Send Money to Nigeria — Compared
Compare 10 remittance platforms side-by-side. Calculator shows which delivers the most naira for your dollars, pounds, euros, Canadian dollars or dirhams — with fees, exchange-rate markup, and delivery speed.
💸 How much naira will your family receive?
Compare 10 platforms — see which delivers the most naira.
What ₦696,015 buys in Lagos
Quick context using prices Lagos.cool tracks across rent, market, power and healthcare.
All Remittance Providers Compared
Fee structure, exchange rate markup, delivery options and ratings
| Provider | USD fee | Markup | Total cost* | Speed | Delivery | Rating |
|---|---|---|---|---|---|---|
💚Wise Best overall — most transparent, cheapest for large transfers. | $2.40 | 0.50% | 0.98% | Minutes-24hrs | Bank | ⭐ 4.4 Trustpilot |
🟣LemFi Zero flat fee — best for frequent small transfers. | $0.00 | 0.80% | 0.80% | Minutes | BankWallet | ⭐ 4.5 Trustpilot |
🔵Remitly Best first-time offer — promotional rate beats everyone else on transfer #1. | $3.99 | 1.50% | 2.30% | Minutes (Express) | Bank | ⭐ 4.6 Trustpilot |
🟢WorldRemit Best for cash pickup and airtime — most delivery options. | $3.99 | 1.00% | 1.80% | Minutes-1 day | BankWalletCashAirtime | ⭐ 3.8 Trustpilot |
⚫Grey.co Best for Nigerian remote workers — virtual USD/GBP accounts. | $1.50 | 0.60% | 0.90% | Minutes | Bank | ⭐ 4.3 Trustpilot |
🟡Chipper Cash Best for P2P within Africa — zero fee between Chipper users. | $0.00 | 1.00% | 1.00% | Minutes | BankWallet | ⭐ 3.8 Trustpilot |
🟠Western Union Largest cash pickup network — best for recipients without bank accounts. | $7.99 | 2.00% | 3.60% | 1-3 days | BankCash | ⭐ 3.5 Trustpilot |
🔴MoneyGram Second-largest cash network — Walmart partnership in the US. | $4.99 | 1.50% | 2.50% | 1-2 days | BankCash | ⭐ 3.6 Trustpilot |
🌍Afriex Fastest — under 20 seconds. Virtual USD accounts for freelancers. | $0.00 | 0.50% | 0.50% | Under 20 seconds | Bank | ⭐ 4.2 Trustpilot |
💜OPay Best for receiving into mobile wallet — no bank account needed. | — | 0.50% | — | Instant | BankWallet | ⭐ 4.0 Trustpilot |
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$23 billion — how remittances became bigger than oil for Nigerian families
Nigeria received $23 billion in remittances in 2025 — more than the country earned from oil exports during several months of that year. For Lagos specifically, remittances are the financial lifeline connecting 1.5 million Nigerians abroad to families at home. The CBN's formal remittance channel now processes $600 million per month, up from $200 million just two years ago, with a target of $1 billion per month by end-2026. Foreign reserves surged to $50.12 billion — the highest in 13 years — partly fueled by this flood of diaspora dollars.
But the platform you choose to send money through can cost your family tens of thousands of naira per transfer. On a $500 transfer, the difference between the best and worst provider is typically ₦15,000-₦50,000. Over 12 monthly transfers, that gap compounds to ₦201,300/year — enough to cover 1months of rent in parts of Lagos. The culprit is the combination of flat fees and exchange rate markups. Western Union might charge $7.99 flat plus a 2% rate markup, while Wise charges $2.40 flat with zero markup. On paper, both “send $500.” In practice, your family receives ₦16,775 less through Western Union.
The parallel vs official rate gap has narrowed dramatically — from 50%+ in 2023 to under 2% in 2026. This means sending through formal channels (Wise, Remitly, LemFi) now delivers nearly the same naira as the informal “black market” route, without the risk. The CBN's strategy is working: by making the official rate competitive, more dollars flow through regulated channels, building reserves and stabilizing the naira. For senders, this means the best digital platforms now deliver 98-99% of the black market rate with the safety, speed, and documentation of a regulated transfer.