We tracked GBP to NGN rates from six providers over 103 days. On this corridor the providers sit close together, so payout options and regulation matter as much as the rate.
Short answer: on GBP to NGN, the providers we track are close. Across 103 days between 14 May and 11 October 2026, Pesa had the highest published rate on 63 days and Remitly (Economy) on 31, but the median gap between the highest and lowest rate was only 0.92%. Check the live rate on the day, then pick on payout method and how the firm is regulated.
How we checked. We used CheckRate's own records of each provider's last published standard rate of the day for GBP to NGN, from 14 May to 11 October 2026, counting days where at least 3 providers reported a rate. We checked the five UK firms named below on the FCA Register between 9 and 11 October 2026, and read each provider's own Nigeria page for payout options.
Corrections. An earlier version of this article said Taptap Send "consistently leads" GBP to NGN. Our data shows Pesa and Remitly at the top on most days. It also showed a May 2026 rate table with arithmetic errors, and gave UK bank fees and margins without a source; both are removed. It said Sendwave pays to OPay and PalmPay, which Sendwave's Nigeria page does not list. It described UK regulation loosely and said funds were "protected" without explaining that the FSCS does not apply.
CheckRate is not paid by the providers named here, and our links go to their public websites.
What our GBP to NGN data shows
We tracked six providers on this corridor: LemFi, Pesa, Remitly, Sendwave, Taptap Send and WorldRemit. Wise is left out of the daily comparison because it charges a separate fee at checkout that our records do not capture. Remitly figures are its standard (Economy) rate, not first-transfer promotions.
| Measure | GBP to NGN, 14 May to 11 Oct 2026 |
|---|---|
| Days counted | 103 |
| Median gap, highest vs lowest rate | 0.92% |
| Smallest and largest daily gap | 0.32% and 2.19% |
| Highest published rate seen | about NGN 1,787 to 1,894 per pound |
| Days at the top | Pesa 63, Remitly 31, LemFi 3, Sendwave 2, Taptap Send 2, WorldRemit 2 |
The table counts who was at the top. The average rank (1 is highest) tells you who was usually close behind, and who often finished last.
| Provider | Average rank | Days in last place |
|---|---|---|
| Pesa | 1.48 | 0 |
| Remitly (Economy) | 1.92 | 0 |
| Sendwave | 4.12 | 20 |
| WorldRemit | 4.18 | 8 |
| Taptap Send | 4.18 | 23 |
| LemFi | 4.45 | 40 |
Three things stand out. First, Pesa and Remitly were at or near the top on most days, and neither finished last on any day we counted. Second, LemFi was last on 40 days, the most of any provider, though it still led on 3. Third, the spread is small. A 0.92% gap on GBP 500 is roughly GBP 4.60, or about NGN 8,200 to 8,700 at the rates we saw. That is real money, but it is smaller than on our Canada to Nigeria data, where the median gap was 2.6% (measured on days with 5 or more providers).
The limits: these are published rates, not the exact app quote for every amount or payment method. Our records have a gap in September 2026, when our rate collector was offline. And the leader changes from day to day, so this is a record of the past, not a forecast. Rates, fees, delivery times and the amount your recipient gets all change; see the live GBP to NGN page before you send.
Where Wise fits
Wise works differently. It uses the mid-market rate and charges a fee you see at checkout. When we checked in October 2026, its GBP to NGN fee was about GBP 0.61 plus 0.546% of the amount. On GBP 500 that is about GBP 3.34. Because our records capture rates, not fees, compare the final naira amount on each quote rather than the headline fee. See our Wise profile and our explainer on how remittance fees work.
How these firms are regulated in the UK
All five firms below are listed on the FCA Register as an Authorised Electronic Money Institution.
| Firm on the FCA Register | Brand | FRN | Authorised since |
|---|---|---|---|
| Taptap Send UK Limited | Taptap Send | 900842 | 12 Mar 2018 |
| WorldRemit Ltd | WorldRemit, Sendwave (trading names SendWave and Zepz) | 900891 | 19 Oct 2018 |
| RightCard Payment Services Limited | LemFi (trading name Lemfi) | 900424 | 4 Apr 2018 |
| Pesapeer Payments Limited | Pesa | 931425 | 13 Jul 2021 |
| Remitly U.K., Ltd | Remitly | 1047222 | 11 Sep 2026 |
What that means in practice, according to the FCA's guide to payment service providers:
There is a second gap. The UK reimbursement scheme for authorised push payment (APP) scams does not cover international payments (PSR PS25/5, paragraph 3.3). If you are tricked into sending money to Nigeria, you should not expect that scheme to pay you back.
To check a firm yourself, search the FRN on the FCA Register and make sure the website or app you are using matches the firm and trading names listed.
What your recipient receives: naira
According to ThisDay, a Central Bank of Nigeria circular dated 24 March 2026 and effective 1 May 2026 requires money transfer operators to pay out through naira settlement accounts; ThisDay describes this as naira-only payout. We could not open the circular itself. Recipients should expect naira. Separately, Sendwave's Nigeria page says US dollar remittances to Nigeria, including to domiciliary accounts, are no longer permitted by the Nigerian central bank.
Nigeria payout options by provider
| Provider | Payout options listed for Nigeria | What the provider says about speed |
|---|---|---|
| Taptap Send | Bank transfer to 24 listed institutions, including GTBank, Access, Zenith, UBA, First Bank, Kuda, Moniepoint, OPay and PalmPay | "Under 2 minutes (95% of transfers)"; may take 2 working days to appear |
| Sendwave | Bank deposit to naira accounts; cash pickup at Access, Zenith and Fidelity Bank; no mobile wallets listed | Not stated on that page |
| LemFi | "Bank accounts and P2P"; mentions mobile money but names no wallet | "Usually within minutes" |
| Remitly | Bank deposit, cash pickup, mobile wallet | Not stated on that page |
| Pesa | Naira bank account or mobile wallet | Not stated on that page |
If your recipient banks with OPay, PalmPay, Moniepoint or Kuda, Taptap Send names those institutions on its list. If they want cash, Sendwave and Remitly list cash pickup. If the provider with the highest rate that day does not pay out the way your recipient needs, the small gap on this corridor means a close second usually costs little.
How to send money from the UK to Nigeria
Mistakes to avoid
Frequently asked questions
Is one provider always cheapest from the UK to Nigeria?
No. Pesa and Remitly led most days in our data, but four other providers each topped the table at least twice. Compare on the live GBP to NGN page on the day you send.
Is it worth switching apps to save 0.92%?
On small transfers the median saving is modest, so payout fit may matter more. On larger sums it adds up, and the daily gap reached 2.19% at its widest in our data.
What happens to my money if a UK transfer app goes bust?
Safeguarding is meant to keep customer money separate from the firm's own, but it is not a compensation scheme, as the FCA explains.
What should I do if I think I have paid a scammer?
Contact the provider at once. Do not assume you will be refunded, because the APP scheme limit described above applies to transfers to Nigeria.
Can my recipient still use a domiciliary account?
Plan on naira. Sendwave says US dollar remittances to domiciliary accounts are no longer permitted, so ask your recipient for a naira account.
Sources
Related: GBP to NGN live rates · Sending money to Nigeria: a practical guide · LemFi vs Taptap Send vs Sendwave · Is LemFi safe? · Send money to Nigeria
CheckRate Editorial Team
The CheckRate team records remittance providers' published exchange rates and compares them using provider terms and regulator records. We are not paid by the providers we compare.