How to pay a team in Nigeria from the US, Canada, the UK or Europe: channels, costs and what the recipient sees

Short answer. Fund a Storspay business account in US dollars, euros, pounds or Canadian dollars, add your recipient in Nigeria once, and the payout lands the same business day in naira to the bank account or mobile-money wallet they already use. It costs 2% all-in at the mid-market rate, against roughly 6% for a bank wire. The recipient signs up for nothing.

Nigeria is one of the busiest corridors on Storspay: North American, UK and European companies paying software and design agencies, customer-support teams, sales agents, healthcare programmes, film and media crews in Lagos, Abuja and Port Harcourt. This guide covers what you need from the recipient, which channel the money travels on, what it costs against a wire, and what the person on the other end actually sees.

Who this is for — and who it is not for

Storspay is for businesses, and a sole trader counts as one. If you are a freelancer or sole proprietor trading in your own name, you open a business account of the sole-trader type. You can be paid by companies abroad, and you can pay other businesses on Storspay — including other sole traders — for work they have done for you.

What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, work delivered. Money to family, gifts and personal transfers are not what this is, and we would rather say so now than at verification.

How the money gets there

• Bank transfer. Any NUBAN account at a Nigerian commercial or microfinance bank — GTBank, Access, Zenith, First Bank, UBA, Kuda, Opay, Moniepoint and the rest; lands the same business day through NIP.

You never pick the rail. Storspay chooses the best live channel for each payment, shows you which one before you confirm, and splits anything above a per-transfer cap into the right number of transfers under one reference and one fee.

What you need from the recipient

Just the ten-digit NUBAN account number and the bank; Storspay verifies the account name before you confirm. No app to install, no account to open, nothing new to learn — the Nigerian recipient is paid in naira to the account or wallet they already use, and gets a notification from their own bank or network when it lands.

What it costs

Say you pay a team member in Lagos US$10,000. Storspay charges 2% all-in — $200 — and the recipient gets ₦13,035,685 at the mid-market rate on the day of writing, September 2026 (1 USD = 1,330 NGN). A bank wire at a typical 6% in fees and spread delivers about ₦12,503,616. That is ₦532,069 more for your team, every payment, and it lands the same business day instead of three to five days later.

How a payment runs

1. Fund your balance in USD by ACH or wire, CAD by Interac e-Transfer or EFT, GBP by UK bank transfer, or EUR by SEPA — to account details in your own name. Dollars and euros are held in the currency they arrive in, so a EUR deposit stays euros until you choose to spend it; pounds and Canadian dollars convert to US dollars on arrival at the rate shown once on the deposit.
2. Add the recipient once, or upload a CSV for a whole team. Storspay verifies the account details where the local system allows it.
3. Enter the amount in USD or in NGN — either field updates the other — and confirm. The rate is fixed at that moment.
4. Track it to "completed", which Storspay only shows once the local bank or network has confirmed the credit.

What is particular about Nigeria

Nigeria is a bank-first corridor: there is no mobile-money cap to worry about, and fintech wallets like Opay, Kuda, PalmPay and Moniepoint all have NUBAN account numbers, so they are paid exactly like a bank. Because the naira has moved a long way in three years, what matters to your team is the rate they get — Storspay pays at the mid-market rate with the 2% shown separately, so the amount in the notification is the amount in the account.

Paying Nigeria alongside other countries

A Storspay batch can hold NGN lines next to payouts to any of the other 25 corridors, and next to USD, GBP or EUR bank payouts (from $5, £4 or €4.50) for recipients who prefer dollars, pounds or euros. One upload, one review, one total, one debit.

What "Storspay to Storspay" means

If the business you are paying is also on Storspay — a company or another sole trader — the payment is free and instant, and they receive the same currency you paid from, with no conversion in between. That is how a freelancer pays a subcontractor, or an agency settles with the designer it briefed. If they are not on Storspay, it is an ordinary payout: their local bank account or mobile-money wallet, 2% all-in, with any local delivery fee shown on the same line before you confirm.

Either way the payment has to be a business one. Storspay moves money between business accounts against work, invoices and supply — not between private individuals.

Questions we get about Nigeria

Can I pay a Nigerian fintech wallet like Opay or Kuda?

Yes. Every licensed wallet in Nigeria has a NUBAN account number and appears in the bank list — you pay it exactly like a bank account.

Do you pay in dollars to Nigerian domiciliary accounts?

Not into domiciliary accounts. If a recipient wants dollars, pay them to a US bank account in USD from $5 instead, or open them a Storspay Account with USD details.

Is there a limit per payment?

Large payments are split automatically under the local channel cap, under one reference and one fee — a US$20,000 salary run never becomes a trip to the bank.

See the exact number for your volume on the calculator — pick Nigeria, enter what you pay each month, and it shows what your team receives against a wire. Also read how getting paid from Nigeria and the other corridors works.