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The short answer
Pay for a build in Nigeria in stages tied to work you can verify, from an account you control, rather than sending large lump sums to a relative or contractor. Keep the money in your own currency until each stage is due, convert only that stage's naira cost, and insist on receipts and photos for every payment.
Why building from abroad goes wrong
Stories of diaspora Nigerians who sent money for years and came home to an unfinished or missing house are common. The causes are usually the same: large sums sent ahead of work, no written budget, one person with full control of the money, and no independent check that work was done. Few of these problems are about the exchange rate. They are about control and evidence.
Set up the project before you send money
- Secure the land properly. Verify title with the state land registry and a lawyer before any building money moves.
- Get drawings and a bill of quantities. A priced list of materials and labour, stage by stage.
- Choose who manages the site. A relative, a project manager, a contractor, or a mix. Separate the person who manages work from the person who checks it, where you can.
- Agree stages and payments in writing. For example: foundation, blockwork to lintel, roofing, plastering, finishes.
- Decide how you will verify each stage. Dated photos and video, a visit by an independent surveyor, or both.
- Check any company you pay. See how to verify a Nigerian company before you pay it.
Stage payments: an example schedule
Example only. The figures are invented to show the method, not to indicate building costs.
| Stage | Share of budget | Example naira cost | Released when |
|---|---|---|---|
| Setting out and foundation | 15% | ₦9,000,000 | Foundation photos and site visit |
| Blockwork to lintel | 20% | ₦12,000,000 | Photos, block count against bill |
| Lintel to roof level and roofing | 25% | ₦15,000,000 | Roof completed |
| Windows, doors, plastering, electrical and plumbing | 25% | ₦15,000,000 | Inspection of first fix |
| Finishes | 15% | ₦9,000,000 | Final walkthrough |
Pay materials directly to suppliers where possible, against an invoice, rather than giving cash to the site manager to buy them. Labour is usually paid weekly or at milestones; agree the rate per stage or per day in writing, and pay it to the contractor rather than to individual workers so responsibility stays clear. Hold back a small retention, often 5% of each stage, until the snag list at the end is cleared.
The currency question
Building costs are in naira, but your savings may be in pounds or dollars. If you convert everything at the start, you carry the risk that naira prices rise during the build, often faster than any gain from converting early. If you convert stage by stage, you keep your money in your currency until each payment is due.
- Hold the build budget in your earning currency.
- Convert each stage's naira cost when the stage is approved.
- Keep a contingency of 10% to 20% for price rises.
- Re-price the remaining stages every few months, as material prices change.
Warning signs during the build
Projects rarely fail suddenly. They drift. Watch for these signals, and pause payments until each is explained:
- Requests for money ahead of the agreed stage, especially 'to beat a price rise'.
- Photos that could be from any site, with no recognisable landmarks or dates.
- Material receipts without a supplier's name, address or phone number.
- Repeated emergencies: sick workers, seized materials, police problems, each needing cash at once.
- Reluctance to let an independent person visit.
- A site manager who stops answering video calls.
Fraudsters also target diaspora builders directly with fake land sales and impersonation of relatives or lawyers. Our guide to money transfer scams targeting the diaspora covers the common approaches. When something feels wrong, stop the next payment first and ask questions second. A delay of a week costs far less than a stage paid for work that was never done.
Receipts, records and tax
Ask for a receipt for every payment and keep a simple ledger: date, stage, payee, amount, receipt. When the house is finished, you will want those records for any future sale, for valuations and if you let the property. A diaspora tax guide published on the NiDCOM website notes that Nigerian rental income and gains on Nigerian assets remain taxable even for non-residents. If you plan to invest in Nigeria more widely, a CBN framework effective from 1 January 2025 allows Non-Resident Nigerian Investment Accounts; foreign currency balances can be repatriated without restriction.
Where Pryme fits
A Pryme Personal Account can be opened from any country and holds GBP, USD, EUR and NGN in your own name, so the build budget stays in your currency until a stage is due. Swap shows the rate and fee before you approve, and you can pay suppliers in naira with Send. Through our VerifyDoc.ai partnership you can generate a verifiable receipt or statement for each payment, which anyone you share it with can check is genuine and unaltered. See multicurrency.
Questions people ask
How do I build a house in Nigeria while living abroad?
Secure the land title, get drawings and a priced bill of quantities, agree stages in writing, and release money only when each stage is verified.
Should I send building money to my relative?
It is safer to keep the money in your own account and pay suppliers and contractors directly against invoices, stage by stage.
Should I convert all my building money to naira at once?
Usually not. Convert each stage's cost when it is due, and keep a contingency, because naira building costs often rise during a project.
How do I know my contractor is doing the work?
Ask for dated photos and video at each stage, and pay for an independent site visit before releasing the larger payments.
Sources
- Diaspora guide to Nigeria's 2026 tax reforms (NGEX, published on NiDCOM) · accessed Oct 2026
- CBN framework for Non-Resident Nigerian Ordinary and Investment Accounts (Mondaq) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.