Question 1

What is the best way to send money from Europe to Nigeria?

Accepted Answer

Today, Instarem delivers the highest amount — ₦16,04,900 for every €1,000 sent, at a rate of 1604.8999 NGN per EUR. Compare every provider's true cost (rate plus fee) above before deciding.

Question 2

What is today's EUR to NGN exchange rate?

Accepted Answer

The mid-market rate right now is approximately 1 EUR = 1613.1200 NGN. This is the rate banks use among themselves — providers add a margin on top, which is why the rate you actually get is lower.

Question 3

How much does it cost to send €1,000 to Nigeria?

Accepted Answer

Costs vary significantly. The best provider (Instarem) gives you ₦16,04,900 after fees. The worst (BNP Paribas) only gives you ₦15,66,980. That's a difference of ₦37,920 on a single €1,000 transfer.

Question 4

How long do transfers take?

Accepted Answer

Speed varies by provider and payment method. Instarem typically completes in same day. Cash pickup networks like MoneyGram, Western Union and Xoom are usually fastest (minutes). Bank wires and ACH transfers can take 1–3 business days.

Question 5

Are there taxes on sending money to Nigeria?

Accepted Answer

In most cases, sending money internationally is not taxable for the sender. However, large transfers (typically over $10,000 USD or equivalent) may require reporting to financial authorities such as FinCEN in the US or HMRC in the UK. The recipient country may have its own rules. Always check with a tax professional for your situation.

Provider	Fee	Rate	Recipient gets	Speed
1 InstaremBest value	Free	1604.90	₦16,04,900	Same day	Send
2 Wise	EUR 7.62	1613.12	₦16,00,828	Within hours	Send
3 Western Union	EUR 1.99	1602.22	₦15,99,032	Minutes	Send
4 BNP Paribas	Free	1566.98	₦15,66,980	1–3 days	Send

Send Money from Europe to Nigeria — Best EUR/NGN Rates

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