Sending money from the United States to Nigeria: the payments stack
Sending USD 200 from the United States to Nigeria cost 2.72% of the amount on average in Q3 2025, across 33 services in the World Bank's Remittance Prices Worldwide survey. Payouts in Nigeria typically run over NIP (NIBSS Instant Payments), CBN RTGS; between now and the end of 2027 there are 10 weekdays when banks in the United States are closed but Nigeria keeps paying out, so the payout balance has to be funded before them.
| Average cost to send | 2.72% of USD 200 (Q3 2025, World Bank RPW) source |
| Money transfer operators | 2.72% across 33 services |
| Collect in United States | FedNow Service, FedNow network limit, RTP network, Fedwire Funds Service, FedACH and Same Day ACH, Same Day ACH limit |
| Pay out in Nigeria | NIP (NIBSS Instant Payments), CBN RTGS |
| Corridor playbook | USD to NGN: funding and prefunding |
What it costs to send USD 200
The World Bank surveyed 33 services sending from the United States to Nigeria from 8 August 2025 to 20 August 2025. The average total cost, fees plus the FX margin, was 2.72% of the amount sent; money transfer operators averaged 2.72%. source
Bank and operator averages are worked out from the survey's provider types.
The send side: the United States
- With few exceptions, each money services business must register with the US Treasury through FinCEN by filing FinCEN Form 107 within 180 days of being established, and must renew the registration every two years; a business that is an MSB only because it acts as agent of another MSB does not register. source
- Money transmission is also licensed state by state. As of September 2026, 31 states have enacted the CSBS Money Transmission Modernization Act in full or in part, and money transmitters licensed in at least one adopting state account for 99% of reported money transmission activity. source
- The Money Transmission Modernization Act sets a minimum tangible net worth of the greater of US$100,000 or 3% of total assets for the first US$100 million, 2% of assets from US$100 million to US$1 billion and 0.5% of assets above US$1 billion, and encourages states to run licensing, surety bonds and reporting through NMLS. source
Licences, sponsor banks, collections, ramps and KYC providers: sending from the United States.
The payout side: Nigeria
| Payout partner | What it does in Nigeria | Source |
|---|---|---|
| Flutterwave · our guide | Transfers API pays out NGN individually or in bulk from a Flutterwave balance to Nigerian bank accounts, and can verify Nigerian bank account details before sending. | source |
| Thunes · our guide | MoMo PSB wallet holders receive international transfers instantly through Thunes' network from markets including the USA, UK, Canada, France, Australia, Saudi Arabia, Israel and South Africa (November 2025). | source |
| TerraPay · our guide | Its network page lists Nigeria among its African receive markets. | source |
| dLocal · our guide | Payouts V3 sends NGN bank transfers for B2C, B2B and P2P flows through Demerge Nigeria Limited, a CBN-licensed Payment Solution Service Provider. | source |
| Fincra | Payout API sends NGN to Nigerian bank accounts, alongside cross-currency payouts and USDT, USDC and cNGN payouts to crypto wallets. | source |
| Onafriq | Its integration with the Yuno platform is live in Nigeria and six other markets, covering disbursements, collections, card issuance and FX treasury services. | source |
| Nairagram | Payout network and API for money transfer operators and payment companies, paying out by bank deposit, mobile wallet and cash pickup across 30+ African countries. | source |
Licensing, local banks, stablecoin ramps, FX and KYC in Nigeria: launching payments in Nigeria.
Payout rails in Nigeria
| Rail | Operator | What matters for payouts | Source |
|---|---|---|---|
| NIP (NIBSS Instant Payments) | Nigeria Inter-Bank Settlement System (NIBSS) | Account-number based real-time interbank transfers, available 24 hours a day, 365 days a year, with funds usable by the recipient immediately. All commercial banks, microfinance banks and mobile money operators participate. | source |
| CBN RTGS | Central Bank of Nigeria | Large-value settlement in four sessions with cut-offs at 09:00, 12:00, 15:00 and 18:00, and access for external users on RTGS and S4 until 18:30 since the April 2023 upgrade. | source |
Holiday gaps to plan for, to December 2027
Weekdays when one side of the corridor is closed. On the 10 dates when the United States is closed and Nigeria is open, the payout balance has to already hold enough to cover them. On the 9 dates when Nigeria is closed, instant rails may still pay out.
| Date | United States | Nigeria | What it means |
|---|---|---|---|
| Wed 11 Nov 2026 | Veterans Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Thu 26 Nov 2026 | Thanksgiving Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Fri 25 Dec 2026 | Christmas Day | Christmas Day | Both closed |
| Mon 28 Dec 2026 | Open | Boxing Day substitute | Nigeria banks closed: only always-on rails pay out |
| Fri 1 Jan 2027 | New Year's Day | New Year's Day | Both closed |
| Mon 18 Jan 2027 | Martin Luther King Jr. Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Mon 15 Feb 2027 | Washington's Birthday (Presidents Day) | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Tue 9 Mar 2027 | Open | Id el Fitr | Nigeria banks closed: only always-on rails pay out |
| Fri 26 Mar 2027 | Open | Good Friday | Nigeria banks closed: only always-on rails pay out |
| Mon 29 Mar 2027 | Open | Easter Monday | Nigeria banks closed: only always-on rails pay out |
| Mon 3 May 2027 | Open | Workers' Day substitute | Nigeria banks closed: only always-on rails pay out |
| Mon 31 May 2027 | Memorial Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Mon 14 Jun 2027 | Open | Democracy Day substitute | Nigeria banks closed: only always-on rails pay out |
| Mon 5 Jul 2027 | Independence Day (observed) | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Mon 6 Sep 2027 | Labor Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Fri 1 Oct 2027 | Open | National Day (Independence Day) | Nigeria banks closed: only always-on rails pay out |
| Mon 11 Oct 2027 | Columbus Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Thu 11 Nov 2027 | Veterans Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Thu 25 Nov 2027 | Thanksgiving Day | Open | Prefund Nigeria the day before: no funding from the United States, payouts continue |
| Mon 27 Dec 2027 | Open | Christmas substitute | Nigeria banks closed: only always-on rails pay out |
| Tue 28 Dec 2027 | Open | Boxing Day substitute | Nigeria banks closed: only always-on rails pay out |
Full calendars: United States and Nigeria. Size the buffer with the corridor runway calculator.
Funding the corridor
- Fedwire does not run on Saturdays, Sundays or Federal Reserve holidays; the Monday business day opens at 9:00 p.m. ET on Sunday and every business day closes at 7:00 p.m. ET, with customer transfers cut off at 6:45 p.m. ET. source
- Federal Reserve holidays in the rest of 2026 are Veterans Day (11 November), Thanksgiving (26 November) and Christmas (Friday 25 December); in 2027, Juneteenth (19 June) and Christmas (25 December) fall on Saturdays, so the Reserve Banks open on the Friday before. source
- IMTOs are barred from buying foreign exchange in Nigeria's domestic market for settlement, and customer funds meant for remittance must sit in a designated account with the agent Authorised Dealer Bank, separate from the operator's other accounts. source
- A CBN circular of 24 March 2026, effective 1 May 2026, requires every IMTO to open designated naira settlement accounts with Authorised Dealer Banks and run all beneficiary payments and settlements through them. The accounts can be credited only with remittance flows and the proceeds of FX conversions with authorised NFEM participants, and IMTOs can hold several such accounts with different banks. source
- Trades with the CBN window settle the same day only when executed and confirmed before 12 noon on a trading date, and participants file daily returns on the sources of funds. source
Running the corridor
Polynopsis shows every balance on both sides of this corridor in one live position: the collection accounts in United States, the payout partners and banks in Nigeria and any stablecoin in between. It warns before the Nigeria balance runs dry, holidays included. See how it works.
Frequently asked questions
How much does it cost to send money from the United States to Nigeria?
The World Bank's survey put the average total cost of sending USD 200 at 2.72% in Q3 2025, across 33 services. Money transfer operators averaged 2.72%.
Which rails pay out in Nigeria?
Local payouts run over NIP (NIBSS Instant Payments), CBN RTGS.
When do I need to prefund Nigeria payouts ahead of holidays?
Between now and December 2027 there are 10 weekdays when the United States is closed and Nigeria is open, the first on Wed 11 Nov 2026. The payout balance has to cover those days before they start.
Related corridors
Sources
- World Bank, Remittance Prices Worldwide dataset · World Bank
- Holiday Schedules (Federal Reserve Banks, 2026 to 2030, plus FedACH holiday processing) · Federal Reserve Financial Services
- Fedwire Funds Service and National Settlement Service Operating Hours · Federal Reserve Financial Services
- Public Holidays Act (Laws of the Federation) · Policy and Legal Advocacy Centre (PLAC)
- Buhari signs June 12 bill into law · ThisDay
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.