Bad And Blacklisted Loan Apps In Nigeria
Loan Apps

Bad And Blacklisted Loan Apps In Nigeria June 2022 [UPDATED]

Bad And Blacklisted Loan Apps In Nigeria provided here is what you shoukld take not of when it comes If you are looking for quick loan. The majority of these fraudulent loan apps in Nigeria have a 7-to-14-day term, which is against Google’s policy on lending apps housed on their platform

Bad And Blacklisted Loan Apps In Nigeria

We have been conducting a comprehensive study on the activities of loan sharks and predatory and fraudulent digital lending apps that want Nigerians to believe they are legitimate businesses.

Our study has shown the presence of a slew of bad and blacklisted loan apps in Nigeria whose sole purpose is to defraud unsuspecting users who happen to use their lending apps for a loan.

These shady loan apps in Nigeria either demand an unlawful security deposit from potential consumers or require them to pay loan processing costs.

Some people like threatening and blackmailing clients at all times, criticizing them and using harsh words against them. As a result, we’ve put the lending sites on the blacklist and warned Nigerians to stay away from them at all costs.

We’ve chosen to make public a list of the top 15 terrible and blacklisted loan applications in Nigeria that are swindling and deceiving Nigerians, operating unlawfully, and breaking our local lending regulations as well as Google’s rules for loan apps hosted on their network.


What Blacklisted Loan Apps Mean According to Google

This is unethical. Our list of blacklisted loan apps are lending platforms that will demand that customers submit their ATM Card details to them before accessing loans. And many time deduct what they call upfront fees and oan charges from their debit cards.

How To Identify Blacklisted Loan Apps In Nigeria

In Nigeria, how can you tell whether a loan application has been blacklisted?

The majority of these blacklisted lending apps in Nigeria have a duration of 7 to 14 days, which is against Google’s policy on loan apps housed on the Play Store and against Nigerian legislation.

Take a look at what Google has to say about loan terms:

Financial Services

We don’t allow apps that expose users to deceptive or harmful financial products and services.

For the purposes of this policy, we consider financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.

If your app contains or promotes financial products and services, you must comply with state and local regulations for any region or country that your app targets – for example, include specific disclosures required by local law.

Others have turned their platforms into loan sharks, terrorizing customers with exorbitantly high interest rates, sometimes as high as 50% for a seven-day period, and then harassing the customers and their contacts with malicious and defamatory words even though the loan is still a day away from expiration. This is unethical behavior.

Our blacklisted loan apps are lending platforms that require clients to provide their ATM card information before they may receive loans. And many people use their debit cards to deduct what they call upfront fees and loan charges. Please do not give your ATM card to any loan application.

Some of the other bad loan apps we found are breaking Google network laws when it comes to the data they collect. According to Google, data collected by apps on its Play Store is as follows:

You must be open and honest about how you manage user information (e.g. information collected from or about a user, including device information). That entails declaring your app’s data access, collection, usage, and sharing, as well as limiting the data’s use to the stated aims. In addition, if your app handles personal or sensitive user data, please see the ‘personal and sensitive user data’ section below for extra requirements. These Google Play standards are in addition to any privacy and data protection legislation that may be applicable (in your domiciles country).

Finally, the majority of Nigeria’s poor and blacklisted lending apps now charge illegal loan service fees while claiming to offer cheap interest rates. This is completely inappropriate. Nigerians are advised to leave and avoid any of the prohibited loan apps listed below at all costs.


Top 15 Bad And Blacklisted Loan Apps In Nigeria

Many of these fraudulent lending applications don’t have a physical business address, a website, or even an online presence, yet they managed to sneak into the Google Play Store and start defrauding impoverished Nigerians of their hard-earned money.

When more of these lending applications are revealed to be breaching Google’s set down regulations, Google should shut them down.

Our top 15 bad and blacklisted lending apps in Nigeria are mentioned below. Borrowers and clients are advised to avoid them at all costs.

Several clients and potential borrowers have been duped and conned, and their bank accounts have been fraudulently emptied as a result of many of these fraudulent digital lending apps.

1. NairaPlus

2. BorrowNow

3. LCredit

4. 9ja Cash

5. Cash Wallet

6. GGMoney

7. 9Credit

8. Sokoloan

9. Palmcash

10. Ease Cash

11. ForNaira

12. GotCash

13. Ncash

14. GotoCash

15. FastMoney

1. NairaPlus Loan App

NairaPlus Loan App is a mobile application that allows you to borrow money in Naira

NairaPlus is the first app on our list of Nigerian bad loan apps. The scam lending platform is one of the Google Play Store’s quick loan applications that are compromising their customers’ data privacy and sending blackmailing and threatening messages to their connections if a loan repayment default is reported.

We understand that this violates their customers’ data privacy policies, which the various lending applications pledged to follow while registration and hosting on the Google Play Store. Local rules also compel any loan app or lending company operating in Nigeria to do so.

NairaPlus is the first app on our list of blacklisted loan applications in Nigeria. We warn all Nigerian consumers to avoid using the NairaPlus loan app since it has repeatedly broken local laws and Google regulations.

Please see the defamatory message below. A day before a loan repayment was due, NairaPlus sent an email to one of its customers.


This is the Google Play Store link for NairaPlus. Consumers and borrowers in Nigeria should avoid using these prohibited loan apps.

2. BorrowNow Loan App

BorrowNow is a loan application that you can use to get a loan.

BorrowNow is the second app on our list of bad loan applications in Nigeria. We encourage all Nigerian loan applicants to avoid BorrowNow’s services due to its exorbitant interest rates, failure to comply with Nigerian local regulations, and violation of Google’s loan term policies.

BorrowNow is a bad loan lender that is known for sending threatening and libelous communications to its consumers and borrowers. Nigerians should stay away from it like the plague. As a result, it has been added to our blacklist of loan apps in Nigeria.

3. LCredit Loan App

The proliferation of bad loan apps in Nigeria is quickly jeopardizing and threatening the financial and digital space, which has facilitated financial inclusion for many citizens who were previously unable to access the traditional banking system, and unless regulatory authorities check their operations, more crises may be on the way.

We exclusively reported last year that Google has deleted LCredit, Rapid Transfer, and other yet-to-be-identified quick loan apps from its Play Store for breaking its operational regulations.

Because the bogus loan app was identified by Play Protect, the security system on Google Play Store that monitors apps hosted on its network for dangerous and fraudulent activity, LCredit was blacklisted by Google and prohibited from its Play Store, according to our study.

Google noticed that the LCredit app was attempting to spy on its users’ phone contacts, recordings, photos, and other personal information on their Android devices, in violation of Google’s privacy policies.

LCredit loan application

“This app (LCredit App) aims to spy on your personal data such as sms messages, photographs, audio recording, or call history,” Play Protect by Google informed users yesterday. It went on to say that users should uninstall the blacklisted LCredit app from their phone right now, and that if they don’t, they’re doing it at their own peril.

We met with some customers who confirmed Google’s claim that LCredit and other loan applications were unlawfully snooping on their phones.

One of these is “Truly LCredit do spy on individual account, phone storage, contacts, messages and start calling your contacts and messaging them on WhatsApp and through normal messaging,” Folafaith told us on October 22, 2021 at 6:48 a.m. If you don’t pay even for a day, they’ll contact all of your contacts and label the individual a fraudster.”

“This scam activity is not exclusive to LCredit; several other loan applications, such as Sokoloan, Credit9ja, True Naira, Naira Plus, KasKash, and Easycredit, engage in it as well.” Sokoloan, for example, will tell you to sell your house to repay them, despite the fact that you are unwell.”

“Most of these blatantly phony quick loan applications snoop on your private information,” said Tunji Adeleke on October 22, 2021 at 7:04 a.m. They also monitor your SMS alerts to see when you get paid and other details. They’ll gather your phone contact list and start sending them threat messages and even calling some of them.”

Another app user was perplexed by the phrase We. “I can’t find LCredit app on google again, what actually happened?” says Vivian on October 21, 2021 at 2:21 pm. Because I borrowed from them.”

On October 21, Obinna Michael expressed his dissatisfaction with the loan application. “Money that has been paid with proof of transaction slips, LCredits lending app keeps sending messages to contacts,” he adds to the query. If their systems are broken, they should repair them before entering the industry!”

Remember from yesterday’s story that LCredit is a quick online lending app that, despite thousands of successful downloads on the Google Play Store, lacks an online presence in the form of a website or a single physical location. Of course, this was a red signal on the now-banned loan app. LCredit is a phony loan app that Nigerians should stay away from at all costs.

4. 9ja Cash Loan App.

The 9ja Cash Loan App is a mobile application that allows you to get a cash loan

The dangerous and outlawed Sokoloan lending app owns and manages the 9ja cash loan app, which is another bogus loan app.

9ja Cash, which we believe is owned and operated by Sokoloan Lending Company, is the fourth inclusion in our list of bogus loan apps in Nigeria. We strongly warn all Nigerian loan applicants to avoid 9ja Cash loan app’s services like the plague.

They threaten you with slanderous communications, which they send to everyone on your contact list. This is unethical and unacceptably unprofessional.

9ja Cash

As a result, our platform has placed this loan app on the blacklist. This is a violation of data security. They also charge a high interest rate, deduct security fees from your account, and limit your loan term to 7 days instead of the required minimum of 60 days.

5. Cash Wallet loan App

In Nigeria, there is a scam and a bad lending software that deducts an illegal ‘down payment’ from your debit card.

Cash Wallet is one of Nigeria’s blacklisted loan apps. The lending platform promises to be a personal loan app in Nigeria that allows you to receive rapid loans from anywhere at any time using your mobile phone. According to the website, its goal is to make financing more accessible to Nigerians. However, based on our research, this claim is false.

Product of the loan:

– Amount of Loan: 3,000 – 100,000 (FALSE. Cash Wallet does not issue loans; instead, after your debit card is registered with them, it deducts a ‘down payment’ ranging from N3,000 to N10,000.

– Loan Term: 92 days minimum, 365 days maximum/ (FALSE. It never extends a loan. If it occurs, it won’t last more than seven days.) All of the reviewers we included confirmed that Cash Wallet does not offer out loans, but instead deducts money from their ATM card without their permission.

The APR ranges from a minimum of 16 percent to a maximum of 35 percent ( Annual Percentage Rate). FALSE. No one can get a loan from Cash Wallet.

– Other Fees: There are no other fees (FALSE. Without offering you a loan, Cash Wallet deducts a service charge in the form of a down payment from your registered debit card.

All of the above-mentioned CASH WALLET claims are fake, fraudulent, and written to defraud Nigerians. This is why Cash Wallet has been placed to our blacklist of loan apps in Nigeria.

This is the Google Play Store link for Cash Wallet. This app should be avoided by Nigerian customers and those in need of a quick loan. This is number five on our list of phony loan apps in Nigeria. If you’re still not convinced, browse a couple of Cash Wallet’s evaluations on the Google Play Store.

6. GGMoney Loan App

GGMoney is a mobile application that allows you to borrow money.

We is at the vanguard of a campaign in Nigeria to expose loan sharks and bogus loan applications for their immoral and unethical methods towards their consumers and contact lists, which is gaining traction as the Federal Government begins to pay close attention to their activities.

Remember that We previously published a series of public awareness and news reports about the activities of these fake loan apps, naming some of them by name and even alerting Google Play Store, which hosts the majority of them, resulting in Google removing some of the questionable apps from its Play Store.

Right now, the advocacy is becoming more powerful, and the Nigerian government is considering penalizing some of those who have breached citizens’ data privacy rights.

We is a place where you may get a loan quickly. However, we will not stop until all of these loan sharks are brought to justice, and we have made the decision to continue exposing them. GGMoney is a fraudulent app that should be avoided at all costs.

This lending app is accused of violating its users’ data privacy rights in the name of’recovering their debt.’

GGMoney has been accused of a number of unethical actions by the company and its inexperienced employees, as well as a high and stratospheric interest rate.

It’s a poor and dreadful borrowing app, and we’re not only blacklisting it; we’re also advising borrowers to stay away from it.

This is the Google Play Store link for GGMoney. This app should be avoided by Nigerian customers and those in need of a quick loan.

7. 9Credit Loan App

9Credit is the seventh app on our list of blacklisted lending applications in Nigeria. We encourage all Nigerian loan seekers to avoid using the 9Credit loan app because of its unethical and unethical methods. Customers were charged a high interest rate that was suspicious. For granting loans for only seven days instead of the minimum of 60 days required by law. And for constantly slandering and threatening its consumers and their contact information.

Please see the defamatory message below. 9Credit was sent to persons on one of their customers’ contact list. These were individuals who were neither guarantors nor parties to the loan agreement. We recognizes that this is a shocking and unethical drop.


This is to inform you that temitope victor obembe Phone: 08165032655 / 08147638922 is an INCONSIDERATE PERSON,THIS PERSON has PROVEN to be a CRUEL/HARD HEARTED DEBTOR, additionally we DISCOVERED that this PERSON IS A PERPECTUAL/UNREMORSEFUL DEBTOR known ALL OVER THE FINTECH COMPANY IN NIGE This person has CURRENTLY REFUSED TO REPAY THE COMPANY’S MONEY (NC) and has refused to answer our phone calls. Please contact us as soon as possible if you have any information about this person; otherwise, the company will be FORCED to take LEGAL ACTION to RECOVER THIS FUND. Kindly be informed that this person provided us with all of your information, stating that YOU BOTH AGREE to COLLECT this fund from US… If you are unaware of this fund, you should contact the individual to get your information removed from the APP RIGHT NOW, because the person’s DETAILS, along with yours, will be PUBLISHED in a DRASTIC MANNER SHORTLY. NC


This is the Google Play Store link for 9Credit. This app should be avoided by Nigerian customers and those in need of a quick loan.

8. Sokoloan Loan App

Sokoloan is another another phony and dangerous lending app in Nigeria. The scam loan app’s offenses are listed below.

As opposed to the 91 to 360 days shown in the Google Play store, give loans for 7 days.

It does not provide loans up to $300,000 as claimed.

Does not disclose its true costs in the sense that it advertises the amount of loan to be supplied but actually gives significantly less.

7 days loan, like others, begins counting the moment money is deposited into your account, and what you see on your dashboard right now is 6 days remaining. It’s never seven days.

If you do not pay on time, their staff will harass you, threaten you, and send messages to individuals on your contact list that you should not be trusted and that you should pay back your loan.

9. Palmcash Loan App

See what a top lawyer has to say about Palmcash and other similar phony lending apps that are defrauding Nigerians in the video below.

“Many of these soft and quick lending firms are mainly unlawful in their existence and operations. Their interest rates, for the most part, are prohibited under the Money Lenders Act.

Failure to pay a debt is a contractual default that can be remedied by taking legal action for recovery and damages, but they use shady tactics like extortion and libel to get their money back.

They are all illegal, but the owners of these rapid lending organizations are frequently unknown or “miragy.” And the victims are usually too ashamed to file a lawsuit against them.” — Andy Akporugo Jr, Attorney at Law

Palmcash is a scam that violates Nigerian law. There is no face to the loan platform, no physical address, and no customer service employees to deal with. By boycotting their service, you will be doing yourself a favor. As a result, it has been added to our list of blacklisted loan apps in Nigeria.

10. Ease Cash Loan App

Ease Cash is another of Nigeria’s many phony loan apps. It’s the new moniker for EasyMoni, the rogue digital lending software that’s been banned and blacklisted, and it’s now fully hosted and registered on the world’s largest internet network, Google! Be Wary of Borrowers!


This is the Google Play Store page for the Ease Cash digital lending app, which is the new loan app that replaces EasyMoni.

EasyMoni, a rogue digital lending app that was prohibited and blacklisted by Google a few weeks ago, has changed its identity to Ease Cash in order to elude capture and continue stealing from unsuspecting Nigerian borrowers. On the Google Play Store, the digital lending app is now fully re-registered as Ease Cash.

EasyMoni has a bad reputation for intimidating and shaming its consumers when they default on a loan or have a disagreement. For a long time, the digital lending service has been accused of terrorizing and blackmailing Nigerian borrowers, as well as violating user data privacy. It has now resurfaced as Ease Cash on the massive tech network.

We is issuing this warning to borrowers and customers to be wary of this infamous loan app in order to avoid the sad stories of public embarrassment for which the EasyMoni is known.

In previous stories, we discovered that the EasyMoni digital lending app, now known as Ease Cash, is owned and operated by loan sharks from China and Hong Kong. It has neither an office nor a telephone in Nigeria, but it has taken to mailing threats to any customer who dares to incur its wrath by defaulting on high-interest loans with unfavorable terms.

11. ForNaira Loan App

The ForNaira Loan App is a mobile application that allows you to borrow money in Nigeria

Listen to what a consumer says about ForNaira, one of Nigeria’s many phony and blacklisted lending apps.

ForNaira is the worst app for getting a quick online loan…

Despite the fact that I was only one day late, their representative sent a message to all of my contacts stating that it had been over two months and that I had failed to pick up calls or respond to messages. Meanwhile, the lady in question sent me a message at 5:45 a.m., and I replied that I would pay by 4 p.m. By 9 a.m., she had begun sending messages to my contacts…I will not pay another dollar for what she has done. You can’t call me a liar and expect me to pay you, because I was going to pay you for the missed payment anyhow. I’ve got proof.

Thelma Albert: 7th of September, 2021

The number of urgent loan applications advertising their services to Nigerians is currently incalculable, which has resulted in the bulk of these false apps engaging in various fraudulent tactics.

Some companies aren’t even in the lending business; all they do is steal from their consumers. Rapid Naira and Cash Club, among others, are examples of bogus loan apps.

Initially, the Google Play Store carried the ForNaira rapid loan app, but it was permanently prohibited and blacklisted once the major network found it was a false and fraud.

Features of ForNaira Loan App

The following are the features that the ForNaira app claims to have:

– Take out a loan of up to $300,000

– Loans are available quickly and easily, with no hidden fees.

– As soon as the loan is approved, the account is credited.

– There is no requirement for collateral or a guarantor.

– Our Loan App is incredibly safe and dependable.

– Credit scoring is run by artificial intelligence, resulting in quick loan choices!

– We are accessible to assist you 24 hours a day, 7 days a week.

The Bad Side of ForNaira Loan App

On the other hand, the ForNaira app does the following:

As opposed to the 91 to 360 days shown in the Google Play store, give loans for 7 days.

Does not provide loans in excess of $300,000

Does not disclose its true costs in the sense that it advertises the amount of loan to be supplied but actually gives significantly less.

They do not require collateral, but they do require guarantors.

7 days loan, like others, begins counting the moment money is deposited into your account, and what you see on your dashboard right now is 6 days remaining. It’s never seven days.

If you do not pay on time, their staff will harass you, threaten you, and send messages to individuals on your contact list that you should not be trusted and that you should pay back your loan.

12. GotCash

GotCash is number 12 on the list.

GotCash is one of Nigeria’s blacklisted loan apps. We found out about it quickly and encouraged Nigerians to stay away from the fake loan app.

We wrote an essay in early November 2021 detailing how pirate loan apps such as PalmCash and Gotocash are defaming Nigerian consumers and why Google should blacklist and remove them from its Play Store.

We is Nigeria’s first and only platform for evaluating and reviewing loan apps and digital lending firms and organizations.

We’ve been at the forefront of a movement in Nigeria to eliminate rogue and fraudulent phony lending apps, many of which defame and slander their consumers.

Some of these apps are based in China or Hong Kong and are operated from there. Some of the people in charge in Nigeria are anonymous, with no office or customer service phone number.

We have banned those we have evidence of infringing on and breaching Nigerians’ data rights, and we have recommended customers across the country to boycott such services. Please stay away from Gotcash, as it is a phony loan app.

13. NCash Loan App

NCash is another another phony lending app that is still available in the Google Play Store at the time of writing. The loan platform is not real and was created to defraud Nigerians. When it believes you owe them money, it sends threats and terrible messages to you and your contacts, insulting you with every curse word available.

We’re still puzzled as to why Google permits scam and fraudulent lending applications like NCash, Sokoloan, PalmCash, 9credit, Cash Wallet, and others to be featured on their Play Store despite multiple violations of their operational and data regulations.

These loan apps are designed to defraud naïve Nigerians by requiring deposits prior to loan approval, extracting upfront service fees from their debit cards, charging interest rates as high as 100%, and frequently requesting return within seven days. All of them should be boycotted by Nigerians.

14. GoToCash Loan App

On November 28th, 2021, Google removed GotoCash and PalmCash, two rogue and false and blacklisted lending apps in Nigeria, from its Play Store due to repeated violations of its policy on consumer data protection.

BorrowNow and LendCash, two additional phony lending applications we previously mentioned, were taken down around the same time for the same reason: violating customers’ data privacy and sending libelous and threatening messages to their customers, families, and contact lists.

Nigerians should shun these phony loan apps like the plague. Even their interest rates are exorbitant, and they levy illegal service costs.

15. Fast Money Loan App

Fast Money is just another poor loan app that should be removed from our list of potential borrowing applications. Regrettably, it is still available on the Google Play Store.

The Nigerian government has finalized preparations to enforce regulatory rules and prosecute fraudulent loan apps and lending platforms like Fast Money, NowCash, Sokoloan, 9credit, LendCash, and others that send threatening and blackmailing messages to their consumers and their contact lists.

Nigerians and loan consumers should stay away from these apps at all costs.

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Ekemini Ekpo

Loan money apps is a platform/blog that seeks to inform and educate people on various day-to-day technological activities. Vist our Quora Space to learn more

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