Nigerian students in Canada and the parents funding them, money flows both directions, the route that fits how this money actually moves.
Tuition flows Nigeria→Canada face CBN Form A friction and card limits; support flows Canada→Nigeria lose percent to apps; both directions are deadline-driven.
The same rail serves both directions: USDT moves family value in minutes either way, with the Nigeria side converting via Monica at the live rate. Parents fund tuition support without Form A queues; students send surplus co-op earnings home for ~$1.
Your family member (or you, on the Nigeria side) downloads Monica from Google Play or the App Store and completes KYC, BVN or NIN plus a selfie, about 4 minutes.
Inside the app, choose USDT and pick a network, TRC-20 is the popular choice for remittance because the network fee is about $1 and confirmation takes seconds to a couple of minutes.
From any exchange or wallet abroad, Coinbase, Kraken, Binance, Bybit, or a self-custody wallet, send USDT to the Monica address. The blockchain doesn't care about borders, weekends, or banking hours.
Once the deposit confirms on-chain, naira credits the Monica balance at the live rate. Bank withdrawal completes in under 60 seconds, Opay, Kuda, GTBank, Zenith, all Nigerian banks.
"My parents are retired and not tech people. They only see the Moniepoint alert, I handle the USDT side from Canada. Simple."
"First time I tried it I sent just $20 to test. It worked so fast I sent the real $800 immediately after."
"I used to lose almost ₦40,000 in fees every month on transfer charges. Switched to USDT and my mum gets the full amount in her Kuda."
"I compared everything, transfer apps, bank wire, even cash with travellers. Stablecoin transfer beat all of them on cost and speed."
Nigerian students in Canada and the parents funding them, money flows both directions.
Tuition flows Nigeria→Canada face CBN Form A friction and card limits; support flows Canada→Nigeria lose percent to apps; both directions are deadline-driven.
The same rail serves both directions: USDT moves family value in minutes either way, with the Nigeria side converting via Monica at the live rate. Parents fund tuition support without Form A queues; students send surplus co-op earnings home for ~$1.
A verified Monica account, BVN or NIN plus a selfie, about 4 minutes, and any Nigerian bank account.
About $1 in network fees per transfer, any size. 0% platform, conversion, and withdrawal fees on the Nigeria side.
Yes. Following the CBN's December 2023 reversal of the 2021 banking restriction and the SEC's Virtual Asset Service Provider (VASP) framework, with provisional licences issued to Nigerian exchanges from August 2024, receiving and converting stablecoins is legal in Nigeria.
The setup is the slow part, 4 minutes, once. Every transfer after that takes two.
Download Monica