How to send money to Nigeria from Brazil with the best BRL-NGN rate

Comparing providers when sending money from Brazil to Nigeria is the easiest way to make a transfer at the best price.

We’ve compared 4 providers for sending Brazilian Real to Nigeria. This ensures you will get the best options for your transfer to Nigeria from Brazil.

We rate Wise as the best overall, but comparing gives you a comprehensive view of all the options for transferring money from Brazil to Nigeria.

The exchange rate determines the price you will pay when buying Naira.

A better exchange rate means more money being sent to Nigeria.

If you are paying for services in Naira from Brazil, this can make a huge difference.

The current rate between the Brazilian Real and Naira is 263.5677.

We should note, BRL-NGN exchange rate changes almost constantly.

Understanding the averages, and then waiting a day or two can help you get more NGN for the same amount of Brazilian Real.

You can also use a forward contract to lock in an agreed exchange rate between Brazil and Nigeria.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Brazil to Nigeria.

On average a bank transfer to Nigeria is 0.83% cheaper than the second-best option in the market.

Ensuring you fully understand regulations in Brazil and Nigeria will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Brazil and Nigeria.

Some companies offering money transfers between Brazil and Nigeria have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare BRL-NGN rates for your specific transfer amount.

For regular transfers to Nigeria, shopping around each time can make a huge difference.

For sending large amounts of BRL to Nigeria we'd recommend using Wise. They offer a combination of rates and fees when sending from Brazil to Nigeria that is the most competitive, even at larger amounts.

There are different options for receiving Naira in Nigeria.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Brazil to Nigeria will offer every method for incoming Naira, so it’s best to check ahead of time.

Again, a comparison of BRL to NGN providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Brazil into Nigeria is by sending directly to a bank account. Wise is the best company for bank transfers between Brazil and Nigeria.

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

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Nairas to Nigeria, you will need to verify your ID at the sign up stage.

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

ID can be verified in Brazil through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Nigeria, it will be similar.

Large transactions between Brazil and Nigeria, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Nigeria is their easy sign up process in Brazil.

Sending regular, or larger amounts of money between Brazil and Nigeria could mean there are tax declarations to consider.

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

Nigeria has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Brazil or Nigeria to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.