- Naira into a Nigerian bank account
- The 95,000,000 naira ceiling
- The NIBSS wait nobody warns you about
- Can you open a Wise account if you live in Nigeria?
- Why Wise says you can't top up naira from a bank
- What I'd say to a client who wants to use Wise
- Planning an invoice around these rules
- Other routes Nigerians use
- Frequently asked questions
Wise's help pages say senders can pay naira into personal and business bank accounts in Nigeria, up to 95,000,000 naira per transfer, using a 10-digit account number and bank code. The page I read for opening a Wise balance doesn't list Nigeria, and Wise says you can't top up naira from a bank. Check the app for your own options.
Nigerian freelancers, developers and VAs ask me about Wise constantly, and the replies in forums are often confident and out of date. So I've stuck to Wise's own pages: the guide to naira transfers, the list of places where you can hold a balance and the page on where Wise operates. This is what they say, and what they leave out.
Naira into a Nigerian bank account
Wise's NGN guide says you can send naira to personal and business bank accounts in Nigeria. The sender needs your full name in English characters, your bank code and a 10-digit account number. Wise says money is paid into Nigerian bank accounts only, so there's no wallet or card option described in the guide.
The bank code is the bit people forget. Your bank can give it to you, and it's worth getting right before your client presses send.
The 95,000,000 naira ceiling
Wise says you can send up to 95,000,000 NGN per transfer. For most freelance invoices that's far above what you'll see. It's worth knowing mainly if you receive large project payments, in which case a client may need to split a payment, or ask Wise to confirm the quote before paying.
The NIBSS wait nobody warns you about
| What I checked | What Wise says for Nigeria |
|---|---|
| Where naira can go | Personal and business bank accounts in Nigeria |
| What the sender needs | Full name in English characters, bank code, 10-digit account number |
| Maximum | 95,000,000 NGN per transfer |
| Arrival | Usually the same working day once converted |
| Time to convert | Can take up to two working days |
| Bank settlement | NIBSS may sometimes take up to 24 hours to confirm the payment status |
Wise names NIBSS, the Nigeria Inter-Bank Settlement System, as the reason a payment status can take up to 24 hours to confirm. So if your client says the money has gone and it hasn't shown up in your banking app, give it a day before panicking. Wise also says it shows the sender an estimate when the transfer is set up.
Can you open a Wise account if you live in Nigeria?
The Wise page I read about where you can hold a balance doesn't list Nigeria. Wise's page on where you can use Wise names the places it doesn't operate, and Nigeria isn't among them. It says you can register and send from most countries, and hold money where you can open an account. Put together, receiving through a sender is documented, but I can't confirm you can open and use a balance as a resident, and I won't guess.
Open the Wise app, check the availability for your country and account type, and only then tell clients which details to use.
Why Wise says you can't top up naira from a bank
Wise says you can send NGN only if you already hold it in your Wise account, and you can add NGN by converting another currency you hold with Wise. It also says you currently can't add NGN to your Wise account, or send NGN into it, through a bank account or another external payment method. So Wise isn't somewhere to keep local savings. It's a way for foreign money to reach a Nigerian bank.
What I'd say to a client who wants to use Wise
Keep it short and specific. Tell them you're in Nigeria, that you'd like naira paid into your bank account, and that you'll send the bank code, account number and your name as the bank holds it. Ask them to check the amount in naira that Wise shows before they confirm, because that's the figure that will reach you.
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Then tell them not to panic if the money takes a day to show. Between the conversion step and NIBSS confirming the payment, a short delay is normal according to Wise's own guide, and it's far better to say so up front than to chase on day one.
Planning an invoice around these rules
- Ask your bank for the bank code and confirm your 10-digit account number.
- Give the client your name in English characters, exactly as the bank holds it.
- Tell them the amount you want to receive in naira, and ask them to check the quote.
- Allow up to two working days for conversion, plus time for NIBSS to confirm.
- Keep the invoice and transfer receipt for your records.
Other routes Nigerians use
Wise is one of several options, and many people in Nigeria carry two or three. I've written about how Payoneer works in Nigeria and what PayPal does for Nigerian users, and each has different rules for receiving and withdrawing. For another African market, Wise in South Africa shows how much the picture changes country by country.
Please check with your bank about anything it needs to see for incoming foreign payments, and ask a local accountant about tax. I can't advise on either, and Wise's pages can change, so recheck before a large payment.
Frequently asked questions
Can I receive money in Nigeria through Wise?
According to Wise's NGN guide, a sender can pay naira into personal and business bank accounts in Nigeria, using your full name, bank code and 10-digit account number.
What is the Wise limit for Nigeria?
Wise says you can send up to 95,000,000 NGN per transfer.
How long does it take?
Wise says money usually arrives the same working day after conversion, and conversion can take up to two working days. NIBSS may sometimes take up to 24 hours to confirm the payment status.
Can I open a Wise balance in Nigeria?
The Wise page about where you can open a balance doesn't list Nigeria, and Nigeria isn't on Wise's list of unsupported countries. Check the Wise app for your own options.
Can I top up naira in Wise from my bank?
Wise says you currently can't add NGN to your Wise account through a bank account or another external payment method. You can add NGN only by converting another currency you hold with Wise.
