Question 1

What is the best way to send money from Canada to Nigeria?

Accepted Answer

Today, Instarem delivers the highest amount — ₦10,03,874 for every CA$1,000 sent, at a rate of 1003.8742 NGN per CAD. Compare every provider's true cost (rate plus fee) above before deciding.

Question 2

What is today's CAD to NGN exchange rate?

Accepted Answer

The mid-market rate right now is approximately 1 CAD = 1010.4900 NGN. This is the rate banks use among themselves — providers add a margin on top, which is why the rate you actually get is lower.

Question 3

How much does it cost to send CA$1,000 to Nigeria?

Accepted Answer

Costs vary significantly. The best provider (Instarem) gives you ₦10,03,874 after fees. The worst (Wise) only gives you ₦10,01,679. That's a difference of ₦2,196 on a single CA$1,000 transfer.

Question 4

How long do transfers take?

Accepted Answer

Speed varies by provider and payment method. Instarem typically completes in same day. Cash pickup networks like MoneyGram, Western Union and Xoom are usually fastest (minutes). Bank wires and ACH transfers can take 1–3 business days.

Question 5

Are there taxes on sending money to Nigeria?

Accepted Answer

In most cases, sending money internationally is not taxable for the sender. However, large transfers (typically over $10,000 USD or equivalent) may require reporting to financial authorities such as FinCEN in the US or HMRC in the UK. The recipient country may have its own rules. Always check with a tax professional for your situation.

Provider	Fee	Rate	Recipient gets	Speed
1 InstaremBest value	Free	1003.87	₦10,03,874	Same day	Send
2 Wise	CAD 8.72	1010.49	₦10,01,679	Within hours	Send

Send Money from Canada to Nigeria — Best CAD/NGN Rates

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