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50 Loan Apps to Avoid in Nigeria If You Value Peace of Mind

In recent years, loan apps have become a quick fix for many Nigerians in urgent need of cash. With just a few taps on your phone, you can get access to funds — but it often comes at a serious cost. While some platforms are licensed and follow proper lending practices, others operate in a manner that causes more harm than good.

From outrageous interest rates to unethical debt collection tactics and unauthorized data access, some loan apps have proven to be more problematic than helpful. Many users have reported cases of harassment, defamation, and even threats from these digital lenders.

If you’re looking to borrow money online, it’s important to be cautious. Below is a list of loan apps in Nigeria that have been linked with negative user experiences, unprofessional conduct, or privacy violations. It’s best to avoid them for your own peace of mind.

ALSO READ: How to Consolidate Debt with Loans in Nigeria

List of Loan Apps You Should Avoid

EasyCredit
EasiMoni
KashKash
Speedy Choice
GoCash
Soko Loan
Fast Money
GetCash
Icoin Loan
Naira Plus
9jaCash
LionCash
GMoney
9credit
Swiftkash
Hen Credit
Cash Door
Joy Cash
Eaglecash
Luckyloan Personal Loan
Getloan
Easeloan
Naira Naija
Cashlawn
Easynaira
Crediting
Yoyi
Nut Loan
Cashpal
Nairaeasy Gist Loan
Camelloan
Nairaloan
Moneytreefinance Made Easy
Cashme
Secucash
Creditbox
Cashmama
Crimson Credit
Galaxy Credit
Ease Cash
Xcredit
Imoney
Imoneyplus
Nairanaija-Instant
Nownowmoney
Naija Cash
Eagle Cash
Firstnell
Flypay
Spark Credit

Why You Should Be Careful

Most of the apps listed above are not approved by the Central Bank of Nigeria (CBN) or the Federal Competition and Consumer Protection Commission (FCCPC). Some have been flagged for:

Violating users’ privacy by accessing contacts and photos without consent.
Sending defamatory messages to borrowers’ contacts during debt recovery.
Charging hidden or excessive interest rates and fees.
Lack of customer service, making it difficult for users to resolve issues.

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What You Should Do Instead

Before downloading any loan app, verify if it is registered with the FCCPC and complies with Nigerian lending regulations. Stick to digital lenders that are known to operate transparently, with fair terms and data protection policies.

Also, consider other financial options such as credit unions, microfinance banks, or even support from trusted friends and family when you’re in a tight spot.