ONE ECONOMY TO RULE THEM ALL:

But from this crisis is emerging a series of fintech platforms that are helping young Nigerians save better. There's PiggyBank, which launched in 2016 and works on simultaneously securing money and instilling financial discipline. Customers earn a minimum of 6 percent annual interest, and if they keep their savings longer, can secure even higher returns. Between 2016 and 2017, it built a savings customer base of more than 53,000 registered users. CowryWise, which started in July 2017, combines digital savings and investments with wealth management, all online. Over the past year, its user base has grown 30 percent month-on-month. Alat, launched in May 2017, describes itself as Nigeria's first digital bank. Diamond Bank, a retail bank, in 2016 launched what it calls the Diamond eSUSU platform, modeled after Esusu, a traditional West African contributory and rotational savings practice.

Their strategies vary, but they share a common core market: Nigerian millennials. And they're tapping distrust of Nigeria's commercial banks while leveraging the digital comfort enjoyed by this demographic.

"Most millennials couldn't be bothered to save in banks because there is a general distrust of the banking system in Nigeria," says Seun Oyajumo, an investment and venture analyst, before arguing that digital savings platforms like PiggyBank appear to be clicking with this section of Nigerians better. "PiggyBank has taken a different approach to customer service and is not failing in its promises."

A year since launching CowryWise, founders Razaq Ahmed and Edward Popoola aren't sitting at ease, despite the rapid growth in their customer base. Because of the volatility of Nigeria's economy -- Africa's largest -- Ahmed emphasizes that just savings aren't enough. In addition to savings, CowryWise offers financial advisory services. "Because the Nigerian economy doesn't run as optimally as it is supposed to, saving will never be enough," says Ahmed. "Arming people with knowledge of finances is something that needs to be done."

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