Top fintech apps powering Nigeria’s investment boom

Nigeria’s retail investment is undergoing a major transformation, driven by fintech platforms that are democratising access to stocks, mutual funds, fixed income securities, and global markets.

As inflation, naira volatility, and rising interest rates reshape financial decisions, millions of Nigerians are turning to mobile investment apps for wealth creation.

Industry data and company disclosures show that platforms such as Bamboo, Risevest, Cowrywise, Trove, and Chaka are processing billions of naira and tens of millions of dollars annually, which signals growing investor confidence and adoption.

Nigeria’s retail investment is experiencing a significant boom in early 2026, driven by a combination of rapid digital adoption, structural economic reforms, and a record-breaking performance of the Nigerian Exchange (NGX). Following a 51.2 per cent return in 2025, the market entered 2026 with the NGX All-Share Index hitting an all-time high of 165,837.33 points, with total market capitalisation crossing the N100 trillion mark.

Retail participation is accelerating through mobile forex apps and investment platforms, which allow younger, tech-savvy Nigerians to invest with amounts as low as N5,000.

“We are well-positioned to support inflows. Over the past year, we have strengthened our infrastructure to handle higher transaction volumes, improve execution efficiency, and enable real-time reporting,” said Oluwatomi Solanke, CEO of Trove Finance.

“The acquisition of UCML Securities significantly enhances our regulated capacity, deepening our broker-dealer capabilities and giving us greater control across execution, custody coordination, and compliance oversight.

“We have also invested heavily in compliance architecture from enhanced KYC/AML monitoring to tighter risk controls and regulatory reporting, ensuring growth is matched with discipline and regulatory integrity,” Solanke said.

Eke Urum, the founder and CEO of RiseVest Technologies, said, “We plan to grow and expand that access, including making it easier for diaspora users to come into Nigerian markets.

“Our offerings are expanding locally because we see that since 2023, the policies implemented by Cardoso’s CBN have created massive opportunities in Nigeria because now we have massively undervalued assets and improving fundamentals,” Urum said.

“It’s a good time to expand our Nigerian offerings and provide retail investors opportunities to get into higher barrier sectors like private equity, venture capital, and high-value real estate. We will be rolling out funds in this space soon,” he added.

Bamboo

Bamboo is a Nigerian digital brokerage firm with over 500,000 registered users, expanding its services to other countries. The platform enables users to trade over 3,500 US and Nigerian stocks, ETFs, and access fixed income products, with, as of April 2024, over 100,000 active investors.

According to Bamboo Invest, the firm charges specific fees for transactions, depending on if you are trading US or Nigerian stocks and the payment method used.
For U.S. stock transactions, the trade commission is 1.5 percent per buy or sell order. Minimum charge is $1 (If 1.5 percent of your trade is less than $1, you will be charged $1).

Risevest

Risevest, an investment platform, reports having over 600,000+ users. The platform enables users to invest in US-based assets, including real estate, stocks, and fixed-income plans, with a minimum investment of $1.

However, as of early 2025, the SEC Nigeria has warned that the company is not registered with them to operate in the capital market.

Risevest charges a management fee of 0.5 percent to 2 percent on investment returns, depending on performance, and up to 3.9 percent on deposits. They generally charge 0.5 percent annually on assets under management (AUM). No fees are charged if returns are 10 percent or less. Other fees include transaction fees and $3 monthly account maintenance.

Cowrywise

Cowrywise has grown to over 500,000 active users, with some indicating they have reached over two million customers in Nigeria. As of 2021, they had over 300,000 users and continued rapid growth by securing over 1 million users by 2023.

The company has actively been focusing on expanding beyond its first million users, particularly targeting the underserved middle class and millennials.

Cowrywise generally does not charge direct management fees for savings, but charges a 1.5 percent processing fee (capped at N2,000) for Naira mutual fund investments and emergency plans. This fee is primarily for payment processing, not a direct fee from Cowrywise itself, which is aimed at making investment accessible.

Trove Finance

“We have 400,000 registered users, and charge 1.35 percent plus regulatory fees on Nigerian stocks, 1.5 percent commission per U.S trade alongside minimal funding charges, which are mostly fees charged by our payment processors. We have over 5,000 listed assets across multiple markets on our platform, which are Nigerian, US, and Chinese stocks,” Solanke, CEO of Trove Finance, said.

“We have processed over N500 billion in trades, mostly routed through partners. We recently acquired another long-standing broker-dealer firm (used to be owned by Union Bank),” he stated.

Trove Finance typically charges a 1.5 percent commission fee on investments. It allows users to start investing in Nigerian and U.S. stocks, ETFs, and bonds with a minimum deposit of N1,000 or $10. There is also a $2 one-time fee to create a virtual card for spending.

Chaka

Chaka, a Nigerian SEC-licensed digital investment platform, serves over 100,000 African users. The platform provides access to over 4,000+ stocks and ETFs from the Nigerian Stock Exchange, NASDAQ, and New York Stock Exchange, enabling users to invest in the US, UK, and other international markets.

Chaka charges a 1 percent commission for buying or selling global (US) stocks, with a minimum fee of $2 for transactions below $200. For local Nigerian stocks, the commission is 0.5 percent or a minimum of N100. There are no account opening, maintenance, or hidden deposit fees, though regulatory fees apply for local stocks.