Nigeria - Transaction costs

Average transaction cost of sending remittances to a specific country (%)

Average transaction cost of sending remittances to a specific country (%) in Nigeria was 7.07 as of 2020. Its highest value over the past 9 years was 10.11 in 2011, while its lowest value was 6.84 in 2014.

Definition: Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.

Source: World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org

See also:

• Thematic map
• Country comparison
• Country ranking
• More details
• Download data to Excel

Year	Value
2011	10.11
2012	9.68
2013	9.74
2014	6.84
2015	7.75
2016	8.59
2017	8.51
2018	7.61
2019	8.61
2020	7.07

Average transaction cost of sending remittances from a specific country (%)

Definition: Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.

Source: World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org

See also:

• Thematic map
• Country comparison
• Country ranking
• More details
• Download data to Excel

Year	Value
2016	10.07
2017	18.30
2018	12.28
2019	9.56
2020	16.10

Classification

Topic: Financial Sector Indicators

Sub-Topic: Access