Even though Abeg is an established Fintech company in Nigeria, many people still didn’t know about the company with its Abeg app or take it seriously until the Big Brother Naija Season 6 was aired.
That was when people took notice of the two sponsors of the Big Brother show which were Abeg and Patricia. Abeg sponsored the Big Brother show with two billion naira while Patricia sponsored with one billion naira.
Nigerians quickly took to the internet to learn more about the company called Abeg and in this article, we will throw in some light on what Abeg is, the people behind it, and what they offer.
What is Abeg?
First of all, it’s not our pidgin “abeg” which we commonly use in place of the English word “please”.
Abeg is a peer–to–peer payment app which makes sending and receiving money simple, quick, and fun. You can also use it to request funds, split bills, and create giveaways.
The concept is to breach the gap created by using our bank apps. We all know using traditional bank apps sometimes disappoints. Take buying something in the market and paying through transfer, and then waiting for the seller to receive the alert. That can sometimes cause “wahala”…especially if there is the bank network delays sending the alert.
This is one of the things that using the Abeg app can help you with.
Also, you can use the app to send money to people from your contact list (if they are registered users). You can also use the Abeg app to request money from friends, family, and even strangers using the “request for money” feature(if you have their IDs known as “tags” which is what the Abeg team refers to as “tags”, you can also ask for funds.
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Who owns Abeg app / Abeg founders?
Abeg was founded by Michael Okoh and Muheez Akanni who launched the app in September 2020. The app went viral on social media due to its similarities with Cash App as well as its unique social approach for receiving and making payments in Nigeria.
What does the Abeg app do?
The Abeg App lets you do multiple things at once. The best part about the Abeg app is that it doesn’t cost you anything to make transactions on it.
Abeg is completely free for sending and receiving cash or purchasing recharge cards. With zero fees, you can send and receive thousands in naira from and to your Abeg wallet.
The following are some of the things you can do with the Abeg app.
Abeg App allows users to host giveaways or join them. It’s hard not to love the idea that you can get free cash in Nigerian naira by doing nothing.
You can choose to withdraw your earnings to your local bank account, or you can also use your earnings to purchase airtime or settle other bills. You can also gift (a portion) of the funds to another user by simply using their Abeg tags.
2. Send money
You can send money to anyone if you have their Abeg tags. Otherwise, you can use the explore feature to find the person you are looking for. The minimum you can send is as low as one naira, whereas the maximum you can spend using the app is one million naira. You also have the option to send anonymous money to your friends and contacts
3. Abeg app referral
Abeg offers a referral program that anyone can participate in to make money. All you need to do is to Invite your friends and you will earn 500 Naira for each person that actually downloads the Abeg app and registers with them. This is one of the most innovative ways to make money through the Abeg App.
4. Abeg Clique
The Abeg Clique feature allows friends and users to share money in small groups. You and your friends or clique have the opportunity to share bills and payments using the Abeg app. This is a great way to catch those your friends that like to dodge responsibilities and commit them to share in any bills or payments.
We all know what “Ajo” means in Nigeia. A practice where a group of people get together to save a stipulated amount of money every week or month and each month or a set time, one member of the group will collect the money saved by all the group members and the next month another person will collect. It’s a great savings practice and popular in Nigeria.
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Although the Ajo and Clique features are still in development, the Abeg Team has indicated that they will soon roll out the loan feature.
7. Abeg Badges
Abeg provides decorative badges for users. Some examples of Abeg badges are:
- Mysterious smile
- Many thanks
- You are a darling
- Money Spender
These badges come in different categories. There are three types of badges: normal, premium, and rare. Abeg badges can be used to recognize, honor, and appreciate users for their contributions.
What does ABEG stand for?
Giveaways are a major reason why Abeg was established. If you follow the trend, you will notice that most social media influencers use giveaways to go viral due to the way Nigerians respond very quickly to giveaways…”who no like awuuf?”