According to the world bank, billions of dollars are being remitted into Nigeria by the Nigerians in diaspora and at the same time, there are people in Nigeria wanting to send money to their loved one abroad but are faced with difficulties either because they don’t know how to or they are faced with other financial issues.
As of now, you can only send money abroad from Nigeria in 3 ways;
1. Western Union
This is the most common means of sending money but you need to own a domiciliary account to be able to use the service. It takes about 72 hours for your payment to be confirmed.
2. Financial Technologies
This is the most common and advisable means of making payment internationally. There are so many fintech apps but it is advisable that you consider the exchange rate, processing fee and reliability rate before using any of the applications available. This means it is safe and transparent.
Weighing the options above, you should think of the importance of the payment you need to make and how fast you need it done. If you can determine these, second which channel wouldn’t be an issue.
