Nigeria receives more remittances than any other country in Africa—over $20 billion annually. Whether you're supporting family, paying for school fees, or sending money for a special occasion, this guide covers everything you need to know about sending money to Nigeria in 2026.
Why Nigerians Abroad Send Money Home
The Nigerian diaspora is one of the most financially connected in the world. Common reasons for sending money include:
- Family support: Regular allowances for parents, siblings, and extended family
- Education: Paying school fees at all levels
- Healthcare: Medical bills and emergencies
- Business investments: Supporting family businesses or starting new ventures
- Special occasions: Weddings, funerals, and celebrations
- Property: Buying land or building houses back home
Methods for Sending Money to Nigeria
1. Bank Transfers
Traditional bank-to-bank transfers remain popular but often come with high fees and unfavorable exchange rates. Nigerian banks like GTBank, Zenith, Access, and First Bank all accept international transfers. However, you'll typically pay $25-50 per transfer plus poor exchange rates.
2. Mobile Money Transfer Apps
Modern remittance apps like Stratum Remit have revolutionized how people send money to Nigeria. Benefits include:
- Lower or zero fees: Stratum Remit charges zero transfer fees
- Better exchange rates: More competitive NGN rates
- Instant delivery: Most transfers arrive within minutes
- Convenience: Send from your phone anytime, anywhere
3. Mobile Wallets in Nigeria
- OPay
- PalmPay
- Kuda
- Moniepoint
This is especially useful for recipients who don't have traditional bank accounts.
Understanding the Naira Exchange Rate
The Nigerian Naira (NGN) exchange rate can vary significantly depending on where you exchange. As of 2026, the official rate and parallel market rate have converged more closely following CBN reforms, but you'll still see variations between providers.
Pro Tip: Stratum Remit's AI assistant Kora can alert you when exchange rates are favorable. Just say "Alert me when the Naira rate is good" and she'll notify you of opportunities.
How to Get the Best Exchange Rate
- Compare providers: Always check rates from multiple services before sending
- Avoid airport and bank exchanges: These typically offer the worst rates
- Time your transfers: Rates fluctuate daily—if you have flexibility, wait for favorable movements
- Set rate alerts: Use Stratum Remit's AI to monitor rates and notify you
- Send larger amounts less frequently: If fees are involved, consolidating transfers saves money
Timing Your Transfers
Best times to send money to Nigeria:
- Early in the week: Banks process faster Monday-Wednesday
- Before month-end: Avoid the rush when everyone is sending allowances
- During business hours: For fastest processing, send during Nigerian banking hours (8 AM - 5 PM WAT)
Required Information for Transfers
To send money to a Nigerian bank account, you'll need:
- Recipient's full name (as it appears on their account)
- Bank name
- Account number (10 digits)
- Recipient's phone number (optional but recommended)
For mobile wallet transfers, you'll typically just need the phone number linked to their wallet.
How Stratum Remit Makes Sending to Nigeria Easier
With Stratum Remit, you don't need to remember account numbers or navigate complicated menus. Simply tell Kora, our AI assistant:
"Hey Kora, send $200 to Mom in Lagos"
Kora will: 1. Find your mom in your saved recipients 2. Show you the current exchange rate 3. Tell you exactly how many Naira she'll receive 4. Ask for one-tap confirmation 5. Send the money instantly
It's the easiest way to send money to Nigeria—and you'll never pay a transfer fee.
Safety Tips for Sending Money to Nigeria
- Use licensed money transfer services: Always verify the service is licensed to operate in your country and Nigeria
- Keep records: Save confirmation numbers and receipts
- Verify recipient details: Double-check account numbers before sending
- Watch for scams: Be wary of requests to send money to people you don't know
- Use secure apps: Stratum Remit uses bank-level encryption and biometric authentication
Conclusion
Sending money to Nigeria doesn't have to be expensive or complicated. With modern apps like Stratum Remit, you can skip the fees, get great exchange rates, and send money with just a voice command. Your family receives more, faster—and you spend less time on forms and menus.
Ready to try a better way to send money to Nigeria? Download Stratum Remit and say hello to Kora—she's ready to help you send your first transfer.