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Find the best ways to send money to Nigeria from UK

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We've found one provider for a 200 GBP transfer from UK to Nigeria

Results updated 3 days ago.

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Transfer 200 GBP to a bank account

One provider

  • Best deal
    InstaReM
    8.0
    In minutes

    Recipient gets

    • Pay by: Debit card

      95,381 NGN

We source transfer fees, rates and other data from money transfer providers in different ways - in most cases in real time. We constantly monitor the quality of our comparison data, but we cannot guarantee its accuracy.

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How to send money from UK to Nigeria at the best rate?

We currently only list one provider for transfers to Nigeria.

To transfer Pounds sterling to a bank account in Nigerian nairas in Nigeria, the most competitive option is currently InstaReM, with competitive fees of 6.4 GBP and a competitive GBP-NGN exchange rate (their current exchange rate is 1 GBP = 492.6702 NGN).

This recommendation was updated a few minutes ago.

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Monito's Recommendations for Sending Money from UK to Nigeria

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:

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Best Ways to Send Money from UK to Nigeria

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 really important that you compare all your options before your next transaction, making sure 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 rate 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 at it should be.

Recently, Nigeria went through a lot of economical changes, which had a big impact on it 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 a 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 on this market to prevent the Naira to fall even more. But because the demand for dollars and other foreign currencies is still very strong in Nigeria, a huge parallel market has emerge, where more than $10M are exchanged every day.

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 make sure you get access the best exchange rate possible.

Exchanging your pounds for naira, the official and parallel exchange rate market

There are now two different market 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 for the exact amount you want to send, in order to make sure to find the current best provider.

A a general rule of thumb, your best guess is to make your transfer via one of the online money transfer provider, like Azimo, Xendpay or WorldRemit. Western Union can also be a good option, as they also give you the possibility to send money from an agent location in the UK, but this generally means you'll pay more fees. 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 are offering.

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

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.

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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.

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