What Investment App Should You Use In Nigeria?

There are easily hundreds of investment platforms in Nigeria right now, which makes choosing where to invest a little confusing. These are the 4 platforms I have personally tested and therefore can recommend, each one slightly different and suited for different kinds of users, so there is something for every type of investor. By the end, I will share which platform I personally use and why.

CRITERIA FOR SELECTION

Before I recommend any platform, here’s what I look for:

• They must be registered with the Securities and Exchange Commission (SEC) or partner with a licensed broker.

• Super user-friendly. If it feels like you need a degree in finance to use it, I’m not recommending it.

• Must have a mobile app.

• And lastly, they must have a good reputation. No scandals. No sketchy history.

Every platform in this lineup ticks all four boxes.

1. TROVE

Trove was founded in 2018 and partners with Sigma Securities for Nigerian stocks and DriveWealth for US stocks.

What makes Trove interesting is how it lets you invest based on themes. So if you’re passionate about green energy, women-led companies, or real estate, Trove has curated bundles that make stock-picking less overwhelming.

Features

• Invest in both Nigerian and foreign stocks
• They offer savings investments where you can lock up funds and earn high interest.
• They also offer Virtual Cards for global payments.
• Trove has a Social feature built in, where you can follow and learn from top investors. Nice touch.

2. BAMBOO

Bamboo launched in 2019, and like Trove, they let you invest in both Nigerian and international stocks. Their brokerage partners are Lambeth Capital and DriveWealth for US stocks.

Features

• Invest in both Nigerian and foreign stocks
• You have access to managed portfolios, fixed returns, treasury bills, and high-interest savings.
• Like Trove, they offer virtual cards, but that’s through a separate app called Misan by Bamboo.
• Instead of a full-blown in-app social network, Bamboo runs an active WhatsApp channel with over 123,000 followers where they drop investment updates and insights.

3. INVESTNAIJA (BY CHAPEL HILL DENHAM)

This one’s more Nigeria-focused, so if you’re only interested in local stocks, this might be perfect.

InvestNaija was launched in 2014 and is part of Chapel Hill Denham. The reason I highly recommend InvestNaija, even though I like investment platforms that allow for both Nigerian and US Stock investments, is that when MTN had their primary offer, I bought my first MTN shares, and Chapel Hill’s InvestNaija was the broker MTN used to deliver the shares, and that level of endorsement from a company like MTN made me trust and recommend InvestNaija.

Features

• Investnaija mostly covers Nigerian stocks only
• They also offer mutual funds, bonds, and a dollar income fund.
• They have a compound interest savings plan, where you earn interest on your principal as well as your interest, which is powerful.
• If you like to learn while you invest, InvestNaija has tons of educational content—articles, podcasts, videos and courses—all built into the app.

4. AFRINVEST

Afrinvest has been around since 1995. That kind of track record brings peace of mind.

They operate two different platforms:

• Afrinvestor 2.0: for Nigerian stocks, treasury bills, and commercial papers.

• Optimus: for US stocks, mutual funds, and savings plans.

The major upside of Afrinvest is that they are an OG in the game. However, the separate platforms are a major drawback if you prefer a single app for everything. But if you don’t mind juggling two apps, you get access to a full range of investment options from one of the most experienced firms in Nigeria.

Features

• Invest in both Nigerian and foreign stocks, but on two separate apps
• You have access to various savings investment plans, such as their Optiflex, Optilock, and Optitarget plans, on the Optimus app
• Invest in Mutual Funds and US Stocks on the Optimus App
• Invest in Nigerian Stocks, Treasury Bills and Commercial Papers on the Afrinvest 2.0 App

 

If you like content like this, consider checking out our YouTube channel, where we share a lot of insightful content to help you with your business. 
And also, you can comment which of these platforms you prefer and would want me to do a dedicated deep dive on, I’ll prioritze making a video on the most mentioned platform.

BONUS CATEGORY:
FINTECH INVESTMENT PLATFORMS

The next two platforms are not mainly for direct investment in Nigerian and US stocks (at least not at the moment), but they are fintech companies that partner with licensed firms to offer mostly savings and mutual fund investment options. They’re perfect for low-risk investors who care more about steady returns than trading stocks.

5. COWRYWISE

Founded in 2017, Cowrywise is perfect for beginners. It’s focused on helping you save and invest without in-depth knowledge of the investment world. Savings-oriented investments offer steady, predictable and low-risk investment opportunities, making them the perfect fit for beginners who just need to grow their money at a steady rate. Cowrywise offers exactly that.

Features.

• You can create high-interest savings plans and emergency funds.
• Invest in Naira and Dollar mutual funds.
• The app is clean, easy to use, and makes saving and investing simple.

6. PIGGYVEST

Also founded in 2017, PiggyVest partners with big names like ARM, AIICO, and Stanbic to manage investments. Much like Cowrywise, Piggyvest is mostly a savings-based investment platform rather than a full-fledged stock investment app.

PiggyVest is actually a registered fund manager with the Securities and Exchange Commission.

Features

• They offer different types of savings plans, both Naira and Dollar
• You can invest in mutual funds.

WHICH ONE SHOULD YOU CHOOSE?

I know that this list comprises of very familar names in the investment space as far as Nigeria goes, and while it might be tempting for me to sweeten up my list by recommending lesser known platforms just so the content feels fresh, it is important to remember that these platforms are popular for a reason, and since we are talking money here, you really don’t want to be too experimental with platforms. Pick one or two reliable platforms that suit your skill level, investment style and risk tolerance.

When it comes to which one to choose, you really cannot go wrong with any of the recommended options on this list, but your choice will depend on your skill level, risk tolerance and use case.

• If you plan to invest long-term and want more robust platforms that cover pretty much every kind of investment you would want now and in the future, then “TROVE” and “BAMBOO” will be the best. My personal favourite and the one I currently use the most is BAMBOO. I like Bamboo for its simplicity while still being comprehensive, covering almost all forms of investment. Some of these platforms tend to be overwhelming with too much going on, but Bamboo just feels right.

• If you are only ever interested in Nigerian stocks, Invest Naija by Chapel Hill Denham is my top recommendation.

• If you want peace of mind and want to invest in a platform with a long track record, Afrinvest will be your best bet. Plus, they have pretty much every type of investment you’d like if you don’t mind juggling the two separate apps

• And if you don’t care for shares and stocks, you are a low-risk investor who just wants a 10 to 20% return on your principal. Savings Investment platforms like Piggyvest and Cowrywise are excellent options for you.