Yeah, yeah, I know, that sounds like something you should be warning me about, but this is not a scammer - this is a personal friend; I’ve been helping him build his YouTube channel and he’s a wonderful example of a hard working, honest Nigerian.
Sometimes I need to send him money - when we work on a video together that I publish on my channel, I share some of my revenue with him, and there’s a GoFundMe which I am managing on his behalf (you can’t even sign up for GoFundMe if you live in Nigeria).
I used to send him the revenue shares, etc via Western Union or MoneyGram (yes, the same methods the scammers always wanted people to use), but a month or two ago, the Central Nigerian Bank stopped all incoming transfers being made so they arrive in the local currency (Naira) - so it’s now only possible to send US Dollars via MoneyGram and Western Union, but this is problematic, because such transfers cannot be withdrawn as cash, and so can only be paid into a US Dollar account, which is expensive to set up and maintain.
So I thought we had that sorted when we switched to using bitcoin - which was easy for me to purchase and transfer, and easy for him to pay into his local account, converting to Naira in the process.
Then last weekend, the Central Nigerian Bank basically banned cryptocurrency in Nigeria - of course, by the very nature of cryptocurrency, they can’t actually ban it, but what they have done is make it illegal for any finance institution to deal in crypto, so there’s no way to convert it into local currency.
I have tried direct bank to bank transfer once, and it worked, but it was very expensive (15 GBP in fees for a transfer of 30GBP) and it took 10 days to execute the transfer.
So now, I’m stuck. Does anyone know of an effective and totally above-board method to transfer money to Nigeria, in such way that a local recipient can make use of it as local currency?