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

  1. 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,
      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.

  2. 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,
      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

  3. 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

  4. 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.

  5. 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

  6. 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.

  7. 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 [email protected] 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.

  8. 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!

  9. 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.

  10. 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

  11. 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.

  12. 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.

  13. 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.

    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.

  14. 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.

  15. 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’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.

  16. Hi Emma,

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

  17. 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.

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

  19. 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.

  20. 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.

  21. 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

  22. 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.

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

  24. 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?

  25. 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.

  26. 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..

  27. 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.


  28. 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?

  29. 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.

  30. 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.

      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

  31. 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

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