How to send money to Nigeria from Sweden with the best SEK-NGN rate

The exchange rate determines the price you will pay when buying Naira in Sweden. A better exchange rate means more Swedish Kronas being sent to Nigeria.

The current rate between the Swedish Krona and Naira is 140.6619. The SEK-NGN exchange rate is always changing.

The total cost of sending money to Nigeria from Sweden is made up of a combination of mid-market, exchange rates and fees.

• The Mid-Market and Exchange Rates: The current mid-market for SEK-NGN is 140.6619 NGN per Swedish Krona.

• Fees: When sending money you may have to pay fees. Paysend costs 0 SEK per transfer at the moment, which is the cheapest option of the 5 providers compared. We would recommend searching to ensure you get the correct fee for your transfer amount.

• Amount Received: When comparing providers, the best measure is the amount of Naira eventually received in Nigeria.

Understanding the average, and then waiting a day or two can help you get more NGN for the same amount of Swedish Kronas - but you might end up worse off.

A safer option if you want to get a particular rate is to use a forward contract. This allows you to lock in an agreed exchange rate between Sweden and Nigeria.

Sending via a bank transfer is the payment method that will get you the best price on a transfer from Sweden to Nigeria.

Here are your options:

Bank transfers

Bank transfers are often the best and easier way to send money from Sweden to Nigeria.

By using a money transfer company such as Wise for transfers from Sweden to Nigeria, you can send money via a bank transfer and benefit from lower fees and more favorable exchange rates than would be offered by a bank. 


Debit and prepaid cards

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


Wise is a leading money transfer company for debit card payments, and offers transfers from Sweden to Nigeria.

Credit cards

We recommend avoiding credit card transfers due to high fees, and instead, you should consider a bank transfer or a debit card deposit.

However, if you do need to use a credit card to fund your transfer, use our comparison tool to get the latest deal.

and have different financial regulations to be aware of. 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 Sweden and Nigeria

Companies offering money transfers between Sweden and Nigeria will have minimum or maximum thresholds on how much you can send or receive across set timeframes.

Exchange rates and fees for different transfer amounts could change and sending regularly could mean losing out.

That’s why it’s best to compare SEK-NGN rates for your specific transfer amount.

For regular transfers to Nigeria to Sweden, shopping around each time can make a huge difference.

For sending large amounts of SEK to Nigeria without hitting a threshold, we’d recommended Wise. They offer a combination of rates and fees when sending from Sweden to Nigeria that is the most competitive, even at larger amounts.

Be sure to check with the recipient and understand any declarations needed on large amounts of money entering Nigeria from Sweden.

Options for receiving Naira in Nigeria include direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all of the 5 providers offering transfers from Sweden to Nigeria will support every method for incoming Naira, so it’s best to check ahead of time.

The most common option is to send directly from Sweden to a bank account in Nigeria. For most part, this is convenient but does have receiving fees to potentially be aware of.

Wise is the best company for bank transfers between Sweden and Nigeria.

Cash pickup is popular in some parts of Nigeria, but not always supported and can be costly compared to cheaper options.

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 Revolut.

When sending Nairas to Nigeria, through a money transfer company, you will need to verify your ID when signing up.

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

Generally, government issued ID such as a passport or driver's license are accepted in Sweden. If the recipient needs an ID to collect money in Nigeria, the same applies there. You may also be able use other ID formats, where these aren’t available.

Large transactions between Sweden and Nigeria can be subject to additional checks such as proof of funds for anti-money laundering purposes. This may also require additional ID checks.

One of the reasons Wise as scored so highly for transfers to Nigeria is their easy sign up process in Sweden.

As well as proof of funds, when sending large amounts of money between Sweden and Nigeria there will be tax declarations to consider. This is also potentially due to regular transactions.

Some transfers into Naira may need to be reported to tax authorities in Nigeria and Sweden, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances do change in Nigeria based on age, income and a few other elements. Everyone’s tax obligations are unique - when in doubt, please contact a tax professional in Sweden or Nigeria.