Western Union had changed their policies for sending money to Nigeria. You can no longer send the money in US dollars. Your loved one has to receive the money in naira. What’s so bad about that, you ask?
The problem is, the bank converts the dollars at a rate that it lower than the market. From what I’ve been told, the bank exchanges the money at N150 per every dollar. Outside though, you can get it for about N160 for every dollar, maybe even more. The N10 may not seem like a lot of difference, but it does add up. Example, if you send $500, your loved one will get N75,000 instead of N80,000. So, like I said, it does add up.Read more
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