Piggyvest vs Risevest vs Cowrywise

Over the past few years, Nigeria has witnessed a major transformation in how people manage their finances, thanks to the rise of fintech apps. As inflation, currency devaluation, and limited access to traditional investment tools continue to affect financial planning, millions of Nigerians are now turning to mobile-based platforms to save, invest, and grow their money with ease. These digital solutions offer greater convenience, automation, and transparency — all from the comfort of a smartphone.

Among the most popular and trusted fintech platforms in Nigeria in 2025 are PiggyVest, Risevest, and Cowrywise. Each of these apps has carved a niche in the financial ecosystem by offering unique services tailored to different financial goals.

Whether you’re a young professional looking to build a disciplined savings habit, an investor aiming to hedge against naira volatility, or a long-term planner working toward financial freedom, these apps promise simplified solutions for your money.

PiggyVest is known for its user-friendly interface and solid reputation in naira-based savings, fixed deposits, and savings challenges. Risevest, on the other hand, offers access to global dollar-denominated assets like US stocks, real estate, and fixed income, making it a favorite for those looking to beat inflation.

Cowrywise blends both worlds, providing savings tools and mutual fund investments that cater to short-term and long-term financial needs.

This guide compares PiggyVest, Risevest, and Cowrywise across important factors such as interest rates, investment options, security, withdrawal terms, and ease of use.

Our goal is to help you choose the best platform based on your financial objectives — whether it’s saving consistently in naira, earning returns in dollars, or building diversified wealth over time.

By the end of this comparison, you’ll have a clear understanding of how each platform works, who they are best suited for, and which one aligns with your current and future financial goals in 2025.

Quick Overview of the Platforms

Before diving deep into features, interest rates, and user experiences, it’s helpful to get a quick snapshot of what each platform is all about. PiggyVest, Risevest, and Cowrywise may all fall under the umbrella of fintech apps, but they serve different primary purposes, operate with different currencies, and cater to varying financial goals.

Here’s a quick breakdown:

• PiggyVest is perfect for users who want to grow their money in naira through disciplined savings, safe lock plans, and short-term investment opportunities. It is fully registered with the Securities and Exchange Commission (SEC) and has built strong user trust over the years.

• Risevest offers a more global approach, helping users diversify by investing in U.S. stocks, real estate, and fixed income — all in dollars. It partners with SEC-regulated investment advisors and custodians, making it suitable for those trying to hedge against naira depreciation.

• Cowrywise stands out as a blend between savings and traditional investment. It enables users to automate savings toward goals and access professionally managed mutual funds. Like PiggyVest, it operates in naira and is regulated by the SEC.

This quick comparison helps users instantly spot the platform that might fit their needs. If your priority is local savings, PiggyVest and Cowrywise offer excellent tools. If you’re aiming for global exposure and want to earn in USD, Risevest may be the better pick.

PiggyVest: Key Features

PiggyVest has become a household name in Nigeria’s fintech space for helping individuals build disciplined saving habits and earn decent returns on their naira. Since its launch, it has grown to support over 4 million users, offering various tools that make saving money easy, automated, and rewarding.

Savings Tools

One of PiggyVest’s biggest strengths lies in its variety of savings options designed for different financial behaviors. The platform offers:

• Piggybank: Ideal for daily, weekly, or monthly automated savings.

• Safelock: A fixed deposit feature that locks funds for a set period, offering higher interest rates.

• Target Savings: Helps users save towards specific goals such as rent, travel, or education.

• Flex Naira: A flexible savings wallet that allows users to withdraw anytime while earning interest.

These tools encourage discipline and consistency while giving users complete control over how they save.

Returns and Interest

PiggyVest offers returns ranging from 8% to 13% per annum, depending on the savings feature used. Safelock, in particular, tends to offer the highest returns because it discourages early withdrawals. For users seeking safe and steady growth of their naira, this is highly attractive.

Ease of Use

PiggyVest’s mobile app is simple, intuitive, and designed for beginners. Users can easily automate their savings, monitor progress, and withdraw when needed. The app also provides savings reminders, financial tips, and a transparent dashboard that tracks interest earnings in real time.

Ideal For

PiggyVest is best suited for salary earners, students, and everyday Nigerians who want to develop consistent saving habits. Its goal-based approach makes it a great choice for those working toward financial milestones.

Limitations

While PiggyVest excels in local savings, it lacks exposure to foreign investments. Users looking to invest in dollars, U.S. stocks, or real estate will need to use other platforms like Risevest.

Overall, PiggyVest is a powerful naira-saving tool for individuals who value structure, automation, and steady growth in a secure and regulated environment.

Risevest: Key Features

Risevest is Nigeria’s leading dollar investment platform that allows users to grow their wealth by investing in stable, long-term assets across the U.S. market.

In a country where the naira consistently faces inflation and devaluation, Risevest offers an excellent alternative for individuals looking to hedge against currency risks and build wealth in USD.

Investment Options

Risevest focuses exclusively on dollar-denominated investments, giving users exposure to:

• U.S. Stocks: Shares from top-performing American companies like Apple, Amazon, and Tesla.

• Real Estate: Fractional investments in income-generating U.S. properties.

• Fixed Income: Low-risk dollar bonds that offer stable returns and capital protection.

These portfolios are curated and managed by professional fund managers, making it easier for Nigerians to access global assets without needing deep investment knowledge.

Returns and Performance

Risevest offers returns between 10% to 14% annually, depending on the asset class and market performance. Historically, the stock portfolio delivers the highest growth over time, while fixed income offers more predictable earnings. All returns are calculated in USD, making it a solid choice for those looking to escape the volatility of the naira.

Currency Advantage

Because all investments on Risevest are made in U.S. dollars, the platform provides a natural hedge against naira depreciation. This makes it ideal for users who want to preserve the value of their money over the long term, especially as inflation continues to erode naira-based savings.

Ideal For

Risevest is perfect for dollar earners, professionals planning for long-term goals, and individuals seeking to build global wealth. It’s also a great fit for people who want to protect their income from the effects of local economic instability.

Limitations

Unlike PiggyVest or Cowrywise, Risevest does not offer basic naira savings tools. It is focused solely on investments, so users looking for short-term savings or flexible withdrawals may need to pair Risevest with a savings platform.

In summary, Risevest is best for users who are serious about growing wealth in USD and diversifying beyond local options.

Cowrywise: Key Features

Cowrywise is a versatile fintech platform in Nigeria that combines both automated savings tools and access to professionally managed investments.

Since its launch, the platform has gained popularity for its structured approach to financial planning, making it ideal for beginners, disciplined savers, and Muslims seeking Shariah-compliant investment options.

Savings Tools

Cowrywise offers multiple savings plans designed to encourage consistency and discipline:

• Regular Savings: Automate daily, weekly, or monthly contributions with flexible or locked terms.

• Halal Savings Plans: Designed for users seeking non-interest, Shariah-compliant investment options.

• Emergency Funds: Helps users set aside money for unforeseen expenses, with limited withdrawal access to discourage impulse spending.

These tools allow users to save with a purpose, whether it’s for rent, travel, education, or emergencies.

Investment Options

Where Cowrywise truly shines is in its mutual fund offerings, which are accessible directly through the app. Users can choose from over 20 mutual funds, including:

• Low-risk government bond funds

• Balanced mutual funds

• Halal-compliant investment funds

The platform partners with top fund managers like Meristem, ARM, and United Capital, making it easy for users to build a diversified portfolio without needing financial expertise.

Returns and Earnings

Cowrywise investments yield 7% to 15% per annum, depending on the fund type and market performance. Conservative funds like government bonds provide steady, low-risk returns, while balanced and equity-based funds offer the potential for higher growth.

Ideal For

Cowrywise is great for new investors, people with religious sensitivities, and anyone focused on goal-based savings. Its user-friendly app educates users on finance while helping them grow their wealth gradually.

Limitations

Unlike Risevest, Cowrywise has limited exposure to international assets. Most investment options are naira-based, which may not appeal to those seeking dollar-denominated returns or global diversification.

In summary, Cowrywise is an excellent all-in-one tool for saving and investing locally, especially for beginners who want a simple, secure, and regulated way to grow their finances over time.

Side-by-Side Comparison

To help you make an informed decision at a glance, here’s a side-by-side comparison of PiggyVest, Risevest, and Cowrywise based on key features like currency type, investment options, savings tools, and regulatory compliance.

Quick Insights

• PiggyVest is ideal if you’re focused on saving and growing your money in naira. It offers structured savings plans, flexible wallets, and decent returns — all tailored for the Nigerian market. However, it lacks access to foreign assets.

• Risevest is best for users who want to invest in dollars and gain exposure to U.S. stocks, real estate, and bonds. It doesn’t offer savings features, but it’s great for long-term dollar-based wealth growth and hedging against naira depreciation.

• Cowrywise offers a hybrid model that combines goal-based savings with access to mutual funds. Its broad range of fund options (including Halal-compliant ones) makes it perfect for beginner investors who prefer a more diversified, guided approach.

Who Should Use Which?

• Choose PiggyVest if you want to build a disciplined savings habit in naira with automatic deductions and structured plans.

• Choose Risevest if you’re interested in global investing and want your money to grow in USD to guard against local inflation.

• Choose Cowrywise if you’re new to investing, want to diversify with mutual funds, or prefer a simple, educational platform that supports savings goals.

Each platform has its strengths, and depending on your financial goals — local savings, international investment, or diversified planning — one may suit you better than the others.

Which One Should You Choose?

When choosing between PiggyVest, Risevest, and Cowrywise, it ultimately comes down to your financial goals, risk appetite, and currency preference.

Each platform is designed to serve different purposes, so understanding what you want to achieve with your money will guide you to the best option.

Choose PiggyVest if…

You’re looking for a reliable way to save money in naira, build consistency, and earn interest over time. PiggyVest is ideal for:

• Salary earners who want to automate savings

• Students or first-time savers looking to build discipline

• Individuals planning for short- or medium-term goals like rent, travel, or business capital

With tools like Piggybank, Safelock, and Target Savings, PiggyVest helps you stay on track. If you’re not interested in global investments and just want to build a solid savings habit with decent returns (8–13% per year), PiggyVest is your go-to.

Choose Risevest if…

You want to invest in U.S. assets and grow your wealth in dollars. Risevest is best suited for:

• People earning in or saving towards USD

• Those looking to hedge against naira depreciation

• Long-term investors interested in U.S. stocks, real estate, or fixed income

Risevest offers exposure to global markets with potential returns of 10–14% in USD. It’s not a savings platform, but it’s perfect for wealth building and international diversification.

Choose Cowrywise if…

You’re seeking a balanced mix of savings and low-risk investments in naira. Cowrywise works well for:

• Beginner investors who want to explore mutual funds

• Users who prefer goal-based savings plans

• Muslims or individuals seeking Halal investment options

With access to 20+ professionally managed mutual funds and a return range of 7–15%, Cowrywise offers flexibility, safety, and structure for wealth growth.

In summary, all three platforms are trustworthy and regulated. Your choice should align with your financial habits: save in naira (PiggyVest), invest in dollars (Risevest), or combine both with mutual funds (Cowrywise).

Conclusion

In today’s digital world, managing your money wisely has never been easier — especially with fintech platforms like PiggyVest, Risevest, and Cowrywise leading the way in Nigeria.

Each of these apps is safe, regulated, and designed with the average Nigerian in mind, offering practical tools for saving, investing, and growing wealth.

While they all serve financial empowerment, they are not one-size-fits-all. Your ideal choice will depend on what you want to achieve with your money.

• If you need help with consistent savings in naira, especially for short-term goals or emergencies, PiggyVest is a fantastic option with structured plans and solid returns.

• If your focus is to invest in global markets, earn in U.S. dollars, and beat inflation, Risevest gives you access to U.S. stocks, real estate, and fixed income assets — all managed professionally.

• If you prefer a more balanced, low-risk investment strategy in naira — especially through mutual funds and Halal options — then Cowrywise is a perfect blend of savings and investing that’s great for beginners and goal-setters alike.

All three platforms are backed by regulatory oversight from the SEC, which ensures transparency, security, and accountability. Whether you’re just starting your financial journey or looking to diversify your portfolio, there’s something here for everyone.

So, which one fits your financial strategy?

• PiggyVest for naira savings and discipline

• Risevest for dollar investments and wealth growth

• Cowrywise for a guided mix of savings and mutual funds

Download your preferred app today and start building your financial future smartly!

Frequently Asked Questions

Which one is better, PiggyVest or Cowrywise?

Deciding whether PiggyVest or Cowrywise is “better” really depends on your financial goals, risk appetite, and preferences. Here’s a breakdown to help you decide:

Strengths & focus areas

• PiggyVest leans more toward savings discipline, flexibility, and locking money away to get higher returns. It offers multiple wallets or plans (e.g. “Safelock”, “Piggybank”, “Flex Naira/Dollar”) that suit different savings behaviours.

• Cowrywise emphasizes structured investment and exposure to mutual funds, giving you access to professionally managed funds with varying risk levels. It’s strong when you want your money invested (rather than just saved) in regulated instruments.

Interest, returns & rates

• PiggyVest gives variable returns depending on the plan. Some Safelock plans reportedly go up to ~22 % (for longer lock periods) on certain investments, while general savings are lower.

• Cowrywise offers competitive returns on its mutual funds and savings plans; depending on the fund, returns can vary and are tied to market performance.

Liquidity and withdrawal flexibility

• PiggyVest gives more flexibility: some plans (like its flexible wallets) let you withdraw any time; others are locked (with penalties if you breach).

• Cowrywise sometimes has stricter rules: withdrawals can take 1–3 business days depending on the plan. Some funds are less liquid, especially those locked in mutual funds.

User experience & interface

• Many users find PiggyVest’s app interface smoother and simpler, especially for those just starting savings.

• Cowrywise offers structured goal-oriented layouts and pushes towards consistency with its design. Some users say it’s slightly slower in support response than PiggyVest.

Risk & diversification

• Because Cowrywise leans more into investments (mutual funds, etc.), your returns depend on market performance, meaning there’s more volatility.

• PiggyVest’s “locked savings” tend to be lower risk (though still subject to systemic risks) because they are sometimes structured through debt instruments, fixed-income, etc.

Conclusion

If your priority is disciplined saving with periodic withdrawals and you favor flexibility with moderate returns, PiggyVest might suit you better. If you’re more investment-oriented, willing to accept some market risk for potentially higher gains, and you want access to mutual funds, Cowrywise could be more appealing.

You don’t necessarily have to pick just one — many people use both for different purposes. Use PiggyVest for your core savings, and Cowrywise for “growth” money you’re willing to invest.

Which investment platform is the best in Nigeria?

There’s no one-size-fits-all “best” investment platform in Nigeria, because “best” depends heavily on what you want from the platform (e.g. safety, returns, liquidity, ease of use, asset class, local vs global exposure). But we can examine what makes a platform strong and compare some of the leading contenders:

Key criteria for a “best” platform

1. Regulation & security: A platform should be regulated by relevant bodies (e.g. SEC in Nigeria) or partner with regulated custodians.

2. Transparency & fees: You want clear fees (management, withdrawal, hidden) and transparent operations.

3. Diverse investment options: Stocks, bonds, mutual funds, real estate—having many choices helps tailor to your risk tolerance.

4. Ease of use & accessibility: A clean user interface, mobile app, minimal friction in deposits/withdrawals.

5. Liquidity & withdrawal speed: Good platforms offer reasonable withdrawal times, or clarity on lock-in periods.

6. Track record & user reviews: Longevity, payouts, user trust, testimonials.

Strong platforms in Nigeria currently

• PiggyVest: Very popular, trusted for savings and modest investing.

• Cowrywise: Strong in mutual funds and wealth management.

• Risevest: For global exposure (US stocks, real estate, etc.).

• Bamboo, Chaka: Good for direct stock/ETF investing, especially globally.

• Trove: For broader exposure to local and foreign stocks and assets.

Which might be “best” for different user types

• For safety + stable returns + minimal effort: PiggyVest or Cowrywise.

• For global diversification / hedge against naira depreciation: Risevest, Bamboo, Chaka.

• For active traders: Chaka, Bamboo, Trove.

So the “best” platform for you is one that matches your goals (e.g. growth vs safety), your time horizon, your risk tolerance, and the assets you want exposure to.

What is the difference between PiggyVest and Risevest?

While PiggyVest and Risevest share the goal of helping Nigerians grow wealth, their core philosophies, offerings, and target audiences differ quite a bit.

Primary focus & market

• PiggyVest is first a savings and local investment platform. Its products are Naira-based (though it has dollar savings options). It serves those who want to save and modestly invest within Nigeria.

• Risevest is more globally tilted. It gives exposure to US stocks, US real estate, and fixed income in USD. It’s for people who want to hedge against inflation and naira devaluation by investing in dollar assets.

Currency exposure & asset classes

• With PiggyVest, your default is Naira savings or Naira-denominated investments. You can use “Flex Dollar” to save in USD, but most use is local.

• With Risevest, your assets often reside in USD instruments, so you’re insulated from local inflation and currency risk (though you accept foreign investment risk).

Entry amounts & accessibility

• PiggyVest allows small entry points (you can begin saving with relatively modest amounts).

• Risevest tends to require a dollar‐denominated minimum (e.g. $10) for many of its investment options.

Returns & risk profile

• PiggyVest’s returns are generally more conservative and tied to local instruments, with lower volatility.

• Risevest can offer higher returns via equities and real estate abroad, but with higher risk (market swings, currency shifts).

Withdrawal and liquidity

• PiggyVest offers more frequent liquidity in many of its plans (though some are locked) within Nigeria.

• Risevest sometimes has longer processing time, especially when repatriating funds from foreign investments.

In short: PiggyVest is more local-savings and moderate investing; Risevest is global, USD-asset exposure, with higher upside (and higher risk).

Is Cowrywise approved by CBN?

No, Cowrywise is not directly “approved” by the Central Bank of Nigeria (CBN) in the sense of being a bank or a deposit-accepting institution. Rather, Cowrywise is a fund manager licensed by the Securities and Exchange Commission (SEC) of Nigeria.

Some clarifications:

• Cowrywise holds users’ investment funds via custodian structures (e.g. assets are held with a third party custodian) to prevent misuse.

• The CBN’s primary regulatory domain is banking, deposit-taking, payments, etc. Investment platforms often fall under SEC regulation, not CBN.

• So “approval by CBN” is not the right benchmark for an investment platform; SEC licensure and regulatory compliance matter more.

Hence, while Cowrywise is legitimate from an investment regulation standpoint, it is not a CBN-licensed bank or deposit institution, which means the typical protections for bank deposits (like NDIC insurance) don’t apply in the same way.

Can I lose money on Cowrywise?

Yes — like with any investment platform, you can lose money on investments made via Cowrywise, depending on which funds or instruments you choose.

Here’s how:

Market risk

• Many of Cowrywise’s offerings are mutual funds, fixed income, government debt, and other assets whose returns depend on financial markets. If markets perform poorly, your investment value may decline.

• Inflation, interest rate changes, government policy shifts, and macroeconomic instability in Nigeria can all reduce real returns or even create negative returns.

Liquidity or timing risk

• If you need to withdraw during a downturn or before maturity, you may realize losses relative to what you initially invested.

• Some funds or investments may be locked for certain periods, meaning you can’t easily exit when the market is down.

Currency risk

• If you invest via assets denominated in foreign currency (if Cowrywise offers them), exchange rate movements can erode gains.

• Even in Naira-based funds, devaluation of the Naira or currency instability can reduce effective purchasing power.

Operational, platform, or counterparty risk

• There’s always the possibility of flawed management, fraud, misallocation, or administrative error.

• Although Cowrywise claims strong security, regulatory backing, and asset custody with licensed custodians, those safeguards reduce risk but don’t eliminate it entirely.

Conclusion

If you stick to the safer funds (e.g. government debt instruments), your risk is lower. But if you chase highest returns via aggressive funds, your exposure to loss rises. Always diversify, understand the funds, and only invest money you can afford to keep long term.

Is PiggyVest approved by CBN?

The question of whether PiggyVest is approved by the Central Bank of Nigeria (CBN) is often misunderstood. PiggyVest is not a traditional bank, so it does not operate with a full CBN banking license. However, it functions legally within Nigeria’s fintech framework through regulatory partnerships and compliance with financial laws.

PiggyVest is registered under the Corporate Affairs Commission (CAC) as a financial technology company that provides savings and investment services. It partners with CBN-licensed microfinance banks to facilitate safe transactions and manage user funds securely. These partner banks handle the deposits, while PiggyVest provides the technology and platform interface.

The company also claims that users’ savings are insured by the Nigeria Deposit Insurance Corporation (NDIC) through its partner banks. This means your money is indirectly protected by the NDIC, although PiggyVest itself is not directly insured as a bank would be.

Despite being secure and reputable, PiggyVest does not appear on CBN’s list of licensed deposit-taking institutions, since it’s not a bank. Therefore, it is more accurate to say that PiggyVest operates under CBN regulation indirectly through its licensed partners and complies with all relevant laws for fintech operations in Nigeria.

In summary, PiggyVest is not a CBN-licensed bank but works with institutions that are. It is legitimate and operates within the bounds of Nigerian financial regulations, but users should understand it’s still a fintech platform — not a traditional bank — and use it primarily for savings and investment purposes, not for regular banking transactions.

Which investment app is best for beginners?

The best investment app for beginners is one that offers simplicity, transparency, safety, and affordable entry requirements. In Nigeria, several apps meet these standards, but choosing the right one depends on your comfort level, risk tolerance, and goals.

When selecting an app, new investors should focus on the following key features:

1. Ease of use – The platform should be easy to navigate with a simple interface.

2. Low minimum investment – You should be able to start with small amounts.

3. Regulatory compliance – The company should be registered and use licensed partners for fund custody.

4. Clear returns and transparent fees – No hidden charges or confusing interest structures.

5. Educational support – Tutorials and guidance to help you understand investments.

PiggyVest is widely regarded as one of the best for beginners. It allows users to save automatically, lock funds for fixed periods, and invest in pre-screened opportunities. The app is simple to use, beginner-friendly, and helps you develop a disciplined saving culture before moving to riskier investments.

Cowrywise is another strong option. It focuses on mutual funds and goal-based savings, letting beginners invest with as little as ₦1000. It automates saving and investment contributions, making it easy to stay consistent.

Risevest caters more to users who want global investments in dollars, such as U.S. stocks, real estate, and bonds. While it offers excellent diversification, it may be better suited for those who already understand basic investing concepts.

Other options like Bamboo, Chaka, and Trove allow direct stock investing but can be overwhelming for complete beginners. They’re ideal for those ready to take a more active role in managing portfolios.

In summary, PiggyVest and Cowrywise are the best investment apps for beginners in Nigeria due to their simplicity, low entry barrier, and safety. Start with one of these to build a savings habit before advancing to apps that handle more complex investment options.

How reliable is PiggyVest?

PiggyVest is one of the most reliable and established fintech platforms in Nigeria. Founded in 2016, it has built a strong reputation for helping users save and invest safely. Reliability can be evaluated through its longevity, user satisfaction, security practices, transparency, and performance consistency.

1. Track record: PiggyVest has operated for years without major scandals or loss incidents. Millions of users have saved and withdrawn billions of naira successfully through the platform.

2. Transparency: It provides clear details about its savings products, interest rates, and lock-in rules. Users can see exactly how their funds are distributed across different savings plans.

3. Security: PiggyVest uses bank-level encryption and two-factor authentication to protect user accounts. It also partners with microfinance banks regulated by the CBN, and these banks are insured by the NDIC.

4. Customer satisfaction: Most reviews show that users receive their withdrawals promptly, especially on maturity dates. Occasional complaints about delayed transactions are usually due to network issues rather than systemic problems.

5. Regulation: PiggyVest works through licensed financial institutions and complies with Nigerian financial laws. While it is not a bank itself, its structure ensures a high level of accountability and safety.

6. Limitations: Like all fintechs, PiggyVest is not entirely risk-free. Savings plans such as Safelock cannot be accessed until maturity, and users must be careful to understand the withdrawal conditions. Additionally, while PiggyVest minimizes risk through partnerships, it is still distinct from a bank, meaning full NDIC coverage might not apply to all investments.

Overall, PiggyVest’s reliability is backed by its longevity, strong security measures, trusted founders, and positive user experiences. It remains one of the safest fintech platforms in Nigeria for disciplined savings and conservative investing.

What are the disadvantages of Cowrywise?

While Cowrywise is a trusted savings and investment app, it has several disadvantages users should consider before committing large amounts.

1. Limited liquidity: Many Cowrywise investment plans have fixed durations. Once you start a savings cycle or mutual fund investment, you often cannot withdraw early without penalty or delay. Withdrawals can also take 1–3 business days, depending on the plan.

2. Market-linked returns: Since most Cowrywise investments are in mutual funds, your returns depend on market performance. If the market performs poorly, your profits could drop or even result in losses. This makes it less predictable than fixed savings platforms.

3. Management fees: Each mutual fund managed through Cowrywise has its own management fees, which can slightly reduce your overall returns. These charges are usually small but can add up over time.

4. Limited investment options: Compared to global platforms like Risevest or Bamboo, Cowrywise mainly focuses on local mutual funds and fixed-income securities. If you’re seeking exposure to foreign stocks or global real estate, Cowrywise may feel restrictive.

5. No NDIC insurance: Cowrywise is regulated by the Securities and Exchange Commission (SEC) but not insured by the NDIC like traditional banks. Although funds are held by licensed custodians, this still means your investments are subject to market risk.

6. Customer service delays: Some users report slower responses from customer support during busy periods. This can be frustrating if you need urgent assistance.

7. Inflation risk: Since most investments are denominated in naira, high inflation in Nigeria can reduce the real value of your returns even if the nominal rate looks good.

In conclusion, Cowrywise is safe and effective for long-term disciplined saving, but it’s not ideal for those needing quick withdrawals, guaranteed returns, or exposure to foreign assets. Understanding these limitations helps you use the platform more strategically and avoid frustration.

How much interest does Risevest pay?

Risevest offers returns that depend on the performance of its investment portfolios, not fixed interest rates like a traditional bank. It invests users’ funds in U.S. stocks, dollar-denominated real estate, and fixed-income securities, providing diversified exposure to stable global markets.

Here’s an overview of typical return ranges:

• Stock Portfolio: Risevest’s U.S. stock investments have historically provided annual returns of around 12–15% in USD, depending on global market trends. These are higher-risk, high-reward portfolios that fluctuate based on stock market performance.

• Real Estate Portfolio: This portfolio often yields about 10–14% per year, primarily through rental income and property appreciation. It’s considered moderate risk, balancing stability with steady returns.

• Fixed Income Portfolio: This is the safest option, offering 8–10% annual returns in USD. It includes government bonds and corporate debt, which generate consistent interest income.

All these returns are in U.S. dollars, meaning they also protect investors from naira depreciation. However, they can vary from year to year based on global interest rates, property markets, and inflation trends.

It’s also worth noting that Risevest charges small management fees, which are already factored into the quoted returns. The platform provides regular updates on portfolio performance and allows investors to monitor growth through its mobile app.

In summary, Risevest’s returns typically range from 8% to 15% annually in USD, depending on the chosen portfolio and market conditions. While not risk-free, these returns are attractive for Nigerians seeking stable dollar investments and long-term wealth growth.

Who is the owner of PiggyVest?

PiggyVest was co-founded by three Nigerian entrepreneurs: Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze. Together, they launched the platform in 2016 with a mission to help Nigerians develop better saving habits and access simple investment opportunities.

• Somto Ifezue serves as the Chief Executive Officer (CEO). He has a background in product design and technology development, leading the platform’s overall strategy and innovation.

• Odunayo Eweniyi is the Chief Operations Officer (COO). She manages business operations, partnerships, and growth initiatives, ensuring smooth execution of the company’s financial goals.

• Joshua Chibueze is the Chief Marketing Officer (CMO). He oversees PiggyVest’s branding, user engagement, and communication, helping to make it one of Nigeria’s most recognized fintech brands.

These founders previously worked on a project called PushCV before creating PiggyVest (initially known as Piggybank.ng). Their vision was to encourage consistent savings among Nigerians and bridge the gap between traditional banking and modern digital finance.

Over the years, PiggyVest has grown into one of Africa’s leading fintech companies, serving millions of users. The founders are active advocates for financial inclusion, technology innovation, and youth empowerment within the African tech ecosystem.

In essence, PiggyVest is not owned by one person but by a founding team committed to helping Nigerians achieve financial discipline and independence through smart digital savings and investments.

Is Cowrywise better than PiggyVest?

Whether Cowrywise is better than PiggyVest depends entirely on your personal financial goals and how you prefer to save or invest. Both platforms are excellent fintech solutions in Nigeria that promote savings and investment discipline, but they serve slightly different purposes.

Cowrywise focuses more on structured investment options such as mutual funds and long-term financial planning. It connects users to various mutual funds managed by professional asset managers, allowing investors to grow their wealth over time.

The platform is designed for users who are comfortable with investing and are looking for steady returns over longer periods. Cowrywise also enforces saving discipline by limiting how often you can withdraw, which helps users build financial consistency.

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PiggyVest, on the other hand, emphasizes flexible savings with an easy-to-use interface. It offers savings plans like Safelock, Piggybank, Flex Naira, and Flex Dollar, giving users different options depending on their goals. It also includes investment opportunities for users who want moderate returns without handling complex investment portfolios.

When it comes to interest rates, both platforms are competitive, though PiggyVest tends to offer slightly higher fixed returns for locked savings, while Cowrywise’s returns vary depending on the performance of the funds you invest in.

In terms of liquidity, PiggyVest provides more flexibility because it allows withdrawals from certain wallets instantly, while Cowrywise often requires you to wait for your maturity date or a few business days for withdrawals to process.

Security-wise, both platforms are secure, regulated, and use bank-grade encryption. Cowrywise is licensed by the Securities and Exchange Commission (SEC), while PiggyVest operates through microfinance banks regulated by the Central Bank of Nigeria (CBN).

In summary, Cowrywise is better for long-term investors looking for structured, market-based growth, while PiggyVest is better for people focused on disciplined savings with some investment exposure. Most users benefit from using both — saving with PiggyVest for short-term goals and investing with Cowrywise for long-term wealth building.

Is my BVN safe with Cowrywise?

Yes, your BVN (Bank Verification Number) is safe with Cowrywise. The platform only requests your BVN to comply with Nigerian financial regulations and to verify your identity. This helps prevent fraud, duplicate accounts, and money laundering.

Cowrywise does not have access to your bank account through your BVN. The BVN is only used to confirm that your financial identity matches the details you provide on the platform. This is a standard practice among licensed financial institutions and fintech companies in Nigeria.

The company follows strict data protection and encryption protocols to ensure that user information is secure. All BVN details are transmitted through encrypted channels, meaning that third parties cannot access them.

Additionally, Cowrywise adheres to Nigeria’s Data Protection Regulation (NDPR), which mandates fintechs to safeguard customer information and prevent unauthorized sharing or use.

Cowrywise also partners with licensed custodians and fund managers, which adds an additional layer of security and regulatory oversight. The BVN simply helps ensure that all transactions are linked to verified individuals, reducing the risk of fraudulent activities or identity theft.

To date, there have been no credible reports of BVN misuse or data breaches linked to Cowrywise. Users can further protect themselves by enabling two-factor authentication (2FA) and avoiding sharing their login credentials with anyone.

In short, Cowrywise’s BVN request is legitimate and secure. It’s part of the standard Know Your Customer (KYC) process used by banks and fintechs to protect both the company and its users.

Who is the owner of Cowrywise?

Cowrywise was co-founded by Razaq Ahmed and Edward Popoola in 2017. Both founders brought different but complementary skills that helped shape the company into one of Nigeria’s most reliable digital investment platforms.

Razaq Ahmed, who serves as the Chief Executive Officer (CEO), has a background in finance and investment management. Before starting Cowrywise, he worked in the investment industry, where he gained firsthand experience in wealth management and asset allocation. His goal was to make investment opportunities accessible to everyday Nigerians, not just the wealthy.

Edward Popoola, the Chief Technology Officer (CTO), is an experienced software engineer. He focuses on product development, data security, and maintaining the reliability of the Cowrywise platform. His expertise ensures that Cowrywise runs smoothly and securely for its growing user base.

The company started with a mission to bridge the gap between traditional wealth management and the average Nigerian saver. Over the years, Cowrywise has attracted investments from global venture capital firms, including Quona Capital, Catalyst Fund, and Y Combinator, showing strong international confidence in its business model.

Cowrywise’s founders continue to play active roles in promoting financial literacy and innovation in Africa’s fintech industry. Their leadership has positioned Cowrywise as a leading digital investment app that encourages financial discipline, transparency, and inclusion.

Can Cowrywise be hacked?

While no digital platform is completely immune to hacking, Cowrywise uses advanced security systems to protect user funds and data, making the risk of being hacked extremely low. The company prioritizes cybersecurity and employs multiple layers of protection to ensure that users’ money and personal information are safe.

Cowrywise uses bank-grade encryption to protect all data transmissions, meaning any information shared between your device and their servers is securely encoded. It also stores sensitive information using secure servers that are constantly monitored to detect suspicious activity.

In addition to encryption, Cowrywise requires two-factor authentication (2FA) for transactions and withdrawals. This adds an extra layer of security, as users must confirm transactions through an additional verification step (usually a one-time code sent to their phone or email).

Furthermore, user funds are not stored directly in Cowrywise’s accounts. Instead, they are kept in custody by licensed trustees and fund managers regulated by the Securities and Exchange Commission (SEC). This means that even if Cowrywise’s platform were compromised, the actual funds would remain safe with these regulated custodians.

The company also conducts regular security audits and penetration testing to identify and fix potential vulnerabilities. So far, there have been no verified reports of Cowrywise being hacked or users losing money due to a security breach.

To stay safe, users should always enable 2FA, avoid sharing login credentials, and ensure they are using the official Cowrywise app or website.

In summary, Cowrywise has strong defenses against hacking. While no system can claim to be 100% hack-proof, its multi-layered security infrastructure, encryption, and regulatory safeguards make it one of the most secure fintech platforms in Nigeria.

Does Cowrywise charge for withdrawal?

No, Cowrywise does not charge users any withdrawal fees. When you withdraw your funds from the platform, you receive the exact amount you requested in your linked bank account. However, certain conditions and timelines apply depending on the type of savings or investment plan you have.

For regular savings plans, withdrawals are usually allowed only after your set maturity date. This policy encourages discipline and helps users stick to their financial goals. If you try to withdraw before your maturity date, the system may restrict you or require you to break your plan, which could affect your interest earnings.

For investment plans linked to mutual funds, withdrawal processing times typically take between one to three business days. This delay is not a fee but rather the time needed for the asset managers to liquidate your investment and remit the funds.

Cowrywise also does not charge hidden maintenance or account fees. All applicable fund management or transaction fees are already built into the mutual fund performance rates, meaning you see your net returns directly without extra deductions at withdrawal.

In summary, Cowrywise does not charge withdrawal fees, but users should be aware of withdrawal timelines and maturity rules depending on their savings plan. It’s a platform designed to promote consistent saving habits rather than frequent withdrawals.

How reliable is Cowrywise?

Cowrywise is considered one of the most reliable savings and investment platforms in Nigeria. Its reliability comes from its regulation, security systems, transparency, and consistent performance since its launch in 2017.

The platform is licensed by the Securities and Exchange Commission (SEC) as a fund manager. This means Cowrywise operates under strict financial regulations that ensure accountability, proper fund management, and investor protection. Unlike some unregulated apps, Cowrywise’s structure provides legal backing for all investments made through its platform.

Cowrywise partners with trusted financial institutions, including licensed custodians and fund managers, who hold and manage users’ investments. This setup prevents mismanagement or misuse of customer funds because Cowrywise itself doesn’t directly hold the money — it acts as the digital intermediary.

From a security standpoint, the platform employs encryption, multi-layer authentication, and regular audits to maintain system integrity. Over the years, there have been no major security breaches or reports of lost funds, which reinforces user confidence.

In terms of performance, Cowrywise has consistently provided reasonable returns through its mutual funds and fixed-income products. While returns fluctuate with market conditions, users appreciate the platform’s transparency in showing how each fund performs.

Customer feedback also highlights reliability in withdrawals and communication. Although some users experience occasional delays, these are usually minor and resolved quickly.

Overall, Cowrywise’s SEC regulation, strong partnerships, security measures, and positive track record make it one of the most reliable fintech platforms in Nigeria for disciplined saving and investing.

Is Cowrywise better than PiggyVest?

Whether Cowrywise is better than PiggyVest depends on what you want to achieve financially. Both platforms are legitimate and serve millions of Nigerians, but they cater to slightly different financial needs.

Cowrywise is more investment-focused, offering access to mutual funds and structured long-term financial planning. It is ideal for users who want to invest for growth over time and are comfortable with leaving their money locked away for longer periods.

PiggyVest, however, is designed to help users cultivate a saving habit with flexible options. It provides several savings plans like Piggybank, Safelock, Target Savings, and Flex Dollar, giving users more control over how and when they can access their funds.

PiggyVest also offers simple investment opportunities for those who want moderate returns without diving deep into complex portfolios.

When it comes to returns, Cowrywise offers variable returns that depend on market performance through its mutual funds, while PiggyVest offers fixed returns on locked savings and specific investments. PiggyVest is more beginner-friendly, while Cowrywise suits those with long-term investment goals.

In summary, Cowrywise is better for long-term investors seeking growth, while PiggyVest is better for people who prioritize flexibility, ease of access, and disciplined savings. Many users combine both—using PiggyVest for short-term savings and Cowrywise for long-term investing.

Is my BVN safe with Cowrywise?

Yes, your BVN (Bank Verification Number) is safe with Cowrywise. The platform requests your BVN as part of the regulatory Know Your Customer (KYC) process to verify identity, prevent fraud, and comply with Nigerian financial laws. Cowrywise uses bank-level encryption to protect sensitive data, ensuring that your BVN cannot be accessed by unauthorized parties.

Your BVN does not give Cowrywise or any other fintech direct access to your bank account. It only helps verify your identity and link your profile to the correct person in Nigeria’s banking system. Cowrywise complies with the Nigeria Data Protection Regulation (NDPR), which mandates strict handling and confidentiality of user information.

Additionally, Cowrywise has never been involved in any data breach related to BVN misuse. To further protect yourself, use strong passwords, enable two-factor authentication, and only access the platform through official channels. In summary, your BVN is safe with Cowrywise because it is handled securely and in compliance with Nigerian financial and data protection laws.

Who is the owner of Cowrywise?

Cowrywise was co-founded by Razaq Ahmed and Edward Popoola in 2017. These two innovators combined their expertise in finance and technology to create a platform that allows everyday Nigerians to save and invest easily.

Razaq Ahmed, the Chief Executive Officer (CEO), has a background in investment management and financial analysis. His vision was to make wealth management accessible to people who previously couldn’t afford traditional investment services.

Edward Popoola, the Chief Technology Officer (CTO), is a seasoned software engineer responsible for building and maintaining the secure and efficient technology that powers Cowrywise. His technical skills ensure that the platform operates smoothly, efficiently, and safely.

Under their leadership, Cowrywise has grown significantly and attracted global investors who believe in the company’s mission to democratize wealth creation in Africa. The founders continue to advocate for financial literacy and inclusion, helping millions of users achieve financial stability through digital investment tools.

Can Cowrywise be hacked?

While no online platform can be considered 100 percent hack-proof, Cowrywise employs strong security measures that make the risk of hacking extremely low. The company uses bank-level encryption to secure all data transmitted between users and its servers, ensuring that sensitive information cannot be intercepted.

In addition, Cowrywise stores users’ funds with licensed trustees and fund managers regulated by the Securities and Exchange Commission (SEC). This means that even if there were a breach on Cowrywise’s app, user funds would remain safe because the company itself does not directly hold the money—it is kept with independent custodians.

The platform also implements two-factor authentication (2FA), which requires users to verify transactions using a code sent to their phone or email. This feature adds another layer of protection against unauthorized access.

Cowrywise regularly performs security audits, runs vulnerability tests, and updates its systems to protect against cyber threats. So far, there have been no verified reports of the platform being hacked.

Users can further protect their accounts by enabling 2FA, using strong passwords, and avoiding sharing login information. In short, Cowrywise is highly secure, and while cyber risk can never be fully eliminated, it has put in place strong defenses to protect users’ data and funds.

Does Cowrywise charge for withdrawal?

No, Cowrywise does not charge withdrawal fees. Users can withdraw their funds directly to their bank accounts without paying any extra charges. However, withdrawal times depend on the type of savings or investment plan you have. For instance, withdrawals from savings plans can only be made at the end of your chosen saving period or maturity date.

If you try to withdraw before the maturity date, you may lose part of your interest or be restricted until the set date. For investment plans such as mutual funds, withdrawals typically take one to three business days to process. This delay is not a fee but the time required to redeem your investment from fund managers.

Cowrywise’s system is designed to promote disciplined saving and investing, not frequent withdrawals. The platform also doesn’t have hidden service or maintenance fees. Any applicable management fees are already included in the mutual fund’s performance and don’t affect withdrawal transactions.

In summary, Cowrywise allows free withdrawals but encourages users to save for the long term by setting fixed durations for certain plans. The only limitation is timing, not cost.

How reliable is Cowrywise?

Cowrywise is widely regarded as a reliable and trustworthy fintech platform in Nigeria. Its reliability stems from its regulation, transparency, security, and consistent user experience.

The company is registered and licensed by the Securities and Exchange Commission (SEC) as a fund or portfolio manager. This means it operates under strict financial laws and is subject to regular oversight.

Cowrywise’s funds are managed by licensed investment professionals and held by independent custodians, reducing the risk of mismanagement or misuse. The company uses advanced encryption technologies to protect data and employs multiple layers of authentication for user accounts.

Over the years, Cowrywise has maintained a strong reputation for timely withdrawals and dependable customer service. It also provides detailed information about each investment plan, including risk levels and past performance, allowing users to make informed decisions.

Since its launch in 2017, Cowrywise has consistently improved its services, grown its user base, and maintained a clean security record. It has never been publicly linked to fraud, mismanagement, or major system failure.

In conclusion, Cowrywise is a highly reliable platform for savings and investments. Its regulation by the SEC, transparent operations, and solid security infrastructure make it one of the most trusted fintech apps in Nigeria for anyone looking to build long-term financial discipline.

What is the cheapest investment app?

The cheapest investment app is one that allows you to start investing with little or no minimum balance and has low or transparent fees. In Nigeria, several apps fit this description, but the top options are PiggyVest, Cowrywise, Risevest, Bamboo, and Trove.

Among these, Cowrywise and PiggyVest are the most cost-effective for beginners because they have no account maintenance fees, and you can start with as little as ₦1000.

Cowrywise focuses on mutual funds and goal-based investing, which means your money is pooled with other investors, allowing you to benefit from professional management at a low cost. It doesn’t charge commissions for deposits or withdrawals, and all fees are already included in the fund’s performance.

PiggyVest, on the other hand, allows users to invest in pre-screened low-risk opportunities through its “Investify” feature. Like Cowrywise, it does not charge maintenance or brokerage fees, and you can invest small amounts depending on the opportunity.

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If you prefer to invest in foreign stocks, platforms like Risevest, Bamboo, and Trove are great choices. However, they may involve slightly higher costs, such as transaction fees or exchange rate charges when converting naira to dollars.

In summary, the cheapest investment apps in Nigeria are Cowrywise and PiggyVest, especially for those starting small. They offer low entry requirements, no hidden charges, and automated investing features that make it easy to grow your wealth gradually.

Which fund is best for beginner investors?

The best fund for beginner investors is one that offers low risk, stable returns, and easy access while helping you understand how investments work. In Nigeria, money market funds are often recommended for beginners because they provide steady income and protect your capital from high market volatility.

A money market fund invests in short-term, low-risk instruments like treasury bills, commercial papers, and government bonds. Platforms like Cowrywise and PiggyVest make these funds accessible to everyday Nigerians with small amounts.

For example, on Cowrywise, beginners can invest in mutual funds such as the United Capital Money Market Fund or Meristem Money Market Fund, which typically yield between 10% and 13% annually. These funds are managed by professional fund managers and are regulated by the Securities and Exchange Commission (SEC).

If you are just starting out, avoid high-risk options like equity funds or foreign stock portfolios until you gain more experience. Instead, focus on funds that prioritize stability and liquidity.

In summary, money market funds are the best choice for beginner investors because they are safe, easy to understand, and provide consistent growth with minimal risk. Once you are comfortable, you can explore higher-risk options for better long-term returns.

How do I avoid brokerage account fees?

To avoid brokerage account fees, you need to choose investment platforms that have no hidden charges, understand their fee structure, and manage your account smartly. Here are practical ways to avoid or minimize these costs:

1. Choose no-fee platforms: Opt for investment apps like PiggyVest and Cowrywise, which don’t charge account maintenance or management fees directly.

2. Avoid frequent trading: Every transaction (buying or selling) can attract small fees on stock-trading platforms like Bamboo or Trove, so trade only when necessary.

3. Use long-term investments: Some accounts charge inactivity fees if left idle. Consistent saving or investing helps you avoid penalties.

4. Watch currency conversions: For platforms that invest in foreign markets, limit unnecessary currency exchanges to reduce forex fees.

5. Understand mutual fund fees: With platforms like Cowrywise, management fees are already deducted from your earnings, so you don’t pay extra.

6. Read the fine print: Always review terms of service and check if withdrawal, inactivity, or transfer fees apply before you invest.

In short, the easiest way to avoid brokerage account fees is to use low-cost, beginner-friendly apps like Cowrywise and PiggyVest, invest for the long term, and stay informed about how each platform handles charges.

What are the advantages of using PiggyVest?

PiggyVest offers numerous advantages that make it one of the best saving and investment platforms in Nigeria. Its biggest strength lies in its simplicity, flexibility, and safety.

1. Automated Savings: PiggyVest helps users save automatically by setting daily, weekly, or monthly contributions. This builds financial discipline effortlessly.

2. Variety of Plans: The platform offers several savings options like Piggybank (auto-savings), Target Savings (goal-based), Safelock (fixed savings), and Flex Naira/Dollar accounts. These give users control over how they manage their money.

3. Good Returns: PiggyVest offers competitive interest rates compared to traditional banks. Users can earn between 8% and 13% annually depending on the plan.

4. Easy Withdrawals: Unlike some investment platforms, PiggyVest allows flexible withdrawals, especially from the Flex accounts, which can be accessed instantly.

5. Safe and Regulated: PiggyVest works with CBN-licensed microfinance banks and NDIC-insured partners, ensuring funds are protected.

6. Investment Opportunities: Through its Investify feature, users can invest in low-risk ventures like agriculture, real estate, and fixed income with as little as ₦5000.

7. User-Friendly Interface: The app is simple to navigate, making it perfect for beginners who want to start saving or investing without stress.

Overall, PiggyVest combines financial discipline with attractive returns, helping Nigerians achieve both short-term and long-term financial goals safely and conveniently.

How much is the breaking fee on PiggyVest?

When you withdraw funds from your Safelock plan on PiggyVest before the agreed maturity date, you are charged a 2.5% breaking fee. The Safelock feature is designed to encourage disciplined saving by locking your money for a specific period, similar to a fixed deposit.

For example, if you locked ₦100,000 for six months and decided to break it early, PiggyVest would deduct 2.5% (₦2,500) as a penalty. This discourages impulsive withdrawals and helps users stay committed to their savings goals.

Other PiggyVest savings plans like Piggybank or Target Savings may not have a direct breaking fee, but you can only withdraw on free withdrawal dates, usually once per quarter. Withdrawals outside these dates might lead to loss of interest earned.

The breaking fee ensures that users treat their locked savings seriously, similar to fixed deposits in banks. In short, PiggyVest’s breaking fee is 2.5% of the locked amount, applicable only to early withdrawals from the Safelock feature.

How much has PiggyVest paid out?

Since its launch in 2016, PiggyVest has paid out billions of naira to its users. As of recent company updates, PiggyVest has processed and paid out over ₦1.1 trillion in savings and investments to millions of Nigerians. This figure highlights the platform’s scale, trustworthiness, and consistent performance over the years.

These payouts include funds withdrawn from savings accounts, matured Safelock deposits, and investment returns from the Investify feature. The large payout volume demonstrates user confidence and the platform’s financial stability.

PiggyVest’s ability to handle such massive transactions without system failures or loss incidents further strengthens its reputation as one of Nigeria’s most reliable fintech platforms. It continues to grow rapidly as more people use it for both saving and investing.

In summary, PiggyVest has paid out over ₦1 trillion since inception, a testament to its reliability, transparency, and efficiency in helping Nigerians manage their money digitally.

Which country uses PiggyVest?

PiggyVest is primarily used in Nigeria. It was developed as a Nigerian financial technology (fintech) platform designed to help Nigerians save, invest, and manage their money digitally. The app was launched in 2016 under the name Piggybank.ng before rebranding to PiggyVest in 2019.

Its services are tailored to the Nigerian financial environment, operating under the regulations of the Central Bank of Nigeria (CBN) and partnering with NDIC-insured microfinance banks to ensure the safety of users’ funds.

While PiggyVest’s core user base is in Nigeria, it can also be accessed by Nigerians living abroad who maintain naira accounts, as long as they have valid Nigerian bank details.

PiggyVest focuses on solving local savings challenges by promoting financial discipline and providing access to secure investment opportunities. Its platform supports naira transactions only, meaning it is not yet available for full use in other countries.

However, its influence and success have inspired similar fintech models across Africa. In essence, PiggyVest is a Nigerian-owned and operated platform, built specifically for the Nigerian market, helping millions of Nigerians automate their savings and grow their wealth safely.

Is PiggyVest the best?

Whether PiggyVest is the best depends on the user’s financial goals, but it is undoubtedly one of the most trusted and effective saving and investment apps in Nigeria. PiggyVest’s strength lies in its simplicity, transparency, and strong user protection system.

It allows users to save automatically, invest in pre-vetted opportunities, and earn attractive interest rates that often outperform those of traditional banks. Its features like Safelock, Target Savings, and Investify provide flexible yet disciplined financial management options.

PiggyVest also ensures the safety of users’ money through partnerships with CBN-licensed and NDIC-insured financial institutions. Additionally, the app’s user-friendly interface and strong customer support make it ideal for both beginners and experienced investors.

However, while it’s excellent for saving and low-risk investing, users seeking higher-risk, higher-return options like stocks or crypto may prefer platforms such as Risevest or Bamboo. Still, for reliable returns, automation, and strong security, PiggyVest remains one of the best fintech platforms in Nigeria for financial growth and stability.

How long has PiggyVest been in Nigeria?

PiggyVest has been in Nigeria since 2016. It was originally launched as Piggybank.ng, inspired by the traditional “kolo” savings method but designed for the digital age.

The founders — Odunayo Eweniyi, Somto Ifezue, and Joshua Chibueze — created the platform to help Nigerians cultivate consistent savings habits and reach financial goals efficiently.

In 2019, the company rebranded to PiggyVest after expanding its services from simple savings to include investment options, thereby creating a more comprehensive financial management platform.

As of 2025, PiggyVest has operated for nine years, during which it has grown to serve millions of users across Nigeria and processed over ₦1 trillion in transactions. Its long-standing presence in Nigeria’s fintech sector has helped establish it as a pioneer and industry leader, trusted for safety, consistency, and innovation in digital finance.

What is the safest investment with the highest return?

The safest investment with the highest return depends on your risk tolerance and investment duration. In Nigeria, the safest options typically include treasury bills, money market funds, and fixed deposits, which are government-backed or low-risk financial instruments.

Treasury bills, for example, are issued by the Central Bank of Nigeria, offering returns between 10% and 13% per annum with virtually no risk. Money market funds, available through platforms like Cowrywise and PiggyVest, pool investors’ money into short-term, low-risk assets and provide returns that are both safe and competitive.

For those seeking slightly higher returns without extreme risk, real estate-backed investments and government bonds are solid alternatives. Platforms such as PiggyVest’s Investify feature also offer pre-vetted low-risk opportunities that balance safety and profit.

However, investors should note that no investment is completely risk-free — the goal is to find the best trade-off between safety and return. Thus, for a mix of safety, liquidity, and consistent returns, money market funds and treasury bills remain the best choices for Nigerian investors.

Which small fund is best?

The best small fund for Nigerian investors is one that allows you to start with little capital while still earning steady returns. Cowrywise and PiggyVest both offer excellent small investment opportunities, with entry points as low as ₦1000. For beginners, money market funds and short-term fixed income funds are the most suitable.

On Cowrywise, for instance, you can invest in the United Capital Money Market Fund or Meristem Money Market Fund, which typically yield between 10% and 13% annually with minimal risk.

These funds are managed by SEC-licensed professionals and are ideal for short-term goals like emergency funds or saving for a project. PiggyVest’s Investify feature also lets users invest small amounts in verified businesses or low-risk ventures.

If you prefer foreign exposure, Risevest’s fixed income portfolio is another solid choice, starting from as low as $10. Overall, the best small funds are those that prioritize capital preservation, provide consistent interest, and allow flexibility — making money market funds the top option for Nigerians seeking stable growth with little money.

Which mutual fund is best for the next 20 years?

The best mutual fund for the next 20 years is one that balances long-term growth, risk management, and consistent returns. In Nigeria, several options exist, but the ideal choice depends on your goals and risk appetite.

For long-term investors seeking stability and growth, equity mutual funds and balanced funds are typically the most rewarding. These funds invest in a mix of company shares, government securities, and other instruments that appreciate over time.

Over a 20-year horizon, the power of compounding and market growth can yield significant returns. Among the best in Nigeria are the Stanbic IBTC Equity Fund, ARM Aggressive Growth Fund, and United Capital Balanced Fund.

They are managed by SEC-licensed firms and have track records of steady performance. For investors using fintech platforms, Cowrywise provides access to top-performing mutual funds like the Meristem Equity Market Fund and United Capital Balanced Fund, while PiggyVest offers low-risk investment options through its Investify feature.

When investing for 20 years, consistency and diversification are key—reinvesting your dividends and avoiding emotional reactions to market swings will ensure greater returns. In summary, the best mutual funds for the next 20 years are those focused on balanced growth, managed by reputable firms, and aligned with long-term wealth creation.

Is Cowrywise better than PiggyVest?

Whether Cowrywise is better than PiggyVest depends on what you’re looking for. Both are top-tier Nigerian fintech platforms that help users save and invest money securely.

Cowrywise excels in structured investments, especially mutual funds. It gives users access to a wide range of professionally managed funds, such as money market and equity funds, which offer attractive returns depending on your risk tolerance.

It’s ideal for users who want a long-term investment plan with detailed financial insights. PiggyVest, on the other hand, is stronger in automated savings and low-risk investment opportunities.

It allows for easy goal-based savings, quick withdrawals, and flexible features like Safelock, Flex Naira, and Target Savings. While Cowrywise is more investment-driven, PiggyVest is more savings-focused.

Both are CBN-approved and use NDIC-insured partners, so your funds are safe. In short, Cowrywise is better for long-term investors seeking diversification and professional fund management, while PiggyVest is better for individuals focused on disciplined savings and fixed-income investments.

What are the disadvantages of PiggyVest?

While PiggyVest is one of Nigeria’s most trusted fintech apps, it has a few disadvantages. The first is that it’s limited to the Nigerian market and supports only naira transactions, making it unsuitable for those who wish to invest in foreign assets directly.

Secondly, interest rates may vary depending on economic conditions, which means returns are not fixed. Another downside is the breaking fee of 2.5% applied to early withdrawals from Safelock accounts, which can discourage flexibility.

Additionally, although the platform allows easy withdrawals, some savings plans limit withdrawals to specific “free” dates, and withdrawing outside these times can lead to loss of interest. Some users also find the investment options relatively conservative, as PiggyVest focuses on low-risk opportunities to protect capital rather than high-growth assets.

Lastly, PiggyVest’s reliance on internet connectivity and occasional maintenance periods can temporarily restrict access to funds. Despite these minor drawbacks, PiggyVest remains a reliable and secure tool for disciplined saving and investing.

Is Cowrywise approved by CBN?

Yes, Cowrywise is approved and regulated under the financial framework of the Central Bank of Nigeria (CBN). While Cowrywise itself is not a bank, it operates in partnership with regulated trustees and fund managers who hold the appropriate CBN and SEC (Securities and Exchange Commission) licenses.

This ensures that all financial activities on the platform comply with Nigeria’s financial regulations. Cowrywise uses Meristem Trustees Limited, a CBN-licensed trustee, to safeguard users’ funds, ensuring they remain protected even if Cowrywise ceases operations.

Additionally, the investment products on Cowrywise are SEC-approved, meaning they are legally recognized and monitored for compliance and transparency. The company’s adherence to strict financial standards provides confidence to users that their funds are safe and properly managed.

Therefore, you can rest assured that Cowrywise operates under Nigeria’s official regulatory framework, making it a legally approved and trustworthy platform for savings and investment.

Does PiggyVest pay interest monthly?

Yes, PiggyVest pays interest monthly, but the structure depends on the type of savings plan you use. For example, if you have money in your Piggybank (automatic savings), Target Savings, or Flex Naira accounts, interest accrues daily but is paid and updated monthly into your account balance.

The Safelock feature, which locks funds for a fixed duration, pays your full interest upfront immediately after activation, while your principal is released at maturity. PiggyVest’s interest rates range between 8% and 13% per annum, depending on the savings plan and duration.

For users investing through Investify, returns vary based on the specific investment type and timeline. PiggyVest’s interest system is designed to encourage consistent saving by providing predictable monthly earnings.

All interest payments are transparent and visible within the app, ensuring users can track their growth. In summary, PiggyVest pays interest monthly, with daily accruals and clear, consistent returns that outperform traditional bank savings accounts.