Domiciliary accounts made sense when SWIFT was the only dollar rail. They come with opening friction (references, minimum balances at some banks) and operating friction (cash withdrawal limits, transfer approvals). The stablecoin route replaces all of it: the dollar leg happens on-chain, and only naira touches your Nigerian bank — through a normal NIBSS transfer to the GTBank, Opay, or Kuda account you already have.
Yes. Money sent as USDT arrives at your Monica address and converts to naira in your regular bank account — no domiciliary account, no branch visit, no reference letters, no withdrawal caps.
A verified Monica.cash account — BVN or NIN plus a selfie, about 4 minutes — and any Nigerian bank account for the naira.
About $1 in network fees on TRC-20. Monica charges 0% to receive, convert, and withdraw.
Seconds to a few minutes for on-chain confirmation, then under 60 seconds from conversion to bank alert — 24/7, weekends included.
0% fees on the Nigeria side. Live market rate. Every Nigerian bank.
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