Sending money to Nigeria: costs and inflows
- Latest RPW quarter
- Q3 2025 1
- United States to Nigeria, US$200
- 2.72% average total cost, Q3 2025 1
- United Kingdom to Nigeria, £120
- 1.96% average total cost, Q3 2025 2
- Ghana to Nigeria, US$200 equivalent
- 13.29% average total cost, Q3 2025 3
- Remittance growth in 2025
- About 12%, CBN Governor, 28 November 2025 6
- IMTO inflows, January to July 2026
- US$3.8 billion, as reported by NAN 7
Average cost by corridor
The World Bank Remittance Prices Worldwide (RPW) database publishes these Q3 2025 averages for corridors into Nigeria 1,23. Total cost is the fee plus the exchange rate margin, shown as a share of the amount sent 4.
| Corridor | Amount | Average fee | Exchange rate margin | Average total cost | Quarter |
|---|---|---|---|---|---|
| United States to Nigeria 1 | US$200 1 | US$4.47 1 | 0.48% 1 | 2.72% (US$5.43) 1 | Q3 2025 1 |
| United Kingdom to Nigeria 2 | £120 2 | £1.47 2 | 0.73% 2 | 1.96% (£2.35) 2 | Q3 2025 2 |
| Ghana to Nigeria 3 | US$200 equivalent 3 | GHS 21.29 3 | 6.20% 3 | 13.29% (GHS 39.87) 3 | Q3 2025 3 |
When the prices were collected
Types of provider
RPW groups providers as banks, money transfer operators (MTOs), mobile operators and post offices 4. The United States to Nigeria sample lists bank and MTO services 1. The United Kingdom to Nigeria sample lists MTO services and a post office service 2. The Ghana to Nigeria sample lists bank and MTO services 3. None of the three samples lists a mobile operator 1,23.
Across all corridors in Q3 2025, banks averaged 14.99%, MTOs 4.72% and post offices 5.58% 4.
Central Bank of Nigeria figures and rules
CBN Governor Olayemi Cardoso said on 28 November 2025 that remittances increased by approximately 12% that year 6. He said the CBN expected the momentum to continue as the Non-Resident BVN becomes more widely adopted in 2026 6.
In a statement issued in August 2026, Cardoso said inflows through International Money Transfer Operators (IMTOs) were US$947 million in July 2026 and US$3.8 billion in the first seven months of 2026, as reported by Abdulrahman Kadiri of the News Agency of Nigeria 7. The report said the seven-month figure was 50.2% higher than the same period in 2025 7.
The CBN lists these steps on its reforms page 5:
- 31 January 2024: a framework for the licensing and operations of IMTOs 5.
- 10 January 2025: Non-Resident Nigerian accounts for remitting foreign earnings to Nigeria 5.
- 13 May 2025: the Non-Resident Bank Verification Number platform, which lets Nigerians abroad obtain a BVN remotely 5.
- 24 March 2026: a circular requiring all IMTOs to open designated naira settlement accounts with authorised dealer banks in Nigeria 5.
How Nigeria corridors compare
The Q3 2025 averages from the United States and the United Kingdom were below the Sub-Saharan Africa average of 8.46% 1,24. The Ghana to Nigeria average was above it 3,4.
Common questions
What does it cost to send US$200 from the US to Nigeria?
The RPW average for Q3 2025 was 2.72%, or US$5.43 1.
What does it cost to send money from the UK to Nigeria?
The RPW average for sending £120 in Q3 2025 was 1.96%, or £2.35 2.
Can Nigerians abroad get a BVN without travelling home?
Yes. The CBN launched the Non-Resident BVN platform on 13 May 2025 so Nigerians abroad can obtain a BVN remotely 5.
How much do Nigerians abroad send through IMTOs?
US$3.8 billion in January to July 2026, according to a CBN Governor statement, as reported by the News Agency of Nigeria 7.
Rules and fees change. Check the official site linked above before you apply or pay. Spotted an error? Email [email protected] with the official link.
Sources
- World Bank Remittance Prices Worldwide: Sending money from the United States to Nigeria (Q3 2025 data)
- World Bank Remittance Prices Worldwide: Sending money from the United Kingdom to Nigeria (Q3 2025 data)
- World Bank Remittance Prices Worldwide: Sending money from Ghana to Nigeria (Q3 2025 data)
- World Bank: Remittance Prices Worldwide main report and annex, Q3 2025 data
- Central Bank of Nigeria: CBN Reforms and Initiatives (accessed 20 October 2026)
- Central Bank of Nigeria: Keynote address by the Governor at the CIBN Annual Bankers Dinner (28 November 2025)
- News Agency of Nigeria, Abdulrahman Kadiri: $947m July remittances highest monthly inflow, CBN (30 August 2026)
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