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Is sending money to Nigeria illegal?

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Is sending money to Nigeria illegal?

The central bank of Nigeria has made it illegal to send Naira to Nigeria as of 17/12. As a licenced operator, we are complying with this ruling.

Why is it so difficult to send money to Nigeria?

Sending money to Nigeria from USA or from any other country is often a big help for your relatives and your friends living there. But it can be hard as well because of the strict money transfer regulations because of the anti money laundering rules.

What are the disadvantages of MoneyGram?

Moneygram Money Transfer Review

Logo
Website www.moneygram.com
đź‘Ť Advantages Very Global, Very High Reach Enables Cash pickup Remitting Cash Since the 1940’s
đź‘Ž Disadvantages Very Negative Client Reviews on Some Platforms Relatively High Fees Based on World Bank statistics

Is MoneyGram banned in Nigeria?

Nigeria’s CBN has blocked all transfers into the country except via Western Union, MoneyGram & Ria. Drat. “Almost all” because as of now, only three MTOs – Western Union, MoneyGram and Ria – are authorised to make transfers.

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Is MoneyGram still working in Nigeria?

Receivers in Nigeria can now receive in USD only. Cash payouts in Nigeria are now only available in US dollars.

Can you send money to Nigeria with MoneyGram?

We make it easy to send and receive money online and in person. You can also send money direct to bank accounts in Morocco, Ghana and Nigeria. We have most banks covered. Be sure to check the MoneyGram cost estimator to find great exchange rates and fees for your money transfer.

Is MoneyGram working in Nigeria?

There are locations across Nigeria, Ghana, Liberia, Cameroon, Senegal, Kenya, Uganda, South Africa, Zimbabwe, Morocco, Egypt, Algeria, Tunisia, Ethiopia, Ivory Coast, Gambia, Sierra Leone, Burkina Faso, Mali and all across Africa.

How does MoneyGram work in Nigeria?

MoneyGram ADMT service is a payment service that enables MoneyGram customers abroad send money to beneficiaries in Nigeria. A sender of funds can initiate transfers from a point of sale (MoneyGram Agent location abroad) for Cash pick up or direct credit into a customer’s account in Nigeria.

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Is MoneyGram refundable?

Will I get my fee refunded? If you cancel within 1 hour of payment, you will be issued a full refund. For cancellations made more than 1 hour and up to 180 days after payment, you will be issued a refund for the send amount only, excluding fees.

Which Nigerian banks accept MoneyGram?

For every Dollar sent to you from anywhere in the world via MoneyGram, you will receive N5 more into your GTBank account or over the counter at any GTBank branch nationwide. MoneyGram ADMT service is a payment service that enables MoneyGram customers abroad send money to beneficiaries in Nigeria.

What banks in Nigeria do MoneyGram?

THE LIST OF BANKS WITH MONEYGRAM IN NIGERIA

  • Ecobank.
  • Fidelity Bank.
  • FCMB.
  • Access Bank.
  • Diamond Bank.
  • First Bank.
  • GT bank (Account Deposit Service)
  • Keystone Bank.

Is MoneyGram safe?

MoneyGram is very safe when sending to someone you know and trust. Legitimate lottery or sweepstakes NEVER require people pay money up front.

Can I use MoneyGram in Nigeria?

MoneyGram is the second-largest provider of international money transfers in the world after Western Union. With a huge global network of more than 350,000 agent locations, MoneyGram international money transfer makes it possible to transfer funds to more than 200 countries and territories around the world including our very own Nigeria.

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How can I send money to Nigeria from USA?

Method 1: Send Money Online. With MoneyGram, it’s easy to send money to Nigerian via the web by going to the MoneyGram website or on your phone by downloading the mobile app. The first step to sending money online using MoneyGram is by defining the receiver of the money.

How to send money online using MoneyGram?

Method 1: Send Money Online. 1 Select a receiver. The first step to sending money online using MoneyGram is by defining the receiver of the money. 2 Choose how to pay. The second step of the process is to choose how you want to pay. 3 Send the money.

Why is the Central Bank of Nigeria blocking money transfers?

The sudden move has created immediate backlash because it affects a large volume of money. The Central Bank of Nigeria has suddenly changed its policy toward money transfer operators, effectively blocking many services used by Nigerians to send money to and from the country.