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The short answer
The cheapest reliable way to send money from Enugu to a relative in Nsukka, Udi or another state is a bank transfer to their own account; the main costs are your bank's transfer fee and, from January 2026, a ₦50 stamp duty on transfers of ₦10,000 or more. If the relative has no account or no phone banking, a transfer to a trusted POS agent near them, who pays out cash, is the usual fallback, at the cost of the agent's charge.
The four common ways
| Method | What it costs (as at Oct 2026) | Speed | Main risk |
|---|---|---|---|
| Bank transfer to the relative's account | Your bank's NIP fee plus ₦50 stamp duty on ₦10,000+ | Usually minutes | Wrong account number |
| Transfer to a POS agent who pays out cash | Bank fee and stamp duty, plus the agent's cash-out charge | Minutes, if the agent has cash | Agent dishonesty or no cash on hand |
| Cash sent with a bus driver or traveller | Whatever you agree with the driver | Same day to a few days | Loss, theft, no proof |
| Relative withdraws at an ATM or bank branch | ATM or branch charges where applicable | Depends on distance to a branch | Travel cost for the relative |
Bank transfer: what you actually pay
Bank transfer fees between banks are set within the CBN Guide to Charges. Under the 2020 Guide still widely applied, interbank transfers cost ₦10 below ₦5,000, ₦25 from ₦5,000 to ₦50,000, and ₦50 above ₦50,000. In April 2026 the CBN published an exposure draft proposing transfers free up to ₦5,000, ₦10 between ₦5,000 and ₦50,000 and capped at ₦50 above, as reported by TechCabal; check your own bank's current charge in its app. Many fintech accounts charge less or offer a number of free transfers.
Separately, under the Nigeria Tax Act 2025, from 1 January 2026 a ₦50 stamp duty is deducted from the sender on electronic transfers of ₦10,000 or more, as reported by Techeconomy. It replaced the old electronic money transfer levy that the receiver used to pay. Transfers below ₦10,000 and certain salary and own-account transfers are exempt.
A worked example
Example only. You send your mother in Udi ₦40,000 a month. Using the 2020 bands, the bank fee is ₦25 and stamp duty ₦50, so each transfer costs ₦75. Over a year that is ₦75 × 12 = ₦900. If you split it into four weekly transfers of ₦10,000, each attracts ₦25 + ₦50 = ₦75, so the month costs ₦300 and the year ₦3,600. One larger monthly transfer is cheaper than several small ones above ₦10,000.
When the relative has no account: POS agents
In many villages around Nsukka, Udi, Awgu or Oji River, the nearest bank branch may be far away, but a POS agent is close. The usual arrangement: you transfer to the agent's account, the agent hands cash to your relative, and you pay the agent's charge.
- Use an agent your relative already knows, and ask the agent to call or message you when the cash is handed over.
- Agree the charge before you send. Agents set their own charges, often per ₦1,000 or by band; ask, do not assume.
- Large amounts may need to be split: the CBN's December 2024 circular caps PoS cash-outs at ₦100,000 per customer per day and agents at ₦1.2 million a day, so an agent may not have enough cash on a busy day.
- Keep the transfer receipt and the agent's name and number.
Example only. ₦50,000 sent to an agent in Nsukka: bank fee ₦25, stamp duty ₦50, agent charge example ₦500 (₦100 per ₦10,000). Total cost ₦575 in this example, against ₦75 if your relative had an account.
Helping a relative open an account
A one-off effort to get a parent or relative a bank account with a phone number linked often pays for itself within months. Most banks offer basic tier-1 accounts with simple ID, which can be opened at a branch, with an agent or in some cases by USSD. Help them set up a PIN they will remember, show them how to check their balance, and warn them that no bank will ever call to ask for the PIN.
Cash with drivers: the old way
Sending an envelope with a driver from Holy Ghost or Ogbete park is still common for small sums and for relatives far from any agent. It leaves no record and no recourse if the cash goes missing. If you must, use a driver you know, keep amounts small, and ask your relative to call you when it arrives.
What to check first
- Confirm the account name your bank shows before sending.
- Ask the relative, or the agent, to confirm receipt.
- Send one larger transfer rather than many small ones above ₦10,000.
- Keep receipts for family records, especially for school fees or medical bills you are paying.
Where Pryme fits
From a Pryme account you send to any Nigerian bank account from the Send screen, and the fee is shown before you confirm. A Personal Assistant can prepare a monthly transfer and remind you, but nothing moves until you approve it. Family abroad can hold GBP, USD or EUR and Swap to Naira when they choose. See bank transfer limits in Nigeria and helping an older parent set up a money assistant.
Questions people ask
What is the cheapest way to send money to the village?
A bank transfer to the relative's own account. You pay your bank's transfer fee and, on ₦10,000 or more, ₦50 stamp duty from January 2026.
Who pays the ₦50 stamp duty on transfers?
From 1 January 2026 the sender pays it, on electronic transfers of ₦10,000 or more, under the Nigeria Tax Act 2025.
Can a POS agent receive money for my mother?
Yes, many people transfer to a trusted agent who pays out cash. Agree the charge first and ask for confirmation when the cash is handed over.
How much does it cost to transfer money to another bank?
Under the 2020 CBN Guide, ₦10, ₦25 or ₦50 depending on the amount; a 2026 draft proposes lower bands. Check your bank's app for its current charge.
Sources
- CBN: Guide to Charges by Banks, Other Financial and Non-Financial Institutions (effective 1 Jan 2020) · accessed Oct 2026
- TechCabal: CBN exposure draft of the revised Guide to Charges (Apr 2026) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 Jan 2026) · accessed Oct 2026
- Techeconomy: 7 key highlights of CBN's new ₦100,000 cash-out limit for PoS transactions (Dec 2024) · 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.