Compare today's NGN to XOF (Nigerian Naira to CFA Franc BCEAO) exchange rates
📈 Nigeria to Togo Money Transfer Snapshot Today
- Best NGN to XOF exchange rate today: XOF 0.4153, offered by Verto
- Number of money transfer providers compared: 1
- Number of deals and promo codes: 0
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real NGN to XOF exchange rate before providers add their margin or fees. exchange rate: 1 NGN = XOF 0.4200 (Updated about 1 hours ago)
See detailed Nigeria to Togo money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 B2B transfers only
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's NGN-XOF exchange rates mean for you
Compare today's NGN-XOF exchange rates and send money from Nigeria to Togo after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 1 provider that you can rely on for Nigeria to Togo money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive Nigeria to Togo Providers
🥇 Verto with 1 NGN = 0.4153 XOF (best NGN to XOF exchange rate today).
NGN-XOF exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final XOF payout that your recipient gets in Togo.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your Nigeria to Togo remittances.
🔄 Looking for the reverse corridor? Send money from Togo to Nigeria 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 Nigeria.
👇 We also suggest looking beyond today's NGN-XOF exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst NGN-XOF exchange rate is crucial, historical data shows that transfer fees, NGN amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze Nigeria to Togo historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your XOF payout.
Data-driven cost insights for Nigeria to Togo money transfers
When you send money internationally from Nigeria to Togo, the key factors that will influence the overall cost of your transaction are:
- NGN-XOF exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum XOF payout for your overseas recipient in Togo.
Another counter-balancing aspect is money transfer speed. If you need to rush money from Nigeria to Togo, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for Nigeria to Togo money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 42 actual Nigeria to Togo money transfers handled by 3 providers over the last 5 years (for a NGN 40000 remittance benchmark).
This data-driven approach using real NGN-XOF transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for Nigeria to Togo money transfers
- Average total cost: 15.45% (range 2.10% to 37.50%, spread 35.40 percentage points)
- Potential payout difference: On a NGN 40000 transfer, the above variation can save you up to NGN 14,160.00.
- Average FX markup: 1.84% (range -2.61%
ⓘ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. to 24.28%, spread 26.89 percentage points) - Average transfer fee: NGN 5,442.49 (range NGN 840.00 to NGN 15,000.00)
- Cheapest payment/delivery method combo: Cash → Bank Deposit (3.15% avg cost); most expensive is Bank Account Transfer → Cash Pickup (16.95%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 13.80% (NGN 5,519.00 on NGN 40000 transfer).
- Market coverage: ~3 providers on average (competition level: limited)
- Average speed: About less than 1 hour
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your Nigeria to Togo money transfers.
📈 NGN to XOF exchange rate is often the biggest driver of both cost and payout
The exchange rate on your Nigeria to Togo money transfers is usually the single biggest factor that will determine your overall NGN cost and your recipient's XOF 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 exchange rate
Based on historical pricing data for a NGN 40000 money transfer benchmark, we see the following FX markup ranges for Nigerian Naira to Togo transfers:
- Average markup: 1.84%
- Median markup: 0.28%
- Lowest markup: -2.61%
ⓘ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 markup: 24.28%
That is a spread of 26.89 percentage points between the lowest and highest observed FX markups.
To put this into perspective, on a NGN 40000 transfer, the above markup range is equivalent to roughly XOF 10,756.00 purely from differences in the exchange rate. That incremental saving increases to XOF 26,890.00 for a NGN 100000 transfer.
🛠️ How to use this insight: When comparing providers for Nigeria to Togo remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
NGN to XOF exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total Nigeria to Togo remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your Nigerian Naira reaches your recipient in Togo.
Based on data from last 5 years, we notice the below about Nigerian Naira to Togo money transfer fees:
- Average fee: NGN 5,442.49
- Median fee: NGN 4,085.00
- Lowest fee: NGN 840.00
- Highest fee: NGN 15,000.00
The average fee amount of NGN 5,442.49 noted above represents 13.61% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by NGN 14,160.00.
🛠️ How to use this insight: For your next money transfer from Nigeria to CFA Franc BCEAO, 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 real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for NGN-XOF remittances
Based on our detailed analysis of historical Nigeria to Togo data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to Togo from Nigeria:
- Cash: 15.45%
- Bank Account Transfer: 16.95%
That is a total spread of 1.50 percentage points.
This means that on a NGN 40000 transfer, you could save up to NGN 600.80 simply by choosing the best priced payment method.
These savings will only multiply for higher NGN amounts.
Here is the average cost of popular delivery methods used to send money from Nigeria to Togo:
- Bank Deposit: 3.15%
- Cash Pickup: 16.39%
The cost difference between the above delivery methods is 13.24 percentage points.
Once again, this means that you could save up to NGN 5,296.52 on a NGN 40000 transfer to Togo by choosing Bank Deposit versus Cash Pickup.
As you can imagine, the possible combinations of Nigeria payment methods and Togo delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for Nigeria to XOF money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Cash | Bank Deposit | 3.15 |
| Cash | Cash Pickup | 16.39 |
| Bank Account Transfer | Cash Pickup | 16.95 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these NGN-XOF payment and delivery options is significant. Here are some observations:
- Cash → Bank Deposit has the lowest average cost at 3.15%.
- Bank Account Transfer → Cash Pickup has the highest average cost at 16.95%.
- Cash → Bank Deposit average cost is 13.80 percentage points lower than that of Bank Account Transfer → Cash Pickup.
- This means that on a NGN 40000 money transfer, you could save up to NGN 6,779.00 simply by choosing the best payment and delivery method combo.
- Further, on a NGN 100000 money transfer, the savings increase to NGN 16,947.50.
Here is a quick summary of the average historical cost of various payment and delivery methods for NGN to Togo money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Cash averaged 15.45%, compared to 16.95% for Bank Account Transfer, a difference of 1.50 percentage points.
- Cheapest delivery method: Bank Deposit averaged 3.15%, compared to 16.39% for Cash Pickup (13.24 percentage points higher).
- Cheapest combo: Cash → Bank Deposit averaged 3.15%, which is 13.80 percentage points lower than Bank Account Transfer → Cash Pickup (16.95%).
🛠️ How to use this insight: As you compare money transfer providers for your next Nigeria to Togo international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your Nigeria to Togo remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for NGN-XOF remittances?
When we compared Nigeria banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
Interestingly, for Nigeria to Togo remittances, traditional banks are 13.24 percentage points cheaper on average than money transfer providers.
This means money transfer companies tend to be approximately 0.19x more expensive than banks on average.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | NGN 1,260.00 | NGN 5,764.22 | NGN -4,504.22 |
| Exchange rate markup | 0.00% | 1.98% | -1.98 pp* |
| Average total cost (%) | 3.15% | 16.39% | -13.24 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: Historical data shows that banks in Nigeria can be competitive. However, pricing still varies by provider, transfer amount, and method — so comparing options can still be beneficial.
📊 Does sending more money reduce the cost of NGN-XOF money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending NGN 40000 vs NGN 100000 from Nigeria to Togo.
We found that sending a higher amount (NGN 100000) tends to be cheaper - average cost drops from 15.45% to 10.01%, a reduction of 5.44 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher Nigerian Naira amounts to Togo, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the Nigeria to Togo remittance market?
Based on data from the last 5 years, NGN-XOF money transfers are provided on an average by 3 remittance companies. With around 3 providers serving this market, we consider the level of competition to be limited.
Traditional banks have represented only 33.3% of active providers in this corridor (1 out of 3), meaning money transfer companies make up the majority.
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your Nigeria to Togo remittances.
⏱️ How fast are NGN-XOF money transfers?
If your recipient in Togo needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for Nigeria to Togo transfers when it comes to processing time:
- Average transfer time: About less than 1 hour.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About less than 1 hour.
- Average speed at NGN 40000: About less than 1 hour.
- Average speed at NGN 100000: About less than 1 hour.
Banks vs money transfer providers speed comparison: Banks and money transfer providers have broadly similar delivery speeds.
🛠️ How to use this insight: If you need to send money from Nigeria to Togo in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for Togo.
Nigeria to Togo transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about Nigeria to Togo money transfers
These FAQs use data from RemitFinder's historical analysis of Nigeria to Togo money transfers over several years.
What factors affect the total cost of sending money from Nigeria to Togo?
The total cost of your NGN-XOF money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect Nigeria to Togo transfers?
Historical NGN to XOF exchange rate markup ranges from -2.61% to 24.28%, a spread of 26.89 percentage points. Even small differences in the exchange rate markup can impact your final payout significantly.
Can NGN-XOF exchange rate markup be negative?
Sometimes, money transfer providers may offer promotional exchange rates that are better than the mid-market exchange rate, resulting in a negative NGN-XOF exchange rate markup.
Such offers are generally limited by transfer amount, eligibility, or duration. Compare providers to see if you can take advantage of any ongoing special offers.
Is the exchange rate or the transfer fee more important for Nigeria to Togo transfers?
Exchange rate markup ranges from -2.61% to 24.28% (a spread of 26.89 percentage points).
Transfer fees range from NGN 840.00 to NGN 15000.00, which equals roughly 35.40% on a NGN 40000.00 transfer.
At NGN 40000.00, the larger driver of overall cost is the transfer fee, whilst at NGN 100000.00, it shifts toward exchange rate markup.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Nigeria to Togo transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger NGN 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 often becomes the bigger driver. Either way, comparing both helps you get the most XOF for your NGN.
How much can Nigeria to Togo transfer costs vary between providers?
Historical transfer cost ranges from 2.10% to 37.50% for NGN transfers to Togo. That is a spread of 35.40 percentage points, meaning significant differences between various money transfer providers.
A major contributor to this variation is exchange rate markup. FX markup alone ranges from -2.61% to 24.28% (a spread of 26.89 percentage points). Thus, even small differences in FX margin can have a big impact on the final XOF payout.
Why do various money transfer providers price NGN to Togo transfers differently?
If you send the same Nigerian Naira amount to Togo via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final XOF payout in Togo in a big way.
How stable are transfer costs in the Nigeria to Togo corridor?
When we analyzed the historical total cost for NGN-XOF transfers, we observed a range from 2.10% to 37.50% (35.40 percentage points difference), along with a variability (standard deviation) of 8.11%.
A major driver of cost in this market is exchange rate markup. FX markup ranges from -2.61% to 24.28% (26.89 percentage points difference), with a standard deviation of 5.00%. Fees and payment/delivery method choices can contribute to further volatility.
This is exactly why we recommend comparing money transfer providers to get the most of your NGN-XOF transfers.
Which payment method is cheapest for Nigeria to Togo remittances?
Cash is the cheapest payment method in Nigeria based on its average cost at 15.45% (compared to Bank Account Transfer at 16.95%, a difference of 1.50 percentage points).
Based on this, we recommend paying for your NGN transfer with Cash, and avoiding Bank Account Transfer if possible.
Which delivery method is cheapest for NGN-XOF money transfers?
Bank Deposit is the cheapest delivery method in Togo as it costs 3.15% (compared to Cash Pickup at 16.39%, a spread of 13.24 percentage points).
If your recipient in Togo can accept Bank Deposit, we recommend choosing it as your preferred delivery option for NGN-XOF transfers.
Is Bank Deposit cheaper than Cash Pickup for Nigeria to Togo transfers?
Bank Deposit is cheaper for transfers to Togo given its 3.15% average cost (versus 16.39% for Cash Pickup, a difference of 13.24 percentage points).
To save more, consider choosing the cheapest delivery option for Togo.
What is the cheapest way to send money from Nigeria to Togo?
We evaluated 3 payment and delivery method combinations for Nigeria to Togo remittances.
Based on historical data, Cash → Bank Deposit is the cheapest combination with 3.15% cost.
At the other end of the spectrum, Bank Account Transfer → Cash Pickup is the most expensive combination at 16.95% cost. That is a difference of 13.80 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for Nigeria to Togo remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your NGN-XOF transfers.
Does sending more money reduce the cost for Nigeria to Togo transfers?
Larger NGN-XOF transfers are cheaper on average.
The cost of a NGN 40000 transfer averages 15.45% as compared to 10.01% for a NGN 100000 transfer, a difference of 5.44 percentage points.
How long does it take to send money from Nigeria to Togo?
Based on our analysis, the average transfer time for NGN-XOF transfers is less than one hour, with the fastest transfers completing in less than one hour and the slowest in less than one hour.
Are instant transfers available from Nigeria to Togo?
Yes, historical data shows that some transfers to Togo from Nigeria can complete in less than one hour.
Note that the actual speed of your NGN-XOF transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for Nigeria to Togo?
Banks in Nigeria are competitive and can be cheaper than money transfer providers.
The average cost of banks is 3.15% compared to 16.39% for money transfer providers in Nigeria, a difference of -13.24 percentage points.
How competitive is the Nigeria to Togo remittance market?
Based on historical data, the competition level in Nigeria to Togo is considered limited with 3 active providers.
Money transfer providers represent about 66.7% of identified providers in Nigeria.
Do I risk overpaying if I do not compare providers for Nigeria to Togo?
Historically, total NGN-XOF transfer cost has varied by 35.40 percentage points. On a NGN 40000 transfer, that can translate to NGN 14160.00 in savings.
NGN-XOF exchange rate markup also varies across providers. The average markup spread has been about 26.89 percentage points. On a NGN 40000 transfer, that could be NGN 10756.00 saved from FX alone.
Fees can also make a big difference in this market, with a difference of about NGN 14160.00 across providers.
That is why comparing providers can materially change how much of the NGN you send does your recipient receive in Togo in Togo.
Latest NGN to XOF Conversion Rates
Here are some latest NGN to XOF (Nigerian Naira to CFA Franc BCEAO) exchange rates for popular conversion amounts*.
| 1 NGN | 0.42 XOF |
| 5 NGN | 2.10 XOF |
| 10 NGN | 4.20 XOF |
| 25 NGN | 10.50 XOF |
| 50 NGN | 21.00 XOF |
| 100 NGN | 42.00 XOF |
| 150 NGN | 63.00 XOF |
| 200 NGN | 84.00 XOF |
| 250 NGN | 105.00 XOF |
| 300 NGN | 126.00 XOF |
| 400 NGN | 168.00 XOF |
| 500 NGN | 210.00 XOF |
| 600 NGN | 252.00 XOF |
| 700 NGN | 294.00 XOF |
| 800 NGN | 336.00 XOF |
| 1000 NGN | 420.00 XOF |
| 1500 NGN | 630.00 XOF |
| 2000 NGN | 840.00 XOF |
| 2500 NGN | 1,050.00 XOF |
| 3000 NGN | 1,260.00 XOF |
| 4000 NGN | 1,680.00 XOF |
| 5000 NGN | 2,100.00 XOF |
| 10000 NGN | 4,200.00 XOF |
| 15000 NGN | 6,300.00 XOF |
| 20000 NGN | 8,400.00 XOF |
| 30000 NGN | 12,600.00 XOF |
| 40000 NGN | 16,800.00 XOF |
| 50000 NGN | 21,000.00 XOF |
| 100000 NGN | 42,000.00 XOF |
*Based on the Mid-market Exchange Rate
1 Based on 42 pricing observations across 3 firms over the last 5 years for a NGN 40000 money transfer from Nigeria to Togo. 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 Nigeria to Togo 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.