How to send money to Nigeria from India with the best INR-NGN rate

The exchange rate determines how many INR the recipient will get in Nigeria when you send money from India.

Today, the average exchange rate between Indian Rupee and Naira is 14.3984.

When calculating the costs of money transfers between India and Nigeria, opt for the best combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: Today, the INR-NGN mid-market rate equals 14.3984 NGN per Indian Rupee.

• Fees: Fees are charged on top of a transfer. The company offering the lowest fee is Wise, cahrging 684.28 INR per transfer. We would recommend searching for your exact send amount to get an idea of fees.

• Amount Received: The amount received in Naira is the biggest indicator the total cost of sending money from India to Nigeria. Essentially, the more the recipient receives in Nigeria, the less it is costing to send from India.

The INR-NGN exchange rate you receive is often the bigger factor than how much it costs to send Indian Rupees to Nigeria.

Sometimes, waiting a day or two can help you get more NGN for the same amount of Indian Rupees.

When sending money from India to Nigeria, the best way to save on fees is to use a bank transfer with Wise.

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

Bank transfers

Bank transfers are often the default option for sending money from India to Nigeria.

By using a money transfer company such as Wise for transfers from India to Nigeria, you can send money via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

Sending money from India to Nigeria with a debit or a prepaid card is very simple with Western Union Agent.


Western Union Agent is a leader in debit card payments for transfers from India to Nigeria, competing among a total of 5 active money transfer companies on this route.

Credit cards

You can deposit INR with a credit card when sending NGN to Nigeria, but in most cases, this means taking a cash advance, resulting in higher fees.

Making sure your funds are safe when transferring from India to Nigeria is really important.

Always choose providers that are regulated by financial authorities.

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

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

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

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

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers between India and Nigeria.

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

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but most are made for domestic transfers and have higher costs compared to money transfer providers like Wise.

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

The exact documents you need might vary. Usually, you will have to show a government ID like a passport or driver's license.

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

That’s why we suggest Wise in this case.

They know how to handle large INR-NGN transfers and will help you get things done fast.

There might be tax implications to consider when sending money from India to Nigeria.

Some INR-NGN transfers may need to be reported to tax authorities, especially for larger amounts.

When in doubt, please contact a tax professional in India or Nigeria.