How to send money to Nigeria from Canada with the best CAD-NGN rate

An app does the same job as the store for less, and you top it up with an Interac e-Transfer, the same way you'd send money to a friend.

Remitly charges CA$0 in fees and adds -2.5% markup, so your CA$1,000 delivers 978,020 NGN in within a week.

Over the past month, Remitly was the cheapest app on 93% of the days it appeared for CA$1,000 transfers.

You don't need a SIN to sign up either, a passport works.

For bigger or less frequent transfers, compare a couple of online services on the day, and pick the cheapest.

Of the 13 companies we compared, Remitly is the cheapest online service and currently gets you 978,020 NGN on a CA$1,000 transfer after a CA$0 fee and -2.5% markup.

In our comparisons over the past month, it was the cheapest online service on 28 of the 30 days it quoted.

Funding by bank transfer (EFT) is cheapest but takes 1-2 days to clear, and Interac e-Transfer or debit card is faster but pricier.

For property, tuition, moving from Canada, or an inheritance, a broker is the best and usually the cheapest option.

For large transfers (CA$15,000+), brokers like Currencies Direct or RegencyFX charge no fee, but add a margin that gets lower the more you send. Run a live search with your real amount to see it.

If you're sending large amounts, expect more questions about the transfers, so have statements and documents ready to avoid delays.

Some neobanks in Canada include international transfers with no transfer fee as part of the account.

Koho sends your CA$1,000 for CA$13.11 in fees with 0.07% markup.

It's a good option for small occasional transfers, but I still suggest comparing your options.

Our data shows Koho came out cheapest among challenger banks on 100% of days in the past month.

Global accounts handle the business side, paying suppliers, contractors and overseas invoices in NGN.

Companies like OFX, Airwallex, or WorldFirst are set up for the batch and recurring payments a personal app can't do.

If part of your life runs in NGN, be it spending it, saving it, or waiting for a better rate, a multi-currency account can hold it alongside your CAD.

Wise lets you hold CAD and NGN, and convert between them at low cost.

For example, converting $1,000 costs $8.72 in fees at -2.46% markup, which gets you 969,054.51 NGN.

Over the past month, it came out cheapest among multi-currency accounts on 100% of days.