Bamboo and Cowrywise money apps stopped working after thousands of Nigerians rushed online at the same time to buy Dangote Refinery shares.
Two popular mobile money apps that Nigerians use for saving and buying company shares, known as Bamboo and Cowrywise, stopped working properly on September 14, 2026.
Thousands of regular people across the country opened their phones at the same time to buy official shares in the massive Dangote Petroleum Refinery.
The total number of people visiting the apps was so large that the computer systems behind the apps could not handle the load, causing login problems for many users who wanted to put their money into the new offer.
The main cause of this big digital traffic block was the official start of the Dangote Refinery share sale, where the company made 4.1 billion shares available for public buying at 525 Naira for one single share.
Because the minimum amount anyone needs to buy is just 10 shares for 5,250 Naira, millions of everyday citizens, including drivers, market sellers, and office workers, rushed online to secure their own portion before the sales close on October 13.
Money experts noted that while people were trying to buy through phone apps, large commercial banks were also taking orders through their own main online portals to help manage the huge crowd.
The leaders running the affected money apps immediately posted messages on social media to talk to their customers about the network trouble.
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Speaking about why users were finding it hard to open their phone app, the team at Bamboo posted a statement explaining the situation to their customers.
Explaining the network struggle on their official X account, Bamboo said, “Hey everyone, we’re getting much higher than expected traffic trying to get into the Dangote IPO, and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix, and it will be up and running shortly.”
The second popular savings app, Cowrywise, also shared a message to tell their own users that computer engineers were already fixing the problem.
Assuring their users that normal service would return soon, Cowrywise said, “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
Top news organizations across the country confirmed that while the apps had temporary network issues, the share sale itself is still open and running smoothly through many approved bank channels.
Jennifer Baba is a journalist, international news correspondent, and writer at Moderncrux, where she covers artificial intelligence, fintech, emerging technologies, global politics, and international affairs. Based in Nigeria, she is passionate about transforming complex global developments into clear, engaging stories that inform and inspire readers.
