A practical guide for anyone sending money to Nigeria from Canada, the UK, the US or Europe: recipient details, payout types, costs, regulation and scams.
Short answer: get your recipient's 10-digit NUBAN, account name and bank or fintech name right, expect them to receive naira, and check that the provider is registered where you live. How much the provider choice matters depends on where you send from: in our data the typical gap was 2.6% from Canada, 1.18% from the US and 0.92% from the UK. A transfer app usually costs less than a bank.
How we checked. We used CheckRate's own records of published rates for CAD, GBP and USD to NGN between May and October 2026, the World Bank's Remittance Prices Worldwide report for Q1 2025, providers' own Nigeria pages, and the regulators' registers in Canada, the UK and the US, checked between 9 and 11 October 2026.
Corrections. An earlier version of this guide said LemFi, Taptap Send and Sendwave are consistently the cheapest. Our data does not show that; the provider at the top varies by corridor and by day. It said Sendwave pays to OPay and PalmPay, which Sendwave's Nigeria page does not list. It described a CBN rule change without a source, and gave bank fees and maintenance windows without a source.
CheckRate is not paid by the providers named here, and our links go to their public websites.
This guide does not rank providers. For rankings from our data, see the corridor guides linked below.
What your recipient needs to give you
Most transfers to Nigeria go to a bank or fintech account. Ask your recipient for three things:
For cash pickup, ask the provider what the recipient must bring, and use their full name exactly as they gave it.
Your recipient will receive 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. Plan on naira. Sendwave's Nigeria page also says US dollar remittances to Nigeria, including to domiciliary accounts, are no longer permitted by the Nigerian central bank. If your recipient was used to dollars landing in a domiciliary account, warn them before you send.
Payout types
There are three main ways the money can arrive.
Check that the provider pays to your recipient's institution before you compare rates. The highest rate is no use if it cannot reach the right account.
How much the provider choice matters, by corridor
The gap between the highest and lowest published rate tells you how much shopping around is worth. It differs a lot by where you send from.
| Sending from | Corridor | Days and period | Median gap, highest vs lowest | Guide |
|---|---|---|---|---|
| Canada | CAD to NGN | 98 days, 18 May to 10 Oct 2026 (days with 5 or more providers) | 2.6% (about NGN 13,000 on CAD 500) | Canada to Nigeria |
| United States | USD to NGN | 103 days, 14 May to 11 Oct 2026 | 1.18% | US to Nigeria |
| United Kingdom | GBP to NGN | 103 days, 14 May to 11 Oct 2026 | 0.92% | UK to Nigeria |
In plain terms: from Canada, comparing providers is worth the most effort. From the UK, providers are closer together, so payout fit and regulation can carry more weight. The US sits in between.
These are published rates, not the exact app quote for every amount or payment method. Wise is not in these figures because it charges a separate fee at checkout that our records do not capture, and Remitly figures use its standard rate, not first-transfer promotions. Our records have a gap in September 2026. Rates, fees, delivery times and the amount received all change, so check the live page for your corridor: CAD to NGN, GBP to NGN, USD to NGN or EUR to NGN.
If you are deciding between LemFi, Taptap Send and Sendwave, see LemFi vs Taptap Send vs Sendwave.
Why banks usually cost more
The World Bank tracks the total cost of sending the equivalent of USD 200. In Q1 2025 (Remittance Prices Worldwide, Issue 53):
| Type of sender | Average total cost |
|---|---|
| Banks | 14.55% |
| Money transfer operators | 5.04% |
| Digital-only money transfer operators | 3.55% |
| Global average | 6.49% |
| Sending to Sub-Saharan Africa | 8.78% |
These are averages across many corridors, not Nigeria-specific prices, and a given bank or app can be cheaper or dearer. The pattern is still clear: banks were the costliest channel on average. Whichever you use, compare the final naira amount, not just the fee. Our remittance fees explainer explains exchange rate margins.
US senders: a 1% federal remittance tax started on 1 January 2026, but IRS Notice 2025-55 says it applies only when the sender pays with cash, a money order, a cashier's check or a similar physical instrument. Proposed regulations published on 13 April 2026 say there is no tax when the transfer is funded from a bank account or a US-issued debit or credit card.
Check the provider is registered where you live
Regulation depends on the country you send from, not on Nigeria. Search the firm's legal name on the register below and check it matches the app you use.
| Where you live | Where to check | What it means |
|---|---|---|
| Canada | FINTRAC MSB registry and Bank of Canada PSP registry | FINTRAC is anti-money-laundering registration. Bank of Canada supervision requires firms to safeguard customer funds they hold. Neither is CDIC deposit insurance. |
| United Kingdom | FCA Register | E-money firms must safeguard customer money in segregated accounts. The FSCS does not cover them (FCA). |
| United States | NMLS Consumer Access and FinCEN MSB search | Check your state is covered on NMLS. |
We have not checked European registers for this guide. If you send from Europe, look up the provider on your national financial regulator's register.
US senders also have rights under the CFPB Remittance Rule: 30 minutes to cancel for free unless the money has already been picked up or deposited, and 180 days to report an error.
For provider-specific checks, see Is LemFi safe?, Is Taptap Send safe? and Is Sendwave safe?.
Scams: verify before you pay
The main risk is paying the wrong account yourself, for example after a message saying a relative has a new account number.
Checklist before you send
Frequently asked questions
What if my recipient only gives me a phone number?
Ask for their 10-digit account number and the institution name as well. Taptap Send, for example, pays fintechs such as OPay and PalmPay by bank transfer, which needs those details.
How do I know how much naira will arrive?
Look at the naira figure on the provider's quote screen before you confirm. That is the number to compare across apps, and to share with your recipient.
My recipient uses OPay. Which providers can pay there?
Check each provider's own list of Nigerian institutions before you pay. Taptap Send names OPay on its list; Sendwave lists no mobile wallets for Nigeria.
Is it worth comparing providers every time?
From Canada, usually yes, because the gap in our data was widest there. From the UK the providers sat closer together, so a provider that suits your recipient may be fine; the UK guide has the detail.
Should I just use my bank to keep things simple?
Banks were the costliest channel on average in the World Bank figures above. If you prefer your bank, ask for the naira amount your recipient will receive and compare it with an app quote on the same day.
What should I do if I sent money to a scammer?
Contact the provider straight away. US senders should act within the CFPB's 30-minute cancellation window where possible; UK senders should not rely on the APP scheme described above.
Sources
Related: Send money to Nigeria · Canada to Nigeria · UK to Nigeria · US to Nigeria · LemFi vs Taptap Send vs Sendwave
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.