Nigeria is the highest recipient of international remittances in Africa, with inflows worth $19.56 billion in 2023 and accounting for around 5.2% of its GDP.
According to a World Bank report, Nigeria accounted for about 35% of the region’s total inflows in the same year. However, this marked a decline from the $20.12 billion received in 2022.
These funds are more than just statistics, they serve as lifelines for millions of households, covering essentials such as food, education, healthcare, and housing. With inflation eroding purchasing power at home, diaspora remittances are becoming even more critical to family survival and small business support.
In 2024, Nairametrics reported that Africa received over $95 billion in remittances, Nigeria continued to rank as a key remittance hub, driven by its diaspora community of over 20 million people with Egypt, and Morocco leading as top recipients
IOM Nigeria’s Chief of Mission, Sharon Dimanche disclosed Nigeria received $20.93 billion in remittances in 2024, an 8.9% increase from the previous year.
Nigeria’s strong performance in remittance inflows has been largely supported by digital remittance apps, which have become the dominant channels for sending money home.
These platforms are preferred for their speed, convenience, competitive exchange rates, and ability to reach both banked and unbanked Nigerians through banking networks and mobile money systems.
“Nairametrics Research drew insights from staff evaluations, user reviews, download data, and expert opinions to inform its findings.”
Here is a list of the top 10 remittance apps Nigerians use in 2025:
Wise is a global money transfer platform that allows users to send funds to multiple countries with transparent fees and real-time exchange rates.
According to details on the Wise app, sending $100 to Nigeria currently gives recipients N148,902.15, with an exchange rate of $1 = N1,531.60. The rate is guaranteed for 8 hours, giving users flexibility before completing the transfer.
For this transfer, when paying with a connected bank account ACH (Automated Clearing House, the U.S. electronic bank-to-bank payment system), the platform charges a fee of $0.17 for the ACH transaction and $2.61 as Wise’s service fee. This brings the total included fees to $2.78, which is 2.78% of the transfer amount. The estimated arrival time for funds is in seconds.
On the Google Play Store, Wise has been downloaded over 10 million times, and customers have rated the app 4.8 out of 5.
