Compare ways to send money from Canada to Nigeria

The exchange rate determines the price you’ll pay for Naira when you send Canadian Dollar to Nigeria.

The current exchange rate between the Canadian Dollar and Naira is 1,070.1051. Dahabshiil offers the best exchange.

The CAD-NGN exchange rate is always moving.

It’s possible that waiting a day or two can help you get more NGN for the same amount of Canadian Dollar. But, the best way to lock in a price between Canada and Nigeria is by using a forward contract.

A Bank transfer is the our recommended option for money transfers between Canada and Nigeria. Dahabshiil offers the best price on a Bank transfer.

A Bank transfer to Nigeria through Dahabshiil is 0% cheaper than the second-best option in the market.

Always choose providers that are regulated by financial authorities in both Canada and Nigeria to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Canada and Nigeria.

Some services have minimum or maximum thresholds on how much you can transfer from Canada to Nigeria.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using WorldRemit if you need to send large amounts of CAD to Nigeria. The combination of rates and fees when sending to Nigeria is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Canada, or entering Nigeria. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Nigeria. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Canada to Nigeria will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Canada into Naira. TalkRemit is the best company for bank transfers between Canada and Nigeria.

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

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Dahabshiil.

When signing up to a money transfer company to send between Canada and Nigeria, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Canada this will be a government ID like a passport or driver's license. In Nigeria it will be a similar set of documents, although this should only be needed if you are opening a new account in Nigeria, or collecting in cash.

Big transactions between Canada and Nigeria, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend WorldRemit in part due to their easy sign up process in Canada.

When sending large amounts of money between Canada and Nigeria there will be tax implications to consider.

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

Tax limits and personal allowances differ in Nigeria based on age, income and a few other elements. When in doubt, please contact a tax professional in Canada or Nigeria to discuss your personal circumstances.