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The short answer
Usually a Ghana bank sends a SWIFT transfer to Nigeria in dollars (or pounds or euros), not cedis, because Nigerian banks receive SWIFT payments in those currencies; GTBank's inflow page, for example, lists USD, GBP and EUR. Whether the receiver ends up with naira or dollars depends on the account it is paid into: a domiciliary account keeps the dollars, a naira account is credited after conversion at the Nigerian bank's rate. Expect a sending fee, a SWIFT charge and possible correspondent deductions along the way.
SWIFT is the oldest route for bank-to-bank payments between countries, and the one any bank in Ghana can use to reach any bank in Nigeria. It is also the slowest and the one with the most hidden deductions. This guide explains how the currency conversion works on a SWIFT payment from Ghana, who bears the charges, and how to make sure the money arrives as naira if that is what your receiver needs.
Which currency travels
A SWIFT payment moves in a currency both banks can settle in. Nigerian banks typically receive SWIFT inflows in dollars, pounds or euros; GTBank's foreign currency inward transfer page lists exactly those three. We did not find a Nigerian bank page that accepts cedis by SWIFT. So in practice:
- Your Ghanaian bank debits cedis from your account and converts them to dollars, or debits your dollar account directly.
- The dollars travel through one or more correspondent banks to the Nigerian bank.
- The Nigerian bank credits the receiver: in dollars if the account is a domiciliary account, or in naira after converting, if the bank allows a naira credit for that inflow.
That means two possible conversions, cedis to dollars in Ghana and dollars to naira in Nigeria, each with its own rate. Ask the receiver's bank how it treats a dollar SWIFT paid into a naira account before you send. Some banks will only credit a domiciliary account in the same currency.
The charges
UBA Ghana's Tariff Guide 2026 shows how a Ghanaian bank prices an outward transfer:
| Account debited | Commission | Minimum | SWIFT charge |
|---|---|---|---|
| Cedi (GHS) account | 1% of face value | US$10 | US$25 |
| Foreign currency account (FCA) | 1% of face value | US$10 | US$25 |
| Locally sourced forex (FEA) | 1% of face value plus 1% externalisation | US$20 | US$25 |
On top of this, the instruction carries a charge code. In the SWIFT MT103 standard, OUR means the sender bears all charges, SHA means the sender pays its own bank and the receiver bears the rest, and BEN means the receiver bears all charges. With SHA or BEN, correspondent banks may deduct a fee in transit, so the amount credited can be less than you sent. If the receiver must get an exact sum, for example school fees, ask your bank whether it offers OUR and what that costs.
Details the Nigerian bank needs
GTBank's inflow page sets out what a sender must provide, and other Nigerian banks ask for similar details:
- Beneficiary account number and name as held by the bank.
- The bank's name and SWIFT code.
- The Nigerian bank's own account number with its correspondent bank, and the correspondent's name or SWIFT code, from the receiving bank's payment instructions.
- For individual inflows from individuals abroad, the purpose of the payment, which GTBank says the CBN requires.
GTBank's page also says credits above US$10,000 are reported to the NDLEA and the CBN. Large payments are normal, but they are recorded, so keep your supporting documents.
Tracking and timing
A SWIFT payment can take several working days, longer if a correspondent bank queries it or a weekend falls in between. Ask your Ghanaian bank for the payment confirmation, which shows the amount, currency, charge code and beneficiary details exactly as sent. If the money has not arrived, the receiver's bank can search for it using that confirmation. Check it immediately for typing errors in the account number or name, since a SWIFT payment that cannot be applied is usually returned rather than corrected, and a return brings its own deductions.
Is SWIFT the right route?
For many family payments, faster routes exist. PAPSS settles in local currency at each end and says it processes payments within a maximum of 120 seconds, but only between connected banks; see how long a PAPSS payment takes. Reports of a CBN directive say licensed money transfer operators must pay out in naira from 1 May 2026; that concerns money transfer operators, not bank SWIFT payments. SWIFT remains useful for large sums, for paying a dollar account, and for banks outside PAPSS. The Nigeria library compares SWIFT with local payment rails.
Where Pryme fits
A Pryme account opened from Ghana holds USD and NGN, each with its own account details, so dollars can stay as dollars until you choose to convert with Swap; the app shows the rate and the fee before you approve. See the multicurrency account and opening a Nigerian domiciliary account from Ghana.
Questions people ask
Can I send cedis by SWIFT to a Nigerian bank?
In practice the payment usually travels in dollars, pounds or euros. GTBank, for example, lists USD, GBP and EUR as the currencies it receives.
Will my family get naira or dollars from a SWIFT transfer?
It depends on the account. A domiciliary account is credited in dollars; a naira credit depends on the receiving bank converting the inflow, so ask that bank first.
What is the SWIFT charge at UBA Ghana?
UBA Ghana's Tariff Guide 2026 lists US$25 SWIFT plus 1% commission (minimum US$10, or US$20 for locally sourced forex with a further 1% externalisation).
What do OUR, SHA and BEN mean?
They set who pays transfer charges: OUR the sender, SHA shared, BEN the receiver. With SHA or BEN the amount credited can be reduced by intermediary banks.
Sources
- UBA Ghana: Tariff Guide 2026 (PDF) · accessed Oct 2026
- GTBank: foreign currency inward transfer (FX inflow) · accessed Oct 2026
- BNZ: SWIFT MT103 message specification (PDF) · accessed Oct 2026
- PAPSS: send and receive money · accessed Oct 2026
- Prime Business Africa: CBN orders naira-only payout for diaspora remittances from May 2026 · 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.