Which Loan App is Illegal in Nigeria? A Comprehensive List of Unauthorized Loan Apps in Nigeria


In recent years, the popularity of loan apps in Nigeria has skyrocketed, providing convenient and instant access to funds for individuals in need. However, with the increasing demand for online lending platforms, the proliferation of unauthorized and fraudulent loan apps has become a major concern. These fake loan apps deceive unsuspecting borrowers, leading to financial and personal information theft, harassment, and other fraudulent activities.

To protect consumers and ensure a safe lending environment, regulatory bodies such as the Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank of Nigeria (CBN) have taken action against these illegal loan apps. In this article, we will provide you with a comprehensive list of unauthorized loan apps in Nigeria, shed light on their deceptive practices, and guide you on how to report them.

The Rise of Fake Loan Apps in Nigeria

As the demand for quick and easy access to loans grew, so did the number of loan apps in Nigeria. Unfortunately, this also led to the emergence of fraudulent loan apps that prey on unsuspecting borrowers. These fake loan apps masquerade as legitimate lending platforms, promising instant loans without proper verification or documentation. However, their true intentions are far from helping individuals secure financial assistance.

How Fake Loan Apps Operate

Fake loan apps employ various tactics to deceive borrowers and exploit their personal and financial information. Some of the common methods used by these fraudulent apps include:

1. Identity Theft: Fake loan apps request personal and financial information, such as bank account details and KYC documents, under the guise of loan application processes. They then exploit this data for unauthorized transactions or identity theft.


2. Advance Fee Fraud: Some fake loan apps require borrowers to pay upfront fees, claiming it is for loan processing or guarantee purposes. However, these fees are nothing more than deceptive tactics to extract money from borrowers, with no intention of providing the promised loan.

3. Disappearing Acts: After collecting funds or personal information, fake loan apps may disappear or become inaccessible, leaving borrowers without the loan they were promised.

4. Evading Compliance: These fraudulent apps often change their names, domains, and appearances to evade detection and regulatory compliance.

FCCPC’s Crackdown on Unauthorized Loan Apps

The Federal Competition and Consumer Protection Commission (FCCPC) serves as the frontline regulator, protecting consumers and promoting fair business practices in Nigeria. In response to the proliferation of unauthorized loan apps, the FCCPC has taken strict measures to ensure compliance with regulatory guidelines.

The FCCPC maintains a list of loan apps that have either operated without regulatory approval or violated the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending. These unauthorized loan apps have been deemed illegal and are subject to delisting and other sanctions.

List of Unauthorized Loan Apps in Nigeria

The FCCPC, in collaboration with other regulatory bodies, has identified several loan apps that do not comply with regulatory guidelines and are therefore considered illegal in Nigeria. It is crucial to be aware of these unauthorized loan apps to protect yourself from falling victim to their deceptive practices. Here are some of the loan apps that have been listed for delisting:


1. Cash Door App

2. Cashlawn App

3. Cashmama App

4. Cashme App

5. Cashpal App

6. Camelloan App

7. Crediting App

8. Crimson Credit App

9. Creditbox App

10. Eagle Cash

11. Eaglecash App

12. Ease Cash App

13. Easeloan Apps

14. Easynaira App

15. Firstnell App

16. Flypay

17. Galaxy Credit App

18. Getloan App

19. Hen Credit Loan App

20. Imoney

21. Imoneyplus-Instant

22. Joy Cash-Loan Up To 1,000,000 App

23. Luckyloan Personal Loan App

24. Moneytreefinance Made Easy App

25. Naira Naija

26. Nairaeasy Gist Loan App

27. Nairaloan App

28. Naira Naija

29. Naija Cash

30. Nairanaija-Instant

31. Nownowmoney

32. Nut Loan App

33. Secucash App

34. Spark Credit

35. Swiftkash App

36. Xcredit

37. Yoyi App

Please note that this is not an exhaustive list, and new unauthorized loan apps may emerge over time. It is crucial to exercise caution and conduct thorough research before engaging with any loan app in Nigeria.

Reporting Unauthorized Loan Apps

If you come across an unauthorized loan app or suspect fraudulent activity, it is essential to report it to the appropriate authorities. Reporting these illegal loan apps helps protect other individuals from falling victim to their deceptive practices. Here are steps you can take to report unauthorized loan apps:

1. Federal Competition and Consumer Protection Commission (FCCPC): The FCCPC is the primary regulatory body responsible for consumer protection in Nigeria. You can report unauthorized loan apps to the FCCPC through their official website or contact them directly for assistance.

2. Central Bank of Nigeria (CBN): As the apex regulatory body for financial institutions in Nigeria, the CBN plays a crucial role in combating fraudulent practices. You can report unauthorized loan apps to the CBN through their designated channels or seek guidance on the appropriate course of action.

3. Law Enforcement Agencies: If you believe that an unauthorized loan app is involved in criminal activities, it is important to report it to the relevant law enforcement agencies in Nigeria. They have the authority to investigate and take legal action against these fraudulent entities.

Genuine Loan Apps Approved by CBN

While unauthorized loan apps pose significant risks, it is essential to remember that there are legitimate lending platforms approved by the Central Bank of Nigeria (CBN). These genuine loan apps operate within the regulatory framework and prioritize consumer protection. When seeking financial assistance through loan apps, it is crucial to conduct thorough research and choose reputable platforms. Here are some genuine loan apps approved by the CBN:

  1. Carbon
  2. Renmoney
  3. Branch
  4. FairMoney
  5. Okash
  6. Palmcredit

Check out banks offering instant loans without collateral in Nigeria 

Please note that this is not an exhaustive list, and there may be other genuine loan apps approved by the CBN. Always verify the credibility and regulatory compliance of a loan app before engaging with their services.

Protecting Yourself from Fake Loan Apps

To safeguard yourself from falling victim to fake loan apps in Nigeria, here are some essential tips:

1. Research and Due Diligence: Before downloading or engaging with any loan app, conduct thorough research to ensure its credibility and regulatory compliance. Read reviews, check for proper licensing, and verify the app’s reputation.

2. Beware of Unrealistic Promises: Be cautious of loan apps that promise instant loans without proper verification or documentation. Legitimate lenders adhere to regulatory guidelines and require appropriate information to assess your credit history.

3. Protect Your Personal Information: Never provide sensitive personal or financial information to unauthorized loan apps. Legitimate loan apps follow strict data privacy and security protocols, ensuring the protection of your information.

4. Read the Terms and Conditions: Carefully review the terms and conditions of any loan app before proceeding. Pay attention to interest rates, repayment terms, and any hidden charges or fees.

5. Report Suspicious Activities: If you encounter any suspicious or fraudulent activities while using a loan app, report it to the relevant regulatory authorities immediately.

Remember, your financial security is essential, and staying informed about authorized and unauthorized loan apps is crucial in protecting yourself from financial fraud.


The rise of loan apps in Nigeria has provided individuals with quick and convenient access to funds. However, it has also given rise to unauthorized loan apps that deceive and exploit unsuspecting borrowers. To ensure your financial security, familiarize yourself with the list of unauthorized loan apps and report any suspicious activities to the appropriate authorities. Choose reputable and approved loan apps to meet your financial needs, and always prioritize your personal and financial information’s protection. By staying informed and vigilant, you can navigate the lending landscape safely and securely.


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