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List of fake loan apps in Nigeria (50+List Of Fake Loan Companies In Nigeria 2022)

List of fake loan apps in Nigeria

Because of the situation of the country, Good numbers of people prefer to borrow loans and default or adjoin the payment date while paying accumulated interest later on. But this also gives room to a lot of fake loan apps coming in just to scam people by trick or by giving people a little amount of loan and accumulating unrealistic interests that will end up hurting them in the end. In this article I will be compiling a list of fake loan apps in Nigeria right now you need to watch out for.

What is a fake loan app?

When we are talking about fake loan apps we are talking about the loan shark. There are loan companies that lend people loans in return for getting a very huge sum of interest and if you default will use any means of illegal activity to pursue you to get their money and interest accrued. They go a long way to search through your contact and start calling and defaming you to anyone they get to call with your contact and they don’t care about what comes out of it than just for them to get their money and interest. I will be giving you a list of fake loan companies in Nigeria also known as illegal loan companies or loan sharks.



56 List of fake loan apps in Nigeria

This list was compiled based on users’ complaints, illegal activities, huge interest collection, removal on app/play stores, and aggressive collection techniques among others!

Also, a good number of these loan apps operate on 4 to 7 days loan tenure which is unlawful on the loan policy. Come to think about it what is the essence of borrowing a loan that they will start accumulating interest in the next 4 days

There are over 50 lists of fake loan apps in Nigeria currently base on different complaints and other measures stated above

  1. BorrowNow
  2. LCredit
  3. EaseMoni
  4. AngelLoan
  5. GoCash
  6. Speedy Choice
  7. NowCash
  8. Star Loan
  9. Kashpal
  10. OKash
  11. LendCash
  12. LCredit
  13. ChaCha
  14. Easy Moni
  15. Here4U
  16. CycleCash
  17. EasyMoni
  18. GoCash
  19. KashKash
  20. Rapid Naira
  21. LionCash
  22. Ajeloan
  23. SoftPay
  24. CreditHall
  25. Mikoloan
  26. SuperCash
  27. XCredit
  28. CashRain
  29. iCoin
  30. NairaPlus
  31. Lucky Loan
  32. Ucredit
  33. 9ja Cash
  34. Cash Wallet
  35. Monicredit
  36. Creditup
  37. Zuma Cash
  38. EasyCredit
  39. GGMoney
  40. 9Credit
  41. Sokoloan
  42. Palmcash
  43. Ease Cash
  44. ForNaira
  45. GotCash
  46. NCash
  47. GotoCash
  48. Cash Mall
  49. CashLion
  50. GetCash
  51. Maxi Credit
  52. iCredit
  53. PalmCredit
  54. Aimloan
  55. CashFarm
  56. OxloanFastMoney
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Top 5 List Of fake loan apps in Nigeria

Let me quickly take you through the top 5 list of fake loan apps in Nigeria and some things you need to know about them

BorrowNow: High Intrest

BorrowNow is number one on our top 56 List Of fake loan apps in Nigeria and also number one here because there are a lot of complaints about this loan shark.

You need to watch out for this loan company BorrowNow. They have very high interest and they are not following local laws guiding loans firms

They are also known for threatening their customers unethically in order to collect their money

The loan app has been disabled or deleted from the google play store for violation of the policy! Watch out for them

Ease Cash formally EasyMoni : Banned and blacklisted by Google then change to Ease Cash

EasyMoni finds its way back by changing its name to Ease cash. You need to take note. Presently the app is now on google play as easyCash.

Easymoni is found to be terrorizing its users and blackmailing them whenever there is any disagreement or delay. Google blacklist them after breaching the privacy of people and other bad ratings\

From research, it’s known that Easymoni now Ease Cash has no office in Nigeria but own and managed  by China and Hong Kong


GoToCash : Customer Privacy Violation

GoToCash is number 27 on our top 57 List Of fake loan apps and surfaces as number 3 in our top 5!

November 28 2021 google dismissed GoToCash from the play store over a customer privacy violation.

They charge illegal hidden charges and excessive-high interest also. You need to watch out for this company they might come back in business with a similar name.

LCredit : High Intrest and banned by Google

After google banned LCredit they still find their way into the system and still operate through their app. They keep exposing customers’ private data and giving loans with very high interest.

They are operating through their website and giving people links to download their app directly. If you see any advert or people referring you to them to take a loan from them just refuse

Cash Mall: Claim 90 days repayment but its 7 days

Cash Mall try its best to trick people to trust them by telling people they offer loan from 2,000 to 100,000 with a duration from 91 to 365 days but

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you know what it’s all lies

One of its victim users expose them that their repayment is just 7 days and if they defaulted a day after that they will start sending defamation messages to all their contacts and also on social media

They have been banned by google too but they might come back with another name make sure you are well-educated before taking any loan through loan apps


How to identify fake loan apps in Nigeria

There are some general rules and ideas you need o know to quickly identify a fake loan app if you see one. Most of them find their way out but very few escape this list!

Disable On Google Play Store

Google always tries its best to make the internet a secure place for all! They keep removing fake loan apps on the google play store whenever FCCPC requests removal or they found any fraudulent or privacy bridge activities.

Some of the fake loan apps are still active on the google play store so don’t rest assured that all loan apps on the google play Store are legit. Try to always use the information in this write-up to guide yourself before applying for any loan.

The USE Of Http instead of Https

Some of the fake loan apps make use of HTTP instead of the secure network HTTPS

Note website must have a padlock for you to know it’s secure (But not necessarily secure)

Even if not fully secure with that HTTPS but if you see any loan app without it then that is a fake loan app!


Negative Feedback From Customers And Users

This aspect is very important if you check for an app review on the net and you see a lot of negative reviews then you need to stay away from that app, website, or company. Also, check the review on the app store or play store!

Customers that have to use the app will give either good or bad reviews of it after using it so you will not fall into the trap too

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Hidden loan conditions and high-interest rate

If any loan app has hidden loan conditions or hidden interests or a very high-interest rate then you should know that is a fake loan app and stay far away from that company. There is no point you requesting a loan that you will end up paying time two in the long run

Abusive practice

There are no companies that’s will take customers for granted no matter what. So if any loan company bridges your privacy and threatens you or defames you then you should know it’s a fake loan app.

This is why you need to check feedback from those that have used it before maybe they are abusive or not

No website, no social media, or contact

Some of these fake loan apps will not have official websites though some will have. Most of them will not even have a social media support handle. They have no customer care number and no physical office.

You need to check all this before you think of taking a loan from loan apps in Nigeria

Advance payment strategy

Some of these loan apps introduce advance payment or a downpayment before they issue loans for you. Then you should quickly know that they are fake loan apps because there is no loan company that will ask for advance or downpayment before lending you any money

List Of Legit Loan Apps In Nigeria

To Make this article more detailed we need to give you a few lists of legit loan apps in Nigeria that you can try out and check the differences

Branch make it to number 1 because they are trusted and tested while others too are tested!

Alat by Wema

Page Financials
Specta Loan
Aella Credit
Money in Minutes

C24 Capital
MoneyPal (Zedvance)


In conclusion, not every loan app that comes your way sugar coating itself that they will loan you a huge sum of money or little are real most of them are fake they are just scam in disguise you need to watch out and go through this list of fake loan apps in Nigeria over and over again before you sign up for any loan app