List Of fake loan apps in Nigeria Loan scams have become a growing concern in Nigeria, with fraudulent companies preying on individuals in need of financial assistance.

In this article, we’ll shed light on the disturbing rise of fake loan apps in Nigeria and provide you with valuable insights on how to spot and avoid falling victim to their schemes.

In Nigeria, a surge of fake loan apps has emerged, posing significant risks to those seeking quick financial solutions.

So in this comprehensive guide, we will shed light on the deceptive practices of these fraudulent companies, arm you with knowledge to identify them, and offer insights to protect yourself from their clutches.


How Does Fake Loan Apps work?

Before we continue with the list of fake loan apps in Nigeria, it’s important to know how they work so you can easily spot them on your own whenever you cross path with them.

Fake loan apps operate by capitalizing on the desperation of individuals seeking quick access to funds. They promise easy approvals, low credit requirements, and rapid disbursement of funds.

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However, beneath these enticing offers lie hidden fees, exorbitant interest rates, and, in some cases, outright theft of personal information.

Types of fake Loan Scam in Nigeria:

Below are some of the Scams practice by these fake loan apps. These scams come in various forms, targeting different financial needs.

Personal loan scams lure borrowers with attractive terms, only to demand upfront payments before delivering the loan.

Payday loan scams promise fast cash but come with astronomical interest rates that trap borrowers in a cycle of debt.

Advance fee fraud schemes ask victims to pay a fee in advance, after which the scammer disappears, leaving the victim empty-handed.

Top List of Fake Loan Apps in Nigeria

Navigating the sea of loan apps to find out which is fake or not can be overwhelming, especially when deceptive actors are masquerading as legitimate financial institutions.

Here are some of list of fake loan apps in Nigeria that you should watch out for:

1. 9Credit
2. 9ja Cash
3. BorrowNow
4. Cash Mall
5. Cash Wallet
6. CashLion
7. Ease Cash
8. FastMoney
9. ForNaira
10. GGMoney
11. GoCash
12. GotCashger
13. GotoCash
14. KashKash
15. LCredit
16. LendCash
17. NairaPlus
18. NCash
19. Palmcash
20. Sokoloan
21. ChaCha
22. Easy Moni
23. EasyCredit
24. Here4U
25. Maxi Credit
26. SoftPay
27. Speedy Choice

These fake loan apps cunningly weave the illusion of genuine financial assistance, but underneath their attractive façade lies a web of deceit. So if you must take loan from online loan apps, be careful of the list above.

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How to identify fake loan apps in Nigeria

Although they are Many strategies used by these fake loan apps, but the most of them are discussed below.

1. Crazily High-Interest Rates

The allure of quick cash often blinds us to the terms and conditions attached. Fake loan apps exploit this vulnerability by offering loans with exorbitant interest rates.

It’s crucial to understand the market average and reject any offer that deviates drastically.

2. Fake Office Address

Scammers employ tactics to appear legitimate, including listing false office addresses.

Before engaging with any loan app, research its address, and cross-reference it to ensure its authenticity. Genuine financial institutions maintain transparent communication.

3. Unregistered Loan Companies

A significant hallmark of a fake loan app is its lack of registration with relevant authorities.

Authentic lenders adhere to strict regulations to protect borrowers. Verify the loan company’s registration and licensing status before proceeding.

4. Short Loan Repayment Time

Beware of loan apps imposing incredibly short repayment windows. Genuine lenders offer flexible repayment options that align with borrowers’ financial capacities.

An app pressuring you into an unreasonably tight repayment schedule might be a scam.


5. Pressure to pay back loan almost Immediately

Scammers excel at creating a sense of urgency, coercing borrowers into making rash decisions.

Authentic loan providers allow borrowers ample time to evaluate terms and conditions. Reject any app that pushes you to decide hastily.

6. Insecure Website

A secure website is a fundamental requirement for any legitimate financial service.

Ensure the loan app’s website uses “https” and displays a padlock symbol in the address bar. Your financial safety depends on this security measure.

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7. Sanctioned by financial authorities

Authentic lenders operate under the watchful eye of financial authorities. Fake loan apps sidestep regulations and exploit unsuspecting borrowers.

Verify the app’s authorization with relevant financial bodies before proceeding.

8. Aggressive Collective Behavior

Genuine lenders follow ethical practices when collecting debts. Fake loan apps resort to harassment and threats. If you encounter aggressive behavior, it’s a telltale sign of a scam.

9. Not Available on Google Play Store

Google Play Store features legitimate apps that adhere to security standards.

If a loan app is absent from this platform, it’s best to steer clear. Google’s vetting process helps shield users from potential threats.


10. Hidden Loan Conditions

Scammers tuck away hidden clauses that lead to inflated charges and compromised personal information.

For Your own interest, Prioritize reading the terms and conditions in their entirety. If anything appears ambiguous or unfair, reconsider your decision.

11. Requests for Passwords and Sensitive Information

Authentic loan apps never request sensitive information like passwords or PINs.

If an app makes such demands, it’s a glaring red flag. Terminate your interaction immediately and report the incident.

12. Bad Customer Feedback

Online reviews and customer experiences can reveal the true nature of a loan app.

Consistent negative feedback and complaints are strong indicators of a fake loan app.

Which loan apps were removed from Google Play Store in Nigeria?

The battle against fake loan apps isn’t new. Several apps, including

Joy Cash-Loan Camelloan
Eaglecash, Moneytreefinance Made Easy
Hen Credit loan
Nut loan
Cash door
Cashpal and more, were removed from the Google Play Store due to their deceptive practices. However, vigilance is crucial, as these scammers might attempt to resurface under different names.


The world of digital loans is a double-edged sword, offering convenience and risk in equal measure.

By educating yourself on the red flags and employing cautious measures when interacting with loan apps, you can shield yourself from the clutches of scammers.

Your financial well-being deserves the utmost protection. Remember, knowledge is your armor against deception. Stay informed, stay vigilant, and stay safe.


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