Many Nigerians face challenges when it comes to international transactions. But fear not! You’re not alone.

Whether you’re a student, a business owner, or simply an individual looking to make international payments, this post will guide you.

Let’s get started.

Ways To Pay USD in Nigeria

Depending on the product or services (this is very important) you are paying for, below are proven ways you can easily pay in USD from the comfort of your room.

1. Virtual Cards

Virtual cards look like your physical credit and debit cards with a 16-digit card number, expiry date, and CVV code. 

Grey, Geegpay, Chipper Cash, ALAT by Wema, Bitnob, Eversend, Changera, Fundall, Payday, Barter by Flutterwave, Gomoney, PSTNET, Bitsika, Cardtonic, Klasha, Kuda bank card, etc.

NOTE: Those are popular virtual cards that Nigerians ‘used’ or are ‘still using’ to pay for international payments (USD, GBP, etc.), and some in one time or another worked but stopped working due to policy changes in Nigeria.

However, there’s a virtual card you can use, which I’ve personally used multiple times recently and can vouch for. (NOTE: This is NOT a paid post or advertisement, just a personal review.)

It is called Africard (formerly called Social Cash)

Africard-Banking Africa by TecheraX

They (Africard) are the Mastercard/Visa Card Issuer for Africa. Offering global payments with virtual and physical cards, uniting Africa with seamless financial solutions.

Make payments in USD, NGN, GBP, and EUR with virtual cards. Convert, transfer, and spend globally from Africa. (According to their Playstore’s Description)

Types of Virtual Cards by Africard

• Black Card

You can use their BLACK CARD on crypto platforms, wise, Stripe, PayPal Neteller, Skrill, Aliexpress, Alibaba, Facebook, X (formerly Twitter), Digital Ocean, AWS, Google, Namecheap, Buymecoffee.com (I used last on this particular website), and many more other international platforms.

• Classic Dollar Card

The Classic dollar card allows you to make international payments on a wide range of platforms, including Aliexpress, Alibaba, ASOS, Facebook, DigitalOcean, AWS, Google, Namecheap, and many others.

NOTE:

1. Ensure to calculate the total money you want to pay properly before adding money to your virtual card because you will pay a service charge (small fee though) for every Dollar Wallet Credited (to your virtual Card). (Example: Don’t you think you are paying for a 5,000 naira product and you added only 5,000 naira then you will need to add extra because that service will be paid on the 5,000 naira, making it not to be 5,000 naira again.)
2. You will pay a service charge for every payment made on your virtual card. So, if you need to make a payment of like 200 USD, ensure you have over 200 USD on the card (maybe 210 USD) to avoid failed payment.

If there is other virtual card(s) you have also used of recent, kindly chare them in the commmet section.

Let’s move on to the second Proven Ways To Pay USD in Nigeria

2. Cryptocurrency

Yes, you can use any cryptocurrency of your choice to pay (as long as it’s accepted by the platform). That was why I said earlier that “depending on the product or service.”

Platforms That Accept Cryptocurrencies From Nigerians

There are platforms that accept cryptocurrencies from Nigerians. Platforms like Namecheap Inc., where you can purchase domains, hosting, VPNs, etc., accept Bitcoin payments through BitPay and BTCPay.

Bitcoin is a peer to peer decentralized currency that enables instant payments to anyone located anywhere in the world. It has no central authority, so managing transactions and issuing money are carried out collectively by the P2P network. For more information on Bitcoin, you can visit Bitcoin.org.

Is crypto allowed in Nigeria?

There is no legislation in Nigeria that expressly bans the usage of cryptocurrencies. So, yes, crypto is allowed in Nigeria. The government lifted its ban on crypto in December 2023. In January 2024, the Nigerian Securities and Exchange Commission (SEC) reversed its earlier harder line stance, prompting the Central Bank to release guidelines for banks opening cryptocurrency accounts.

Popular cryptocurrency exchanges

Apart from using online-based platforms directly, you can purchase goods and ask the seller if he or she accepts crypto. That can be done via many of these crypto platforms, like:

• Bitget
• Bybit
• Kraken
• KuCoin
• Busha, etc.

NOTE: Ensure to be extra careful when sending cash to the seller.

3a. Domiciliary Accounts

Domiciliary Account: A domiciliary account is a type of foreign currency bank account, typically used by individuals or businesses to hold and transact in foreign currencies (such as USD, EUR, GBP). It is common in countries with their own local currency but where customers also need to transact in foreign currencies.

Example: In Nigeria, people may open a domiciliary account to receive and send money in dollars or euros.

Key Purpose: Hold and transact in a foreign currency within your local bank.

3b. Multi-Currency Bank Accounts

Multi-Currency Bank Account: A multi-currency bank account allows you to hold and manage multiple currencies within a single account. Instead of having separate accounts for each currency, all currencies are managed under one account.

It’s useful for international business owners, frequent travelers, or anyone needing to transact in multiple currencies without converting back and forth.

Example: A UK-based freelancer working with clients from the U.S., Europe, and Australia can receive payments in USD, EUR, and AUD under the same account.

Key Purpose: Hold, manage, and switch between multiple currencies within one account.

3c. Remittance Services

Remittance Services: Remittance services refer to the process of sending money, typically by migrants, from one country to another. This is usually done through specific companies or platforms designed for international money transfers (e.g., Western Union, MoneyGram, Ria, WorldRemit, SmallWorld, Wari, etc.).

Example: A parent needs to pay child’s school fees in the U.S. uses a remittance service to send money to his or her child.

Key Purpose: Send money internationally, often person-to-person.

3d. Bank Transfers & International Wire

Bank Transfers & International Wire: Bank transfers (or domestic transfers) refer to transferring money between accounts within the same country. International wire transfers, on the other hand, are bank transfers between accounts in different countries, involving cross-border transfers of funds.
International wire transfers are typically conducted through systems like SWIFT, and may involve higher fees and longer processing times compared to domestic transfers.

Example: A business in Nigeria wires money to a supplier’s bank account in US.

Key Purpose: Transfer money directly between bank accounts, either domestically or internationally.

Summary of Differences:
Domiciliary account: For holding and transacting in a foreign currency in a local bank.
Multi-currency account: For holding and managing multiple currencies in one account.
Remittance services: For sending money abroad, often between individuals.
Bank transfers & international wire: Moving money between bank accounts, with “international wire” specifically referring to cross-border transfers.

4. Gift Cards

One other way to pay USD while in Nigeia is using Giftcards platforms. Platforms like Innixx, Kuda, Cardtonic, GiftCardsToNaira, etc. With Giftcard you can easily pay:

App Store: Google Play, iTunes

Apple Gift Card: Apple

Beauty: BNatural MedSpa, Hairitage Hub, HealthPlus, OneandKo, Oriki, Sephora

Electronics: Best Buy, Currys, Emax, MediaMarkt, Samsung

Fashion: Adidas, American Eagle Outfitters, Ardene, Asos, Banana Republic, Clarks, David Wej, DSW, Forever 21, Gap, H&M, New Look, Nike, Nordstrom, Primark, Swarovski, The5kShop, Twice As Nice, Zalando, Zappos

Film & TV: Filmhouse Cinemas, Hulu Plus, Netflix

Food Delivery: DoorDash, GrubHub, Uber Eats

Gaming: Blizzard Balance, Fortnite, FreeFire, Gamestop, IMVU, Jagex RuneScape, Nintendo, PlayStation, PUBG, Razer Gold, RuneScape, Steam, Xbox, Xbox Live

Home Decor: Adam N Eve, Crate & Barrel, Home Depot, IKEA

Hotels: Hotelgift, Hotels.com

Music: Spotify

Restaurant: Buffalo Wild Wings, Burger King, Casper & Gambini’s, Chipotle, Domino’s, Dunkin’ Donuts, Pizza Hut Restaurants, Red Lobster, Starbucks

Shopping: Amazon, Argos, Carrefour, Grocery Bazaar, Harvey Nicols, Macys, Marks and Spencer, Noon, Ruff n’ Tumble, Sainsburys, Selfridges, Suregifts Generic, T.J. Maxx, TK Maxx, Typo, Ubuy, Walmart

Transport: Uber

NOTE: Before you buy gift cards on Kuda or any other Giftcard platforms available to Nigerians, ensure you read their disclaimer carefully before purchasing.

AliExpress + Opay

Make Payments on AliExpress from Nigeria: One way to do that is to make sure your AliExpress app is up-to-date. After updating you should be able to use your Opay account to pay directly for every goods you buy on AliExpress.

Just click on the Opay option, confirm your password and OTP and viola, payment made.

Sounds untrue, right?

That last one was a bonus anyway, especially for e-commerce business owners.

Thanks for reading. I hope it solves your problem of paying for USD in Nigeria.

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