Nigeria Transfer Update

An Important Update for Customers Sending Money to Nigeria

Updated as of 1:06 p.m. EST on 10/19/21: AiDEMONEY is now enabling both cash and bank deposit payouts for Nigeria money transfers. For users who provide a Naira recipient account, our partner banks will create a USD account for your recipient and credit USD to that account. If you have any questions about sending money to Nigeria on the AiDEMONEY platform, please email support@AiDEMONEY.com or send us a message via our website’s live chat. 

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Updated as of 8:25 a.m. EST on 8/23/21: In response to the CBN’s recent money remittance policy changes, AiDEMONEY is temporarily restricting payout modes to Nigeria to cash payout only. The Nigerian banks are working hard to make necessary changes to secure remittances, and we are carefully following their activity. Once this situation has improved, we will reopen bank account deposit payout modes to afford you more flexibility. We appreciate your support as we continue to prioritize the security of your money transfers to Nigeria.

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Recent policy changes in Nigeria have caused much confusion for diaspora who need to send money from the U.S. to Nigeria. At AiDEMONEY, we’re closely monitoring this situation as it evolves. As of today, due to these regulatory changes, any transfer to Nigeria intended for bank payout through our platform must be made into a U.S. dollar domiciliary account. Please ensure that your recipient’s bank account in Nigeria fulfills this criteria. If your recipient does not have a U.S. dollar domiciliary account in Nigeria, you can choose to transfer the funds via cash pickup.

As members of the African diaspora community, we understand how important it is for your money transfer to arrive quickly. However, we also believe in transparency—because that’s what you deserve. Nigeria’s recent CBN policy changes have led to delays in some money remittances as financial institutions adjust and adapt to the new regulations. If you have a question about the status of your transfer to Nigeria, please email our team at support@AiDEMONEY.com. We’re here to help.