Piggyvest Disburses N3 Trillion in just 10 Years: How Piggyvest Changed the Way Nigerians Save
From a simple wooden box to a digital giant that has moved trillions of Naira, Piggyvest's story is really about the power of starting small. It proves that with a little discipline and the right tools, anyone can build the future they want.
Ten years ago, saving money in Nigeria felt like a choice between two worlds. You either dealt with the long queues and paperwork of a big bank, or you used a "kolo", the traditional wooden piggy bank kept under the bed.
Everything changed in December 2015 because of one tweet. A young woman shared a photo of ₦365,000 she had saved by putting ₦1,000 into a wooden box every single day for a year. That simple post sparked a conversation that eventually led to Piggyvest.
Recently, at their 10th-anniversary party in Lagos, the team shared some incredible news: Piggyvest has now paid out over ₦3 trillion to its users since it started.
From left to right: Ayo Akinola, CEO, PocketApp; Terry Kanu, Chief Product Officer; Ibukun Akinola, Director of Payments; Odunayo Eweniyi, Cofounder and COO, Piggyvest; Joshua Chibueze, Cofounder and CMO; Nonso Eagle, Chief Creative Officer; Somto Ifezue, Cofounder and CEO.
The People
₦3 trillion is a huge number, but behind that figure are real people. Today, over 6 million Nigerians use the app to reach their goals. Whether it’s a mother saving for her child’s school fees, a student buying their first laptop, or a family finally paying for their own home, these aren't just "users", they are dreamers.
The platform has grown so much that it now processes over ₦61,000 in savings every single second. Last year, that number was ₦49,000. This shows that even when things are tough, Nigerians are still working hard to secure their future. People are saving for everything from rent and weddings to starting small businesses.
Building Trust Over The Years
The journey wasn’t always easy. Co-founder Odunayo Eweniyi reminded everyone that the company started by trying to solve a simple human problem. But to grow, they had to prove they could be trusted with people's hard-earned money.
Ayo Akinola, the CEO of PocketApp, explained that working with government regulators like the Central Bank of Nigeria (CBN) helped them grow stronger. He admitted there were "tough moments" where they had to rethink how they worked, but those challenges made them a platform that millions of people can now rely on.
Looking Forward
As Piggyvest turns ten, they want to be more than just a savings app. They want to be the "financial heartbeat" of every Nigerian home.
From a simple wooden box to a digital giant that has moved trillions of Naira, Piggyvest's story is really about the power of starting small. It proves that with a little discipline and the right tools, anyone can build the future they want.
