It is uncommon to send money from Nigeria to a recipient abroad. The usual activity is that the Nigerians who are working overseas are the ones who are sending money back to their families and relatives in Nigeria. However, due to the negative reports about Nigeria being a country for money laundering activities, one cannot send or receive money through Western Union Transfer Fund.
HOW TO SEND MONEY FROM NIGERIA
Open a foreign currency domiciliary account – a domiciliary account is a foreign currency dominated account and all banks in Nigeria are offering this kind of services.
Tax clearance card
2 Reference letters (2 letters from 2 domiciliary account holders under the same bank you are opening an account with)
Utility bills (PCHN, Water bill, NITEL)
2 passport photos
100USD or 50Pounds
FILLING THE FORM
When filling out the form, make sure that you put check on all the available currencies. This will prevent you from filling another form when you need to transact using new or different currencies. If you have a current account with GTB, you are only required to bring two passport photographs. They do not need you to bring any other identification or reference letters because they already have those necessary documents on file. If you prefer to open an account in Oceanic Bank, you would have to follow the same steps stated above; the only difference is that your reference letters can come from either account holders from other banks or a salary account holders.
HOW TO TRANSFER FUNDS FROM NIGERIA
To transfer funds abroad from Nigeria, the recipient MUST have a bank account in the designated place. For the Nigerian sending the money, he/she would just have to inform the bank that he/she is transferring fund to the designated bank abroad.
For GTB account holder, all you need to do is to fill out a form and the transfer of funds will be done immediately. But if you are an Oceanic bank account holder, you are required to make a letter indicating your intentions to transfer fund to another country.
TRANSFER FUND CHARGES
The charges of transferring funds depend highly from bank to bank and the amount of money you are transferring. If you need to transfer funds abroad, just follow the abovementioned instructions as this is the best way to send money from Nigeria.
Tel. no. 08036664739
Name: Adesola Adenuga
Domiciliary account desk