Send Money from the UK to Nigeria: Cheapest Ways (2026)

The cheapest way to send money from the UK to Nigeria is usually a regulated transfer app such as Remitly, Wise or WorldRemit, paid for by bank transfer and delivered to a Nigerian bank account. When we checked, each cost under 1% on £1,000. One big change to know about: since 1 May 2026, money transfer operators pay Nigerian recipients in naira only, not dollars.

Below: real quotes, the CBN rules, delivery options and the scams that target senders to Nigeria.

The quick answer

What it actually costs: a worked example

Each transfer has two costs: the fee, and the exchange-rate markup, which is how far the provider’s rate is below the real mid-market rate. With the naira, the rate matters even more than usual because it moves fast and different sources quote slightly different “market” rates.

Worked example: sending £1,000 to a Nigerian bank account (quotes checked 5 November 2026)

Wise’s mid-market rate at the time was about ₦1,846 per £1.

Remitly’s quoted rate was slightly above Wise’s mid-market figure that day. That reflects the naira’s rapid moves and differences in rate sources and timing, not a promise it will always be that way. The last line is illustrative, to show what a 3% margin costs: around £30 on £1,000, or roughly ₦55,000 less for your family. Our transfer cost calculator shows the cost for any rate.

Also from our checks: Wise’s fee on £1,000 went from £6.07 to £9.21 when paid by debit card instead of bank transfer. Paying by credit card costs more still and may count as a cash advance.

Our pick: Get quotes from Remitly and Wise on the day, and add WorldRemit if your family uses mobile money. Send with whichever delivers the most naira.

The main providers compared

Remitly

Remitly pays into Nigerian bank accounts (partners include Access Bank, GTBank and Fidelity Bank), offers mobile wallets such as MTN Mobile Money, and offers cash pickup. In our checks it charged no fee on £250 to £1,000. New customers get a promotional rate on the first £250 when paying by “Easy bank transfer” (checked November 2026; one per customer, limited time). Remitly says it refunds its fee if delivery is late.

Wise

Wise converts at the mid-market rate with a clear fee and pays into Nigerian bank accounts at banks including Access, GTBank, Zenith, UBA, First Bank and Stanbic IBTC. The recipient doesn’t need a Wise account. Its fee was about 0.55% plus a small fixed amount when paid by bank transfer. Read our Wise vs Revolut comparison if you’re also choosing an everyday account.

WorldRemit

WorldRemit offers bank transfer, mobile money, cash pickup and airtime top-ups. Its Nigeria page describes naira transfers to Nigerian accounts as fee-free and says bank transfers can take up to an hour. New customers get a first-transfer enhanced rate on selected routes (checked November 2026).

LemFi and other corridor specialists

Apps built around African corridors, such as LemFi, are popular with the Nigerian community in the UK. They often advertise no transfer fee, which means the cost is in the exchange rate. Check the firm is on the FCA register, then compare the naira received with Remitly and Wise.

Western Union

Western Union has a large agent network across Nigeria for cash collection. Its pricing depends on the amount, payment method and payout method, and its rate is often weaker than the apps above. See our Post Office and Western Union guide.

Revolut and your UK bank

Revolut Standard customers get fee-free exchange up to £1,000 a month, then pay a 1% fair-usage fee, with an extra markup at weekends (checked November 2026). UK banks can send by SWIFT, but expect a wider margin and possible intermediary charges. Check the amount arriving before you confirm.

Choosing a delivery method

Bank deposit. The standard choice. You need the recipient’s full name exactly as on the account, the bank name and their 10-digit NUBAN number. Name mismatches are the most common reason for delays.

Mobile money. Some providers can pay into mobile wallets such as MTN MoMo. It’s handy where bank access is limited, though wallet limits can be lower.

Cash pickup. The recipient collects at an agent with valid ID and the transfer reference. Since May 2026, cash from money transfer operators is paid in naira.

The CBN rules: naira or dollars?

The Central Bank of Nigeria has changed its remittance rules several times, so older advice online is often wrong.

• From late 2020: The CBN required remittances through international money transfer operators (IMTOs) to be paid out in foreign currency, either as dollar cash or into the recipient’s domiciliary account, and told IMTOs not to pay out in naira. Later guidance shifted, and summaries of the 2024 position conflict, which is why advice online is so inconsistent.
• From 1 May 2026: According to reports of a CBN circular dated 24 March 2026 (“Measures to Further Deepen Diaspora Remittances and Compliance”), IMTOs must route all transactions, including payments to beneficiaries, through designated naira settlement accounts with authorised dealer banks, and recipients are paid in naira. We couldn’t access the circular text itself, so the details come from Nigerian press and law-firm summaries (checked November 2026).

What this means for you:

• Expect naira at the other end with Remitly, Wise, WorldRemit, Western Union and similar services.
• If your family needs dollars, for school fees abroad or to save in a domiciliary account, ask their Nigerian bank which inbound routes it accepts. A bank-to-bank international transfer in US dollars from your own UK bank may be possible, but it’s usually more expensive, and the rules could change again.
• Exchange-rate risk now sits with the recipient once naira has landed. If the naira weakens, the money buys less.

How to send money to Nigeria from the UK: step by step

1. Get the recipient’s details. Full name as on the bank account, bank name and NUBAN account number, or their mobile wallet number.
2. Compare quotes. Enter the same amount in Remitly and Wise, plus WorldRemit or a specialist. Compare naira received, not fees.
3. Verify your identity. Upload your passport or driving licence and sometimes proof of address. Do this before the money is urgent.
4. Check names carefully. A name that doesn’t match the account can mean the transfer is held or returned.
5. Pay by bank transfer. It’s usually the cheapest funding method.
6. Share the reference. Give the recipient the tracking or pickup reference, especially for cash collection.

Safety and scam warnings

• Use FCA-regulated firms. Check any app you don’t know on the FCA Firm Checker. The main brands above are regulated in the UK.
• Avoid social-media “rate dealers”. People on WhatsApp, Telegram or Instagram offering naira at well above the market rate are a frequent source of fraud. If the money doesn’t arrive, there’s no one to complain to.
• Romance and “urgent help” scams. Scammers pose as partners, relatives or officials needing money for fees, customs or medical bills. Verify by calling on a number you already know.
• Never let your account be used to move money. “Receive and forward payments for a cut” is money-mule recruitment. The FCA warns it can be a serious criminal offence.
• Protect PINs and codes. Tell family never to share bank OTPs or app PINs, even with someone claiming to be from the bank.

If you think you’ve been scammed, call your provider or bank straight away, then contact Report Fraud (formerly Action Fraud) on 0300 123 2040.

Bottom line

For UK-to-Nigeria transfers, compare Remitly and Wise (and WorldRemit) on the day, pay by bank transfer and send to a correctly named Nigerian bank account. Plan on the money arriving in naira. Avoid informal dealers, however good the rate looks. For more ways to cut costs, see our cheapest way to send money abroad guide and the wider best way to send money abroad pillar.