How to send money to Canada from Nigeria with the best NGN-CAD rate

Comparing based on your specific needs is the best way to send money from Nigeria to Canada with confidence.

For NGN/CAD

• Africhange is our top pick for sending Naira to Canada. For example, sending 360,000 NGN to CAD will cost you ₦0 in fees, and you will receive 349.51 CAD.

• We would recommend Pesa for low cost, affordable transfers from Canadian Dollars to Canada. We found that Pesa is 0% cheaper than the second-best option. The cost is a combination of a fee of 0 NGN and an exchange rate for converting Naira to Canadian Dollar that is 3.54% different to the mid-market rate.

• Fastest way to send money to Canada from Nigeria is with Africhange. For example, if you send 360,000 NGN with Africhange to Canada, the transfer time is minutes based on our data.

Our analysis, and search results, include 6 providers that operate between Nigeria and Canada. These are ranked by speed, overall cost and ease of use.

Through this, you get a comprehensive view of all the options you have in Nigeria when you need to send money to Canada.

The exchange rate determines the price you’ll pay for Canadian Dollar when you send Naira to Canada.

The current exchange rate between the Naira and Canadian Dollar is 0.001, and it constantly fluctuates.

When calculating the cost of sending money from Nigeria to Canada, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current NGN-CAD mid-market rate is 0.001 CAD per Naira. Finding a provider as close to this number as possible will ensure more Canadian Dollar for your money.

• Fees: Transfer fees are charged on top of a transfer. Pesa currently offers the lowest fees of 0 NGN per transfer (based on ₦360,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Canadian Dollar is the biggest indicator in the total cost of sending money to Nigeria from Canada. The higher the total amount received in Canada, the lower the cost of sending from Nigeria.

It’s possible that waiting a day or two can help you get more CAD for the same amount of Naira. But, the best way to lock in a price between Nigeria and Canada is by using a forward contract.

A bank transfer is our recommended option for money transfers between Nigeria and Canada. Pesa offers the best price on a bank transfer.

Here are all the ways to send money from Nigeria to Canada:

Bank transfers

Bank transfers are often the best payment method for money transfers from Nigeria to Canada.

A money transfer company like Pesa offer bank transfers between Nigeria and Canada with lower fees and better exchange rates than you would get from a traditional bank.

On average, Pesa is the cheapest provider for bank transfers of the 6 we tested when sending NGN to Canada.

Debit and prepaid cards

Sending money from Nigeria to Canada with a debit or a prepaid card is very simple with MoneyGram Agent.


MoneyGram Agent is a leader in debit card payments for transfers from Nigeria to Canada, competing among a total of 6 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both Nigeria and Canada to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Nigeria and Canada.

Some services have minimum or maximum thresholds on how much you can transfer from Nigeria to Canada.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Africhange if you need to send large amounts of NGN to Canada. The combination of rates and fees when sending to Canada is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Nigeria, or entering Canada. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Canada. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Nigeria to Canada will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Nigeria into Canadian Dollar. Africhange is the best company for bank transfers between Nigeria and Canada.

And if you need cash right away, check if cash pickup is an option for transfers between Nigeria and Canada.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Pesa.

When signing up to a money transfer company to send between Nigeria and Canada, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Nigeria this will be a government ID like a passport or driver's license. In Canada it will be a similar set of documents, although this should only be needed if you are opening a new account in Canada, or collecting in cash.

Big transactions between Nigeria and Canada, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Africhange in part due to their easy sign up process in Nigeria.

When sending large amounts of money between Nigeria and Canada there will be tax implications to consider.

Some transfers into Canadian Dollar may need to be reported to tax authorities in Canada, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in Canada based on age, income and a few other elements. When in doubt, please contact a tax professional in Nigeria or Canada to discuss your personal circumstances.