Being able to send or transfer money to Nigeria from outside the country used to be a much easier task, thanks to a wide range of international money transfer services to pick from. A few months ago, the Central Bank shut down those operations.
For example, there was TransferWise, now Wise. It used to be one of the easiest means of international money transfers to Nigeria. Wise was affected by the clampdown and you can no longer send money to Nigeria using that service.
There are many such services that are no longer able to serve Nigeria.
The Central Bank have now come up with a list of approved international money operators through which you can transfer money to your loved ones in Nigeria.
Also, if you are based in Nigeria and do business with individuals and organisations outside the country, you need a way to have your payments get to you.
Below is the list of approved operators you, your loved ones, and clients can now use to transfer money to Nigeria.
You can transfer money to Nigeria using these approved International money transfer operators
This list of approved money transfer operators in Nigeria was published by the CBN on FEBRUARY 2021.
The list includes some mobile money operators in the country.
- AFTAB CURRENCY EXCHANGE LIMITED
- AZIMO LIMITED
- BELYFIELD LIMITED
- CAPEREMIT UK LIMITED
- CASHPOT LIMITED
- CENTREXCARD LIMITED
- CHIVE ING
- COLONY CAPITAL LIMITED
- CP EXPRESS LIMITED
- OT&T CORPORATION LIMITED
- eTRANZACT LIMITED
- FEM GROUP LLC DBA PING EXPRESS
- FIRST APPLE INC
- FLUTTERWAVE TECHNOLOGY SOLUTIONS LIMITED
- FORTIFIED FRONTS LIMITED – PAY LIMITED
- FUNDS & ELECTRONIC TRANSFER SOLUTION
- FUNTOUCH GLOBAL COMMUNICATIONS LIMITED
- GLOBAL CURRENCY TRAVEL & TOURS LIMITED
- HOMESEND SCRL
- IDT PAYMENT SERVICES INC
- MULTUREQA LIMITED
- INTERSWITCH LIMITED
- NAIRAGRAM LLC operating in Nigeria as NGN GRAM LIMITED
- NIGERIAN POSTAL SERVICE (NIPOST)
- NOUVEAU MOBILE LIMITED
- PAGATECH LIMITED
- PAYCOM NIGERIA LIMITED
- REMIT HUB CAFE LIMITED
- REMITLY INC.
- RIA FINANCIAL
- SHIFT FINANCIAL SERVICES LTD.
- SIMPLIFY INTERNATIONAL SYNERGY LIMITED
The most user friendly and most efficient of these international money transfer operators are those who have online platforms or mobile apps that allow you initiate your transfers from the comfort of your home, office, or wherever else you are.
They eliminate the need to take a trip to a banking hall or to a neighbourhood outlet.
Also, be sure to check out their fees. Some are.more pocket-friendly than others. Another factor you want to look at is the length of time it takes for the transfer to reflect in the destination account.
So, when checking them out, look for all these features. All the best.
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