How to Avoid Remittance Scams When Sending Money to Nigeria

Scammers target people sending money to Nigeria because transfers are often urgent and emotional. Here's how to protect yourself and your money.

If It Sounds Too Good to Be True...

Any service promising rates significantly better than Wise or major providers is likely a scam. Legitimate services can't offer rates 10-20% better than the market.

Common Remittance Scams

1. Fake Transfer Services

🚨 Red Flags:

• WhatsApp-only or Telegram-based "services"
• Promising rates 10%+ better than Wise
• No physical address or proper licensing
• Payment requested to personal accounts
• Pressure to act immediately

2. BDC/Bureau de Change Fraud

🚨 Red Flags:

• Unlicensed operators found on social media
• No receipts or documentation
• Switching rates after you've sent money
• Disappearing after receiving your transfer

3. "Family Emergency" Scams

🚨 Red Flags:

• Urgent request claiming family member is in hospital/jail
• Pressure to send immediately without verification
• Request to send to someone you don't know
• Amount keeps increasing after initial transfer

Always verify: Call your family member directly on their known number before sending anything.

4. Crypto P2P Scams

🚨 Red Flags:

• Buyer sends fake payment screenshot
• Request to release crypto before payment confirms
• Trading outside official platforms (no escrow)
• Too-good-to-be-true rates on P2P

Safe practice: Only trade on platforms with escrow (Binance P2P, Paxful). Never release crypto until bank payment fully confirms.

How to Stay Safe

✓ Use Licensed Services Only

Stick to regulated services: Wise, WorldRemit, Remitly, Western Union. Check for FCA/FinCEN licensing.

✓ Verify Recipient Details

Always confirm bank account details directly with your recipient via voice/video call before sending.

✓ Be Skeptical of "Amazing" Rates

If someone offers rates much better than established services, they're probably planning to steal your money.

✓ Never Rush

Scammers create urgency. Take time to verify, even for "emergencies." Real emergencies can wait 10 minutes for you to call family.

What to Do If You've Been Scammed

1. Contact your bank immediately: Request reversal/chargeback if you paid by card or bank transfer
2. Report to authorities: File report with FTC (US), Action Fraud (UK), or your country's fraud agency
3. Report to platforms: If scam happened via Binance P2P, WhatsApp, etc., report the account
4. Document everything: Screenshots, messages, transaction records
5. Warn others: Share your experience to help prevent others from falling victim

Use Safe, Verified Services

Compare rates from licensed, regulated providers:

Compare Safe Providers →