How to send money to US from Nigeria with the best NGN-USD rate

An exchange rate determines the price you will pay when buying US Dollar. A better exchange rate means more money sent from Nigeria to the United States.

The current rate between the Naira and US Dollar is 0.0007, and it changes almost constantly.

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from Nigeria to the United States.

• The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more US Dollar for your Naira. The current NGN-USD mid-market rate is 0.0007 USD per Naira.

• Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Naira you’re sending to the United States. Pesa currently is the cheapest option for transfers into USD costing 0 NGN per transfer. We always recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in US Dollar is the biggest indicator of the total cost of sending money to the United States from Nigeria. The bigger the amount received in the United States, the lower the overall cost of sending from Nigeria.

Understanding the averages, and then waiting a day or two can help you get more USD for the same amount of Naira.

A better option is to use a forward contract that also allows you to lock in an agreed exchange rate between Nigeria and the United States.

A bank transfer is the payment method that will get you the best price on a transfer from Nigeria to the United States.

Here are all the ways to send money from Nigeria to United States:

Bank transfers

Bank transfers are often fastest, cheapest and best way to send money from Nigeria to the United States.

Using a money transfer company such as Pesa for transfers from Nigeria to the United States, will mean being able to send money via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

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


Western Union Agent is the cheapest option for sending money with a debit card between Nigeria and the United States. This is of the 8 money transfer companies offering debit card payments on this route.

Credit cards

When it comes to credit card transfers from Nigeria to the United States, we recommend comparing your options to get the best deal.

and have different regulations and ensuring you fully understand these regulations will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Nigeria and United States

Some companies offering money transfers between Nigeria and the United States have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare NGN-USD rates for your specific transfer amount. For regular transfers to the United States, shopping around each time can make a huge difference.

For sending large amounts of NGN to the United States, we’d recommend Africhange. They offer a solid combination of rates and fees when sending from Nigeria to the United States that is the most competitive, even at larger amounts.

There are different options for receiving US Dollar in United States. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from Nigeria to the United States will offer every method for incoming US Dollar, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from Nigeria to United States. For most part, this is because it means the recipient has to do very little.

Africhange is the best company for bank transfers between Nigeria and United States.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Pesa.

When sending Naira to United States, through a money transfer company, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need a couple of options.

For the most part, ID can be verified in Nigeria through a government issued ID such as a passport or driver's license. If the recipient needs an ID to collect money in the United States it will be similar.

Large transactions between Nigeria and United States, can be subject to additional checks such as proof of funds for anti-money laundering purposes.

One of the reasons Africhange has scored so highly for transfers to the United States is their easy sign up process in Nigeria.

As well as proof of funds, when sending large amounts of money between Nigeria and United States.

Some transfers into US Dollar may need to be reported to tax authorities in the United States as well, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in the United States based on age, income and a few other elements. When in doubt, please contact a tax professional in Nigeria or United States to discuss your personal circumstances to ensure you are not missing any specific tax declarations.