How to save in dollars in Nigeria with Cleva

In today’s volatile economy, saving in naira alone is no longer enough. With rising inflation, frequent currency fluctuations, and increased access to global platforms, many Nigerians are searching for smarter ways to protect their money, grow wealth, and spend internationally.

Saving in U.S. dollars has become one of the most effective strategies to hedge against naira devaluation. Yet, volatility remains a pressing concern. According to Bloomberg, “The naira has been devalued twice since June 2023. Despite a gain in March 2024, the pressure on the economy is increasing.”

In a climate like this, how do you actually save in dollars from Nigeria—without long bank queues, endless paperwork, or hidden fees? That’s where Cleva comes in. The YC-backed fintech makes it seamless to save, convert, and spend in USD—all from your phone. With Cleva, you can create a USD account in your own name from the comfort of your home, all for free. You can also deposit naira, convert it to USD instantly, and hold or spend your dollars using a virtual USD card, right from your phone.

Why save in dollars from Nigeria?
Let’s face it, keeping your money in naira today comes with a lot of risk. The currency has experienced significant devaluation in recent years, making it harder to plan, spend, or invest with confidence.

Here’s why thousands of Nigerians are turning to dollar savings:

Preserve your money’s value over time.
Pay for international products and services without restrictions.
Avoid poor bank exchange rates and hidden conversion fees.
Reduce reliance on the unstable parallel market.

Research has shown that more Nigerians are using dollar-saving apps to protect their income from inflation and local currency volatility. Cleva fits right into this trend, offering transparent rates and free currency conversions that make saving in USD easier than ever. With Cleva, saving in dollars isn’t just smart — it’s simple. If you’re ready to protect your money and take control of your finances, here’s how to get started.

Step-by-Step: How to Convert Naira to USD on Cleva

Download the Cleva app, sign up and log in.

2. After completing your KYC and getting verified, go to the balance dropdown menu and select NGN.

3. Tap “Add funds” on the app homepage to reveal your naira account details.

5. Copy the account number displayed.

From your local bank app, send the desired amount to your Cleva NGN account.
Confirm the transfer details and complete the transaction.
Your transfer will reflect instantly in your Cleva NGN account.

4. On your NGN dashboard, tap “Convert”.

5. Enter the amount you want to convert—you’ll see the exchange rate and USD amount.

6. Tap “Continue” and the converted amount will appear in your USD wallet instantly.

You can now use your USD balance to shop, subscribe, run ads, or save—no limits, no middlemen.

Why Nigerians are switching to Cleva
Cleva isn’t just another fintech app—it’s a full payment ecosystem designed for African creatives, freelancers, and online entrepreneurs.

Here’s what you get to benefit when you use Cleva:

Get your personalized USD account in minutes.
Quick and simple KYC
Experience capped fees on your USD deposits (0.8% capped at $20)
Get the best exchange rates instantly.
Collect USD easily through ACH (e.g Paypal, Upwork) and wire transfers (all US banks)
Send and receive USD directly within Cleva using Cleva tags.
Quick withdrawals to your NGN account
Virtual dollar card for subscriptions, bill payments etc.
Fund directly in Naira and convert to USD for free and instantly.
Instant Naira to USD conversion
Zero fees for currency conversion
Reliable for ads, subscriptions, shopping, and work tools

Start saving in dollars today
It only takes a few minutes to get started. Download the Cleva app or visit the web here and start converting Naira to USD. With Cleva, you can save, spend, and grow—in dollars.