We are happy to give you a few tips to help with bank transfers in Nigeria.
Sending in USD
Please note that the Central Bank of Nigeria requires that all remittances to Nigeria be done in USD only.
- If you are sending to an existing USD bank account, then it’s fine!
- If you are sending to a bank account that is in Naira, then the bank of your recipient will create a new USD account for them and will get in touch directly to arrange everything.
- Exception: if you send to a Naira bank account at Wemabank, the transfer will fail and you will have to retry but ensure you are sending to a USD bank account
Naira incentive
- "CBD Naira 4 dollar scheme" has ended, and the Central Bank of Nigeria is no longer giving extra amounts on transactions made to USD accounts.
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