PiggyVest has explained that recent withdrawal issues experienced by customers have been fixed through its mobile money operator, PocketApp. This comes days after users faced issues withdrawing to their Wema and Sterling Bank accounts.
In its OpenHouse event held in Ibadan on Saturday, Director of Payments, Ibukun Akinola, said that through PocketApp, the company now has a direct connection with the Nigeria Inter-Bank Settlement System Plc (NIBSS).
The partnership enables the company to process customers’ withdrawals without needing a third party. As such, it allows PiggyVest to be independent of middlemen such as Flutterwave, Paystack and other payment processors.
“Previously, we used to depend on a lot of payments that were not in our control, where we had to reach out to different bodies to get a withdrawal issue solved. But now, we’ve fixed it with PocketApp,” she said.
Users have often experienced technical issues with withdrawing from their PiggyVest account to another bank account. In such situations, funds get stalled, making customers wait for hours or days to get resolved and credited.
With PiggyVest securing a direct link with NIBSS, users can now withdraw directly to their PocketApp and transfer to other financial institutions of their choice.
In addition, Ibukun noted that PiggyVest has now taken full control of the infrastructure, which enables it to process payments faster and better. With the mobile money licence, she reiterated that users will get any withdrawal issues solved as fast as possible.
“PocketApp is connected directly to NIBSS, meaning PocketApp account numbers are now in NIBSS. When we say there’s downtime, it’s supposedly due to maybe NIBSS only. So even if there is an issue from PiggyVest’s end, our engineering team will directly resolve it,” she said.
Ibukun encouraged customers to generate a PocketApp account number to ensure a faster and more reliable inflow of funding. The company describe the mobile money app as Piggy Bank’s bank.
PiggyVest, one of Nigeria’s leading savings and investment platforms with over 5.8 million users, paid more than N2.6 trillion back to users in H1 2025. The company revealed it recorded an average of N47,000 saved every second on the platform.
Read More: PiggyVest pays over ₦2 trillion in H1 2025, outlines plans for H2.
Its OpenHouse events have earlier launched in Abuja, Uyo, Port Harcourt, and now in Ibadan. The grand finale, set for October, will be held in Lagos.
PiggyVest business, salary manager and other prospective additions
In addition to ensuring users’ funds are delivered without any glitch, PiggyVest announced a couple of updates to its products and other prospective additions.
The Co-founder and Chief Marketing Officer, Joshua Chibueze, said the company is determined to help Nigerians understand and manage their finances.
“If you are able to plan and understand how you can save and invest better, it helps you categorise your income and spend judiciously,” he noted.
The company announced a couple of new modifications to its current offerings and incoming products, such as:
1. Back-end interest on SafeLock: In addition to the up-front interest on SafeLock, where users get returns before the period ends, there’s an introduction of back-end interest. Here, users can only get their interest at the end of the SafeLock period.
Additionally, another update on the SafeLock, which is set to launch next year, includes the ability to auto-invest in your SafeLock. This means that there will be a provision for users to extend their SafeLock plan.
2. PiggyVest Business: To improve users’ cash flow, PiggyVest is introducing a business account that separates personal finance from business finance. Other features include money markets, SafeLock for business and access to POS from the company’s third-party vendors.
Users can get started with: www.piggyvest.business.
3. FlexDollar virtual account number: With the virtual account, users will have access to fund their FlexDollar directly. The feature, according to PiggyVest, will be rolled out very soon. There’ll also be an option that allows customers to SafeLock funds in dollars and get interest in dollars.
4. PiggyVest Kids: This has a suite of features and products that are designed specifically to help married users save for their children and future ones. The feature will be rolled out anytime next year.
5. Salary Manager: With this, users will have discipline over their income, expenses and business. The Chief Product Officer, Terry Kanu, described Salary Manager as a ‘matchmaker’ that disciplines individuals on how to plan financially for the month based on their salary. The feature is still a work-in-progress.
Other prospective additions are the expected adjustment in the Target Savings interest and the introduction of a PiggyVest Walkathon, which will combine exercise with rewards.
