FR
ENHow to send money from Italy to Nigeria
A transfer from Italy to Nigeria is priced in two parts, a fee and an exchange rate, and the fee you see first does not show the total. This guide goes through the transfer in order, with what to check at each step, and where to find the numbers 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. The fee is only one part of the price, and a provider can keep a margin on the exchange rate.
- Check the company in the Bank of Italy registers before your first transfer. If it comes from another EU country, check its home register too.
- Complain to the firm in writing first. The Arbitro Bancario Finanziario (ABF) can then look at the dispute.
- Type the recipient’s name and account number exactly as the bank holds them, and read them back before you pay.
About this route
World Bank estimates put the money sent from Italy to Nigeria at about 1.2 billion US dollars in 2021, around 6% of all the remittances Nigeria received. In these estimates it is the third-biggest route among those this site covers, after the United States and the United Kingdom. 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 10-digit Nigerian account number. 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 Italy 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
Check the company in the registers
Look it up in the Bank of Italy registers, or in the EBA register if it is based in another EU country, before you open an account. 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 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 receipt 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, quote the reference to the provider.
What it really costs
A transfer usually has two costs. 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 | 5 | 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 into the account number you typed. Nigerian banks use a standard 10-digit number (NIBSS: NUBAN), so a number of another length is worth checking again. 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
Public registers let you check a company that moves money for you. Before your first transfer:
- Search the Bank of Italy registers. The “Albi ed elenchi di vigilanza” tell anyone whether a bank or financial intermediary is registered and which services it may offer. They include payment institutions, e-money institutions, their agents and foreign firms authorised to operate in Italy. The same page lists persons who are not authorised to do banking or financial business in Italy (Banca d’Italia: consulting the registers, in Italian).
- Check the EBA register for a firm from another EU country. A firm based in another member state can serve customers in Italy under the freedom to provide services. The EBA keeps a central register of payment and e-money institutions authorised or registered in the EU and the EEA, free to search and updated by the national authorities at least once a day (EBA: payment institutions register).
- No trace, ask. If you cannot find the company, or the name you find is not the one on its website, ask it for its legal name and authorisation details before you send anything. If it cannot give them, do not go ahead.
If something goes wrong, the route is written down by the ABF (ABF: preliminary checks, in Italian):
- Write to the firm first. You have to make a written complaint to the firm before applying to the ABF. Keep a copy.
- Then the ABF. You can apply if the firm has not answered within 60 days, or within the shorter legal terms (15 working days for payment services), or if you are not satisfied with its answer. You cannot apply more than 12 months after your complaint to the firm.
- Check that the ABF covers the firm. Payment institutions and e-money institutions are covered. A firm from another EU country serving Italy under the freedom to provide services does not have to join the ABF if it belongs to a foreign out-of-court scheme in the FIN-NET network. The ABF secretariats can tell you which applies.
On the Nigerian side, the Central Bank of Nigeria 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.
- Taking an Italian website for an Italian licence. A firm can serve Italy from another EU country. Find out which register applies to it.
- 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.
- Complaining by phone only. The ABF asks for a written complaint to the firm first, so write, and keep a copy.
Questions
How long does a transfer from Italy 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 Italy to Nigeria?
No transfer is risk-free, but you can check the company first. Search the Bank of Italy registers, and the EBA register if the firm is based in another EU country, using the legal name shown on the company’s website. If you cannot find it, or the name you find is not the one on its website, do not open an account. If something goes wrong, write to the firm first: the ABF can then look at the dispute, although a firm from another EU country may belong to a foreign scheme instead.
How can I check a money transfer company in Italy?
Search its name in the Bank of Italy registers. If it is based in another EU country, search the EBA register of payment and e-money institutions, and use the legal name shown on the company’s website.
Can I take a dispute with a money transfer company to the ABF?
Yes, if the firm is one the ABF covers (payment institutions and e-money institutions are), after a written complaint to the firm and the waiting time described above, and if the dispute meets the conditions the ABF page lists. A firm from another EU country serving Italy may belong to a foreign scheme instead: ask the ABF secretariat.
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.
- Banca d’Italia: Consultazione albi ed elenchi di banche e altri intermediari (read on Nov 13, 2026)
- European Banking Authority: Register of payment and electronic money institutions under PSD2 (read on Nov 13, 2026)
- Arbitro Bancario Finanziario: Verifiche preliminari (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)