Join thousands of m-naira Group Savings as Software people saving together.

Build savings, make money. With help from your friends and family!

• Group Savings a peer to peer savings and loan service based on the principles of traditional rotating loans, savings, and cooperative society
• Group Savings enables a group of friends to create and manage monthly savings and loans online in three forms

Rotational Savings Clubs ( Group Savings)

What is Group Savings?

Group Savings helps people create and manage Rotational Savings Clubs with their friends and family members.

What are the Rotational Savings Clubs (Group Savings)?

A Rotational Savings Club is a group of individuals who save and borrow together in a form of peer-to-peer banking. Group members contribute funds into a pool on a regular basis, and then take turns withdrawing funds from the pool. Rotational Savings Clubs are also known as Ajo, Esusu or Otataje in Nigeria.

How  Group Savings Works

  1. Download the m-naira App and  register with your phone or email
  2. Setup Ajo savings group with a corresponded agreed amount and  Or Pick a group from the marketplace that corresponds with the needed amount and your preferred payment terms.
  3. Pick a position in the group’s rotation and make  regular group  contributions
  4. Invite your  friends & family  to join your group and Reach your saving goal
  5. Take turns withdrawing funds  from the group  savings pot
  6. Complete your commitment to the group and your new payment history will incrementally unlock special community privileges.
  7. Registered users create a new Peer (lead member), set ground rules, invite members to join, etc.
  8.  Registered users can join existing Peers if they find the ground rules suitable to them and satisfy some administrative verifications
  9. Users pay in a pre-agreed monthly amount to their Group Savings group account. Payout and loan depend on the form of their group and the purpose
  10. lock special community privileges.
  11.  Payouts can be transferred m-naira wallet or bank account or other available channels.
  12. Everyone Pays-In agreed amount weekly, biweekly or monthly. Group Savings takes all the money automatically and stores it securely on your behalf. At the end of the week, biweekly or month, one person is randomly selected to get all the money as a lump sum pay-out. Group Savings pays directly into your bank account.
  13. Repeat every day, week, biweekly or month until everyone has had a pay-out. It’s really as simple as that.

Group Savings Group Fees

Are there transaction fees?

Group Savings charges each group a flat subscription fee of 3%  per pay-out cycle to whoever is taken the slot for the lump sum, which is rotated to each member’s taken turn in the savings group. The Group Savings group fee system charges fee base on the total amount per slot taken by Group Savings Group members. Fee for Group Savings  is charged when the user receives payment on their taken turn. The fee is calculated base on their taken turn position and the total lump sum by percent.  Withdraw from Group Savings Group to member Wallet or bank account 3%. We do not charge any other fees at this time.

Example 1: if there are six (6) members in a savings group, and they each make monthly contributions of ₦5000 into a Lump sum (₦30,000) for a member taken turn to receive as payout fund,  each member has taken turn will pay a fee of 3% of the Lump sum (₦30,000) per turn. Which in this case will be ₦750.

Group Savings Payment Protection

If anyone in the group falls behind with payments, m-naira will take over their payments to protect the group. Guaranteed!

What if someone abandons the group and stops making payments?

If anyone in the group suddenly stops making payments, Group Savings will take over their payments to protect you and the group. Guaranteed! Learn more about our Payment Protection by reading our Late or Default Payments section below.

What if there are not enough people by the start date of the money pool?

The moderator will need to push back the start date to allow time for more people to join. No one will make their first payment until the pool is filled and has officially started.

Is this legal, it sounds like a Pyramid scheme?

Yes it’s legal. A Pyramid scheme by its nature can never satisfy all the members involved. A money pool, on the other hand, will not be completed until every member receives their payout. We guarantee it, as long as you stick to your payment schedule.

Can I join  Group Savings?

Yes, but if the new pool exceeds your available money pool limit, the system will restrict you to the last few positions of that group.

Late or Default Payments

What happens if someone in my group is late with their payment?

A late payment from any group member will temporarily inconvenience the next person set to receive their payout. We suggest you group together with high rated users who have a track record of making their payments on time.

Why do I need money in my m-naira wallet account?

Your m-naira account must have balance at all-time in the m-naira platform so that payments between group members can be processed automatically and in a way that is convenient for you. All member must fund there m-naira wallet account prior to the schedule date.

How do I make group payments?

Payments are auto-withdrawn from your m-naira wallet account  9:00 Am  Nigeria time on scheduled payout day to the m-naira wallet account of the member taken turn that day. Turn taker member can also withdraw to bank account instantly via Paystack and Interswitch.

How do I receive group payouts?

Group payouts are made available on the scheduled payout day in the “Payouts to Collect” menu option in your respective groups. To initiate transfer go to the “Payouts to Collect” tab and click on the respective payment. If there are no available payouts you will see an empty screen stating “No Payouts To Collect.”

Can I use a credit card to participate in a group?

No, not at this time, because credit cards have high transaction fees.

Are there any user transaction limits?

Yes, users are limited in their transaction volume for compliance and security reasons. Users can have up to  ₦150,000 daily,  ₦1000,000 monthly, and  ₦5,000,000 annually in transactions one-way.

What happens when a group member does not keep their payment commitment?

If a person doesn’t make their contributions, Group Savings may report their default to the credit bureaus just like any other unpaid bill.

Prior to reporting to a credit bureau Group Savingswill notify the user of their late payment via electronic message so that they have an opportunity to rectify the matter.

What happens if I forget to pay?

Ajo will auto-withdraw the necessary funds from your m-naira wallet account or linked bank account 1 days prior to the payout date. For example: if you have a monthly group and the next payout is due on April 1st, Group Savings would auto-withdraw the funds on the 26th of March.

Can I see a record of my payments to my group members?

Yes. Please (1) click on your group’s icon; (2) enter the “My payments to this group” tab; (3) swipe down to refresh the screen; and (4) click on the payment you want to view.

Can I see a record of all payments made into my group?

Yes. Please (1) click on your group’s icon; (2) enter the “Payments made to this group” tab; and (3) scroll down the screen to view the group’s payment history.

Can I see my group’s payment schedule?

Yes. Please (1) click on your group’s icon; (2) enter the “Upcoming payouts” tab; and (3) scroll down the screen to view all scheduled payments for the group.

Joining and Leaving Groups

How do I create a group?

Once you have downloaded the app and completed the registration process, it will prompt you to create a group. You will need to enter a group name, set the number of members, amount of each payment, and frequency of payment.

Once you have set the basic parameters you will need to invite members to join the group. All members you invite will receive a  chat or text message from Ajo inviting them to join your group. Prior to joining the group, they will need to download the app and fund their wallet account on the m-naira App.

What are my obligations as a group leader?

As a group leader you have the following obligations: (1) set the savings and payout parameters of the group; (2) invite people to participate; and (3) help encourage group members to keep their savings commitments.

How do I join a group?

If you do not set up a group yourself, you may be invited to join a pre-existing group. Invitations are issued by text message and email.

Can I join a group if I am not invited?

At the moment you must receive an electronic invitation to join an existing group. You can also create your own group.

What if someone abandons the group and stops making payments?

Group Savings will send an electronic warning notice to any individual who fails to keep their commitment to the group they are a part of. If the group member owes money to other members, Group Savings will process an auto-payment from that person’s linked bank account. If the withdrawal attempt fails, the individual will be blocked from joining new groups on the Group Savings platform, and any balance they owe may be sent to a collection agency. The missed payment may also be communicated to credit bureaus.

Can I leave a group before the payment cycle is complete?

No, once you have committed to joining a group you need to stay a part of it until the payment cycle is complete. It would be unfair to other group members if you were able to terminate your agreement in the middle of the cycle.

How is the order of payouts chosen?

The group payout order is determined by the group leader prior to the start date of the group.

Are there any limits on group size?

Yes. At present we require all groups to have at least 3 people prior to starting.

What if my group has less than 3 people on its scheduled start?

The group will be held in the “Pending” category and you will receive a notification that your group does not have enough people to start. Once your group reaches 3 or more people you will receive a notification that asks you to select a new start date.

How many cycles are in each group?

Each group has as many cycles as it has members. For instance: for a 5 person group, there will be 5 cycles so that each member receives a payout.

What happens after all the cycles are completed?

The group will move from “Active” to “Archived” status. The group leader then has the option of restoring the group with the same members.

What if I want my group to continue past a cycle?

After a group moves to “Archived” status you can restore the group with the same members and parameters. To do so please: (1) navigate to the “Archived” screen in the groups tab; (2) click on the group you are interested in; (3) scroll to the bottom of the screen; and (4) click the “Restore” button. From there follow the steps laid out on the screen to adjust the group parameters and restore your group.

What happens when a group starts?

The group will move from “Pending” to “Active” status. You will receive a corresponding notification to let you know your group is active. You will also have the option to make a payment by: (1) navigating to “Active” groups; (2) clicking on your group’s icon; (3) scrolling to the bottom of the screen; and (4) clicking the “Make payment” button.

Can the payout order be changed after the cycle has already started?

Yes, Member are allowed members to request changes to the payout order.

Create Group is a peer to peer savings and loan service based on the principles of traditional rotating loans, savings, and cooperative society. 

It will be rotational as per the selected slot. Your share of the amount will be deducted from your m-naira wallet balance automatically as per the given date. You will be notified once your wallet is debited for this feature.

Create Group (You will become Admin of the group)


  • Open m-naira App
  • Select Ajo(esusu) ->  Click on Create a New group
  • New screen will open which asks you to enter Group Name, Group description, Number of group members, group payment frequency, start date, lump sum amount per slot and group visibility.
  • Click on NEXT -> Select group members either by selecting from contacts list or enter it manually and click on ADD
  • Click on NEXT -> Enter how do you know other group members and how long you met each other.
  • Click on NEXT -> Select any slot from given list.
  • Click on NEXT -> Accept term and conditions of the group.
  • Click on NEXT -> Detail confirmation screen will show all the entered details.
  • Click on CREATE GROUP -> App will call Create Group API (API call Create Group) and if everything is ok app will show success screen otherwise error screen will show with an appropriate message and user can re-try from there.
  • If everything is ok, app will send invitation by PUSH and SMS to each member of the group. Member can accept this invitation if he/she wants to become part of this group.

Group Invitations

You will receive PUSH and SMS for group invitations if you are invited by group admin.


  • Open m-naira App
  • Select AJO(esusu) -> Select Group Invitations
  • New screen will show list of all the group invitations you have received.
  • Click on any group request -> detail screen will open which shows group information.
  • You can either decline or accept this group invitation.
  • To accept this invitation, you need to select slot from available slots as per the number of group members of the group.
  • Once you accept this invitation, admin of this group will receive PUSH that you have accepted his group invitation.
  • Admin of the group can Remove any Member, Add new Member to the group, Make admin to any member and Remove Admin.

Join Group

You can join any pre-existing group by sending request to the admin of that group.

Join Group Request


  • Open m-naira App
  • Go to Ajo(Esusu) -> Select Join Existing Group
  • App will show all the public groups, select any group from drop down, enter source of income and profession.
  • Click on NEXT -> Screen will show details of group like group name, description, created date and admin of that group.
  • Click on NEXT -> Accept terms and conditions of group.
  • Click on JOIN GROUP -> App will send group join request to Admin of the group.
  • If everything is ok, app will show success screen with message otherwise error screen will show.
  • On success, app will send PUSH to the admin of the group. Admin can accept that request and you will be notified about that.

Received Join Group Request

Admin can view all the received requests for joining a group. Admin can Accept this request if he found member appropriate.


  • Open m-naira App
  • Select AJO(esusu) -> select Join Group Requests
  • If you are admin of any group, app will show list of existing requests received for join group.
  • Click on any request -> Detail screen will open which show group information in detail.
  • You can accept this request by clicking on the ACCEPT button at the bottom of the screen.
  • On Success, app will send PUSH to new member and this member will be added to group.