How to Receive Money from Abroad in Nigeria: Complete Guide (2025)

Expecting money from family abroad? This guide explains all the ways to receive international transfers in Nigeria, from bank deposits to cash pickup to crypto.

Ways to Receive Money

• 1. Nigerian Bank Account
• 2. Domiciliary Account (USD/GBP/EUR)
• 3. Cash Pickup
• 4. Mobile Money
• 5. Crypto (USDT)

1. Receiving to Nigerian Bank Account (Naira)

The most common method. Money arrives in naira directly to your account.

What You Need

• Nigerian bank account (savings or current)
• 10-digit account number
• Bank name
• Full name matching your account

Supported Banks

All major Nigerian banks receive international transfers:

GTBank Access Bank Zenith Bank First Bank UBA Fidelity Bank Kuda OPay PalmPay

How It Works

1. Give sender your account number and bank name
2. Sender uses Wise, WorldRemit, Remitly, etc.
3. Money converts to naira at transfer rate
4. Naira arrives in your account (minutes to 1-2 days)

Pro Tip

Ask your sender which service they're using. If it's WorldRemit or Remitly, money usually arrives within minutes. Wise takes 1-2 days.

2. Domiciliary Account (Keep USD/GBP/EUR)

A domiciliary account lets you receive and hold foreign currency without converting to naira.

Why Use a Domiciliary Account?

• Hold USD/GBP/EUR and convert when rates are good
• Pay for international services directly
• Protect against naira depreciation
• Fund foreign travel

How to Open One

1. Visit your bank with valid ID (passport, NIN, driver's license)
2. Request a domiciliary account (USD, GBP, or EUR)
3. Minimum deposit varies (often $100-500)
4. Receive account number and SWIFT code

Note

Most fintech services (Wise, WorldRemit) don't support direct USD transfers to Nigerian domiciliary accounts. For dom account transfers, the sender typically needs to use a bank wire (SWIFT), which is more expensive.

3. Cash Pickup

Don't have a bank account? Pick up cash at an agent location.

Cash Pickup Networks in Nigeria

• Western Union: Banks, post offices, agent locations nationwide
• WorldRemit: Access Bank, Fidelity Bank, Paga agents
• MoneyGram: Banks and dedicated agents
• Remitly: Access Bank branches

What You Need to Collect

• Valid government ID (NIN, passport, driver's license)
• MTCN/Reference number (sender provides this)
• Sender's name
• Amount being sent

4. Mobile Money

Receive directly to your mobile wallet:

• MTN Mobile Money
• Paga
• OPay

Services like WorldRemit and Remitly support mobile money transfers to Nigeria.

5. Receiving Crypto (USDT)

Often the best rates, but requires some setup:

1. Create account on Yellow Card, Busha, or Quidax
2. Get your USDT wallet address
3. Sender buys USDT abroad and sends to your wallet
4. Sell USDT for naira at Nigerian market rate
5. Withdraw to your bank account

This method often yields 3-5% more naira than traditional transfers.

FAQs

Do I pay any fees to receive money?

For most fintech transfers (Wise, WorldRemit, Remitly), you pay nothing to receive. Bank wires may have receiving fees of ₦2,000-5,000.

How long does it take to receive money?

WorldRemit/Remitly: Minutes. Wise: 1-2 days. Bank wire: 3-5 days.

What's the maximum I can receive?

There's no legal limit on receiving money. However, large amounts (over $10,000 equivalent) may require documentation.

Tell Your Sender About Better Options

Share our rate comparison so they can send you more naira:

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