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The short answer
From Kaduna the cheapest way to send money to anyone in Nigeria is an app or USSD bank transfer: under the CBN charge guide still in use, interbank transfers cost no more than ₦50 each, and a ₦50 stamp duty applies to transfers of ₦10,000 or more. Cash sent through a POS agent costs more because the agent adds a charge, and money from abroad must now be paid out in naira by a CBN-licensed money transfer operator.
Many households in Kaduna support relatives elsewhere in the state, in villages across the north, or in other cities, and many also receive money from children working abroad. The cost of each transfer looks small, but if you send every week it adds up, and the wrong channel can cost far more than it needs to. This guide compares the main options and the checks that keep money safe.
Bank transfers: the cheapest option
If both you and the recipient have bank or mobile money accounts, an app, internet banking or USSD transfer is almost always cheapest. Bank charges follow the CBN's Guide to Charges. The 2020 guide, still the reference while the 2026 revision was in draft as at October 2026, sets interbank electronic transfer fees at:
| Amount sent | Current CBN guide (2020) | Proposed in 2026 draft |
|---|---|---|
| Below ₦5,000 | ₦10 | Free |
| ₦5,000 – ₦50,000 | ₦25 | ₦10 |
| Above ₦50,000 | ₦50 | ₦50 cap |
The 2026 draft was published for comment in April 2026 with no effective date stated, so check your bank's current fee in its app. Some banks and fintechs charge less than the maximum or offer free transfers. On top of the transfer fee, since 1 January 2026 a ₦50 stamp duty is deducted from the sender on electronic transfers of ₦10,000 or more. It replaced the old electronic money transfer levy, which was charged to the receiver.
A worked example
Example: you send your mother ₦40,000 a month. Sent once by app transfer, the cost is ₦25 (fee) + ₦50 (stamp duty) = ₦75. Sent as four weekly transfers of ₦10,000, each costs ₦25 + ₦50 = ₦75, so the month costs ₦300. Sending one larger amount saves ₦225 a month, or ₦2,700 a year. If you split it into transfers below ₦10,000, the stamp duty does not apply, but each still carries a transfer fee.
POS agents: when the recipient has no account
If a relative has no bank account, you can transfer to a POS agent in their town who pays them cash, or deposit cash with an agent in Kaduna. The CBN's agent banking guidelines cap cash-in and cash-out at ₦100,000 per customer per day and ₦500,000 per week, and agents must display their charges and give a receipt for every transaction. The agent's own charge is set locally and is usually far higher than a bank transfer fee. If you use agents regularly, it may be cheaper to help the relative open a basic account; many can be opened with a phone and a BVN or NIN.
Mobile money and payment service banks
Relatives in villages without a bank branch can often receive money in a mobile wallet or a payment service bank account linked to their phone number, then cash out at a nearby agent. Transfers into these accounts from a bank app follow the same fee and stamp duty rules as other electronic transfers. The cash-out charge is the agent's, so ask what the agent nearest the recipient charges before choosing this route. For regular support, it is worth setting the amount and day in advance so the recipient can plan, and keeping a simple record of what you sent in case of disputes within the family.
Receiving money from abroad
Money sent from the UK, US, Europe and elsewhere reaches Kaduna through banks or licensed International Money Transfer Operators (IMTOs). The CBN publishes the list of IMTOs it has licensed; check that the service your relative uses is on it. From 1 May 2026, under a CBN directive, IMTOs must pay inbound personal remittances in naira only, at market-referenced rates; the old choice of dollar cash or a dollar credit to a domiciliary account was removed for these transfers, and larger payouts go to a bank account rather than as cash.
- Ask the sender to compare the total cost: the fee plus the exchange rate margin, not just the fee.
- Use the exact name on your bank account to avoid delays.
- Never pay a "release fee" to receive a transfer; that is a scam. See money transfer scams.
- Do not share OTPs or PINs with anyone claiming to process the payment.
For the sender's side, see the real cost of sending money to Nigeria and sending from the UK.
What to check first
- The recipient's account number and name, confirmed on the transfer screen before you approve.
- Your bank's current transfer fee, shown in the app.
- Whether one larger transfer is cheaper than several small ones.
- For agents, the charge agreed before you pay, and a receipt.
- For money from abroad, that the provider is on the CBN's IMTO list.
Where Pryme fits
A Pryme Personal Account holds naira, dollars, pounds and euros, each with local account details, and money stays in the currency it arrived in until you choose to convert with Swap, where the rate and fee are shown before you approve; see multicurrency, Swap and sending money.
Questions people ask
What is the cheapest way to send money from Kaduna?
An app or USSD bank transfer. Under the current CBN guide interbank fees are at most ₦50, plus ₦50 stamp duty on transfers of ₦10,000 or more.
How much is stamp duty on transfers in Nigeria?
Since 1 January 2026, ₦50 is deducted from the sender on electronic transfers of ₦10,000 or more.
Can I receive dollars from abroad in Kaduna?
Since 1 May 2026, licensed money transfer operators must pay inbound personal remittances in naira. Funds sent bank-to-bank may be treated differently; ask your bank.
How much can a POS agent pay out per day?
Under CBN rules, ₦100,000 per customer per day and ₦500,000 per week.
Sources
- TechCabal: CBN draft Guide to Charges 2026 · accessed Oct 2026
- Techeconomy: stamp duty replaces EMTL, sender to bear ₦50 charge on transfers · accessed Oct 2026
- CBN: Circular and Guidelines for the Operations of Agent Banking in Nigeria (Oct 2025) · accessed Oct 2026
- Techeconomy: what the CBN naira-only remittance policy means (28 Mar 2026) · accessed Oct 2026
- CBN: International Money Transfer Operators · 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.