15 Bad Loan Apps In Nigeria To Avoid Like A Plague
Loan Apps

15 Bad Loan Apps In Nigeria To Avoid Like A Plague

Want to know the top Bad Loan Apps In Nigeria To Avoid Like A Plague? 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.

15 Bad Loan Apps In Nigeria To Avoid Like A Plague

Today, we’re focusing our attention on Nigerian scam and bad loan applications that have been torturing and inflicting misery on innocent and naive users and borrowers. These lending applications aren’t designed to give people loans; rather, they’re designed to collect illegal charges from them and inflict horrific suffering on them in the process.

In nature, the apps are predatory and deceptive. They are usually faceless and do not have a website or an actual business address. According to our findings, the sole purpose of these terrible loan apps is to defraud unsuspecting users who are unfortunate enough to use their lending apps for a loan.

These sham lending apps either demand an illegal security deposit from unwitting users or ask them to pay processing fees for loans that will never be granted. Others have a propensity of threatening and blackmailing their consumers at every opportunity, as well as insulting and disparaging them. As a result, we’ve put the lending sites on the blacklist and warned Nigerians to stay away from them like the plague.

We’ve decided to publish a list of the top bad loan apps in Nigeria that are swindling and defrauding Nigerians, as well as operating unlawfully and in violation of our local lending regulations and Google’s rules for loan applications housed on their network.

How To Identify Bad Loan Apps In Nigeria

In Nigeria, how can you tell whether a loan application is bad?

The majority of these bad loan applications in Nigeria have a duration of 7 to 14 days, which is against Google’s policy on lending apps hosted on its Play Store and against Nigerian legislation. Take a look at what Google has to say about loan terms:

We don’t allow apps that promote personal loans that need full repayment within 60 days of the loan’s issuance (we call these “short-term personal loans”).

Others have turned their platforms into loan sharks, terrorizing victims with exorbitant interest rates, sometimes as high as 75% for a 7-day period, and then bothering the users and their contacts with hateful and defamatory messages even after the loan has expired. This is unethical behavior.

Our list of bad loan apps in Nigeria includes lending platforms that require clients to provide their ATM card information before they can receive loans.

And many people have their debit cards deducted for “security” or “administrative” fees. Most of the time, they are never given the necessary loans.

Please do not give your ATM or debit card information to any loan app in Nigeria. As a result, you’ll be able to skip heartfelt stories.

Many of these bad loan apps in Nigeria are in violation of Google’s data privacy guidelines for users and consumers. 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).

The 15 Bad Loan Apps In Nigeria To Avoid Like A Plague

In Nigeria, there are 15 bad loan apps to avoid are below listed

Many of these fraudulent lending applications in Nigeria have no physical business address, no website, and others don’t even have an online presence, but still managed to find their way into Google Play Store and start defrauding poor Nigerians out 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 bogus and bad loan apps in Nigeria are listed below. Borrowers and clients are advised to avoid them like the plague. Many 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 online quick 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 Info

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 applications to avoid. 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. This phony loan app should be avoided by Nigerian consumers and borrowers.

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 Info

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.

QUICK Lending ARENA 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 9ja cash lending app is ranked number four on our list of bogus and dangerous loan applications to avoid in Nigeria. The dangerous and outlawed Sokoloan lending app owns and manages the lending platform.

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.


This is a snapshot of a defamatory message sent by 9ja Cash (owned by Sokoloan) to one of their customers’ contact list. 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 phony lending app should be avoided by Nigerian customers and those in need of a quick loan.

This is the fifth app on our list of bad 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 are at the vanguard of a campaign in Nigeria to expose loan sharks and bad loan applications for their immoral and unethical methods toward 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 consumers and those in need of a quick loan.

7. 9Credit Loan App Review

9Credit is the seventh app on our list of bad loan apps 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 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 phony loan app should not be used by Nigerians.

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 Loan App is number ten.

Ease Cash is another of Nigeria’s many phony and terrible 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 the blacklisted lender EasyMoni.

EasyMoni, the rogue digital lending app that was prohibited and blacklisted by Google just a few weeks ago, has changed its identity to Ease Cash in order to elude detection and continue to defraud innocent 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 has to say about ForNaira, one of Nigeria’s many phony 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 overdue payment anyway. I’ve got proof.

Thelma Albert: 7th of September, 2021

The number of urgent loan apps advertising their services to Nigerians is currently uncountable, which has resulted in the majority of these fake apps engaging in various fraudulent practices. 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 available to assist you 24 hours a day, 7 days a week.

What are the Disadvantages of ForNaira Loan App?

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

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

3. Does not provide loans in excess of $300,000

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

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

6. 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.

7. 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 Loan App

GotCash is number 12 on the list.

GotCash is one of Nigeria’s bad 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 one of Nigeria’s bad loan apps, and all Nigerians who wish peace should ban and avoid it. 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.

What is the Federal Government doing about bad loan apps in Nigeria?

Many poor loan applications, fraudulent digital lending organizations, and loan sharks in Nigeria have been involved in unsavoury and unethical actions at the cost of borrowers, according to our information.

Some of these terrible loan applications have a reputation of bothering their consumers whenever there is a loan payback default, even before the loan payment is due.

These platforms go so far as to send identical communications to customers’ families and contact lists who were never parties or guarantors to such loan agreements, labeling them as “criminals on the run with company money,” in order to shame and compel repayment through illegal means.

This is also unacceptably bad.

In order to combat the alarming rates of data privacy misuse by money loan companies, the National Information Technology Development Agency (NITDA) has formed a strategic relationship with the Federal Competition and Consumer Protection Commission (FCCPC).

The Commission is empowered by Section 17(a) of the FCCPA, 2019 to administer and enforce sections of every Nigerian law relating to competition and consumer protection.

As an agency dedicated to empowering Nigerians and making them active participants in the digital economy, NITDA is deeply concerned about the negative impact that money lending organizations’ illegal actions are having on families, friends, and society at large.

Some of the complainants had considered suicide, implying that the government should do more to safeguard Nigeria’s most vulnerable citizens.

The collaboration with the FCCPC would result in a more comprehensive and coordinated regulatory approach, which we believe will protect Nigerians from the illicit use of their personal data for money lending businesses.

That has been Top Bad Loan Apps In Nigeria To Avoid Like A Plague. If this article has been of help to you, why not share it with friends on social media through any of the sharing buttons below?


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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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