A London-based fintech, Wise (formerly TranferWise), which provides cross-border payment, especially to African countries said it will stop making USD transfers to Nigeria.
In an email to customers yesterday the company said that the product has become too unreliable. Even though TranferWise told customers in the mail that it is working on making the process more efficient, it didn’t give any indication that it will be rolling out a similar product anytime soon.
It says that from November 1st users will not be able to make USD transfers to Nigeria.
Read an excerpt from the mail below:
From 1 November, we’re stopping all USD transfers to Nigeria.
We’re doing this because sending money to Nigeria hasn’t been as fast or reliable as we’d like. We want to fix this before your next USD transfer to Nigeria.
The route will be closed until we’re sure we can provide the service you deserve. We’ll let you know as soon as USD transfers to Nigeria are available again.