How to Send Money Abroad from Nigeria Legally

In 2026, more Nigerians than ever are sending money abroad — for tuition payments, business transactions, family support, or freelance earnings. As the global economy grows more digital, cross-border payments have become part of everyday life for students, entrepreneurs, and professionals alike. Yet, transferring money legally from Nigeria can still be a confusing and frustrating process.

Because of foreign exchange restrictions and fluctuating naira rates, many people are tempted to use black-market or crypto-based routes to send funds overseas. While these methods may appear faster or cheaper, they often violate Central Bank of Nigeria (CBN) regulations and expose users to risks such as scams, frozen accounts, or even prosecution.

The CBN has tightened oversight on international transfers to prevent money laundering and protect the financial system — meaning only approved channels are allowed for legal cross-border transactions.

The good news is that there are now legitimate, CBN-approved ways to send money abroad from Nigeria in 2026. Whether you’re paying school fees, importing goods, or supporting loved ones, you can transfer money safely and efficiently without breaking the law.

In this post, we’ll walk you through all the legal and reliable options — from commercial banks to trusted fintech platforms — so you can send money abroad with confidence and full compliance in 2026.

Why Legality Matters

When it comes to sending money abroad from Nigeria in 2026, legality is not optional — it’s essential. The Central Bank of Nigeria (CBN) strictly regulates all foreign exchange transactions to maintain economic stability, prevent money laundering, and ensure that every cross-border payment is transparent.

This means that only CBN-approved channels — such as licensed banks, authorized international money transfer operators (IMTOs), and verified fintech platforms — are permitted to handle international transfers.

Using unapproved routes, such as black-market agents or crypto P2P transactions, may seem convenient, but it can lead to serious consequences. The CBN continues to clamp down on illegal forex dealings, and individuals caught using unauthorized methods risk losing their funds, facing account restrictions, or being investigated for financial crimes. In some cases, both senders and receivers could face legal penalties or sanctions from financial regulators.

Transparency and compliance are especially important for large transfers — such as tuition payments, business imports, or international investments. Legal channels provide proper documentation, including receipts and Form A or Form M submissions, which help verify the legitimacy of your transaction.

By following CBN-approved methods, you not only stay compliant with Nigerian law but also ensure your money reaches its destination securely and without complications. Legality builds trust, protects your funds, and keeps your financial record clean — all of which are crucial in today’s regulated global economy.

Legal Ways to Send Money Abroad from Nigeria 

If you want to send money abroad legally from Nigeria in 2026, you must use CBN-approved methods. These routes ensure your transfers comply with Nigerian financial laws while keeping your funds secure and traceable. Below are the main legal and trusted options available to individuals and businesses.

A. Through Commercial Banks (CBN-Approved)

Commercial banks remain one of the most reliable ways to send money abroad legally. Major Nigerian banks such as GTBank, Zenith Bank, UBA, and First Bank are licensed by the Central Bank of Nigeria to handle foreign exchange transactions.

How It Works

For school fees or medical payments, you can apply using Form A, while Form M is used for business-related payments like imports or professional services. These forms are submitted through your bank, either online or at a branch, and are processed under the CBN’s official exchange rate.

Documents Required

To complete your transfer, you’ll need:

• A valid Bank Verification Number (BVN)

• Admission letter or invoice (for tuition or services)

• Means of identification (international passport, driver’s license, or NIN)

• Proof of payment or beneficiary details

While bank transfers can take a few days to process, they’re fully compliant and ideal for larger, regulated transactions.

B. Through Licensed Fintech Platforms

In 2026, several fintech platforms make sending money abroad faster and more convenient — all while staying within CBN regulations. Platforms like Grey.co, Payoneer, Wise (formerly TransferWise), Eversend, and Send by Flutterwave offer digital solutions for freelancers, remote workers, and small businesses.

Why They’re Legal

These platforms partner with licensed financial institutions and international money transfer operators (IMTOs), ensuring every transaction passes through approved banking channels. They comply with CBN’s anti-money laundering (AML) and know-your-customer (KYC) rules.

Fintech transfers are ideal for:

• Freelancers receiving or sending payments

• Businesses paying for international services

• Individuals sending personal remittances

They’re generally faster and cheaper than traditional banks while maintaining full legal compliance.

C. Using International Money Transfer Operators (IMTOs)

International Money Transfer Operators (IMTOs) such as Western Union, MoneyGram, and WorldRemit remain trusted global brands for legal cross-border transfers.

How They Work

You can send money abroad through these services by visiting authorized bank branches or using their official apps and websites. The funds are delivered directly to the recipient’s account or available for cash pickup, depending on the country.

Benefits and Limits

• Fast delivery: Transfers are often completed within minutes or hours.

• Legal and secure: All IMTOs operate under CBN approval.

• Transfer limits: Each platform has its daily or monthly limit depending on CBN’s foreign exchange policy.

These services are best for personal remittances, family support, or emergency transfers, providing a simple, legal, and accessible way to send money abroad.

Common Mistakes to Avoid When Sending Money Abroad from Nigeria (2026)

Even though there are several legal and convenient ways to send money abroad from Nigeria in 2026, many people still make avoidable mistakes that can put their funds and reputation at risk. Understanding these common errors will help you stay compliant and ensure your transfers are smooth and stress-free.

1. Using Crypto P2P for Business or International Payments

While cryptocurrency peer-to-peer (P2P) platforms are popular in Nigeria, the CBN does not recognize crypto-based transfers as legal tender for international payments.

Using Bitcoin, USDT, or other digital assets to pay for goods, tuition, or services abroad may violate financial regulations. It can also expose you to scams, blocked accounts, or irreversible losses. Always use CBN-approved banks or fintech platforms instead.

2. Sending Money via Unlicensed Agents

Many unregistered agents and social media vendors claim to offer “fast” dollar transfers or foreign payments. However, these channels are not authorized by the Central Bank of Nigeria. Transactions through such sources are risky and may be flagged for money laundering or illegal forex trading, leading to frozen funds or penalties.

3. Ignoring Documentation and Forex Limits

Every legitimate transfer requires proper documentation — such as a valid BVN, Form A or M, and proof of payment. Ignoring these requirements can delay or block your transfer. Additionally, always respect CBN’s foreign exchange limits, especially for school fees, business imports, or travel allowances, to avoid regulatory violations.

Avoiding these mistakes keeps your transactions legal, secure, and fully traceable — ensuring peace of mind every time you send money abroad from Nigeria.

Tips to Get the Best Exchange Rates When Sending Money Abroad from Nigeria (2026)

Getting the best exchange rate can make a big difference when sending money abroad from Nigeria in 2026. With fluctuating naira values and frequent changes in foreign exchange policies, a small difference in rates can save you thousands of naira per transaction. Here are a few smart tips to help you maximize value while staying fully compliant with CBN rules.

1. Compare Rates from Banks and Fintech Platforms

Before making any transfer, always compare exchange rates across commercial banks and licensed fintech platforms. While banks often use the official CBN rate, fintechs like Grey, Wise, and Send by Flutterwave may offer slightly better rates within legal limits. Checking multiple platforms ensures you choose the most cost-effective option for your specific currency and destination.

2. Send Money on Weekdays

Foreign exchange markets are most active on weekdays, meaning rates are more stable and transfers are processed faster. Avoid making transfers during weekends or public holidays, when rates can fluctuate or transactions may be delayed.

3. Use Official CBN Rates or Approved FX Platforms

Always rely on official CBN rates or verified forex platforms for your transactions. Avoid black-market dealers or P2P crypto conversions, as these are not recognized by Nigerian law. Using approved platforms ensures your transfer remains legal, traceable, and protected against fraud.

By following these tips, you’ll not only save money but also ensure every international transfer you make from Nigeria is legal, secure, and cost-efficient in 2026.

Conclusion

Sending money abroad from Nigeria in 2026 doesn’t have to be complicated or risky. With several CBN-approved options now available, you can transfer funds safely, quickly, and confidently — whether you’re paying tuition, supporting family, or handling business transactions.

The safest and fastest legal methods include using commercial banks through Form A or Form M for education and business payments, licensed fintech platforms like Grey, Wise, and Send by Flutterwave for personal and professional transfers, and International Money Transfer Operators (IMTOs) such as Western Union, MoneyGram, and WorldRemit for instant remittances. Each of these channels operates within CBN regulations, providing secure, traceable, and transparent transactions.

As foreign exchange policies continue to evolve, it’s crucial to stay compliant with CBN rules and avoid shortcuts such as black-market dealings or unlicensed agents. Following the right process not only protects your money but also keeps you on the right side of the law.

Frequently Asked Questions

Can I send money from Nigeria to other countries?

Yes, you can send money from Nigeria to other countries legally and safely, provided you use Central Bank of Nigeria (CBN)-approved methods. In 2026, Nigerians have multiple regulated options for international transfers, including commercial banks, licensed fintech platforms, and International Money Transfer Operators (IMTOs) such as Western Union and MoneyGram. These channels ensure that your transaction complies with foreign exchange regulations and anti-money laundering laws.

The CBN requires that every international transaction goes through authorized dealers, mainly Nigerian banks and registered financial service providers.

If you are sending money for tuition, business payments, medical expenses, or personal remittances, you can use Form A or Form M, depending on the purpose of the transfer. Form A is for educational or medical-related payments, while Form M is for business or import-related transactions.

To initiate a transfer, you will need essential documents such as your Bank Verification Number (BVN), a means of identification, and proof of the transaction — for instance, an invoice or admission letter. Commercial banks process these payments through official channels using the approved CBN exchange rate, making the process transparent and traceable.

Fintech companies like Grey.co, Wise, Payoneer, and Send by Flutterwave also offer legal international transfer services by partnering with global financial networks. These platforms are faster, digital, and often have lower transaction fees than banks while maintaining full compliance with CBN regulations.

The key point is to avoid black-market or crypto-based transactions, as they are not recognized by Nigerian law and can lead to legal penalties. When you use approved systems, you not only stay within the law but also protect your money and ensure your funds reach the correct destination securely.

Therefore, yes — you can send money from Nigeria to other countries, but it must be done through legally approved and transparent channels that meet CBN’s requirements.

Can OPay send money internationally?

As of 2026, OPay does not directly support international money transfers from Nigeria to other countries. The OPay platform is primarily designed for local transactions, such as sending and receiving funds within Nigeria, paying bills, and making online or in-store purchases.

While it offers convenience for domestic users, it is not licensed by the Central Bank of Nigeria to process international remittances.

The CBN regulates all foreign exchange and cross-border transfers to ensure compliance with financial transparency and anti-money laundering standards. Only licensed financial institutions, fintech companies, and International Money Transfer Operators (IMTOs) are permitted to process international transactions.

OPay currently operates under a Payment Service Bank (PSB) license, which limits its services to local financial activities and excludes cross-border transfers.

However, OPay users who need to send money abroad can still do so legally by using other approved fintech platforms that specialize in foreign transfers, such as Grey.co, Wise, Payoneer, or Send by Flutterwave. These services enable users to hold and transfer funds in multiple currencies and make payments directly to foreign accounts.

In the future, OPay may expand its services to include global transactions if it partners with an international payment network or obtains additional regulatory approval from the CBN. Until then, Nigerian users must use CBN-licensed platforms for all foreign transfers.

So, while OPay is an excellent app for local convenience, it cannot send money abroad at the moment. If your goal is to make international transfers, you will need to use a CBN-approved platform or bank that supports cross-border payments and foreign currency transactions.

Can someone send money from Nigeria to the USA?

Yes, someone can legally send money from Nigeria to the USA through CBN-approved channels. There are several legitimate ways to transfer funds to American bank accounts or recipients, provided that you comply with Nigeria’s foreign exchange regulations.

The most common route is through commercial banks such as GTBank, Zenith Bank, UBA, or First Bank. These institutions facilitate international transfers using Form A or Form M, depending on the purpose of the transaction.

For tuition or medical payments, you’ll use Form A; for business or service-related payments, Form M is required. You’ll also need to provide documentation such as your BVN, a valid ID, and proof of the transaction’s purpose.

Another option is to use licensed fintech platforms like Wise (formerly TransferWise), Payoneer, Grey, or Send by Flutterwave. These companies are connected to international banking networks, allowing users to send money to the USA easily. They comply with CBN and international financial laws, making them both safe and legal.

Additionally, International Money Transfer Operators (IMTOs) such as Western Union, MoneyGram, and WorldRemit enable Nigerians to send money directly to recipients in the USA. Transfers can be made through bank branches, agent locations, or mobile apps, and recipients can collect funds either in cash or directly in their U.S. bank account.

It’s important to avoid using black-market agents or cryptocurrency for this purpose, as those channels are not approved and could result in frozen funds or legal issues. The CBN encourages Nigerians to use official methods to maintain transparency and ensure the stability of the naira.

In short, yes — you can send money from Nigeria to the USA legally by using authorized banks, licensed fintech platforms, or CBN-approved money transfer operators.

Can I transfer Naira to a foreign bank account?

You cannot transfer Naira directly to a foreign bank account, as international transactions require conversion to a foreign currency such as USD, GBP, EUR, or CAD. The Central Bank of Nigeria (CBN) mandates that all international transfers be made in foreign currency through authorized dealers or financial institutions.

When you initiate an international transfer through your bank or a licensed fintech, your Naira is converted at the official exchange rate before being sent abroad. The process ensures compliance with CBN’s foreign exchange policies and prevents the use of unapproved black-market channels.

For example, if you need to send funds for tuition or medical expenses, your bank will process your request using Form A. The bank debits your Naira account, converts it to the destination currency, and sends it to the beneficiary’s foreign account. Similarly, for business payments or imports, Form M is used to document and approve the transfer.

Fintech services like Grey.co, Wise, and Payoneer simplify this process by offering digital currency exchange and international transfers within regulatory limits. These platforms allow users to fund their accounts in Naira, convert it to a foreign currency, and transfer it to a recipient abroad, all within CBN guidelines.

It’s illegal to send Naira directly to a foreign account using unlicensed operators, crypto, or P2P channels. Such methods violate CBN policies and carry serious risks, including fund loss and possible sanctions.

Therefore, while you can’t transfer Naira directly, you can easily and legally send its equivalent in foreign currency through CBN-approved channels. This ensures compliance, security, and peace of mind for every cross-border transaction.

What is the best app to send money abroad from Nigeria?

The best app to send money abroad from Nigeria in 2026 depends on your needs — speed, cost, convenience, or destination. However, the most reliable and legal options are those that operate under CBN approval and comply with global financial regulations.

1. Wise (TransferWise): Known for its transparency and low fees, Wise allows you to send money directly to bank accounts in over 80 countries. It uses real-time exchange rates and provides full transaction tracking.

2. Grey.co: A Nigerian-based fintech designed for freelancers, remote workers, and businesses. Grey offers multi-currency wallets, allowing users to send and receive money in USD, GBP, and EUR legally.

3. Send by Flutterwave: This platform enables users to send money abroad to several countries quickly and securely. It’s built on Flutterwave’s global payments infrastructure, which is fully licensed and CBN-compliant.

4. Payoneer: Best for freelancers and online businesses, Payoneer provides virtual accounts in multiple currencies and supports payments to over 200 countries. It’s ideal for international transactions and business-related transfers.

5. Eversend: This digital wallet supports cross-border transfers and currency exchange across several African and international corridors. It complies with financial regulations, making it safe for Nigerian users.

Each of these apps is fast, reliable, and easy to use, with full adherence to CBN and international financial standards. The key is to choose one that aligns with your purpose — business, education, or personal remittance. Avoid unlicensed apps or crypto-based platforms, as they are not approved for legal foreign transfers.

In conclusion, the best apps to send money abroad from Nigeria in 2026 are those that combine affordability, compliance, and convenience — with Grey, Wise, and Flutterwave Send leading the way for secure, legal international transfers.

Is it legal to send money to another country?

Yes, it is completely legal to send money from Nigeria to another country — as long as you do so through approved and regulated channels. The Central Bank of Nigeria (CBN) oversees all foreign exchange transactions to ensure transparency, compliance, and protection against money laundering or fraud. When you use CBN-approved banks, fintech platforms, or international money transfer operators (IMTOs), your transfer is fully legal and traceable.

The CBN’s primary goal is to maintain control of Nigeria’s foreign exchange system. This helps stabilize the naira, regulate capital outflow, and prevent illegal currency trading. As a result, any cross-border transfer must go through institutions licensed under CBN guidelines.

These include commercial banks such as GTBank, Zenith Bank, First Bank, and UBA, as well as authorized digital platforms like Grey.co, Wise, Payoneer, and Flutterwave Send.

Sending money abroad for legitimate reasons — such as education, family support, business, or medical payments — is perfectly legal. However, the CBN requires proper documentation before approving any foreign transaction.

For example, tuition payments require Form A, while business or import-related transfers require Form M. You’ll also need a Bank Verification Number (BVN), a valid means of identification, and proof of your transaction’s purpose.

It becomes illegal only when people attempt to bypass these rules. Using black-market agents, unlicensed money changers, or cryptocurrency-based peer-to-peer (P2P) transfers for international transactions is against the law.

Such methods violate Nigeria’s financial regulations and can lead to severe consequences — including frozen bank accounts, loss of funds, or even legal prosecution.

In summary, sending money abroad is legal when done through recognized financial systems that comply with CBN and international standards. The process may seem strict, but it ensures security, traceability, and protection for both the sender and recipient. Always choose official and transparent methods to keep your international transfers safe, legal, and problem-free.

Which app lets you send money internationally?

In 2026, several trusted apps allow Nigerians to send money internationally in a legal, fast, and affordable way. The best apps are those recognized by the Central Bank of Nigeria (CBN) and connected to licensed international payment networks. These apps simplify global money transfers while ensuring compliance with all foreign exchange and anti-money laundering regulations.

One of the most popular apps is Wise (formerly TransferWise). Wise offers global transfers to over 80 countries with real-time exchange rates and low transaction fees. It allows users to send money directly to bank accounts abroad without hidden costs. Wise is ideal for freelancers, students, and families who need secure cross-border transactions.

Another excellent option is Grey.co, a Nigerian fintech platform tailored for individuals and businesses with international financial needs. Grey provides users with multi-currency accounts in USD, GBP, and EUR, allowing them to send and receive money legally. Transfers are completed digitally within minutes, making Grey one of the fastest and most compliant options available.

Send by Flutterwave is another CBN-approved platform that enables users to send money to various countries. Built on Flutterwave’s trusted payment infrastructure, this app is designed for reliability and speed. It supports transfers for personal and business purposes, making it suitable for Nigerians living or working abroad.

Other recognized apps include Payoneer and Eversend, both offering international money transfers and virtual accounts in multiple currencies. Payoneer is particularly useful for freelancers and businesses dealing with clients abroad, while Eversend supports easy wallet-to-wallet transfers across countries.

The key to using any international transfer app legally is ensuring it’s licensed and CBN-approved. Avoid apps that promise unofficial dollar rates or crypto-based exchanges. These may look attractive but can expose you to fraud and regulatory violations.

To conclude, the top apps for international money transfers in Nigeria are Wise, Grey.co, Flutterwave Send, Payoneer, and Eversend. They are reliable, fast, and compliant with all financial regulations — helping you send money abroad legally and efficiently in 2026.

Is OPay recognized outside Nigeria?

As of 2026, OPay is not officially recognized as a global money transfer service outside Nigeria, although it remains one of the country’s leading digital payment platforms for local transactions.

OPay operates primarily within Nigeria’s financial ecosystem, allowing users to send and receive money domestically, pay bills, buy airtime, and make in-store or online payments.

The company is licensed by the Central Bank of Nigeria (CBN) as a Payment Service Bank (PSB), which limits its operations to domestic financial services. This means OPay can legally handle naira-based payments within Nigeria but is not authorized to process or facilitate foreign exchange transactions or cross-border money transfers.

Outside Nigeria, OPay’s recognition is limited. While it has received attention for its innovative digital payment solutions, it does not have international partnerships that allow users to send or receive money globally. It’s not connected to global money transfer systems like SWIFT, nor does it offer accounts in foreign currencies such as USD or GBP.

However, OPay’s growing success in Nigeria could lead to international expansion in the future. If the company obtains the necessary regulatory approvals or partners with global financial institutions, it might eventually support cross-border transactions. Until that happens, its services remain domestic.

For Nigerians who need to send money abroad, it’s advisable to use CBN-approved international platforms such as Grey.co, Wise, Payoneer, or Flutterwave Send, which are fully licensed for global payments.

In short, OPay is not recognized outside Nigeria as an international transfer service. It’s a powerful tool for local financial transactions but not for sending or receiving money abroad. To handle international transfers legally, users must rely on officially licensed fintechs or banks that meet global compliance standards.

Which bank does international transfers in Nigeria?

Many Nigerian banks are authorized by the Central Bank of Nigeria (CBN) to handle international transfers. These banks provide secure, legal, and traceable means for sending money abroad, whether for tuition, medical payments, business, or personal remittances.

Some of the top banks offering international transfer services include GTBank, Zenith Bank, First Bank, UBA, Access Bank, and Fidelity Bank. Each of these institutions is licensed to process foreign exchange transactions through CBN-approved systems.

To send money abroad, you must complete the required documentation. For education or medical purposes, you’ll use Form A, which allows you to pay tuition or hospital bills in foreign currency.

For business or import-related transactions, you’ll use Form M, supported by invoices or pro forma documents. The bank then processes your request and sends the funds abroad using official exchange rates.

Most banks offer several options for international transfers:

• SWIFT transfers: These are direct bank-to-bank payments that allow you to send money to over 100 countries.

• Telegraphic transfers (TT): Used mainly for business transactions.

• Partnership transfers: Some banks partner with money transfer services like Western Union or MoneyGram to make sending money easier.

These transfers are safe and fully traceable, ensuring compliance with financial laws. However, they can take a few days to process, depending on documentation and foreign exchange availability.

In addition to traditional banks, some banks also support digital platforms or apps that simplify transfers. For instance, GTBank’s GAPS and Zenith Bank’s ZMobile app allow users to initiate cross-border payments conveniently.

Overall, any commercial bank licensed by the CBN can legally process international transfers. The key is to ensure that your transaction follows official procedures and that you provide all necessary documents.

Using these regulated banks ensures your funds are safe, your transfers are transparent, and your payments remain fully compliant with Nigerian and international financial laws.

How do I transfer money to someone internationally?

To transfer money to someone internationally from Nigeria in 2026, you must follow the legal process set by the Central Bank of Nigeria (CBN). The key steps involve using an authorized channel, providing valid documentation, and complying with foreign exchange regulations.

Start by choosing the right transfer method. You can use a commercial bank, a licensed fintech app, or an International Money Transfer Operator (IMTO) such as Western Union, MoneyGram, or WorldRemit. Each of these platforms operates within the legal framework approved by the CBN.

If you use a bank, you’ll need to fill out Form A for educational or personal payments or Form M for business-related transactions. These forms document your reason for the transfer and help the bank process your foreign exchange request.

You’ll also need to submit your Bank Verification Number (BVN), a valid means of identification, and proof of the transaction’s purpose, such as an invoice, admission letter, or medical bill.

For fintech options, platforms like Grey.co, Wise, Payoneer, and Flutterwave Send allow you to complete the process online. You fund your account in Naira, convert it to a foreign currency, and send it to your recipient’s international bank account or wallet. These services use secure, regulated networks and typically offer better exchange rates and faster processing times than traditional banks.

Avoid using unlicensed agents, crypto-based transfers, or black-market routes, as these methods are illegal and risky. They can lead to frozen accounts or loss of funds.

In short, to transfer money internationally from Nigeria, always use a CBN-approved channel, ensure you provide accurate documentation, and confirm the legitimacy of the receiving institution. This approach guarantees your transaction is legal, traceable, and completed without unnecessary delays or complications.

Which Nigerian bank has a branch in the USA?

Several Nigerian banks have established a strong international presence, but very few have direct operational branches in the United States. Instead, most operate through correspondent banking relationships or subsidiary offices that handle foreign transactions and diaspora banking.

These arrangements allow Nigerians living in the U.S. to connect with their home banks while ensuring full compliance with American banking and anti-money laundering laws.

One of the most notable examples is First Bank of Nigeria, which operates a full-fledged subsidiary called FBNBank UK Limited in the United Kingdom and has representative offices in major global cities like Beijing, Johannesburg, and Abu Dhabi.

While it does not have a direct branch in the U.S., it maintains correspondent relationships with several American banks to process dollar transactions. This network enables First Bank customers to send or receive money from the U.S. smoothly through SWIFT transfers.

Guaranty Trust Bank (GTBank) also maintains global reach with offices in London and other parts of Africa. Although GTBank does not have a physical branch in the U.S., it collaborates with reputable American banks such as Citibank and JPMorgan Chase to facilitate foreign currency payments. These partnerships make it possible for customers to perform international wire transfers or receive funds in U.S. dollars from American senders.

Similarly, Access Bank and Zenith Bank operate internationally recognized subsidiaries, including Access Bank UK and Zenith Bank UK, both of which connect directly to the U.S. through correspondent partnerships. These arrangements ensure customers can complete cross-border transfers, business payments, or remittances with minimal delay.

Nigerian banks use these networks to comply with the Central Bank of Nigeria (CBN) regulations and the U.S. Financial Crimes Enforcement Network (FinCEN) requirements. This ensures that all transactions are legal, traceable, and compliant with global financial standards.

In essence, while no Nigerian bank has a direct, retail-level branch in the United States, the major banks — First Bank, GTBank, Zenith, UBA, and Access Bank — maintain strategic partnerships with U.S. financial institutions.

These alliances make it easy for Nigerians to send and receive money between the two countries legally and efficiently. If you need to transact with someone in the U.S., you can safely do so through any of these banks’ SWIFT or correspondent transfer channels, ensuring your payment is compliant, secure, and properly documented.

Can I transfer money from Nigeria to the UK?

Yes, you can legally transfer money from Nigeria to the United Kingdom (UK) using Central Bank of Nigeria (CBN)-approved channels such as commercial banks, licensed fintech platforms, or international money transfer operators. The process is entirely legal as long as you follow the official procedures and provide the necessary documentation for the transaction.

The most common way to send money to the UK is through commercial banks like GTBank, First Bank, Access Bank, Zenith Bank, and UBA. These banks are licensed to process foreign exchange transactions under CBN supervision. For personal or educational purposes, you’ll need to fill out Form A, while for business or import payments, you’ll use Form M.

Along with this, you must submit documents such as your Bank Verification Number (BVN), valid ID, and proof of the transaction’s purpose (for example, an admission letter, invoice, or service agreement).

Once approved, your bank will convert your Naira to British Pounds (GBP) using the official exchange rate and send it via the SWIFT network to the recipient’s UK bank account. This process ensures transparency and compliance with both Nigerian and international financial laws.

If you prefer faster digital options, several licensed fintech platforms also support legal money transfers to the UK. Services like Grey.co, Wise (formerly TransferWise), Payoneer, and Flutterwave Send allow you to send money digitally without visiting a bank. These platforms are compliant with CBN regulations and often offer more competitive exchange rates than traditional banks.

International Money Transfer Operators (IMTOs) such as Western Union, MoneyGram, and WorldRemit also provide a simple and reliable means of sending money to the UK. You can use these services through Nigerian banks or approved fintech partners.

It’s crucial to avoid unlicensed agents, crypto peer-to-peer (P2P) transfers, or informal exchange channels. These methods violate CBN regulations and can result in frozen accounts or legal action.

In summary, transferring money from Nigeria to the UK is straightforward and completely legal when done through CBN-approved institutions. Whether you use a bank, fintech app, or IMTO, the key is to ensure your transaction follows proper documentation and exchange procedures.

Legal routes not only protect your funds but also guarantee that your transfers are secure, traceable, and compliant with all financial laws. This is the safest and most reliable way to move your money internationally.

How to send money from Nigeria to another country?

Sending money from Nigeria to another country can be done legally and smoothly through several Central Bank of Nigeria (CBN)-approved methods. These include commercial banks, licensed fintech platforms, and International Money Transfer Operators (IMTOs).

The key is to follow proper documentation procedures, use only authorized channels, and avoid black-market or crypto routes that are not recognized by Nigerian law.

The most common method is via commercial banks like GTBank, Zenith, Access Bank, First Bank, or UBA. These banks have direct connections to foreign banks through the SWIFT network.

To start, visit your bank and fill out Form A (for tuition, medical, or personal expenses) or Form M (for business or import-related transactions). You will need your Bank Verification Number (BVN), means of identification, and supporting documents such as an invoice or admission letter. Once approved, the bank converts your Naira into foreign currency using the official CBN rate and transfers it abroad.

Alternatively, licensed fintech platforms such as Grey.co, Wise, Send by Flutterwave, and Payoneer provide digital solutions for cross-border transfers. These services are faster, often cheaper, and can be accessed from your smartphone. They are fully compliant with CBN and international financial laws, offering users secure international payments in multiple currencies.

For smaller or more personal transactions, International Money Transfer Operators like Western Union, MoneyGram, and WorldRemit are also excellent options. You can visit their local agents, initiate the transfer online, and the recipient can receive funds directly in their bank account or as a cash pickup in their country.

The important rule is to avoid unlicensed operators or crypto P2P transfers. Though they may seem convenient, they are risky and can lead to frozen funds or legal penalties. Always use platforms approved by the CBN to ensure your transactions are safe and compliant.

In summary, to send money from Nigeria to another country, you can choose between banks, regulated fintech platforms, or recognized IMTOs. Each method is legal, reliable, and designed to help you move funds abroad with transparency and peace of mind.

Is Remitly better than Western Union?

Both Remitly and Western Union are trusted names in global money transfers, but the better choice depends on what you value most — speed, cost, or accessibility. Each platform has distinct advantages and serves different types of users.

Western Union is one of the oldest and most recognized international money transfer companies in the world. It operates in over 200 countries, including Nigeria, with a massive network of physical agent locations and bank partnerships.

Western Union is ideal for people who prefer cash pickup options or who need to send money to recipients who may not have a bank account. It also supports direct transfers to bank accounts and mobile wallets in several countries. However, its fees are often higher than fintech platforms, and its exchange rates may not always be the most competitive.

Remitly, on the other hand, is a digital-first platform that focuses on affordable and fast international transfers. It offers lower fees, especially for bank-to-bank or wallet-based transfers, and provides real-time delivery updates.

While Remitly doesn’t have as many physical locations as Western Union, it’s extremely convenient for Nigerians sending money to countries like the U.S., U.K., or Canada through partner banks and fintech integrations.

When it comes to user experience, Remitly’s app is more streamlined, allowing users to track transactions instantly and manage multiple recipients easily. Western Union, however, remains the better option if you want global coverage, physical agents, or the ability to send cash in person.

For Nigerians in 2026, Remitly is often more cost-effective for frequent digital users, while Western Union is still preferred for broader reach and flexibility. Both are legal and CBN-compliant when accessed through official banking partners.

Ultimately, if you prioritize lower fees and speed, Remitly might be better. But if you need extensive coverage and multiple payout options, Western Union remains unmatched.

Can Kuda send money abroad?

As of 2026, Kuda Bank does not directly send money abroad, but it continues to evolve toward global integration. Kuda is primarily a digital microfinance bank licensed by the Central Bank of Nigeria (CBN) to handle local Naira transactions. Its services focus on helping users save, spend, and manage money within Nigeria efficiently.

Currently, Kuda’s license limits it to domestic operations, meaning you can send and receive funds only within Nigeria. It supports transfers to other Nigerian banks, bill payments, and debit card transactions. However, it does not process cross-border payments or international wire transfers.

That said, Kuda has hinted at future expansion plans to partner with licensed international fintechs that comply with CBN and global anti-money laundering (AML) laws. These collaborations could eventually allow users to send money to and from Nigeria using Kuda’s platform legally.

If you need to send money abroad now, you’ll have to use alternative CBN-approved platforms such as Grey.co, Wise, Flutterwave Send, or Payoneer. These services specialize in international transfers and allow Nigerians to fund their accounts in Naira before converting to USD, GBP, or EUR.

It’s important to note that any app claiming to send money abroad through unofficial routes, such as crypto or unlicensed exchanges, is not legal under Nigerian law. Using such methods can result in frozen accounts or legal consequences.

In short, Kuda is an excellent app for local financial management, but it cannot currently send money abroad. For international transactions, Nigerians must rely on CBN-approved fintechs or banks that offer foreign exchange services.

What is the cheapest way to send money from Nigeria to the USA?

The cheapest way to send money from Nigeria to the USA depends on the amount, urgency, and method of transfer. However, the most affordable and legal options are licensed fintech platforms that provide transparent exchange rates and low transaction fees.

Platforms like Wise (TransferWise), Grey.co, and Send by Flutterwave are currently among the best options. They use mid-market exchange rates, meaning there are no hidden markups, and their fees are clearly displayed before you send. These platforms also complete most transfers within minutes to a few hours, depending on the destination bank.

Wise is particularly known for its low-cost international transfers. It allows you to fund transactions with Naira (via bank transfer or card), convert it to USD using official CBN rates, and send it directly to a recipient’s U.S. bank account.

Grey works similarly, offering virtual foreign accounts in USD and GBP, making it ideal for freelancers and remote workers who deal with international clients.

Using commercial banks is reliable but can be more expensive. Banks like GTBank, UBA, and Zenith charge higher processing fees and use official CBN exchange rates, which might not always be favorable. They also require more documentation and longer processing times.

Avoid black-market transfers or crypto-based transactions, as these are illegal under CBN law. They may seem cheaper initially but carry significant risks, including fund seizure or account restrictions.

To get the cheapest legal transfer, compare rates across multiple platforms before initiating a transaction. Most fintech apps have built-in calculators to show how much the recipient will get in USD. By combining legal compliance, low fees, and fair exchange rates, platforms like Wise, Grey, and Flutterwave Send remain the most cost-effective ways to send money from Nigeria to the USA in 2026.

How to send money internationally through WhatsApp?

While WhatsApp itself is not a bank or fintech service, it now offers integrated payment options in several countries through its WhatsApp Pay feature. However, as of 2026, this service is not yet available for international money transfers from Nigeria. That said, you can still send money internationally through WhatsApp-integrated fintech apps that support payment links or APIs.

In countries where WhatsApp Pay is active — such as India, Brazil, and some parts of Europe — users can connect their bank accounts or digital wallets and send money directly within the chat. The process works like sending a message, making it fast and convenient.

For Nigerians, though, the process involves using third-party CBN-approved fintechs that work alongside WhatsApp. For example, you can generate a payment link from apps like Flutterwave, Grey, or Payoneer, share it via WhatsApp, and the recipient can receive the payment in their country.

Another approach is using WhatsApp for coordination, while the actual transfer happens through a licensed platform. You simply confirm payment details in WhatsApp, then execute the transfer using a secure fintech or bank app.

CBN regulations prohibit using crypto or informal peer-to-peer (P2P) channels for foreign payments, so you must stick to verified platforms.

Although you can’t yet send money “directly” through WhatsApp from Nigeria, fintech partnerships are expanding, and future updates may integrate legal cross-border payment features.

Until then, WhatsApp serves best as a communication tool, not a transfer medium. Always perform the actual payment through a regulated, CBN-approved fintech or bank to ensure your international transfer is legal, safe, and trackable.

What is the most secure app to send money?

When choosing an app to send money, security should be your top priority—especially when you’re sending funds internationally from Nigeria. A secure app is not just about having a sleek interface; it’s about regulatory compliance, data protection, transparency, and user control. Below are the key security factors to consider, followed by a list of the most secure apps available in 2026.

Key Security Features to Look For:

1. Full Licensing and Regulatory Compliance:
   The app should operate under licenses approved by the Central Bank of Nigeria (CBN) or other global regulators in the regions it serves. This ensures that your money moves through legitimate, traceable channels. Any platform handling remittances or foreign exchange must comply with CBN’s mobile money or payment service provider rules.

2. Strong Authentication and Encryption:
   A secure money transfer app must protect your data using end-to-end encryption, two-factor authentication (2FA), and biometric login such as fingerprint or facial ID. These features prevent unauthorized access to your account and ensure that every transaction is verified.

3. Transparency and Traceability:
   The app should clearly show exchange rates, fees, and delivery times before you send money. Secure platforms also allow you to track your transfer in real time, so you know exactly when your recipient receives the funds.

4. Verified Sender and Recipient Identity:
   Every legal cross-border payment must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards. This means both the sender and the recipient must verify their identities. Apps that require this extra verification step are safer because they prevent fraud and misuse.

5. Reputation and Audit History:
   Always choose an app with a proven history of reliability, transparency, and positive user feedback. Reputable fintech companies publish their regulatory compliance information and undergo regular security audits to maintain global trust.

Most Secure Apps to Send Money in 2026:

• Wise (formerly TransferWise):
  Globally recognized for transparent pricing, low fees, and strict adherence to financial regulations. Wise encrypts all transactions and is licensed in multiple countries, including Nigeria through partner banks.

• Grey.co:
  A Nigerian fintech platform built for international transfers. Grey offers multi-currency wallets and secure conversions between Naira, USD, GBP, and EUR. It uses advanced encryption technology and follows strict compliance standards.

• Send by Flutterwave:
  Developed by Flutterwave, one of Africa’s largest payment infrastructures, this app allows safe, legal cross-border transfers. It employs layered authentication systems and CBN-compliant exchange channels.

• Payoneer:
  Ideal for freelancers and businesses, Payoneer is globally regulated and trusted for secure dollar transfers. It uses advanced fraud detection and strong identity verification processes.

• Eversend:
  A cross-border wallet that offers strong security measures, including biometric verification and encrypted digital wallets. It’s designed for African users who need safe international transactions.

In summary, the most secure app to send money is one that is regulated, transparent, and technologically advanced. Wise, Grey, and Flutterwave Send are the top choices for Nigerians in 2026 because they combine global compliance with strong data protection. No matter which one you choose, always double-check that the app is CBN-approved, encrypted, and verified before transferring funds abroad.

Which banks in Nigeria have international authorisation?

Several banks in Nigeria have international authorisation that allows them to conduct foreign exchange transactions, open offshore branches, and facilitate cross-border transfers.

These banks operate under licenses issued by the Central Bank of Nigeria (CBN) and are recognized by international regulators to engage in global banking operations. Their authorisation enables Nigerians to send and receive money legally from abroad while maintaining compliance with foreign exchange and anti-money laundering (AML) regulations.

The leading banks with international authorisation include First Bank of Nigeria, Guaranty Trust Bank (GTBank), Access Bank, Zenith Bank, and United Bank for Africa (UBA).

These banks are not only dominant locally but also maintain an international footprint through subsidiaries, representative offices, or correspondent partnerships with global banks.

First Bank of Nigeria has one of the most extensive international networks. It operates subsidiaries in the United Kingdom (FBNBank UK) and several African countries. Its international authorisation allows it to facilitate wire transfers, open foreign currency accounts, and process offshore remittances.

GTBank is another top-tier bank with international authorisation. It has a strong presence in the UK through GTBank UK, which is fully regulated by British financial authorities.

This allows Nigerian customers to execute transactions seamlessly between their Nigerian and UK accounts. GTBank also partners with U.S. banks for dollar transfers and maintains correspondent relationships with major international banks.

Access Bank expanded globally after merging with Diamond Bank. It now operates in the UK and other parts of Africa, including South Africa, Kenya, and Ghana. With international authorisation, Access Bank facilitates cross-border transactions for businesses, students, and individuals, offering services in multiple currencies.

Zenith Bank also maintains global partnerships and a London subsidiary—Zenith Bank (UK) Limited—licensed to handle foreign exchange and international remittances. This makes it one of the most trusted banks for offshore payments and global business transactions.

UBA (United Bank for Africa) is perhaps the most internationally recognized Nigerian bank, with subsidiaries in over 20 African countries and offices in New York, London, and Paris. Its U.S. office operates under strict financial regulations, giving Nigerians and African diaspora clients access to secure global banking.

These banks’ international authorisations ensure they can process SWIFT transfers, issue foreign currency accounts, and legally handle payments across borders. When sending money abroad, it’s best to use one of these institutions because they guarantee compliance, transparency, and safety under both CBN and international financial standards.

Can OPay receive money from Canada?

As of 2026, OPay cannot directly receive money from Canada or any other foreign country through international remittance channels. The reason is that OPay operates as a Payment Service Bank (PSB) licensed by the Central Bank of Nigeria (CBN), which limits its operations to domestic transactions. This means users can only send and receive money within Nigeria, not across borders.

However, this doesn’t mean that receiving money from Canada into Nigeria is impossible. You can still receive money legally through CBN-approved international money transfer operators (IMTOs) like WorldRemit, Western Union, MoneyGram, and Remitly, or via fintech platforms such as Grey.co and Payoneer. Once the funds reach your Nigerian bank account, you can then transfer them into your OPay wallet for local spending or withdrawals.

OPay has been expanding its financial infrastructure, and future updates may include partnerships with licensed global fintech companies to enable cross-border payments. Such partnerships would allow Nigerians to receive money from Canada directly into their OPay wallets while maintaining CBN compliance. But as of now, OPay does not have that authorisation.

If you need to receive money from Canada, the best option is to use internationally recognized transfer services. For example, a sender in Canada can use Remitly or WorldRemit to send funds to your Nigerian bank account. Once the money arrives, you can easily move it to OPay for convenience.

It’s important to avoid unlicensed or crypto-based routes when receiving money from abroad, as those are not recognized by the CBN and could lead to account restrictions.

In summary, while OPay remains one of Nigeria’s best local payment apps, it is not yet enabled for international remittances. To receive money from Canada legally, always use CBN-approved fintechs or IMTOs and then transfer the received funds to your OPay wallet for local use.

Which bank is better for international transfers?

The best bank for international transfers from Nigeria depends on several factors, such as speed, exchange rates, fees, and global partnerships. However, in 2026, the top banks recognized for efficient, legal, and transparent international transfers include Access Bank, Zenith Bank, GTBank, First Bank of Nigeria, and UBA.

Access Bank is one of the best options for international transfers due to its wide global reach. With branches in the UK, South Africa, and across Africa, Access Bank provides seamless money transfer services in multiple currencies. It supports both business and personal transfers and offers competitive rates under CBN guidelines.

Zenith Bank is another top choice. Its UK subsidiary, Zenith Bank (UK) Limited, gives it direct access to the global banking network. It’s ideal for students, importers, and business professionals who need reliable international transfer services. Zenith is also known for its excellent compliance record and secure transaction processing.

GTBank stands out for its user-friendly digital platforms and fast SWIFT services. It allows customers to transfer funds abroad for tuition, travel, or business through Form A and Form M applications. GTBank’s strong partnerships with global banks make it one of the fastest and safest options for cross-border transactions.

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First Bank of Nigeria remains a top performer for traditional wire transfers. Its long-standing foreign correspondent network ensures reliability and transparency, especially for large international payments.

Finally, UBA (United Bank for Africa) is one of the best banks for international transfers because of its direct presence in key foreign markets, including New York, London, and Paris. This gives it a unique advantage for sending and receiving funds quickly across multiple regions.

Each of these banks operates under CBN regulation, guaranteeing the legality and safety of every international transaction. While fees and exchange rates may vary slightly, these banks maintain competitive pricing and comply with all foreign exchange and anti-money laundering laws.

In conclusion, the best banks for international transfers in Nigeria are those that combine speed, regulatory compliance, transparent fees, and global partnerships. For most users, Access Bank, GTBank, and Zenith Bank offer the perfect balance between cost, convenience, and reliability.

Which Nigerian bank is best for international transactions?

The best Nigerian bank for international transactions depends on your needs—whether you’re paying tuition abroad, conducting business, or supporting family overseas. In 2026, the leading banks for international money transfers are Access Bank, Zenith Bank, GTBank, UBA, and First Bank of Nigeria.

These banks are not only licensed by the Central Bank of Nigeria (CBN) but also have global authorisation through their international subsidiaries and partnerships.

Access Bank consistently ranks as one of the best for cross-border transactions. With operations in the UK, France, South Africa, Kenya, and other countries, it allows customers to move funds easily across different regions.

The bank supports transfers via Form A for tuition and personal expenses and Form M for import and business payments. Its global partnerships ensure competitive exchange rates and quick delivery times.

Zenith Bank is another powerhouse when it comes to international transfers. With its subsidiary, Zenith Bank (UK) Limited, customers can send money directly to Europe, America, or Asia using the official CBN channels. Zenith is popular among business owners and corporate clients because of its strict compliance with foreign exchange regulations and advanced digital banking tools.

GTBank (Guaranty Trust Bank) excels in digital transfers and user experience. It offers an online Form A platform for customers to process school fees, professional certifications, and medical bills abroad. Its international correspondent network ensures that transfers are secure and fast.

United Bank for Africa (UBA) stands out for its wide international presence, with offices in London, New York, and Paris. This gives it a strong global footprint that simplifies foreign transfers and remittances.

First Bank of Nigeria is also an excellent option, particularly for traditional wire transfers and foreign currency accounts. Its long-established relationships with global financial institutions make it one of the most trusted banks for high-value international transactions.

Ultimately, the best bank for you depends on your purpose, but Access Bank, Zenith Bank, and GTBank are often regarded as the top three for efficient, transparent, and compliant international transfers in Nigeria.

Is Zenith Bank in the USA?

As of 2026, Zenith Bank does not have a direct branch in the United States, but it maintains strong correspondent banking relationships with several U.S.-based financial institutions. These partnerships allow Nigerians to send and receive money from the U.S. legally using SWIFT and other internationally approved systems.

While Zenith Bank operates a fully licensed subsidiary in the United Kingdom—Zenith Bank (UK) Limited—it does not yet have a physical branch in the U.S. However, its correspondent banks in America handle dollar transactions and help process payments between Nigeria and U.S. accounts.

If you need to transfer money to the United States, you can visit any Zenith Bank branch in Nigeria and initiate a Form A or Form M transaction, depending on whether it’s for tuition, business, or personal remittance. The bank will route your funds through its U.S. correspondent partners, ensuring compliance with both CBN and U.S. financial laws.

In addition, Zenith Bank customers can open domiciliary accounts in U.S. dollars, pounds, or euros. This account type makes international transactions easier and safer, allowing you to receive payments directly in foreign currency from abroad.

Although Zenith Bank is not physically located in the U.S., its global partnerships and UK presence give it reliable international coverage. If you need a Nigerian bank with direct operations in both Nigeria and America, UBA is currently the only Nigerian financial institution with a regulated office in New York.

Can I open a bank account in the USA without SSN?

Yes, it is possible to open a bank account in the USA without a Social Security Number (SSN), but it depends on the bank’s policies and the type of account you want to open. Many banks in the U.S. accept alternative identification forms such as an Individual Taxpayer Identification Number (ITIN), a passport, or a foreign government-issued ID for non-residents.

For Nigerians or other international residents who don’t have an SSN, the most common route is to apply using an ITIN. This number is issued by the Internal Revenue Service (IRS) to individuals who are not eligible for an SSN but need to pay taxes or open financial accounts.

Several major banks—like Wells Fargo, Bank of America, and Chase—allow customers to open checking or savings accounts with an ITIN. You’ll also need to provide proof of address (such as a utility bill or lease agreement), your passport, and in some cases, immigration documents or a visa.

If you are still in Nigeria but wish to open a U.S. bank account remotely, fintech platforms such as Grey.co, Payoneer, or Wise (formerly TransferWise) allow you to open virtual USD accounts that function like regular bank accounts for receiving and sending international payments.

While these aren’t traditional U.S. bank accounts, they’re legitimate, compliant, and widely accepted for digital transactions.

In summary, even without an SSN, you can still open a U.S. bank account legally by using an ITIN, passport, and valid proof of address. Always ensure the bank or platform you choose is regulated by U.S. financial authorities to avoid issues with compliance or fund access.

Which bank is in Nigeria and also in the USA?

The only Nigerian bank with a licensed office in the United States is the United Bank for Africa (UBA). Its U.S. branch, located in New York City, operates as UBA America, and it is fully regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Bank of New York.

UBA America provides correspondent banking, trade finance, and remittance services, linking African markets to the global financial system. This makes UBA one of the most internationally connected Nigerian banks, with operations in over 20 African countries and branches in London and Paris as well.

Through UBA’s U.S. operations, customers in Nigeria can send and receive money safely under CBN regulations while benefiting from international banking standards. Businesses and individuals can transfer funds between Nigeria and the U.S. efficiently, making it a preferred bank for exporters, students, and diaspora clients.

Other Nigerian banks, such as Zenith Bank, GTBank, and Access Bank, do not have direct branches in the U.S., but they maintain correspondent relationships with major American banks to process transactions. This means that while you can send or receive money from the U.S. through them, the transaction is routed via a partner institution.

If your goal is to work directly with a Nigerian bank that has a presence in America, UBA is your best option. Its U.S. branch ensures compliance, faster transfers, and easier access to global financial services.

Who is the real owner of Zenith Bank?

The real owner and founder of Zenith Bank is Jim Ovia, a renowned Nigerian businessman, banker, and philanthropist. He founded the bank in May 1990 and has played a central role in transforming it into one of Africa’s most successful and respected financial institutions.

Jim Ovia served as the pioneer Managing Director/Chief Executive Officer (CEO) of Zenith Bank from its inception until his initial retirement in 2010.

Under his leadership, the bank became known for innovation, corporate governance, and digital transformation. He later returned as Chairman of the Board in 2014, a position he continues to hold.

While Jim Ovia is widely regarded as the bank’s founder and major shareholder, Zenith Bank Plc is a publicly listed company on the Nigerian Exchange Group (NGX).

This means that ownership is shared among institutional investors, individual shareholders, and other stakeholders. However, Ovia remains the single largest individual shareholder, maintaining significant influence over the bank’s direction.

Zenith Bank’s success is rooted in its commitment to technology-driven banking, customer service, and compliance with both local and international financial regulations. It has subsidiaries in the UK, Ghana, Sierra Leone, and The Gambia, among others, and has earned multiple awards for financial performance and innovation.

In summary, Jim Ovia is the real owner and visionary behind Zenith Bank. His leadership has established the institution as one of Africa’s most trusted and globally recognized financial brands, combining innovation, professionalism, and strong regulatory compliance.

Can Zenith Bank do international transfers?

Yes, Zenith Bank can process international money transfers legally and securely. It is one of the leading Nigerian banks authorized by the Central Bank of Nigeria (CBN) to conduct cross-border transactions.

Customers can transfer foreign currency to any bank account worldwide using its digital and in-branch platforms. Zenith Bank supports international transfers for purposes such as tuition fees, medical payments, business transactions, and personal remittances.

The bank operates under strict compliance with CBN and global financial standards, ensuring all transactions are traceable and transparent. It uses the SWIFT network for international transfers, which allows secure and fast global fund movements.

Customers can send up to the equivalent of $10,000 daily for personal accounts, though business or corporate accounts may have higher limits depending on documentation and approval.

To use Zenith Bank for international transfers, you must have a domiciliary account (USD, GBP, or EUR). You’ll also need proper documentation, such as an invoice, admission letter, or proof of payment purpose, to comply with CBN Form A or Form M requirements.

Overall, Zenith Bank’s international transfer services are reliable, fast, and fully regulated—making it one of the best Nigerian banks for sending money abroad safely.

Can I open a US bank account from Nigeria?

Yes, it is possible to open a U.S. bank account from Nigeria, but it depends on the type of account and the institution’s policies. Most traditional U.S. banks require a Social Security Number (SSN), but if you are a non-resident or foreigner, you can often use an Individual Taxpayer Identification Number (ITIN) instead.

You will also need a valid international passport, proof of address, and sometimes immigration or visa documents. Some banks might ask for a U.S. mailing address or tax identification for compliance with U.S. banking regulations.

If you don’t live in the U.S., you can still open a virtual or digital U.S. dollar account through fintech platforms like Payoneer, Grey.co, or Wise. These platforms allow you to receive, hold, and transfer money in U.S. dollars without being physically present in the United States.

While these are not traditional U.S. bank accounts, they are fully legitimate and comply with international money transfer and anti-money laundering regulations. So, while opening a full U.S. account as a non-resident can be challenging, fintech alternatives now make it easier for Nigerians to access dollar banking legally from home.

Which 20 banks are liquidated by the Central Bank of Nigeria?

Over the years, the Central Bank of Nigeria (CBN) has revoked the licenses of several banks due to insolvency, poor management, or failure to meet regulatory standards. However, there is no official list of exactly 20 banks that were liquidated at the same time.

Historically, some of the defunct banks include Oceanic Bank, Intercontinental Bank, Afribank, Spring Bank, Bank PHB, and Societe Generale Bank. Most of these banks were either liquidated or merged with stronger institutions during the 2009 banking reform era led by the CBN and the Nigeria Deposit Insurance Corporation (NDIC).

More recently, the CBN has taken similar actions against smaller microfinance and mortgage banks that failed to meet capitalization or compliance requirements.

Liquidation occurs when a bank can no longer meet its obligations, leading to the NDIC taking over to protect depositors and recover assets. The CBN’s goal with such actions is to maintain financial stability and public trust in the Nigerian banking system.

If you want to confirm the status of any Nigerian bank, it’s always best to check directly with the CBN or NDIC for the latest verified information.

Which Nigerian bank is an international bank?

Several Nigerian banks operate internationally, either through foreign subsidiaries, representative offices, or strong correspondent partnerships. These banks include United Bank for Africa (UBA), Access Bank, Zenith Bank, GTBank, and First Bank of Nigeria.

UBA is the most internationally recognized Nigerian bank, with a strong presence in more than 20 African countries and offices in London, Paris, and New York. Its global network makes it easy for Nigerians to send and receive money legally across borders.

Access Bank has expanded aggressively into multiple international markets, including the UK, South Africa, Kenya, and Ghana. It’s ideal for individuals or businesses that frequently transact with partners abroad.

Zenith Bank operates in the UK through its subsidiary, Zenith Bank (UK) Limited, and maintains correspondent relationships with major international banks for cross-border transactions.

GTBank and First Bank of Nigeria also provide global services through SWIFT networks and partnerships with banks around the world.

In summary, these banks are considered international because of their cross-border presence, foreign subsidiaries, and compliance with global banking standards.

What is the international transaction limit for Zenith Bank?

Zenith Bank allows customers to send up to the equivalent of $10,000 per day for international transfers using its online or in-branch channels. However, the exact limit can vary based on the type of account, purpose of the transfer, and supporting documentation.

For personal transfers like tuition or medical payments, customers typically use Form A through the CBN’s approved channels. Business-related transfers use Form M, which allows higher transaction limits with proper documentation such as invoices or contracts.

It’s important to note that Zenith Bank strictly follows CBN’s foreign exchange policies. Any international transfer must comply with anti-money laundering and Know Your Customer (KYC) requirements. You’ll need a domiciliary account in USD, GBP, or EUR, along with relevant documents for the purpose of the transfer.

While $10,000 is the standard daily limit for individuals, corporate clients may have higher ceilings upon request and regulatory approval. To confirm your exact limit, it’s best to contact Zenith Bank directly, as limits may change depending on CBN policies and exchange market conditions.

How much is $1 dollar to naira now?

As of the most recent exchange rate update in 2026, $1 USD equals approximately ₦1,480 to ₦1,490 on the official CBN rate. However, exchange rates fluctuate frequently due to demand, inflation, and market conditions.

The rate you receive will depend on whether you’re using the CBN-approved market, your bank’s rate, or a licensed fintech platform. Commercial banks and official transfer services often use the CBN rate, which is typically lower than the black-market rate.

For accurate figures, always check with your bank before making a transaction. Avoid unregulated exchange platforms or street traders, as using unofficial routes can be risky and illegal under Nigerian foreign exchange regulations.

Which bank can I use outside Nigeria?

If you need a Nigerian bank that you can use outside Nigeria, several top banks offer international access and global partnerships. The most reliable options are UBA, Access Bank, Zenith Bank, GTBank, and First Bank of Nigeria.

UBA (United Bank for Africa) is the most globally integrated Nigerian bank, with offices in the USA, UK, and France. It provides easy access to your funds abroad and supports seamless international transfers.

Access Bank and Zenith Bank also have subsidiaries in the UK and several African countries, allowing customers to manage their accounts and transfer money across borders.

GTBank provides strong digital banking tools, meaning you can access your Nigerian account from anywhere in the world using its online and mobile platforms.

First Bank has decades of international partnerships and correspondent relationships, making it dependable for foreign transactions and international account management.

If you live abroad or travel frequently, opening a domiciliary account with one of these banks will make international banking easier. These institutions comply with global standards, allowing Nigerians to bank safely and legally both at home and overseas.