First Bank — the legacy bank many parents and grandparents use. Money from abroad, straight to your account at the live rate.
Someone abroad sends USDT to your permanent Monica deposit address — from any exchange, any country, any time. When the deposit confirms on-chain (seconds to a couple of minutes on TRC-20), you convert at the live USDT/NGN rate and withdraw. The naira lands in First Bank in 30–60 seconds via nibss, riding the same NIBSS instant rails as any local transfer. The sender never needs your First Bank details, and you never need a domiciliary account.
Cost: the whole chain costs the sender about $1, against the 8.8% World Bank average for traditional remittances. Rate: conversion happens at the live market rate — not a remitter's payout rate. Control: money arrives as dollars (USDT) and you decide when to convert, which many families use to hold value against naira moves. And it works at 3am on a Sunday exactly as well as Tuesday noon.
"Sent $500 from the US on a Sunday night. My brother confirmed the Zenith Bank alert before we finished the phone call."
"The dollar I send is the dollar they receive. After years of watching Sendwave shave both ends, that still feels strange — in a good way."
"As a nurse abroad I send money home twice a month. The savings versus Ria paid for my flight home last December."
"My brother receives it on Monica and withdraws straight to Zenith Bank. Under a minute after the USDT confirms. Every single time."
Yes. Convert USDT to naira on Monica at the live rate and withdraw directly to your First Bank account — payout typically completes in 30–60 seconds via nibss after you tap withdraw.
30–60 seconds via NIBSS after conversion. The transfer rides NIBSS instant rails, the same system First Bank uses for regular instant transfers.
0% conversion fee and 0% withdrawal fee on Monica. The only cost in the entire remittance chain is the sender's ~$1 network fee.
No — that's a nice property of the route. The sender only ever sees your USDT address. Your First Bank account details stay inside your own Monica app.
The live USDT/NGN market rate displayed at the moment you convert. No remitter markup.
Yes. Monica supports withdrawal to every NIBSS-connected Nigerian bank and wallet — add as many payout accounts as you like.
0% fees on the Nigeria side. Live market rate. Setup takes about 4 minutes.
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