“Our platform will Boost Naira Circulation to Support Nigeria’s Economic Growth”,- MD, MonicaNG

As Nigeria continues to face challenges related to currency stability, Monica.ng is playing a pivotal role in strengthening the Naira by ensuring that financial activities remain within the local economy.

By enabling Nigerians to convert cryptocurrencies like Bitcoin, Ethereum, and USDT directly into Naira, the platform is helping to increase the flow of the national currency and boost its usability.

One big issue facing Nigeria’s economy is the outflow of foreign exchange, which weakens the Naira and leads to economic instability. While cryptocurrencies have become increasingly popular, Monica is offering a solution that ensures these digital assets contribute to Nigeria’s economy rather than undermine it. Monica is helping keep funds circulating within the country by eliminating the ability to buy cryptocurrencies with Naira and focusing solely on crypto-to-fiat conversion.

Mbah Casmir, Managing Director of Monica, emphasized the company’s role in supporting the local economy: “Our goal is to make sure that Naira stays strong. By facilitating the conversion of cryptocurrencies into Naira, we are ensuring that this wealth remains within Nigeria, strengthening the currency and providing Nigerians with more financial opportunities.”

This approach helps prevent the outflow of Naira to foreign platforms, which is often the case when people convert their local currency into cryptocurrency for investment. Instead, Monica’s services allow individuals to use their converted Naira for everyday transactions such as paying bills, buying airtime, or making purchases, further promoting the use of Naira in the economy.

Casmir further explained, “We’ve already seen significant contributions to the local economy. Monica has helped bring back over N200 billion into Nigeria’s economy by ensuring that cryptocurrencies are converted into Naira, rather than fueling the demand for foreign currencies. This directly supports the government’s efforts to strengthen the Naira and manage foreign exchange rates.”

With financial inclusion being a key focus of Monica’s operations, the platform is also promoting the use of Naira for people who may have limited access to traditional banking services. By making digital financial services accessible to everyone, Monica is empowering Nigerians, from small business owners to individuals, to participate in the economy more fully.

With this, Monica is helping to ensure that Nigeria’s economic future remains strong, with the Naira at the center of the country’s financial activities. Monica is proving that digital finance can be both innovative and aligned with the nation’s goals for economic growth and stability by prioritizing local currency circulation.