Author Eyitemi Efole
Remittances are a lifeline for Nigeria’s economy, contributing billions annually to household incomes and economic growth. With over $19 billion received in 2021, the demand for efficient and affordable money transfer services has never been higher. In 2025, navigating the options for sending money to Nigeria can be overwhelming. This guide simplifies the process, helping you choose the cheapest ways to send money to Nigeria while maximizing value for your recipients. Whether you’re supporting family or conducting business, this guide covers you.
Key Factors to Consider When Sending Money to Nigeria
Before you make an international bank transfer, be sure to weigh these important factors to maximize your value:
● Fees: Compare providers like Wise and Remitly, which often have lower fees than traditional banks.
● Exchange Rates: Competitive rates from providers like WorldRemit ensure your recipient gets more Naira.
● Transfer Speed: Opt for instant or same-day transfers with services like Sendwave.
● Delivery Methods: Choose which international bank transfer platforms like Western Union, bank deposits, mobile wallets, or cash pickups based on convenience.
● Security: Always use regulated providers to protect your funds.
Top Money Transfer Providers for Nigeria in 2025
In 2025, the landscape of money transfer services in Nigeria will be more diverse and competitive than ever. Below is an in-depth look at the best money transfer apps and platforms, highlighting their unique features, strengths, and why they stand out. Find out which provider is best for you today!
1. TransferGo
TransferGo is a trusted international money transfer service that offers fast and low-cost bank transfers to Nigeria. With zero hidden fees and highly competitive exchange rates, it ensures that recipients receive the maximum value from each transaction. TransferGo supports instant bank deposits and card transfers, providing users with multiple options to send money seamlessly. Known for its reliability and ease of use, the platform also features multilingual support and real-time tracking, giving users peace of mind when sending funds to loved ones in Nigeria.
➡ Start your transfer now and send money instantly!
2. Remitly
Remitly is a popular remittance service that enables users to send money to Nigeria from the USA, UK, Canada, and other countries with low-cost, fast transfers. The platform offers multiple delivery options, including bank deposits, mobile wallets, and cash pickups at trusted locations. One of its standout features is its two-speed transfer options:
- Express (faster, with a small fee)
- Economy (lower fees, slightly longer processing time)
New users benefit from promotional exchange rates and fee-free first transfers, making it an attractive choice for first-time senders. With its secure and user-friendly mobile app, Remitly ensures that sending money to Nigeria is quick, convenient, and cost-effective.
🚀 Sign up today and send money with ease!
3. Nala
Nala is an emerging leader in the African remittance space, offering fast, secure, and cost-effective money transfers. With a strong focus on competitive exchange rates, Nala allows users to send money directly to Nigerian bank accounts and mobile wallets. The platform prioritizes transparency by showing users the exact amount their recipients will receive, eliminating hidden fees.
💸 Start sending with Nala today and enjoy seamless transfers!
4. Sendwave
Sendwave is a widely recognized remittance service known for its zero-fee transfers and instant delivery to Nigerian bank accounts. Designed as a mobile-first platform, it simplifies the process of sending money, making it as easy as sending a text. Sendwave prioritizes affordability and speed, making it a go-to choice for Nigerians in the diaspora who need a reliable way to support loved ones back home.
5. Taptap Send
Taptap Send facilitates fast and fee-free money transfers from various countries to Nigeria, ensuring instant delivery to Nigerian bank accounts. Its user-friendly mobile app makes sending money effortlessly, with real-time exchange rates and no hidden costs. Taptap Send also offers multilingual support, catering to a diverse global audience looking for a simple way to remit funds.
6. LemFi
LemFi, formerly known as Lemonade Finance, is designed specifically for the African diaspora, enabling seamless and cost-effective money transfers to Nigeria. With zero transfer fees, competitive exchange rates, and support for both bank deposits and peer-to-peer transfers, LemFi ensures flexibility. Users can hold balances in multiple currencies, making cross-border transactions smoother and more convenient.
🔹 Download LemFi and start sending money with zero fees today!
7. Afriex
Afriex stands out by leveraging blockchain technology to facilitate fast, secure, and low-cost remittances to Nigeria. It offers real-time exchange rates and instant transfers, making it an attractive option for users looking to avoid the traditional banking system’s delays and high fees. Afriex also enables users to store money in USD or other currencies, helping them hedge against currency fluctuations.
8. Western Union
Western Union remains one of the most trusted and established names in global money transfers, offering both online and cash pickup options across Nigeria. With an extensive agent network, even in remote areas, Western Union provides accessibility and convenience for recipients. Users can send money through bank deposits, mobile wallets, or in-person at retail locations, ensuring flexibility for both senders and receivers.
🏦 Send money with Western Union—trusted worldwide!
9. WorldRemit
WorldRemit is a digital-first remittance service offering multiple ways to send money to Nigeria, including bank transfers, mobile money, and cash pickups. Known for its competitive exchange rates, WorldRemit enables instant or same-day transfers, ensuring recipients get their funds quickly. The platform’s transparent pricing and secure transaction process make it a popular choice for international money transfers.
10. MoneyGram
MoneyGram provides secure, fast, and reliable international money transfers to Nigeria, with multiple options such as bank deposits and cash pickups at thousands of locations nationwide. The service is known for its robust security measures and competitive exchange rates, making it a trusted option for both personal and business remittances. Find the best FX rates now!
Comparison of Providers
| Provider | Fees | Speed | Delivery Methods | User Experience | Key Features |
|---|---|---|---|---|---|
| TransferGo | Zero fees | Instant | Bank, Card | Excellent | Free transfers, user-friendly app |
| Remitly | Low | Same-day | Bank, Cash Pickup | Great | Promotional rates, high security |
| Nala | Low | Fast | Bank, Mobile Wallet | Good | Focus on Africa, easy-to-use app |
| Sendwave | Zero fees | Instant | Bank, Mobile Wallet | Excellent | Zero fees, instant transfers |
| Taptap Send | Zero fees | Instant | Bank | Excellent | No fees, community-focused |
| LemFi | Zero fees | Instant | Bank, P2P | Great | Africa-specific, competitive rates |
| Afriex | Low | Fast | Bank | Good | Blockchain-based, real-time rates |
| Western Union | Medium | Fast | Bank, Cash Pickup | Good | Global reach, reliable |
| WorldRemit | Low | Instant | Bank, Mobile, Cash | Excellent | Competitive rates, multiple options |
| MoneyGram | Medium | Fast | Bank, Cash Pickup | Good | Secure, global presence |
Other Money Transfer Options
● Traditional Bank Transfers: High fees and slow processing times make them less attractive.
● Mobile Money Services: While M-Pesa isn’t available in Nigeria, platforms like Paga and Opay are gaining traction.
● Cryptocurrency Transfers: Bitcoin and stablecoins offer fast transfers but come with volatility and regulatory risks.
Tips for Saving Money on Transfers
● Compare Rates: Use tools like NairaCompare to find the best deals.
● Time Your Transfers: Monitor exchange rates to send when the Naira is strong.
● Avoid Hidden Fees: Choose transparent providers like Wise.
● Use Promotions: Take advantage of fee-free first transfers from Remitly and WorldRemit.
● Send Larger Amounts: Some providers offer better rates for bigger transfers.
Security Considerations
● Use Reputable Providers: Stick to regulated services like WorldRemit and Western Union.
● Protect Your Data: Avoid sharing sensitive information on unsecured platforms.
● Beware of Scams: Verify transfer notifications and avoid unsolicited offers.
Understanding IBAN vs SWIFT Code
When making international bank transfers, it’s crucial to understand the difference between IBAN and SWIFT Codes. IBAN (International Bank Account Number) is used primarily in Europe, while SWIFT codes identify specific banks globally. Most transfers to Nigeria require a SWIFT code.
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Future Trends in Money Transfers to Nigeria
● Fintech Innovations: AI and blockchain are revolutionizing cross-border payments.
● Mobile Money Growth: Platforms like Paga and Opay are expanding access to financial services.
● Regulatory Changes: The Electronic Money Transfer Levy may impact costs.
Conclusion
Sending money to Nigeria in 2025 is easier and more affordable than ever, thanks to innovative providers like Remitly, Sendwave, and WorldRemit. You can ensure your recipients get the most value by comparing fees, exchange rates, and delivery options. Stay informed about IBAN vs SWIFT Code, security best practices, and emerging trends in money transfer. Prioritize secure and cost-effective solutions to make the most of your remittances.
Visit nairacompare to find the best FX rates for your money transfers.
Eyitemi Efole
Eyitemi Efole is a results-driven marketer with expertise in brand management, strategy, and operations. Currently at nairaCompare, she focuses on campaign execution, public relations, and customer engagement to boost brand awareness and growth. With experience across industries like finance and insurance, Eyitemi excels in strategic planning, digital marketing, and team collaboration, helping brands build credibility and connect with their audience.
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