FR
ENHow to send money from Germany to Nigeria
The number to compare when you send money from Germany to Nigeria is what your recipient receives. This guide goes through the transfer in order, with what to check at each step, what German law says about complaints, and where to find the figures in the comparator.
13 providers compared. The comparator shows what your recipient gets after fees and the exchange-rate margin.
In short
- Compare what your recipient receives. A provider can charge nothing and still keep a margin on the exchange rate.
- Look the company up in BaFin’s register before your first transfer. A firm licensed in another EU country is in its own country’s register.
- Complain in writing first: a payment provider has to answer within 15 working days of receiving your complaint (35 at the latest in exceptional cases).
- BaFin cannot help in an individual case. An arbitration body can propose a solution, and the firm has to tell you which one.
About this route
World Bank estimates put the money sent from Germany to Nigeria at about 1 billion US dollars in 2021, around 5% of all the remittances Nigeria received. Among the sending countries this site covers, only the United States, the United Kingdom and Italy sent more to Nigeria. The figures are modelled estimates, based on migrant numbers and incomes (World Bank data, method note).
Before you start
- A valid ID document. Expect the provider to ask you to prove who you are before your first transfer. Have your ID document ready and use your name exactly as it appears on it.
- Your recipient’s details. For a bank deposit: their full name exactly as the bank holds it, the name of the bank and their account number, which in Nigeria has 10 digits. For cash pickup: their full name as it appears on their ID, and a phone number if the provider asks for one.
- A way to pay. Providers take a bank account, a debit card or a credit card, and not every provider takes all three. The price can change with the way you pay, so read the quote for the one you will use.
- Time. A first transfer, or a large one, can be held for extra checks. Do not leave it to the day the money is needed.
Step by step
- 1
Choose how your recipient will receive it
A bank deposit if they have an account, cash pickup if they do not or need cash the same day. Not every provider offers both, and the price can differ between the two.
- 2
Compare what your recipient gets
Enter the amount in the comparator to send money from Germany to Nigeria and read two numbers: what your recipient receives and when. Do not judge a provider by its fee alone. Our prices are estimates from public pages. Check the final price on the provider’s own screen before you pay.
- 3
Look the company up in BaFin’s register
Search for the legal name of the company behind the app before you open an account. If it is licensed in another EU country, use that country’s register or the EBA’s instead. The details are in “Check the company and know your rights” below.
- 4
Open the account and verify your identity
You will give your name, address and date of birth and upload your ID. Some providers also ask for a selfie. Use the name that is on the ID.
- 5
Enter your recipient’s details
Type the name and the 10-digit account number slowly, then read them back against what your recipient sent you. If you paste the number, check that no space came with it.
- 6
Read the final screen, then pay
Before you pay, the screen should show the exchange rate, the fees and the amount your recipient will receive. If the amount is clearly lower than in step 2, ask why before you pay. Our figures are estimates, so a small gap is normal.
- 7
Keep the confirmation and tell your recipient
Save the reference number, send it to your recipient and keep it until the money has arrived. If it is late, write to the provider and quote the reference.
What it really costs
The price of a transfer usually has two parts. The fee is on the quote. The margin is the gap between the mid-market rate (the rate with no margin added) and the rate you are given. It is not on the quote. A provider can charge no fee and still keep a margin. The amount your recipient receives is the figure to compare.
Example with 300 €, from our estimates of Nov 14, 2026. At the mid-market rate of Nov 13, 2026, 300 € is worth 445,911 NGN. After fees and the exchange-rate margin, the 13 providers compared would deliver:
| Estimate | Fee | Margin on the rate | Your recipient gets |
|---|---|---|---|
| Most favourable | 3.05 € | 0.0 % | 441,377 NGN |
| In the middle | 1.99 € | 2.2 % | 433,208 NGN |
| Least favourable | 8.00 € | 3.5 % | 418,829 NGN |
From the most to the least favourable estimate the gap is 22,548 NGN, about 15 € at the mid-market rate. On our estimates, that is roughly what the choice of provider is worth on this transfer. The provider shows the final price.
To check a quote you already have, use the true cost checker. To see the mid-market rate, use the currency converter.
How the money can arrive
These are the ways to receive that our comparison lists for this route, with the number of providers that offer each and the fastest and slowest delivery time they publish.
| How it is received | Providers offering it | Fastest | Slowest |
|---|---|---|---|
| Mobile money | 5 | A few minutes | A few minutes |
| Bank account | 10 | A few minutes | 1–2 days |
| Cash pickup | 4 | A few minutes | A few minutes |
Figures from our comparison (the delivery times providers publish). Confirm on the provider’s site.
- Mobile money. Some providers list a mobile wallet as a way to receive in Nigeria. Ask the provider which wallets it pays into, and check that your recipient has an active account with one of them.
- Bank deposit. The money is paid in naira to the account number you typed, a 10-digit number that is standard across Nigerian banks (NIBSS: NUBAN). How long it takes depends on the provider and on the banks involved.
- Cash pickup. Your recipient collects at an agent location with the reference you send them and an ID that the Central Bank of Nigeria (CBN) accepts: an international passport, a driver’s licence, a National Identity Card or the INEC Permanent Voters Card. The CBN’s guidelines also say larger payouts must go through a bank account, so ask the provider what limit applies (CBN guidelines).
Check the company and know your rights
A company that provides payment services in Germany needs an authorisation. For a company licensed in Germany, BaFin, the financial supervisor, publishes the licences it has granted:
- Search the ZAG register. BaFin’s register lists the payment institutions and e-money institutions licensed in Germany, with the scope of each licence, and the agents that work for them. It is updated daily (BaFin: ZAG register, in German).
- For a firm from another EU country, look elsewhere. BaFin’s register covers institutions licensed in Germany. A firm licensed in another member state is in its home country’s register, and in the EBA’s central register of payment and e-money institutions, which is free to search (EBA: payment institutions register).
- No trace, ask. If you cannot find the company, ask it for its legal name and licence details before you send anything.
If something goes wrong, German law sets the route:
- The firm answers in writing. It has to reply within 15 working days of receiving your complaint, on every point you raised. Exceptionally, if it cannot answer in that time for reasons beyond its control, it must send a provisional reply with the reasons and the date by which you will have the final answer, which can be no later than 35 working days after it received your complaint (ZAG, section 62, in German).
- It has to name the arbitration body. The same section says the firm must tell you which consumer arbitration body is responsible.
- Then an arbitration body. BaFin cannot help you in an individual case: it protects consumers as a whole (BaFin: complaints). Disputes with payment providers go to an arbitration body. The Bundesbank’s board takes them when no recognised private body is responsible, and only for firms established in Germany (Bundesbank: arbitration board).
On the Nigerian side, the CBN licenses the international money transfer operators (IMTOs) that pay out there:
- Look for the operator on the CBN list. Search the legal name of the company. If you do not find it, ask the provider which licensed operator or bank pays your recipient (CBN: licensed IMTOs).
- Know what the CBN requires. An operator must disclose the exchange rate, the commission, the fees and any other amount charged, pay in naira at the prevailing rate on the Nigerian foreign exchange market, and refund wrong or disproportionate charges (CBN guidelines).
- If the complaint is not settled. The operator has to investigate and answer within two weeks of receiving your complaint. If you are dissatisfied, it must offer an internal review, which has to decide within one week of receiving your letter of dissatisfaction. You can then escalate to the Consumer Protection Department of the CBN.
Mistakes to avoid
- Comparing the fee only. The amount your recipient receives is the number that counts.
- Looking in one register only. BaFin’s register holds firms licensed in Germany. A company licensed elsewhere in the EU will not be in it: try the EBA register before you decide it does not exist.
- A name or number that does not match. A valid number that belongs to someone else can be paid out to that person. Getting it back depends on the provider.
- Expecting BaFin to settle a dispute. BaFin supervises firms, it does not decide individual cases. Use the firm’s complaint process first, in writing, then the arbitration body it names.
Questions
How long does a transfer from Germany to Nigeria take?
It depends on the provider and on how your recipient receives the money. The table above shows the fastest and the slowest delivery time providers publish for each way. A first transfer can take longer while the provider checks your identity.
Is it safe to send money from Germany to Nigeria?
No transfer is risk-free, but you can check the company first. Search its legal name in BaFin’s ZAG register; a firm licensed in another EU country is in its home country’s register and in the EBA’s central register. If you cannot find it, ask the company for its legal name and licence details before you send anything. If something goes wrong, the payment provider has to answer your written complaint within 15 working days of receiving it (35 at the latest in exceptional cases, after a provisional reply). BaFin cannot help in an individual case: an arbitration body can propose a solution, and the firm has to tell you which one.
How can I check that a money transfer company is licensed in Germany?
Search its legal name in BaFin’s ZAG register. If it is licensed in another EU country, search that country’s register or the EBA’s central register instead.
How long does a payment provider have to answer a complaint?
Within 15 working days of receiving it. Exceptionally, if it cannot answer in time for reasons beyond its control, it must send a provisional reply with the reasons and the date of the final answer, which can come 35 working days after it received your complaint at the latest.
What does my recipient need to collect cash in Nigeria?
The reference number you send them and an ID that the Central Bank of Nigeria accepts: an international passport, a driver’s licence, a National Identity Card or the INEC Permanent Voters Card. The provider’s pickup instructions say which ones it takes.
Does my recipient pay to receive the money?
The CBN’s guidelines say the contract between an operator and its agent must prohibit charging your recipient any fee other than the ones agreed with you at the start. A receiving bank can still have its own charges, so ask your recipient to check with their bank.
13 providers compared. The comparator shows what your recipient gets after fees and the exchange-rate margin.
More guides
Around this route
Sources
Pages read for this guide. Rules and procedures can change: check the official page before you act.
- BaFin: ZAG-Instituts-Register nach §§ 43, 44 ZAG (read on Nov 13, 2026)
- BaFin: Bei der BaFin beschweren (read on Nov 13, 2026)
- Gesetze im Internet: Zahlungsdiensteaufsichtsgesetz, § 62 Streitbeilegung bei einem Zahlungsdienstleister (read on Nov 13, 2026)
- Deutsche Bundesbank: Schlichtungsstelle, Organisation und Zuständigkeit (read on Nov 13, 2026)
- European Banking Authority: Register of payment and electronic money institutions under PSD2 (read on Nov 13, 2026)
- World Bank Data360: bilateral remittance estimates, 2021 (WB_KNOMAD_BRE) (read on Nov 13, 2026)
- World Bank: Bilateral Remittance Matrix (new), 2022 (read on Nov 13, 2026)
- Central Bank of Nigeria: Reviewed Guidelines of International Money Transfer Services in Nigeria, January 31, 2024 (read on Nov 13, 2026)
- Central Bank of Nigeria: International Money Transfer Operators (the licensed list) (read on Nov 13, 2026)
- NIBSS: NUBAN (Nigerian Uniform Bank Account Number) (read on Nov 13, 2026)