How to Send Money from Kenya to Nigeria

In today's globalized world, cross-border payments are an essential part of doing business and maintaining relationships with loved ones. However, the frequency of sending money from Kenya to Nigeria has increased in recent years, reflecting the two nations' strengthening economic relations. 

Remittance inflows to Sub-saharan Africa reached $53 billion in 2022, according to World Bank data–Nigeria and Kenya being the top recipients of remittances in Sub-Saharan Africa. 

In this article, we'll discuss how to send money from Kenya to Nigeria and explore the challenges of cross-border payments in Africa. As well as how you can use Bitnob as a possible solution to these challenges.

The Issues of Cross-Border Payment in Africa

In general, cross-border transfers in Africa are frequently difficult due to a variety of circumstances, but let's go through a few;

High fees

The average cost of sending money to Africa was 8.9% in 2019, much higher than the global average of 6.8%. This high cost of remittances can be a significant burden on families and small businesses that rely on these payments.

Limited Infrastructure 

This is also a major issue in many parts of Africa, where many people lack access to traditional banking services. Because of their lack of access to financial institutions, people may find it difficult to send and receive money, limiting their ability to engage in the formal economy.

Complex Regulatory Frameworks 

The extreme regulatory framework can also be a barrier to cross-border payments in Africa. Different countries have different rules and regulations governing financial transactions, and navigating these regulations can be challenging, especially for small businesses and individuals.

Bitnob: The best way to send money from Kenya to Nigeria.

We aim to address these challenges by providing an affordable, accessible, and convenient way to send money across African borders. Bitnob allows users to send money instantly and securely– including sending money from Kenya to Nigeria. Below are the factors that make Bitnob the best way to send money between Nigeria and Kenya;

Affordable fees

One of the key advantages of Bitnob is its low fees. You are only charged a fee of just 1% for all intra-African transactions, which is significantly lower than the average cost of remittances in Africa. Also, we offer competitive exchange rates, ensuring that users get the best value for their money.

Accessibility

The platform is available to anyone with a smartphone, making it easy for people in even the most remote parts of the supported African countries to send and receive money. 

Users can also send money in local currencies, eliminating the need for currency conversions and further reducing transaction costs. For example, you can send Nigerian Naira while you are in Kenya.

Robust security measures

Bitnob is committed to compliance with all relevant regulations and has put in place strong security measures to protect users' data and money.

How to Send Money from Kenya to Nigeria with Bitnob

The first step is to download Bitnob, fund your wallet, get verified, and proceed to these easy steps below;

• Tap on the “Transfer” button on the Quick Links section of the homepage

• Tap on “Transfer to Bank or Momo”
• Make sure the currency is set to Nigeria Nairs [NGN]
• Fill out the amount you’d like to transfer, then tap on “Continue”

• Select the bank and fill out the details of the account you want to send money. If this person would be someone you intend to send money to often, then tap on “Save as beneficiary” to make the person a beneficiary.      
   
• Tap on “Proceed to Transaction Note” to add a note on the transaction     
  
• Review the transaction summary and then tap on “Proceed” to initiate payment to the account or mobile money wallet. 

Bitnob also allows you to send money between 8 different African countries, helping individuals and businesses to easily send money for personal and commercial reasons.

Bitnob is Available in Kenya

Sending money from Kenya to Nigeria is not the only thing you can do with Bitnob if you are in Kenya. Bitnob’s availability in Kenya opens all users to explore every feature of the app without restrictions. You can fund, transfer, and withdraw from your wallets using Mobile money merchants like M-PESA, TKASH, and Airtel Money, making it convenient for you to use your money across Africa.

In addition, you can create virtual dollar cards to shop seamlessly online, buy, sell, and save bitcoin, purchase gift cards, and top up your airtime&data.

Ready to try the best app that makes using your money easier in Africa? Download Bitnob to get started.