Founder and Chief Executive Officer of Monica.Cash, Mbah Casmir.
Digital payment stakeholders have called for regulatory and financial frameworks that promote innovation, strengthen consumer confidence and support responsible participation as millions of Nigerians increasingly adopt informal digital dollar assets to preserve purchasing power, facilitate payments and manage exchange rate volatility.
This followed a new financial analysis that identified the rapid emergence of an informal digital dollar economy in Nigeria, with individuals and businesses increasingly using dollar-backed digital assets such as USDT and USDC for savings, commerce and cross-border transactions outside conventional banking channels.
According to the analysis, the trend has evolved beyond cryptocurrency adoption into a broader shift in financial behaviour, reshaping how Nigerians store and exchange value and creating new policy considerations for regulators, financial institutions, investors and businesses.
Founder and Chief Executive Officer of Monica.Cash, Mbah Casmir, said the growing use of digital dollar assets reflected a fundamental change in how Nigerians viewed money and financial security.
