Money transfer generally refers to one of the following cashless modes of payment or payment systems: Electronic funds transfer, an umbrella term mostly used for bank card-based payments. Wire transfer, an international expedited bank-to-bank funds transfer. Giro, also known as direct deposit.
Currently we only support money transfer to and fro Ghana and Nigeria. Naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 Kobo. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation and Ghana cedi (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth and only legal tender in the Republic of Ghana. One Ghana cedi is divided into one hundred pesewas (Gp).
To send money to Nigeria from Ghana you can create a free Cofred account and load money into your account via any of our Agents located near you or via any other deposit options available on the deposit money page or screen of your Cofred account, thereafter click or tap on "Rapid Money Transfer" followed by "Bank Transfer To Nigeria" enter your recipient bank details and click on send.
As soon you make the transfer, we will start processing it immediately and Within one business hour your recipient bank account in Nigeria is funded.
To receive money from Nigeria to Ghana, log into your account and click on "Manage Money" followed by "Request Money" select the bank option your sender wants to pay with, fill in the amount you want to receive in Naira and click "Submit", the system will provide you with the bank details for your sender to pay with.
Once your sender has made the payment into our bank account in Nigeria, alert us and upon payment confirmation your Cofred account will be funded then you can make withdrawal to your Bank or Mobile money account or pick up cash from our Agents locations.
We charge NGN1,000.00 Flat fees for any amount less than NGN50,000.00 and 2% on transfers above NGN50,000.00! You can use the calculator below to help you to understand how it works! Just enter the amount you want to send in Cedis or recieve in Naira and the system will give you the amount you will pay in Cedis or you will recieve in Naira. Please note that fees are included in the form result from GHS to NGN and from NGN to GHS.
To join the onging promotion! Make a Bank transfer transaction from Ghana to Nigeria and enter the transaction ID from that transaction on the form below and you will be included in the lucky draw which is automatically drawn at the end of every month and if the system select your transaction ID you will be given a Cofred Token worth GHS50.00.