1) What Monica Is

Monica is a coin to naira off-ramp. We let you convert supported digital assets (“coin”) to Nigerian Naira (NGN) and receive bank payouts. Optional tools may include bills/airtime/data payments, gift cards, betting top-ups, and similar everyday services.
We are not a broker, exchange, custodian, wallet provider, or advisor.

Supported coins (as available in-app): BTC, USDT, ETH, BNB, TRX, SOL, USDC.

2) Acceptance of Terms

By creating an account, accessing our app/website, or using any Monica service, you agree to these Terms and to our Privacy Notice. If you do not agree, do not use Monica.

3) Eligibility

You must be legally capable of entering a contract in Nigeria and use Monica only for lawful purposes.

4) Your Account & Identity Confirmation

To identify you correctly and operate the service, we collect the following from you (“Identity Data”):

• NIN (National Identification Number)

• Phone number

• Email address

• Address and basic identity fields derived from your NIN for verification

• Selfie image captured during verification (where required)

We also record limited technical and payout details used to run the service (“Operational Data”):

• Device identifiers and user agents (app version/OS)

• IP addresses and timestamps related to account access

• Bank payout details (bank name, account name, account number, payout references)

You agree to provide accurate information and keep your device and account secure. You are responsible for all activity on your account.

5) Service Description & Boundaries

• Off-ramp only. You send supported coin to a Monica-provided address; after network confirmation, we convert to NGN and pay out to your bank.

• No custody. We don’t hold user private keys or control your external wallets.

• Irreversibility & Unsupported Assets. Blockchain transfers are final. If you send the wrong asset, use the wrong network, or send to an incorrect address, we cannot recover those funds and are not liable for resulting losses.

• Rates & timing. Network confirmations, banking rails, and market conditions may affect transaction times and conversion rates. Times and rates may vary.

6) Fees & Rates

• Bank transfer fees: ₦0 since launch (subject to change—any change will be shown in-app).

• Conversion rates: The rate is shown in-app at the time you confirm a transaction. By proceeding, you accept that rate and any applicable network fees.

7) Payouts

We aim to process payouts quickly. Banking network delays, maintenance, and third-party issues may occur. Monica is not responsible for delays caused by banks, payment processors, networks, or events beyond our control.

8) Third Party Services

Billers, gift cards, and other third-party services are provided “as is.” Monica is not responsible for third-party errors, policies, or downtime.

9) Lawful Use & User Responsibility

You agree to use Monica only for lawful purposes and you are solely responsible for:
(i) the lawfulness of your activity,
(ii) the accuracy of addresses/networks/amounts,
(iii) the source of your coin, and
(iv) all taxes and obligations that apply to you.

Without limiting any other right we have, where required by law or to protect users or the integrity of the service, we may review, delay, restrict, refuse, reverse, or place limits on transactions or account features, and provide information to competent authorities. These actions may occur without prior notice and do not constitute any promise that prohibited or wrongful activity will be detected, prevented, blocked, reversed, or remedied. You agree to co-operate with lawful requests for information or documents.

You acknowledge Monica is an off-ramp and not an exchange, broker, custodian, or advisor; we do not hold your private keys and we do not control your external wallets.

10) Privacy & Data Use (Summary)

We collect Identity Data and Operational Data listed in Section 4 to:
(a) confirm your identity,
(b) operate and improve the service,
(c) communicate with you, and
(d) comply with legal obligations.

We do not verify or request information via social media DMs. Verification happens only inside the Monica app. For more details, see our Privacy Notice in-app/website.

11) Information Sharing Requirements

Where required by applicable law or information-sharing obligations, we may share limited identity/payment information we hold with competent authorities or authorized counterparties. Disclosures are limited to what is necessary and lawful.

12) Availability & Maintenance

We work to keep Monica available 24/7, but availability is not guaranteed. Outages, maintenance, or third-party failures can occur. We may modify, suspend, or discontinue features at any time.

13) Prohibited Conduct

You may not use Monica to: violate laws/regulations; infringe rights; bypass or probe security; disrupt service; misrepresent identity or submit another person’s NIN; or engage in conduct that harms users or Monica. We may restrict or close accounts that violate these Terms or the law.

14) Disclaimers

No advice. Nothing in Monica is financial, investment, legal, or tax advice.
No warranties. The service is provided “as is” and “as available.” To the fullest extent permitted by law, we disclaim all warranties, including for uninterrupted access, specific processing times, market rates, or recovery of mis-sent funds. We make no representation or assurance that any attempted or completed fraudulent, unlawful, or unauthorized activity will be detected, prevented, blocked, reversed, or remedied.

15) Limitation of Liability

To the maximum extent permitted by law, Monica, its affiliates, officers, employees, and agents will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or any loss of profits, data, goodwill, or opportunities, arising from or related to your use of Monica.

Our total aggregate liability for any claim is limited to the lesser of: (a) the NGN value of fees you paid to Monica in the three (3) months before the event giving rise to the claim; or (b) ₦100,000. Some jurisdictions don’t allow certain limitations; in that case, the limitation applies to the fullest extent allowed.

16) Indemnity

You agree to indemnify and hold Monica harmless from any claim, loss, or cost (including reasonable legal fees) arising from your unlawful use, your violation of these Terms, your mis-addressed or unsupported-asset transfers, or your failure to comply with legal obligations.

17) Suspension & Termination

We may suspend or terminate access at our discretion (including for legal reasons or suspected violations). You may stop using the service at any time.

18) Changes to Terms

We may update these Terms at any time. Changes take effect when posted in the app/website. Your continued use after changes means you accept the updated Terms.

19) Governing Law & Disputes

These Terms are governed by the laws of the Federal Republic of Nigeria. Disputes will be resolved by the courts of Lagos State, unless otherwise required by law.

20) Law Enforcement Requests

Competent authorities may contact [email protected] with formal requests. We respond to valid legal process from competent authorities and, where lawful and necessary, can provide only the information we hold, which may include:

• Identity Data: NIN, phone number, email, address and basic identity fields derived from NIN, selfie image (if collected)

• Operational Data: IP addresses, device identifiers/user agents, account creation/login timestamps

• Service records: deposit addresses generated by Monica, transaction timestamps/amounts, bank payout details (bank name, account name, account number, payout references) relevant to conversions via Monica

We can preserve records upon written request from a competent authority. Asset freezes/transfers require an appropriate freezing order or other valid legal authority. Data is transmitted via secure channels (e.g., encrypted archive with out-of-band key exchange).

21) Definitions

“Coin” means supported digital assets shown in-app. “You” means the user of Monica’s services. “Bank payout” means NGN transfers to bank accounts you designate in-app.