Latest List of Online Loan Apps Banned in Nigeria

Latest List of Online Loan Apps Banned in Nigeria

The landscape of online lending in Nigeria has been under intense scrutiny in recent years. Concerns over predatory practices, customer harassment, and privacy violations have led to a crackdown on several online loan apps.

This blog post will explore the reasons behind these bans and guide in identifying potentially harmful loan apps.

Why Are Online Loan Apps Banned in Nigeria?

The primary regulatory agency responsible for overseeing the digital lending space in Nigeria is the Federal Competition and Consumer Protection Commission (FCCPC).

Here are the common reasons why the FCCPC takes action against online loan apps:

  • Exorbitant Interest Rates: Some loan apps charge astronomically high interest rates, trapping borrowers in spiraling debt cycles.
  • Aggressive Debt Collection Practices: Many banned loan apps resort to unethical and abusive tactics to retrieve loans, including public shaming, harassment of borrowers’ contacts, and threats.
  • Data Privacy Violations: Certain apps collect and misuse borrowers’ sensitive personal data without their consent.
  • Lack of Transparency: Banned apps often have hidden fees, misleading terms and conditions, and unclear repayment structures, exploiting unsuspecting customers.

Consequences of Using Banned Loan Apps in Nigeria

  • Financial Exploitation: You risk paying extremely high amounts for small loans due to unreasonable interest rates and hidden charges.
  • Harassment and Distress: Banned loan apps may employ aggressive methods that cause emotional stress and damage your reputation.
  • Loss of Privacy: Your personal data could fall into the wrong hands and be used for malicious purposes.

List of Banned Online Loan Apps in Nigeria

The FCCPC frequently updates its list of banned or delisted loan apps. It’s important to stay current on this list. Some notable apps that have been banned or delisted include:

  • Sokoloan
  • GoCash
  • Okash
  • EasyCredit
  • 9jaCash
  • Swiftkash App
  • Hen Credit Loan App
  • Cash Door App
  • Joy Cash-Loan Up To 1,000,000 App
  • Eaglecash App
  • Luckyloan Personal Loan App
  • Getloan App
  • Easeloan Apps
  • Naira Naija
  • Cashlawn App
  • Easynaira App
  • Crediting App
  • Yoyi App
  • Nut Loan App
  • Cashpal App
  • Nairaeasy Gist Loan App
  • Camelloan App
  • Nairaloan App
  • Moneytreefinance Made Easy App
  • Cashme App
  • Secucash App
  • Creditbox App
  • Cashmama App
  • Crimson Credit App
  • Galaxy Credit App
  • Ease Cash App
  • Xcredit
  • Imoney
  • Naira Naija
  • Imoneyplus-Instant
  • Nairanaija-Instant
  • Nownowmoney
  • Naija Cash
  • Firstnell App
  • Flypay
  • Spark Credit
  • Luckyloan Personal Loan App

You can find the latest information on banned apps on the FCCPC website.

How to Identify Potentially Harmful Loan Apps

  1. Check Regulatory Approval: Before using any loan app, verify if it is approved or registered with the FCCPC.
  2. Scrutinize Reviews: Read online reviews and forums for any red flags regarding exorbitant interest rates, abusive practices, or data breaches.
  3. Examine Permissions: Pay close attention to the app’s data permissions. Be wary if the app requests access to irrelevant information such as your contact list or gallery.
  4. Read Terms Carefully: Thoroughly review the loan terms and conditions for clarity on interest rates, fees, repayment schedules, and privacy policies.

Alternatives to Banned Online Loan Apps

Traditional Banks

Explore borrowing options from reputable banks that offer transparent terms and regulated interest rates.

Microfinance Institutions

Microfinance banks can provide small loans, often with lower interest rates than online loan apps.

Cooperative Societies

Consider joining a savings cooperative or seeking loan facilities within your community or workplace.

Protecting Yourself

The FCCPC is committed to protecting Nigerian consumers from exploitative online loan sharks.

If you have had a negative experience with a banned loan app, you can file a complaint with the FCCPC.


While online loan apps can offer convenience and accessibility, it’s essential to be aware of the risks associated with predatory lenders.

By avoiding online loan apps banned in Nigeria, practicing due diligence, and exploring alternative borrowing options, you can protect yourself from financial harm and make informed decisions about your financial well-being.

Important Note: Always confirm the current list of banned apps directly on the FCCPC website for the most up-to-date information.

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