How to Start Saving in Dollars for Stable ROI in Nigeria 

A family friend recently asked me about making savings in dollars from Nigeria, and I’ve also read similar questions online.

So, I think this is a good time to talk about setting up some savings in dollars, especially in the face of Naira devaluation.

In this article, we’ll look at a few ways to start saving in dollars right here in Nigeria, while also earning some reasonable ROI on the side.

Let’s get started.

Risevest Fixed Income

Risevest Fixed Income investment is a low-risk savings portfolio for anyone who wants to protect their money against inflation.

With just a minimum capital of $1 (~600 Naira), you can start investing in dollars in exchange for a respectable 10% ROI per annum.

You can save your money from a minimum of 3 months to 12 months, with interest paid at the maturity date.

According to Risevest, the funds are invested foreign portfolios of sovereign dollar-denominated bonds with maximum safety, so there is a low risk of capital loss.

Binance Flexible Savings

Binance Flexible Savings is a liquid fixed income savings plan that allows you to save in BUSD.

BUSD is a stablecoin which is equivalent to the U.S dollars, so when you convert your Naira to BUSD on Binance, it is the same as buying dollars, but in crypto stablecoin.

With Binance Flexible Savings, you can earn a 7% ROI per year, which is payable daily into your Earn wallet on Binance.

The good thing about this option is that you can start with as low as 0.1BUSD (~less than 100 Naira) and you can withdraw your funds at any time you want.

UBA Domiciliary account

If you want to go brick and mortar so as to always have your dollars in cash, then you can open a local Domiciliary account in Nigeria with UBA.

I’ve written previously that UBA is the easiest bank to open a domiciliary account in Nigeria, without any references and with just $50, which you can withdraw later.

However, with a Nigerian domiciliary account, don’t expect big ROI on your savings.

For example, the UBA domiciliary account gives a yearly return of just 0.1%, but the perk is that you have your cold hard cash in the bank and ready to be accessed at any time.

All you have to do is exchange your Naira for dollars at your local exchange and deposit the dollars into your UBA domiciliary account.

Pro tip: Buy your dollars in $50 denomination, as they are cheaper to buy than higher denominations, and you’ll most likely get a better price deal.


Out of all these options, I like the Binance Flexible Savings options due to its liquidity and daily earnings.

You could decide to withdraw your funds after one week or one month, and still have some accrued interest to flex with.

But your choice would solely depend on your kind of lifestyle and your financial plan going forward.




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