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Guide to NGN transfers

Guide to NGN transfers

Because of a recent change in regulation by the Central Bank of Nigeria, we’re no longer able to support transfers to NGN.


Here you’ll find answers to the most common questions about Nigerian naira (NGN) transfers.

You can’t currently send money from NGN. 

Check the latest fees

Sending to NGN

Who can I send NGN to?

You can send NGN to individual and business bank accounts in Nigeria.

What information do I need about my recipient?

You’ll need to know their full name (English characters only), and their 10-digit account number or NUBAN. 

How much can I send?

You can send up to 4 million NGN per transfer.

How long does it usually take for the money to arrive?

Once we receive and convert your money, it usually arrives in your recipient’s bank account on the same working day. Conversion can take up to 2 working days. 

We’ll always give you an estimate for how long your transfer will take when you set it up.

Learn more about how long transfers take

Is there any other information I need to know?

At Wise, we use mid-market exchange rates from independent providers. Due to regulations, we can’t use these providers to get exchange rates for transfers to Nigeria. But we still don’t make money off the exchange rate, same as with all our other currencies.

The Central Bank of Nigeria informs us of the rate we can sell NGN against the USD. At the moment, the USD to NGN rate is 388.

If you want to convert another currency into NGN (such as GBP to NGN), then we calculate the exchange rate by using the GBP to USD mid-market rate at the time you create your transfer, and multiplying the GBP to USD rate by the USD to NGN rate.

As an example, this would look like:

  • GBP to USD rate: 1.24

  • USD to NGN rate: 388

  • So the GBP to NGN rate: 1.24 x 388 = 481.12

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Wise is the trading name of TransferWise, which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money.