NewStats: 3,262,026 , 8,175,902 topics. Date: Saturday, 31 May 2025 at 03:15 PM 634841

Piggyvest is an online savings platform that makes you save money and gives interest overtime.
But Piggyvest has an 'investment' option which seems to be the channel through which the scam is being deployed.

My Experience: I bought some shares as a form of investment in real estate sometime last year.
I was prompted to buy in this sector because my understanding of real estate is that the monetary estimation of a property always appreciates over time. Also, it was stated that investments get as high as 35%pa return.
Months after investing, I was surprised to find out that, my shares, instead of increasing in value as properties are meant to appreciate, was actually decreasing in value and as it is, the estimation has long ago remain fixed.

My unanswered questions:
Why is such a deceptive investment option on the Piggyvest platform? A platform approved by SEC.

What are the factors responsible for determining the direction (up or down) in which the stock/shares purchased would go?

Why would the estimated value of shares that represent units of a real estate lose value/remain static for about a year?

What happened to the monies paid. What market is regulating these funds? Because my knowledge of shares is that they can be bought and sold at any time.

Is a platform unjustly holding onto people's funds, with no way to immediately access the money, an investment platform or a scam.

How long has this option of trading been active and how many people have abandoned their funds?

How come no one seems to be talking about this, or is it normal?

When can investors expect to get back their monies, if ever, and what would be the value of the money paid to justify that the Piggyvest investment venture is actually a savings/investment venture and not an organized scam like Cbex?

Answers would be appreciated if you're familiar with this investment option.

That is why you are advised to seek financial advise before going into any investment. Piggyvest did not scam you. That's the nature of real estate investments especially where piggyvest is acting as a third party.

sofdoc1:
Piggyvest is an online savings platform that makes you save money and gives interest overtime.
But Piggyvest has an 'investment' option which seems to be the channel through which the scam is being deployed.

My Experience: I bought some shares as a form of investment in real estate sometime last year.
I was prompted to buy in this sector because my understanding of real estate is that the monetary estimation of a property always appreciates over time. Also, it was stated that investments get as high as 35%pa return.
Months after investing, I was surprised to find out that, my shares, instead of increasing in value as properties are meant to appreciate, was actually decreasing in value and as it is, the estimation has long ago remain fixed.

My unanswered questions:
Why is such a deceptive investment option on the Piggyvest platform? A platform approved by SEC.

What are the factors responsible for determining the direction (up or down) in which the stock/shares purchased would go?

Why would the estimated value of shares that represent units of a real estate lose value/remain static for about a year?

What happened to the monies paid. What market is regulating these funds? Because my knowledge of shares is that they can be bought and sold at any time.

Is a platform unjustly holding onto people's funds, with no way to immediately access the money, an investment platform or a scam.

How long has this option of trading been active and how many people have abandoned their funds?

How come no one seems to be talking about this, or is it normal?

When can investors expect to get back their monies, if ever, and what would be the value of the money paid to justify that the Piggyvest investment venture is actually a savings/investment venture and not an organized scam like Cbex?

Answers would be appreciated if you're familiar with this investment option.

I sent a mail and I this is what I got:

[b]Thank you for reaching out to us.

To clarify, the real estate investment does not have a fixed maturity date but rather a projected return timeline. This is because real estate equity investments continue to appreciate over time until investors start receiving rental income or choose to sell their shares.

Here’s how it works:
Once the project is completed, investors will receive dividends from rental income.
Currently, the property value on the app may seem undervalued, but it still delivers an estimated 20-35% ROI annually.
You can cash out anytime by selling your shares at a higher value to other investors.

How to Sell Your Shares:
Go to your investment dashboard and select the SELL option.
Your sell offer will be visible to potential buyers for 14 days. If it doesn’t sell within that time, you can repost it.
Even if you don’t see your listing, rest assured it remains visible to buyers.
Once a buyer purchases your shares, the funds will be credited immediately to your Flex Naira wallet.

We appreciate your patience and hope this explanation helps.[/b]

They said the project is not completed. That's the nature of real estate. With the high price of things now, what do you expect?
It's flats/apartments they want to build and you have to wait until they build and put tenants, then you will receive rental income. That's the business. I knew that would be the case so I backed out. I cannot wait for 5-10 years. That's the nature of real estate. If you can wait, you'll reap profits. But if you cannot, just resell it.

emekad2:
That is why you are advised to seek financial advise before going into any investment. Piggyvest did not scam you. That's the nature of real estate investments especially where piggyvest is acting as a third party.

Yes, I believe I saw something like that when I was about to purchase the shares. But I felt in the worst case scenario, I would sell the shares at an undervalued rate.

I also thought Piggyvest should have made this process seamless, regardless of whether a third party is involved. People should be able to access their funds even if it's undervalued.

The truth is that no scam would actually appear as one. Look at cbex, organized scam is very difficult to detect. How much do we know piggyvest know about these companies?
Is SEC even aware of these types of investment options on piggyvestt?

Digitron:


I sent a mail and I this is what I got:

[b]Thank you for reaching out to us.

To clarify, the real estate investment does not have a fixed maturity date but rather a projected return timeline. This is because real estate equity investments continue to appreciate over time until investors start receiving rental income or choose to sell their shares.

Here’s how it works:
Once the project is completed, investors will receive dividends from rental income.
Currently, the property value on the app may seem undervalued, but it still delivers an estimated 20-35% ROI annually.
You can cash out anytime by selling your shares at a higher value to other investors.

How to Sell Your Shares:
Go to your investment dashboard and select the SELL option.
Your sell offer will be visible to potential buyers for 14 days. If it doesn’t sell within that time, you can repost it.
Even if you don’t see your listing, rest assured it remains visible to buyers.
Once a buyer purchases your shares, the funds will be credited immediately to your Flex Naira wallet.

We appreciate your patience and hope this explanation helps.[/b]

Thanks for messaging them.
It should have been clearly written that the investment would take years for one to see ROI, not just the up to 35% pa returns they put on the ad.
If one gets dividends or whatever yearly. How come we haven't gotten any?

I have tried selling off the shares I got at discounts so many times, buh no one seems to be buying. That's the most annoying part.

Did you buy shares also?

emekad2:
They said the project is not completed. That's the nature of real estate. With the high price of things now, what do you expect?
It's flats/apartments they want to build and you have to wait until they build and put tenants, then you will receive rental income. That's the business. I knew that would be the case so I backed out. I cannot wait for 5-10 years. That's the nature of real estate. If you can wait, you'll reap profits. But if you cannot, just resell it.

Who said the project is not being completed? I'm asking for the source of your information.

Selling those shares I got has been a hassle.

Piggyvest is like a sub of wema bank na. I don't think it is the money that was invested they should be using to build the estate. They can just lend that third party the money then we start buying into the property based on the estimate. I'm not sure price of things should be a reason why we can't access the money or are not getting a ROI, na our money dem wan carry go market before?

sofdoc1:


Thanks for messaging them.
It should have been clearly written that the investment would take years for one to see ROI, not just the up to 35% pa returns they put on the ad.
If one gets dividends or whatever yearly. How come we haven't gotten any?

I have tried selling off the shares I got at discounts so many times, buh no one seems to be buying. That's the most annoying part.

Did you buy shares also?

Yeah, I replied them that there was some form of deception, the were not clear enough.

On stocks, yes I do

I think we should all come together and create awareness on social media so piggyvest can refund investors back their money, if it's just the capital.

newcommer:
I think we should all come together and create awareness on social media so piggyvest can refund investors back their money, if it's just the capital.

I am with you on this. That is what I intended to do by creating this post. But apparently it didn't get the traction I'd have liked.

The silence is deafening from Piggyvest, that's why it looks like a scam to me. How do they hold unto people's money for so long and are so relaxed about it? Like the investors have no idea of what is going on with their money. And their defense is that it was subtly mentioned to seek advice before investing. So we are automatically at fault for investing?
At least in the case of MMM, it was clearly stated that you should only invest money you are willing to part ways with. So to me, that wasn't a scam.

So, if you have any suggestions on how to go about this solidarity call...I'm all in.

sofdoc1:


I am with you on this. That is what I intended to do by creating this post. But apparently it didn't get the traction I'd have liked.

The silence is deafening from Piggyvest, that's why it looks like a scam to me. How do they hold unto people's money for so long and are so relaxed about it? Like the investors have no idea of what is going on with their money. And their defense is that it was subtly mentioned to seek advice before investing. So we are automatically at fault for investing?
At least in the case of MMM, it was clearly stated that you should only invest money you are willing to part ways with. So to me, that wasn't a scam.

So, if you have any suggestions on how to go about this solidarity call...I'm all in.

Hello. I'm sorry you are still having challenges with getting your money. They refunded me yesterday plus a little interest. I ed their customer care through their email: @piggyvest.com

Maybe you can try them