Worst 20 Fake Loan Apps In Nigeria

Loan apps listed on the Google Play Store offering short-term credit are required by Google policy rules to give borrowers no fewer than 60 days from the date of issue to repay any loan. However most of the worst 20 fake loan apps in Nigeria under our radar today have tenure ranging from 7- 14 days. Hear what Google has to say on loan tenure:

“We only allow personal loan apps with full repayment required in greater than or equal to 60 days from the date the loan is issued… apps that fail to do so will be removed without further notice.

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Worst 20 Fake Loan Apps In Nigeria
Worst 20 Fake Loan Apps In Nigeria

Yet some others in our list of these worst 20 fake loan apps in Nigeria we have identified are contravening Google Play Store policy relating to terms of data collected by the lending platforms. This is what Google says about data collected by apps on its Play Store:

You must be transparent in how you handle user data (e.g. information collected from or about a user, including device information). That means disclosing your app’s access, collection, use and sharing of the data, and limiting the use of the data to the purposes disclosed. In addition, if your app handles personal and sensitive user data, please also refer to the additional requirements in the ‘personal and sensitive user data’ section below. These Google Play requirements are in addition to any requirements prescribed by applicable privacy and data protection laws (in your domiciles country).

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Additionally most of the worst 20 fake loan apps in Nigeria we have identified now charge illegal service fees or processing fees while feigning to have low interest. This is unethical and unacceptable and explain why these lending platforms are regarded as part of our worst 20 fake loan apps in Nigeria.

Basis For Classification Of Our Worst 20 Fake Loan Apps In Nigeria And How To Identify Them

This top list of worst 20 fake loan apps in Nigeria are either demanding for illegal security down payment from their potential customers or swindling them to pay processing fees for loan. Their method loan repayment is strict and violent, threatening and blackmailing customers at every given opportunity, insulting and using derogatory languages on them and their contact list including their family members.

The predatory nature of these fake loan apps in Nigeria is such that their only purpose is to scam poor and hapless borrowers who are unfortunate enough to request loan advances from them and inflict pain and agony on them.

Most of this worst 20 fake loan apps in Nigeria will demand that customers submit their ATM Card details to them before accessing loans. Please never do that, we advise Nigerians to flee and avoid at all cost any of the downlisted list which are our top 15 fake loan apps in Nigeria.

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Some others have turned their platforms into loan sharks terrorising Nigerians with extremely high interest rate sometimes as high as 50% for 7 days tenure and then later harassing the consumers and their contacts with malicious and defamatory words even when it’s still a day to the loan expiration. This is unethical.

There are several ways we have identified and classified our list of worst 20 fake loan apps in Nigeria. See the 10 Ways To identify them.

  1. Accessing the contact’s number and picture stored in mobile phone.
  2. Misuse of contact numbers and pictures saved in mobile.
  3. Invading customers’ data privacy and sending defamatory and threatening messages to them and their contact list
  4. Very high interest and penalties.
  5. Deduction of processing and/or security deposit before loan processing
  6. Interest deducted before providing the loan.
  7. Constant online and physica harassment and threats to customers
  8. Continuous harvesting and mining of customers contact numbers to blackmail them
  9. Harsh and unethical means of recovery.
  10. Use of rude and derogatory statement by loan app staff on customers

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We have also classified and identified 8 Warning Signs Common With These Worst 20 Fake Loan Apps In Nigeria

  1. No verification of previous repayment history
  2. Gives out loan to customers for 7 days tenure instead of minimum of 60 days by law
  3. Creation of sense of urgency and pressurizes into acting immediately
  4. Hidden or undisclosed charges/ fee amounts/security, processing deposit
  5. Unsecured websites and in many cases no website at all
  6. No physical address or office disclosed by lender
  7. Many of the worst 20 fake loan apps in Nigeria don’t have any online trace or social media pages
  8. Owners are mostly foreigners and loan sharks

5 Safety Measures Against These Fake Loan Apps In Nigeria

    1. Check for lenders contact information like phone number, email address and physical address.
    2. Verify the online reviews by customers given for the lender.
    3. Check the professional reviews on trust worthy lenders.
    4. Make sure the loan app has been properly licensed by the Central Bank of Nigeria (CBN)
    5. Review the app permissions regularly and give access permissions ONLY tor the purpose of the loan applied for.

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Our Top List Of Worst 20 Fake Loan Apps In Nigeria To Be Avoided Like a Plague

Many of these worst 20 fake loan apps in Nigeria 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 Apple Store and get into scamming poor Nigerians of their hard earned money.

The following form our list of worst 20 fake loan apps in Nigeria. We advise borrowers and customers to avoid them at all cost. Many have been scammed and defrauded, and their bank accounts illegally debited by these scandalous and fradulent digital lending apps.

    1. CashLion
    2. FastMoney
    3. LendCash
    4. BorrowNow
    5. LCredit
    6. 9Credit
    7. 9ja Cash
    8. Cash Wallet
    9. GGMoney
    10. Sokoloan
    11.  Palmcash
    12.  Ease Cash
    13.  ForNaira
    14.  GotCash
    15. NCash
    16. GoToCash
    17. NairaPlus
    18. GoCash
    19. FastMoney

1. CashLion

CashLion is the first on our list of worst 20 fake loan apps in Nigeria. The lending app claims you can apply for instant cash online from its platform and get your loan disbursed into your bank account immediately.

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It says its Online Loan App offers:

* Loan Amount: ₦ 2000 – ₦ 50,000
* No hidden charges;
* Loan Term: 91 – 365 days
* Interest rate: 16% -21% APR
* Service Fee: 0

However these claims are false and fraudulent. The app never gives loan to anyone for 91 days let alone 365 days. All its loan are for 7 days tenure. It has hidden charges contrary to its claim.

Read what Gideon Danjuma a potential borrower said about this fraudulent app on March 25, 2022, just a few days ago.

They are nothing but Criminals (including Naira plus and oxloan). You are going down … Nothing is true about this app. Loan term is not as you said. This app is so so frustrating. I regret ever using this app. Its workers are very very very very very rude. They keep sending threats via WhatsApp a day to the due date. I will never advise anyone to use it. There are other reliable loan app aside cashlion.

2. FastMoney

FastMoney is the 2nd on our list of worst 20 fake loan apps in Nigeria. This scam app has actually been banned by Google and its operation shut down by the Nigerian government. The app has been scamming Nigerians with a lot of dubious charges and raining threats and shame on borrowers even for a day’s default.

Regulatory authorities has now concluded plan to prosecute FastMoney and many other fake loan apps in Nigeria such as NowCash, Sokoloan, 9credit, LendCash, and many others that are breaching the data privacy of their customers by sending threatening and blackmailing messages to them and their contact lists.

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3. LendCash

LendCash digital lender, the 3rd on our list of worst 20 fake loan apps in Nigeria has also been banned by Google and are been traced by Nigerian government for prosecution. Many borrowers have been battered by their unethical and unacceptable modus operandi.

4. BorrowNow

In our list of worst 20 fake loan apps in Nigeria, BorrowNow is gaining the 4th entry. We advise all Nigerian loan seekers to boycott the services of BorrowNow loan app for its excessively high interest, for failing to comply with Nigerian local laws and flouting Google policies on loan tenure.

BorrowNow loan app is one of those bad loan lender that is fond of sending threatening and defamatory messages to their customers and borrwers. Fortunately Google Network has seen through its scam tendencies and banned it from its Play Store.

Just imagine the threatening and defaming message below this app sent to the contact list of one of its customers. This is very unethical.


This is to inform the general public  that [ xxxxx ] with phone number [ xxxxx] has DEFRAUDED an online loan company [ BorrowNow ] with sum of #12111 and he has refused to pay up…if peradventure you get this message, kindly note that your details was dropped from said person when applying for the loan as emergency Contact…. kindly contact the person to make the full repayment on before 12pm today 14th of october as the organization is ready to take drastic actions about his case….

We would not seize to keep broadcasting his details until full payments is made
please note that he’s not trustworthy and no business activities should be carry out with him for now until the said person is declared free .

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Worst 20 Fake Loan Apps In Nigeria. This is a screenshot of the defaming message BorrowNow sent to one of its borrowers. This is a breach of data privacy.

5. LCredit

LCredit is one of the most fraudulent ever to exist digital lending platform. It’s the 5th on our list of worst 20 fake loan apps in Nigeria. Unfortunately after been initially banned by Google Play Store for obvious violation of its policies, this app got its way back to the most powerful online network, Google.

The proliferation of these fake loan apps in Nigeria is indeed endangering and threatening the financial and digital space which has in greater terms facilitated financial inclusiveness of many citizens who have hitherto been inaccessible to the traditional banking system, and except regulatory authorities check their operations, more crisis may be ahead,

Last year, 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.

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Our investigation reveals that LCredit was blacklisting by Google and banned from its Play Store because the fake 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.”

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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!”

LCredit is a top fake loan app in Nigeria and every borrower should avoid it by all means.

6. 9Credit

QUICK LOAN ARENA has been compiling a list of all loan apps in Nigeria that are guilty of data privacy invasion of their customers and sending blackmailing and threatening messages to their contacts whenever there is an alleged loan repayment default. 9Credit is on that list and by virtue of our listing, Google Play Store went ahead to ban the scam app.

9Credit is therefore categorized on our list of worst 20 fake loan apps in Nigeria. It has been in breach of its customers’ data privacy which Google Play Store expects the app to adhere to.

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See the defaming message below 9Credit sent to the people in the contact list of one of its customers. These were people who never signed as guarantors nor were oarties to the loan agreement. QUICK LOAN ARENA understands this is a descent so low and quite unethical.

URGENTLY TREAT!!!This is to notify you that name; temitope victor obembe Phone: 08165032655 / 08147638922 is an INCONSIDERATE PERSON,THIS PERSON has PROVEN to be a CRUEL/HARD HEARTED DEBTOR, also we DISCOVERED that this PERSON IS A PERPECTUAL/UNREMORSEFUL DEBTOR known ALL OVER THE FINTECH COMPANY IN NIGERIA,This DEBTOR goes around COLLECTING MONEY from different fund COMPANY without repaying.

This person has CURRENTLY REFUSE to REPAY the companys money(NC)and has refused pick our calls. Please contact us if you have any information about this person as soon as possible, else the company will be FORCED to take LEGAL ACTION to RECOVER THIS fund, Kindly be INFORMED that this person provided us with all your details STATING that YOU both AGREE to COLLECT this fund from US… if you are not aware of this fund you can as well call the person to delete your information on the APP NOW, because SHORTLY the person DETAILS along sides yours will be PUBLISHED in a DRASTIC MANNER. NC

See the screenshot below

This is a screenshot of the defaming message 9Credit sent to one of its customers that earned them a blacklist on our platform. This is a breach of data privacy.

Next day 9Credit repeated similar notorious feat and sent the message below to contact list of another alleged debtor;

Phone 08024563894 Name Shola Akinyele Good day, the above named person took a fund from NC and has defaulted for several days, broken all contractual agreements that were in place when this fund was taken and has refused to repay the fund and has proven to be a person of questionable character.


7. 9ja Cash

9ja Cash is another predator on our list of worst 20 fake loan apps in Nigeria. The digital lending platform is owned and managed by the deadly fake Sokoloan lending app. We advise all Nigerian loan seekers to boycott the services of 9ja Cash loan app and avoid them like a plague.

QUICK LOAN ARENA understands that the app has been removed and delisted by Google Play Store but it could be lurking around in some phony platform and operating covertly. Its manner is to threaten you with defamatory messages including the people in your contact list. This is unethical and the platform should be avoided.


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9ja Cash is a notable “member”

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Above is a screenshot of the defaming message 9ja Cash (owned by Sokoloan) sent to contact list of one of its customers. From this, this loan app has earned a blacklist by our platform. This is a breach of data privacy. Furthermore they charge high interest rate, debit security fees from your account and illegally limit your loan tenure to 7 days instead of a minimum of 60 days.

8. Cash Wallet

Cash Wallet the number 8 on our list of worst 20 fake loan apps in Nigeria is a scam lending platform that deducts ‘down payment’ from your debit card.

Cash Wallet makes the list of top fake loan apps in Nigeria. The lending platform claims to be a personal loan app in Nigeria where you can get instant cash using your mobile phone anywhere, anytime. The platform says it aims to make financing become easier for Nigerians. However from our investigations, this claim is not true.

Loan Product:
– Loan Amount: ₦ 3,000 – ₦ 100,000 (FALSE. It doesn’t give loans, Cash Wallet deducts ‘down payment’ ranging from N3,000 to N10,000 once your debit card is registered with them.

– Loan Term: minimum 92 days – maximum 365 days/ (FALSE. It never gives gives loan. If it does, wont exceed 7 days.). All reviewers we featured confirmed Cash Wallet don;t give out loans but deduct illegally from their ATM card.

– Interest rate: from minimum 16% to maximum 35% APR( Annual Percentage Rate). FALSE. Cash Wallet has no loan to offer anyone.

– Other Fees: No other extra fees (FALSE. Cash Wallet fraudulently deduct service charge in form of down payment from your registered debit card without giving you loan.

– 100% online process
– Affordable interest cost
– Flexible repayment schedule
– No hidden charges

All the above highlighted claims about CASH WALLET are false, fradulent and written to scam Nigerians.

This is the link to Cash Wallet on Google Play Store. Nigerian consumers and urgent loan seekers should boycott this app. This is our no 5 on our compilation list of fake loan apps in Nigeria. If you still have any doubt, read a few of selected reviews of Cash Wallet on Google Play Store.

9. GGMoney

One platform on our list of worst 20 fake apps in Nigeria that must be avoided by all means is GGMoney. This app is guilty of abusing the data privacy rights of its customers all in the name of ‘recovering their loan’.  GGMoney has been reported on several occasions for numerous unethical practices from the company and its untrained staffs coupled with its high and astronomical interest rate.


This is the link to GGMoney on Google Play Store. Nigerian consumers and urgent loan seekers should boycott this app.

10. Sokoloan

Sokoloan is another online platform on our list of worst 20 fake loan apps in Nigeria. Below are the infractions of the scam lending platform.

  1. Give loans for 7 days as against the 91 to 360 days displayed in Google Play store
  2. Does not give loan up to #300,000 as it claim
  3. 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.
  4. 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
  5. 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.

This rogue lending platform once declared one of its customers dead over failure to repay a loan on the due date.

The customer identified as Chinedu Azuwuike made this known via his verified Facebook profile.

Azuwuike had shared a picture of his “obituary” allegedly sent out by the lending app identified as Sokoloan.

He wrote: “Pls imagine what this stupid Sokoloan lending app did. What a childish act and a very stupid thing. How can they do this to me? Just because of 5 days overdue days?

“I swear with my life, if I pay them, let this obituary be real.”

Azuwuike says he had defaulted in his repayment plan for five days and the next thing he saw was his obituary.

sokoloan lending app

11. Palmcash

See below what a leading lawyer has to say about Palmcash and other digital banks on our list of worst 20 fake loan apps in Nigeria that are scamming customers and borrowers.

“The existence and operations of many of these soft and quick loan agencies are largely illegal. Their interest rates are similarly illegal majorly under the Money lenders laws. The failure to pay loan is a contractual one remediable by action for recovery and damages but they employ crude and methods of blackmail and libel towards recovery. They are all actionable wrongs but usually the owners of these quick loan companies are unknown or “miragy”. And the victims are mostly too embarrassed to seek remedy against them in court.” – Andy Akporugo Jr, Legal Practitioner. 

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.

12. Ease Cash

Ease Cash is number 12 on our list of worst 20 fake loan apps in Nigeria. It is the new name for the banned and blacklisted rogue digital lending app, EasyMoni and is now fully hosted and registered on the largest internet network, Google! Borrowers Beware!

This is Ease Cash digital lending app on Google Play Store, the new loan app that replaces EasyMoni

EasyMoni the rogue digital lending app that was banned and blacklisted by Google weeks ago has changed name to Ease Cash in order to escape and continue fleecing innocent Nigerian borrowers. The digital lending app is now fully reregistered as Ease Cash on Google Play Store.

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.

QUICK LOAN ARENA hereby warns borrowers and customers to beware of this notorious lending app so as to avoid sad tales of public disgrace which the EasyMoni is known for.

We have found out in our previous reports that EasyMoni digital lending app, now called Ease Cash is owned and managed by loan sharks from China and Hong Kong. It neither has an office nor telephone here in Nigeria but found of sending threat to any customer who dare incur its wrath of defaulting it very high interest loans and unfavourable conditions attached.

13. ForNaira

Listen to what a customer has to say about ForNaira, another on our list of worst 20 fake loan apps in Nigeria.

ForNaira is the worst fake quick online loan app…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.

Albert Thelma
September 7, 2021

Urgent loan apps that are displaying their wares for Nigerians are presently uncountable and the result of this are the different fraudulent practices exhibited by majority of these fake apps. Some are not even in the space to provide loans at all, all they do is steal from their customers. Another of such fake loan apps is Rapid Naira and Cash Club, etc.

Initially ForNaira quick loan app  was hosted Google Play Store but has been permanently banned and blacklisted after the giant network discovered it was fake and scam.

What ForNaira app claims as its features:

– Borrow up to ₦300,000
– Fast and easy access to loans, with no hidden charges
– Account is credited as soon as the loan is approved
– No collateral or guarantor needed
– our Loan App is extremely secure and reliable
– Artificial intelligence is used to run credit scoring, making loan decisions instant!
– We are available 24/7 to support you

Contrary, ForNaira app does the following:

  1. Give loans for 7 days as against the 91 to 360 days displayed in Google Play store
  2. Does not give loan up to #300,000
  3. 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.
  4. Yes they do not collect collateral but they ask for guarantors.
  5. 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
  6. 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.

14. GotCash

GotCash digital lender is number 14 on our list of worst fake loan apps in Nigeria. We discovered this  ealy enough and warned Nigerians to avoid the scam loan app. We had published an article early in November, 2021 where we revealed how PalmCash and Gotocash and other rogue loan apps are defaming Nigerian consumers and why Google should blacklist them and take them down from its Play Store.

QUICK LOAN ARENA is the first and only platform that evaluates and reviews the activities of loan apps and digital lending agencies and companies in Nigeria.

We have been at the forefront of a campaign to get rid of rogue and fradulent fake loan apps in Nigeria most of them also defaming and maligning their customers. 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. Those we have gotten evidence of their infringement and violating the data right of Nigerians we have blacklisted them and advised customers across the nation to boycott their service. Please avoid Gotcash, it’s a fake loan app.

15. NCash 

NCash is number 15 on our list of worst 20 fake loan apps in Nigeria. Unfortunately it is still hosted on Google Play Store as at the time of publishing this article. The lending platform 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.

When we first wrote this report, NCash was still hosted on Google Play Store but we have confirmed that the fraudulent app has now been permanently banned by the giant app hosting network.

These loan apps are set up in our view 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. Nigerians should boycott all of them.

16. GoToCash

Google yanked off GotoCash and PalmCash, twin rogue platforms on our list of worst 20 fake loan apps in Nigeria from its Play Store, on November 28th, 2021 after serial violations of its policy on customers’ data privacy.

Two other fake loan apps we have discussed earlier, BorrowNow and LendCash were removed around the same time over the same reason: violating customers’ data privacy and sending defamatory and threatening messages to its customers, their families and contact list. We advise Nigerians to avoid these fake loan apps like a plague. Even their interest is excessively high and they charge illegal service fees.

17. NairaPlus

NairaPlus gains the 17th entry on our  list of worst 20 fake loan apps in Nigeria.

This scam lending platform is one of the loan apps in Nigeria invading the data privacy of its customers and sending blackmailing and threatening messages to their contacts.

Naira is in breach of its customers’ data privacy policy which the different loan apps vowed to adhere to during registration and hosting on Google Play Store. This is also required by local laws for any loan app or lending company operating in Nigeria. We are afraid this scam app is still hosted on Google Play Store despite our various report of scandalous and unethical practices by it.

On our list of bad loan apps in Nigeria, NairaPlus is also gaining the first entry. We advise all Nigerian consumers to boycott the services of NairaPlus loan app as it has consistently failed to comply with local laws and Google policies.

See the defaming message below NairaPlus sent to one of its customer a day a loan repayment was to fall due.


Worst 20 Fake Loan Apps In Nigeria

This is the link to NairaPlus on Google Play Store. Borrowers should avoid this fake loan app.

18. GoCash

GoCash is the 18th on our list of worst 20 fake loan apps in Nigeria. It’s a very customer unfriendly and bad loan app that blackmails and send threat messages to its borrowers even before a loan is due. This lending app deducts illegal fees from your ATM card, sends defamatory messages to your contact, violates customers’ privacy and disobeys Google policy on loan tenure… it grant loan just for 7 days.

Read the account of a victim customer below:

My name is Oluwole Oladele (Not real names). I am a transporter working in Lagos.

I applied for a loan of N8,000 from GoCash lending company and my repayment was due for less than two weeks. I was called by one of their lady official and I told them to please hold on that I will pay back. The lady keeps threatening me that she will post my picture to all my contacts. Finally I was able to pay the outstanding loan yesterday not knowing fully well that the interest has accumulated beyond the said amount marginally. The left over is just N420. And she said she will not clear me until this is paid and she will send my picture to my contacts which she eventually did.

Somebody just called me from Ijebu East that an online agent from GoCash just called her that I am owning them. That my picture and phone number was included. What a shame!

When will this stop? This is after I have paid their money. Yet I am being embarassed. See below the message GoCash sent to me:


They sent another blackmailing, harassing message to me soon after again.


A lot of tension is building up and when our company finally hits you, then you will wish you never took us for granted after numerous warning messages.

We are urging you to go and make FULL PAYMENT of your whole debt TODAY!.


There will be a formal detailed messaging of your long defaulted debt considered to be FRAUD (FALSE PRETENCE) affecting your registered emergency contacts and family’s image with analysis for months sent officially via the company’s text message channel, booked TV stations and our social media platforms to all your phone book contacts (100%) accessed during your registration with the App (A to Z), starting from NOW. As we give updates on your response and feedback towards your debt within 2 HOURS.

Bank Verification Number (BVN) which hold you LIEN to all loan credit companies in Nigeria as a defaulter will be blacklisted by the Central Bank of Nigeria and placed under temporal but strict blockage till further investigations is been carried out.

Pay directly via the APP or request for your offline Virtual Account(GOCASH SOKO COLLECTIONS 1023408529 UBA)



19. FastMoney

FastMoney is one of the illegal fraudulent platforms that the regulatory authorities plan to prosecute for data privacy violation of customers, and it is the 19th on our list of worst 20 fake loan apps in Nigeria. Other digital banks such as NowCash, Sokoloan, 9credit, LendCash which have been analysed in this article and others that are still breaching the data privacy of their customers by sending threatening and blackmailing messages to them and their contact list are also on the radar of the enforcement authorities.

The National Information Technology Development Agency (NITDA) was quoted as saying it has received over 40 petitions from members of the public on the personal data abuse of some lending companies.


QUICK LOAN ARENA understands that digital lending companies in Nigeria, most of them been fake and illegal, have been involved in the unsavoury and unethical practices of sending harassing messages to their customers whenever there’s a default of loan repayment, even from 24 hours.

These platforms go as far as sending similar messages to families and contact lists of customers who were never parties nor guarantors to such loan agreements, labelling them as “criminals on the run with companies money,” in order to shame and compel repayment by the allegedly defaulting customers. This list of worst 20 fake loan apps in Nigeria and others not yet captured under our radar should be brought to their kneels and appropriate laws enforced to restrain them.

Frequently Asked Questions (FAQs)

1. Which is the most reliable loan app in Nigeria?

Carbon. Carbon is our first in the list of the 5 best digital lending apps in Nigeria. The loan platform claims to give up to N1m unsecured credit. Carbon, formerly known as Paylater, gives instant loans to its customers and you do not require any collateral, guarantor or documentation to access its loans.

At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have      to bigger funds. The loan platform is available 24/7. You can apply on weekends and holidays and get instant access to loan credited to your bank account.

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2. Is Palmcredit approved by CBN?

Palmcredit is owned and managed by Newedge Finance Limited (RC No: 1585793) and it is fully licensed by the Central Bank of Nigeria (CBN) to operate as a finance company in Nigeria. Palmcredit is CBN-approved.

3. Which app gives loan faster?

QuickCredit. QuickCredit, our second in the list of the 5 best digital lending apps in Nigeria and it gives loan up to N100,000 instantly and fast with no paperwork.

QuickCredit is a simple, technologically deployed digital lending app in Nigeria that provides micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs.

With QuickCredit, getting loans is a simplified process and you can apply for up to ₦100,000 with loan tenors of up to 90days and have your money sent straight to your bank account in minutes.

QuickCredit super-fast loan solution comes with no paperwork and no delay to meet your urgent financial needs within 24 hours.

4. Which app is best for giving loan?


FairMoney is the third in our list of 5 best digital lending apps in Nigeria for quick, seamless instant loans. Its procedures and excellent customer service are of great benefits.

6 Best Loan Apps in Minutes In Nigeria

This platform gives loans ranging between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%).

5. Which app gives loan without ATM?

The following are the apps that give loan without ATM in Nigeria:

Branch loan app
Aella loan app
Quick Credit loan app
FairMoney loan app
Umba loan app
Renmoney loan app
OKash loan app
GTB Quick Credit loan app
Money in Minutes loan app
Quick Check loan app

8 Best Instant Loan Apps Without BVN In Nigeria

6. Can I get loan without debit card?

Yes you can. A debit card is not mandatory condition to obtain a loan. In fact many micro-lending companies and loan apps do not require a debit card or an ATM card for loan. Once you can show that you have the capacity for repayment, either by your credit history, your present salary or your analysis of your bank statement, many of the loan apps will oblige you a loan. All the loan apps stated above will give you credit without a debit card.

10 Best Loan Apps Without ATM Card or Debit Card In Nigeria 2022

7. Which is the best app to get instant loan in Nigeria?

Below is a list of the best apps to get instant loan in Nigeria: Please note that this rating is subject to review from time to time.

1. Branch

2. Carbon

3. Aella Credit

4. QuickCredit

5. Money in Minutes

6. FairMoney

7. Page Financials

8. Renmoney

9. Umba

10. Okash

11. QuickCheck

12. Migo

13. Zedvance

14. C24 Capital

15. GTB Quick Credit

Top 10 Platforms To Get A Loan In Minutes In Nigeria From Top Providers

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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 (quickloanarena.com), 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. My name is Elvis from Jalingo Taraba State. I borrowed from Gocash. The day my loan is due for payment, they just called me once and the next thing is they tagged my picture as “CHRONIC DEBTOR” with defirmatory massage and send to almost all my contacts. This happened on Friday afternoon 18/3/2022. Even after telling them the fruits I supplied got damaged on the way with picture evedence. And I’ve never defaulted for over 3 months that I’ve been with them. As I write now, they’ve even blocked my bank account with GTBANK.

  2. Good day am Modupe I borrowed money from GGmoney on my due date they called and I missed they call I try calling back but the number is not going through the next thing they called my sister in law. That your wife Modupe borrowed my money from our company and they lied to her that I put her number down. I was very embarrassed when call to tell me

    1. GGMoney is a fake loan app I can assure you… I am aurprised it wasn;t added to this list. I am sure you will get a response soon from the publishers. This apps are mostly scammers and constitute threats to our economy

  3. Thanks so much for this wonderful news , I am currently being harassed by Lcredit , credit and 9credit , God is my witness , I don’t even know them talkless of downloading the app , i have only borrowed money n 2020 during luckdown from cabon and sokolon , do you believe sokolon withdraw 18k instead of 13k i borrowed when I was in the hospital , just 4days late
    Anyway thanks so much

  4. I was posted as a chronic debtor by an online loan app and was sent to my contact and they also called several people on my contact I swear they will collect their money from those they ve been reporting me to.

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