FR
ENHow to send money from the United Kingdom to Nigeria
A transfer from the United Kingdom to Nigeria has two costs: the fee you are shown and the exchange rate you are given. This guide goes through it in order, with what to check at each step, and where to find the numbers in the comparator.
12 providers compared. The comparator shows what your recipient gets after fees and the exchange-rate margin.
In short
- Compare what your recipient receives. A transfer with no fee can still carry a margin on the exchange rate.
- Look the company up on the FCA Register before your first transfer, by its legal name and not only the brand.
- Money held by a non-bank payment provider is not covered by the FSCS, but the firm may have to safeguard it in other ways. Ask how it protects yours.
- If something goes wrong, complain to the firm first. You can then go to the Financial Ombudsman Service, which is free.
About this route
World Bank estimates put the money sent from the United Kingdom to Nigeria at about 2.8 billion US dollars in 2021, around 14% of all the remittances Nigeria received. In these estimates only the United States sends more. They are modelled estimates, based on migrant numbers and incomes (World Bank data, method note).
Before you start
- Proof of who you are. Expect to be asked to prove your identity before your first transfer. Have photo ID such as a passport or a driving licence ready, and use your name exactly as it appears on it.
- Your recipient’s details. For a bank deposit: their full name 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.
- How you will pay. Providers take a UK 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.
- A little time. A first transfer, or a large one, can be held while the firm runs 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 the United Kingdom 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 on the FCA Register
Find the legal name of the company behind the brand, usually at the bottom of its website or in its terms, and look it up before you open an account. The steps are in “Check the firm and know your rights” below.
- 4
Open the account and prove your identity
You will give your name, address and date of birth and upload your ID. Some providers also ask for a selfie. The name on the account has to be the name on the ID.
- 5
Enter your recipient’s details
Type the name and the account number slowly, then read them back against the message your recipient sent you. If you paste the number, check that no space came with it.
- 6
Read the final quote before you pay
The FCA lists it as good practice for a firm to show you the exchange rate, any margin on it, the fees and the amount your recipient receives before you commit. 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 and send it to your recipient. If the money is late, quote the reference to the firm.
What it really costs
Two things usually take money out of a transfer. 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, and it is not always spelled out. The FCA, which calls it a markup, lists as poor practice presenting the absence of a fixed fee as a “zero cost transaction” despite charging a markup. The amount your recipient receives is the figure to compare.
Example with 250 £, from our estimates of Nov 14, 2026. At the mid-market rate of Nov 13, 2026, 250 £ is worth 444,517 NGN. After fees and the exchange-rate margin, the 12 providers compared would deliver:
| Estimate | Fee | Margin on the rate | Your recipient gets |
|---|---|---|---|
| Most favourable | 1.99 £ | 0.0 % | 440,978 NGN |
| In the middle | 1.67 £ | 1.5 % | 434,924 NGN |
| Least favourable | 6.69 £ | 3.5 % | 417,480 NGN |
From the most to the least favourable estimate the gap is 23,498 NGN, about 13 £ 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 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 firm and know your rights
In the UK, a non-bank company that moves money for you must be authorised or registered with the Financial Conduct Authority (FCA). Before your first transfer:
- Search the FCA Register for the company behind the brand. The FCA says brand names are not always listed, so look for the name of the company operating behind it. The register shows whether it is a bank or a non-bank payment provider, and whether it has permission for the service it offers you (FCA: using payment service providers).
- Know what protects your money. If a non-bank payment provider goes out of business, the Financial Services Compensation Scheme does not cover your money. Electronic money institutions and authorised payment institutions must safeguard it, in a separate account with a bank or with an insurance policy or similar guarantee. You should get most of it back, but it can take time and may not be the full amount.
- Ask the firm what protection it has. A small payment institution does not have to safeguard your money. If you are not sure what protection a firm has, ask it.
If something goes wrong, complain to the firm first (FCA: how to complain):
- The firm normally has 15 business days. A payment service provider must normally respond to certain complaints, or explain the delay, within 15 business days, and give you a final response within 35 business days of your first complaint.
- Then the Financial Ombudsman Service. If you are unhappy with the response, or it does not come in time, you can take the complaint to the Ombudsman, which is free. Contact it within 6 months of the final response, or it may not be able to help.
- What the Ombudsman handles. Its page on sending money abroad covers specialist money transfer and remittance businesses, and lists charges, money that is late or does not arrive, transfers that cannot be cancelled or recalled, and the exchange rate used among the usual complaints (Financial Ombudsman Service: sending money abroad).
On the Nigerian side, the CBN licenses the international money transfer operators (IMTOs) that pay out in Nigeria:
- 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 of an operator. It must disclose the exchange rate, the commission, the fees and any other amount charged, pay in naira at the prevailing rate in 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. If you are still not satisfied, you can escalate to the Consumer Protection Department of the CBN.
Mistakes to avoid
- Reading “no fee” as “no cost”. A margin on the exchange rate is a cost too. Compare the amount your recipient receives.
- Searching the register for the brand only. The register lists the company, which can trade under another name. Find the legal name first.
- 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 firm.
- Treating the app like a bank. The FSCS does not cover money left with a non-bank payment provider, which may have to safeguard it in other ways. Our advice: leave in the app only what you are about to send.
Questions
How long does a transfer from the United Kingdom 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 firm checks your identity.
Is it safe to send money from the United Kingdom to Nigeria?
No transfer is risk-free, but you can check the firm first. Search the FCA Register for the company behind the brand: it shows whether it is a bank or a non-bank payment provider and whether it has permission for the service it offers you. Money held by a non-bank payment provider is not covered by the FSCS, so our advice is to leave in the app only what you are about to send, and to ask the firm how it protects your money. If something goes wrong, the firm must normally respond to certain complaints, or explain the delay, within 15 business days, and the Financial Ombudsman Service is free.
Is my money protected if the firm goes out of business?
Not by the FSCS, the FCA says. Authorised payment institutions and electronic money institutions must safeguard customer money, and small payment institutions do not have to. The FCA Register shows whether a firm is a bank or a non-bank payment provider, and what it has permission to do.
Who can I complain to if the money does not arrive?
The firm first. If you are unhappy with its answer, or it does not answer in time, you can go to the Financial Ombudsman Service within 6 months of the final response.
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.
12 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.
- FCA: Using payment service providers (read on Nov 13, 2026)
- FCA: Consumer Duty, international payment pricing transparency (good and poor practice) (read on Nov 13, 2026)
- FCA: How to complain (read on Nov 13, 2026)
- Financial Ombudsman Service: Sending money abroad (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)