Looking to grow your money? These Nigerian investment apps offer at least 10% in annual returns

In an economy where prices seem to go up every day and the naira feels like it’s losing value by the minute, planning for your financial future is no longer an optional necessity.

These days, it’s not only about finding a better-paying job or making relocation plans like “japa” to Canada. More and more Nigerians are turning to side hustles, starting small chop businesses, and diving into online gigs. But beyond building skills or launching businesses, many people are now looking for smarter ways to make their money grow.

One of the most powerful ways to do that is by investing. Unlike just saving in a traditional bank account (where your money often just sits), investing can offer higher returns and help protect your money from inflation. It also lets you spread your money across different asset types, so you’re not putting all your eggs in one basket.

I learned this the hard way a few years ago when I could barely keep up with rising food prices and daily expenses. No matter how much I tried to save, it always felt like my money wasn’t enough.

That’s when I started exploring financial platforms not just to save, but to grow my money. What caught my attention was that some of these platforms offer double-digit APYs (Annual Percentage Yields). In simple terms, APY is how much interest you can earn on your investment in a year, and with today’s economy, that’s a big deal.

So, whether you’re just starting out or you’ve already been investing but want better returns, here’s a list of investment platforms in Nigeria that offer over 10% APY, ranked from the lowest to the highest.

1. Bamboo

Bamboo is a well-known investment platform regulated by the SEC, allowing Nigerians to invest in U.S. and Nigerian stocks. Beyond stocks, Bamboo offers fixed-return investments with up to 8% APY in USD, which is a solid option for anyone looking to save in dollars. On the Naira side, the platform offers up to 21.4% APY, depending on the savings plan.

2. Cowrywise

Much like PiggyVest (more on it down below), Cowrywise is a digital wealth management platform that caters to Nigerians looking to automate their savings and invest at the same time. The platform offers a range of low- to high-risk investment plans. APYs range from 2.5% to 15% per annum, depending on the plan, duration, and market performance.

3. CrowdyVest

CrowdyVest focuses on community-based investments that combine financial returns with social impact. Their platform features vetted projects and an "alternative offers" catalogue through CrowdyVest Yield, offering returns between 15% and 21% APY, depending on the investment package selected.

4. I-Invest

I-Invest sets itself apart with a focus on fixed-income investments—ideal for those looking for relatively lower-risk options. While you won’t find stock or crypto trading here, the platform offers returns of up to 24% APY annually, which is very attractive for investors who prioritize safety and stability.

5. PiggyVest

Initially a savings platform, PiggyVest has evolved into a comprehensive financial tool with features that include savings automation, goal-based saving, and investment opportunities through Investify.

Current APYs across PiggyVest offerings include:

• Piggybank: 18%
• SafeLock: up to 22%
• Target Savings & Flex Naira: 12%
• Flex Dollar: 7%
• Investify (PiggyVest’s investment arm): up to 35% per annum
  If you’re someone who struggles with consistent savings, PiggyVest also helps with that through its lock-in features and savings goals.

6. Risevest

Risevest is a dollar asset management platform. It offers managed portfolios in U.S. stocks, real estate, and fixed-income assets. For dollar-based investments, returns vary depending on the market. Their fixed-income option offers a fixed 10% APY. Additionally, if you’re using their Naira Wallet, you can earn between 12% and 25% APY, depending on how much you save.

7. Trove Finance

Trove stands out with its wide range of investment options of over 10,000 stocks, ETFs, bonds, and even cryptocurrencies. While it doesn’t promise a fixed APY like others on this list, in favorable market conditions, your earnings can surpass 10% APY, and in tougher times, you might see less. It’s a platform for those who like to diversify across many asset classes and are okay with a bit more risk.

Conclusion

In Nigeria, rising costs make it clear that regular savings accounts don’t cut it anymore. Investment platforms are becoming the go-to choice for many who want to grow their money steadily.

With different options to suit various risk levels, you can start small and see your funds increase over time. By staying consistent, your money can work for you, building towards a more secure financial future. The key is to start now and let your investments do the heavy lifting.

Image Credit: David Adubiina/Techloy.com