Send money to Nigeria from the USA
Nigeria is a corridor where the headline rate can change faster than the transfer. Since the 2023 liberalisation, the official naira rate has moved more with market demand, but a parallel market still exists. The practical question is not only what the rate is. It is which rate, from which provider, and how many naira actually arrive.
Reviewed 5 November 2026. Rates update automatically.
Updated · Latest mid-market rate
Mid-market rate for guidance only. Banks and transfer providers add a margin and may charge a fee. This site does not handle, hold or transfer money.
Some provider links are affiliate links. We may earn a commission at no extra cost to you. This never changes the rate or fee you are offered.
Rate context
| You send | Mid-market value |
|---|---|
| 100 USD | 134,982.26 NGN |
| 500 USD | 674,911.30 NGN |
| 1,000 USD | 1,349,822.60 NGN |
| 2,500 USD | 3,374,556.51 NGN |
| 5,000 USD | 6,749,113.02 NGN |
The Central Bank of Nigeria has intervened at times to clear backlogs and steady the market. Oil sales supply most of the country's dollars, with remittances from Nigerians in the United States and the United Kingdom close behind. When official supply is tight, a parallel market can quote a different rate. That does not mean every provider uses the parallel market. It means you should ask which reference the quote is based on and compare the final naira amount.
Rates are indicative and can change. About our rates.
A rate with more than one price
Nigeria has an official rate, an interbank market and, at times, a parallel market. The three do not always move together. A provider may quote a rate close to the official reference, while a local exchange counter quotes something different.
For a transfer, the only number that matters is the naira that reaches the recipient. Ask the provider which reference it uses, then compare the final amount after every charge. A quote that looks good on the screen can lose its advantage once the fee and the receiving bank's charge are applied.
What to ask before comparing providers
Start with the payout method. If the recipient uses a bank account, confirm the account can receive international transfers. If the recipient uses a wallet, confirm the provider supports that wallet. Only then compare the rate and fee.
Ask for the quote expiry, the expected arrival time and the name that must appear on the recipient account. A provider that cannot pay to the recipient's bank is not a cheaper option. It is not an option at all.
- The rate source and whether it is locked.
- The transfer fee and any receiving fee.
- The payout method and the recipient details required.
- The expected arrival time, including bank hours.
Bank account, wallet or pickup
Bank deposit is the most common route. The recipient needs an account in their own name and may need a Bank Verification Number, or BVN, so the bank can match the account. A name mismatch can delay the payment.
Mobile wallet payouts are growing, but support varies by provider. Cash pickup is less common for this corridor and should not be assumed. If the recipient does not have a bank account, ask the provider which payout options are actually available before you send.
BVN and name matching
The BVN is a unique identity number linked to Nigerian bank accounts. Many banks ask for it when receiving a transfer. The name on the transfer should match the name linked to the BVN and the bank account.
Small differences matter. A middle name omitted, a maiden name used or a initials only entry can trigger a manual review. Ask the recipient to send a screenshot of the account name and number, then copy it exactly.
Why timing matters more here
The naira has been volatile since the 2023 liberalisation. A provider that locks the rate protects you from a move during processing. A provider that converts later may pass on a better rate, but it can also pass on a worse one.
Policy announcements, oil price moves and changes in dollar supply can all shift the market. If you are sending a large amount, avoid assuming that the rate will still be there tomorrow. Decide whether certainty or a possible improvement is more important to you.
A small transfer first
Test the route with a small amount if the recipient is new or the provider is new to you. Check the naira that arrives, the receiving bank's charge and how long it took. Then send the larger amount with the same details.
Keep the receipt and the provider reference. If the payment is delayed, the support team will need the sender details, the recipient details and the quote. A small test makes those details easier to confirm.
What to check with each provider
Only providers that support both currencies in this corridor are listed. We do not publish provider fees here because they change by country, payment method and amount. Open a live quote and compare the amount that actually arrives. Provider order is not a ranking of cost.
| Provider | What to check | Link |
|---|---|---|
| Wise | Look at the fee and the rate margin separately, then confirm the payout method available in the destination country. | Open |
| WorldRemit | Confirm whether the destination supports bank deposit, mobile wallet or cash pickup, and who pays any receiving fee. | Open |
| Xe | Check the rate margin, the settlement time and whether the recipient needs a bank account or can collect cash. | Open |
| Remitly | Compare the standard rate and fee, not only a first transfer promotion, and confirm the expected arrival date. | Open |
Some links are affiliate links. If you open an account or start a transfer, we may earn a commission at no extra cost to you. How this site is funded.
How to send money to Nigeria
- Start with the live mid-market rate and compare the total amount your recipient would receive.
- Confirm the payout method and the recipient account, wallet or pickup details.
- Complete the provider identity and source of funds checks before you fund the transfer.
- Check the quote expiry and whether the provider locks the rate when you pay.
- Keep the receipt and confirm the amount that arrives in Nigeria.
Timing and document requirements vary by provider and payout method. Confirm them on the provider site before you send.
Frequently asked questions
How much is 1 USD in Nigerian naira today?
At the latest update, 1 USD is worth 1,349.82 NGN at the mid-market rate. That means 100 USD is about 134,982.26 NGN and 1,000 USD is about 1,349,822.60 NGN before provider fees and margins.
Why is the naira rate so volatile?
Nigeria depends heavily on oil revenue and has limited dollar supply at times. Since the 2023 liberalisation, the official rate has moved more with market demand. Policy changes, reserves and remittance flows can all cause sharp moves.
What is a BVN and does my recipient need one?
A Bank Verification Number is a unique identity number linked to Nigerian bank accounts. Many banks ask for it when receiving a transfer. Check with the recipient bank before you send.
Can I send money to a Nigerian mobile wallet?
Some providers support wallet payouts, but availability varies. Confirm the wallet provider, the registered name and the limit before you fund the transfer.
How long does a transfer from the USA to Nigeria take?
Some transfers arrive within minutes, while others take a business day or more because of bank hours or additional checks. Ask the provider for an estimate for the payout method you choose.
Useful links
CurrenciesLive is an informational tool. It does not process, hold or transfer funds. Rates are indicative mid-market values, not quotes from any provider.