In this article, I will be reviewing the full list of fake loan apps in Nigeria in 2023 including illegal loan companies that are terrorising borrowers and sending shame and defamatory messages to them and others in their contact list. Please note that some of these scam apps have been banned from Google Play Store and some others are still hosted on the platform. Most of these fake loan apps in Nigeria have tenure ranging from 7- 14 days, this is in breach of Google Policy on loan apps hosted on its Play Store and contravenes local laws in Nigeria.
All Nigerians and indeed all consumers must ensure to avoid any blacklisted loan app you see on this list by all means. Their main aim is to threaten and embarrass you with shame and blackmailing messages and invade your privacy and your contact list, spilling hatred to your family members and friends to force you to pay their outstanding loan. My advise is that you only patronize legit loan apps which will protect your privacy and give you instant secured loans without collateral, documentation or paper work.
Another name for fake loan apps is loan sharks. A loan shark is a loan app, digital platform, online or offline lender which offers credit loans at extremely high interest rates, has strict terms of collection upon failure, including sending threatening, shaming and defamatory messages to you and your phone contact list and generally operates outside the law. So in essence loan sharks operate illegally and are thus usually referred to as illegal loan apps and platforms.
List Of Fake Loan Apps In Nigeria in 2023 that all borrowers must be aware of and abstain from.
You may be asking: What is the list of fake loan apps in Nigeria and other illegal loan companies that all loan app borrowers must not patronize or download their application?
The most dangerous list of fake loan apps and lending companies in Nigeria in 2023 include Cash Mall, CashLion, FastMoney, LendCash, BorrowNow, LCredit, NairaPlus, 9ja Cash, Cash Wallet, 9Credit, Sokoloan, Palmcash, Ease Cash, ForNaira, KashKash, Rapid Naira, EasyMoni, among others. Many have been scammed and defrauded, and their bank accounts illegally debited by these fraudulent digital lenders. Please do not patronize any app found in the list of these illegal loan companies.
1. Cash Mall App
Cash Mall is one of the most terrible platforms on the list of fake loan apps in Nigeria in 2023. Though it claims to be a professional loan app where customers can access loan anytime anywhere, our findings reveal this claim is false. Cash Mall sends shame messages to its customers and embarrass their contact list. If you ever default a day, their strict collection method will expose your data on social media and they would send shame messages to all your contact list. Cash Mall gives loan on 7 days tenure which is against Google Policy for loan apps hosted on its Play Store. It claims its maximum (APR) is 36%. This is false. It charges way higher.
2. CashLion App
CashLion is another notorious lending platform on the list of fake loan apps in Nigeria. All its claims that you can apply for instant cash online up to N50,000 from its platform and get the loan disbursed into your bank account immediately with no hidden charges are false and fraudulent. CashLion never gives loan to anyone, and when it does, it is only for 7 days tenure and after that, it will start to threaten you and be sending shame messages to your friends and family members on your contact list.
3. FastMoney App
FastMoney is a scam lender that has actually been banned by Google and its operation shut down by the Nigerian government. The online lender, a notable one on the list of fake loan apps in Nigeria has been scamming Nigerians with a lot of dubious charges and raining threats and shame on borrowers and their family members even for a day’s default. Regulatory authorities are prosecuting FastMoney and many other fake loan companies in Nigeria such as NowCash, Sokoloan, 9credit, LendCash that are breaching the data privacy of their customers by sending threatening and blackmailing messages to them.
4. LendCash App
LendCash is another platform that has been marked down on the list of fake loan apps in Nigeria. Fortunately it has been banned by Google for serial violation of its policy rules and are been traced by Nigerian government for prosecution. Many borrowers have been battered and scammed by this scam loan app due to its unethical and unacceptable lending practices.
5. BorrowNow App
BorrowNow app has since been banned by Google Play Store after our initial damning report against the notorious online lender. QUICK LOAN ARENA reported and blacklisted BorrowNow on the list of fake loan apps in Nigeria. The platform has excessively high interest rates and do not comply with Nigerian local lending laws and flouts Google policies on loan tenure. BorrowNow loan app is fond of sending threatening and defamatory messages to their customers and borrowers.
6. LCredit App
7. NairaPlus App
8. 9ja Cash App
9ja Cash, the 8th online lender on the list of fake loan apps in Nigeria in 2023 is owned and managed by the scam Sokoloan lending app, whose operations has been shut down in Nigeria along with all its subsidiaries. 9ja cash manner of operation is to threaten customers with defamatory messages including the people in your contact list.
9. Cash Wallet App
Cash Wallet is yet another platform categorised under fake loan apps list in Nigeria and operates an established scam platform that deducts ‘down payment’ from your debit card. The lending platform claims to be a personal loan app in Nigeria where you can get quick loans using your mobile phone anywhere, anytime. However from customer feedback, this is not true.
10. GGMoney App
GGMoney app has been reported on several occasions for numerous unethical practices against borrowers and is thus one of the notorious platforms on the list of fake loan apps in Nigeria. The company uses untrained staffs that send threats to its customers and very high and astronomical interest rate.
GGMoney loan app has been banned by Google Play Store and shutdwon by Nigerian financial authoritiesb for its fraudulent lending activities and illegally debiting customers debit card. The app is also guilty of abusing the data privacy rights of its customers.
11. 9Credit App
9Credit loan app is known for its unethical and untowards lending practices. The app charges customers dubiously high interest rate. It gives out loans for only 7 days instead of a minimum of 60 days as stipulated in Google policy. Also 9Credit is fond of defaming and threatning its customers and their contact list..
12. Sokoloan App
Sokoloan has been banned and shut out from Google Play Store. The app, one of the most dangerous fake loan apps in Nigeria, has contravened the following policies of Google Play Store.
- Give loans for 7 days as against the 91 to 360 days displayed in Google Play store
- Does not give loan up to #300,000 as it claim
- Does not declare its real charges in the sense that, they display amount of loan to be given and what they give actually is far lesser.
- Like others, 7 days loan starts counting the moment you receive money in your account and what you see on your dashboard immediately is 6 days remaining. Its never 7 days
- Failure to pay back as at when due will have their staffs harass you, threaten you and send messages to people on your contact list that you should not be trusted and be told to pay back your debt.
13. Palmcash App
Palmcash is fraudulent and contravenes Nigerian law. The loan platform is faceless, has no physical address and no customer service personnels you can speak to. Please do yourself justice by boycotting their service.
14. Ease Cash App
Ease Cash is the new name for the rogue digital lending app, EasyMoni which has been earlier banned being on the top list of fake loan apps in Nigeria. EasyMoni was banned by Google many months ago and in reappeared with a new name Ease Cash in order to escape and continue fleecing innocent Nigerian borrowers. EasyMoni got a terrible reputation for threatening and shaming its customers at any slight loan default or disagreement. The digital lending app is found of terrorising and blackmailing Nigerian borrowers for a long while and has been in violation of customer data privacy. It has now found its way back to the giant tech network as Ease Cash.
15. ForNaira App
Listen to what a customer has to say about ForNaira, the platform that falls under the list of fake loan apps in Nigeria.
ForNaira is one of the worst quick online loan companies in Nigeria. Just 1 day overdue and their agent sent a message to all my contacts that is was over 2 months and that I have refused to pick calls or reply to messages. Meanwhile the lady in question sent me message as at 5:45am and I replied that I will pay by 4pm, by 9am, she started sending messages to my contacts…for what she has done I will not pay a dime again. You can’t defame me and still want me to pay you after all I was still going to pay for the overdue. I have evidence. This testimony was made by a customer of this loan app.
16. GotCash App
GotCash is yet another scam loan app in Nigeria. We had published an article early in November, 2021 where we revealed how GotCash and other rogue loan apps are defaming Nigerian consumers and why Google should ban them and take them down from its Play Store. Some of these apps are owned and managed from China or Hong Kong. Some managed in Nigeria are faceless, without any office or customer service telephone number. Please avoid Gotcash, it’s a fake loan app.
17. NCash App
NCash lending app is not a legitimate platform but set up to scam Nigerians. It sends threat and horrible messages to you and your contacts whenever they believe you are owing them and insult you with every curse word possible. NCash was set up to swindle unsuspecting Nigerians, asking them to make deposits before loan approval, deducting upfront service fees from their debit cards, and they charge interest rate as much as 100%, many times request repayment within 7 days.
18. GoToCash App
Google removed GotoCash and PalmCash, twin rogue app from its Play Store, on November 28th, 2021 over serial violations of its policy and customer data privacy breach. We have categorized them under the list of fake loan apps in Nigeria in order to warn consumers.
19. GoCash App
GoCash is another fake lending platform known for its very unfriendly customer relations and breach of customer data. The loan app blackmails and send threat messages to its borrowers even before a loan is due. This lending app deducts illegal fees from your ATM card and grant loan just for 7 days.
20. KashKash App
KashKash is a fake loan app in Nigeria that claims to offer flexible online loan products for consumers nationwide. However its claims are false and dubious. They do not give out loans up to N200,000 ever, and all their loans are for 7 days tenure with very high interest rate as against their promise of low interest. KashKash will send you shame messages if you default on their meagre loan. The lending platform is a loan shark and one of those whose operations were recently shut down.
Other fake loan apps and illegal online loan companies and applications in Nigeria include the following:
Rapid Naira App
Speedy Choice App
Lucky Loan App
Star Loan App
Zuma Cash App
How Do I Identify the list of Fake Loan Apps in Nigeria including fake lending companies?
We have identified 15 easy ways to point out a fake loan app in case you come across one. They include:
- Fake loan apps in Nigeria access and compromise contacts’ numbers and photos stored in their mobile phone and use them as a form of threat and harassment in case of customer default.
- Constantly pressurizing customers to collect loans and/or to repay loans even before repayment due date. And issuing threats along. In some case they transfer money to you unsolicited, if you ever borrowed money from them and force repayment at heavy interest.
- Invading customers’ data privacy and sending defamatory and threatening messages to them and their contact list
- Extremely high interest rate and penalties.
- Deduction of processing and/or security deposit before loan processing
- Interest deducted before providing the loan.
- Constant harassment and threats on customers
- Online Harassment of customers and borrowers.
- Harsh and unethical means of loan recovery.
- Use of rude and derogatory statement by loan app staff on customers.
- Gives out loan to customers for 7 days tenure instead of minimum of 60 days stipulated by law
- Creation of sense of urgency and pressurizes into acting immediately, sometimes luring you to collect loans against your wish.
- Hidden or undisclosed charges/ fee amounts.
- Unsecured websites and in many cases, fake loan apps in Nigeria have no website at all, no physical office address.
- Most times, they have no social media platforms, no contact telephone numbers, no valid customer service support or email to contact them with.
The most dangerous list of fake loan apps in Nigeria including fake loan companies include but not limited to: Cash Mall, CashLion, FastMoney, LendCash, BorrowNow, LCredit, NairaPlus, 9ja Cash, Cash Wallet, 9Credit, Sokoloan, Palmcash, Ease Cash, ForNaira, KashKash, Rapid Naira, EasyMoni, among others. As a borrower, you do not have to be scammed, threatened or defamed anymore by these fake and illegal apps. Simply avoid these platforms and you would be safe in all your lending transactions.
Am also one of the victim of these loan shark until now I received threatening message from them. But I must commend you this piece of information.
big scammers these apps are
Pls, Sir how can repay cash mall, I’ve been trying the account sent to me it’s not responding and I don’t want default the payment today.
This is what i have been going through…I collected some loans to do little business ..but it did not work out as planned…the cures, I mean insults threat’s… embarrassing messages…calls…even calling my family members and business partners…. saying things that are not true…. sending life threating message…. sincerely this is the best tin that has happened to us….this guy’s are all evil
That is what I am facing too,they won’t cool down until you pay,that is why after payment the way I do curse them is out of this world OK I took a loan from loan personal which I later paid back only for my dad to call me to tell me that someone from their company called them and said I was owing,when I heard this i was annoyed.
Please am in a mess with palmcash,Lcredit, Lucky loan and rapid naira. They have been tormenting my contacts with defamatory and shameful messages about me such that I can not coexist with my colleagues any more.
How can I tackle this mess
Good morning..Iam also facing it too as well,most especially frm aimloan and cashfarm…I took a loan frm them to feed my kids and have been facing financial challenges.
They send threat messages and threatening to send my picture and details to my contacts….
From tonight, our new update will add aimloan and cashfarm to the list of fake loan apps for sending defamatory messages to customers
GOOD DAY SIR.URGENT ATTENTION SIR.
KINDLY FORWORD THIS NUMBER TO DSS/ICPC/FCCPC/NITDA
07042419220,07064400275,08124507023,08161439810,09120014972 THIS ARE CYCLE CASH LOAN AND CAREFINANCE THIS PEOPLE ARE THE ONES WORKING FOR THE FAKE ONLINE LOAN APP.THEY ARE THE ONES THREATEN PEOPLE SENDING DEATH MESSENGES AND CALLING PEOPLES CONTACTS.THIS PEOPLE ARE BEEN PAID TO BY CHINESE TO THREATEN THE LIFE OF PEOPLE THAT COLLECT LOAN FROM THEM.
Am a victim of the fraudster s and I am totally embarrassed because the terms and condition for payment has not been abused since I have to pay if I deflaut because charges will naturally follow but threats to my pension, salary and other funds coming in has been very scaing to me because I supplied them my bvn, account details and other informations. Please I need help to be out of this mess. Stephen K. Ngopol
Oxloan is also a big scam and deadly they are not helping matters
Please try an add gomoni an palmcredit ..
I collected loan from them,they didn’t allow me transfer it to my account..the money was there till after just 7 days they took it back an expecting me to pay them with interest.
I told them to do their worst because I’m not paying one Kobo..
There have been going about calling all my contact list n messaging them
Updated as a fake loan for sending curse messages to customers
Pls, add Kashpal, Soko loan have changed their name to Star loan, Hcash, zumacash, snappy credit, moneyhub, care finance, vkash, ABC loan, Cash ace, nkash, ncredit, xcash these guys call your contacts to even threaten them, that they are aiding you to commit crime. funny thing is one person can own about 10 loan apps! their mode of operation is the same.
I also have issue with cashfarm ,I have paid my money but they are still threaten me that the money aren’t been reverse pls help us to report the app
am also facing this challenges currently, please help us to report this app so that they can be close down and stop scamming people. You give loans to consumers, you will give them high interest and expect them to pay in seven days. Please report them quick and close them down ,they are defrauding their customers by all means. Thank you.
Cash Here Is another fraudulent lending app
Another deadly loan app is lucky loan/ Umi cash. From the day of the due date they started sending defaming messages. The painful part is that the loan was not yet overdue. They are already sending messages to contacts that I am a fraudster with my pictures. How about the threats and curses. God !! Lucky loan/ Umi cash are killers. Even when the loan is not overdue
You did not add XCredit. They are as terrible as LCredit. Again, what is the CBN and Federal Government doing about this menace? Is there no way to sue these persons? Are they truly faceless? How then are they working with Nigerian commercial banks?
They have now been added
What can we do when they start to threaten us?
Add DELOAN also. They have been sending my pictures and useless messages about me
HI Femi Adeoya the way the online app are embarrassing people are too much and the federal government need to urgently stop them.I know of a guy dat almost kill himself all because he cud not pay the sum of 7k on time to CYCLE CASH LOAN this are the number that keep sending messages or calling me telling me one mr wale who i did not even know borrow money from there company.please the numbers should be forworded to DSS/ICPC/FCCPC/NITDA-07042419220,07064400275,08124507023,08161439810,09120014972,and neccessary action should be taken cos they are really using the advantage of the poor people in the society and is affecting the health of people
This is a great publish me
And they are really true
Some charges you the rate of other app 22 days as Thiers 7 days
Of a truth Lcredit loan is fraudulent
I actually applied for loan but was not credited that time, then days later I was told to pay back which made me to quickly check my balance and discovered it was paid so I don’t use the money but I was threatened to pay over due .
Thank you for exposing them you are doing a great job
Ox loan tooo. They are fraudsters they would be calling you like you are owning them. +234 907 350 7290
That’s their account officer’s number I applied for a loan with them they refused to clear me when I paid bk my loan. Till today am yet to be cleared it’s going to 2weeks and they keep increasing it every day
Please, have anyone heard of Monzo loan in Nigeria. I know Monzo to be existing in the US.
They do request that one pay 5% of the requested loan amount before the loan will be disbursed (but with the initial 5% that must have been paid).
Have anyone heard about them before now.
Be very careful with that Monzo Loan App. Monzo Digital Banking & Loans only exists in the UK and already been extended to the US. The Official “Monzo Digital Banking App” is on the Google PlayStore, I don’t really know maybe they’re also functioning in Africa Countries already now. But you see that “Monzo Loan App” is a big scam, cos if you deposit the 5% like this, that’s the end, just forget the money and the profile from their App.
Fair money loans is also another fake loan app with high interest rate without physical address, I collected 450k after doing business with them for long they gave me 310k interest for loan of 450k for 6 month and I collected 550k from sterling bank and I was given interest 100k for 12 months, I have requested for their physical address if not I will not pay that loan, which they don’t have physical address or phone number to reach them.
Those loan app are nothing but rubbish I regret ever collecting loan from them especially Ucredit nd 9ja cash
Ok Naira and Super Credit or anything Naira is the worst of them all. You won’t need a loan but would be credited #10,000 for one week without your consent and made to pay #7,000 interest and failure to pay will attract #2,000 additional interest daily and they forcefully remove their cash from your account any time they wish with the aid of their hackers. Fair money is the best of all loan apps and the most flexible. I was given 1 million by them to pay back in two years with flexible monthly pay back for that two years. When you have their cash before the two years, you simply sent a mail to them to review the interest on the time spent and would be discounted based on the month used. Thanks you Femi Adeoya for this wider awareness. People are dying in silence cos of these loan sharks
Ningocash or hi cash are the worst,I gave them 8k from 10k I suppose give them, promised to pay the remaining days later,to my surprise,they have started to send fraudulent messages to my contacts
Fairmoney is among them
I think Google PlayStore is the major problem. They should just remove all these damn ads & apps from their platforms. Imagine, u can’t even browse in peace, any small thing like this na loan ads go show up next… Omoh! The thing dey always tire me, millions of illegal loan apps on Google PlayStore & na Nigerians dey always suffer am most!
FairMoney is not illegal tho’ as well as Carbon(formerly PayLater) and also Branch. Just that their interest rates are too much at times!
These 3 Digital Banking & Loan Apps I mentioned here will never send you threatening messages and distressing calls, they don’t even burden you will additional interests on late repayments. They will communicate with you in a very friendly manner and send you just reminder messages of your overdue loan seldomly.
Monicredit,creditup,cashrain,cashC, please add them to your list,I paid them and they still send messages to my contact,published my name.
All fake loan apps should be removed from play store for the sake of people who aren’t aware,but might eventually fall into the hands of this prey.
We credit another thief,after paying all their money,they ask for overdue charges,please add them
All this loans app should be remove from play store with immediate effect. What is the work of CBN. CBN is not doing their work. Secondly the DSS and EFCC suppose to go after all this illegal app because they have defrauded many people.
Cash bus sends defamatory msgs and calls to my contact even when my loan is not due, please add Cocoloan, money bag, Cashpal, future cash, unicredit, these loan app made me enter into debt I didn’t plan to all because I was trying to pay back and not get embarrassed I ended up owning them and just for a day overdue they sent my picture and criminal msgs to my contact
Please Add Anyloan App to it. They’re are the same people running Aimloan and angel loan
These illegal apps should be removed from play store
Good Morning… Please I need your help on this…..I borrowed money from Rapidnaira then I deleted the app because of no enough space on my phone…now my due day to repay is today…I have tried to download the app from play store but is not downloading….I just saw this message about to rapidnaira been a fake loan app..
Please am confuse..please can someone tell me how I can repay them so that they don’t send embarrassing messages to my contacts and also I don’t want them to block my bvn
A lot of them are hiding under NairaLoan to operate since they are not on Google Store. They include PayDay, LCredit, NairaPay, and many others. Also, NiceNaira, Ok Cash, SunnyCash, etc. Many of them are still sending me messages begging me to collect loans (30k, 80k, etc) just to lure me. I know how to deal with them. I have been daring some of them that I had encountered, to contact my contacts or carry out their threats but it seems they are afraid. Loan of 7 days with 50%+ interest rates and service charges. These people are inhumane, I swear!
If the FGN cannot have a regulatory body to regulate these loan apps, it is therefore incumbent on the Government to proscribe all of them. Only very few of them like MIGO is a responsible organization with human face. Tnx
WECREDIT is the worst. They go as far as cursing one’s children and family all in attempts to recover loan(s), even if it is a day default.
Please, have anyone heard of Monzo loan in Nigeria. I know Monzo to be existing in the US.
They do request that one pay 5% of the requested loan amount before the loan will be disbursed (but with the initial 5% that must have been paid).
Have anyone heard about them before now.
Please someone should help me because they have been sending me text messages to take the loan.
Rapid naria also they are fake and scams they will credit you without applying for loan.
They credited me 45,430 to pay 68,740 without applying for the loan but was surprised me the most was that have deleted the app on my phone a long time ago
All of them are theives same as caycredit loan i paid for my loan show them evidence of payment even went to bank because of it bank was telling me that the money as entered into their account that they should print their statements of acct still yet they are still sending their stupid messages to me and have warned them if they try it again I will tarnish their company’s name and they did it again their address is not clear there are not on Instagram different people messaging and also have extra names like lion cash,yo credit before with them pls dont have anything to do with them they are fraud
Monicredit,cashC,creditup,wecredit,cashrain,are worst,add them to ur list
What can we do if we are threatened, they have threatened to do their worst today, I’m in a big mess, I need help urgently
There are more such loan to be added such as Xcrosscash, True Naira, Plenty Cash, and New Credit. they are deadly app, as mentioned above there good one among them that respect and message their customer with dignity that one can easily transact business with, example of the good one are, Carbon, Branch, Fair Money etc. but they too should review their interest rate at times it is at alarming rate.
Thank you for this post. wish i saw it before the mess these apps are trying to put me in. They have insulted and used derogatory words on my family and friends. In fact this is few days before the expiration they will already start sending threats. So i started to become defensive. I will reply them that i will send their threat chats to NITDA and FCCPC and will make sure the agents sending threats are tracked and will be responsible for the payment as i will not answer them again. my Truecaller app blocks their calls and messages. Even when we try to pay within the period of 7 days, it becomes a problem as they will call you a million times and insult immediately you pick a call. I will share the chats with threats here when need arises but please add Mintbag, iCredit, iMoney, Cashbus, cashkey, caycredit, crimson cash, easy naira, hellocash, mama credit, money tree, nice naira, Nkash, nownowmoney, quick naira, speed loan, wecash, wecredit, 9money and xcash to your review list and blacklist. If you need any evidence on any of them, please let me know. It will be good to also tag NITDA and FCCPC here so they can read the experience of Nigerians. Thank you.
I am also a victim of this. In fact I am still into it. I actually downloaded these loam apps as it was introduced to me on WhatsApp. I got to know that I will be given #6,200 to repay above #10,000. I never applied because I felt the interest were too much for a 7days loan. Only for me to receive alert from the three different apps of #6,200 each. The funniest is that those numbers that introduced the app to me via WhatsApp are no more functioning and I am been called to repay. I didn’t apply for these loans but the money were disbursed because my account number has been submitted before they brought the amount they can loan. Please, what do I do?
The names of the loan apps are: “Camel loan app”, ” Hen loan app” and “Loan me app.”
They are really threatening.
Omo na them sabi, everyone know say country hard, but for these loaners they’re demons. God forbid bad thing. Like this eh, I no dey pay shishii 😒😏.them think say them dey wise. Rubbish people😂😋.if you are still worried about them or what they will do to you if you’re owing them, sorry oooo 😂🤣na u sabi, that’s to your own detriment. Do not mind whatever messages or threats they send to you on daily basis. Most of those loaners are fast killers, crooks, life hunters and real time scammers. Like this eh……. Am owing about 8 of them, but I no dey pay shishii 😒 it’s over 6 months now since overdue and none of them have been able to call or send messages to my contacts and post my pictures anywhere. They are even tired of calling me😌😏.Dem dey crase. If you wish to know how to deny them access and how to clear your contacts and data from their server send me a DM on WhatsApp @09151977310. But if you’re one of their agents and you near my DM, I pray make thunder no fire you and your smartphone shaa 😏. Nonsense people.
LCREDIT o, they are after people’s lives.