Best way to send money from Europe
to Nigeria

The cheapest way to send money from Europe to Nigeria is through an online provider. Among the 8 available, Dahabshiil was most often the cheapest provider in comparisons on SawaFX.com.

If you send money with the cheapest available provider, the transfer fee for a EUR–NGN transfer is 0.0% of the transfer amount (including transfer fee and exchange rate margin).

Across all 8 providers, the average FX markup on this corridor is 0.91%. Transfer fees range from €0.00–€57.53 EUR.

In contrast, the cost of the most expensive option is 0.8%.

Remitly is a popular provider. The average cost of online money transfers from Europe to Nigeria with Remitly is 0.0% of the amount you send, whereas the cheapest online services have an average cost of 0.0%.

Ria is the provider that is most often the cheapest for money transfers to a cash pick-up location in Nigeria.

Over the past 3 months, the provider that was most often the cheapest for cash pick-up transfers in Nigeria was Ria, with an average cost of 0.0% of the amount you send (includes fees + exchange rate margin).

The average total cost to send to a bank account rather than to a pick-up location during the same period was 0.0%. Dahabshiil was the provider most often the cheapest for transfers to bank accounts in Nigeria.

The provider that was most often the fastest in comparisons of the past 30 days was LemFi (average fastest transfer time: Instant).

The EUR/NGN exchange rate is currently rated “volatile” (SCVI score: 13.9) according to SawaFX's rate stability index. A lower SCVI score means provider rates are more consistent : less day-to-day volatility makes it easier to time your transfer.

SawaFX compares 8 providers offering international money transfer services from Europe to Nigeria. The total cost of the cheapest available option was 0.0% of the transferred amount.

In comparison, the total cost of the most expensive provider was on average 0.8%.

The average FX markup on this corridor is 0.91% above the mid-market rate. The spread between the best and worst exchange rate offered is 239.9067 NGN; meaning your recipient can receive significantly less depending on which provider you choose.

The FX markup is often the “hidden” cost: it is built into the exchange rate rather than charged as a separate fee. Always compare the total amount your recipient gets, not just the headline rate.

Yes, the payment method you choose affects how much your recipient receives. On this corridor, paying by Bank transfer leads to the best outcome on average in this snapshot.

• Bank transfer: avg 1,625,414 NGN received(best)
• Debit card: avg 1,583,072 NGN received

Credit card payments typically incur a surcharge. Bank transfer is usually the cheapest pay-in method. Averages above are from the snapshot at page load; for live ranking use the comparison table at the top.

The delivery method can affect your rate. On this corridor, Bank Deposit delivers the best average recipient amount in this snapshot.

• Bank Deposit: avg 1,628,840 NGN(best)
• Mobile Money: avg 1,606,455 NGN
• Cash Pickup: avg 1,556,452 NGN

Averages above are from the same snapshot at page load. For live best provider and amounts, use the comparison table at the top.

Transfer fees on this corridor are typically fixed (€0.00–€57.53 EUR), so the cost as a percentage is lower when you send more. For example, a €5 fee on a €50 transfer is 10%; on a €500 transfer it drops to just 1%. The average FX markup of 0.91% applies to all amounts regardless of size.

Every provider adds a markup on the mid-market (interbank) rate. On this corridor, the average markup is 0.91%. Some providers charge a fixed fee with a tighter exchange rate; others advertise “no fees” but recoup costs through a wider spread. SawaFX compares the total cost (exchange rate margin plus fees), so you always see the real amount your recipient gets.

SawaFX refreshes rates every 15 minutes directly from each provider. The rates shown always include all transfer fees and the FX markup, so the “amount received” you see is what your recipient would actually get, not a misleading headline rate.