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The short answer
A bank or app transfer is usually the cheapest way to send money from Jos to anywhere in Nigeria: bank fees for transfers to other banks are typically small fixed amounts by band, and from 1 January 2026 the sender pays a ₦50 stamp duty on electronic transfers of ₦10,000 or more. Cash through a POS agent costs more and carries limits. Money from abroad should come through a CBN-licensed international money transfer operator (IMTO) or a bank, paid into a Nigerian account.
Whether you are a trader in Terminus paying a supplier in Kano, a student at UNIJOS receiving upkeep from Abuja, or a family in Bukuru receiving support from relatives in the UK, the cost of moving money adds up over a year. This guide compares the main routes and the checks that keep your money safe.
Bank and app transfers within Nigeria
Almost all instant transfers between Nigerian banks and licensed fintechs run on the NIBSS Instant Payment (NIP) system. NIBSS says the system lets the sending bank check the beneficiary's name by account number before money moves, and funds are available in real time. Fees are set by each institution under CBN guidance.
What banks charge: one published example
UBA's service charge schedule (file dated September 2026) lists these fees for app and internet banking transfers to other banks, plus 7.5% VAT. Other banks publish their own tables; many fintech apps charge less or nothing.
| Amount sent | UBA fee to other banks | Plus VAT (7.5%) | Total |
|---|---|---|---|
| Up to ₦5,000 | ₦10 | ₦0.75 | ₦10.75 |
| ₦5,001 to ₦50,000 | ₦25 | ₦1.88 | ₦26.88 |
| Above ₦50,000 | ₦50 | ₦3.75 | ₦53.75 |
The ₦50 stamp duty
Under the Nigeria Tax Act 2025, from 1 January 2026 the old electronic money transfer levy was replaced by a ₦50 stamp duty on electronic transfers of ₦10,000 or more, paid by the sender instead of the receiver, as reported by Techeconomy. Transfers below ₦10,000, salary payments and transfers between your own accounts at the same bank are exempt.
Worked example: monthly support to family
Example only. A civil servant in Jos sends ₦60,000 to her mother in Makurdi each month through a bank charging the UBA rates above. Each transfer costs ₦53.75 + ₦50 stamp duty = ₦103.75. Over a year that is ₦1,245. Splitting it into six ₦9,999 transfers would avoid stamp duty but cost 6 × ₦26.88 = ₦161.28 in fees each month, far more. One transfer is cheaper.
Cash through POS agents
If the person receiving has no account or phone banking, a POS agent can pay out cash. The agent sets its own charge, which is usually much higher than a transfer fee. The CBN circular of December 2024 caps cash-out through agents at ₦100,000 per customer per day and ₦500,000 per week, so large sums cannot be withdrawn in one go. Always count cash at the stand and get a slip with the transaction reference.
Our guide to POS businesses in Jos explains how agents price their service.
Receiving money from abroad
International transfers into Nigeria are paid out by banks and CBN-licensed International Money Transfer Operators. The CBN publishes the list of licensed IMTOs on its website, with over 100 operators when we checked in October 2026. Before your relative sends, check that the service they use appears on that list. Money can be paid into a naira account, a domiciliary account or as cash pickup, depending on the operator.
- Compare the exchange rate as well as the fee: a low fee with a weak rate costs more.
- Use your full name exactly as it appears on your BVN-linked account.
- Never pay a fee to "release" a transfer; that is a common scam.
See the real cost of sending money to Nigeria and CBN rules on how remittances are paid out.
Choosing the right route
| Situation | Usual best route | Watch out for |
|---|---|---|
| Paying a supplier or family member with a bank account | App or bank transfer | Confirm the account name; add stamp duty from ₦10,000 |
| Recipient has no account, needs cash | Transfer to a trusted POS agent near them | Agent charges and daily cash-out limits |
| Poor data signal | Your bank's USSD code | USSD session charges and lower limits |
| Family abroad sending to you | Bank or CBN-licensed IMTO into your account | Exchange rate as well as the fee |
If you send to the same people every month, a scheduled transfer in your bank or app saves time and avoids late payments. Check your daily transfer limit too: banks set lower limits on USSD and on accounts with basic KYC, and a large payment to a supplier may need an upgraded account.
Safety checks before you send
- Confirm the account name the app shows before you approve.
- For a new supplier, call them on a number you already know to confirm the account.
- Never send money to "release" a prize, job or loan.
- If a transfer fails but you are debited, report it to your bank at once with the reference.
Our Jos scams guide covers fake alerts and impersonation.
Where Pryme fits
With Pryme Send you can pay any Nigerian bank account and see the cost before you approve. Family abroad can pay into your Pryme account's USD, GBP or EUR details; money stays in the currency it arrived in until you choose to Swap, with the rate and fee shown first.
Questions people ask
What is the cheapest way to send money from Jos?
A bank or app transfer. Fees to other banks are small banded amounts at many banks, and some apps charge nothing; add ₦50 stamp duty if you send ₦10,000 or more.
Who pays the ₦50 stamp duty on transfers?
From 1 January 2026 the sender pays it, on electronic transfers of ₦10,000 or more.
How much can I withdraw at a POS in a day?
The CBN's December 2024 circular caps cash-out through agents at ₦100,000 per customer per day and ₦500,000 per week.
How do I receive money from abroad in Jos?
Ask the sender to use a bank or an IMTO on the CBN's licensed list, paying into your Nigerian account or for cash pickup.
Sources
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 Jan 2026) · accessed Oct 2026
- UBA: Service charges and rates (Sept 2026) · accessed Oct 2026
- NIBSS: NIBSS Instant Payment · accessed Oct 2026
- CBN: International Money Transfer Operators · 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.