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How to send money to Nigeria
How to send money to Nigeria:
In recent months there have been important amendments to remittance regulations in Nigeria. As per the Central Bank of Nigeria (CBN), remittances to Nigeria will no longer be accepted into Naira bank accounts. Remittances are now required to be sent to Nigerian Domiciliary accounts only. If your recipient in Nigeria has a dollar based Domiciliary account, you can send them money from South Africa.
To send money home, follow these steps:
- Select “Add Recipient” from the home screen of the Minit Money app
- Select “Nigeria”
- Select “bank account” button
- Select “$ Domiciliary account”
- Select the relevant bank, enter account number and enter your recipient’s details
Please remember that it is no longer possible to send money to a Naira based bank account, you will need to create a new recipient with a US dollar Domiciliary account. At this stage we have access to 4 banks in Nigeria with $ domiciliary accounts, more will be added over time.
