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Table of Contents
Mobile money transfer in Nigeria lets you pay from a phone-based account, move naira to a bank account and access cash through an agent.
For everyday payments, I'd say choose the account around how you receive money and withdraw it, rather than download another international transfer app.
Sending money abroad is a separate question, because a Nigerian wallet accepting naira does not automatically offer foreign-currency transfers.
MoMo PSB has an outbound service to selected African countries, while Paga combines local payments with separate dollar-account features.
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At a glance
OPay and PalmPay suit regular local payments and transfers.
Paga combines a naira wallet, agent access and separate international features.
MoMo PSB supports transfers to selected African mobile accounts.
9PSB offers app and USSD access for Nigerian payments.
Overseas receipt and sending money abroad require different services and details.
What is a mobile wallet?
A mobile wallet holds money that you can spend or transfer through your phone, using the functions attached to that account.
Some Nigerian wallet apps also provide bank accounts, including OPay through its microfinance bank and MoMo through its payment service bank.
Mobile wallets
PalmPay and Paga let you hold naira for payments, with bank transfers and agents connecting that balance to the wider payment system.
If you need to retain overseas earnings in another currency, multi-currency accounts serve a different purpose from an everyday naira balance.
Mobile money
Mobile money describes payments through a mobile account, often using a phone number to identify the person receiving the money.
You can also access certain accounts through USSD, which uses your mobile network without requiring an internet connection.
Money transfer apps
Money transfer apps in Nigeria focus on international payments, with eligibility depending on where you live and the currency you can fund.
An app that sends money into Nigeria from Britain does not necessarily let you send naira out of Nigeria.
Mobile banking apps
A banking app controls your bank account, including payments to other Nigerian accounts through the country’s instant-transfer network.
OPay’s current service is powered by OPay Microfinance Bank, while MoMo and 9PSB operate as payment service banks.
Apple Pay and Google Pay
Apple Pay and Google Pay usually provide a way to pay with a linked card inside a supported money transfer app.
That payment option does not give your recipient an OPay or PalmPay account, or replace the account details needed for delivery.
Who handles an international mobile money transfer?
If someone overseas sends money to your Nigerian wallet, the transfer company collects their payment and arranges the naira deposit.
Your wallet then holds the received money, while the sending company handles the international quote and transfer tracking.
For example, sending money from the UK to Nigeria through Remitly can deliver naira directly to an OPay or PalmPay account.
The overseas sender pays in pounds, but you receive naira rather than a pound balance inside the Nigerian account.
If you need to send abroad yourself, money transfer services in Nigeria cover the different outbound options beyond domestic wallet payments.
Choose a mobile money account
I suggest starting with the payment you need to make, particularly whether you want agent cash access or an international receiving option.
Local transfers and debit-card spending
?
OPay
Fees
Exchange Rate Markup
Transfer Speed
Frequent domestic transfers
?
PalmPay
Fees
Exchange Rate Markup
Transfer Speed
Wallet payments and agent access
5.7
Paga
Fees
Exchange Rate Markup
Transfer Speed
Phone payments and selected Africa transfers
?
MoMo PSB
Fees
Exchange Rate Markup
Transfer Speed
Local payments through USSD
?
9PSB
Fees
Exchange Rate Markup
Transfer Speed
OPay
OPay works well for everyday naira payments
OPay combines transfers to Nigerian accounts with bill payments and a debit card for local spending or cash withdrawal.
Bank transfers can fund your account, and the agent network gives you another route when you need to deposit or withdraw cash.
Local bank transfers have a free allowance, but restrictions apply, so the payment confirmation is the place to check any charge.
Sending money
You can move money to other Nigerian accounts without requiring the recipient to download OPay, which suits rent or family payments.
For a foreign beneficiary, use an eligible international service rather than assume your domestic transfer screen can convert and send the money.
Receiving money
Remitly and TapTap Send can send naira from the UK or US directly into your OPay account.
For an account deposit, give the sender your ten-digit OPay account number and the full name registered on your account.
The comparison below shows bank-account delivery for £600 or US$750, so you can see which service leaves you with more naira.
Last updated at 16/10/2026
GBP NGN
Mid Market Rate£1 = ₦1,770.531
Transfer Amount£600
1
Remitly
2
TapTap Send
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,089,624.00
£0.00
1816.0400
-2.54%
Within a week
₦1,081,800.00
£0.00
1803.0000
-1.82%
Minutes
USD NGN
Mid Market Rate$1 = ₦1,331.0896
Transfer Amount$750
1
Remitly
2
TapTap Send
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,030,792.50
$0.00
1374.3900
-3.20%
Within minutes
₦1,012,500.00
$0.00
1350.0000
-1.41%
Minutes
PalmPay
PalmPay keeps regular local transfers inexpensive
PalmPay offers free domestic transfers, so I like it if you frequently move small amounts between your wallet and Nigerian accounts.
You can fund the balance through supported cash-in channels and use it for bills, merchant payments or transfers to another PalmPay account.
Cash withdrawal through an agent is a separate transaction, so free transfers should not be read as free cash access.
Sending money
PalmPay’s local transfer functions cover Nigerian accounts and other PalmPay users, making it an alternative to paying from your main bank app.
You can send naira to Nigerian accounts, while sending money abroad requires a different international service.
Receiving money
You can receive naira into PalmPay through Remitly or TapTap Send without collecting the money from an agent.
The sender selects PalmPay as the receiving institution and enters your account number and registered name for an account deposit.
Compare the amount reaching your PalmPay balance and the delivery time for £600 from the UK or US$750 from the US.
Last updated at 16/10/2026
GBP NGN
Mid Market Rate£1 = ₦1,770.531
Transfer Amount£600
1
Remitly
2
TapTap Send
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,089,624.00
£0.00
1816.0400
-2.54%
Within a week
₦1,081,800.00
£0.00
1803.0000
-1.82%
Minutes
USD NGN
Mid Market Rate$1 = ₦1,331.0896
Transfer Amount$750
1
Remitly
2
TapTap Send
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,030,792.50
$0.00
1374.3900
-3.20%
Within minutes
₦1,012,500.00
$0.00
1350.0000
-1.41%
Minutes
Paga
Paga gives you more ways to use an incoming payment
Paga supports local wallet payments and agent access, so it suits receiving money that you want to spend or withdraw nearby.
Its newer dollar features also let you manage USD separately, rather than convert every incoming foreign payment immediately into your naira wallet.
I'd say keep those two balances separate when deciding how to receive money, because their payment details and charges differ.
Sending money
Transfers to another Paga customer are free, while bank withdrawals, non-Paga payments and agent transactions can carry separate charges.
You can access local services through the app or *242#, which gives you an option when mobile data is unavailable.
Paga’s USD account supports functions such as ACH and wire transfers, but access depends on the particular account and payment being enabled.
A dollar-account feature does not mean you can fund any overseas payment directly from your ordinary naira wallet.
Receiving money
WorldRemit sends naira directly into your active Paga mobile-money account, using your ten-digit mobile-money account number and registered name.
Remitly also supports Paga payments from the UK and US, including mobile-wallet and bank-deposit options.
WorldRemit does not charge you to receive the payment, although withdrawing cash from your Paga balance can cost extra.
The figures below show WorldRemit’s mobile-money delivery for £600 from the UK or US$750 from the US.
Last updated at 16/10/2026
GBP NGN
Mid Market Rate£1 = ₦1,770.531
Transfer Amount£600
1
WorldRemit
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,072,089.73
£0.99
1789.7693
-1.08%
Minutes - 2 days
USD NGN
Mid Market Rate$1 = ₦1,331.0896
Transfer Amount$750
1
WorldRemit
They get (after fees)
Transfer fees
FX Rate
Markup
Delivery time
₦1,009,722.88
$0.99
1348.0766
-1.27%
Minutes - 2 days
If you are being paid for work, Paga’s separate USD or PayPal features may fit better than converting a family remittance into naira.
MoMo PSB
MoMo can send naira to mobile accounts elsewhere in Africa
MoMo PSB is a payment service bank with local phone-based payments, including app access and USSD through *671#.
Its international To Africa feature sends naira to supported mobile accounts abroad, with the recipient receiving their local currency.
Sending money
Supported destinations include Ghana, Benin, Rwanda and Uganda, with a 3% transfer fee applied to the amount you send.
For example, sending ₦100,000 carries a ₦3,000 transfer fee, and the exchange rate determines the recipient’s local-currency amount.
You need a supported recipient account and sufficient daily allowance, so this is narrower than sending to any foreign bank.
I suggest using it for a compatible African mobile account, while choosing bank delivery when that is what the recipient needs.
Receiving money
Someone overseas can send into your MoMo account through Lightway, with the money credited in naira to your registered mobile account.
That receiving arrangement is separate from the To Africa feature used when you send money out of Nigeria.
9PSB
9PSB gives you an option when you do not have mobile data
9PSB offers local transfers and bill payments through its app or *990*0#, with agents connecting phone-based payments to cash access.
You can register and verify through the supported channels, then use your account for payments to Nigerian banks.
I think it is worth considering if USSD access suits you better than relying entirely on a smartphone app.
Sending money
You can send to Nigerian bank accounts through USSD, using your security PIN to authorise the payment from your balance.
For a payment abroad, choose an international service that accepts your funding currency and supports the recipient’s account.
Receiving money
For Nigerian payments, share your account details so the sender can transfer from their bank or another participating account.
For overseas receipt, I suggest choosing one of the accounts above with a named international receiving partner.
Sending money within Nigeria
Nigerian account transfers use the receiving institution and account number, even when that account is mainly accessed through a wallet app.
The recipient name shown before payment is more useful than a copied phone number, particularly when different accounts have similar names.
If you already have the money in a bank account, a direct payment can avoid transferring through another wallet first.
For cash, ask the agent for the charge before handing over money and wait for the confirmed balance change before leaving.
Mobile money transfer fees
The cost depends on whether you are moving naira locally, converting currencies or taking cash out after the payment arrives.
Payment
Cost to consider
PalmPay domestic transfer
Free transfer, agent withdrawal remains separate
OPay bank transfer
Free allowance and applicable restrictions
Paga-to-Paga payment
Free, other payment and withdrawal channels may charge
MoMo To Africa
3% transfer fee plus the effect of its exchange rate
Incoming international payment
Sender’s transfer fee and exchange rate, any later cash withdrawal
For an overseas payment, compare the final naira amount rather than stop at a zero transfer-fee headline.
Your account tier affects how much you can transfer and hold, while the payment method can have its own transaction limit.
New Tier 1 accounts require BVN or NIN, and higher-tier accounts require both identifiers under the CBN identity rules.
Paga’s remittance account tiers allow daily transactions of ₦50,000, ₦200,000 or ₦5 million, with the highest tier requiring fuller verification.
MoMo’s To Africa service also uses daily tier allowances of ₦50,000, ₦200,000 and ₦5 million, rather than one unlimited sending allowance.
Limit
Why it can stop the payment
Daily spending or sending allowance
Earlier transfers reduce what remains today
Maximum balance
A new deposit can exceed the space available
Single-payment limit
One payment can fail even below the daily allowance
International-service limit
Overseas sender and receiving account can have different caps
Under the CBN instant-payment rules effective from July 2026, activating a mobile banking app on a new device carries a temporary ₦20,000 limit for 24 hours.
If your app supports setting a lower personal transfer limit, that setting can also explain why your available allowance is smaller.
How to make a mobile money transfer?
Choose the correct direction
Decide whether you need a Nigerian payment, an overseas receipt or a supported outward transfer before choosing the account.
For overseas receipt, give the sender the exact wallet or institution name alongside the correct account details.
Check verification and remaining allowance
Complete the account upgrade before a large payment, including BVN or NIN requirements and any additional identity checks.
Check both your remaining daily allowance and the recipient’s available balance capacity before you commit the transfer.
Confirm the recipient and total cost
Read the recipient name displayed by the service and stop if it does not match the person you intend to pay.
For international payments, confirm the total debit and currency received, including the cost of any necessary cash withdrawal.
Keep the payment reference
Save the transaction reference and check the recipient’s account activity, rather than use an SMS or screenshot alone as proof of receipt.
What if the payment is pending, missing or sent to the wrong account?
If your account was debited but the recipient has nothing, contact the sending service with the transaction reference and recipient details.
For an overseas payment, the sender should raise the issue with the remittance company, while you check your wallet’s incoming transaction history.
A completed payment to the wrong account may be difficult to recover, so report it immediately without expecting an automatic reversal.
Do not pay someone who claims they need your PIN or a separate release fee to recover the transfer.
Is mobile money transfer safe?
Use a CBN-regulated service and keep the legal institution behind the app separate from its familiar brand name.
NDIC protection depends on the account category, with up to ₦5 million pass-through cover for eligible mobile-money subscribers and ₦2 million for payment service bank depositors.
Microfinance bank deposits also have a ₦2 million cover limit, so an app-based account should not automatically receive the MMO figure.
Deposit insurance addresses an insured institution’s failure, rather than reimbursing every mistaken payment or scam involving your account.
Keep your transaction PIN private, and contact your mobile network quickly if your SIM is stolen or stops working unexpectedly.
Before accepting an overseas payment, agree whether you need naira or foreign currency so you receive money into the right type of account.
Compare available international transfer rates for your payment, then check the selected service’s funding options and support for the recipient’s wallet.
Compare transfers from Nigeria
Enter your NGN amount and destination to compare available transfer rates, then check wallet delivery with your selected service.
Our methodology & why trust us
We checked account functions, payment directions and current identity rules against the companies’ official information and Nigerian regulatory sources.
Our live comparisons show eligible international transfer options, while wallet fees and local account restrictions come from separately researched product information.
My choices focus on the payment you can complete with each account, with our review methodology explaining how we assess transfer services.
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