What's the cheapest way to send money from UK to Nigeria?

The cheapest way to send money from UK to Nigeria is through an online provider. Among the 3 available, TransferGo was most often the cheapest provider (in 65.1% of the searches on Monito.com in the past 3 months).

What are the best providers to send money from UK to Nigeria?

Here are the providers that were the most often the cheapest in the comparisons of the past 30 days on Monito.com: TransferGo (cheapest in 65.1% of the searches) WorldRemit (cheapest in 34.8% of the searches) Instarem (cheapest in 0.1% of the searches)

How much does it cost to send money from UK to Nigeria?

If you send money with the cheapest available provider, the total cost of a GBP-NGN transfer was -37.5% of the transfer amount (including all fees and exchange rates) over the past month. In contrast, the cost of the most expensive option was -5.5%.

What is the fastest option to send money from UK to Nigeria

The provider that was most often the fastest provider in comparisons of the past 30 days was TransferGo (average fastest transfer time: In minutes)

Find the best ways to send money to Nigeria from UK

Monito's comparison engine is trusted by 6 million users every year
Monito users have saved nearly $40 million in fees to date!
We only recommend regulated and secure companies.

As featured on

Top Provider For transfers from UK to Nigeria

Based on 4,246 comparisons made by Monito users in the past 3 months.

Compare live results

Top provider
8.9

Cheapest

in 65% of all comparisons
Top rated

in 93% of all comparisons
Fastest

in 86% of all comparisons
Go to TransferGo
Cheapest

in 65% of all comparisons
Top rated

in 93% of all comparisons
Fastest

in 86% of all comparisons

Best of 3 providers. Compare all

Stay on top of the market

1 GBP = NGN Mid-market exchange rate

Get our email alerts

We'll send you the exchange rate, best deal, and other helpful tips.

25M+ comparisons made

With more than 7 million searches per year, Monito's real-time comparison engine is a world leader in comparing international money transfer services.
$80M+ in transfer fees saved

By choosing a transfer service found on Monito, the average user pays a total of just 0.59% in fees and exchange rates. Compared to the 4.6% paid at a bank or traditional cash transfer service, Monito users have saved around $80 million in total to date!
200+ providers compared

For every service appearing on Monito, our experts build in-depth reviews using dozens of verifiable criteria to make clear, actionable recommendations to guide your decisions.
2,000+ in-depth guides

Far too often, sending money abroad is both pricey and problematic. That's exactly why our team of experts works tirelessly to offer the most in-depth, up-to-date, and helpful consumer advice.

Monito's Recommendations for Sending Money from UK to Nigeria

Advertiser disclosure

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best-suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from UK to Nigeria:

Best Ways to Send Money from UK to Nigeria

The best rated: TransferGo (8.9/10)
The cheapest: TransferGo and WorldRemit
The fastest: TransferGo

Frequently Asked Questions

What's the cheapest way to send money from UK to Nigeria?

The cheapest way to send money from UK to Nigeria is through an online provider. Among the 3 available, TransferGo was most often the cheapest provider (in 65.1% of the searches on Monito.com in the past 3 months).
What are the best providers to send money from UK to Nigeria?
Here are the providers that were the most often the cheapest in the comparisons of the past 30 days on Monito.com:
- TransferGo (cheapest in 65.1% of the searches)
- WorldRemit (cheapest in 34.8% of the searches)
- Instarem (cheapest in 0.1% of the searches)
How much does it cost to send money from UK to Nigeria?

If you send money with the cheapest available provider, the total cost of a GBP-NGN transfer was -37.5% of the transfer amount (including all fees and exchange rates) over the past month.
In contrast, the cost of the most expensive option was -5.5%.
What is the fastest option to send money from UK to Nigeria

The provider that was most often the fastest provider in comparisons of the past 30 days was TransferGo (average fastest transfer time: In minutes)

About Money Transfers from UK to Nigeria

Monito compares 3 providers offering international money transfer services from UK to Nigeria. The total cost of the cheapest available option at any given point in the past month was -37.5% of the transferred amount. In comparison, the total cost of the most expensive provider was on average -5.5%.

💸 Number of providers	3
🏆 Cheapest provider (on average)	TransferGo
💰 Lowest total cost (on average)	-37.5%
💰 Highest total cost (on average)	-5.5%
💸 Most transferred amount	100 GBP
⚡ ️Fastest transfer time	In minutes
💳 Pay-in options	Bank transfer, Debit card, Credit card
💵 Pay-out options	Bank account
👍 Recommended providers	Instarem, WorldRemit, TransferGo

Get More Naira for Your Pounds by Comparing When Sending Money to Nigeria

You're probably sending money to Nigeria to support your loved ones, and the money you send has a big impact on your family back home. That's why it's important that you compare all your options before your next transaction, ensuring you get the best GBP-NGN exchange rate to convert your pounds into naira.

Your bank is generally not an option to send money to Nigeria, and you can anyways find better exchange rates by using specialized money transfer operators, such as Azimo, WesternUnion or WorldRemit, which offer low-cost money transfer to Nigeria and are very convenient to use, whether you want to send money to a bank account in Lagos, as a mobile top-up anywhere, or to a cash pick-up agency in Kano, Kaduna or any other city.

The Key Things You Must Know Before Transferring Money to Nigeria

Sending money to Nigeria with low transfer fees and a good exchange rate is not as easy as it might seem, or at least not as easy as it should be.

Recently, Nigeria went through many economic changes, which greatly impacted its currency, the Naira, which has been depreciating against the dollar or the pound. This is a difficult situation for the economy in Nigeria, but it is rather good news for people sending money to Nigeria, as they get more Naira for their Pounds than before. But it also created a lot of instability in the currencies market, and the Central Bank of Nigeria is intervening in this market to prevent the Naira from falling even more. But because the demand for dollars and other foreign currencies is still very strong in Nigeria, a huge parallel market has emerged, where more than $10M are exchanged daily.

With this instability, it is now more important than ever to compare the fees and exchange rates of the different providers sending money to Nigeria to ensure you get access to the best exchange rate possible.

Exchanging Your Pounds for Naira, the Official and Parallel Exchange Rate Market

There are now two different markets for trading the Naira, the official and the parallel market (or black market), meaning that there are also two different reference exchange rates, the official that is pegged to the USD by the Central Bank of Nigeria, and the parallel market rate.

Only a limited number of money transfer providers are allowed by the Central Bank of Nigeria to offer money transfers to Nigeria. Among them, some trade on the official market and others on the parallel market, meaning that the exchange rate they will offer to their clients will vary a lot.

What Are the Cheapest Options To Send Money to Nigeria?

To find the best option for your transfer, always refer to the comparison table above by comparing the exact amount you want to send to make sure to find the current best provider.

As a general rule of thumb, your best guess is to make your transfer via one of the online money transfer providers, like Xendpay or WorldRemit. Western Union can also be a good option, as they allow you to send money from an agent location in the UK, but this generally means you'll pay more. Sending money directly by a wire transfer from your bank account in the UK to a bank account in Nigeria is generally a bad idea, as the exchange rate you'll get will be much worse than what other providers offer.

Best Rated Providers to Send Money from UK to Nigeria

8.9

Go to TransferGo

8.4

Read the full review

8.3

Read the full review

[Breaking news] Here is the updated list of money transfer services authorized by Central Bank of Nigeria

August 31, 2016 - by François Briod

The Best 7 Apps to Send Money to Nigeria in 2024

February 29, 2024 - by Jarrod Suda

Best Money Transfer Apps in Africa

January 9, 2024 - by Jarrod Suda

Cheapest Ways to Send Money to Africa

October 13, 2023 - by Byron Mühlberg

Can I Receive Money From Nigeria Through M-Pesa? (Answered!)

August 18, 2023 - by Lydia Kibet

How To Receive Money From Abroad in Nigeria

March 3, 2023 - by Jarrod Suda

How to Withdraw Money from Ecobank without an ATM card

September 15, 2022 - by Olivia Willemin

See Monito's In-Depth Money Transfer Guides

Best Ways To Send Money Internationally

March 27, 2024 - by François Briod

Fastest Ways To Send Abroad

November 22, 2022 - by François Briod

Transfer Specialists vs Banks

November 22, 2022 - by Byron Mühlberg

Best Money Transfer Services

October 11, 2023 - by François Briod

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

You save money on your transfer by selecting the cheapest provider.
The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.
Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

How can I use Monito to find the best option to send money to Nigeria?

Before each international money transfer, you should come and compare the costs of the different options on Monito, as they may have changed. The cheapest option is at the top, of our results but you may want to consider other criteria such as the speed of transaction or the pay-in or pay-out methods.
I simply use my bank to send money to Nigeria, do I really need to compare other options?

Of course! Banks are usually not the best way to make international money transfers. The fees can be quite low (and sometimes even zero), but beware of the poor exchange rates which banks often apply. We list as many banks as possible in our results, so do compare to find out if you’d be better off switching to another bank or a specialized money transfer company.
Can I trust a company I found on Monito but never heard about before?

Yes. We only list money transfer operators or banks that are fully authorized and monitored by the regulation authorities of the countries where they operate.
Is it possible to send money with Monito, or are you just a service to compare money transfer services?

Monito is not a money transfer company. We’re here to help you find the best way to send money to Nigeria.

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe.

Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn more about Monito

Monito is Trusted by 15+ Millions Users across the globe.
Monito's experts spend hours researching and testing services
Affiliate commissions we may receive never impact our independence

Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.