From WhatsApp to the Stock Market: How Nigerians Can Buy Shares
Nigerians looking to invest in public offers can now begin the process through an app many already use every day: WhatsApp.
The Nigerian Exchange Group (NGX Group) has added a WhatsApp channel to its NGX Invest platform, allowing investors to discover eligible public offers and start their subscription without downloading a separate application.
The new channel is designed to make access to Nigeria’s primary capital market easier, but it does not mean investors can simply send a WhatsApp message and automatically become shareholders.
There are still steps to complete, including selecting a stockbroker to process the application.
How to buy shares through WhatsApp
Investors who want to use the new NGX channel can start by sending “Invest” to the official NGX Invest WhatsApp number, +234 812 731 9521.
The service then guides users through the available investment opportunities and the subscription process.
According to NGX, investors can view eligible offers and complete the required steps without installing another application. However, a stockbroker remains part of the process, as users are required to select a broker through whom their application will be processed.
This means WhatsApp is effectively serving as a new entry point into NGX Invest rather than replacing the existing investment infrastructure.
The platform can be used for eligible public offers, rights issues and initial public offerings (IPOs). NGX Invest itself is the exchange’s SEC-approved electronic platform for accessing such primary-market opportunities.
What investors should have before starting
Although the first step is simply sending a WhatsApp message, investors should expect to provide information required for the investment process.
A recent test of the WhatsApp process by Technext found that users were asked for information including their Bank Verification Number (BVN), bank details, 10-digit NUBAN account number and email address.
The email address is required for dividend payments, according to the report. The process also presented investors with a list of stockbrokers from which they could select one to handle the application.
The exact offers, brokers and financial institutions available through the platform may change, depending on the public offers currently open.
For example, Technext reported that the Dangote Petroleum Refinery IPO was the only offer displayed during its test of the service on September 23, although the available offers can change as new offers are introduced or existing ones close.
Investors therefore need to check the platform when they are ready to subscribe rather than assume that every public offer will always be available through the WhatsApp channel.
WhatsApp does not replace a stockbroker
One important point for new investors is that the new service does not remove the role of stockbrokers.
After beginning the process on WhatsApp, investors are still expected to choose a stockbroker through which their application will be processed.
NGX said this arrangement ensures that registered brokers remain an integral part of the investment journey, even though the investor is using WhatsApp as the interface for accessing the service.
This distinction matters because sending “Invest” on WhatsApp is only the beginning of the process.
Investors still need to review the offer, provide the required details, select the relevant broker and complete the payment and subscription requirements before an application is completed.
NGX expands digital access to investments
The WhatsApp integration is the latest expansion of NGX Invest’s distribution network.
NGX said the platform is already connected to more than 100 distribution channels, including stockbrokers, banks, fintech companies, mobile operators and other financial institutions through API connectivity.
Since NGX Invest was launched in 2024, the exchange said the platform has facilitated more than 23 primary-market transactions and supported more than ₦3 trillion in capital raising.
By adding WhatsApp, NGX is creating another route through which investors can reach public offers without having to begin their journey from a dedicated investment website or application.
For investors, the major change is convenience. For companies raising money through public offers, the additional channel potentially provides another way of reaching retail investors.
Investors need to watch out for fake WhatsApp accounts
The convenience of using WhatsApp also comes with a security concern.
Because investors will be entering a messaging platform to begin an investment process, they need to make sure they are communicating with the genuine NGX Invest account before providing financial or personal information.
NGX has advised investors to use only the official NGX Invest WhatsApp number and warned them not to disclose passwords, PINs, one-time passwords (OTPs) or other sensitive credentials to third parties.
The exchange also said that although WhatsApp is the interface through which investors access the service, subscriptions are processed through NGX Invest’s regulated infrastructure.
Investors should therefore be particularly cautious of anyone contacting them separately and claiming to represent NGX or offering to complete an investment application on their behalf.
What has changed for Nigerians?
The biggest change is not that Nigerians can suddenly trade stocks directly through WhatsApp.
Rather, NGX has created a new digital route for accessing primary-market investment opportunities.
Previously, investors could access NGX Invest through its online platform and other distribution channels. The WhatsApp option allows them to begin the process from a familiar messaging application and follow a guided process from there.
The new channel could be particularly relevant when major public offers attract attention from retail investors, as it gives them another way to find an eligible offer and begin an application.
However, investors still need to understand what they are buying, read the relevant offer documents, confirm the terms of the investment and use the official NGX channels before committing money.
For anyone considering using the new service, the starting point is simple: save the official NGX Invest WhatsApp number, send “Invest” and follow the prompts. But the investment decision itself still requires the same level of care as any other share subscription.
FAQs
Can I buy shares through WhatsApp?
NGX has introduced WhatsApp as a channel through which investors can access eligible public offers and begin the subscription process. Investors must still complete the required steps and select a stockbroker to process their application.
What number do I send “Invest” to?
Investors can send “Invest” to +234 812 731 9521, the official NGX Invest WhatsApp number published by NGX.
Do I still need a stockbroker?
Yes. NGX says investors will select a stockbroker through whom their application will be processed.
Is WhatsApp itself processing my share purchase?
No. WhatsApp provides the interface for accessing the service, while subscriptions are processed through NGX Invest’s regulated infrastructure.
Is NGX Invest only for IPOs?
NGX Invest provides access to eligible public offers, rights issues and initial public offerings (IPOs). The offers available through the platform depend on what is currently open.
What information may I need to provide?
The investment process can require personal and banking information. A test of the WhatsApp service found requests for details including BVN, bank information, NUBAN account number and email address. Investors should only provide such information through the official NGX channel.