EUR to NGN exchange rate | Send money from Germany to Nigeria

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📈 Germany to Nigeria Money Transfer Snapshot Today

Best EUR to NGN exchange rate today: NGN 1,651.8252, offered by TalkRemit
Number of money transfer providers compared: 10
Exchange rate range: NGN 1,567.0127 to NGN 1,651.8252
Potential savings on EUR 1000: NGN 84,812.50
Number of deals and promo codes: 8
Mid-market^ⓘThe mid-market exchange rate (also called the interbank rate) is the real EUR to NGN exchange rate before providers add their margin or fees. exchange rate: 1 EUR = NGN 1,607.8106 (Updated about an hour ago)

See detailed Germany to Nigeria money transfer comparison below.

Money Transfer Providers that matched the search criteria

💡What today's EUR-NGN exchange rates mean for you

Compare today's EUR-NGN exchange rates and send money from Germany to Nigeria with confidence. View provider pricing, read detailed reviews, and discover current deals and promotional offers — all in one place.

We compared 10 providers serving this corridor today. Here is how the market looks like right now:

Today's Most Competitive Germany to Nigeria Providers

🥇 TalkRemit with 1 EUR = 1,651.8252 NGN (best EUR to NGN exchange rate today).

🥈 Dahabshiil offering 1 EUR = 1,631.6334 NGN.

🥉 Remitly & Profee are also pricing EUR-NGN competitively today.

EUR-NGN exchange rates fluctuate throughout the day, and top positions can change quickly. The best provider for a EUR 1000 transfer may not be the cheapest for larger amounts.

That's why comparing money transfer providers can significantly impact the final NGN received in Nigeria.

🔄 Looking for the reverse route? Send money from Nigeria to Germany instead.

Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Germany.

👇 Look beyond today's EUR-NGN exchange rate — historical pricing trends show how they can affect the overall transfer cost of your transfer.

Whilst the exchange rate matters, long-term pricing patterns show that exchange rate markup, transfer fees, and payment and delivery methods can significantly influence your final payout.

Below, we analyze Germany to Nigeria historical remittance data to help you understand where costs may arise and strategies to potentially maximize your NGN payout.

Data-driven cost insights for Germany to Nigeria money transfers

When you send money internationally from Germany to Nigeria, the key factors that will influence the overall cost of your transaction are:

EUR-NGN exchange rate
Transfer fee
Payment method
Delivery method

Ideally, you would want to optimize these 4 factors to try to get the maximum NGN payout for your overseas recipient in Nigeria.

Another counter-balancing aspect is money transfer speed. If you need to rush money from Germany to Nigeria, you may have to compromise on some or all of the above factors.

To put these factors into a better perspective with a data-driven approach, we have analyzed historical remittance pricing¹ for the Germany to Nigeria corridor, comparing total transfer costs, FX margins, fees, and payment and delivery methods across providers.

This historical analysis based on actual EUR-NGN transfer data could prove useful in identifying the lowest-cost funding options and payout combinations, thereby helping you reduce transfer costs and maximize the amount received.

Before we deep dive, here are the key trends from our analysis, summarized in an easy to read manner.

📌 Key insights for Germany to Nigeria money transfers

Typical total cost: 2.97% (range -58.92% to 29.66%, spread 88.58 pp)
Potential value difference: On a EUR 140 transfer, that spread can save you up to EUR 124.01.
FX markup (exchange rate margin): 0.18% (range -62.92% to 25.66%, spread 88.58 pp)
Average transfer fee: EUR 3.91 (range EUR 0.00 to EUR 19.90)
Cheapest payment/delivery method combo: Credit Card → Bank Deposit (-1.78% avg cost); most expensive is Cash → Cash Pickup (7.89%)
Method choice impact: Cheapest vs most expensive combo differs by about 9.66 percentage points.
Market coverage: ~10 active providers (competition level: moderate)
Typical speed: About 9 hours

What to do next: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.

Below, we provide various useful and detailed insights for Germany to Nigeria money transfers.

📈 EUR to NGN exchange rate markup can be the biggest hidden cost

The exchange rate on your Germany to Nigeria money transfers can often be the single biggest factor that will determine your overall EUR cost and your recipient's NGN payout.

To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market^ⓘThe mid-market exchange rate (also called the interbank rate) is the real EUR to NGN exchange rate before providers add their margin or fees. exchange rate and the exchange rate you receive.

Based on 414 pricing observations across 10 providers over the last 3 years (for a EUR 140 money transfer benchmark), we see the following exchange rate markup ranges for Euro to Nigeria transfers:

Average exchange rate markup: 0.18%
Median exchange rate markup: 1.00%
Lowest observed markup: -62.92%^ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts.
Highest observed markup: 25.66%

That is an FX markup spread of 88.58 percentage points between the lowest and highest observed exchange rate markups.

This spread is important because FX markup is not consistent across providers or payment methods. In other words, a "good deal" on one day or transfer amount can look very different on another.

For example, on a EUR 140 transfer, the above markup range is equivalent to roughly NGN 124.01 purely from differences in the exchange rate. That incremental saving can be NGN 305.60 for a EUR 345 transfer.

How to use this insight: When comparing providers for Germany to Nigeria international remittances, always compare the exchange rate you receive (not just fees). A small difference in the FX markup can outweigh fees quickly, and the impact typically grows as transfer amounts increase.

EUR to NGN exchange rate can be the single most critical cost determining factor for your transfer. When comparing providers, pay close attention to the rate you will get.

💰 Transfer fees influence your total Germany to Nigeria remittance cost

Whilst exchange rate is a major factor affecting total percentage cost, the transfer fee itself can also have a major impact on how much of your Euro amount actually reaches your recipient in Nigeria.

Based on 414 pricing observations across 10 providers over the last 3 years (EUR 140 benchmark), we notice the following fee patterns for Euro to Nigeria money transfers:

Average transfer fee: EUR 3.91
Median transfer fee: EUR 3.90
Lowest observed fee: EUR 0.00
Highest observed fee: EUR 19.90

On a EUR 140 transfer, the average fee amount of EUR 3.91 represents 2.79% of the total amount sent.

Looking at the overall fee variation, even if two providers provide similar exchange rates, a worst case transfer fee can reduce the final payout by EUR 19.90 on the same transfer amount.

For larger transfers, fixed fees generally become less significant as a percentage of the total amount. But for smaller transfers, fees can represent a substantial portion of total cost.

How to use this insight: For your next money transfer from Germany to Nigerian Naira, look for providers that provide lower (or even 0) fees.

One caveat to this, though, is something called the hidden fee. Some providers may hide their fees by providing lower exchange rates (referred to as a hidden fee), so you should also keep an eye on rates whilst paying attention to fees.

💸 Payment and delivery methods matter for EUR-NGN remittances

Based on our detailed analysis of historical pricing on the Germany to Nigeria corridor, we see meaningful variation in overall cost depending on the payment method and delivery method you choose.

Based on 414 pricing observations across 10 providers over the last 3 years (EUR 140 money transfer benchmark), the lowest-cost payment and delivery options consistently differ from the highest-cost ones.

For example, here is the average cost variation for popular payment methods used to send money to Nigeria from Germany:

Credit Card: 2.10%
Debit Card: 2.16%
Bank Account Transfer: 3.05%
Cash: 7.89%

That is a total spread of 5.79 percentage points.

This means that on a EUR 140 EUR-NGN transfer, you could save (or lose) up to EUR 8.11 simply by choosing from amongst the available payment methods.

The savings will only multiply for higher EUR amounts.

Similarly, here is the average cost of popular delivery methods used to send money to Nigeria:

Bank Deposit: -0.24%
Mobile Wallet: 3.29%
Cash Pickup: 4.99%

The difference between the above delivery methods is 5.22 percentage points.

Once again, this means that you could save up to EUR 7.31 on a EUR 140 transfer to Nigeria by choosing Bank Deposit versus Cash Pickup.

As you can imagine, the possible combinations of Germany payment methods and Nigeria delivery methods will all have disparate cost associated with them. Let us look at that next.

Here is a summary table that shows the average cost of payment and delivery method combinations for Germany to NGN money transfers.

Payment Method	Delivery Method	Avg cost (%)
Credit Card	Bank Deposit	-1.78
Debit Card	Bank Deposit	-1.17
Bank Account Transfer	Bank Deposit	2.58
Bank Account Transfer	Mobile Wallet	2.72
Credit Card	Mobile Wallet	3.55
Debit Card	Mobile Wallet	3.59
Bank Account Transfer	Cash Pickup	3.59
Debit Card	Cash Pickup	4.44
Credit Card	Cash Pickup	4.62
Cash	Cash Pickup	7.89

Combinations are sorted by average total cost % (cheapest to most expensive).

As you can see, the cost differential between these EUR-NGN payment and delivery options is significant. To put this in further perspective:

Credit Card → Bank Deposit has the lowest average cost at -1.78%.
Cash → Cash Pickup has the highest average cost at 7.89%.
Credit Card → Bank Deposit average cost is 9.66 percentage points lower than Cash → Cash Pickup.
This means that on a EUR 140 money transfer, you could save up to EUR 11.04 simply by choosing the best payment and delivery method combo.
Further, on a EUR 345 money transfer, the savings increase to EUR 27.20.

Here is a quick summary of the average historical cost of various payment and delivery methods for EUR to Nigeria money transfers.

💸 Cheapest payment and delivery methods (data-backed)

Cheapest payment method: Cost of Credit Card averaged 2.10%, compared to 7.89% for Cash, a difference of 5.79 percentage points.
Cheapest delivery method: Cost of Bank Deposit averaged -0.24%, compared to 4.99% for Cash Pickup (5.22 percentage points higher).
Cheapest combo: Cost of Credit Card → Bank Deposit averaged -1.78%, which is 9.66 percentage points lower than Cash → Cash Pickup (7.89%).

How to use this insight: As you compare money transfer providers for your next Germany to Nigeria international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.

This approach can help you avoid a common remittance pitfall of "cheap exchange rate, expensive methods" that can raise total cost even when the headline exchange rate looks attractive.

You can save money on your Germany to Nigeria remittances by carefully choosing the most economical payment and delivery methods.

📊 Does sending more reduce the cost of EUR-NGN money transfers?

To see if transfer cost varies based on the amount sent, we compared the average costs of sending EUR 140 vs EUR 345 from Germany to Nigeria.

We found that sending the higher amount (EUR 345) tends to be cheaper - average cost drops from 2.97% to 2.31%, a reduction of 0.66 percentage points.

It is possible that the cost may continue to drop for higher transfer amounts. That said, always check the latest exchange rates and fees for your transfer amount.

How to use this insight: Since it is generally cheaper to send higher Euro amounts to Nigeria, consider consolidating smaller, more frequent transfers into fewer, larger sends as doing so may reduce the total cost you pay.

🏛 How competitive is the Germany to Nigeria remittance market?

Based on 414 pricing observations over the last 3 years (EUR 140 money transfer benchmark), the EUR-NGN corridor is served by 10 active providers on an average.

With 10 providers serving this market, we consider the level of competition in this corridor to be moderate.

A corridor with more active providers is typically more competitive, which can translate into better pricing and more payment and delivery options for your Germany to Nigeria remittances.

⏱️ How fast are EUR-NGN money transfers?

Transfer speed can matter just as much as cost, especially when your recipient in Nigeria needs funds urgently.

Based on 414 historical pricing observations across 10 providers over the last 3 years (EUR 140 benchmark), here is what we see for Germany to Nigeria transfers:

Typical transfer time: About 9 hours.
Fastest transfer time: About less than 1 hour.
Slowest transfer time: About 96 hours (~4.0 days).
Average speed at EUR 140: About 9 hours.
Average speed at EUR 345: About 9 hours.

How to use this insight: If you need to send money from Germany to Nigeria in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed often varies by payout method (bank vs cash vs wallet) and local rails in Nigeria.

On the Germany to Nigeria corridor, delivery speed can vary across providers, so it is worth comparing transfer speed alongside total cost for time-sensitive money transfers.

Frequently Asked Questions about Germany to Nigeria money transfers

These FAQs use data from RemitFinder's historical analysis of Germany to Nigeria money transfers over several years.

What factors affect the total cost of sending money from Germany to Nigeria?

EUR-NGN exchange rate markup, transfer fees, payment method and delivery method all affect total cost.

The total cost of your EUR-NGN money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate markup applied, and any transfer fee charged by the provider. You can generally avoid overpaying by comparing various providers.

How much does the exchange rate markup affect Germany to Nigeria transfers?

EUR-NGN exchange rate markup can significantly affect your final payout.

Historical Euro to NGN FX markup ranges from -62.92% to 25.66%, a spread of 88.58 percentage points. As you can see, even small differences in the exchange rate markup can easily outweigh fees.

Can EUR-NGN exchange rate markup be negative?

Yes, negative markup can occur for Germany to Nigeria transfers, usually representing a promotional rate.

In some cases, providers may offer promotional exchange rates that are better than the mid-market rate, resulting in a negative EUR-NGN exchange rate markup. These offers are typically limited in size, eligibility, or duration. Compare providers to see if you can take advantage of such special offers.

Is the exchange rate or the fee more important for Germany to Nigeria transfers?

The exchange rate markup contributes more to pricing variation for EUR-NGN transfers (and that remains true at higher amounts).

Exchange rate markup ranges from -62.92% to 25.66% (a spread of 88.58 percentage points). Transfer fees range from EUR 0.00 to EUR 19.90, which equals roughly 14.21 percentage points of a EUR 140.00 transfer.

At both EUR 140.00 and EUR 345.00, the exchange rate markup shows larger variation than the other component.

But regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Germany to Nigeria transfers.

As the transfer amount increases, the % impact of fees often decreases (because the fee gets spread across a larger EUR amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.

For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate markup often becomes the bigger driver. Either way, comparing both helps you get the most NGN for your EUR.

How much can Germany to Nigeria transfer costs vary between providers?

Transfer costs can vary significantly depending on provider and method.

Historical transfer costs range from -58.92% to 29.66% for EUR transfers to Nigeria. That is a spread of 88.58 percentage points, meaning the difference between providers can be material.

A major contributor to this variation is exchange rate markup. Markup alone ranges from -62.92% to 25.66% (a spread of 88.58 percentage points). Even small differences in FX margin, therefore, can significantly change the final NGN payout.

Why does the same EUR transfer cost different amounts when sending NGN to Nigeria?

Payment method, delivery method, exchange rate markup, and fees all affect total EUR-NGN cost.

Costs vary because providers apply different Euro exchange rate markups, charge different transfer fees, and offer different payment and delivery methods. Even small differences amongst all these factors can significantly change the final payout in NGN in Nigeria.

How stable are transfer costs in the Germany to Nigeria corridor?

Money transfer costs can vary meaningfully across providers and methods in the Germany to Nigeria market.

When we analyzed the historical total cost for EUR-NGN transfers, we observed a range from -58.92% to 29.66% (88.58 percentage points), along with a variability (standard deviation) of about 8.20%.

A major driver of cost in this market is exchange rate markup. Markup ranges from -62.92% to 25.66% (88.58 percentage points), with a standard deviation of about 8.13%. Fees and method choices can contribute to further volatility.

This reinforces why comparing money transfer providers and their services can matter when it comes to getting the most of your EUR-NGN transfers.

Which payment method is cheapest for Germany to Nigeria remittances?

Credit Card is the cheapest payment method in Germany based on average cost.

Credit Card averages 2.10% of total cost compared to Cash at 7.89%, a difference of 5.79 percentage points.

Based on this, we recommend paying for your EUR transfer with Credit Card, and avoiding Cash if possible.

Is Debit Card cheaper than Credit Card for Germany to Nigeria transfers?

Credit Card is cheaper on average when sending money to Nigeria from Germany.

For EUR-NGN transfers, Debit Card funding averages 2.16% compared to 2.10% for Credit Card payments, a difference of 0.07 percentage points.

As a result, we recommend that you avoid paying for your transfer to Nigeria with a Credit Card.

Which delivery method is cheapest for EUR-NGN money transfers?

Bank Deposit is the cheapest delivery method in Nigeria on average.

Bank Deposit averages -0.24% total cost compared to Cash Pickup at 4.99%, a spread of 5.22 percentage points.

If your recipient in Nigeria can accept Bank Deposit, we recommend choose it as your preferred delivery option for EUR-NGN transfers.

Is Bank Deposit cheaper than Cash Pickup for Germany to Nigeria transfers?

Bank Deposit is cheaper on average for transfers to Nigeria.

For EUR transfers to Nigeria, Bank Deposit averages -0.24% versus 4.99% for Cash Pickup, a difference of 5.22 percentage points. To save more, consider choosing the cheapest delivery option for Nigeria.

What is the cheapest way to send money from Germany to Nigeria?

For EUR-NGN transfers, Credit Card → Bank Deposit has the lowest-cost combination on average.

We evaluated 10 payment and delivery method combinations in the Germany to Nigeria remittance market.

Based on historical averages, Credit Card → Bank Deposit costs about -1.78% on average. At the other end of the spectrum, Cash → Cash Pickup is the most expensive combination at about 7.89% on average.

The spread between the cheapest and most expensive method combinations is approximately 9.66 percentage points when sending EUR to Nigeria.

Money transfer providers tend to price payment and delivery methods for Germany to Nigeria remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your EUR-NGN transfers.

Does sending more money reduce the cost for Germany to Nigeria transfers?

Larger EUR-NGN transfers are cheaper as a percentage on average.

The cost of a EUR 140 transfer averages 2.97% as compared to 2.31% for a EUR 345 transfer, a difference of 0.66 percentage points.

Note that transfer cost can change quickly based on the EUR amount you send, so ensure to carefully compare providers.

How long does it take to send money from Germany to Nigeria?

Most EUR-NGN transfers complete in about 9 hours.

Based on our analysis, the average transfer time is 9 hours, with the fastest transfers completing in less than one hour and the slowest in 96 hours (~4.0 days).

Are instant transfers available from Germany to Nigeria?

Yes, some transfers to Nigeria from Germany can complete in less than one hour.

Historical data shows that certain providers can complete transfers in under one hour.

Note that the actual speed of your EUR-NGN transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.

How competitive is the Germany to Nigeria remittance market?

On an average, there have been 10 active providers facilitating EUR-NGN transfers.

Based on historical data, the competition level in Germany to Nigeria is considered moderate with 10 active providers.

Do I risk overpaying if I do not compare providers for Germany to Nigeria?

The difference between providers servicing Germany to Nigeria can be meaningful, especially as the EUR transfer amounts increase.

Historically, total EUR-NGN transfer cost has varied by about 88.58 percentage points. On a EUR 140 transfer, that can translate to roughly EUR 124.01 in savings.

EUR-NGN exchange rate markup also varies across providers. The average markup spread has been about 88.58 percentage points. On a EUR 140 transfer, that is roughly EUR 124.01 saved from FX alone.

Fees can also make a big difference in this market. The fee difference across providers has been about EUR 19.90 traditionally.

That is why comparing providers can materially change how much of the EUR you send does your recipient receive in Nigeria in Nigeria.

Latest EUR to NGN Conversion Rates

Here are some latest EUR to NGN (Euro to Nigerian Naira) exchange rates for popular conversion amounts*.

1 EUR	1,607.81 NGN
5 EUR	8,039.05 NGN
10 EUR	16,078.11 NGN
25 EUR	40,195.27 NGN
50 EUR	80,390.53 NGN
100 EUR	160,781.06 NGN
150 EUR	241,171.59 NGN
200 EUR	321,562.12 NGN
250 EUR	401,952.65 NGN
300 EUR	482,343.18 NGN
400 EUR	643,124.24 NGN
500 EUR	803,905.30 NGN
600 EUR	964,686.36 NGN
700 EUR	1,125,467.42 NGN
800 EUR	1,286,248.48 NGN
1000 EUR	1,607,810.60 NGN
1500 EUR	2,411,715.90 NGN
2000 EUR	3,215,621.20 NGN
2500 EUR	4,019,526.50 NGN
3000 EUR	4,823,431.80 NGN
4000 EUR	6,431,242.40 NGN
5000 EUR	8,039,053.00 NGN
10000 EUR	16,078,106.00 NGN
15000 EUR	24,117,159.00 NGN
20000 EUR	32,156,212.00 NGN
30000 EUR	48,234,318.00 NGN
40000 EUR	64,312,424.00 NGN
50000 EUR	80,390,530.00 NGN
100000 EUR	160,781,060.00 NGN

*Based on the Mid-market^ⓘThe mid-market exchange rate (also called the interbank rate) is the real EUR to NGN exchange rate before providers add their margin or fees. Exchange Rate. Actual payout may vary based on the chosen money transfer provider.

Other popular countries to send money from Germany

¹ Based on 414 pricing observations across 10 firms over the last 3 years for a EUR 140 money transfer from Germany to Nigeria. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.

How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the Germany to Nigeria remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.

Compare today's EUR to NGN (Euro to Nigerian Naira) exchange rates