How to Receive International Payments in Nigeria June 2026

Nigerians are hard workers and good at what they do. One of the most disheartening experiences you can have is not being able to receive your hard-earned money after completing a job. Much more than the hours spent, your mind is already on the expected payment. More so, you may even have budgeted on how to spend the money. 

This unpleasant situation does not have to be your experience anymore. Keep reading as this article explains how to receive International payments in Nigeria. 

Top 5 Ways To Receive International Payments in Nigeria 

Here are the best five ways to receive international payments in Nigeria; 

Domiciliary/International Bank Wire Transfer

You can open a Domiciliary bank with any Nigerian bank to receive dollars, pounds, or euros. Different banks have specific requirements for setting up an account. Hence, you may need to visit the bank to get started. However, general requirements include having a current account in the bank, two guarantors with a required amount in their accounts, a means of identification, and a utility bill. 

Pros 

• Easy way to receive your multiple payments. 

Cons 

• It might be difficult to meet some bank requirements. 
• Inter-transfer between two domiciliary accounts is impossible.  

Using PayPal or Payoneer 

One of the most famous ways people receive international payments is through PayPal or Payoneer. PayPal only supports business accounts, while Payoneer allows individuals to set up an account. Also, Payoneer only supports $20 minimum withdrawal amount and a $3,000 maximum withdrawal amount.

Pros 

• Easy to set up an account.
• Both have wide usage across different countries. 

Cons 

• Only business accounts can receive payment from PayPal. 
• Payoneer contact support isn’t 24/7. 
• Payoneer processes transactions only during business days. 

Via Payment Gateways 

Payment gateways are becoming quite popular in Nigeria. Several Nigerian platforms have developed payment gateways for interested users. A payment gateway is a financial service provided by an online business that helps its customers process credit card transactions. Popular platforms are MasterCard, Visa, or independent providers like PayStacks, Flutterwave, and Remita. 

Pros 

• Easy to set it up. 
• Allows you to create a virtual dollar for other uses.
• The transaction is fast. 

Cons 

• Processing fees are discouraging. 
• Customer support is reportedly poor. 
• The user interface may be tricky to navigate.
  

Using Cryptocurrency 

Cryptocurrency is one of the easiest and fastest ways to receive money from anyone in the world. There is no barrier. All you have to do is create a wallet, share it with the sender, and expect your payment. You can proceed to Ridima to convert your cryptocurrency to Naira within seconds. 

Pros 

• Fast and reliable. 
• Little or no transaction fee.
• No barrier to receiving payment 

Cons 

• Anonymity makes it hard to know who has made the payment. 
• Susceptible to scams and frauds. 

Learn about trading digital assets on Ridima. 

Using Giftcards 

Gift cards are another way to receive international payments in Nigeria. The process is simple. The payer can walk into any convenience store or a reliable online platform to order gift cards. Once they share the details with you, you can proceed to Ridima to convert this gift card to Naira.  

Pros 

• Easy to buy and sell. 
• Conversion to Naira is instant via the Ridima App.
• Security is optimum. 
• No transaction fee. 

Cons 

• Different gift cards have varying denominations and conversion rates. 

Learn how to buy or sell the best gift card with the highest rates. 

Frequently Asked Questions on Receiving International Payments in Nigeria 

Question 1: Can I use PayPal to receive international payments in Nigeria? 

Yes, you can receive international payments in Nigeria with PayPal. However, PayPal can be inconsistent with its services to Nigerians, so it is not always advisable. 

Question 2: Do I need my NIN to receive foreign payments in Nigeria? 

Yes, you may need your NIN to verify your identity on any platform. If you don’t have one, you can also use other means of identification, such as an International Passport, Driver’s license, or Permanent voter card. However, ascertain if your platform requires this for verification. 

Question 3: Can I receive my payment in Bitcoin or cryptocurrency? 

Yes, you can receive your payment in Bitcoin or other cryptocurrencies. Here is a little advice: it is advisable to receive your payment using a stablecoin. That way, you can be sure about how much your payment is. 

Question 4: Which Nigerian bank can accept dollars, pounds, or euros? 

Most commercial banks in Nigeria allow their customers to open a Domiciliary account. You can decide to open a dollar, pound, or euro account. You should also note that you will need to open multiple accounts to receive different currencies. 

Question 5: Where is the best platform to sell my gift cards in Nigeria? 

Receiving your payment using gift cards is easy. However, it is easier to trade on Ridima, the best trading platform in Nigeria. You will enjoy high rates and instant payout.