Send Money to Nigeria Cheaply

Information verified correct on October 25th, 2016

Get a competitive exchange rate and pay minimal fees when you send money to Nigeria

Regardless of whether you’re sending funds to relatives, helping out an Aussie tourist travelling through Nigeria or any other reason, you have a number of options to consider when it comes to transferring funds.

The amount of choices available can be a little bit confusing, so read on to find out how to transfer your funds in a safe, secure and affordable way.

Find out whether you should use a bank or transfer service

Although you may want to transfer funds via your bank, many Australian banks will not allow you to send money to Nigeria.

Rates last updated October 25th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
WorldRemit international money transfers
WorldRemit international money transfers
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. AUD 0 Within an hour Online, Bank Account to Bank Account, Cash Transfer Go to site More
TransferWise International Money Transfers
TransferWise International Money Transfers
Make online transfers with transparent exchange rates, low fees and low minimum amounts. AUD 1 1 day Online Go to site More

The Nigerian Naira (NGN) is far from a commonly traded currency around the world, but some banks such as Commonwealth Bank do allow transfers to this African nation.

However, using your bank for an international money transfer is typically not the most cost-effective option. Instead, you will be much better off financially if you use the services of a specialist money transfer provider. These companies offer far better exchange rates than banks, along with much lower fees and faster processing times. This can result in a saving of time, money and stress for you.

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Case Study: Ben Sends Money to Nigeria

Ben wants to transfer $1,000 to his friend Hope. Hope lives in Nigeria and Ben is looking to repay an old debt. His bank offers international money transfers to Nigeria, but Ben rightly believes that he can save some money if he uses the services of a money transfer company. He decides to compare the cost of using his bank with the expense involved in using a money transfer provider.

BankMoney Transfer Company
Exchange rate1 AUD = 145.14 NGN1 AUD = 149.72 NGN
Transfer fee$25$14
Transfer time2-5 daysWithin 2 days
Transfer optionsOnline, cash pickupOnline
Amount received for $1,000 (in NGN)145,140149,720

As the table shows, Ben pays a smaller fee when using a money transfer company and is also able to send an extra 4,580 NGN.

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Compare transfer companies more effectively with these tips

Ben’s example above demonstrates the importance of weighing up the pros and cons of different money transfer options, so compare the following features when making your decision.

  • Exchange rates. You’ll obviously want to find the best available exchange rate for your transfer, but keep in mind that some companies with lower rates may also offer lower fees.
  • Transfer fee. You can usually expect to pay a fee for your transfer, which could be a flat amount or a figure calculated as a percentage of the amount you are sending. However, some companies will waive fees for transfers in excess of a certain amount.
  • Transfer methods. Check to see whether there are multiple transfer methods available, such as online, over the phone or by visiting a branch.
  • Transfer options. Can you schedule regular payments well into the future? Are forward contracts and limit orders offered to allow you to cash in on market fluctuations?
  • Transfer time. If you’re sending an emergency transfer, the ability to have your cash picked up by your recipient within minutes is a big advantage.
  • Pickup methods. Can the cash be picked up in person from an agent location or branch, or is everything handled online?
  • Minimum transfer amounts. Be warned that some companies will require you to meet a certain minimum transfer amount in order to process your transaction.
  • Customer service. Is there a call centre, an online help centre and online live chat? It’s important to have assistance on hand whenever you need it.
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Send money to Nigeria from Australia in the way which suits you

When you’re looking to send money to Nigeria, consider the following options.

  • Bank to bank transfers. While most banks don’t allow you to transfer Australian dollars into Nigerian Naira, your bank may allow you to send Australian Dollars which can then be converted into the local currency by the receiving bank.
  • Money transfer providers. WorldRemit, Western Union and MoneyGram allow you to send funds to Nigeria quickly and easily, with the money able to be picked up at multiple locations across the country within minutes.
  • Online money transfer companies. Specialist providers like WorldRemit and TransferMate offer attractive exchange rates and minimal fees on international money transfers.
  • International money orders. Another option is to get an international guaranteed cheque from your bank.
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Need emergency cash in Nigeria? Follow these tips

While sometimes you can afford to wait a few days for your international money transfer to be processed, there are occasions when you need your funds to arrive as quickly as possible. When this occurs, you need to remember to take caution and double check all the details of your transfer. Make sure you are aware of the exchange rate you will be receiving, any fees that apply to your transfer and how long it will take for your cash to arrive.

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Get your hands on emergency cash in Nigeria at these locations

Both Western Union and MoneyGram allow you to transfer funds which can then be picked up from many agent locations all across Nigeria. If you’re picking up a big sum of cash, you may need to check with an agent in advance to make sure they will have sufficient cash on the premises to give to you. You’ll also need to supply proof of ID, for example your driver’s licence, and some details of your transaction.

Western Union

  • Lagos

    Abibu Oki

    29/32 Abibu Oki Street
    Off Broad Street
    Lagos, Lagos 23401
    Phone: +234-01-7616622
    Open 8am to 6pm Monday to Saturday

  • Access Bank PLC

    Block B Nnpc Towers Herbert
    Abuja, Lagos
    Phone: +234-012710012
    Open seven days 8am to 5pm

  • Kano

    Access Bank PLC

    Katin Kwari Ibrahim Taiwo Road
    Phone: +234-012710012
    Open seven days 8am to 5pm

  • Afribank Nigeria PLC Misau

    Misau, Kano
    Phone: +234-1-2712300
    Open 8am to 5pm Monday to Friday


  • Lagos

    Enterprise Bank Limited

    House 1 Motor Olupese Rd Oshodi
    Lagos, 0
    Phone: 234012629269
    Open 8am to 5:30pm Monday to Friday, 10am to 3pm Saturday

  • United Bank for Africa

    Ikota VGC Shopping Complex
    Lagos, 0
    Phone: 23488223445
    Open 8am to 5pm Monday to Friday

  • Kano

    Ecobank - Kano City

    Abdullahi Wase Road By Shahuchi Pry Sch.
    Phone: 17613794
    Open 8am to 5pm Monday to Saturday

  • FBN - Kano Main

    Lagos Street 10
    Kano, 0
    Phone: 23419052667
    Open 8am to 5pm Monday to Friday

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Pick up cash safely when in Nigeria

According to the Department of Foreign Affairs and Trade, Nigeria is a very dangerous part of the world and Australians should reconsider their need to travel to the region. With this in mind, if you do find yourself picking up cash in Nigeria you need to take extreme care. Take another person with you for security and extra protection, making sure not to publicly advertise the fact that you are picking up a large sum of cash. Avoid any areas where trouble is known to occur and deposit the funds into your bank account as soon as is humanly possible.

For more tips on travelling safely to Nigeria, browse online forums and blogs to discover a wealth of information.

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Get started with a transfer to Nigeria

From bank transfers to specialist international money transfer companies, you have a whole host of options to choose from when you need to send money to Nigeria. While the transfer process will differ depending on which service you use, you will often need to open an account with your chosen provider before you can transfer the funds. This means you will need to supply details such as your name, date of birth, contact information and your driver’s licence.

When you lodge a transfer you will be given a receipt or tracking number, allowing you to monitor your transaction to completion.

It’s quick and easy to transfer funds to Nigeria, but it’s important that you compare all the available options before deciding on the right company for you. Doing so will ensure that you can send money overseas in the most cost-effective manner.

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4 Responses to Send Money to Nigeria Cheaply

  1. Default Gravatar
    george | August 20, 2015

    Hi, I’m going to Lagos, Ikea, Nigeria. Will I be able to withdraw funds from a Commonwealth key card?

    • Default Gravatar
      How | September 10, 2015

      I want to send money to Nigeria but it’s already in pounds and I’m in Chicago. How do I send it without having to change it?

    • Staff
      Shirley | September 14, 2015

      Hi English Pounds,

      Thanks for your question.

      Unfortunately due to the mechanics of an online international money transfers, the funds are required to be converted from the domestic currency to the foreign currency in the process.

      We don’t know of any process where you could send it without having to convert it.

      Sorry that we couldn’t be much of an assistance.

    • Staff
      Belinda | August 20, 2015

      Hi George,

      Thanks for your enquiry.

      Depending on the Commonwealth Bank product that you’re referring to, it may be possible for you to withdraw funds when you’re in Nigeria.

      You can read our Commonwealth Bank travel money guide on this page to find out more about using your existing card overseas.


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