Rate to Remit

Sending money

Send money to Nigeria

The published rate for each country people send from, and what sits between that rate and the amount that arrives in Nigerian naira. Source: Central Bank of Nigeria, 2026-10-30.

What to know about receiving money in Nigeria

Recipients are paid in naira, not in dollars

Under the Central Bank of Nigeria's guidelines for international money transfer operators, an IMTO may make payouts only in naira, not in foreign currency. Older rules allowed either. A recipient therefore cannot elect to take a transfer in dollars and hold it; the conversion happens on arrival, at the operator's rate. The CBN separately removed the band that had confined operators to within 2.5% of the previous day's closing rate, so the rate applied is a market rate rather than one pinned to an official figure.

This governs money arriving through a transfer operator. A domiciliary account at a Nigerian bank is a different arrangement with its own terms, and what it permits depends on the bank.

Aluko & Oyebode, on the CBN Guidelines on International Money Transfer Services · checked 2026-09-18

Where you are sending from

From the UK 1,802.91 NGN per GBP From the US 1,345.76 NGN per USD From Ireland 1,502.67 NGN per EUR From the UAE 366.38 NGN per AED

What these rates are

Each figure is the official central rate published by Central Bank of Nigeria official NFEM rate, reproduced unchanged. It is the reference point a transfer is priced against, not a quote: services add a fee and a margin on the rate, and the margin is usually the larger of the two. Every corridor page sets out both, with a worked example.