How to send money to Nigeria from Germany with the best EUR-NGN rate

The exchange rate determines how many EUR the recipient will get in Nigeria when you send Euro.

When calculating the costs of money transfers between Germany and Nigeria, here's what really matters:

• The Mid-Market Rate: Today, the EUR-NGN mid-market rate equals to 1,558.7708 NGN per Euro.

• Fees may also be added on top, and usually vary depending on how much EUR you are sending to Nigeria.

• For the best combination of rates and fees, we suggest using Xe.

Today, the average exchange rate between Euro and Naira is 1,558.7708.

The EUR-NGN rate fluctuates constantly, so timing your transfer to Nigeria can help you save a lot of money.

Sometimes, waiting a day or two can help you get more NGN for the same amount of EUR. You can also opt for a forward contract to lock in rates between Germany and Nigeria.

A bank transfer is the most cost effective option for sending money from Germany to Nigeria. The company offering the best bank transfer price is Xe.

Here are all the ways to send money from Germany to Nigeria:

Bank transfers

The default option for sending money from Germany to Nigeria is often a bank transfer.

Using a money transfer company such as Xe for transfers from Germany to Nigeria, allows for sending via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

Sending money from Germany to Nigeria with a prepaid or debit card is easy with Wise.


Wise is a leader in accepting card payments for transfers between Germany and Nigeria.

Credit cards

We recommend using a bank transfer or a debit card deposit instead of a credit card, as many companies do not allow direct deposits with a credit card and are usually more expensive and come with cash advance fees!

Always choose providers that are regulated by financial authorities to ensure funds are safe when transferring from Germany to Nigeria.

If you don’t know what the key regulatory bodies for money transfers are between Germany and Nigeria, please refer to our directory of financial regulators worldwide.

Some services have limits on how much you can transfer from Germany to Nigeria. This applies when receiving money in Nigeria as well.

Different companies will offer different rates or lower fees for different transfer amounts.

For example, we recommend using Wise if you need to send large amounts of EUR to Nigeria.

This being said, always check with the recipient and understand any declarations needed on large amounts of money leaving Germany, or entering Nigeria.

There are different ways to receive money in Nigeria. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account.

If you (or the recipient) want a direct transfer to your bank account, Wise is the best money transfer company for bank transfers between Germany and Nigeria.

And if you need cash right away, check if cash pickup is an option for transfers between Germany and Nigeria.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Xe.

When you're sending or receiving money between Germany and Nigeria, you have to be ready to show some ID.

The exact documents you need might vary. Usually in Germany this will be a government ID like a passport or driver's license. This will be similar if you need to open an account or collect cash in Nigeria.

If you're making a big transaction between Germany and Nigeria, a provider may ask you for proof of address or may want to know where your money comes from.

Wise is a great option for sending from Germany as the sign up process is pretty straightforward, even for larger transactions.

When sending large amounts of money between Germany to Nigeria there will be tax implications to consider.

Some EUR-NGN transfers may need to be reported to tax authorities, particularly where inheritance or property sales are involved.

Tax limits and personal allowances differ in Nigeria based on age, income and a few other elements. When in doubt, please contact a tax professional in Germany or Nigeria to discuss your personal circumstances.