The issue of fake loan apps is a more prevalent matter that is plaguing the modern digital age, particularly in the country we find ourselves. Despite the relative ease people enjoy accessing urgent credit facilities via the advent of loan apps, however, we should note that there is an unfortunate aftermath with the scenarios of fake loan apps that utilize the digital loan app system for fraudulent gains.

These scammers operate fake loan apps for their malicious intents, by using the guise of offering fast loan approvals with seemingly no collateral and low interest rates. Unsuspecting targets that fall prey to this guise are usually in dire need of financial assistance and are usually duped of their sensitive personal or financial information, or even, in some cases, the little money they have left.

This sensitive information is then used by scammers for nefarious activities of theft, frauds, monetary extortion, cyber-bullying and other illegal activities that would greatly harm their victims.

So, before you proceed to apply for a loan credit on any loan app, it’s best to take a quick pause and digest this blog article to familiarize yourself with the names of notorious fake loan apps within Nigeria. This will be crucial in improving your choice of a good loan app.

Before we jump straight into listing out fake loan apps, we should know that the Federal government of

Nigeria is very much proactive in the fight against fake loan apps and much harm they cause to its citizens. Let’s check this out.

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Federal Government intervention against fake loan apps.

As we all understand that not every loan app you see out there is legitimate with its transactional dealings, with several fake loan apps being fished out, blacklisted, and banned in Nigeria for shady, malicious practices. These fake loan apps typically operate outside their legal jurisdictions, resorting to extreme lengths to cause their beneficiaries distress and unrest through digital harassment and bullying.

Hence, the Nigerian Federal government has tasked the CBN- the Central Bank of Nigeria with blacklisting various fake loan apps that have been notoriously recognized for duping unsuspecting Nigerian citizens. Blacklisting them usually entails that they are unregistered with the CBN, have no affiliations with the government, and are possibly on the radar for a more permanent official ban.

Check Also: How to spot fake loan apps - 5 Steps

Wrong, unprofessional activities that loan apps dish out during unpaid loan cases, which are outside legal jurisdictions, such as sensitive information infringement, harassing phone calls, social media threats, among other shady operations, are being flagged by the CBN as illegal and might even result in the particular loan app being cancelled and banned permanently.

The CBN’s consistent blacklisting and crackdowns of these fake loan apps are evidently signalling a good commitment of the government towards securing and improving the financial security of its citizens from digital frauds, scams, and deceptive measures of fake loan apps.

As of 2022, the Nigerian Federal government also endorsed the NDPB – the National Data Protection Bureau in collaboration with the CBN – Central Bank of Nigeria, FCCPC – Federal Competition and Consumer Protection Commission, and other relevant agencies to initiate a qualitative investigation into the activities of all loan apps and companies within Nigeria.

It is no news that the discovery was highly disturbing, with several loan apps being permanently blacklisted and banned as they were guilty perpetrators who were involved in using aggressive and shady loan repayment methods. Some were even exploiting vulnerable Nigerians for their information, which they use for other deceptive activities.

List of fake loan apps in Nigeria

As of now in 2025, you should be effectively able to navigate and protect yourself alongside your finances. To do this, however, you need to be adequately informed about fake loan apps that have been flagged within Nigeria to access credible loan facilities

Below, we have compiled a list of several fake loan apps that have been successfully delisted and indefinitely suspended by the Nigerian Federal Government for wrongful activities via its regulatory agencies. These are ;

EasyCredit
Hen Credit Loan App
Joy cash loan app
Luckyloan loan app
Lioncash loan app
Gocash loan app
Kashkash app
Speedy Choice loan app
Getloan loan app
Eaglecash loan app
Cashdoor loan app
Swiftkash app
GMoney app
Naira Plus app
Fast Money loan app
EasiMoni app
Naira Plus app
9jaCash loan app
GoCash app
Soko Loan app
Icoin Loan app
GetCash app
9credit app
Xcredit loan app
Galaxy Credit App
Imoney app
Ease Cash App.
Imoneyplus loan app
NowNowmoney loan app
Firstnell app
Flypay loan app
Spark Credit app
Nairanaija loan app
Cashlawn app
Yoyi loan app
Easynaira loan app
Easeloan app
Crediting app
Nut loan app
Nairaeasy Gist loan app
Cashpal app
Camelloan app
Nairaloan app
Cashmama
Creditbox
Cashme
Crimson credit loan app
Secucash app
Moneytreefinance Made Easy App
Naija cash app

Check Also: 12 Advantages and Disadvantages of online loans for businesses in Nigeria

How to protect yourself against fake loan apps

To protect yourself against fake loan apps, knowing just the flagged and blacklisted loan apps will only help to some extent. Much more will be required to easily access whether a particular app is genuine or not as these fake loan app scammers are seemingly upgrading their guises and antics every chance they get to meet up with government detection mechanisms.

Effective strategies to follow to prevent falling victim to their antics.

1. Use Legitimate loan apps

Always check out loan apps before you download for ratings and user feedback comments to ascertain its credibility before you download. Check for a licensing or government certification like the CBN or FCCPC, and relevant contact information like email support, after immediately downloading to verify they are genuine.

Additionally, be wary of apps that require external browsers before you can access, i.e, loan apps that aren’t on the Google Play store or a reputable app store.

2. Protect Your Private Information.

No matter how tempting the situation might be, never share your sensitive financial or personal information and data with a third-party website. This means keeping key details such as your BVN, ATM pin, and profile passwords secure from unverifiable platforms or even unknown phone calls.

3. Being vigilant

This entails that one is always on alert and ever watchful for potential fraud and scam attempts.
A way to do this is by being properly updated on the latest loan scams and having relevant information of their operations.

Also, you should double-check any loan offer you might encounter and properly reference its details to ascertain its legitimacy.

Most importantly, whenever you are using a digital device, either a public computer or a personal device, ensure to sign out of the loan app completely, which will help to minimize risks of unauthorized logins to your profile account.

4. Strong authentication and regular updates.

Setting a strong password will help to keep your profile information well-secured and eliminate any unauthorized access to your loan app account. A good password should include a mix of uppercase and lowercase letters, special characters, and numbers, which is usually more than 8 characters.

Also, always ensure that your device is being regularly updated to keep its operating system and software programs, like anti-virus, up to date with new upgrades. This will also help to modify security patches and improve your digital security.

Check Also: How to get a loan from Bank of industry (BOI) and other development banks in Nigeria that give loans - 6 Easy Steps

5. Be very wary of unsolicited phone calls and messages.

You should be aware that nowadays, fake loan apps have resorted to using sophisticated methods of phishing attempts, including ordinary phone calls, SMS texts, and even emails, to steal your information. So one needs to be highly careful when picking calls and can even leverage identity verification software like the “Truecaller app” that would show the details of the incoming caller. In the case of these malicious calls, their incoming calls would display either “spam” or “scam,” which would provide a warning to you.

Conclusion

Yeah, we are all familiar that loan apps can come through when you need quick cash urgently, but one should know that just like people, not everyone sticks to the agreed-upon rules. From harassment to threats, hidden interest fees, and identity data theft are all issues that could arise from using the wrong loan app to borrow from.

The good news, however, is that all these risks can be properly avoided if you use genuine, credible loan apps. So, before you decide to borrow a loan, read this article and digest it well, and you will surely get the best loan from a credible source.

List of fake loan apps in Nigeria – 40 Loan Apps you must avoid

Federal Government intervention against fake loan apps.

List of fake loan apps in Nigeria

How to protect yourself against fake loan apps