How to Send Money From Nigeria to the UK Fast and Securely

When you send money, especially out of Nigeria, the entire process is such a hassle. You’d have to fill forms, wait in long bank account queues and stress over hidden charges, but now, things are different.

With the exchange rate fluctuating, regulations evolving, and fintechs stepping up, people everywhere now expect almost instant transfers. Today, we’ll talk about how sending money from Nigeria to the UK used to operate, what has changed recently, why those changes matter, and how Yolat is leveraging them so you don’t pay extra or wait too long. 

How Transfers Used to Work

Back in those not-too-distant days, sending money from Nigeria to the UK felt almost borderline stressful and impossible. Let me break down the usual frustrations:

Bank and paperwork-heavy 

Back then, if you wanted to send money to the UK, you would have to go through a Nigerian bank or Western Union typically. That meant filling forms, providing your ID, maybe even chasing KYC stuff for days, then letting banks internally convert your money, then sending via SWIFT, which could cost days. 

High and hidden fees

There were so many fees involved when it came to sending money from bank processing fees to transfer fees, and sometimes even unexpected charges at the receiving UK bank. Many people found out after the transfer just how much got eaten up in fees.

Slow delivery

Because of manual verification, banking holidays, and forex availability issues, money sometimes took multiple business days to reach UK accounts. You never really knew when it would arrive, especially if the amount was large or if there was extra review.

Uncertainty and poor visibility
Once you initiate a transfer, tracking is patchy. There was no app to track the progress of your transfer, and if you wanted to follow up, you’d have to walk into the bank. This meant sometimes family or vendors would wait, and you’d have to send extra proof or wait for a confirmation email or call.

Regulatory and forex policy constraints

The Central Bank of Nigeria’s (CBN) rules, foreign exchange market chaos, limits on USD/GBP availability, and restrictions on sending abroad also played a role. Some transfers were delayed because foreign exchange was unavailable at the official window; others were delayed due to regulations requiring specific documentation. 

What’s Changed?

With the emergence of various remittance platforms, you can send money today very easily. Some of those previous pain points and frustrations have now been addressed. So here’s what’s different lately and why it matters for anyone sending money from Nigeria to the UK:

Regulatory reforms & better guidelines
The Central Bank of Nigeria (CBN) has updated rules for how international transfers via IMTOs are paid out. For example, transfers into Nigeria (from abroad) via Western Union, MoneyGram, etc., must be paid in naira. And this also means clarity in what recipients expect.

Better fintech solutions and competition
New players, like Yolat, and existing ones are now pushing for more transparency, and this involves giving a clear upfront fee, showing you the rate you’ll get before you confirm, and sometimes offering near instant transfers. Nobody wants to wait 3–5 business days if they can avoid it. 

More options for currencies

Apart from sending money to someone in the UK or the USA, there are now various countries available to be able to send money to. And now fintechs are offering more flexibility: send in one currency, get payout in another.

User expectations rising

Nigerians are tired of vague “transfer in 1-3 days” promises. We check online reviews; we compare apps; we want live rate trackers and customer support that answers. That pressure forces services to improve UX, clarity, and speed.

More digital/mobile compatibility
Less bank branch dependency, more apps, more mobile wallets, better verification via app upload rather than going into a bank. Plus, KYC processes are faster with better digital identity tools.

How to Send Money To the UK Using Yolat: Step-by-Step Guide

So, let’s say you’re in Lagos (or anywhere in Nigeria), you want to send money to your friend or family in London, Hull, Manchester, etc. Here’s how to do it using Yolat. 

1. Download & Register

• Get the Yolat app from your phone’s app store (iOS or Android).
• Register using your email/phone number. Upload required identity documents for KYC. This part takes a bit of time the first time, but it gets smoother afterward.
  

2. Funding Your Transfer in Naira

• Link your Nigerian bank account or use a debit card.
• Choose the amount in Naira (NGN) you want to send. Yolat will show you the exchange rate (NGN → GBP), plus fees. You’ll also see how many pounds the receiver in the UK will get.

3. Specify Recipient Details

• Enter the UK bank account details of the recipient 
• At this stage, the app shows you the final GBP amount, the fees, and the rate used.

4. Tracking & Confirmation

• After sending, you’ll get a transaction ID. You can monitor progress in the app. 
• UK recipient may be notified (depending on payout method) or can check their bank.

Conclusion

So, sending money from Nigeria to the UK has changed. With new regulations, fintech innovations, better expectations, and smarter tools, you can do it faster, with more clarity, and not lose half the value in the process.

If you have to send pounds to the UK—whether for school fees, family support, rent, gifts—make sure you do it knowing how much it’ll cost you, how long it’ll take, and that your recipient will receive what you planned. Yolat gives you that insight, that control.

To get started, simply download the Yolat app on the App Store or Play Store.