How to send money to Nigeria from New Zealand with the best NZD-NGN rate

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

Our analysis, and search results, include 3 providers that operate between New Zealand and Nigeria. 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 New Zealand when you need to send money to Nigeria.

The exchange rate determines the price you’ll pay for Naira when you send New Zealand Dollar to Nigeria.

The current exchange rate between the New Zealand Dollar and Naira is 774.6832. Wise offers the best exchange.

The NZD-NGN exchange rate is always moving.

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

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

A bank transfer to Nigeria through Xe is 0.31% cheaper than the second-best option in the market.

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

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

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

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 Wise if you need to send large amounts of NZD to Nigeria. The combination of rates and fees when sending to Nigeria 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 New Zealand, or entering Nigeria. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Nigeria. 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 New Zealand to Nigeria 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 New Zealand into Naira. Wise is the best company for bank transfers between New Zealand and Nigeria.

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

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 Xe.

When signing up to a money transfer company to send between New Zealand and Nigeria, 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 New Zealand this will be a government ID like a passport or driver's license. In Nigeria it will be a similar set of documents, although this should only be needed if you are opening a new account in Nigeria, or collecting in cash.

Big transactions between New Zealand and Nigeria, 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 Wise in part due to their easy sign up process in New Zealand.

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

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

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