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The short answer
The money normally reaches you only after the estate has a grant (probate or letters of administration) from a Nigerian court and the executor or administrator releases it. Dollars can be sent abroad more easily than naira, which may need converting through an eligible route. Expect your Australian bank to ask for the grant, the will or distribution document and statements showing the transfer, and keep the value of any inherited asset for later tax.
Step one: the estate needs a grant
Nigerian banks, pension administrators and registries release a deceased person's assets to the person a court has appointed. Where there is a will, that is the executor, under a grant of probate; where there is not, an administrator under letters of administration. PenCom's 2023 FAQ, for example, says a PFA pays a deceased contributor's balance to the executors or the administrator appointed by the probate registry. For how the grant is obtained, see letters of administration for a bank claim.
If you are an heir rather than the executor, the executor or administrator collects the assets, settles debts and then pays out. Your part is to give them accurate account details and the documents your own bank will want.
If you are the executor and live in Australia
An executor abroad can still act, but much of the work happens in Nigeria: applying for the grant, closing accounts and dealing with property. Many executors appoint a lawyer or a trusted relative in Nigeria under a power of attorney to handle the steps on the ground. A power of attorney signed in Australia usually needs to be witnessed and authenticated before Nigerian institutions accept it; see signing a Nigerian power of attorney in Australia. Keep a written record of every payment out of the estate, because beneficiaries are entitled to an account of what was done.
Step two: what the estate holds
| Estate asset | Getting it to Australia |
|---|---|
| US dollars in a domiciliary account | A transfer after release; reports of the 2026 FX Manual describe telegraphic transfers of up to $10,000 a day for ordinary dom holders |
| Naira in a bank account | Needs conversion; there is no general allowance for exporting locally held naira, so ask the bank what route it will accept |
| Property or shares | Sold or transferred first; then as naira proceeds |
| RSA pension balance | Paid by the PFA to the executor or administrator |
Ask the executor to tell you, in writing, which currency your share will be paid in and from which account. A dollar share and a naira share are very different jobs.
Step three: tax on both sides
Nigeria
Bloomberg Tax's summary of the Nigeria Tax Act 2025 says inheritance is not a chargeable disposal for capital gains tax, and heirs take inherited assets at their market value at the date of death. The NGEX diaspora guide says gifts and remittances are not taxable. If the estate later sells an asset, any gain after death is a separate question.
Australia
The ATO pages we used do not deal with inheritances directly, so ask the ATO or a tax adviser about your case. What they do say: Australian tax residents must declare foreign income, such as interest or rent the inherited money or property earns after it is yours, and you may have to pay Australian capital gains tax when you later sell an overseas asset, so keep a record of its value at the relevant times. This is information, not advice.
Step four: what your Australian bank will ask
A large international transfer from an estate is the kind of payment banks check. Prepare before the money is sent:
- The grant of probate or letters of administration (certified copy).
- The will, or a distribution statement from the administrator showing your share.
- A letter from the executor or administrator confirming the payment. One UK lender's source-of-funds document, for comparison, asks for exactly that: a letter from the executor.
- Statements from the estate account showing the money leaving.
- The death certificate, and your ID showing your name matches the documents.
If documents are not in English, ask the bank whether it needs a translation. Tell the bank before the money arrives, so it is not held while questions are asked.
A worked example
Example only: your share of an estate is $30,000 held in a dom account and ₦20,000,000 in a savings account. The administrator can send the dollars over three days within the $10,000 daily figure reported for ordinary dom transfers, subject to the bank's own process. The naira portion depends on the conversion route the bank accepts. If it can be converted at an example ₦1,400 per dollar, that is $14,285.71 before charges; if not, it may be better left in a Nigerian account in your name for future use there.
Where Pryme fits
If part of an inheritance is staying in naira, a Pryme Personal account opened from Australia gives you a naira account number in your name, held by a licensed Nigerian microfinance bank, plus USD, GBP and EUR. You can generate verifiable statements through VerifyDoc.ai when a bank asks for proof. See multicurrency and receiving naira from Nigeria. Outside Nigeria, Pryme works through regulated partners.
Questions people ask
Can an inheritance from Nigeria be paid straight into my Australian account?
Yes, once the executor or administrator has a grant and releases your share. Dollar balances are easier to send than naira.
Is inheritance taxed in Nigeria?
Bloomberg Tax's summary of the Nigeria Tax Act 2025 says inheritance is not a chargeable disposal for capital gains tax; heirs take assets at market value at death.
Do I pay tax in Australia on an inheritance from Nigeria?
The ATO pages we used do not cover inheritances directly; ask the ATO or an adviser. Income the inheritance earns afterwards may be declarable.
What documents will my Australian bank ask for?
Usually the grant, the will or distribution statement, a letter from the executor and statements showing the transfer.
Sources
- PenCom: Frequently asked questions (2023) · accessed Oct 2026
- TheCable: CBN foreign exchange manual 2026 (3 Jun 2026) · accessed Oct 2026
- Bloomberg Tax: New Nigeria tax law redefines capital gains tax for individuals (2 Feb 2026) · accessed Oct 2026
- NGEX / NiDCOM: Diaspora guide to Nigeria's 2026 tax reforms (Jan 2026) · accessed Oct 2026
- ATO: Australian resident for tax purposes - foreign and worldwide income (last updated 15 Jun 2026) · accessed Oct 2026
- United Trust Bank: Source of funds requirements (Dec 2025) · 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.