🇳🇬 Instant Online Loan Apps in Nigeria for Android, iPhone & USSD

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Features Of Loan Apps In Nigeria

a) Qualification – refers to the general conditions that have to be met before one can actually proceed with the registration process. Such conditions may include; citizenship,age, income source, identity verification documents, proof of income etc

b) Registration – refers to submission of information regarding personal, employment, next of kin etc as well as submission of various verification documents in order to create an account and access loans. Such information includes name, date of birth, phone number, address, BVN number etc

c) Application – This can be done upon successful account creation and activation and can be achieved via different platforms including online, loan apps or ussd.

d) Loan Limit – refers to the minimum and maximum loan amounts available to a particular individual upon successful loan approvals and are usually dependent upon a variety of factors.

e) Loan Interest Rate – refers to a proportion of the principal that a lender charges a borrower which usually contributes to the overall repayment amount. Interest rates may be fixed interest or dynamic depending on loan amount as well as repayment duration.

f) Loan Duration – refers to the period between loan disbursement and repayment and may vary depending on loan amount whereby larger loan amounts tend to have longer repayment periods and vice versa.

g) Repayment – involves returning money previously borrowed from a lender albeit with interest. There exist several repayment options offered by various lenders such as direct debits, bank transfers or in-app repayment features.

h) Default Penalties – refers to the negative consequences arising from late/failure to meet loan due dates. They can range from debt shaming, additional charges or blacklisting to credit bureaus.

Who Regulates Loan Apps In Nigeria

Loan Apps in Nigeria are regulated by the Federal Competition & Consumer Protection Commission (FCCPC) whose functions are;

i) Promote competitive markets through monitoring market practices by businesses in order to prevent dominance/monopolies.

ii) Regulate mergers through strategic approvals/disbandment in regards to their effects on the overall market efficiency.

iii) Handle customer complaints in relation to service delivery by the various service providers.

iv) Provide quality assurance & development to consumers by ensuring only safe and quality products penetrate the market

v) Provide consumer and business education on consumer rights as well as business obligations to competition and consumer protection.

vi) Share information related to performance of its functions such as news releases, advisories, alerts etc

vii) Ensure effective service provision through research on consumer behavior/ market trend to aid in planning and development of strategies beneficial in achievement of its overall mandate.

viii) Ensure adherence to all relevant laws pertaining to competition and consumer protection by all market players.

Loan Apps Approved By FCCPC In Nigeria

Owing to public outcry regarding the negative business practices employed by some rogue digital lenders in Nigeria, FCCPC has implemented a regulatory framework and guidelines for all digital lenders to abide by.

Consequently, this move has necessitated fresh registration of all lenders upon which lenders who meet the requirements will be allowed to continue with operations.

Below is a list of Nigerian loan apps approved by the FCCPC.

Full Approval
A1 Capital Solution LtdMenacred Company Ltd
Acetech Finance LtdMim Finance Company
Aella Financial Solutions LtdMino Sparks Ltd
Afrofirst Mobile And Technology Company LtdMoblaspay Company Ltd
Afrosay Fintech LtdNeo-Link Technology Company Ltd
Afrowide Development LtdNew Credage Nigeria Ltd
Altracred Finance Investment LtdNewedge Finance Ltd
Apex Lending LtdNextpayday Ltd
Applink Capital Nigeria LtdNiz Services Ltd
Arve LtdOmalend Service Ltd
Be Resources LtdOrange Loan & Purple Credit Ltd
Berly Spring Global LtdOrcom And Orcom Business Support Ltd
Bestfin Nigeria LtdOtp Internet Technology Ltd
Betterlending Company LtdOxymon Solution Ltd
Blackcopper Service LtdP2Vest Technology Ltd
Blue Ridge Microfinance Bank LtdPapichou Technology Ltd
Branch International Financial Services LtdPasseco Technology Nig. Ltd
Carbon Microfinance Bank LtdPay Financial Technology Service Ltd
Clemo Fresh Co. LtdPaycredit Ltd
Cornerblock Services LtdPayhippo Ltd.
Creditclan Tech LtdPaylater Hub Ltd
Creditech Lending CompanyPenaid Ltd
Creditville Microfinance Bank LtdPennee Technologies Ltd
Creditwave Finance LtdPhoenix Payment Solution Ltd
Crevance Credit LtdPiska Tech Nigeria Ltd
Crossroads E-Payment Systems LtdPivo Technology Limied
Csense LtdPockful Finance Ltd
Dot Microfinance Bank LtdPrimera Microfinance Bank
Dover Credit LtdPrincep Credit System Ltd
Easycheck Finance Investment LtdProsperity Archipelago Ltd
Econ Mart Fintech LtdProvest Ltd
Edmond Solutions Company LtdQuark Financials Nigeria Ltd
Eric Vsta LtdRaceova Nig. Ltd
Fairmoney Micro Finance BankRagekay Global Investment Ltd
Fast-Point Intergrated LtdRankcapital Ltd
Fezotech Nigeria LtdRed Harbor Fintech Ltd
Fineset LtdRed Planet Nigeria Ltd
Finnew Fintech LtdRegxta Global Service Ltd
Fintcred Innovation LtdRenmoney Microfinance Bank Ltd
Flo Wood LendingRock Financials Ltd
Fluna Capital LtdRockit Lenders Nigeria Ltd
Fubri Century Company LtdRubystar Global Ltd
Fundshome LtdSingularity Technology Nigeria Ltd
Giasun Technology Nigeria LtdSkitloan Nigeria Ltd
Glosh Tech LtdSupreme Help Cooperative Society Ltd
Goharvest International LtdSwipebill Technologies Nigeria Ltd
Grolatech Credit LtdSycamore Integrated Solutions Ltd
Highcredit Nigeria LtdTa Prime Ltd
Hollandale Nigeria LtdTajow Investment
Hometown Fintech LtdTed Rocket Ltd
Ibs Golden Investment Company LtdTrade Depot
Irorun Technologies LtdTrade Lenda Com Ltd
Jm Rubinus LtdTrafalgar Associate Ltd
Keenest Tech Service LtdTrust Cen Ltd
Kiowope Capital LtdUcplus Advance Ltd
Kiredi Rock Company LtdUgt Technologies Ltd
Lantana Technology LtdUni Technology Nigeria Ltd
Lendvisery Services LtdValue Driver Technology Solution Ltd
Letshego Microfinance Bank LtdVeendhq Ltd
Liberty Assured LtdWindville Financial Nigeria Ltd
Linkpark Technology Nigeria LtdXgo Finance Ltd
Mangnet Lending LtdYegon Tech Ltd
Maven Finance LtdYes Credit Company Ltd
Maywood Lending Ltd
Conditional Approval
Ajax Lending LtdMuska Tech Ltd
Allawee Technologies LtdNolt Finance Ltd
Atimi Lending LtdOlivermead Investment Ltd
Caelum Technologies LtdOne Payout Ltd
Citadele Capitals LtdOwoafara Fintech Service
Citygate Global Investment LtdPaydayhub Online Nigeria Ltd
Creditpro Business Support Services LtdPebble Financial Tech. Ltd
Dash InnovationsPrime Avis Investment Services Ltd
Doja Lemaire Global LtdRenners Investment Ltd
Eaton Hill Investment LtdRetail Booster Ltd
Fewchore Finance Company LtdRiverbank Partners Ltd
Finpadi Technologies LtdRiverbrand Technology Ltd
Fintrade Solutions LtdRockshield Microfinance
Grit-Tech LtdSoko Lending Ltd
Helppo Africa LtdStellar Finance Ltd
Hoil Investment Ltd.The Platform Digital Network Ltd
Kiakia Bits LtdTripodbase Ltd
Kwaba International LtdTrivista Capital Ltd
Lendha Technologies LtdU Technology
Lending Edge LtdU Thinking Nigeria Ltd
Lidya Global LtdUmba Digital Solutions Ltd
Lighting Finance Technology Nigeria LtdWealthbridge Capital Partners Ltd
Lucred Technology LtdZippy Capital Ltd
Meno Finance LtdZuvy Technologies Ltd
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Types Of Loan Apps In Nigeria

There exist various options with which Nigerians can apply for instant loans depending on the platform provided by the digital lenders which are;

Online loans

These are web portals that allow loan registration and application without necessarily having app installations.

Online Loans In Nigeria

The whole process may entail;

1. Navigating to the lender’s online portal
2. Creating an account by providing all the required details
3. Uploading any required verification documents
4. Making the loan application
5. Submitting bank details and uploading the relevant financial documents such as bank statements
6. Waiting for credit assessment to determine loan approval/decline
7. Loan disbursement

Legit Online (Web-based) Loan Apps In Nigeria

Note: This list contains legit online loan apps in Nigeria derived from the list of digital lenders approved by the FCCPC

Lender Name Web-App Name Weblink
Irorun Technologies Ltd
Letshego Microfinance Bank Ltd
Mim Finance Company
Oxymon Solution Ltd
Paycredit Ltd
Payhippo Ltd
Paylater Hub Ltd
Penaid Ltd
Student loan
Pension loan
Pivo Technology Ltd
Pivo Africa
Primera Microfinance Bank
Princep Credit System Ltd
Provest Ltd
Renmoney Microfinance Bank Ltd

Loan Apps

These are apps sourced from either Playstore/Appstore that require installation before loan applications can be made

Loan Apps In Nigeria

The process entails;

1. Downloading loan app from Playstore/Appstore
2. Installing, launching and creating an account within the loan app
3. Granting the loan app permission access to various phone functions
4. Making loan application
5. Waiting for loan approval and subsequent loan disbursement

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Legit Loan Apps In Nigeria For iPhone Users

Over the years, the iOS platform has been regarded as being the most secure platform compared to android in regards to malware largely due to its strict policy on app placements within its Appstore.

Consequently, most developers who do not meet said requirements thus opt for the Playstore due to their more lenient policies and as such, more apps tend to be available to android users than iOS users.

Similarly, this issue is also prevalent in Nigeria when it comes to loan apps for iPhone users. Fortunately, there are a few digital lenders who cater to this small percentage and they include;

Note: This list contains legit iPhone loan apps in Nigeria derived from the list of digital lenders approved by the FCCPC

Lender Name App Name Appstore link
Aella Financial Solutions Ltd
Aella Credit
Appstore link
BlackCopper Service Ltd
Appstore link
Carbon Microfinance Bank Ltd
Appstore link
Irorun Technologies Ltd
Appstore link
Menacred Company Ltd
Appstore link
P2Vest Technology Ltd
Appstore link
Pennee Technologies Ltd
Appstore link
Pivo Technology Ltd
Pivo Africa
Appstore link
Yes Credit Ltd
Appstore link

Legit Loan Apps In Nigeria For Android Users

With majority of Nigerians owning android smartphones, digital lenders find it easy to develop android loan apps in Nigeria as compared to iPhone apps.

However, there are hundreds of fraudulent loan apps available in the Playstore thereby making it hard for Nigerians to identify the legit ones. Fortunately, there are several trustworthy loan apps in Nigeria as summarized by the list below.

Note: This list contains legit android loan apps in Nigeria derived from the list of digital lenders approved by the FCCPC

Lender Name App Name Playstore link
Aella Financial Solutions Ltd
Playstore link
Blackcopper Service Ltd
Playstore link
Blue Ridge Microfinance Bank Ltd
Playstore link
Branch International Financial Services Ltd
Playstore link
Carbon Microfinance Bank Ltd
Playstore link
Fairmoney Micro Finance Bank
Playstore link
Giasun Technology Nigeria Ltd
Playstore link
Grolatech Credit Ltd
Playstore link
Irorun Technologies Ltd
Playstore link
Keenest Tech Service Ltd
Playstore link
Kiowope Capital Ltd
Playstore link
Menacred Company Ltd
Playstore link
Moblaspay Company Ltd
Playstore link
Newedge Finance Ltd
Playstore link
Otp Internet Technology Ltd
Playstore link
P2Vest Technology Ltd
Playstore link
Paycredit Ltd
Playstore link
Paylater Hub Ltd
Paylater Hub
Playstore link
Pennee Technologies Ltd
Playstore link
Pivo Technology Ltd
Pivo Africa
Playstore link
Prosperity Archipelago Ltd
Go Cash
Playstore link
Renmoney Microfinance Bank
Playstore link
Yes Credit Company Ltd
Playstore link
*Blue Ridge Microfinance Bank Ltd
Playstore link
*Otp Internet Technology Ltd
Playstore link
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USSD Loans

A ussd code is a simplified command attached to perform a specified function by a service provider. Typically, ussd codes neither require installations on the user’s end nor internet access for full functionality.

In-fact, Nigerian ussd loan providers only require registration and service activation in-order for users to access said loans.

Some of the ussd loan code registration requirements for Nigerians include;

Being a Nigerian citizen with an active subscription to any of the Nigerian mobile network providers as well as possessing a BVN.

Loan Apps With USSD Codes In Nigeria

Upon meeting the above, one can then identify a Nigerian ussd loan code provider from the list provided below and proceed with loan application.

LenderUssd Code
AB Microfinance bank*389*755#
Access bank*901*11#
Accion Microfinance Bank*572*6#
Airtel Quick Cash*561#
ALAT by Wema Bank*945*100
Aledin Nano*903#
Diamond Access Loan code*901*11#
Diamond Bank Loan code*710*11#
Diamond Bank transfer code*426#
Ecobank Xpress*326#
Fidelity Bank transfer code*770#
First Bank Loan code*894#
Glo Cash*322*1*04225701*Amt#
GTBank Soft Loan (QuickCredit)*737*51*51#
Heritage Bank Loan code*322#
Interswitch ussd code*322#
Jaiz bank transfer code*773#
Keystone Bank Loan code*533#
Mtn cash ussd code (loan)*606*4#
Paga loan code*242#
Polaris bank Transfer Code*833#
Quickteller – Airtel, MTN & 9mobile*322#
Quickteller – Glo Users*805#
Skye Bank transfer code*833#
Stanbic IBTC transfer code*909#
Standard Chartered transfer code*120#
Sterling Bank Loan code*822#
Trader Moni*540#
uba bank loan code*919*28#
Union Bank transfer code*826#
Unity Bank*7799#
Verve ECash –*322*60#
Wema Bank Loan code*945#
Zenith bank ussd loan code*966*11#

Loan Apps Without BVN In Nigeria

A Bank Verification Number commonly referred to as BVN, is a tool used to specifically confirm a customer’s identity to a banking institution thus reducing fraud, enhancing banking efficiencies in addition to allowing future credit opportunities to customers.

Acquiring a BVN can be as simple as enrolling at any Nigerian bank of choice and submitting your biometrics after which the BVN will be ready for use within 24 hours.

The generated BVN will eventually remain the same and active for a period of ten (10) years irrespective of whether you update banking records or switch banks.

However upon the lapse of the validity period, one is required to repeat the enrollment process.

While the BVN is mandatory for all Nigerian banks when applying for loans, the same cannot be said for a section of digital lenders whereby it is not a prerequisite. Some of the loan apps without BVN include;

Loan Apps Without ATM Card Binding In Nigeria

An ATM Card is a bank issued card linked to one’s bank account that ultimately enhances ease of payments and transactions such as deposits and withdrawals.

In addition, ATM cards also act as verification tools which can also be used to set up direct debits to one’s account.

As such, most digital lenders in Nigeria place it as a requirement for any loan applications.

However, due to rampant cases of unauthorized money withdrawals by unscrupulous digital lenders, majority of Nigerians opts for loan apps that do not require binding of ATM cards and they include;


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4 Responses

  1. June 17, 2023

    […] See also: Get Instant Cash: Top 90 Legit Loan Apps in Nigeria for Android, iPhone, USSD and Online […]

  2. June 18, 2023

    […] TLoan app developed by Giasun Technology Limited is among the digital loan apps in Nigeria available in the playstore as well as among the digital lending apps approved by FCCPC […]

  3. June 18, 2023

    […] a product of Grola Tech Credit Limited and is among the digital loan apps in Nigeria that have been approved by the FCCPC. TrueNaira has 1M+ downloads and 7.19K+ reviews and 3.2/5 star rating since its release date into […]

  4. July 20, 2023

    […] See also: Get Instant Cash: Top 90 Legit Loan Apps in Nigeria for Android, iPhone, USSD and Online […]

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