The South African Social Security Agency (SASSA) was established by the South African government in 2005 under the Social Assistance Act of 2004, with the primary goal of administering and managing the payment of social assistance grants to the country’s poor and vulnerable citizens.

SASSA handles everything from processing applications and checking eligibility to paying grants and fraud prevention. Its centralised system is designed to make it easier for South Africans to access support once they qualify.

The types of SASSA social grants

SASSA offers different grants depending on your situation. SASSA pays 26-million grants monthly to help reduce poverty and hardship. The central grants include:

Support for children and caregivers

• Child Support Grant (CSG): For the primary caregiver of a child under 18.
• Foster Child Grant: For people legally appointed as foster parents.
• Care Dependency Grant: For caregivers of children under 18 with severe disabilities.

Support for adults

• Older Persons Grant: Also known as the state pension, for South Africans aged 60 and above.
• Disability Grant: For individuals aged 18 to 59 with a disability that prevents them from working.
• War Veteran’s Grant: For former members of the armed forces.
• Grant-in-Aid: Extra support for people already receiving a central grant but who need full-time care.

Temporary support

• Social Relief of Distress (SRD) Grant: Often called the SASSA R350 grant, this temporary grant is for unemployed people with no other source of income or social assistance.

How to apply for the SASSA SRD R350 grant

The Social Relief of Distress (SRD) grant, often called the SASSA R350 grant, was first introduced during the COVID-19 pandemic to help unemployed South Africans. In 2025, the amount has increased to R370 per month. This shows that the government now treats it as more than just short-term help; it is ongoing support for people without income.

Eligibility requirements for 2025

To qualify for the SRD grant in 2025, you must meet these conditions:

• Be a South African citizen, permanent resident, refugee, asylum seeker, or special permit holder living in South Africa.
• Be between 18 and 60 years old.
• Be unemployed and not receiving any other SASSA grant, UIF payments, or NSFAS funding.
• Pass the means test, which checks that your monthly income is R624 or less.

Step-by-Step online application (2025)

You can only apply online. Applications are free, and SASSA warns people not to pay anyone to apply on their behalf. Here’s how to do it:

1. Visit the official SRD website at srd.sassa.gov.za.
2. Select your ID type: Choose if you’re a South African ID holder or applying with an asylum/special permit.
3. Enter your phone number: You’ll get a One-Time Pin (OTP) to confirm your identity.
4. Fill in your details: Provide your ID number, full name, and contact information.
5. Choose a payment method: Payments can go into your bank account or be collected at stores like Pick n Pay or Shoprite.
6. Submit your application: Double-check your details before submitting. SASSA will then check your financial records against government and banking databases.

How to check your SASSA status online

After applying, you’ll want to know if your grant is approved and when payments will be made. You can check your SASSA SRD status using any of these official methods:

• SRD website: Visit srd.sassa.gov.za, enter your ID number and phone number, and view your application status.
• WhatsApp: Send “status” to 082 046 8553, then follow the prompts.
• USSD code: Dial 1347737# on your phone, then enter your details.
• SASSA Call Centre: Call 0800 60 10 11 to speak with an agent who will verify your details and confirm your status.
• Moya App: Download the Moya App to check your SRD status without using mobile data.

How to change your SASSA banking details

Keeping your SASSA banking details up to date is essential to avoid interruptions in your grant payments. The update process depends on the type of grant: SRD grant recipients can update details online, while those on permanent grants — such as the Older Person’s Grant, Disability Grant, or Child Support Grant — must visit a SASSA office. 

Changing banking details for the SRD grant (Online)

If you are an SRD grant beneficiary, you can update your banking details through the official SRD website. Here’s how:

1. Go to srd.sassa.gov.za.
2. Select the “Change Banking Details” option.
3. Enter your South African ID number.
4. Provide your new bank name, account number, and any other required details. Double-check for accuracy to avoid payment delays.
5. An OTP will be sent to your registered mobile number. Enter it to confirm.
6. Submit your changes and wait for a confirmation message.

Changing banking details for permanent grants (In person)

For permanent grants, the process is manual. You’ll need to go to a SASSA office with the proper documents.

1. Collect the SASSA banking details change form from their website or any SASSA office.
2. Fill it out with your personal details and new account information.
3. Attach a certified copy of your ID plus a bank statement or a letter from your bank confirming your account.
4. Submit everything at a SASSA office and keep copies for yourself.

How to change your SASSA phone number

Your phone number is just as significant as your bank details. SASSA uses it for verification, OTPs, and updates about your grant. If you change your number, please update it with SASSA as soon as possible.

Updating your number online

You can do this through the SASSA Services Portal:

1. Log in at services.sassa.gov.za.
2. Select “Manage My Personal Information.”
3. Update your phone number and other details.
4. Save the changes. An OTP will be sent to your new number. Enter it to confirm.

If you lose access to your number

If you no longer have access to your registered number, you cannot update it online. In this case, you must go to a SASSA office in person to make the change.

How to check your SASSA balance

You cannot check your SASSA balance directly on the official website. Banks and payment partners handle balance checks. Here are the most common ways:

• ATM: Check your balance at any ATM (some banks may charge a small fee).
• Retail stores: At Shoprite, Pick n Pay, Boxer, and other approved stores, you can ask for a balance check at the till.
• SMS (Postbank users): Send BAL + last four digits of your account number to 32302. You’ll get your balance via SMS. This costs R1.00.
• USSD (EasyPay Everywhere users): Dial *120*3737# and follow the prompts to view your balance.

SASSA payment dates for October 2025

SASSA releases grants on set days each month to avoid overcrowding at pay points, ATMs, and stores. Payments are made on working days only. If a date falls on a weekend or public holiday, the money becomes available on the previous working day.

• Older Persons’ / Pensioners’ Grant: Thursday, 2 October 2025
• Disability Grant: Friday, 3 October 2025
• All Other Grants (including Child Support Grant): Monday, 6 October 2025

Funds stay in your account until you withdraw them. There is no need to rush on the first day.

SASSA child support grant amount for 2025

The Child Support Grant (CSG) helps caregivers cover the cost of raising children. In 2025, the monthly amount is R560 per child. Caregivers of orphaned children can also receive a top-up, which increases the monthly payment to R810 per child.

Who is eligible for the Child Support Grant?

To qualify, both you and the child need to meet certain conditions:

Caregiver requirements:

• You must be a South African citizen, permanent resident, or refugee.
• You must be the main person responsible for the child, such as a parent, grandparent, or relative.
• Your income must pass the means test: if you are single, you must earn less than R52,800 a year. If you are married, your combined income must be under R105,600 a year.

Child requirements:

• The child must be under 18.
• The child must not live in a state institution.
• Both you and the child must live in South Africa.

SASSA old-age grant amount for 2025

The Older Person’s Grant, also known as the state pension, provides financial support to South Africans who have reached retirement age. For 2025, the grant is set at:

• R2,315 per month for beneficiaries under 75
• R2,335 per month for beneficiaries aged 75 and older

Who qualifies for the Old Age Grant?

To receive the Older Person’s Grant, you must meet these requirements:

• Be 60 years or older
• Be a South African citizen, permanent resident, or refugee living in South Africa
• Not receive another social grant or live in a state-funded institution

Means test: Your income and assets will be reviewed to confirm your qualification. The grant is intended for individuals who are unable to support themselves fully.

It is important to note that if an applicant is married, the combined income and assets of both spouses are assessed jointly.

Key points for beneficiaries in 2025

Here are the most important updates you should know:

• The SRD grant remains at R370 per month, and applications are done only online.
• You can check your SASSA status through the website, WhatsApp, or USSD.
• Banking detail changes depend on your grant type. SRD beneficiaries update details online, while permanent grant beneficiaries must go to a SASSA office.
• Your phone number is central to your profile. If you lose it, you must visit a SASSA office to update it.
• October 2025 payment dates: Older Persons’ Grant on 2 October, Disability Grant on 3 October, and all other grants (including Child Support) on 6 October.
• The Child Support Grant is R560 per child or R810 with the orphan top-up.
• The Older Person’s Grant is R2,315 per month, with R2,335 for those aged 75 and above.

Finding the right data plan in Nigeria can be challenging, prices continue to rise, and network quality varies across different locations. That’s why we’ve put together this comprehensive guide to help you make an informed decision.

In this piece, we compare the best data plans in Nigeria, examining closely the price, value for your money, and overall network quality, based on what people are experiencing. Here are our top picks:

• Best budget monthly plan – Glo 3.9GB for ₦1,000: This plan offers a great price, but as Ugochukwu, a consultant who recently relocated to Lagos from Abuja, found, Glo’s network strength can be inconsistent, depending on exactly where you are. He noted, “Glo was good in my specific area in Abuja, but I’m still figuring out if it holds up where I am now in Lagos.”
• Best for heavy mobile users – Airtel 200GB for ₦20,000: This is a solid choice for those who consume a large amount of data. However, as Jennifer, who just returned from the UK, quickly learned, “You really have to make sure Airtel’s signal is strong in your specific area; there’s nothing worse than paying for big data you can’t properly use.”
• Best weekly plan – 9mobile 7GB + 100MB for ₦1,500: This plan offers good value, but some users, including Favour in Abuja, mentioned that 9mobile’s service can be weak in specific locations. “It’s a good price,” she said, “but if the signal isn’t there, it’s useless for my business.”
• Best unlimited home WiFi – FibreOne 30Mbps for ₦16,914: This option offers no data limits, a huge plus for someone like Moses, an HR professional at a digital marketing agency, who needs constant connectivity for video calls and file transfers. He said, “No data limits is a dream, but you need to check if it’s available in your city and watch out for setup fees.”

Daily data plans

Daily plans are great if you need data for just a short time, maybe to reply to messages, check a few things online, or hold you until payday. They don’t offer the best value per MB, but they help when you’re low on cash or just need a quick top-up.

What the networks are offering (as of July 2025):

MTN

• 75MB for ₦75
• 110MB for ₦100
• 230MB for ₦200
• 1GB for ₦500
• 2.5GB for ₦750
• Social bundles: Facebook (20MB for ₦25), WhatsApp (40MB for ₦50), TikTok (150MB for ₦50)
• 2-Day options: 3.2GB for ₦1,000, 2GB for ₦750

Glo

• 45MB for ₦50
• 105MB for ₦100
• 235MB for ₦200 (2 days)
• 1GB for ₦350
• 2GB for ₦500 (includes bonus night data usable from 12 AM to 5 AM)

Airtel

• 75MB for ₦75
• 100MB for ₦100
• 200MB for ₦200 (2 days)
• 300MB for ₦300 (2 days)

Note: Airtel no longer offers weekend bundles. Their current plans are priced at ₦1 per MB.

9mobile

• 40MB for ₦50
• 83MB + 50MB for social apps at ₦100
• 150MB + 100MB night data for ₦150
• 1GB + 100MB social for ₦300
• 3-day plan: 2GB + 100MB social for ₦500

What people are saying

We spoke to many users across different cities who consistently highlight how easy it is to quickly grab these small daily bundles, especially when their budget is tight. 

“It’s not about getting the most data, it’s about staying connected when you need to,” explained Tomiwa, who sometimes buys a daily plan if his main bundle runs out unexpectedly.

The social media bundles, particularly WhatsApp for ₦50, are incredibly popular for quick chats and updates. “I just need to keep up with family messages and a few group chats, so ₦50 for WhatsApp is perfect for me when I’m on the go,” shared Favour, stressing how vital quick social access is for her thrift business. 

Even with the low data limits, most customers continue to buy these plans because they are genuinely affordable and offer the much-needed flexibility. It’s all about meeting immediate needs without overspending.

Weekly data plans in Nigeria (July 2025)

Weekly data plans are a wise choice if you don’t want to commit to a monthly bundle or spend money on daily top-ups. They provide more data for your money and are ideal when your usage fluctuates week to week, such as when you have projects, travel plans, or simply want to manage your spending.

Best weekly plans right now

MTN

• 1.2GB for ₦700 (MTN Pulse only)
• 1.5GB for ₦1,000
• 11GB for ₦3,500
• MTN also offers ₦50 bundles for Facebook, WhatsApp, or Ayoba (40MB), as well as a free 300MB education plan.

Glo

• 1.5GB for ₦500
• 3.5GB for ₦1,000 (includes 2GB bonus night data)
• 8.5GB for ₦2,000, 20.5GB for ₦5,000
• Bonus: 1.1GB for ₦750, valid for 14 days.

Airtel

• ₦1,000: 1.5GB + 2GB YouTube Night + 200MB for YouTube, IG, TikTok
• ₦1,500: 3.5GB + bonuses
• ₦2,500: 6GB + bonuses
• ₦3,000: 10GB + bonuses
• ₦5,000: 18GB + bonuses

9mobile

• 7GB + 100MB Social for ₦1,500 – One of the best weekly options based on value.
• 2GB for ₦500 – Valid for 14 days.
  

What people think

When we spoke to people who prefer weekly bundles, Glo often came up as an offering that provides solid value, especially for heavy users. 

“Glo’s weekly plans feel like you get more for your money, especially with the night bonuses,” Ugochukwu mentioned, thinking of how he might use a weekly plan when visiting family outside Lagos. 

Airtel’s plans were a big hit among YouTube and TikTok fans, who specifically mentioned the video bonuses. “I burn through data watching tutorials and creating content,” said Nkem, the online business owner, “and Airtel’s bonuses for YouTube and Instagram are really helpful.”

Monthly data plans in Nigeria (July 2025)

Monthly data plans are a solid choice if your internet usage remains consistent each month. They usually give you more data for less money per MB and are ideal if you work from home, study online, stream content, or share data with your household.

Top monthly plans right now

MTN

• 2GB for ₦1,500
• 7GB for ₦2,000
• 10GB for ₦4,500
• You can roll over unused data if you renew your plan before it expires.
• MTN also has 120MB for Facebook or WhatsApp at ₦150 (valid for 30 days).

Glo

• 2.6GB for ₦1,000
• 10GB for ₦2,500
• 50GB for ₦10,000
• 107GB for ₦20,000
• Mega options: 135GB (₦25,000), 165GB (₦30,000), 220GB (₦40,000), and even 1TB (₦150,000 for 1 year)
• Many plans come with bonus night data.

Airtel

• 8GB for ₦3,000
• 10GB for ₦4,000
• 13GB for ₦5,000
• 18GB for ₦6,000
• Mega plans: 23GB for ₦6,000, 45GB for ₦6,000 (with daily usage caps)
• Most come with bonus night data or platform-specific bonuses.

9mobile

• 1GB for ₦1,000
• 5GB Night Plan for ₦2,000
• Up to 27.5GB for ₦18,000
• Get bonus data for 12 months when you buy a monthly plan of ₦ 1,500 or more with a new smartphone.
  

What people are saying

From our conversations, users value the stability that comes with monthly plans, especially if they are already familiar with their data usage. Moses said, “It’s just less stress when you know your internet is sorted for the whole month.” MTN is frequently praised for its reliable speed in many locations. 

“MTN just works for me; the speed is consistent, which is crucial for my video calls,” Ugochukwu confirmed. On the other hand, Glo was often picked for its bigger bundles at lower prices. Nkem said, “For the amount of data I need for my business, Glo gives me the most value for money, even if I have to manage the network sometimes.” 

Some heavy internet users, like Moses’s colleagues in digital marketing, mentioned spending as much as ₦90,000 a month just to stay online for demanding tasks.

While prices have gone up, many people we spoke to acknowledged that network providers are also working hard behind the scenes to improve their services, building new data centres, expanding 4G and 5G coverage, and upgrading their infrastructure. That’s part of why plans are more expensive. Still, people are hoping these investments will lead to even better deals down the line.

Unlimited monthly data plans in Nigeria

When a provider says “unlimited data” in Nigeria, it usually doesn’t mean you can browse freely without limits. Most of the time, there’s a Fair Usage Policy (FUP). This means that once you use a certain amount of data, your internet speed may slow down, sometimes to the point where it’s difficult to stream or browse smoothly. It’s a common frustration, as many users, including Jennifer, shared after returning from the UK, where “unlimited” often truly means unlimited.

Top “Unlimited” internet options in July 2025

Truly unlimited options (No FUP):

• MTN FibreX – MTN clearly states there’s no fair usage policy on its FibreX plans. Speeds don’t drop after heavy usage, even during busy hours. You also get free installation and a router.
• FibreOne – Plans like 30Mbps for ₦16,914 come with no speed limits or usage caps. Very popular in cities.
• Tizeti – ₦12,500 for 30 days. Also claims to have no data caps or limits, but setup costs ₦57,000.

Unlimited with fair usage limits (Speeds drop after a point):

• Airtel – Offers “Unlimited” plans like 20Mbps for ₦20,000 or 60Mbps for ₦50,000, but they apply FUP. Speeds drop after crossing certain limits (often not stated clearly).
• Spectranet –
  • Gold Plan: ₦18,999/month with a 125GB FUP.
  • Platinum Plan: ₦26,000/month with a 300GB FUP.
    After this, speeds are reduced to 512 kbps or 1 Mbps.
• Starlink – Ideal for remote areas where fibre isn’t available. However, the setup costs ₦590,000, and the monthly cost is ₦38,000. Users also complain about price hikes and speed drops during peak times.

What you should know

Many users feel disappointed after purchasing so-called “unlimited” plans, especially for 5G, only to find that they are throttled. If you stream a lot, work online, or have a family sharing an internet connection, these speed drops can be frustrating.

People we spoke with and discussions online often recommend MTN FibreX and FibreOne because they tend to stay fast even with heavy use. “If you need truly consistent internet for work or a family, these are the ones people keep suggesting,” Tomiwa noted. Starlink is often seen as more of a last resort for places where fibre isn’t an option. If you’re paying ₦30,000 or more per month, you deserve to know exactly what you’re getting. Always take the time to read the fine print before making a purchase.

Final thoughts: 

Choosing the best data plan depends on how much internet you use, your budget, and the quality of network coverage in your area. There’s no one-size-fits-all plan, but here’s a quick guide to help you decide:

• For light or emergency use, daily plans from MTN, Glo, and 9mobile are affordable. Just note that the cost per MB is usually higher.
• For short-term flexibility, weekly plans are a good middle ground. 9mobile’s 7GB for ₦1,500 and Airtel’s video-friendly bonuses are solid picks.
• For stable, everyday use, monthly bundles offer the best value. Glo is often the cheapest per GB, and MTN adds rollover if you renew on time.
• For unlimited home or office internet, fixed broadband is your best bet. MTN FibreX, FibreOne, and Tizeti offer no speed limits. Starlink is another option if you live in an area where fibre isn’t available, but it’s more expensive.

Nigerians are seeking more effective ways to grow their wealth, and the stock market is capturing their attention. You’ve likely seen stories online about people turning small investments into significant gains, or heard about companies on the Nigerian Exchange (NGX) that more than doubled their investors’ money in just a few months.

Image Source: Screenshot of X post by @oyinbby_ highlighting Honeywell stock gains

For example, imagine investing ₦1 million in Honeywell stocks a year ago; today, that investment could be worth over ₦5.4 million. Or consider the companies on the NGX that have doubled or more than doubled in value between January and June 2025 – some returns are truly significant.

Image Source: Screenshot of X post by @yaxmokwa displaying NGX companies that doubled investor money (Jan-Jun 2025)

This growing interest isn’t surprising. With prices constantly rising, simply saving money is no longer enough. People are looking for more innovative ways to make their money work harder. That’s where stock investing comes in. Instead of just keeping your cash in a bank account, you can now easily put it into shares of companies you believe in.

Apps make this shift straightforward. You no longer need a traditional broker or a suit and tie. All you need is your smartphone and internet to get started.

Nigeria’s fintech sector is also experiencing significant growth. There are over 430 fintech startups in the country, and many of these apps offer stock trading as a core feature. At the same time, the Nigerian Exchange (NGX) is performing well, despite economic challenges. The local stock market has recently reached record highs, attracting local and international investors.

Many Nigerians we spoke with told us they aren’t waiting for the “perfect time” to start investing. As Tolu in Lagos put it: “Once I saw MTN shares going up, I just opened an account and bought a small amount. That ₦5,000 is now like ₦8,000. It’s not a huge amount, but it feels good.”

This mindset is pushing more people to explore apps that offer Nigerian and international stocks. But with so many options, how do you choose the right one?

We examined the top stock investing apps in Nigeria, including Bamboo, Chaka, Trove, and i-invest.  Our review covered their key features, fee structures, and current regulatory standing. More importantly, we engaged with Nigerian users across various states – from new investors to those active since 2020 – who candidly shared their experiences, highlighting what they appreciate, what needs improvement, and which platforms they confidently trust with their investments.

These stock investing apps let you buy stocks on the Nigerian Exchange

Nigerians can easily invest in local and foreign stocks via several apps. We reviewed the most popular ones, checking their licensing and, critically, getting direct feedback from users on how well these platforms truly perform.

1. Bamboo

Image Source: Screenshots from the Bamboo app displaying trades for select Nigerian stocks, including MTN

What it lets you do:

Bamboo gives you access to Nigerian and U.S. stocks, and you don’t need a lot of money to start. You can buy fractional shares, meaning you can invest in big companies like Amazon or Tesla with as little as ₦15,000 or $20.

How it’s regulated:

Bamboo is registered with Nigeria’sSecurities and Exchange Commission (SEC) and works with Lambeth Capital for local stock trades. For U.S. stocks, your account is protected by Securities Investor Protection Corporation (SIPC) and Financial Industry Regulatory Authority (FINRA), which means your investments are insured up to $500,000.

What Nigerians told us:

Most people we spoke to praised Bamboo’s clean design and simple setup. Kemi, a user based in Port Harcourt, said:

“Bamboo is my go-to. I started with ₦20k last year, and I’ve just been topping up small small. The app works well, and I’ve never had payment issues.”

However, some also recalled when Bamboo was flagged by regulators in 2021. It caused panic back then, but the company adjusted its model and is now fully licensed. They say they’ve had a better experience since that time.

2. Chaka

Image Source: Screenshots from the Chaka app displaying trades for select Nigerian stocks, including Unilever Nigeria PLC

What it lets you do:

Chaka gives you access to over 4,000 stocks, including both Nigerian and international ones. You can open a Naira or a Dollar account, depending on your preference. It also features a SmartInvest option, where experts help manage a ready-made portfolio on your behalf. You can start investing with as little as ₦1,000 or $10.

How it’s regulated:

Chaka was one of the first Nigerian apps to get a digital sub-broker license from the SEC. That means they’re legally allowed to offer stock trading to Nigerian users. Their local trades go through Citi Investment Capital.

Fees:

• Nigerian stocks: ₦100 or 0.5% per trade
• Foreign stocks: 0.69% to 1.5% per trade
• No charges for deposits or withdrawals

What Nigerians told us:

We heard mixed reviews. Deji in Ibadan said:

“I like Chaka because it looks serious, and they give regular updates. But getting verified took too long. I had to wait nearly two weeks to start investing.”

Another Lagos-based user, Amaka, added:

“I had to chase customer care for my withdrawal. They eventually sent it, but I switched to Bamboo after that.”

People like the app, but slow Know Your Customer (KYC) and delayed withdrawals are common complaints.

Big news:

Risevest acquired Chaka. Risevest previously faced significant regulatory issues with the Securities and Exchange Commission (SEC) in Nigeria, and is now using Chaka’s license to offer Nigerian stock trading legally. So technically, when you trade NGX stocks on Risevest now, you’re using Chaka’s backend.

3. Trove Finance

What you can do on Trove:

Trove provides access to both Nigerian and U.S. stocks, as well as ETFs, bonds, and ADRs. One of its key selling points is fractional investing, allowing you to start investing without needing to purchase whole shares. You can begin with as little as ₦1,000 or $10, and U.S. stock trades are commission-free. There’s also Trove University, a built-in section with market tips and beginner-friendly content.

How it’s licenced:

For Nigerian stocks, Trove works through Sigma Securities, which is registered with both the SEC and NGX. For U.S. investments, they use Trove Investment Advisers, LLC, a company registered with the U.S. SEC. Additionally, your U.S. account is protected by SIPC insurance, which covers up to $500,000.

Fees:

• Nigerian stocks: 1.35% per trade
• Foreign stocks: 1.00% per trade
• Some advisory accounts may attract a monthly subscription fee, depending on your market.

What Nigerians told us:

We spoke to several investors who said Trove offers one of the widest selections of assets in Nigeria. Kemi in Port Harcourt also said:

“Trove is great for variety. I use it mainly for U.S. stocks and ETFs. The interface works for me.”

But others weren’t as happy. A Lagos-based investor, Sola, shared:

“Their withdrawal process was annoying. It took over a week, and I didn’t get helpful responses from customer care.”

4. i-invest

Image Source: Screenshots from the i-invest app displaying trades for select Nigerian stocks, including Access Holdings PLC

What you can do on i-invest:

I-Invest focuses primarily on Nigerian investments, including stocks, Treasury Bills, fixed deposits, commercial papers, and USD-denominated bonds. You can buy shares of companies listed on the Nigerian Exchange (NGX) straight from your phone.

How it’s licenced:

I-invest is registered with the Nigerian SEC, and a licensed custodian holds all investments. The app states that there are no extra charges, but, like every investment in Nigeria, a 10% withholding tax applies to dividend payouts.

What Nigerians told us:

Most people we heard from like how straightforward i-invest is. Deji in Ibadan also said:

“It’s clean and simple. I don’t need to guess what’s happening with my money.”

Another investor, Joy, added:

“I know it doesn’t do foreign stocks, but I use it for T-bills and NGX shares. I like that it doesn’t feel stressful.”

Unlike some other stock investing apps, we didn’t find many complaints about delays or poor service. Investors appreciate the clarity and focus on local assets.

Other platforms Nigerians use to access stocks

Aside from popular stock investing apps like Bamboo and Trove, some Nigerians utilise other tools to invest, particularly those seeking more control, access to multiple markets, or advanced technical features. However, these platforms have significant differences that you should be aware of before diving in.

1. MetaTrader 4 (MT4) & MetaTrader 5 (MT5)

These two platforms are popular worldwide. If you’re deep into trading or have ever seen someone with candlestick charts and multiple indicators, chances are they’re using MT4 or MT5.

MT5 is the newer version, offering more timeframes, improved order execution, and supporting a broader range of assets. Both platforms allow you to use automated trading bots, set price alerts, and customise your trading setup.

But here’s the thing: MetaTrader itself is not a broker. It’s just the software. You still need a licensed broker, such as AvaTrade or NGCB Group, to place trades.

And this is where it gets tricky.

Most of these brokers offer CFD trading, which means you’re not buying actual stocks. You’re simply speculating on whether the price will go up or down. That comes with higher risks, and you’re not entitled to dividends or ownership in the company.

More importantly, many of these brokers are not registered with Nigeria’s SEC. For example, NGCB Group is licensed in Mauritius, not Nigeria. This means if anything goes wrong, you might not be protected under Nigerian investment laws.

A few advanced traders we spoke to in Lagos and Port Harcourt said they use MT5 for forex and global markets, but even they admitted the risks. As Deji, an advanced trader, warned:

“I use MT5 for forex. It’s powerful, but it’s not for everyone. You really need to know what you’re doing. I wouldn’t recommend it to beginners.”

2. EasyEquities

This app is based in South Africa and provides access to a wide range of stocks, including those listed on the JSE (Johannesburg Stock Exchange), as well as the NYSE and Nasdaq. You can also invest in cryptocurrencies, ETFs, and even real estate.

It’s loved for a few reasons:

• No minimum investment
• Fractional shares, so you don’t need to buy a whole stock
• Low brokerage fees — just 0.25% per trade
• Free EFT deposits, with a small 0.5% FX fee for currency conversion

Sounds great, right? But there’s a catch — EasyEquities is regulated by South Africa’s FSCA, not Nigeria’s SEC. So while Nigerians can open accounts, there are some limitations.

We spoke to a few investors who tried using it from Nigeria. Amaka said:

“I like their fees, but funding the account from Nigeria is stressful. I had to try three banks before my payment worked.”

An investor in Lagos, Tolu, added:

“They didn’t reject my registration, but getting my money back was a hassle. It’s easier to use apps that are made for Nigerians.”

Head-to-head: Comparing stock investing apps in Nigeria

When choosing the right app for investing in stocks in Nigeria, it’s not just about the name or design; what matters most is access, cost, and ease of use. Let’s break it down:

Here is a comparative overview of the fee structures and minimum investments:

Note: Statutory fees for Nigerian stock transactions (NGX, CSCS, SEC, Stamp Duty, VAT) apply across all platforms facilitating NGN stock trading, regardless of platform-specific charges. These can total approximately 1.725% for buying and 2.025% for selling.

Final thoughts

Stock investing is no longer just for the few. Across Nigeria, more people are learning how to grow their money, not just save it, and stock investing apps are playing a significant role in that shift.

Here’s what we heard from Nigerians about what truly matters when choosing stock investing apps:

1. Nigerians want options — Local and Foreign

Stock investing apps like Bamboo, Chaka, and Trove already let you buy both Nigerian and U.S. stocks. For many investors we spoke to, this flexibility matters. Some want to invest in companies they see on the news (like Tesla or Apple), while others are focused on Nigerian brands they believe in.

“I like to mix it,” Tolu said. “GTBank is my go-to locally, but I also want to buy Apple shares. I just wish it didn’t take so long to fund my dollar wallet.”

2. Regulation is a big deal — and Nigerians know it

A lot of Nigerians told us they only trust platforms registered with Nigeria’s SEC. After seeing stories about frozen accounts and regulatory drama, many investors now double-check a platform’s license before signing up.

Platforms like i-invest, Chaka, and Bamboo have that stamp of approval. It gives people peace of mind.

“I don’t want to invest and hear tomorrow that the app has issues with the SEC,” Sola said. “That’s my money. I need to be sure it’s protected.”

3. Fees matter — but so does transparency

Nobody likes hidden charges. And while some apps claim “no fees,” Nigerians are becoming more discerning about reading the fine print.

Several investors mentioned confusion around FX fees, statutory taxes, and withdrawal charges. For example, the 10% tax on dividends surprised a few who were unaware that it was standard across all platforms.

“It’s not that I mind paying, I just want to know upfront,” Kemi, a trader we spoke to, said. “Don’t tell me it’s free, then take ₦1,200 from my withdrawal.”

Clear fee breakdowns, upfront costs, and honest communication are now essential for transparency and accountability.

Bottom line

The stock investing space in Nigeria is growing rapidly, and investors are becoming increasingly informed, vocal, and demanding. People want options, speed, and clarity, and the stock investing apps that provide all three will emerge as the winners.