Diaspora Nigerians making frequent small transfers — ₦50k here, ₦200k there — to brothers and sisters — the route that fits how this money actually moves.
Small frequent transfers are where percentage fees and per-transfer minimums bite hardest; $5 fees on $50 sends is 10% gone.
The ~$1 network fee is flat, but for small frequent sends the Solana or BEP-20 networks drop it below $0.10 — making a $30 transfer 99.7% efficient. Siblings with Monica accounts receive and convert in minutes.
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.
"As a nurse abroad I send money home twice a month. The savings versus Ria paid for my flight home last December."
"Sent $500 from Canada on a Sunday night. My brother confirmed the GTBank alert before we finished the phone call."
"First time I tried it I sent just $20 to test. It worked so fast I sent the real $800 immediately after."
"The rate is the real difference. Western Union pays out at their own rate; with USDT my family gets the open-market rate — that's an extra ₦15k on $500."
Diaspora Nigerians making frequent small transfers — ₦50k here, ₦200k there — to brothers and sisters.
Small frequent transfers are where percentage fees and per-transfer minimums bite hardest; $5 fees on $50 sends is 10% gone.
The ~$1 network fee is flat, but for small frequent sends the Solana or BEP-20 networks drop it below $0.10 — making a $30 transfer 99.7% efficient. Siblings with Monica accounts receive and convert in minutes.
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