List of Fake Loan Apps in Nigeria; It’s a common understanding that fake and illegal loan apps in Nigeria steal money, go as far as harvesting sensitive data from unsuspecting users, as well as employ abusive recovery approach which involves but not limited to;
- Threatening contacts
- Leaking private images, etc.
The FCCPC, CBN, and EFCC have been at the forefront of active actions to forestall the activities of these fraudulent fake loan apps in Nigeria.
This guide will not only list fake loan apps in Nigeria, it as well as looks to help you identify similar ones since they often change identity, however, retain unique and similar operational pattern.
It’s a matter of grave concern there should be a concerted effort aimed at eradicating these bad eggs from the Nigerian financial market.
Victims often lose money, identity details and most times social reputation following how such apps leak or weaponize contacts and photos.
Given the list often changes, be sure to look up regulation channels before applying with any of the existing online loan apps in Nigeria.
How fake loan apps work
I promised to take you by the hands and guide you through understanding and identifying these apps, this does not only ensure you deal with the right lender, it saves your social reputation, protects your sensitive details and bank accounts at large.
1. You are required to pay up-front fee: If you are asked to pay a processing fee before a loan is considered, approved and granted, it’s sure a clear red flag you must not handle with kids gloves. You are most probably dealing with scammers who will disappear into the thin air after you completed such payment.
2. Require permission to your device: Most often, such apps require you grant its artificial intelligence permission to scan your phone contacts, SMS, photos, microphone, call logs, such data is used to intimidate and harass you in a situation you were not able to meet the repayment date.
3. Harassment: If a loan app sent you threatening SMS, calling every contact in your phone, or threatening to publish your photos, search no further, it’s a fake loan app.
4. No verifiable company information: Such loan apps do not have physical office address, no corporate registration, poor or missing customer support contact.
5. Not registered with regulators: Not listed in FCCPC/CBN, or other official registries.
How to verify a loan app in Nigeria
Search FCCPC & Regulator Announcements: FCCPC maintains guidance and processes for digital lenders are required to follow.
You will need to check for registration, complaints being lodged by existing users prior.
Check the CBN industry list: It’s a common information that some apps have been blacklisted and delisted by the Central Bank of Nigeria.
You may need to look for official press releases on the national dailies, pay key attention to current publications as well.
Google the company name and registration RC: An approved and legally existing outfit should be registered with the Corporate Affairs Commission, better still have a physical office. Lack of verifiable company details is a red flag.
Check app store reviews: Carefully search for repeated complaints by users on app store, scan for; harassment, data theft.
Do not outrightly trust many 5-star reviews will little detail, such reviews are possibly fake.
Decline unnecessary permission: If an app requires photo access or your contacts before approving a small loan, do not proceed.
List of Fake Loan Apps in Nigeria (2023)
According to Punch Newspaper, On August 1, 2023, FCCPC requested Google remove illegal apps operating without regulatory approval or in violation of the limited interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (guidelines), from its play store, THE PUNCH reports.
Here is the list of 37 delisted loan apps effect of the above communique;
- Swiftcash App
- Hen Credit Loan App
- Cash Door App
- Joy-Cash Loan
- Eaglecash App
- Luckyloan Personal loan App
- Getloan App
- Easeloan Apps
- Naira Naija
- Cshlawn App
- Easynaira App
- Crediting App
- Yoyi App
- Nut loan App
- Cashpal App
- Nairaeasy Gist loan App
- Camelleon App
- Nairaloan App
- Moneytreefinance Made Easy App
- Cashme App
- Secucash App
- Creditbox App
- Cashmama App
- Crimson Credit App
- Galaxy Credit App
- Ease Cash App
- Xcredit
- Naira Naija
- Imoneyplus-instant
- Nairanaija-instant
- Imoneyplus Instant
- Nownowmoney
- Naija Cash
- Firtsnell App
- Flypay
- Spart Credit
- Luckyloan personal loan App
The last time I checked, some of the blacklisted loan apps are still very active in Nigeria, providing online loans to consumers.
Disclaimer
Does it mean you should not use such platforms or continue using them?
Well, my honest response will not be to avoid them, however, you should be able to study their antecedent, customer reviews, loan recovery process, amongst other factors.
Having put that into consideration, the option to borrow or not from them is solemnly yours. This is where your risk appetite comes in.
Which loan apps are not approved by CBN?
The Central Bank of Nigeria to the best of my understanding at the time of writing this piece has not issued an official list of blacklisted loan apps, but a list of apps that are generally not approved by the CBN include but are not limited to;
- Swiftkash
- Nut Loan
- Cash Door
- Joy Cash and
- Luckyloan.
These apps were said to often engage in unethical practices like harassment and may not have the necessary license to operate in Nigeria.
What are the new loan apps in Nigeria 2025?
A few new loan apps in Nigeria in 2025 include but are not limited to;
- KwikPay Nano Loan
- Yanzu Credit Loan
- YesCredit Loan
- SyCamore Loan app
How to identify a fake loan app in Nigeria
To find and identify fake loan apps, download only from official app stores, check for regulatory registration, be wary of upfront fees and unrealistic officers, ensure the app has secure, professional design with clear contact information and loan terms.
Verify that the lender uses robust KYC (Know Your Customer).
Other identity checks include;
- Checking for official registration
- Look for partnerships
- Verify contact and physical address
- Watch out for unrealistic promises
- Read customer reviews.
Which loan app is licensed by CBN
Some Of the loan apps licensed by CBN include;
- FairMoney
- Carbon
- Branch
- RenMoney
- Aella, and
- Palmcredit
- Okash
- New Credit, etc.
How do I find a fake loan on me?
Are you aware you could be living your life, and some fraudulent individuals will create and access a fake loan on your name, this is much in practice at this time.
Here’s how to make sure no fake loan is on your name;
1. Regularly check your credit report from the credit bureaus
2. Monitor your bank statement carefully for unusual loan-related transactions, repayments, or deductions you didn’t authorize.
3. Investigate unexpected loan messages or calls. If you receive communication about a loan you don’t recall applying for, contact the lender directly to confirm its authenticity and take necessary action.
Which loan app is linked to Opay
The loan service previously link to Opay was Okash, though it is no longer integrated into the Opay app. Opay now offers its loan service called EaseMoni.
Which is the most trusted loan app in Nigeria
- Branch
- FairMoney
- Carbon
- Aella
- RenMoney
- Okash
- Sycamore
- Kuda
- NewCredit
Conclusion
List of fake loan apps in Nigeria; The FCCPC, CBN, and EFCC have been at the forefront of active actions to forestall the activities of these fraudulent fake loan apps in Nigeria.
This guide does not only list fake loan apps in Nigeria, it as well as helps you identify similar ones since they often change identity, however, retain unique and similar operational pattern.
It’s a matter of grave concern there should be a concerted effort aimed at eradicating these bad eggs from the Nigerian financial market.
Victims often lose money, identity details and most times social reputation following how such apps leak or weaponize contacts and photos.
Given the list often changes, be sure to look up regulation channels before applying with any of the existing online loan apps in Nigeria.