With growing international mobility and financial interconnectivity, cross-border remittances between the Netherlands and Nigeria are expanding rapidly. Whether for study, family support, or personal investments, the demand for Euro to Nigerian Naira transfers is increasing steadily.

At the same time, fraudulent currency exchange schemes have also proliferated, posing significant risks to unsuspecting users.

In 2025, both the Netherlands Authority for the Financial Markets (AFM) and the Central Bank of Nigeria (CBN) have issued official advisories warning against illegal exchange channels and related scams.

1. Growing Cross-Border Remittance Needs Between the Netherlands and Nigeria

Nigeria, with its vast population and expanding economy, remains one of Africa’s largest remittance recipients. According to the CBN’s 2025 report, Nigeria received over $22 billion in global remittances in 2024, with a notable portion coming from European countries, especially the Netherlands.

While the Dutch government has tightened anti-money laundering regulations in recent years, legitimate personal remittances for family and study purposes remain permitted and accessible.

However, alongside this, illegal “black market rates,” unauthorized exchange channels, and fake remittance platforms are increasingly targeting consumers.

2. Common Exchange Fraud Tactics

• Black Market “Better Rates” Offers: Promising exchange rates above market value to lure users into unsafe transactions;

• Fake Platforms: Creating counterfeit websites or apps that mimic legitimate platforms to steal users’ funds;

• Social Media Scams: Advertising through channels like Facebook or Instagram to mislead users;

• Impersonated Customer Service: Fraudsters posing as bank or payment platform representatives asking for sensitive information.

According to Dutch police statistics from March 2025, fraud cases linked to Nigerian Naira exchange grew by 12% year-on-year, primarily affecting individual users.

3. Why Legal Platforms Matter — The Advantages of Panda Remit

Choosing a licensed, compliant platform like Panda Remit is essential to ensure both security and reliability. Key benefits include:

• Transparent Real-Time Rates: No hidden fees, with fully disclosed market exchange rates;

• Low Fees: More cost-effective than traditional banks, plus first-time users enjoy zero-fee transfers;

• Fastest Transfer Times: Funds arrive within as little as 2 minutes to Nigerian bank accounts and wallets;

• Robust Security Protection: Financial-grade encryption and fraud prevention mechanisms;

• Multi-Currency Support: Not limited to Euro-to-Naira transfers — other currencies available.

As of June 2025, Panda Remit serves over 5 million users across 60+ countries and regions.

4. How to Operate Safely?

1. Download the Panda Remit App (iOS and Android supported);

2. Register and Verify Your Identity;

3. Choose Euro to Nigerian Naira Remittance;

4. Input Recipient Details (Ensure accuracy);

5. Confirm Amount and Fees;

6. Pay and Complete Transfer.

All processes are clear and transparent, minimizing risks associated with transaction errors or unsafe channels.

5. Conclusion

Cross-border remittance is about more than just cost — it’s about safeguarding your funds. In a market where Euro-to-Naira exchange rates fluctuate and black market operators thrive, choosing a secure, compliant platform like Panda Remit is the responsible choice for both yourself and your loved ones.

Register with Panda Remit today and enjoy your first fee-free transfer.