{
  "id": 8032390,
  "title": "The new way Nigerians are saving, spending, borrowing with DigitvantPay",
  "url": "https://urgent.news/2026/09/17/the-new-way-nigerians-are-saving-spending-borrowing-with-digitvantpay",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T12:59:38.000Z",
  "source": {
    "name": "Daily Post Nigeria",
    "slug": "daily-post-nigeria",
    "url": "https://dailypost.ng/2026/09/17/the-new-way-nigerians-are-saving-spending-borrowing-with-digitvantpay/"
  },
  "original_language": "en",
  "account": "In the Nigerian financial landscape, the traditional methods of saving, spending, and borrowing have undergone a significant transformation. Long before the advent of mobile banking, Nigerians had already mastered the art of financial discipline, employing various innovative techniques to manage their money. They saved in clay pots buried beneath the earth, tucked away in tins under the bed, contributed to esusu schemes, and relied on personal contributions known as ajo. These methods were designed to ensure that funds were available for future needs, often referred to as \"rainy days.\" Borrowing was also a common practice, with individuals seeking loans to cover school fees, handle household emergencies, or navigate lean seasons. Creditworthiness was determined by reputation and consistency in repaying debts, rather than by formal credit scores.\n\nToday, the same fundamental decisions are executed in mere seconds, thanks to platforms like DigitvantPay. Saving is now an effortless process, where funds earn interest even while lying dormant. Borrowing has become a swift and straightforward affair, no longer requiring lengthy branch visits and cumbersome documentation. Spending has become almost invisible, with consumers able to make purchases by simply parting with the necessary amount through the DigitvantPay app. This convenience has become the driving force behind Nigerian personal finance, making saving more accessible, borrowing faster, and spending less conspicuous.\n\nDigitvantPay has been meticulously designed to cater to this modern financial reality. Transactions settle in mere seconds, eliminating the frustrations of failed transfers or waiting for delayed funds. The platform's simplicity lies in its straightforward approach: if you've earned the money, spending it should not be a stressful endeavor. DigitvantPay offers one of the most competitive savings rates in the market, with yields of up to 25 percent annually, contingent upon the terms set by the user. Savers can select their preferred start and maturity dates, allowing their funds to accrue interest while they rest. Recognizing the enduring importance of credit access, DigitvantPay has revolutionized lending by dismantling the stringent requirements of traditional banking. The Digitvant Payroll Loan, specifically tailored for private-sector employees facing unexpected emergencies such as urgent school fees, provides immediate access to funds ranging from ₦200,000 to ₦5 million, sans the need for collateral or guarantors. DigitvantPay has empowered Nigerians to transcend the rigid structures of conventional finance and secure the financial resources they require precisely when needed. In essence, what were once three distinct errands—saving, spending, and borrowing—have been seamlessly integrated into a single, user-centric decision-making process. The time-tested habits of our ancestors have not vanished; instead, they have evolved into a more efficient instrument: digital banking. The new paradigm through which Nigerians are managing their finances through DigitvantPay.",
  "summary": "Long before mobile banking, Nigerians already understood money discipline. Our grandparents saved in clay pots buried beneath the earth, in tins pushed under the bed, in ajo and esusu contributions held by a trusted collector, and in notes folded into the knot of a wrapper. They set money aside for what they called rainy days. […] The new way Nigerians are saving, spending, borrowing with…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}