Yes, and thousands of Nigerians do. Kuda holds a microfinance bank licence, charges no account maintenance fee, gives a set number of free transfers each day, and advertises a fixed savings product around 15 per cent. For everyday income and spending it works. Where it stops working is the moment you need something a microfinance…
Less than most people think. You can start a mutual fund in Nigeria with as little as ₦1,000 through an investment app, and some savings platforms let you begin around ₦100. Buying directly from an asset manager usually asks for more, often ₦5,000 to ₦50,000 depending on the fund and the firm. The more useful…
It can be, and it is also where Nigerians lose more money than in any other asset class. Land has produced life changing returns for people who bought in the right corridor and held, and total losses for people who paid for land the seller did not own. The difference between those two outcomes is…
Yes. Every major Nigerian bank will sell you an investment, and most people never find out because nobody at the branch mentions it unless you ask. Through your bank you can buy treasury bills, fixed deposits, mutual funds run by the bank’s asset management arm, FGN bonds, and in some cases shares through an affiliated…
Yes, you can, but it depends entirely on which type of fund you hold. A money market fund rarely loses value in naira terms. An equity fund can fall sharply in a bad year. Most Nigerians who say they lost money in a mutual fund were in an equity or balanced fund without realising it….
Yes, you can. Bamboo is an investment platform, not a savings account, and there are three separate ways to lose money on it: the shares you buy can fall, the naira can strengthen against the dollar, and fees can quietly eat a small or frequently traded balance. None of those means the app is a…
Nigerian banking apps split into two groups that behave nothing alike. Digital banks, meaning OPay, Kuda, PalmPay and Moniepoint, are built around cheap, fast transfers and charge no maintenance fee. Traditional bank apps, meaning GTWorld, Zenith Mobile, AccessMore, First Mobile and UBA, sit on top of a full commercial bank and do things the digital…
Five apps do most of the investing in Nigeria: PiggyVest, Cowrywise, Bamboo, Trove and Risevest. They are not competing for the same job, which is why comparing them on returns alone tells you almost nothing. PiggyVest and Cowrywise are savings platforms that added investing. Bamboo and Trove are brokerages that let you buy shares. Risevest…
There are five places most Nigerians can realistically put money in 2026: treasury bills and FGN bonds, money market and mutual funds, shares on the NGX, dollar assets, and property. Everything else is a variation on one of those, or it is not an investment at all. Which of them makes sense right now depends…
You can, with one qualification that matters more than any feature comparison: OPay’s strength is reach, not banking depth. With roughly 50 million downloads and an agent on seemingly every street, it solves the problem of moving money in a country where a bank branch may be an hour away. What it does not do…