How to Receive International Payments in Nigeria (Payoneer, Grey, and More)

With the rise of remote jobs, freelancing, e-commerce, and digital entrepreneurship, more Nigerians are working with international clients and earning in foreign currencies like dollars, euros, or pounds. But there's one major challenge — how to receive international payments in Nigeria safely, quickly, and cost-effectively.

Thanks to digital financial platforms like Payoneer, Grey (formerly Aboki Africa), Geegpay, and others, it's now easier than ever for Nigerians to receive payments from clients, employers, and marketplaces abroad without the limitations of traditional banks.

In this guide, we’ll explore:

• The top platforms to receive foreign payments in Nigeria
• How they work
• Their pros and cons
• What you need to get started

Why International Payment Platforms Matter in Nigeria

Traditional Nigerian banks often have:

• Limited access to international payment systems (e.g., no PayPal receiving).
• High fees for wire transfers.
• Bureaucratic bottlenecks.
• Unfavourable exchange rates.

In contrast, fintech platforms offer:

·       Virtual foreign bank accounts (USD, GBP, EUR)

·       Fast processing times

·       Lower fees and competitive exchange rates

·        Ability to withdraw to your Naira account or convert to stablecoins

Best Platforms to Receive International Payments in Nigeria

1. Payoneer

Payoneer is one of the most trusted platforms globally for freelancers and businesses to receive payments.

How it works:
Payoneer provides virtual bank accounts in the US, UK, and EU. You can share these bank details with international clients or link them to platforms like Upwork, Fiverr, Amazon, and more.

Pros:

• Highly reliable
• Works with major freelancing platforms
• Virtual USD, GBP, EUR accounts
• MasterCard for global transactions (optional)

Cons:

• Charges withdrawal and currency conversion fees
• Limited crypto integration

How to start:

• Sign up at www.payoneer.com
• Verify your identity (BVN, ID, utility bill)
• Link to freelance platforms or provide bank details to clients

2. Grey (formerly Aboki Africa)

Grey is a Nigerian startup that provides virtual international bank accounts for freelancers, remote workers, and digital entrepreneurs.

How it works:
You get a personal USD, GBP, or EUR account. Clients pay into that account, and you can convert the funds to Naira or withdraw to a Nigerian bank.

Pros:

• Competitive exchange rates
• Easy and fast onboarding
• Supports PayPal withdrawals
• Simple UI

Cons:

• Not as widely known as Payoneer (yet)
• Some users report delayed transfers during peak periods

How to start:

• Sign up at www.grey.co
• Upload your ID and verify BVN
• Get virtual foreign accounts in minutes

3. Geegpay by Raenest

Geegpay is another reliable option tailored for African freelancers. It provides international virtual accounts and supports multiple currencies.

Features:

• USD, GBP, and EUR accounts
• Receive payments from Stripe, Deel, Fiverr, etc.
• Convert to Naira or USDT
• Virtual dollar cards for online payments

Pros:

• Fast transaction processing
• Dollar card for subscriptions like Netflix, AWS
• Good for crypto-friendly users

Cons:

• Still relatively new — more suitable for tech-savvy users

4. Chipper Cash

Chipper is a cross-border payment app that also allows you to receive and hold USD.

Key features:

• Chipper USD wallet
• Free transfers between Chipper users
• Supports African countries + USA and UK

Best for: Smaller payments or peer-to-peer transfers.

5. Wise (formerly TransferWise)

While Wise doesn’t provide Naira accounts, it allows international clients to send payments directly to your NGN account at great exchange rates.

Pros:

• Transparent exchange rates
• Low fees
• Highly trusted worldwide

Cons:

• No virtual USD accounts for Nigerians
• Not ideal for freelancers who need full bank details

What You Need to Open These Accounts

Most platforms require:

• Valid government-issued ID (NIN slip, driver’s license, passport)
• Bank Verification Number (BVN)
• Email and phone number
• Utility bill or proof of address

Some (like Payoneer) may require a short waiting period before full access.

Tips for Receiving Payments from Abroad

✅ Use official channels — Avoid using black market methods or unknown apps.

✅ Be transparent with clients — Share your exact payment method and double-check transfer details.

✅ Convert at the right time — Exchange rates fluctuate. Some platforms let you hold foreign currency and convert when it’s more favourable.

✅ Track transactions — Always keep records for tax or business purposes.

Common Mistakes to Avoid

❌ Using your personal Nigerian bank account for foreign wires — They often block or delay such transactions.

❌ Sharing PayPal details if your account isn’t fully verified — PayPal does not allow Nigerians to receive payments unless registered via supported countries.

❌ Ignoring platform fees — Always check for conversion rates and withdrawal fees before confirming a transfer.

Final Thoughts

Receiving international payments in Nigeria used to be a major challenge, but thanks to fintech innovation, it's now accessible, efficient, and secure.

Whether you’re a freelancer, remote worker, or online business owner, platforms like Payoneer, Grey, Geegpay, and Chipper Cash allow you to connect with the global economy without physically leaving Nigeria.

Start by testing 1–2 platforms to see which fits your needs best. Once you’ve figured out what works, receiving dollars, pounds, or euros will feel as easy as sending a WhatsApp message.

Disclaimer:

This article is for informational purposes only and does not constitute financial advice. Please research and verify all platforms before use.