loan transaction was initiated by Dreamlighloans and the bank being used is Springland Bank. I received several documents from the Nigerian Government and the bank, Springland Bank. I was told by the director Mr.Glenn Chibueze that the bank stipulated that the transfer is 80% finish and that I should pay the 920.00 local currency to convert the Naira to my local currency in order for funds to be deposited in my bank account. I need to have this clarify. Is it possible that I can have a refund?

      1. Hello Junior,
        You want people to contact you for what?. This article is about how to send money from Nigeria to another country Not about your so-called Dreamlighloans. No scamming or spamming here. This place is NOT for laying Complaints on Loans.

  118. Hello, my name is Muhd I am studying in India, my brother what to send 110,000 Naira , using Moneygram what will be charges and how much will I receive here in Indian rupee

    1. Hello Muhd,
      You can do the conversion yourself. Approximately every 190,000 naira sent out from Nigeria, Moneygram charges 14,400 naira. 1 Nigerian naira equals 0.34 Indian Rupee. The 110,000 Naira; you are expecting from your brother equals 37230.37 Indian Rupee. With this, you can do the necessary mathematics yourself.

    2. Hello Muhd, am presently studying in India too but so far, all means of sending money to me from Nigeria has been unsuccessful. Did your transaction with Moneygram transfer go successfully? thanks

  119. Hello Emma,

    I will like your advice pls. I want to embark on the sales of forex in Nigeria and will prefer to sell directly to end users rather than bdc’s but my friend said the only way is through the bdcs.

    When I tried placing an advert with the punch newspaper , I was told that only bdcs are allowed to do that.
    I have read the Foreign Exchange Act and thought it will be allowed.
    Your input will be appreciated.



    1. Hello Funmilayo,
      If you want to embark on the sale of forex offline in Nigeria to sell directly to end-users, it will NOT work. You have to register as BDCs agent or through BDCs. It is only the BDCs that sell forex to the end-users in Nigeria. They pay certain TAX to the government to do forex trading in Nigeria and they have association as well as Union. So, if they discover that you do the business without being registered as a member; you will be sue for violating the rule of forex trading in Nigeria.
      However, you can do your forex trading online and nobody cares but you need the best forex broker.

  120. One quick question, if it is against the law, why then is the President encouraging people to buy from the black market? I mean when He said the Govt could no more fund school fees abroad.
    I thought the bdcs bought their forex at govt rates from the CBN?

    1. The President does NOT in any way encourage people to buy from the black market. When he said the Govt could no more fund school fees abroad; what it means is that, you DON’T need to go to abroad to study. Study here in Nigeria! Patronize our local educational system and help Nigerian NAIRA to appreciate. Our external reserve has been depleted because you go to abroad to study.

      BDCs bought forex from CBN close to interbank exchange rate (official government rate). Currently, CBN has ban sale of forex to BDCs; this is one of the reason why we had surge in the parallel market exchange rate for naira to dollar.

  121. hello ,thanks for the good job.i did an online professional course and i had to pay 14 euros to get the certificate and the only means of payment is pay pal,money gram,western union and bank transfer.the only means of payment i cad do is western union.please is it possible to send 14 euros through western union.i will be glad if you can provide answers to my question.thanks

  122. Hello Emma,
    Please I need your advice, I will be traveling to South Africa for a medical treatment which would cost up to 80k rands =1.1 million Naira ..how can I make this payment at a good rate and avoid anything to do with buy the dollar off black market.

    Thank you.

  123. Hi Emma,

    Thank you for enlightened us about the new money transfer policy in nigeria. From your response to some comments, that the major banks will start sending money outside nigeria through western union and moneygram.but my brother in benin went to first bank on March 15th to send money to me in italy the problem still remain that is still unable to send it. Pls has the period of the banks to start sending money to foreign country be extended? Or no hope at all.

  124. Hi

    I have a normal current account with Zenith Bank ( not DOM account).

    Can I send money to Europe(Italy to be precise)? Via bank to bank or Western Union/Money Gram?


    1. Hello Opal,
      you can’t send money outside Nigeria via current account. However, you can receive money from abroad to Nigeria through current or savings account. You can send money to Italy via Western Union or MoneyGram.

  125. You have been amazing financial educator. May I quickly ask you to revisit the question of DOM account. My question is, can one open Dom account with Naira? U walk in to bank and say I want to open Dom account without foreign currencies?

    1. Hello Chibuza,
      I appreciate your compliments!
      You can NOT open a domiciliary account with Naira. Domiciliary account is a bank account dominated in foreign currency. Naira is a local currency NOT a foreign currency.

      Thank you for dropping your comment/question.

      We have build strong reputation and authority on different means of sending, receiving and transfer money locally and out of Nigeria; we have also help thousands of Nigerians and non-Nigerians on issue relating to money transfer across Nigeria. We have in so ways help to bridge the gap between banks in Nigeria and their respective customers.

      This is just but few; see for yourself

      How to open a domiciliary account in Nigeria with GTbank, Firstbank & Zenith bank

      How to send money through Western Union & Recent CBN Guideline

      How to receive money in Nigeria from abroad

      how to open a GTBank verified PayPal account for free

      How to send money to a Domiciliary account

      How to open PayPal account with Firstbank

      CBN’s Ban of foreign exchange Sale to BDCs & its Implications

      Naira to Dollar exchange rate – black market today

  126. morning, thanks for good work

    just wanna ask a question about the WESTERN UNION, you said in one of your comment that Western union and Moneygram agents in Nigeria have temporarily suspended their outbound money transfer services till March, just wanna ask if we can send money now since is march already

  127. Good day Emma,
    Am in Kenya and expecting to receive about 1,000,000 Naira (i believe this is equal to US$5000) equivalent in Kenya Shillings from Nigeria. Would Firstbank RIA money transfer be the best option to have this money sent? Is this option still available? What are the transfer charges? Thank you.

      1. Thank you Emma. Western Union and Moneygram charges are crazily high. Appreciate your response. When will Firstbank RIA be reinstated?

  128. Hi Emma, please how can I send money (naira) to cameroun and get it with cfa, I normally send huge amount through GTbank and sometimes firstbank to a business client and he receive and withdraw in cfa, please how do this work?.. Will really appreciate your feedback.

    1. Hello Darlington,
      You can send the money through domiciliary account. With domiciliary account, you can send up to $10,000 per day.
      if I may ask; what means do you use in sending the money through GTbank and firstbank?

  129. Hello bro,
    Am really impressed by all the post and comments………………keep up the good work.
    Please,with regards to nigerian student in ghana,i know u’ve spoken about RIA,Paypal etc .
    Do i have to open a nigerian paypal and ghana paypal,if yes how do i then withdraw it(if i don’t have a ghana account)?
    How best should i go about using Ria?
    Honestly,i need your help.
    if i transfer 100k from my nigeria paypal to ghana paypal………please what is the exchange rate?

    1. Hello Mac’Odo,
      Since you are in Ghana, you have to open a Ghanaian PayPal account. Once done, if you wish to withdraw the money from your PayPal account into bank account, you have to open local bank account there in Ghana and link it to your Ghanaian PayPal account. Transferring of $5000 via PayPay account from Nigeria to Ghana can cost you up to $250 of transfer charge.

      Firstbank RIA money is temporary not going through.

      1. Thanks bro,
        Should the ghana local account be a cedis or dollar account?
        When transfering funds from my firstbank account in nigeria……………….how would the conversion be like? is it from naira to dollars then to cedis or directly to cedis.
        not withstanding,who is doing the conversion,is it paypal of first bank?
        if its firstbank …please,what its there exchange rate?
        if its payoal…please,what its there exchange rate?

        1. Hello Mac’Odo,
          The Ghana local account can be cedis or dollar account. However, if you want to withdraw the money as dollar(foreign currency) in Ghana then you have to open a dollar account.
          You don’t need to be border on how the conversion is being done. Bank to bank transfer, the exchange rate is at official rate of N199.05 but once third party like PayPal, MoneyGram, Western Union etc comes in – you will incur certain amount of transfer charge.

          1. Ok thanks,i really appreciate your counselling.I believe you must have use paypal recently for one transaction or another,so if i may ask……….how much are you being charged……….Let me say i want to fund my paypal account with $100 through my firstbank saving account….how much do you presume would be debited from my account (with regards to firstbank exchange rate(199.05) + paypal charge ). Please i really need your help on this.
            Thankz bro.

  130. Hello Emma. . .I really count myself blessed to have seen this article. I have a few questions:
    My situation is slightly different from most I have seen in the comments above.
    I am doing an online investment (not much money at a time – about $500 for now) and the options for payments are Payza, Bitcoins, AdvCash, SolidTrustPay, Payeeer and PerfectMoney. I’m not sure if you’re familiar with these payments methods but it seems I understand Payza the most at the moment.

    The only payment options available to us here in Nigeria (while using Payza) are through Bank Wire and Credit Card.
    If I were to use the Bank Wire method, I’d make a print out of the instructions to give my bank (bank name, bank address, IBAN Number, Swift Code and some other details are on the document) or do the transaction directly online.

    I went to the bank (GTBank) and was told that I’ll have to open a Dollar Credit Card account, though I did not get any much information on the Bank Wire method.

    I would like some clarifications on this matter as I am slightly confused on what to do.
    Do you think it will be possible for me to make these payments via Western Union?
    Or would it be easier and faster using any of the other payments options (Payeer, SolidTrustPay, etc.) I mentioned above?

    Thank you in advance Emma.

    1. One more thing: I saw on First Bank Western Union that you can only use them for only person-to-person transactions. But mine is a person-to-company transaction.

      Please how do I make this payments from here in Nigeria?

      1. Yes, First Bank Western Union is only meant for person-to-person transactions and Not person-to-company transaction.
        See the answer on your first comment. You can ask further question(s) if you are still confuse.

    2. Hello Grace,
      Using Western Union or MoneyGram will NOT be possible because you can’t use them for payment or funding an account on third party website or company.

      I will suggest you use the bank wire method by opening a domiciliary account and requesting for dollar credit card. With you dollar credit card, you won’t be visiting your bank all the time as you can make payment via online using your dollar credit card. If you need any further information concerning the bank wire method let me know.

      However, whereby you were not able to open a domiciliary account; you can use either PerfectMoney or Payza as they are popularly known than others that you mentioned.

      1. Thanks.Plz is there no other means of undertaking a bank wire without opening a dom account?
        With regards to payza wat is the best and easiest way i can add funds to my payza wallet from nigeria?
        i only have mastercard not visa.

        1. Hello Mac’Odo,
          Western Union and MoneyGram are also form of Bank Wire Transfer.
          To fund Payza wallet in Nigeria, you need to have VISA debt card or even domiciliary account.

      2. Hi! Emma, thank you for your response. I forgot to mention that I was told in the GTBank bank that I could not get a dollar CREDIT card unless I was earning at least a million naira per month (which sounded weird to me). Is that true?

        I was told that I could only open a dollar DEBIT card. Now I’m not sure of the differences between the two and the advantages/disadvantages of having either. I would appreciate an explanation.

        If I were to use Payza, would I ask for a visa or Mastercard?

        Thank you again.

        1. Hello Grace,
          I will suggest you open domiciliary account and demand for dollar debit card. It will serve you.
          The major difference between dollar credit card and dollar debit card is that with you dollar credit card, you can still make payment or fund your “online investment account” even if you don’t have money on your dollar account. However, the maintenance is high.

  131. I just opened an account with zenith bank hoping to send Money to Europe(Macedonia). They said the highest amt that can be sent is just 34.9euros and besides the transaction was not possible as the banker told me that Western Union transfer there is unavailable indefinitly because of the exchange rate. Can anybody help me on how to send money there either through Moneygram, Western union or any other means. Thanks.

    1. Hello Abdul,
      Firstbank Moneygram and Western union are now available.

      Sending Money out through Firstbank MoneyGram Now
      To send money out through Firstbank MoneyGram, you have to visit any Firstbank close to you as early as 8:00am. Try to be at the bank as the bank open their office in the morning. If you miss the time, they will definitely tell you that MoneyGram is not going through.

      Sending Money out through Firstbank Western Union Now
      To send money out through Firstbank Western Union now, you have to book it. It is usually best to go for the booking at the beginning of new month or early in the month. If you miss the beginning of new month, you will end up receiving this kind of response from firstbank, “we have exceed our monthly transfer limit”. So, try to be there earlier.

  132. If anybody can give me information about the most reliable bank through which I can transfer money abroad with ease.

  133. Thank you very much for your response. I really appreciate. This is a very good forum. keep the goodwork going. I will be there as early as possible on Monday….. How much is the highest transfer limit for first bank.

    1. Hello Abdul,
      the maximum transfer limit is $1000 in every 3months or 190,000 in naira. The transfer charge for moneygram is about N14,800 while the transfer charge for Western union is about N16,400

  134. okay, thank you. Do I need to have an account with firstbank as many banks demand that you have an account with them and run it for at least six months before one can run Western union transaction.

  135. Wow wow wow
    Your work is extremely commendable
    Jazak Kumllah khairan(May Allah reward you) amin
    Please; i want to send money to morocco though its a very small amount within the range of 30euro-50euro
    which is advisable? Money gram based on what have read.
    And how much do you think the charges will be? Thanks as i anticipate a reply.

    1. Hello Abdul,
      As of today, exchange rate for first bank sending through western union is about 1 Euro equivalent to 226.76 Nigerian Naira. Please, the exchange rate is NOT stable; it can change slightly tomorrow or any moment. If you get to the bank; ask them the current exchange rate.

  136. God bless you EMMA for the great work you are doing here,from your response to some comments it seems like first bank has began sending money out of Nigeria again through western and money gram . my problem now is what I want to recive (in italy)is way more than the limit first bank can transfer through western and money gram. Is PayPal transfer presently working and if it’s working what is the maximum amount that can be transferred. Thank you expecting to hear from you.

    1. Hello Christopher, please i would like to know if you were able to transfer the money to Italy via western union..i am also in the same situation. Thanks

  137. I could not make it to the bank this morning dur to the Lectures I have to take my students, but can I still run the transfer in midday or tommorow morning. Thank you Emma.

  138. Wow,its amazing what u’re doing here,may God bless you
    Please,i want to fund my payza account,but am scared of what the exchange rate is and payza charge might be,i believe somebody out here must have an experience with PAYZA,please what are the charges involved,and what do you advice?
    cuz i want to send money to Ghana.Tankz.

    1. Hello Victory,
      I have not used Payza before but here is what I can make out from Payza website; ‘You can send and receive funds in your own currency or in any of our supported currencies for a low 2.5% spread over the daily exchange rate’.

  139. Hi, if I am making a PayPal transfer from my Nigerian account to a uk bank account what will be the rate at which the bank will charge

    1. Hello Morey,
      You can transfer up to $5000 at a transfer charge of about $250 via PayPal account. However, Firstbank told me that if I am transferring via my firstbank PayPal account, I will be charge at black market rate. I didn’t up till now understand them.

      1. Wow………..blac market rate? dat is what we’ve bin trying to avoid,does that mean that firstbank paypal account is not a good option to use in transfering money outside nigeria?
        How about a normal paypal account………………..do they still charge at black market rate?

  140. Hello Emma
    I have a training in India and it costs 91,000IRs. How best can I make this payment at a near official exchange rate? How much naira would be the equivalent? If I open an Account with standard charted bank and deposit 300,000NGN, can I withdraw over there in India at official exchange rate? Your response is highly needed. Thank you.

    1. Hello Edet,
      9,000INR is equivalent to 272131.63 Nigerian Naira. If you are making the payment to an individual account, I will suggest you use MoneyGram and Western Union Transfer (this will be done at official exchange rate). If you open account with standard charted bank in Nigeria and deposit money into it, you will be charge excessively when withdrawing it in India. Using anything third party money transfer agent to make the payment will lead to the payment being made at black market rate or near to it.

  141. Hello, I Have account with diamond bank,I’m presently in Netherlands,a friend wanted to deposit cash in my account it’s quite a lot more than 100million naira to purchase goods for him here what are the possible way to withdraw the cash here or the best way to transfer it here ,I don’t have PayPal or domicilary account.thank you

    1. Hello Oyewale,
      The money is huge. Your friend have to transfer the money to you, bit by bit. Let you your friend open domiciliary account and or PayPal account otherwise he/she can go through CBN form M. I will not suggest to him/her to go through any third party money transfer agent.

  142. Hi Emma, my sister went to first bank yesterday for western union and was told #190,000 will receive $750 not $1000 with charges for #16,800 and you must have an acct with them because they will debit directly from your acct.

  143. Hello Emma.I want to commend what you are doing here.I have read through the comments and your answers have been very helpful.Well done.I want to know if it is possible to transfer money from my Nigerian account to my US account without having to open a dom account.

  144. Edited
    Hello Emma,i appreciate your good works here, i went to first bank yesterday to tranfer money to Liberia,i know their limit is 190000+16800 for charges, ie 206800 naira, when I asked her how much will I be expecting in Dollar, She said it will around 700 USD or more but not up to 800 USD. Honestly am not comfortable with that, it is as if am buying dollar in black market.
    Secondly my husband who is in Liberia could not withdraw with his naira master card, what other means should we use, He is stranded.
    Lastly First Bank said my turn for the wicked transaction will be by month end. Pls turn us Sir. My name is Joy.

  145. Hi Emma, first bank didn’t say anything about the remaining $250 ,they only told her #190,000 + 16’800 will be $750 .pls did you inquire about it as promised. Cheers

      1. please, how long does it takes to open a Paypal account, and let say i want to receive 200000 Nair through Paypal, how much would it be in equivalent of Kenya shillings ..God bless

  146. Hi emma, am a nigerian but studying in Northern cyprus…I contact first bank some days ago but they told me the only means to transfer abroad now (Because i want my dad to make the transfer for me) is to open a DOM account, that CBN has stop all international funds transfer including Western union and Money gram…But i need to get some pocket money, its been hard using black market Xchange rate.

    What would you advice me to do..

    +2348038016735 is my whatsapp number, i will be glad if we can chat better.

    1. Hello Adeola,
      Western union and MoneyGram has not been stop.The only thing is that Firstbank has limited Western union monthly transfer limit, so to use Firstbank western union; you have to book for it earlier while for MoneyGram, you have visit the bank early morning.

  147. Hello MR EMMA may the good lord bless u in jusus mame AMEN. Is ria money still available? if not, can i withdraw money with my diamond bank naira master card in diamond bank ghana via there pos quick teller?

    1. Firstbank Ria money is temporary not working. You can withdraw money with your diamond bank naira master card in diamond bank ghana via ATM machine but you will be charge.

  148. Good day to you,
    I try to pay my tuition fee to UK from 1st bank on friday using FORM A and till today they are yet to deduct the money from my account and they promise me 48hrs.
    Am out of time from the sch and as well my bank statement. Pls what’s your advise?

  149. Hi Emma, thanks for bring these vital info to us. What about travelex. is it functional in Nigeria? If it is, how can one take advantage of it in making transactions at the official rate?

    Many thanks.

      1. Hi Emma,

        I read up that news about CBN and its intention with travelex. What I want to know is if one can still buy dollar from travelex and also get the travelx card loaded with dollars at an official rate.


  150. Yhello Emma,

    To be candid, I am based in UK but doing exportation business.
    My business associates need to send money back to me in the UK but because of the sky rocket exchange rate they cannot.. Please what are the possible and the best ways of getting good exchange rates in sending money back to me… Without black market..

    Kind Regards..

  151. Hi Emma please i want to receive 13000 dollars in dubai from nigeria at a good rate how will i do that and what cost will be the rate if you have the idea. Thanks.

  152. Hi Emma pls we are in may now and nothing has change my people live in Kaduna and they complained Western Union or money gram is still not working and I need to receive like 150,000 naira for my rent before the end of the month I stay in Ghana please what can I do

    1. Hello Vivian,
      Firstbank Western union and MoneyGram is working. But to send money through Firstbank Western union, you have to book for it earlier (usually beginning of the month). To send money through MoneyGram, you have to be at the bank as earlier as 8.00am. Again, banks seems to have increase their transfer charges.

      Apart from Western Union and MoneyGram, Firstbank Ria money transfer is now working.

      1. Hello Emma,

        well done on the job you’re doing. Please did you say first bank ria transfer is now working?

          1. Ok thanks Emma but is it all branches that do it and what’s the maximum transferable amount per transaction and is there a monthly or quarterly limit per customer?

  153. Please Emma how can I get access to do this ria money because first bank people keeps saying is not working yet.

  154. Hi Emma, my brother wants to send me 5million Naira from Nigeria to buy some goods here in Canada , please what’s the best less expensive way to go… I was thinking of wire transfer via a dom account in Firstbank, or Paypal… Please what’s your best advise. We re really looking for a less expensive option . Thanks a lot for your great help

    1. Hello Tony,
      Had it been that either your brother or you is an importer, I would have suggest you go through the official form M of CBN which is the cheapest though full of hassle. However, if you have domiciliary account; you can bank wire the money via domiciliary account. With domiciliary account, you can send up to $10,000 per day. Sending the money via domiciliary account is fairly cheap but the big challenge is funding the domiciliary account since no bank in Nigeria sell or exchange foreign currency. So, getting the foreign currency at an official exchange rate would be hard; it means he has to go through the parallel market (black market).
      PayPal would be a good option if he( your brother) has a verified PayPal account.

  155. Hello thank you for this blog it’s been very helpful, my question Is where and how do it get the best rate for Naira to Dollar conversion?

    Thank you

  156. hello Emma

    good evening please am in Nigeria and want to send money just 30000 to my brother in Cameroon I went to eco and uba bank they say they don’t send money to other country please which bank can do this transaction for me thanks and on what platform? money gram or western union?

    1. Hello Frank,
      If the amount you have written above is 30,000 NGN (thirty thousand naira) and not $30,000 then Firstbank MoneyGram or Western Union transfer should be able to take care of that.
      However, if it is $30,000 then using GTBank, Diamond bank or Firstbank Domiciliary account will be a good option.

  157. Hi,emma I am ikechukwu I want to transfer €11500 to iban in hungary please. What can be the easy approach to this. If I have naira equivelent to the euro in my account can I transfer all with domicillary account and will they charge me based on parrallel rate.secondly I want to ask, if you want to pay in, in naira to fund your dormicillary account in nigeria will the commercial bank convert the money with the parrallel rate or the official rate into your domicillary account,thanks.

    1. Hello IKechukwu,
      Let me start from your second question; No commercial bank in Nigeria either accept naira deposit into domiciliary account or exchange Naira for foreign currency.
      *domiciliary account is an account that is funded and operated in Foreign currencies.
      *No commercial bank in Nigeria sells foreign currencies.
      If you have naira equivalent of €11500 in your account, since Western Union and MoneyGram will not work in this case (you are sending a huge amount); using domiciliary will be a better option. You have to convert the money to dollar or Euro before depositing it into your Domiciliary account. Travelex exchange rate is usually better than other parallel market exchange rate, so you can exchange the naira for Euro with them so as to be able to deposit the money into your domiciliary account. Once, you deposit the money into your domiciliary account, you are good to go.

  158. Hey Emma..am in the United States ..trying to receive money from my parent in Nigeria..buh they tried Sending money..buy western union sed u can only transfer $190000 in 3 month is it true?

  159. Hi Emma,

    Please do you an idea how much I am going to receive in USD through First bank western Union Money transfer ? My dad wants to send $300,000 from Abuja to me in USA

    1. Hello Joseph,
      your Dad can not send up to that amount to you through first bank western union money transfer. Ask him if he can or if he succeed let us know here, Please. If you find out or let us know here then I will tell you equivalent of the amount you will receive in USA.

  160. Hi Emma,

    would it be possible to send 500,000Naira to someone in Ghana without extreme hurdles and hassles?

  161. hello emma i school in china, my dad wants to send my tuition through the domiciliary account but they told him he can’t send money to another country wondering if there is another option

      1. first bank.it’s actually my tuition,feeding and house rent he wants to send, so he can not send it through the cbn A form even my friends here can’t get money through domiciliary account….i think the problem is he went to the bank with naira asking them to change it to dollars before depositing it in the domiciliary account.

        1. OK, that is the problem. No Commercial bank in Nigeria exchange or sell foreign currency. So, the only way to do it is to buy from black market or other agents like Travelex and deposit it into his domiciliary account before sending it to you.

          1. thanks for replying instead of buying dollars can he buy yuans(chinese currency)cause it is cheaper in the black market…and he stays in the north so using travelex won’t be easy

          2. Hello Martins,
            he can not buy Yuans because his domiciliary account can not be yuans. The 3 major currencies domiciliary account can be operated-in in Nigeria are Euros, Pounds, and US dollar.

  162. What time do fidelity bank close moneyGram cash transfer daily pls and what are the requirements for sending cash from Nigeria to Ghana…… Thanks

    1. Hello Afolabi,
      I don’t know. The best thing is to go to the bank early in the morning if you wish to send money through MoneyGram. For the requirements, it is necessary you have an account with them and a valid identification.

    1. Hello Esther,
      A good option will be via domiciliary account if he has one or he can open one. With domiciliary account, he can send up to $ 10,000 per day to you. I don’t trust any third party agent. So, I wouldn’t suggest any one here.

  163. Dear Emma, I do buy garment from Cotonou and since I can’t send money through western union money transfer. Pls what is the easiest way so I can keep my business running regularly.

  164. Please what is the best way to send small amount of money like 10000 or 20000 naira to China and the charge rate for it. Reading so many ways of sending money is getting me confused.

    1. Hello Anonymous,
      You can use Western Union money transfer, MoneyGram or PayPal account to send the money. To use MoneyGram, visit the bank (Firstbank, UBA etc) early in the morning; as earlier as 8.00am when banks opens office. If you don’t go early, the bank will tell you that they have exceeded their daily maximum transfer limit. With Moneygram, you can send up to 190,000 Naira with a transfer charge of 16400 naira. You can do the remaining calculation yourself. If you have a Paypal account link to your bank account can send up to $5000 with a transfer charge of about $250. You can also do the calculation yourself. For Western union, this is done batch by batch so as to exceed their monthly transfer limit.

  165. pls is it possible to withdraw my money in rand because it was sent in naira to me from Nigeria with my first bank account. can I withdraw with my ATM or master card here in south Africa?

    1. Hello Franklin,
      You can NOT withdraw the money in Rand because the money is in Naira. With your Naira MasterCard, you can withdraw the money (in Naira) in South Africa through ATM or other POS.

  166. OK
    so greatful
    wat of if the money is sent in rand from Nigeria will I be able to withdraw it here in SA in rand?. bcoz #20,000 was sent to me I went to the ATM the money is now In rand. how can I get the money please or how can my parents send me money from Nigeria to South Africa for me to be able to withdraw In rand

  167. please i want to send 50$ from Nigeria to India please what means is advisable for me to send it coz i went to different banks they keep telling me they can only recieve western union transafer but i cant send…any help you can do for me about that?

    1. Hello Idsquare,
      The problem with Western Union money transfer and MoneyGram these days is that there are lot of queue because of the low daily maximum transfer limit. People now book for sending out money abroad ahead of time. So I will suggest, if it is not urgent, visit any first bank close to you as early as 8.00am and tell them you want make an outbound transfer with either Western Union or MoneyGram. If they tell you that they are done for the day or it’s not going through, tell them to give you the western union transfer form to fill and the day you will come back to send the money to India.

      You can also send the money through PayPal account depending on how the receiver intend receiving the money. With PayPal, you can send up to $5000 at transfer charge of about $250.

  168. I want to send like 10.000 dollas to a friend abroad for a car we want to go into car business hoe can we do it so we can get the dolla sent to america at cbn rate or is there limit on it please someone should put me through because the 360 naira to dolla rate at the black market is too high i wount make any profit

    1. Hello Anonymous,
      “Following the severe pressures on external reserves and foreign exchange supply crises, the CBN abandoned its fixed exchange rate policy in favour of a flexible and multiple market models, which implied a floating exchange rate regime”. What this implies is that; you will likely not get any commercial bank in Nigeria sending out money at the exchange rate of N197/$ or N199.05/$. Though, I know that some few bank still maintain it pending when CBN will give details of implementation procedure for new exchange rate.

        1. Exercise patient, Mayowa; before this weekend CBN will likely release the new flexible exchange rate. There is this speculation that the new flexible exchange rate will be N280/$ while the parallel market rate will be N320/$. This is Not yet confirmed. So, lets keep our fingers crossed!

  169. I’m currently in Canada expecting #2m From Nigeria but sending it is the most difficult thing on earth right now..Can u please enlighten me on how to make reasonable sum out of it..@least CAD8k wount be bad..but with d black market rate moving up to #262..please what can I do to get reasonable amount out of the money the sender is sending to me

    1. Hello Abdul,
      Unfortunately, the usually official exchange rate of N199.05/$ is rarely obtainable these days as CBN proposed floating exchange rate. I would have suggest you go through third party outbound money transfer service agent but I don’t trust any of them especially these days.

      Moreover, we are currently reviewing most of these third party outbound money transfer service agents and other means of money transfers outside the usually bank wire transfer via domiciliary account, PayPal, Western Union, and MoneyGram; We hope to come out with better legitimate options of money transfer.

  170. Hello Emma
    Please let me know if there are any updates on transferring money from Nigeria to the US last time I told you my father sent me First Bank Nigeria First Cash MasterCard to me in the USA. I’ve been going to the ATM to withdraw money but I noticed that I could not even take out the 300. First time said $280 then the last time it said $260 which makes me think that they were taking over $20 in fees. Do you know anything about this? Thank You so much.

  171. Hello,

    Please i have a question. I applied to a school in Russia and my application was successful. Now i want to pay my tuition fees. I recieved details from the school but i am confused. This are the details as they are written in the paper.

    Intermediary bank (correspondent bank field 56)
    -Account name
    -Swift code

    Account with institution ( beneficiary’s bank field 57)
    -Account name (different bank account)
    -Swift code
    -Account number

    Beneficiary field (field 59)
    -University name
    -Account number

    Please what do they mean and how can i make the payment?

    Best Regards

  172. Hi , please what is the exchange rate of money gram and western union ?, (if am sending 7300 rupee to indian using money gram and western union , what is the equivalent in naira).?

    1. Hello Gafar,
      Exercise patience, at the close of today’s interbank exchange market I will update you. The new CBN Flexible exchange market regime starts today.

  173. Hello Sir, Good day
    In the aspect of the article where you talked about using a domiciliary account to transfer money you explained that within 48-72 hours that the sender would receive a message that the amount sent has been deducted from the senders DOM account , from your experience how long could it take for the receiver to receive the money in his account abroad ? thanks

    1. Hello Gafar,
      7300 Indian rupee is equivalent to 30218.82 Naira ( according to today’s bank unified exchange rate. Western union charges about 16,800 naira per $ 1000 transfer. Please, you can do the calculations and conversion yourself for the amount you want send to Indian. $1 = N280, 1 Indian rupee = 4.14 Naira

  174. Please MR. EMMA ONWUKA, am a GREEN ON when it comes to foreign currency ,can u please do the calculation for me and let me no what could be their extra charges with the amount am sending .
    And also is it dollar am I going to convert it to or India rupee?(the person that am sending to , want rupee). I will highly appreciate if I can get quick reply.

    1. Hello Gafar,
      You will be sending 30218.82 Naira and about 4,000 naira transfer charge; making a total of 34218.82 naira. However, the bank will do a better a calculation than I have done due to floating exchange rate.

  175. Bro, what info do I have to provide to a sender sending below 500USD in India money to Nigeria via money gram.
    Thanks in advance

    1. Hello Gafar,
      That’s Western Union money transfer. Remember, exchange rate is Not stable these days; it changes every hourly and that can affect the amount you are sending.

  176. Hi Emma,
    I just stumbled on your page because of the difficulty in getting money out of nigeria.
    Am in netherland and it’s so frustrating as my dad gets stranded in sending me money.

    Please if you can send your contact to me ( my mailbox )so I can send to my dad to meet up with you in person.

    Thank you

  177. Hello,pls am in ghana and my mum wants to send my school fee thru western union bt dey keep tellin her they av reach dia limit for d day,pls my question is if she has to queue for d transfer will she fill d form nd also drop d money with d bank..tanx

    1. Hello Nike,
      Yes, she has to fill the form, drop it and the money with the bank. She can asked them when to come back to confirm if the money has been transfer.

  178. Hello Emma. I am interested in helping Nigerians solve this problem of sending money abroad, either for tuition, or upkeep etc. I am currently looking at the modalities, as I don’t want to be arrested by the CBN for money laundering.
    I already have a way CHEAP to send money abroad, but the limitation lies on the limit my bank placed on my debit card. The method is easy, fast and secure.
    I will like you to send me a mail, and possibly your phone number so we can discuss this further.

  179. Hello ayeni and Emma onwuka, id like to be keyed into this modality as i currently have over 400 students in Rapid demand who would gladly utitlize these avenues if it works.

  180. Hello, Ayeni and Emma. I currently have a strong market of about 400 students and counting who would make use of yor service of cheap money sending if it works. Do contact me please.

    1. Thank you Mayowa. Please, kindly be patient, as myself and Emma are working overtime to provide a solution to these problems. The options available right now are not that efficient. We want to be able to send money today, and the recipient receive the money today (within 20seconds to 6hrs).
      Once again, please be patient.

      1. my email address is collinopedia@gmail.com.
        Whats yours?

        You have to seek the permission of the admins of this site before posting your email for any purpose outside helping our readers here. We strongly protect the interest of our readers here.

  181. Gud aftunun emma,pls wat is d current exchange rate for naira to cedis bcos am seeing 100naira is 1cedis 40pesewas….pls is dis true

  182. Hello Emma.
    Please we want to buy some things worth about 2M NGN from USA. What is the best way to go about it? I am convenient with any method that gets the money to USD or GBP at good value.

  183. Hello bro..I want to know if the FORM A is back working as of today…..and if there is any hope that it will be bback anytime soon…so my dad can pay my fees from nigeria

  184. Hello Emma,

    I just went through the threads and noticed you are working on cheaper ways to send money from Nigeria abroad for students.

    I trade forex and can send money to most part of the World apart from Asia and other African Countries.
    We always prefer to transact business from a bank branch which gives both sides peace of mind.
    Pls do get in touch.

    1. Please Funmilayo.
      I love to speak with you.


      Hello Nathan,
      We have deleted your email address from this comment because you didn’t state why you want Fumilayo to contact you. We protect the interest of our readers. You are expected to reach the admins privately if there is any need for that.

  185. Can i transfer naira from nigeria and get it as dollars in another country at normal rate
    Or is there any organization or bank that will sell dollars at normal rate for me

    1. Hello solaogedengbe,
      1. You can not transfer naira from Nigeria and get it in dollar in another country.
      2. there is no organization or bank that sell dollar at normal rate.

  186. Hello Emma,

    My Dad wants to send money from Akwa Ibom, Nigeria to me in U.K. Please what can you suggest. He used to send money via Zenith bank until they suspended international a.t.m transactions in June.

    Best regards

  187. Hello sir ,

    A friend in India wants to send $5000 to me via Western union .Am also expecting $500 from my uncle in Turkey .Please I want to know if I can receive this different amounts the same day .Please reply to me soom

    1. Hello Cyril,
      Yes, you can receive the different amounts the same day and you can also not receive them the same day. The route (India and Turkey) where those money are coming from are not the same, so you don’t expect to receive the two amounts the same day assuming the money was transfer the same day. However, the discrepancies in days will not be much if they were sent the same day.

  188. Hi Emma. Its been a while.
    The progress made so far is not much. I have been trying hard to get at least three companies to work with, but most of them, don’t allow/accept transfers from/to Nigeria.
    The other method I currently have (which is working perfectly), will require us to sell Dollars at around N390/395 per $1. This is due to the current exchange rate of the dollar to Naira. If things improve, the rate might drop. More so, I am still working on my won personal fail proof system of money transfer, but it will get operational around September and mid October, and we will be able to sell cheap.
    Let me know how you want us to progress.

    1. Hello Ayeni,
      N390/395 per $1 should be black market rate and NOT the official bank rate. This will not be favourable to us. At least, getting the transfer at official rate with charges then added will be better. Most importantly, I am particularly concern with high volume transfer. Lets keep working and as soon as you get your own proof system of money transfer, let me know.

      1. Yes Emma, its the Black market rate as the govt, CBN and banks are collaborating seriously (I mean seriously) to frustrate ALL means of FX transfer out of the country. Even for Multinational corporations, FX is no longer available.