Delivery time
Typically 60 seconds, max 10 minutes
Minimum send
$10
Maximum send (unverified)
$500
Maximum send (verified)
$10,000 per transfer, $25,000 per week
Pay-in methods
Debit card (instant), ACH (next-day funding), bank wire
Pay-out methods
Nigerian bank account (any bank, instant NIBSS)
Mobile money
Coming soon
FX reference
Live mid-market rate. We take 50 bps spread.
Fee
1.50% of send amount, in USD
Receive currency
NGN (naira)
You send
$100.00
They receive
₦156,812
Fee$1.50
FX rate1 USD = 1,592 NGN
Blended cost1.99%
Delivery~ 60 seconds
Rate locked for 60 seconds at quote time.
Why this corridor first
The strategic case for US→NG
$20B+ annual flow
US → Nigeria is one of the largest formal remittance corridors by value from the United States. Western Union and MoneyGram dominate at 4-7% blended cost. We can beat that on day one.
Diaspora density
Texas, Georgia, Maryland, and New York carry the largest Nigerian populations in the US. Soft-launch distribution is doable without paid acquisition.
Receive-side partnerships
Flutterwave, Paga, and Moniepoint all offer licensed IMTO payout services with REST APIs. Direct NGN partnerships bypass the BaaS take rate in Phase 2.
Regulatory on-ramp
CBN IMTO licensing is a 12-24 month process requiring ~$1M in capital. By Phase 4 we hold our own; until then our receive partner carries the compliance obligation.