Peanut Is Coming to Nigeria
Send money to Nigeria, receive naira via Airtel Money, and skip the BVN requirement — no fees, real market rate.
Nigeria receives approximately $20 billion in remittances every year, making it Africa's largest recipient. Workers in the United Kingdom and the United States send money home to family — and every transfer costs more than it should. Traditional remittance services charge 5-10% in combined fees and exchange rate markups on some corridors. That money should be going to rent, school fees, and daily expenses.
Nigeria's fintech scene is booming. Apps like OPay, Kuda, and Moniepoint are rapidly digitizing payments. Airtel Money is a growing mobile money provider, and the broader ecosystem includes MTN MoMo, PalmPay, and Paga. Mobile money adoption is accelerating as the CBN pushes financial inclusion. But most local financial services require a Bank Verification Number (BVN), which links biometric data across accounts and requires in-person registration at a Nigerian bank.
Peanut will change that. When local spending launches in Nigeria, you will be able to send money and have the recipient spend locally via Airtel Money — without needing a BVN or a local bank account. Your digital dollar balance will convert to Nigerian naira at the real market rate.
How It Will Work
- 1
Deposit funds
Add money to your Peanut balance from your bank via SEPA, ACH, or wire transfer — or send digital dollars from any major exchange. All deposits are free.
- 2
Your balance stays in digital dollars
Your funds will be held in digital dollars until you are ready to spend or send. No exposure to naira fluctuations while your money sits in your account.
- 3
Spend via Airtel Money
When Peanut launches local spending in Nigeria, you will access Airtel Money for mobile payments and transfers. Your digital dollars will convert to naira at the moment of payment.
- 4
Send money to anyone
Share a Peanut Link with anyone in Nigeria. They will claim the funds and withdraw to their bank account or mobile wallet — no Peanut account required on their end.
What Payment Methods Are Coming
Airtel Money
Airtel Money is one of Nigeria's key mobile money providers, enabling P2P transfers, bill payments, and merchant transactions through mobile phones. The broader Nigerian mobile money ecosystem also includes MTN MoMo, OPay, PalmPay, and Paga — each growing rapidly as Nigeria moves toward a cashless economy.
When Peanut integrates Airtel Money, you will be able to make mobile payments and transfers across Nigeria. The recipient will see a normal Airtel Money transaction. No BVN required, no Nigerian bank account needed, no local SIM card on your end.
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What to Expect
The Nigerian naira has experienced significant depreciation in recent years, with a wide gap between official and parallel market rates at times. The CBN has moved toward a more market-driven exchange rate, but volatility remains a defining feature of the NGN landscape. Credit cards from abroad incur foreign transaction fees and markups.
Peanut will convert your digital dollars to Nigerian naira at the real market rate. The rate locks at the moment of payment — what you see is what you pay. No hidden markups, no foreign transaction fees.
For the remittance corridor, the savings are substantial. Traditional channels to Nigeria charge 5-10% in combined fees and exchange rate markups on some routes. Peanut will deliver funds at a better rate, with no fees on either end.
Who Will Use Peanut in Nigeria
Nigerians Abroad Sending Money Home
If you work in the United Kingdom or the United States and send money home to Nigeria, Peanut is being built for you. Traditional remittance services charge 5-10% in fees on some corridors, and the money can take days to arrive. With Peanut, you will send dollars and your family will receive naira instantly — via Airtel Money or a direct bank withdrawal. No fees on either end, real market rate, no waiting.
Families Receiving Remittances
On the receiving end, Peanut makes claiming money simple. Your family member abroad sends you a Peanut Link. You tap it, claim the funds, and withdraw to your bank account or mobile wallet. The money arrives in naira, instantly, at a better rate than what traditional services offer.
Freelancers and Remote Workers
Nigeria has one of Africa's most active freelancer communities. If you receive payments from international clients, traditional channels cost you in fees and conversion markups. Peanut will let you receive digital dollars and convert to naira at the real market rate when you need local currency.
Get Notified
Peanut is not yet live for local spending in Nigeria, but you can already deposit and withdraw digital dollars today. When Airtel Money integration launches, you will be among the first to pay like a local.
Sign up now to get notified when Peanut launches local spending in Nigeria. Verification takes under two minutes with your passport or national ID — no BVN required.
