Thursday, 11th April 2024

10 legit investment platforms in Nigeria with best interest rates

By Guardian Nigeria
09 November 2022   |   3:00 am
Nigeria has several legit investment platforms. You can make money easily on Nigerian investment platforms. These platforms are responsible for providing you with well-researched assets that provide good returns on your investments. There are several trusted and safe ways to grow your money and get long-term investment rewards. Unfortunately, the average Nigerian youth has become…

Naira vs Dollar. Photo: NAIRAMETRICS

Nigeria has several legit investment platforms. You can make money easily on Nigerian investment platforms. These platforms are responsible for providing you with well-researched assets that provide good returns on your investments.

There are several trusted and safe ways to grow your money and get long-term investment rewards.

Unfortunately, the average Nigerian youth has become impatient and would rather look for means to make fast money. They prefer to indulge in activities like sports betting in the hope of making quick cash. Betting sites in Nigeria do offer the potential for making money, but that also comes with plenty of risks.

The platforms listed below are safe, secured, approved by the government and operate as per Nigerian law. These platforms also have an active support team you can contact in case you need help getting started.

The options in terms of investing vary, from cryptocurrency to dollar savings apps as well as automated savings. Most of these online investment platforms provide users with an ROI of at least 14% on an annual basis.

10 Best Investment Platforms in Nigeria 2022

While we share a list of some of the best investment platforms in Nigeria, ensure you conduct your research on these platforms before you invest. Make investments following your personal financial goals and risk tolerance. Read further to understand more about the best investment platforms in Nigeria.

Pillow Fund

Pillow Fund is a dollar savings app that helps users get the best returns on their digital assets with none of the associated hassles. Pillow Fund enables Nigerians to earn the best returns on their Naira by investing it in stablecoins. Currently, Pillow Fund offers 14% annual assured returns on investments in their dollar-saving product. Additionally, users can earn over 10% on stablecoins and over 6% on BTC and ETH.

Pillow Fund aims to make crypto and dollar savings easy for users across the globe.

Users are required to transfer currency to their Pillow Fund account to start earning

returns daily. This investment platform does the heavy lifting at the backend so you can have a seamless investment journey on the front end.

Additionally, you can start earning 14% annual returns by putting aside just 3000 NGN as your initial investment. In Nigeria specifically, the app has been praised for its ease of use and user-friendly interface. Some users have even called it a “lifeline” in these difficult financial times. Pillow has also partnered with multiple experts and advisors in the Nigerian and the broader African ecosystem who can help provide valuable financial education.


PiggyVest allows you to save and invest easily. This investment platform allows you to stop spending in excess. You can put away your additional funds and watch your money grow.

You can choose to save little amounts periodically or meet your targets by locking away funds for a specific period. PiggyVest allows you to build discipline with savings conveniently and flexibly.

PiggyVest has several savings and investment plans for differentiated needs. You can use the Piggybank if you would like to save and withdraw every quarter. You can use Target Savings to save towards specific goals like vacation or travel. If you have long-term goals, you can use SafeLock to lock away funds for a longer period. Further, you can diversify your portfolio with low-risk investment options through Investify.


Cowrywise is a legit Nigerian investment platform with an array of investment products.

Through their systematic investment plan, you can automate investments. You can invest in mutual funds in Naira or dollars. Additionally, you can start your investment journey within 1000 NGN. Note that the interest on your investments is bound to increase as the initial amount increases. All the interest or gains on initial investments are calculated every year.

Additionally, you can redeem your investments as they mature.

CowryWise was set up when the CEO realised that the country works to build wealth for the top 1% only. Investment products were inaccessible to a common Nigerian person.


Carbon offers diverse investment and personal finance solutions. You can start investing with as little as 100 NGN on the app. Assured returns can go up to 16% on Carbon. Additionally, you can customize your investment duration between 3 months to 12 months. You can set up a periodic target to achieve your goals. These can be quarterly, half-yearly or yearly.


Bamboo is another legit investment platform in Nigeria. Bamboo is an investment company that allows Nigerians to invest in 3000+ US Stocks on the go, from their smartphones. Bamboo allows Nigerians to invest using Naira or Dollars. Additionally, investments can be diversified by using ETFs. The minimum amount to start investing in the Bamboo app is 20 USD or its naira equivalent.

Additionally, you can track the value of your investments in one place.


With RiseVest, you can intuitively invest in globally-denominated assets. It is a legit investment platform that offers investment options in Real Estate, Fixed Income and Stocks. This app allows you to earn anywhere between 14% to 41% of interest per annum. There is an in-built tracker on RiseVest to track your financial progress towards your goals. You need a token amount of USD 10 to get started on the app, along with a plan and duration on how you would want to invest the money.


Trove is a Nigerian online investment platform that allows you to invest in global stocks, bonds, ETFs and other securities from your phone. You can invest in any publicly traded equity, bond or even in foreign assets. Additionally, you can invest in Naira or US Dollars. You can access over 4000+ stocks to invest in through Trove. The minimum amount required to start your investment journey is $10.

Wealth NG

Wealth NG is another online investment platform. You can explore investment options in stocks, mutual funds, real estate and treasury bulls. Additionally, you can manage and monitor the progress of your investments along with their value. You can also access financial advice and tips from wealth managers on the platforms. To start your

investment journey on Wealth NG, you need a token amount of at least 1000 NGN. Additionally, through the savings investment options, you can earn up to 7% returns on the app.

Payday Investor

Payday Investor allows investors to save money and grow returns by investing in the ARM Money Market Fund. You can track your interest on a daily basis and earn up to 15% on the app. In addition, you can automate your savings on a weekly or monthly basis. To start with Payday Investor, you need a minimum investment of 1000 NGN on the app. All funds are automatically invested in the ARM Money Market Fund which can be redeemed when the investment has matured. You can speak to investment fund managers through the platform if you face any difficulty while picking your investment goals.


Accrue is a leading online saving and investment platform in upcoming markets. Accrue is looking to make crypto accessible to the average individual. Accrue’s mission is to eliminate any barriers & increase accessibility to all possibilities available to everyday people through crypto. Additionally, this app allows one to protect their wealth from devaluation while building wealth through crypto investing.

The Risks of Investing in Nigeria?

Every emerging market has its own set of challenges when it comes to investing.

Nigeria has the potential to become one of the largest economic powerhouses of this century.

While there are numerous opportunities for investors, there are potential risks one should be wary of before investing on the platforms listed above. Some risks could be related to a macro perspective, where there is a socioeconomic issue or a political conflict that can get in the way of an individual investor’s goals. Additionally, the consistent devaluation of the naira has led investors to be more cautious with their investments.

On a personal level, risks may depend on the assets one decides to invest in. Consider your financial goals before you deposit your money on any platform and ensure that the platform will enable you to achieve your targets.

How to Minimize the Risks of Investing in Nigeria?

Risks are prevalent everywhere. To minimize the risks of investing in Nigeria, any potential investor must conduct their due diligence before stashing their money on any platform listed above.

  • Market Risk: Market risk is the most common risk in any financial market. The magnitude of risk depends on the volatility and the nature of the financial market or instrument. There are different types of risk such as equity risk, currency risk and interest rate risk that can affect different financial instruments.
  • Inflation Risk: Inflation risk is where there is a rise in prices that results in the purchasing power of individuals due to economic downturns. Most investments in this period should be made to maintain purchasing power following long-term goals. Before investing in assets during inflation, one must be mindful of the risk level their invested asset may carry. Avoid investing in heavy debt-reliant companies or stocks during an investment.
  • Concentration Risk: It is imperative to diversify your portfolio to ensure that all your eggs are not in one basket. If the whole investment amount is in one type of asset, there is a high chance of experiencing financial loss. If there is an extreme variety of assets, the correlation of returns can reduce. Investors must balance their portfolios periodically and diversify investments to avoid unforeseen outcomes and situations. Investments must be spread out across different asset classes and risk calibres.
  • Reinvestment risk: This term refers to when one cannot re-invest the principal amount due to the unavailability of better investment options. Financial assets that have very short maturity periods can generate reinvestment risk. This can be common with bonds or bank deposits as the annual interest rates are very low and the principal amount recedes constantly. Reinvesting the initial investment is essential to keep growing your wealth.
  • Liquidity risk: Liquidity is the ease with which an asset can be converted into cash. Not every asset is liquid. The inability to trade assets at a fair price is a

liquidity risk. In any case, the buyer may have to pay higher prices or the seller. may have to incur a loss. Liquidity risk is prevalent when demand and supply are not correlated. As an investor, ensure you keep an eye out for liquidity risk before making investments in the market.

How To Choose An Investment Platform in Nigeria?

Choose an online investment platform based on your financial goals and risk appetite. For example, if you think you should explore dollar savings, invest in Pillow. Similarly, Bamboo can be your best bet if you want to explore more stocks in comparison to Cowrywise which assists you with mutual funds.

Choosing the best investment platform can also rely on the returns you’re willing to accept on your initial investment.

Things To Consider When Choosing an Investment Platform in Nigeria?

Consider the asset class that you want to invest in. Nigeria has several investment platforms for different asset classes. As a Nigerian investor, you can explore investments in cryptocurrency, ETFs, equities, mutual funds, bonds, real estate or even treasury bills.

Consider the return percentages on each one of these asset classes and map it back to your financial goals. If a particular asset class help you get closer to your goal, you can start with an initial token investment amount. Grow on these investments as time passes to achieve your goal.


There are numerous online investment platforms in Nigeria. Not all of these platforms will be worth your time and money. Narrow down your choice based on your investment goals and risk appetite.

Ensure you conduct your due diligence to explore the security on each platform. Weigh out the pros and cons of each platform and make the most of your hard-earned money by making an informed decision. If you are unwilling to take big risks, invest your money in a low-risk platform. Ensure that you start your investment journey as early as possible, even if the investment amount is small.