BY NGOZI ONYEAKUSI

Thrifto, a Nigerian financial technology platform reinventing traditional group savings, has officially launched to the public, offering safeguarded group savings with guaranteed payouts for salary earners and traders.
After a successful soft launch to family and friends, Thrifto is now opening access to the wider public, providing a secure, transparent, and bank-backed alternative to informal savings schemes such as ajo and esusu.
Built to eliminate trust failures that have plagued informal group savings for decades, Thrifto combines structured savings, verified membership, and technology-driven safeguards to ensure contributors save together with confidence.
Who Can Onboard at Launch
At this initial stage, Thrifto is onboarding:
Salary earners working with organisations in the following sectors:
financial institutions, oil and gas companies, telecommunications companies, technology companies, Ministries, Departments and Agencies (MDAs), and viable state governments, subject to verification.
Traders and individuals who may not work with any of the above organisations can still onboard at this stage by obtaining special Onboard Codes from Thrifto-designated Connectors.
This phased onboarding approach is designed to strengthen trust, accountability, and platform stability as Thrifto scales.
How Thrifto Works
Once a user completes KYC and is verified, Thrifto automatically creates a personal virtual bank account (wallet) for the user, domiciled with a partner bank.
Users can:
Create savings groups of 2 to 12 members
Set contribution amounts, savings cycles (daily, weekly, or monthly), and payout order
Join any listed group on the platform
Fund their wallet and make contributions seamlessly
Receive lump-sum payouts directly into their wallet and withdraw to any Nigerian bank
Group creators may invite members via WhatsApp, email, X (formerly Twitter), Facebook, or allow open participation through Thrifto’s Join Group feature.
Trust Rating System: Saving with Confidence
A core innovation of Thrifto is its Trust Rating System, which assigns credibility scores to users based on:
KYC completion and verification status
Contribution consistency and history
Participation behaviour across savings groups
This system enables users to make informed decisions about who they save with, while promoting discipline and accountability within the ecosystem.
Designed for Real Nigerian Needs
Thrifto is purpose-built for:
Salary earners planning for rent, school fees, asset acquisition, and major life expenses
Market traders saving daily or weekly from fluctuating cash flows
Anyone seeking the benefits of group savings without the risks of cash handling, defaults, or broken trust
“All over Nigeria, people lose money and relationships because informal group savings rely on blind trust,” said Sulaimon Durojaiye, Founder and CEO of Thrifto. “Thrifto keeps the discipline of group savings but replaces blind trust with verification, transparency, and secure banking infrastructure.”
Now Live
Thrifto officially opens to the public from Monday, December 1, 2025, at 12:00am, allowing users to sign up, complete verification, create or join groups, and begin saving immediately.
To support early adopters, Thrifto has also launched a dedicated WhatsApp support community to assist users with sign-up, login, KYC completion, and onboarding challenges.
About Thrifto
Thrifto is a Nigerian fintech platform offering safeguarded group savings with guaranteed payouts for salary earners and traders. By combining Nigeria’s long-standing group savings culture with modern technology and regulated banking infrastructure, Thrifto enables collective saving that is secure, transparent, and reliable.