Enter your and your recipients details easily and securely online - it only takes a few minutes. Money is converted to a naira equivalent when sent to your local account.
Nigeria S Naira For Dollar Incentive Not Enough To Bolster Currency
Consequently anyone hoping to receive money via bank transfer from abroad would require a US dollar bank account in Nigeria.
Receive dollars in nigeria. The person sending you money can forward the transfers confirmation details called a PIN a MTCN a reference number or a tracking number depending on the company. There are a lot of ways to receive money in Nigeria. Nigerians abroad will still be able to send money home using Bank to Bank Wire Transfers and Western Union but you will only receive Naira equivalent not US dollar.
In a move to boost US Dollar supply into the economy the Central Bank of Nigeria CBN announced on 30 th November 2020 new rules that allow beneficiaries of diaspora remittances to receive US Dollar foreign currency either into their USD domiciliary foreign currency account or as cash pick-up from bank branches. Like someone previously posted wire transfer is the means of sending outside Nigeria for you to receive it in Canadian dollars as you requested and such reception will have to be into your Canadian bank account at the prevailing market rate plus the sending feescharges to be paid by your Nigerian sender in Nigerian Naira equivalent while sending - usually between 25 and 30 and receiving feescharges to be paid by you from the amount you are receiving. With a domiciliary account you can receive and send money anywhere in the country from Nigeria.
How receive money in person at a MoneyGram agent location in Nigeria The Central Bank of Nigeria has directed that all payouts in Nigeria are to be received in US Dollars. With thousands of agent locations nationwide its easy to receive money from a location near you. To receive money in Nigeria via Quickteller through western Union to your bank account.
The maximum amount of money to send to Nigeria as stipulated by the Central Bank of Nigeria is 5000usd naira equivalent per sender. You will also get a dollar MasterCard that you can as well used for online purchase. By the end of 2019 annual remittances to Nigeria stood at 175 billion according to information obtained from Central Bank of Nigeria.
At such dollar critical time like this these methods will help you get dollars to your domiciliary bank account but not at cheap rate. Request that you receive the money into your bank account. In December 2020 the Central Bank of Nigeria introduced a new set of regulations that affected the way money transfers could be paid out in Nigeria meaning that they could no longer be paid out in Naira only in US dollars.
To pick up money in person documentation can include. US Dollar is being traded at 483 in Black Market Lagos today May 13 2021. This corresponds to no movement for Dollar this week.
These are also applicable to other banks in Nigeria. Some of the popular ways are Payoneer PayPal and Skrill. How to receive US dollars in Nigeria.
As a bank transfer to an account at one of over 20 banks in Nigeria to a Mobile Wallet or to one of over 800 cash payout locations in Nigeria. Simply open Nigerian Payza andor Neteller accounts online. It is not better than bank rate but cheaper than black market aboki rate.
US currency cannot be lodged deposited or withdrawn as US cash anymore in Nigeria except its converted to Naira. Consequently anyone hoping to receive money via. This is amazing because the same PayPal for some reason has backlisted Nigerians from receiving funds with PayPal in Nigeria.
You Might Like To Read. In December 2020 the Central Bank of Nigeria introduced a new set of regulations that affected the way money transfers could be paid out in Nigeria meaning that they could no longer be paid out in Naira only in US dollars. Verify each of them.
How to receive money in Nigeria from abroad via Quickteller using Western Union. The most common difficulty encountered by those who use either of the method highlighted above is normally currency exchange issues. Some of the companies that were affected at the time include WorldRemit which had been operating in Nigeria since the beginning of 2011.
In response to the recent announcement by the Central Bank Nigeria CBN that recipients of international remittances can now receive their funds in Dollars or to have funds paid directly into. So basically with this method Ive been able to withdraw my PayPal funds directly to my Nigeria bank account without the help of a third party exchanger. Since PayPal does not allow Nigerians to receive money into their account we are left with only one option and that is domiciliary account.
Heres a screenshot of my recent withdrawal. Once you are done. Choose how the recipient should receive his money in Nigeria.
US Dollar has been traded at 483 when Black Market opened this week on Monday May 10 2021. How To Make Money In Nigeria Buying And Selling Dollars Make Money Online-----. Documents to receive money in Nigeria.
Receive money through Western Union Nigeria via cash pickup at an agent location or get it sent to your bank account directly.