Question 1

What's the best way to send money to Nigeria from Libya?

Accepted Answer

With the global remittance market booming, there are so many choices for Libyan Dinar to NGN money transfers. To make it even more complicated, new Fintech companies keep entering the space, making it harder for remitters to decide which company to choose to send money overseas.

Our money transfer comparison engine does all the hard work for you by searching and comparing numerous companies that specialize in foreign exchange transactions, and picking the best ones for sending money to Nigeria from Libya. This way, you do not have to manually search and compare these companies which is very time consuming. All remittance companies on our platform are established, secure providers that our expert team has selected.

We also provide you with attractive deals and promotions from our partners; these offers help you further maximize the final NGN amount that your recipient gets. We, along with our partners, work hard to provide you with the best discounts and offers that you can use when you send money internationally.

Question 2

How to get the best exchange rate for sending money from Libya to Nigeria?

Accepted Answer

One of the key factors in getting the best rate for your next money transfer is awareness of what your choices are. With so many remittance service providers out there, you would want to choose the one that suits your needs best for sending money to Nigeria.

The RemitFinder comparison platform compares several forex service providers so you can get the maximum return on your Libya to Nigeria transfer. Simply search for your countries and inspect various options in one place. This will allow you to decide which company is the most appropriate one for you.

You may also want to sign up for our free exchange rate alert for your LYD to Nigerian Naira money transfers. This way, you can get notified of the best rates on a daily basis, and send money when rates are higher.

Question 3

What's the cheapest way to send money from Libya to Nigeria?

Accepted Answer

The final amount your recipient gets when you send LYD to NGN is the most important number that matters. In other words, you should try to minimize the impact of fees and other hidden charges (bad exchange rate is one of them) to achieve the most cost effective cross border remittance.

Before the dawn of the modern internet era, traditional methods to send money from Libya to Nigeria used to be banks, and small, local remittance players located in retail outlets and convenience stores. Unfortunately, all these options entail high fees and often provide low exchange rates - this results in an expensive money transfer whereby a big chunk of your hard earned money does not reach your recipient.

A great way to find the cheapest options to send Nigerian Naira is by comparing numerous foreign exchange operators and service providers on RemitFinder. By eliminating the process of manually searching and comparing various companies, you can easily compare all your options in one place, thereby saving time and money. This way, you can get the best Libyan Dinar to Nigeria exchange rate. Further savings can be realized by utilizing many exclusive offers and promotions from our partners. These deals can help lower the cost of a money transfer even more, thereby giving you a higher return.

Question 4

How to send money to Nigeria from Libya through a bank?

Accepted Answer

Bank transfers have been a traditionally popular way to send money overseas from Libya to Nigeria. But, with the explosion of so many Fintech startups specializing in remittances, it is worth asking yourself if you should still be using your bank for sending funds internationally.

In general, banks tend to charge much higher fees compared to newer remittance companies that specialize in online operations. It is also possible that the LYD to NGN exchange rate you get from your bank may not be the best. In fact, high fees and below par exchange rates are two of the most popular ways banks make money on remittances.

We, therefore, recommend that before you use your Libya bank for your Nigeria money transfers, you explore various other options to carefully review your total cost (represented by transaction fees) as well as the exchange rate you will get. Combined, these two factors will have a direct impact on how much money your recipient gets from your transaction.

Question 5

What is the fastest way to transfer money from Libya to Nigeria?

Accepted Answer

If you need to convert LYD to NGN as fast as possible, there are definite steps you can take that will help you do so. You could pay for your transfer with cash, as well as have your recipient do a cash pickup for payout - both of these methods will speed up your money transfer.

That said, handling cash could be a safety issue given that both the sender and receiver have to physically carry cash (most agent locations are located in physical stores, malls, and retail outlets which may or may not be in a physically safer area). Additionally, due to the extra costs involved to set up and maintain physical locations, cash transactions tend to get a worse foresign exchange rate (contrasted with online/digital transfers). So, another option to move money quickly from Libya to Nigeria could be sending it to a mobile wallet. This would entail some slowness compared to cash transfers, but would be more safe.

Apart from the above, there are many other factors that can have an impact on your Libyan Dinar to Nigerian Naira funds transfer speed. To arm you with all the knowledge you need to distinguish faster from slower remittance providers, we crafted a complete guide to remittances; this article touches upon everything you need to know to make the fastest money transfers to Nigeria.

With so many choices available, make sure to compare various forex operators that enable you to remit money from Libya to Nigeria. Once you understand their services and the factors that affect how fast your money can be transferred overseas, you will be able to minimize the time your money is in transit.

Question 6

Which are the best money transfer companies to send money to Nigeria from Libya?

Accepted Answer

The first step in selecting the best money transfer operators for Libya to Nigeria remittances is to have a list of potential companies that you could use. You can rely on RemitFinder for giving you several good options to start with. Simply give us your sending and receiving countries, and we will present numerous providers for you to easily compare.

The next part in deciding which provider to go with would depend on what you are looking for. There are many parameters on which these companies can be compared against each other, and it all depends on your preferences. For example, are you looking for low or 0 fees, the highest rate, quick transfer speed, etc.

Another factor that may help you decide which provider to go with would be any coupons and deals available for Libyan Dinar to Nigerian Naira money transfers. Availing promotions is a sure shot way to help reduce your cost, and should be part of the criteria to decide which are your top candidates for sending money to Nigeria.

Question 7

Step by step guide to transfer money to Nigeria from Libya

Accepted Answer

There are many important aspects of Libya to Nigeria remittances that will impact the yield you get. The most important one is the selection of the best money transfer company. For this, you can rely on RemitFinder's expertise in searching and comparing many global companies to present you many options in one simple, easy to understand view.

Once you have honed down on the company you want to go with, the below step by step tutorial will help you execute your transfer in an effective manner.

Step 1 - Create your account with the chosen remittance company. Please be aware that you will likely be asked for identification documents and personal information. This is an important step for the company to ensure that you are a genuine person and ensure you comply with various legal regulations like anti money laundering.
Step 2 - Provision the manner in which you will fund your remittance transaction. The forex company may accept payment in multiple ways - Libya bank account, credit and debit cards, and sometimes even cash that you can pay with by walking into a branch or outlet.
Step 3 - Similar to the previous step, also provision the manner in which the receiver will access the funds. The most common delivery methods include NGN bank deposit, cash pick up in a physical provider location or agent's office, mobile wallet credit and mobile airtime popup.
Step 4 - Provision recipient details including name and address.
Step 5 - Decide how much Libyan Dinar amount you want to send from Libya.
Step 6 - Optionally, check if there are any deals or promotions going on. You can rely on RemitFinder to provide you this information. Discounts help you save even more, so be sure to use one if available.
Step 7 - Validate all the information for accuracy and start your transaction.

From this point on, the remittance company will keep you posted on the progress of your transaction. Be sure to check with your recipient in Nigeria to validate that they get the money once the transaction clears.

1 LYD	217.09 NGN
5 LYD	1,085.46 NGN
10 LYD	2,170.91 NGN
25 LYD	5,427.28 NGN
50 LYD	10,854.56 NGN
100 LYD	21,709.12 NGN
150 LYD	32,563.68 NGN
200 LYD	43,418.24 NGN
250 LYD	54,272.80 NGN
300 LYD	65,127.36 NGN
400 LYD	86,836.48 NGN
500 LYD	108,545.60 NGN
600 LYD	130,254.72 NGN
700 LYD	151,963.84 NGN
800 LYD	173,672.96 NGN
1000 LYD	217,091.20 NGN
1500 LYD	325,636.80 NGN
2000 LYD	434,182.40 NGN
2500 LYD	542,728.00 NGN
3000 LYD	651,273.60 NGN
4000 LYD	868,364.80 NGN
5000 LYD	1,085,456.00 NGN
10000 LYD	2,170,912.00 NGN
15000 LYD	3,256,368.00 NGN
20000 LYD	4,341,824.00 NGN
30000 LYD	6,512,736.00 NGN
40000 LYD	8,683,648.00 NGN
50000 LYD	10,854,560.00 NGN
100000 LYD	21,709,120.00 NGN

Compare today's LYD to NGN (Libyan Dinar to Nigerian Naira) exchange rates

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

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