The town is printing and minting its own 'One Direction' themed legal tender called 'The Gar' with Niall's beaming visage on one side of the crisp bank notes.
Mullingar's "tourism currency" will be minted by the local chamber of commerce which is issuing a 10,000 special edition run of Niall Horan Gar notes.
This is bound to be huge news for Directioners the world over, who will beg, borrow and steal to get their hands on the green stuff.
Shoppers using the Niall Horan Gar will be entitled to special offers at the town's participating outlets from the beginning of the New Year.
Chamber president Pat Whelan said "the Gar has been in circulation since 2011 and we decided it would be great to honour Niall by releasing a special edition Gar with Niall's face".
"We are all 'One Direction' fans and we are proud to see one of our young men from the town doing so well for himself," Mr Whelan added.
The Gar has previously featured Olympic silver medallist John Joe Nevin and one-time Mullingar resident James Joyce.