🇨🇦→🇳🇬
Send Money from Canada to Nigeria
Businesses in Canada paying Nigeria suppliers for Oil & Gas. Send CAD from Canada, receive NGN in Nigeria with t+0 (2.3s avg within unicorn network).
✓ Competitive Advantage: Local CAD collection + local NGN delivery = no correspondent bank fees
Save £3,535 per £100k Payment
Canada to Nigeria corridor savings
Traditional Bank
£4,040
- ❌ 2-3 day settlement
- ❌ Multiple correspondent banks
- ❌ Hidden FX margins
- ❌ High SWIFT fees
Unicorn Currencies
£505
- ✓ T+0 (2.3s avg within Unicorn network)
- ✓ Local CAD collection
- ✓ Transparent 0.5% spread
- ✓ NIBSS Instant Payment (NIP)
Your Savings
87%
£3,535 per £100k
At £300k-£3M monthly, save £8,846/year
Sending from Canada: What You Need to Know
CAD Origin Specifics
- CAD commodity currency (tracks oil/resources)
- Interac e-Transfer for fast payments
- FINTRAC oversight
Your Local Advantages
- Local CAD account available
- EFT (Electronic Funds Transfer) instant collection
- No correspondent bank fees on origin side
Local Collection Method
EFT (Electronic Funds Transfer)
T+1 to T+3 • Canadian domestic bank transfers. Standard clearing.
Paying Suppliers in Nigeria: Compliance & Requirements
Regulatory Considerations
- Central Bank of Nigeria (CBN) foreign exchange regulations
- Form M (Import documentation) required for imports
- Treasury Single Account (TSA) compliance for government payments
- SWIFT code verification critical for international transfers
Payment Best Practices
- Use NIP for instant settlement - avoid SWIFT delays
- Nigeria = Africa's largest economy, growing trade hub
- Multiple exchange rates exist - ensure you get interbank rate
- Oil & gas payments require enhanced due diligence
Destination Settlement
T+0 (2.3s avg within Unicorn network)
via NIBSS Instant Payment (NIP)
Canada → Nigeria Corridor Insights
Popular Industries
- Oil & Gas
- Agriculture
- Manufacturing
Peak Trading Hours
EST/PST (GMT-5/-8) to GMT time zone consideration
Best for rate execution and faster settlement
Typical Volume
£50k-£250k
Average transaction size for this corridor
Monthly volume: £300k-£3M
Compliance Notice: Subject to sanctions and compliance screening. Certain industries and countries not supported.
Ready to Send CAD from Canada to Nigeria?
Save 87% on every payment with t+0 (2.3s avg within unicorn network). Local CAD collection available.
Bank of Canada registered PSP | FINTRAC licensed MSB