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The short answer
For most people in Aba the cheapest way to send money to family elsewhere in Nigeria is a direct bank or app transfer: under the CBN's 2020 Guide to Charges, banks may charge at most ₦10, ₦25 or ₦50 per transfer depending on the amount, and a 2026 draft proposes making transfers up to ₦5,000 free. Cash through a POS agent costs more because the agent adds a service charge, and money from abroad should come through an IMTO on the CBN's licensed list, where the exchange rate matters as much as the fee.
Who sends what from Aba
Aba is a city of traders, artisans and workers, many of whom support parents and siblings in villages across Abia, Imo, Anambra and beyond, or children at school in other cities. The money usually moves in small, regular amounts, which means the fee per transfer matters. At the same time, many Aba families receive money from relatives abroad. This guide covers both directions.
Sending within Nigeria: your options
| Method | How it works | Cost to watch |
|---|---|---|
| Bank app or internet banking | Transfer to the recipient's account at any bank | Capped transfer fee plus VAT; often free within the same bank |
| USSD code | Transfer from a basic phone | Transfer fee plus a USSD session charge from some banks |
| POS agent (cash in) | Give cash to an agent who transfers it | Agent's service charge, often far more than a bank fee |
| Recipient withdraws at a POS agent | Family receives by transfer, then cashes out | Agent's cash-out charge, paid by the recipient |
| Fintech or mobile money app | Send to the recipient's app or bank account | Varies by app; check its price list |
What banks may charge
The CBN's Guide to Charges (2020) caps electronic transfers to other banks at ₦10 for amounts below ₦5,000, ₦25 for ₦5,000 to ₦50,000 and ₦50 above ₦50,000. An exposure draft published in April 2026 proposes making transfers up to ₦5,000 free, ₦10 for ₦5,000 to ₦50,000 and a ₦50 cap above that; its effective date had not been stated (TechCabal, April 2026). Until your bank confirms a change, assume the 2020 caps.
Banks publish their own tariffs within those caps. For example, UBA's service charges document dated September 2026 lists ₦10, ₦25 and ₦50 plus 7.5% VAT for app or internet transfers to other banks, and free transfers between UBA accounts. Check your own bank's charges page or app.
Worked example: weekly support
Example: Chidi, a trader at Ariaria, sends his mother in Umuahia ₦30,000 every week.
- Bank app transfer: ₦25 + 7.5% VAT = ₦26.88 per transfer. Over four weeks: about ₦107.50.
- Cash through a POS agent: if the agent charges ₦300 to transfer ₦30,000 (an illustrative figure), four weeks cost ₦1,200, more than ten times the bank route.
- His mother cashing out at an agent: if her local agent charges ₦300 to withdraw ₦30,000 (again illustrative), that is another ₦1,200 a month on her side.
Sending larger, less frequent amounts reduces the number of fees, but only if your family can manage money for longer between transfers. Above ₦50,000 the bank fee is capped, so one ₦120,000 transfer costs ₦53.75 including VAT instead of four transfers at ₦26.88 each (₦107.50).
Cash limits to know
If your family relies on POS agents to withdraw, the CBN's agent banking guidelines (October 2025) limit cash-out to ₦100,000 a day and ₦500,000 a week per customer. A relative who needs ₦250,000 in cash for a ceremony would need three days at an agent, or a visit to a bank branch.
Receiving money from abroad
Money from relatives abroad should come through an International Money Transfer Operator (IMTO) licensed by the CBN. The CBN publishes the list on its website; when we checked in October 2026 it had 108 entries. Your relative pays in their currency, and you receive Naira into a bank account, or, with some operators, cash at a bank or agent. What you receive depends on two things:
- The transfer fee shown to the sender.
- The exchange rate the operator applies, which can cost more than the fee. Ask the sender to compare the amount you will receive, not just the fee, on the day.
For detail by country see sending money to Nigeria from the UK and whether family abroad should send dollars or naira.
What to check first
- The recipient's account name: confirm it matches before you send.
- Your bank's current transfer charges in the app.
- For money from abroad, that the operator is on the CBN's IMTO list.
- Never send money to a "relative" whose new number or account came by text or WhatsApp without calling them first; see common scams in Aba.
Where Pryme fits
With a Pryme account you can send Naira to any Nigerian bank account. Relatives abroad can pay into your USD, GBP or EUR account details; the money stays in the currency it arrived in, and you Swap to Naira only when you choose, with the rate shown first and the fee on its own line. Outside Nigeria, these services are provided through regulated partners.
Questions people ask
What is the cheapest way to send money to my village?
A direct bank or app transfer to the recipient's account. Under the CBN's 2020 caps it costs at most ₦10, ₦25 or ₦50 depending on the amount, plus VAT.
How much do banks charge for transfer in Nigeria?
The 2020 CBN caps are ₦10 below ₦5,000, ₦25 for ₦5,000 to ₦50,000 and ₦50 above. A 2026 draft proposes free transfers up to ₦5,000; check your bank.
How can my family abroad send money to me in Aba?
Through a CBN-licensed IMTO into your bank account, or by cash pickup where the operator offers it. Compare the amount received, which includes the exchange rate.
What is the POS withdrawal limit per day?
₦100,000 per customer per day and ₦500,000 per week through agents, under the CBN's October 2025 agent banking guidelines.
Sources
- TechCabal: CBN exposure draft Guide to Charges 2026 (Apr 2026) · accessed Oct 2026
- UBA: Service Charges and Rates (Sept 2026 PDF) · accessed Oct 2026
- CBN: Circular and Guidelines for the Operations of Agent Banking in Nigeria (6 Oct 2025) · accessed Oct 2026
- CBN: International Money Transfer Operators (licensed list) · 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.