Savings are a big deal in Nigeria, with soaring inflation and a cost-of-living crisis. For young Nigerians, balancing tough macroeconomic conditions with ambitious financial goals requires innovative and accessible ways to manage money. Enter fintech startups—sleek apps that promise more flexibility and control than traditional banking systems.
But which fintech apps are actually making a difference for young people, and why? TechCabal spoke to ten young Nigerians who shared their favorite fintech tools and how these apps are helping them stay financially afloat amid uncertainty.
Kunle* 25 — Content Writer
Kunle uses PiggyVest for its convenience. ‘It is more flexible for saving and withdrawing,’’ he says. He also uses Pocket (integrated into PiggyVest) for charge-free transfers, calling the combination of both apps a seamless solution for managing his finances.
Chidi* 24 — Marketing Strategist
Chidi uses a range of bank apps to manage his money. “I mostly use VFD, Kuda, or, occasionally, GT Bank—GT feels like a family bank for me. VFD offers ease of service and responsive customer support,” he shares. “Plus, they give me monthly interest on my balance, so I don’t keep savings elsewhere.”
To manage his expenses, Chidi tracks his spending with Wallet, an app that helps him monitor both expenses and expected credits. For investments, he combines Bamboo and Risevest. “Bamboo lets me choose which companies to invest in—it’s a bit riskier and requires more financial know-how. Risevest, on the other hand, is more beginner-friendly with pre-selected portfolios,” Chidi explains.
Erivic 25 — Comic Book Artist and Creator
For Erivic, Cowrywise is the perfect platform for disciplined saving. “It consolidates all my investment portfolios in one place,” he says. He also uses Yellowcard, a cryptocurrency trading app, which he appreciates for its beginner-friendly interface that makes navigating the world of crypto easier.
Daniel 27 — Founder, SpaceBar Africa
Since 2020, Daniel has relied on Chaka, an investment app that provides access to Nigerian and U.S. stock markets. “It’s very easy to use, and their customer service is always responsive,” he says. He also saves with Rainy Day, a dollar cooperative app.
Seyi 25 — Thumbnail Designer
Seyi uses Geegpay to receive payments in U.S. dollars from international clients. “It gives me a virtual USD account, making it easy to receive payments quickly,” he says. He also appreciates the ability to convert these funds into naira at competitive rates and withdraw them to his local account.
For payments in pounds, Seyi uses Grey. “Having access to a virtual GBP account makes receiving payments from UK-based clients seamless,” he explains. To save, Seyi turns to PiggyVest. “It’s helped me build disciplined savings habits with its automated features. The ability to set specific savings goals or lock funds for a set period helps me avoid impulse spending.”
Louis 32 — Marketing Specialist
Louis turned to Opay during the 2023 cash crunch and hasn’t looked back. “I deposit my salary on the app and use it for all my spending. The user interface is beginner-friendly and efficient,” she says. To keep her finances in check, she uses MyMoney, an app that categorizes income, expenses, and transactions for better visibility.
Adora Ayodeji 21 — Student
For Adora, Opay is her go-to for everyday transactions. “It’s reliable and works well for my day-to-day needs,” she says. To track her spending, she uses Track Wallet, an app that helps her monitor and manage her daily finances.
Sophia 27 — Front Desk/ Administrative Assistant
Sophia has been using Optimus Bank for the past two years. “The higher interest rate compared to traditional banks has really helped me develop better savings habits,” she says. She also uses PiggyVest to target savings, set savings goals, and save with friends virtually. “PiggyVest has been a game-changer for me,” she adds.
Bamidele Emmanuel 22 — Social Media Manager
Though Bamidele isn’t a fan of saving unless it’s for specific goals, he uses fintech apps to manage his money. For dollar-based income, he relies on Grey to prevent overspending. He also uses Opay and Alat by Wema for saving, while Kuda helps him save larger amounts, like ₦200k.
Timileyin 24 — Journalist.
Timileyin uses Opay primarily to manage his disposable income. “Its seamless transfer system works perfectly, even with fluctuating network strength,” he says. He also relies on Fairmoney for loans. “It’s a licensed microfinance bank with decent customer service—I’ve only had one issue, but it was quickly resolved.”
Looking ahead
As Nigeria’s digital ecosystem evolves, more young people will use fintech apps for financial solutions. These tools are not just reshaping how young Nigerians save and spend but also paving the way for a more financially literate generation. Whether it’s PiggyVest for saving, Grey for international payments, or Bamboo for investment, young Nigerians increasingly rely on digital platforms to manage their finances more effectively and independently.