Here are the top five investment apps that have lowered the barriers to entry into the NGX and made it easier than ever for ordinary Nigerians to buy and sell stocks.
The NGX Performance for the First Quarter, 2026
Nigeria’s stock market has had a remarkable start to 2026.
The Nigerian Exchange Limited (NGX) opened the year with a market capitalisation of ₦99.38 trillion and closed the first quarter at ₦129.21 trillion. This represented a gain of approximately ₦29.83 trillion in just three months. The market crossed the ₦100 trillion mark in early January. It surged past ₦120 trillion in February on the back of strong repricing in Dangote Cement and MTN Nigeria and briefly touched ₦130 trillion in March before closing the quarter at ₦129.21 trillion.
The NGX All-Share Index rose by about 45,674 basis points — a 29.35% gain — closing Q1 2026 at 201,287.78 basis points. Sector-wise, oil and gas led the charge with a year-to-date return of 64.22%. Following it was industrial goods at 54.6% Banking posted a solid 22.8% return. Consumer goods gained 9.66%. And insurance rounded out the sectors with a 3.54% rise.
Analysts point to several drivers behind this rally. One is relative stability in the foreign exchange market, which moderates inflation, improves corporate earnings from listed companies, and growing retail participation. That last factor, namely, the surge in everyday Nigerians investing, is not happening by accident. A new generation of digital brokerage and investment apps has lowered the barriers to entry, making it easier than ever for ordinary people to buy and sell stocks.
Here are the top five platforms driving that retail wave.
1. Bamboo
Bamboo is a Nigerian digital brokerage firm with over 500,000 registered users. It has been expanding its services to other countries. The platform gives users access to more than 3,500 US and Nigerian stocks and ETFs, as well as fixed income products. As of April 2024, the platform had over 100,000 active investors.
For US stock transactions, Bamboo charges a trade commission of 1.5 percent per buy or sell order. It imposes a minimum charge of $1, meaning that if 1.5% of a trade value comes to less than $1, the user is charged $1 regardless.
2. Risevest
Risevest is an investment platform with over 600,000 users. It allows users to invest in US-based assets, including real estate, stocks, and fixed-income plans, with a minimum investment of $1. However, investors should note that as of early 2025, the Securities and Exchange Commission (SEC) Nigeria had warned that the company is not registered with them to operate in the capital market.
On fees, Risevest charges a management fee ranging from 0.5% to 2% on investment returns depending on performance, and up to 3.9% on deposits. The platform generally charges 0.5% annually on assets under management. No fees are charged if returns are 10% or less. Additional charges include transaction fees and a $3 monthly account maintenance fee.
3. Cowrywise
Cowrywise has grown to over 500,000 active users, with some reports suggesting the platform has reached over two million customers in Nigeria. As of 2021, it had over 300,000 users, crossed one million by 2023, and has continued growing since, with a focus on the underserved middle class and millennials.
Cowrywise generally does not charge direct management fees for savings. For Naira mutual fund investments and emergency plans, it charges a 1.5 percent processing fee, capped at ₦2,000. The company notes that this fee is primarily for payment processing rather than a direct platform charge, in keeping with its goal of making investment accessible.
4. Trove Finance
Trove Finance has 400,000 registered users and gives them access to over 5,000 listed assets across Nigerian, US, and Chinese stock markets. The platform has processed over ₦500 billion in trades, mostly routed through partners, and recently acquired a long-standing broker-dealer firm that was previously owned by Union Bank.
Trove charges 1.35% plus regulatory fees on Nigerian stocks. It also charges a 1.5% commission per US trade, alongside minimal funding charges that are largely fees passed on from payment processors. Users can start investing with a minimum deposit of ₦1,000 or $10. There is also a one-time $2 fee to create a virtual card for spending.
5. Chaka
Chaka is a Nigerian SEC-licensed digital investment platform that serves over 100,000 African users. It provides access to more than 4,000 stocks and ETFs from the Nigerian Stock Exchange, NASDAQ, and the New York Stock Exchange. Its users can invest across US, UK, and other international markets.
For global (US) stocks, Chaka charges a 1% commission on buy or sell transactions. It also charges a minimum fee of $2 for transactions below $200. For local Nigerian stocks, the commission is 0.5 percent or a minimum of ₦100. There are no account opening, maintenance, or hidden deposit fees, though regulatory fees apply for local stocks.
