PiggyVest Cuts Third-Party Ties to Fix Withdrawals, Boost Control

PiggyVest, one of Nigeria’s leading digital savings and investment platforms with over 5.8 million users, has confirmed that recent withdrawal issues affecting its customers have been resolved through its mobile money operator, PocketApp. The announcement was made during the company’s OpenHouse event held in Ibadan, where the Director of Payments, Ibukun Akinola, detailed how the platform now has a direct connection with the Nigeria Inter-Bank Settlement System Plc (NIBSS) via PocketApp. This integration allows PiggyVest to process withdrawals independently, bypassing third-party payment processors such as Flutterwave and Paystack. Previously, users had reported delays in receiving funds due to technical challenges in the withdrawal process. With the direct link, users can now withdraw to their PocketApp accounts and subsequently transfer funds to any financial institution of their choice. The mobile money licence also provides PiggyVest with full control over the payment infrastructure, enabling faster resolution of any technical issues.

The integration with NIBSS, as explained by Akinola, means that PocketApp account numbers are now directly registered with the settlement system. Any downtime experienced by users will now be attributed to NIBSS or internal PiggyVest issues, with the latter being resolvable by the company’s engineering team directly. Akinola encouraged users to generate a PocketApp account number to streamline their transactions, describing the mobile money operator as Piggy Bank’s bank. This move is part of PiggyVest’s broader effort to improve user experience by removing external dependencies and enhancing transaction efficiency. The company reported that in the first half of 2025 alone, it returned over N2.6 trillion to its users, with an average of N47,000 saved every second on the platform.

In addition to resolving withdrawal issues, PiggyVest announced several product updates and new features during its OpenHouse events, which have now expanded to Ibadan following earlier launches in Abuja, Uyo, and Port Harcourt. The grand finale of the event series is scheduled for October in Lagos. Among the updates is the introduction of back-end interest on SafeLock, complementing the existing up-front interest model. This allows users to receive returns either before or after the investment period. A new auto-invest option for SafeLock is also in development, enabling users to extend their investment plans automatically. The company is also launching PiggyVest Business, a dedicated account that helps users separate personal and business finances, with features including money markets, business-specific SafeLock, and access to third-party POS services.

Another notable update is the FlexDollar virtual account, which will allow users to fund their dollar-based investments directly. This feature is set to roll out soon, with plans to enable users to lock funds in dollars and earn dollar-based interest. PiggyVest also announced PiggyVest Kids, a product suite designed to help married users save for their children’s future, which is expected to launch in 2026. Additionally, the company is working on the Salary Manager feature, described as a financial planning tool that helps users manage their income and expenses based on their monthly salary. The feature is still in development but reflects PiggyVest’s commitment to expanding its offerings beyond basic savings and investment.

PiggyVest’s recent involvement in major events such as Zikoko’s inaugural Naira Life Conference, held in Lagos and drawing over 900 attendees, further highlights the growing interest in financial literacy and wealth-building among young Nigerians. The conference, headlined by PiggyVest and supported by other key financial and technology players, featured a range of sessions on personal finance, business management, investment, and career development. PiggyVest’s representative, Odun Eweniyi, participated in several panels and discussions, contributing to the event’s goal of fostering financial empowerment and education. The success of the event has prompted Zikoko to confirm that the Naira Life Conference will become an annual flagship event, reinforcing the importance of open and honest financial conversations in Nigeria’s evolving fintech landscape.

Source: [1] PiggyVest says it has fixed withdrawal issues with PocketApp (https://technext24.com/2025/09/08/piggyvest-fix-withdrawal-issue-pocketapp/) [2] Zikoko makes history with inaugural 'Naira Life' conference ... (https://businessday.ng/news/article/zikoko-makes-history-with-inaugural-naira-life-conference-headlined-by-piggyvest-carbon-others/?utm_medium=web&utm_source=auto-read-also)