Is Piggyvest Legit? Is Piggyvest Approved By CBN? How Does Piggyvest Work?

Piggyvest has become an important tool for Nigerians looking for a safe and easy way to save and invest their money in the world of personal finance and investments, which is changing very quickly.

Piggyvest is a financial technology (fintech) platform that provides users with a convenient and secure way to save and invest money. Launched in 2016, Piggyvest has gained popularity in Nigeria for its user-friendly interface and a range of features designed to promote disciplined financial habits.

The platform offers various savings options, allowing users to set aside funds for specific goals such as emergencies, education, or vacations. Piggyvest makes saving easy by providing automated savings plans and flexible withdrawal options.

In addition to savings, Piggyvest provides investment opportunities, allowing users to grow their money over time. The platform offers different investment plans with varying risk levels, catering to users with different risk appetites.

Piggyvest's features also include a flexible savings account called PiggyFlex, which allows users to earn interest on their savings while maintaining the flexibility to withdraw funds at any time. The platform encourages social saving through group savings options, fostering a sense of accountability and collaboration among users.

To incentivize engagement, Piggyvest has a rewards system called PiggyPoints, which users earn as they interact with the platform. These points can be converted into cash or used to access premium features, adding a gamified element to the saving and investment experience.

Is Piggyvest Legit? Is Piggyvest Approved By CBN? How Does Piggyvest Work? This blog post will cover all you need to know.

How Does Piggyvest Work?

Understanding how Piggyvest works is essential for anyone considering using the platform. Piggyvest operates as a financial technology (fintech) platform designed to help users cultivate disciplined savings habits and make smart investments. Here's a breakdown of its key features:

Savings: Piggyvest offers a variety of savings options, allowing users to set aside funds for specific goals. Whether you're saving for a vacation, education, or emergencies, Piggyvest provides a user-friendly interface to automate your savings. 

PiggyVest offers a suite of savings plans catering to different preferences and financial goals. From automated savings for a hassle-free experience to fixed savings with Piggybank, goal-oriented savings with Safelock, and the flexibility of managing your funds in both Naira and foreign currencies with Flex Naira and Flex Dollar, PiggyVest empowers you to build your savings strategically and efficiently. 

With the added incentive of earning 5%-15% interest, PiggyVest makes the journey to financial success both rewarding and tailored to your unique needs.

Investments: Users can also invest their savings through Piggyvest. The platform offers different investment plans with varying returns, allowing you to grow your money over time. These investments range from low to medium risk, catering to different risk appetites.

PiggyFlex: Piggyvest's Flex account provides users with a flexible savings option, allowing withdrawals at any time. It's a great way to earn interest on your savings while maintaining accessibility.

Group Savings: Piggyvest allows users to form savings groups, making it a social experience. This feature encourages accountability and teamwork, helping users achieve their financial goals collectively.

PiggyPoints: As you engage with the platform, you earn PiggyPoints that can be converted into cash. This rewards system adds a gamified element to the saving and investment process.

Is Piggyvest Legit? 

Yes, Piggyvest is a legitimate financial platform. Established in 2016, Piggyvest has gained trust and popularity among users in Nigeria as a reputable savings and investment platform. It operates within the framework of financial regulations and is registered with the Securities and Exchange Commission (SEC).

The platform has implemented robust security measures, including encryption and authentication protocols, to safeguard user data and funds. Piggyvest's commitment to user security and financial compliance contributes to its legitimacy in the financial technology (fintech) space.

Additionally, Piggyvest has received positive reviews from a substantial user base, further affirming its legitimacy and reliability. Users often praise its user-friendly interface, various savings and investment options, and the platform's dedication to helping individuals achieve their financial goals.

Is Piggyvest Approved By CBN? 

Piggyvest also offers the Pocket app, which is operated as a subsidiary of Abeg Technologies. This separate application offers consumers additional financial services and functionalities. The Pocket app is unique for having full license from the Central Bank of Nigeria (CBN). This accreditation demonstrates the app's adherence to regulatory standards and dedication to offering dependable financial services.

How to use Piggyvest 

It's easy to use Piggyvest. Here's a step-by-step guide on how to get the most out of this banking platform:

Create an Account: To begin, get the Piggyvest app from the app store of your choice or go to the website. To make an account, just follow the on-screen instructions and enter the required details.

Set Up Your Profile: Once you've made an account, you need to add personal information to your profile to finish it off. This step helps you make your Piggyvest experience unique.

Explore the Dashboard: Get to know the Piggyvest display. It is where all of your financial actions on the platform come together. You can use different tools and check on the progress of your savings and investments here.

Pick a Savings Plan: Piggyvest has a range of savings plans that can help you reach your financial goals. Automated Savings, Piggybank (Fixed Savings), Safelock (Goal-oriented Savings), Flex Naira, and Flex Dollar are some choices to look into. Pick the plan that fits with your goals and tastes.

Set Savings Goals: If you're using Safelock or another savings plan with goals, make sure you have clear savings goals. This could be for any reason, like an emergency, a trip, or to save money in general. Setting clear goals will help you stay on track as you save money.

Automate Your Savings: Use the power of setting up automatic saves. You can set up automatic plans that take a certain amount out of your account at regular times or set up recurring payments. This will help you keep making steady progress toward your savings goals.

Explore Investments: If you want your money to grow, you might want to look into Piggyvest's investment choices. Look at the different financial plans that have different amounts of risk and possible returns. Pick the plan that fits your level of comfort with risk and your financial goals.

Use the Flex Naira and Flex Dollar: Use the Flex Naira and Flex Dollar to your advantage. Flex Naira lets you order your money and get it out whenever you want. For people who want to save money in different currencies, Flex Dollar lets you do that in US Dollars and other currencies.

Earn PiggyPoints: Use the platform to get PiggyPoints. These points can be turned into cash or used to get access to special features. This makes saving and investing more fun.

Check Your Progress: To see how your savings and investments are going, make sure you check your Piggyvest dashboard often. This keeps you up to date on your finances so you can make changes to your plan as needed.


Is Piggyvest safe and secure?

Yes, Piggyvest takes the security of your data and funds seriously. The platform employs robust encryption and authentication measures to ensure the safety of user information. Additionally, Piggyvest collaborates with licensed financial institutions, and its operations adhere to regulatory standards.

How do I create an account on Piggyvest?

To create an account on Piggyvest, download the Piggyvest app from your app store or visit the Piggyvest website. Follow the registration prompts, providing the required information to set up your account.

Are my deposits insured on Piggyvest?

Yes, if you use the Pocket app under Abeg Technologies, your deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC). This insurance coverage adds an extra layer of protection to your funds.

What are the different savings plans offered by Piggyvest?

Piggyvest offers various savings plans, including Automated Savings, Piggybank (Fixed Savings), Safelock (Goal-oriented Savings), Flex Naira, and Flex Dollar. Each plan is designed to cater to different savings goals and preferences.

How can I automate my savings on Piggyvest?

To automate your savings, select the Automated Savings or set up recurring transfers in your chosen plan. You can specify the amount you want to save and the frequency of the deductions, allowing for a hassle-free savings experience.

Can I withdraw my savings at any time?

The flexibility of withdrawal depends on the savings plan you choose. Plans like Flex Naira allow you to withdraw your money at any time, while others, like Piggybank and Safelock, may have specific withdrawal conditions. Review the terms of your chosen plan for withdrawal details.

How do I earn PiggyPoints?

PiggyPoints are earned by engaging with the platform. This includes activities such as saving, investing, and referring friends. Accumulated PiggyPoints can be converted into cash or used to access premium features on the platform.


In conclusion, Piggyvest is a legitimate and reputable platform that has become a go-to choice for many Nigerians seeking to improve their financial well-being. 

Piggyvest has become an important tool for Nigerians looking for a safe and easy way to save and invest their money in the world of personal finance and investments, which is changing very quickly.

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