Easiest Way To Receive Money From Abroad in Nigeria

Ways to receive money from abroad in Nigeria

Family support, your own savings and an overseas client payment can require different receiving arrangements, even when all three come from the same country.

Receive naira into your Nigerian bank account

The overseas sender can use Remitly, MoneyGram, Wise or another supported service to send a personal remittance paid into your Nigerian account.

You generally do not need that company’s app when the money arrives directly through the bank account you already use.

For example, receiving money from the UK in Nigeria can mean the sender pays pounds while you receive the naira amount shown in their quote.

Give the sender the beneficiary details requested by their service:

• Your full name as recorded on the account.

• Nigerian bank name and account number.

• Your phone number or address when requested.

• An accurate payment purpose.

UBA supports direct-to-account remittance receipt through its international partners, giving you a local receiving option alongside cash collection at eligible branches.

Its remittance partners include Western Union, MoneyGram and Ria, while the overseas sender still needs an available sending route.

The CBN’s IMTO framework uses naira settlement for personal remittances, so historical dollar-cash guides should not determine your current collection instructions.

I like a quoted NGN deposit for expenses in Nigeria, because you can compare the spending amount before the sender commits.

Ask for the expected recipient amount and confirm the chosen bank, especially when your sender has saved an older beneficiary or a different currency account.

For payments from participating African countries, UBA also supports PAPSS, which connects eligible banks so a sender can pay locally while you receive naira.

Ask both banks whether the specific country route and payment purpose qualify, particularly when the money relates to trade within Africa.

Receive foreign currency into a domiciliary account

A domiciliary account can receive eligible foreign-currency bank payments, allowing you to retain the supported currency rather than taking an NGN remittance payout.

UBA offers domiciliary accounts in currencies including US dollars, pounds and euros, with account-opening and operating requirements separate from a naira account.

Ask your bank for the incoming instructions for the exact currency and account you want credited.

These instructions can include your beneficiary name and address, domiciliary account number, bank SWIFT/BIC and the relevant correspondent bank.

A sender using its bank can then arrange the compatible wire, subject to both banks accepting the source and purpose of the payment.

I like this route when you need foreign currency for a later expense, although small wires can lose value to fixed bank charges.

Check the following points with your bank before sharing the account details:

• Whether the bank accepts your payment type and currency.

• Incoming-wire and correspondent-bank charges.

• Requirements for retaining or later withdrawing the balance.

• Any source-of-funds or purpose documents.

Our multi-currency accounts in Nigeria guide covers account selection, including the difference between local domiciliary accounts and other currency-collection products.

A company supporting NGN transfers does not establish that its foreign-currency account is available to you as a Nigerian resident.

Receive into your MoMo account

MoMo PSB supports international receiving through Lightway Finance, giving you another option when you use a registered MTN-linked MoMo account.

Share the registered MTN number with the sender, who chooses Direct to MoMo Wallet through the supported Lightway service.

MoMo identifies the UK, US and Canada among its receiving origins, with other available countries depending on the international partner’s coverage.

Check the recipient name and account verification before the sender pays, then confirm the incoming credit in your MoMo balance.

The amount you can receive depends on your account tier and the sending service’s conditions, so inspect your receiving limit first.

I'd say consider this when you want the money in MoMo already, while including any later cash withdrawal or onward-transfer charge in the comparison.

Our mobile money transfers in Nigeria guide covers wallet use in more detail, including the distinction between receiving credit and getting physical cash.

Collect an eligible remittance in cash

You can collect supported remittances through participating bank agents, including UBA branches, when the overseas sender selects an eligible cash payout.

Take the transfer reference and accepted photo ID, with the name on the payment matching the identification you bring.

Have the sender’s name, sending country and expected amount available, and check that the branch can pay before travelling.

UBA’s IMTO receiving instructions allow cash up to the naira equivalent of US$200, with larger amounts paid into the beneficiary’s own account.

That makes bank receipt the relevant route for larger personal remittances, rather than trying to collect the full amount in cash.

I'd say consider cash for a qualifying small payment when bank access is unavailable, while comparing the exchange rate before choosing it for convenience.

Receive money for freelance work or a business invoice

If the payment is for your work, use a bank or collection account that accepts commercial receipts and supports your legal status.

A family-remittance service’s Nigerian payout coverage does not establish that it accepts invoices, platform earnings or payments made by a business.

Before giving a client payment instructions, confirm the payer countries, accepted currencies, settlement account and records available for each receipt.

Keep your contract and invoices alongside the payment confirmation, particularly if your bank asks you to explain repeated foreign receipts.

For commercial receipts, compare business multi-currency accounts in Nigeria, while the comparison below illustrates personal inward transfers.

What does it cost to receive money from abroad?

A visible sending fee can be small while the exchange rate changes the naira amount substantially, so start with the quoted recipient amount.

For a domiciliary-account wire, also check bank and correspondent deductions before comparing it with a service delivering NGN.

These rounded sending amounts are roughly worth ₦1 million before fees, illustrating a family payment or other personal bank receipt.

Last updated at 16/10/2026

GBP NGN

Mid Market Rate £1 = ₦1,770.531

Transfer Amount £600

1

Remitly

2

TapTap Send

3

MoneyGram

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

£600.00

₦1,089,624.00

£0.00

1816.0400

-2.54%

Within a week

Visit

£600.00

₦1,081,800.00

£0.00

1803.0000

-1.82%

Minutes

Visit

£600.00

₦1,080,819.84

£0.99

1801.3664

-1.73%

Minutes - 24 hours

Visit

USD NGN

Mid Market Rate $1 = ₦1,331.0896

Transfer Amount $750

1

Remitly

2

MoneyGram

3

TapTap Send

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

$750.00

₦1,030,792.50

$0.00

1374.3900

-3.20%

Within minutes

Visit

$750.00

₦1,023,000.00

$1.99

1364.0000

-2.44%

Minutes - 24 hours

Visit

$750.00

₦1,012,500.00

$0.00

1350.0000

-1.41%

Minutes

Visit

CAD NGN

Mid Market Rate $1 = ₦938.9374

Transfer Amount $1,100

1

Remitly

2

TapTap Send

3

Africhange

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

$1,100.00

₦1,058,860.00

$0.00

962.6000

-2.49%

Within a week

Visit

$1,100.00

₦1,056,000.00

$0.00

960.0000

-2.22%

Minutes

Visit

$1,100.00

₦1,050,500.00

$0.00

955.0000

-1.70%

Minutes

Visit

EUR NGN

Mid Market Rate €1 = ₦1,494.686

Transfer Amount €700

1

Remitly

2

TapTap Send

3

Sendwave

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

€700.00

₦1,081,696.00

€0.00

1545.2800

-3.33%

Within a week

Visit

€700.00

₦1,066,142.00

€0.00

1523.0600

-1.88%

Minutes

Visit

€700.00

₦1,060,620.74

€0.99

1517.3184

-1.50%

Minutes - 3 days

Visit

AUD NGN

Mid Market Rate $1 = ₦924.0377

Transfer Amount $1,100

1

TapTap Send

2

Africhange

3

Remitly

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

$1,100.00

₦1,052,700.00

$0.00

957.0000

-3.50%

Minutes

Visit

$1,100.00

₦1,047,200.00

$1.10

952.0000

-2.98%

Minutes

Visit

$1,100.00

₦1,035,375.00

$0.00

941.2500

-1.85%

Within minutes

Visit

Compare companies for the sender’s actual route and check the selected payout method, because these quotes do not price domiciliary-account USD wires.

If someone needs a fixed naira amount, ask the sender to check that recipient target rather than assuming their usual foreign-currency payment still covers it.

How long does receiving take?

Supported personal transfers can arrive within minutes after payment and verification, while bank wires can take several working days across the institutions involved.

A sender’s transfer receipt proves that a payment was arranged, but you should check your credited balance before treating the money as available.

For cash, opening hours and the branch’s ability to pay your amount can delay collection even when the remittance itself is ready.

Limits, reporting and receiving documents

The sending service and your Nigerian account can impose different limits, while cash payout has separate restrictions from direct bank credit.

Your bank may request identity, source-of-funds or purpose evidence for a large or unusual payment, including transfers from your own overseas account.

Keep bank statements for existing savings, supporting records for gifts and inheritance, and invoices or contracts for work receipts.

A compliance report or a request for documents is separate from a tax assessment, so do not treat reporting as a tax-free allowance.

Do you pay tax on money received from abroad?

Tax depends on the underlying income, your residency and available exemptions or relief, rather than the receipt arriving through an international transfer company.

Nigeria’s tax rules can cover foreign income of residents, so overseas salary or freelance earnings should not automatically be treated as exempt.

Existing savings, family gifts and payment for services have different explanations, which is why I suggest keeping records of the source.

If income has already been taxed abroad, foreign-tax credit provisions may be relevant, subject to the conditions and limits in Nigeria’s tax law.

Check your current filing obligations with the relevant tax authority for significant gifts, inheritance, investments or ongoing foreign income.

How to receive money from abroad in Nigeria

What if the money has not arrived?

Check the account number, bank and beneficiary name against the sender’s receipt, then establish whether funding and verification are complete.

If the sending service shows delivery but your balance is unchanged, ask your bank or MoMo for the matching incoming credit using the reference.

For a domiciliary-account wire, the sender should request a trace through its bank and provide the payment confirmation or tracking details.

For cash collection, confirm readiness and any identity mismatch with the sending company before visiting another branch.

The sender usually needs to request corrections or cancellation from the sending service, while you respond to your receiving institution’s document requests.

Use the form with your sender to compare the next personal payment into Nigeria in the currency you want to receive.