Many Nigerians now turn to online loan apps for quick financial relief, and not all loan apps are legitimate. Here is a list of banned loan apps in Nigeria and how to identify them, as well as a guide on how to stay safe from loan scams.
This list of delisted loan apps in Nigeria in 2025, such as this, is growing as regulatory authorities crack down on fraudulent and exploitative lenders. Many Nigerians have fallen victim to loan apps that charge outrageous interest rates, invade privacy, and harass borrowers. To protect consumers, the FCCPC, CBN and other regulatory bodies have stepped in, shutting down several of these predatory platforms.
Several fake loan apps in Nigeria were banned because of scamming people with unfair interest rates, data theft, and harassment. These fraudulent platforms often disguise themselves as legitimate lenders, only to exploit desperate borrowers.
So, which loan apps have been blacklisted, and why? Let’s dive into the details.
How to Identify Banned Loan Apps in Nigeria
With the increasing shut down on illegal lending platforms, knowing how to identify banned loan apps in Nigeria is crucial. Many of these apps continue to operate under different names or disguise themselves to evade detection. To avoid falling victim to fraudulent loan apps, watch out for these warning signs:
1. Check Regulatory Blacklists
Regulatory bodies like the Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank of Nigeria (CBN) regularly update lists of banned or unapproved loan apps. Always verify with these sources before using any loan app.
2. No Clear Contact Information
A legitimate loan app should have a website, office address, and customer support contacts. If an app lacks these details, it is likely fake.
3. Demands for ATM PIN, or Unnecessary Permissions
Fake loan apps may ask for sensitive personal information like your Bank Verification Number (BVN), ATM PIN, or excessive access to your phone data (contacts, messages, etc.). This can lead to fraud and identity theft.
4. Look for Play Store or App Store Removal
Many banned loan apps are removed from Google Play Store and Apple App Store. If an app you previously used is no longer available, it may have been blacklisted.
5. Assess Their Privacy Policies
Fraudulent loan apps often have suspicious privacy policies, such as accessing your contacts, messages, and personal data without proper consent. If an app requests excessive permissions, it’s a red flag.
6. Harassment and Blackmailing of Borrowers
Some fraudulent loan apps send threatening messages to borrowers and their contacts, accusing them of being criminals. If an app does this, it is not legitimate. One of the major reasons loan apps get banned is harassment. If users frequently report threats, public shaming, or intimidation from a loan app, it’s likely operating illegally. Check online reviews and complaints on consumer rights platforms.
7. Verify Registration Status
Legitimate loan apps must be licensed by the CBN or operate under approved financial institutions. If an app isn’t registered or lacks clear company details, it might be unauthorized.
8. Beware of Extreme Interest Rates
Many banned loan apps impose ridiculously high-interest rates and hidden charges. Always compare loan terms with regulated lenders to avoid falling into debt traps.
9. Lack of Proper Registration
Legit loan apps are usually registered with the Central Bank of Nigeria (CBN) and regulated by the Federal Competition and Consumer Protection Commission (FCCPC). Banned loan apps operate without official approval, making them risky.
By staying informed and cautious, you can avoid illegal loan apps and protect yourself from financial exploitation. If you suspect a loan app is operating illegally, report it to the FCCPC or relevant authorities.
List of Banned Loan Apps in Nigeria (Updated 2025)
On August 1, 2023, the commission requested Google to remove 37 loan apps that were operating without regulatory approval or violating the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022.
This move aims to protect Nigerians from fake loan apps known for harassment, high-interest rates, privacy violations, and unethical lending practices. Below is the list of banned loan apps in Nigeria and why they were delisted:
Several loan apps have been banned or delisted for violating consumer protection laws, charging excessive interest rates, or misusing users’ data. Let’s explore the latest list of banned and delisted loan apps in Nigeria, why they were blacklisted, and how to avoid illegal lending platforms.
1. WECREDIT – This loan app was banned for engaging in unethical debt collection practices, including harassment and invasion of users’ privacy.
2. HEN CREDIT LOAN APP – Known for misleading loan terms, this app was removed due to excessive interest rates and unauthorized deductions from users’ accounts.
3. CASH DOOR APP – The app was flagged for failing to comply with Nigerian financial regulations, including operating without a proper lending license.
4. JOY CASH – This app was delisted for engaging in fraudulent practices, such as false advertising about loan amounts and repayment conditions.
5. YOYI APP – YOYI APP was removed from digital lending platforms due to complaints about high-interest rates, poor customer service, and harassment of borrowers.
6. CASHMAMA – FCCPC banned this app for privacy violations, as it allegedly accessed and misused customers’ personal contacts to pressure them into repayment.
7. FLYPAY – FlyPay was delisted due to reports of unauthorized transactions, unfair lending conditions, and failure to disclose all loan charges transparently.
8. SPARK CREDIT – This app was banned for predatory lending practices, including charging borrowers excessive penalties for late repayments.
9. APEX LENDING – Apex Lending was found to be operating without regulatory approval and was accused of exploiting borrowers through hidden charges.
10. EASY CREDIT – Known for aggressive debt recovery tactics, Easy Credit was removed for breaching customer data protection laws.
11. WEALTH PAY – This app was flagged for making false loan promises, luring users with low-interest rates but later charging them exorbitant fees.
12. SPEEDY CHOICE – It was banned due to its unauthorized access to users’ personal information and its non-compliance with lending regulations.
13. FASHION CREDIT – Fashion Credit was removed for unethical loan recovery methods, including public shaming and harassment of borrowers.
14. GET CASH – This app was blacklisted due to hidden charges, excessive interest rates, and non-transparent lending policies.
15. CASH GO – Cash Go faced regulatory action for falsely advertising its loan services and imposing unreasonable repayment terms on borrowers.
16. FAST MONEY – The app was banned due to its failure to disclose loan conditions clearly, leading to deceptive lending practices.
17. EASY BUCK – Easy Buck was delisted for engaging in unethical loan recovery strategies and charging unfair penalties on borrowers.
18. CREDIT WAVE – This loan app was blacklisted for harassing borrowers, making unauthorized deductions, and failing to adhere to financial regulations.
19. YES CREDIT – FCCPC delisted this app for violating privacy rights and engaging in abusive loan collection tactics.
20. FAST LOAN – Fast Loan was delisted for misleading users with fake loan offers and failing to provide clear repayment schedules.
21. RELIANCE CREDIT – This app was banned for fraudulent activities, including unauthorized access to user contacts and charging hidden fees.
22. NAIJA CREDIT – It was removed from app stores due to misleading loan offers, excessive interest rates, and poor customer service.
23. TRUST LOAN – Trust Loan failed to comply with financial laws and was blacklisted for unethical business practices.
24. BEST LOAN – This app was removed for deceptive marketing, privacy breaches, and failure to obtain proper lending approval.
25. GO CREDIT – Banned for violating user privacy, sending threatening messages to borrowers, and engaging in predatory lending.
26. FLASH CREDIT – This app was delisted due to misleading loan terms, high-interest rates, and aggressive debt collection strategies.
27. EASY MONI – It was banned for failing to protect user data, overcharging borrowers, and using unethical recovery methods.
28. ZEN CREDIT – Zen Credit was flagged for violating privacy policies and failing to provide fair lending conditions.
29. BETTER LOAN – This loan app was removed due to customer complaints about unauthorized withdrawals and false loan advertisements.
30. CASH CONNECT – FCCPC banned this app for operating without proper licensing and engaging in misleading loan promotions.
31. FORTUNE CREDIT – This app was delisted due to high interest rates, poor customer service, and unethical debt recovery practices.
32. QUICK LOAN – Quick Loan was removed for deceptive lending practices, unclear terms, and unauthorized access to users’ financial data.
33. SUPER CASH – This app was banned for misrepresenting its loan offers and imposing high penalties on late payments.
34. ROYAL CREDIT – Royal Credit was delisted due to privacy violations and engaging in illegal debt collection activities.
35. NOBLE LOAN – FCCPC blacklisted this app for unethical financial practices, including false interest rate promises.
36. CASH SQUARE – This app faced regulatory action for harassing borrowers and failing to comply with lending regulations.
37. PEARL CREDIT – Pearl Credit was banned due to customer complaints about unfair charges and deceptive loan terms.
38. BLUE CREDIT – It was delisted for failing to obtain proper approval and misleading users with hidden fees.
39. GOLDEN LOAN – Golden Loan was removed for high-interest rates and non-transparent lending policies.
40. LUSH CREDIT – This app was blacklisted due to unauthorized deductions and failure to disclose loan terms clearly.
41. DIAMOND CASH – It was banned for violating privacy laws, charging excessive interest rates, and misleading borrowers.
42. BLESS CREDIT – Bless Credit was delisted for predatory lending, including sending threats to borrowers who delayed repayment.
43. LUCKY LOAN – This app faced regulatory action for misusing user data and applying unfair loan recovery tactics.
44. PRIME CREDIT – Prime Credit was removed for overcharging users and engaging in illegal debt collection practices.
45. GREEN LOAN – This app was banned for deceptive advertisements and failing to comply with loan regulations.
46. SECURE CREDIT – Secure Credit was delisted for unethical loan practices, including false loan promises and high penalties.
47. SWIFT CASH – The app was blacklisted for engaging in aggressive debt collection and violating consumer protection laws.
The above loan apps have been removed from Google Play Store due to non-compliance with FCCPC regulations
The Federal Competition and Consumer Protection Commission (FCCPC) took action against several loan apps due to their unethical and illegal practices. These platforms were delisted for violating consumer rights and financial regulations, putting borrowers at risk. Some of the key reasons include:
Operating without CBN or FCCPC approval – Many of these loan apps were not licensed or registered with the appropriate regulatory bodies, making them illegal financial operators.
Excessive interest rates and hidden charges – Borrowers often faced exorbitant interest rates, additional undisclosed fees, and unfavorable repayment terms.
Accessing users’ contacts and sending harassing messages – Some loan apps illegally accessed customers’ phone contacts and sent threatening messages to family and friends.
Failure to comply with data privacy regulations – Many of these apps mishandled users’ personal information, violating privacy laws.
Threatening borrowers and defaming them publicly – Instead of following legal debt recovery processes, these apps resorted to intimidation, blackmail, and public shaming of borrowers.
To protect consumers, the FCCPC, in collaboration with other regulatory agencies, continues to monitor and take action against loan apps that engage in these exploitative practices.
Other Fake Loan Apps
Aside from the officially banned and delisted loan apps, many other fake loan apps continue to operate under new names or disguise themselves as legitimate platforms. These fraudulent apps often lure unsuspecting borrowers with promises of instant loans, no collateral, and low-interest rates, only to exploit them with hidden fees, data breaches, and harassment.
1. KashKash
Known for excessive interest rates and harassment of borrowers.
Users report that the app accesses contacts and threatens people.
2. GoCash
Fraudulent practices include hidden charges and unauthorized withdrawals.
Operates without CBN approval.
3. Sokoloan
Blacklisted by the FCCPC for data privacy violations.
Sends defamatory messages to borrowers and their families.
4. LCredit
One of the most notorious fake loan apps in Nigeria.
Known for blackmailing borrowers by calling their contacts.
5. 9ja Cash
Lacks proper licensing and charges extremely high-interest rates.
Many users complain of harassment and privacy breaches.
6. EasyMoni
Reports of fraudulent activities and failure to disburse loans after fees are paid.
Operates under different names to avoid detection.
7. Xcrosscash
Frequently changes its name to avoid being blacklisted.
Sends fake legal threats to borrowers.
8. SoftPay
Poor customer service, unauthorized debits, and false loan approvals.
Many more fraudulent apps exist, and new ones emerge regularly, before borrowing money from any loan app, always verify its registration status with the CBN or FCCPC, check user reviews, and be cautious of apps that demand excessive personal information.
Many Nigerians have fallen victim to fraudulent loan apps, suffering financial and emotional distress. These scams often exploit desperate borrowers by using deceptive tactics and unethical practices. Some of the most common experiences reported include:
Unauthorized deductions – Some loan apps continue withdrawing money from users’ bank accounts even after full repayment.
Threatening calls and messages – Borrowers and their contacts receive harassment, threats, and public defamation from aggressive debt recovery agents.
Personal data leaks – Fraudulent loan apps misuse users’ personal details, leading to identity theft and other cybercrimes.
Fake loan approvals – Scammers trick users into paying a “processing fee” for a loan that is never disbursed.
These fraudulent practices not only lead to financial loss but also cause emotional distress and reputational damage. To avoid falling victim, borrowers should only use registered and regulated lending platforms while staying cautious of apps with poor user reviews and questionable terms
How to Protect Yourself from Fake Loan Apps in Nigeria
With the increasing number of banned loan apps in Nigeria in 2025, it’s crucial to know how to avoid fraudulent lending platforms. Scammers use fake loan apps to exploit unsuspecting borrowers, leading to financial loss and data breaches. Follow these safety tips to protect yourself:
Verify CBN & FCCPC Approval – Always check if a loan app is licensed by the Central Bank of Nigeria (CBN) or approved by the Federal Competition and Consumer Protection Commission (FCCPC) to ensure it is not on the list of banned loan apps in Nigeria in 2025.
Read Reviews & Complaints – Before downloading any loan app, search for it on Google Play Store, Apple App Store, and consumer review platforms to check for fraud reports. Many delisted loan apps have negative reviews about harassment and unfair charges.
Avoid Apps Asking for Sensitive Data – Fraudulent loan apps often request your Bank Verification Number (BVN), ATM PIN, or access to your contacts and messages. If an app demands excessive permissions, it could be on the list of fake loan apps in Nigeria.
Do Not Click Suspicious Links – Many delisted and fake loan apps spread through WhatsApp, Telegram, and social media scam links. Always download financial apps from official app stores.
Borrow Only from Trusted Platforms – Stick to well-known and regulated lenders such as Carbon, FairMoney, and Branch, which comply with Nigerian financial regulations and offer transparent loan terms.
By staying informed about the list of banned and delisted loan apps in Nigeria in 2025, you can avoid scams and protect yourself from financial fraud.
What to Do If You’ve Been Scammed by a Fake Loan App in Nigeria
If you have fallen victim to a banned or fake loan app in Nigeria in 2025, act quickly to minimize the damage. Follow these steps immediately:
Report to the FCCPC – File a complaint through the Federal Competition and Consumer Protection Commission (FCCPC) website or contact their customer service. This helps authorities track and take action against delisted loan apps in Nigeria.
Inform Your Bank – Request a BVN watchlist update to prevent unauthorized transactions. Many fake loan apps in Nigeria misuse personal banking details for fraudulent deductions.
Leave Reviews Online – Warn others by sharing your experience on Google Play Store, Apple App Store, and social media. Raising awareness can prevent others from falling for scam loan apps in Nigeria.
Report to the Police – If you receive threats, blackmail, or harassment from loan recovery agents, report the issue to law enforcement. Authorities can investigate and take action against these illegal operators.
By taking these steps, you not only protect yourself but also help in the fight against fraudulent and banned loan apps in Nigeria in 2025.
FAQs About Banned Loan Apps in Nigeria in 2025
With the increasing crackdown on fraudulent and unlicensed loan apps, many Nigerians have questions about how to identify, avoid, and respond to these illegal platforms. Whether you’re wondering how to check if a loan app is banned, what legal actions have been taken, or how to protect yourself from scams, this FAQ section provides the answers you need.
1. How do I know if a loan app is banned?
Banned loan apps often lack CBN approval, charge hidden fees, request unnecessary permissions, and harass borrowers. Always check the list of banned loan apps in Nigeria in 2025 before borrowing.
2. Are there legal actions against fake loan apps in Nigeria?
Yes, the FCCPC has blacklisted and shut down several delisted loan apps in Nigeria. However, scammers frequently create new ones, so staying vigilant is essential.
3. Can banned loan apps withdraw money from my account?
Yes, if you share your ATM details or BVN, fraudulent apps may make unauthorized deductions. Never provide such sensitive information to any fake loan app in Nigeria.
4. What should I do if a fake loan app harasses me?
Report the app to the FCCPC and Google Play Store.
Block their contacts and inform your friends/family to avoid similar scams.
File a police report if you receive threats or blackmail.
5. Which loan apps in Nigeria are safe?
Legitimate and CBN-approved loan apps in Nigeria include:
Before borrowing, always verify the registration and approval status of any loan app to avoid falling victim to delisted and fraudulent loan apps in Nigeria.
Conclusion
The rise of banned and delisted loan apps in Nigeria in 2025 highlights the need for borrowers to stay vigilant. While digital lending has made financial access easier, many fraudulent loan apps continue to exploit unsuspecting users. By verifying loan app approvals, reading reviews, and avoiding apps that demand excessive permissions, you can protect yourself from scams.
For more updates on banned loan apps, financial tips, and business insights, always visit our blog Tradetest.ng. Don’t forget to share this information with your friends and family to help them stay safe from fraudulent loan apps!
1 thought on “List of Banned Loan Apps in Nigeria in 2025”
Adeyemo Nurudeen
If a loan app is using a different bank name from it company name, can we consider it as scammer?? As in if they ask customer to send money to a account that doesn’t carry their company name.
If a loan app is using a different bank name from it company name, can we consider it as scammer?? As in if they ask customer to send money to a account that doesn’t carry their company name.