Remittances are vital to Nigerian households. These funds help cover daily expenses, school fees, healthcare, and even support small businesses.

With such economic importance, Nigerian residents must have reliable, fast, and cost-effective methods of receiving money sent from abroad, especially the UK, seeing how Nigerians have been immigrating to the country in recent times.

In 2024 alone, approximately 52,000 Nigerians relocated to the UK — 27,000 on work-related visas, 22,000 on study visas, and 3,000 under other immigration categories.

This is why we have created this guide to show you how to receive payments in Pounds (GBP) and convert to Naira with ease, speed, and full control through OhentPay.

Whether you’re a freelancer working with a tech firm in Manchester, a student receiving support from family in Liverpool, or a small business closing a deal with a client in Birmingham, OhentPay makes cross-border payments simple and reliable.

Key facts about the British Pounds (GBP) 

Here are some interesting facts about the British Pound (GBP) you probably do not know.

1. It is the oldest currency still in use. The British Pound is the world’s oldest currency still in use today. It dates back to Anglo-Saxon England around 775 AD.
2. Its symbol is £, derived from the Latin word “libra,” meaning weight or balance.
3. GBP is the 4th most held reserve currency in the world and the 3rd most traded after the USD and EUR.
4. The currency is not part of the Eurozone. Although the UK was part of the EU, it never adopted the Euro, keeping its Pound for sovereignty and economic reasons.
5. The Pound is used beyond the UK. It is also used in British overseas territories like Gibraltar, the Falkland Islands, and Saint Helena (with their own local versions).

Why you might need to receive Pound payments in Nigeria

Aside from immigrating to the UK, more Nigerians are engaging with the United Kingdom for work, education, or business. As a result, they would need to receive Pound payments for the following reasons:

• As stated earlier, the Pound is the third most traded currency globally, so there are e-commerce sites, freelance gigs, and remote contracts that have the Pound as their default payment currency.  
• Likewise, many freelance platforms and agencies in the UK pay in Pounds by default. So if you are a Nigeria-based freelance writer, designer, developer, or virtual assistant working with British clients, you may likely receive your payment in Pounds.
• Nigerians in the diaspora are popular for sending remittances back home. As of 2024, remittance inflows to Nigeria rose to $20.98 billion. And if there are more Nigerians immigrating to the UK, then it means the UK remittances contribute a significant portion to this figure. 

Why choose OhentPay for receiving Pound payments

OhentPay offers one of the most seamless and transparent methods to receive Pound payments in Nigeria.

It is your best option for receiving your payments because if you want to depend on traditional banks and older platforms, you would likely suffer the following: 

• Poor exchange rates: Banks and many money transfer providers offer poor exchange rates, causing you to lose a large chunk of your payment during conversion. 
• Long waiting times: While banks are structurally reliable, they take several business days to complete a transfer because of international banking regulations, exchange rates, and processing times. Digital remittance services, on the other hand, may face delays such as app downtimes and transaction failures. 
• High and unclear transfer fees: Because banks and money transfer operators charge fees to facilitate transactions and make profits, they add exorbitant fees to complete your transfers. These fees and other hidden costs may cause you to lose a significant portion of your Pound payment.

OhentPay eliminates these barriers by offering a modern platform designed for Nigerians doing global business, receiving support, or working remotely with UK companies. OhentPay’s unique features include: 

• Keeps costs predictable with a flat-rate fee of £1.50 for personal accounts
• Supports 40+ currencies and operates in more than 190 countries
• Direct bank transfers with swift processing times 
• Highly regulated and secure with FCA regulation, PCI DSS compliance, and SOC 2 certification
• Simple and intuitive interface for easy account management 
• Reliable customer support

How to receive Euro payments via OhentPay 

• Download the OhentPay app from the Google Play Store or Apple App Store
• Create and verify your account using a valid ID
• Navigate to your multi-currency account dashboard and locate your Pounds (GBP) receiving details
• Share your GBP account info with your client, employer, or sender in Europe
• On their end, they should go to the “Send Money” page, choose their preferred currency (GBP), select you as their recipient, and enter your details
• They should select your country (Nigeria) and your preferred currency (NGN), then fill out your bank account details or mobile wallet information
• They should proceed to review the transaction details, including transaction fees and estimated delivery time
• Next is to select the “Pay with Card” option and enter their unique PIN to authorize the transfer 
• Once the transfer is initiated, they will get a confirmation message, while you will receive a notification when the money is received.

Receiving payments in Pounds in Nigeria should not be a stressful procedure. This is why OhentPay makes sure you can access your funds quickly and safely.

Whether you're getting paid as a creative, a consultant, or a student abroad, you can access your funds quickly, safely, and at a great value.

So if you are ready to receive your next Pound payment, sign up on OhentPay today and take full control of your international earnings.