LCredit: How loan apps are spying your banking, sms and contact details

LCredit: How loan apps are spying your banking, sms and contact details

The proliferation of fake quick loan apps is fast endangering and threatening the financial and digital evolution which has in greater terms facilitated financial inclusiveness of many Nigerians who have hitherto been inaccessible to the traditional banking system, and except regulatory authorities check their operations, more crisis may be ahead, writes Femi Adeoya, Senior Research Consultant with QUICK LOAN ARENA.

On Thursday QUICK LOAN ARENA exclusively reported that LCredit, Rapid Transfer and some yet to be identified quick loan apps have been removed by Google from its Play Store for violating its operational policies.

Our investigation reveals that LCredit was blacklisting by Google and banned from its Play Store because the loan app was discovered by Play Protect, the security system on Google Play Store that scans apps hosted on its network, as involving in malicious and fraudulent activities.

Google discovered that LCredit app was trying to spy on phone contacts, recordings, Photos and other private content on the android devices of its users, contracy to Google laid down privacy policy.

LCredit loan app

Play Protect by Google had warned users yesterday: “This app (LCredit App) tries to spy on your personal data such as sms messages, photos, audio recording or call history.” It went further to warn users to immediately uninstall the blacklisted LCredit app from their phone, and that if they fail to do so, and open the app, they do so at their risk.

Some consumers who spoke with QUICK LOAN ARENA validated Google’s claim of LCredit and other loan apps spying illegally into their phones.

One of such is Folafaith on October 22, 2021 at 6:48 am told us: “Truly LCredit do spy on person account, phone storage, contacts, messages and start calling your contacts and message them on WhatsApp and through normal messaging. If you fail to repay just for a day, they will start calling all your contacts and start calling the person a fraudster.”

She continues: “This scam activity is not only peculiar with LCredit, there are still many of the loan apps  that does so, such as Sokoloan, Credit9ja, True Naira, Naira Plus, KasKash, Easycredit. Sokoloan for example will tell you to sell your property to repay them, even though you’re on sick bed it doesn’t concern them.”

Another user, Tunji Adeleke on October 22, 2021 at 7:04 am told us: “Most of these obviously fake quick loan apps spy on your private information. They also spy your SMS alert to know when you receive payment and other information. They will collect your phone contact list to which they begin to send threat messages to them and even call some of them.”

Yet another respondent, George on October 21, 2021 at 2:43 pm gives his own account:

“My name is George…I’m here to share my unpleasant experiences too with GoCash, 9ja Cash, Fast Money, Sokoloan, KashKash, Easy Credit, Okash, and other loan apps, and what they did to me and other people as well…I must say it is unfair to reach out to peoples contacts on their phone telling them all sort of lies just because a customer defaulted just for a day or two, tarnishing ones image because he or she defaulted…

I feel there are better ways of retrieving their money back from customers rather than threats, alot of people have been humiliated through this means and it’s not funny, they need to be stopped at all cost, when they did that to me, I told the agent that I won’t pay a dime until they undo the damage they did to me painting me as a criminal on the run.if what I’m reading is true God bless whoever has decided to put a stop to them.”

Another user of the app responded to QUICK LOAN ARENA in abewilderment. Vivian on October 21, 2021 at 2:21 pm says “I can’t find LCredit app on goggle again, what really happened? Bcoz I loaned from them.”

Obinna Michael on October 21 expressed his disappointment with the loan app. He adds to the query, “Money that has been paid with proof of transaction slips, LCredits loan app keep sending messages to contacts. If their systems are faulty they should fix it properly before coming into the business!”

Recall our earlier report yesterday that LCredit is a quick online loan app though hosted on Google Play Store with thousands of successful downloads but does not have an online presence in terms of website nor a single physical office. This was of course a red flag on the now blacklisted lending app.

Many of these loan apps do not have any physical office address, do not have a website, some don’t even have any online presence yet they found their way somehow into Google Play Store and get into scamming poor Nigerians of their hard earned money. Google should bring down and clampdown on more of these loan apps once they are discovered to be violating its set down policies.


We also want to point out that some of the apps on the Play Store are violating Google policy on lending and repayment and we call on the search giant to enforce its rules and call them to order. The plight of Nigerian consumers are at stake. Regulatory authorities have also been called upon by this platform to enforce local laws on these loan sharks.

We want readers and customers of the various quick loan apps to share their experiences and feedback with us below on the comment section so we can share with our numerous readers.



Register to become our business partner and enjoy our free advisory and consultancy services on getting a quick loan from our list of accredited lending partners and also guide on the process of loan application.

Disclaimer: Quick Loan Arena is not a loan agency and we do not give out loan to anybody. We however profile and review legitimate and reputable loan agencies and seeks to educate individuals, household and small businesses about loan opportunities to help them make informed decisions and establish their businesses.

Speak with any of our Quick Loan Consultants for more information! Call or Whatsapp +234 (0)803 385 7245.

Do remember to give us a feedback about your quick loan experience after the lending process is executed.

READ ALSO! Google removes LCredit, Rapid Naira, other predatory loan apps from its Play Store

READ ALSO! Got LCredit loan app on your Phone? Here’s why you should uninstall it immediately

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (, the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.


  1. Icoin has been doing such! Just few days of late payments they issued me a threats and start sending messages to all my contacts, over 300 of my contacts were sent SMS which I informed the guy to be patient that it’s two days to my Payday and as such if he go ahead with his decision to send sms to my contacts then I don’t have anything with them again. I have proof of the SMS sent. I think NITDA should find all this loan apps company and sanctioned all giving them a new process of giving out loans. If any default use logical approach to get your money back. My BVN is my collateral since that’s what the agreement states.

  2. People are ignorant of the existence of NITDA and even the oversight functions of the CBN in regulating the activities of these fintechs.

  3. This is very true of all of them.They have no right intruding into privacies of people.I think someone needs to sue them.How will you be calling or sending messages to people who never signed to be guarantors to any loan? Their high and ridiculous interest needs to be looked into by government which is why many fail to pay back the will you force longer months on people to get higher money from them without giving them opportunity to pick what they can manage.Horrible

  4. Aghachi Ezeali
    After calling your contacts, they’ll still expect you to pay them after the whole insults, blackmail and embarrassments!
    Am waiting for them to come and arrest me make we go end am for court, rubbish!

  5. Seriously
    All these loan apps intruding people’s privacy
    Such as cashlion,true naira,easy credit, nd so on just because of failure of not making payment under one day

    Better it deactivated on play store

    Tnk u so very much for looking into the matter

  6. 157241 165175Ive applied the valuable points from this page and I can certainly tell that it gives plenty of assistance with my present jobs. I would be very pleased to maintain getting back in this internet page. Thank you. 261

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  8. At present they are pestering and threatening to show my profile and details to my contacts. I wish I had a legal team backing. I wish I could involve NITDA!

  9. I am so pleased this is happening. LCredit especially have this method of threatening peoples live. These are some of the things I have experienced with them

    1) their interest rate is so high. Imagine borrowing #7k to return #12,500
    2) their customers service are the worse, no respect and they are heartless
    3) loan term rate is just 14days. Like how can you expect people to borrow money and return it within 13days. Coz your days start counting the day your loan is been disbursed.
    4) they can repeatedly even if you are in church
    5) they message and call your contacts telling them you are a fraud and that you are wanted. They even post your picture along with it and still want you to repay them even after the embarrassment.
    6) if you cancel the loan while try to apply, they will automatically send you the money and you won’t know how to reach them in order to repay them, until it’s almost time for repayment. And you are definitely going to add their interest
    7) if you fail to pay your money on time or even when you are paying it gradually as you see it, they won’t stop adding late fee every single day. And their late fee is #200 above. Just imagine!

    Please kindly ban them totally plus some other stupid loan apps. Coz this is total rubbish.

  10. Lcredit is. Worse, after a day due day, they started threatening me to post my pics and bvn to all my contacts that I refused to pay, d collector also said he will use my bvn to borrow money from 10 different loan app, I told dem to go ahead , after doing dat, shi shi I won’t pay
    They are so useless

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