List of Fake Loan Companies Blacklisted by CBN

The Central Bank of Nigeria (CBN) has blacklisted some fake loan apps, which the Federal Government (FG) has delisted due to their illegal nature.

These unauthorized loan apps pose a significant threat to society and have been banned as they are not registered with the federal government.


Victims of these fake loan companies often experience serious harassment.

To safeguard against falling prey to fake loan apps, exercise caution and research thoroughly before downloading any lending apps.


In this article are some legitimate checks to consider before using the lending app plus we’ll list 15 15 List of Fake Loan Companies Blacklisted by CBN.

Risks of Working With Fake Loan Companies 

Using fake loan Company apps poses multiple risks, foremost among them is the potential for identity theft. These apps often request personal and financial details, such as names, addresses, social security numbers, and bank account information.

List of Fake Loan Companies


This sensitive data can be exploited by fake app creators or sold to third parties, resulting in financial loss and potential harm to credit scores.

There’s also a risk of fraudulent activities, as fake loan apps may promise swift approvals without proper background checks. This can lead individuals to borrow from illegitimate sources, plunging them into a debt cycle with high-interest rates and hidden fees.

Fake loan apps might seek unnecessary permissions on smartphones, such as access to contacts, messages, or even the camera and microphone. Granting these permissions compromises privacy and security, enabling app creators to collect sensitive information without user knowledge or consent.


Signs to Identify Fake Loan Company Apps with

Identify Fake loan companies by paying attention to the following signs:

#1. Lack of Proper Licensing and Registration:

Legitimate loan apps must be registered with regulatory authorities like the Central Bank of Nigeria (CBN). If an app lacks information about licensing or registration, it may not be a legitimate lender.

#2. Absence of a Physical Address:

Legitimate providers usually have a physical office or valid contact address. If an app only provides a virtual address or none at all, it may be a fake loan app.

#3. Poor User Reviews and Ratings:

Fake loan apps often have negative reviews or complaints about legitimacy or unethical practices. Checking reviews and ratings from other users is crucial before using an app.

#4. Transparent & Terms and Conditions:

Legitimate loan apps have clear terms, while fake ones may have vague or confusing conditions. Carefully reviewing and understanding terms is essential; unclear or too-good-to-be-true terms may signal a fake loan app.

#5. Request of Excessive Permissions: 

Fake loan apps may ask for unnecessary permissions, such as access to your camera or personal files. Legitimate apps typically request basic permissions related to contact information or identity verification. Excessive requests may indicate an untrustworthy app.

List of Fake Loan Companies Blacklisted by CBN in Nigeria 2024

Amongst several hundred are the following flagged loan company apps to avoid:

  • EasyCredit
  • EasiMon
  • KashKash
  • Speedy Choice
  • GoCash
  • Soko Loan App
  • Fast Money
  • GetCash
  • Icoin Loan
  • Naira Plus
  • 9jaCash
  • LionCash
  • GMoney
  • Fast Money
  • 9credit
  • Swiftkash App
  • Hen Credit Loan App
  • Cash Door App
  • Joy Cash-Loan 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
  • Eagle Cash
  • Firstnell App
  • Flypay
  • Spark Credit
  • Luckyloan Personal Loan App


#1. How does the Central Bank of Nigeria (CBN) trace fake loan companies?

The Central Bank of Nigeria (CBN) deploys several methods to identify and blacklist fake loan apps. A primary approach involves a comprehensive investigation and monitoring process. CBN closely observes the activities of loan apps, scrutinizing their operations to detect any involvement in fraudulent practices or violations of regulations.

#2. What are the legit loan apps in Nigeria?

Here are the top 5 legit loan apps in Nigeria:

#3. What actions should be taken against fake loan companies?

Victims of fake loan apps have legal recourse to seek justice through different avenues.

Filing complaints with law enforcement agencies like the police or the Economic and Financial Crimes Commission (EFCC) is a crucial step.

Providing evidence of victimization, including screenshots of conversations, loan agreements, and relevant documents, strengthens the case and enhances the likelihood of obtaining justice.


Fake loan apps often pretend to be legitimate lenders, luring users with enticing loan terms and straightforward application processes.

Despite this facade, their primary goal is to gather personal and financial information from users. This collected data can then be exploited for identity theft or other fraudulent activities.

It’s important that users remain vigilant and verify the legitimacy of loan apps to protect their sensitive information.


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