List of Delisted Loan Apps in Nigeria in 2025

The list of delisted loan apps in Nigeria 2025 includes digital lending platforms that have been banned, blacklisted, or declared illegal by the FCCPC and other financial regulators. These loan apps were removed due to unethical practices such as excessive interest rates, data privacy violations, and harassment of borrowers. As the Nigerian government continues to crack down on predatory lending, more unlicensed loan apps are being shut down to protect consumers.

If you’re looking for a comprehensive list of banned loan apps in Nigeria, this guide provides the latest updates. Knowing which illegal loan apps to avoid can help you borrow safely from legitimate and regulated lenders, ensuring your financial security and privacy are not compromised.

 Here's a Quick Glance

• Delisted loan apps meaning
• Complete List of Delisted Loan Apps in Nigeria
• List of loan apps delisted by FCCPC
• How to Identify Fake or Delisted loan apps in Nigeria
• How to Check If a Loan App Is Delisted?
• Reasons Why Loan Apps Get Delisted in Nigeria
• Alternative Legitimate Loan Apps in Nigeria

List of Delisted Loan Apps in Nigeria in 2025

Here is the updated list of banned loan apps in Nigeria, along with removal reasons and dates.

Loan App Name	Reason for Delisting	Date Removed
Swiftkash	Operating without CBN license	August 2023
Hen Credit Loan	Unethical debt collection & harassment	August 2023
Cash Door	High-interest rates & hidden charges	August 2023
Joy Cash	Unauthorized access to user data	June 2024
Eaglecash	Fraudulent lending activities	July 2024
Luckyloan	Unauthorized debit transactions	August 2024
Getloan	Violating Play Store policies	September 2024
Cashmama	Privacy violations and misuse of customers' personal contacts	August 2023
Flypay	High-interest rates & hidden charges	May 2024
Spark Credit	Unauthorized access to user data	June 2024
Naira Naija	Fraudulent lending activities	July 2024
Cashlawn App	Unauthorized debit transactions	August 2024
Easynaira App	Violating Play Store policies	September 2024
Crediting App	Unethical debt collection & harassment	April 2024
Nut Loan App	High-interest rates & hidden charges	May 2024
Cashpal App	Unauthorized access to user data	June 2024
Nairaeasy Gist Loan App	Fraudulent lending activities	July 2024
Camelloan App	Unauthorized debit transactions	August 2024
Nairaloan App	Misleading loan offers and excessive interest rates	September 2024
Moneytreefinance	Unethical debt collection & harassment	April 2024
Cashme App	High-interest rates & hidden charges	May 2024
Secucash App	Unauthorized access to user data	June 2024
Blue Credit	Fraudulent lending activities	July 2024
Golden loan	Unauthorized debit transactions	August 2024
Lush credit	Violating Play Store policies	September 2024
Diamond cash	Unethical debt collection & harassment	April 2024
Bless credit	High-interest rates & hidden charges	May 2024
Prime credit	Unauthorized access to user data	June 2024
Zuma cash	Fraudulent lending activities	July 2024
Green loan	Unauthorized debit transactions	August 2024
Spark credit	Violating Play Store policies	September 2024
Easy credit	High-interest rates & hidden charges	May 2024
Apex lending	Unauthorized access to user data	June 2024
Wealth Pay	Fraudulent lending activities	July 2024
Speedy choice	Unauthorized debit transactions	August 2023
Fashion credit	Violating Play Store policies	September 2024
Get Cash	High-interest rates & hidden charges	May 2024
Cash Go	Unauthorized access to user data	June 2024
Fast Money	Fraudulent lending activities	July 2024
Easy Buck	Unauthorized debit transactions	August 2024
Reliance Credit	Violating Play Store policies	August 2023

Note: The delisting dates are based on the Federal Competition and Consumer Protection Commission's (FCCPC) actions as reported on August 1, 2023.

The reasons for delisting are summarized based on common issues cited by the FCCPC, such as misleading loan terms, unauthorized deductions, privacy violations, and operating without proper licensing.​ For more detailed information, you can refer to the FCCPC's official announcements and reports.​

List of Loan Apps Delisted by FCCPC

The rise of digital lending in Nigeria has provided quick financial solutions, but some loan apps have engaged in unethical practices, leading to their removal by regulatory authorities. Issues such as privacy violations, predatory lending, and deceptive loan terms have resulted in their blacklisting for failing to comply with financial regulations.

Here is a complete list of loan apps delisted by the FCCPC and the reasons behind their removal:

WeCredit – Blacklisted for harassment and privacy invasion in debt collection.

Hen Credit Loan App – Removed for misleading loan terms, high interest rates, and unauthorized deductions.

Cash Door App – Delisted for operating without a proper lending license.

Joy Cash – Flagged for false loan advertisements and unclear repayment conditions.

Yoyi App – Removed due to high-interest rates, poor customer service, and borrower harassment.

Cashmama – Banned for accessing and misusing users' contacts for repayment pressure.

FlyPay – Delisted due to unauthorized transactions and unfair lending conditions.

Spark Credit – Blacklisted for predatory lending and excessive penalties on late payments.

Apex Lending – Removed for operating without regulatory approval and misleading borrowers.

Easy Credit – Banned for aggressive debt recovery tactics and breaching data protection laws.

Wealth Pay – Flagged for false loan promises and hidden high-interest rates.

Speedy Choice – Blacklisted for unauthorized access to users’ personal data.

Fashion Credit – Removed for harassing borrowers and unethical loan recovery methods.

Get Cash – Delisted for hidden charges and excessive interest rates.

Cash Go – Banned for false advertising and unreasonable repayment terms.

Fast Money – Removed for unclear loan conditions and deceptive lending.

Easy Buck – Blacklisted for unfair penalties on borrowers.

Credit Wave – Delisted due to unauthorized deductions and borrower harassment.

Yes Credit – Banned for privacy violations and abusive collection tactics.

Fast Loan – Blacklisted for misleading users with fake loan offers.

Reliance Credit – Banned for fraudulent activities and unauthorized access to user contacts.

Naija Credit – Delisted for misleading loan offers and poor customer service.

Trust Loan – Removed for unethical business practices.

Best Loan – Flagged for deceptive marketing and privacy breaches.

Go Credit – Banned for sending threats to borrowers and predatory lending.

Flash Credit – Removed for high-interest rates and aggressive collection.

Easy Moni – Blacklisted for data privacy violations and excessive charges.

Zen Credit – Delisted for privacy policy violations and unfair lending conditions.

Better Loan – Removed for unauthorized withdrawals and false advertisements.

Cash Connect – Banned for operating without proper licensing.

Fortune Credit – Blacklisted for high-interest rates and unethical recovery practices.

Quick Loan – Removed for unclear loan terms and unauthorized access to users’ data.

Super Cash – Banned for misleading loan offers and high penalties.

Royal Credit – Delisted for illegal debt collection practices.

Noble Loan – Blacklisted for false interest rate promises.

Cash Square – Flagged for harassing borrowers and failing to comply with regulations.

Pearl Credit – Removed due to unfair charges and deceptive terms.

Blue Credit – Delisted for hidden fees and lack of proper approval.

Golden Loan – Removed for high-interest rates and non-transparent policies.

Lush Credit – Banned for unauthorized deductions and unclear loan terms.

Diamond Cash – Blacklisted for privacy violations and excessive interest rates.

Bless Credit – Delisted for sending threats to borrowers.

Lucky Loan – Banned for misusing user data and unfair recovery tactics.

Prime Credit – Removed for overcharging users and illegal collection methods.

Green Loan – Banned for deceptive advertisements.

Secure Credit – Delisted for false loan promises and high penalties.

Swift Cash – Blacklisted for aggressive debt collection and consumer protection violations.

These delisted loan apps in Nigeria were removed from the Google Play Store due to non-compliance with FCCPC regulations. Borrowers are advised to verify the legitimacy of any loan app before applying to avoid fraudulent or exploitative lending practices.

Loan Apps in Nigeria at a Glance

Loan apps have become a popular way for Nigerians to access quick and easy credit, helping individuals and small businesses cover urgent financial needs. With just a smartphone and minimal documentation, borrowers can receive instant loans within minutes. However, not all loan apps operate legally, and some have been flagged for unfair practices.

Regulatory bodies like the Central Bank of Nigeria (CBN) and the Federal Government (FG) have taken steps to regulate digital lending, leading to the removal of several delisted loan apps. Many Nigerians now ask, which loan apps are not licensed by CBN? 

Some platforms operate without approval, charge excessive interest rates, or use unethical debt recovery tactics. Issues like unauthorized deductions and harassment have also raised concerns, prompting users to seek CBN-approved loan apps and ask how to report an illegal loan app in Nigeria.

In this article, we’ll explore the latest list of delisted loan apps in Nigeria, why they were removed, which loan apps FG shut down, and how to identify safe alternatives for borrowing. Understanding these details can help you make informed financial decisions and avoid fraudulent lenders.

SEE ALSO: How to borrow money from OPAY

What Does "Delisted Loan Apps" Mean?

The term delisted loan apps refers to digital lending platforms that have been removed from official marketplaces like the Google Play Store and Apple App Store or banned by regulatory bodies such as the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC). These apps are often taken down for violating financial regulations, consumer protection laws, or operating without proper licensing.

Many Nigerians now ask, which loan apps are not licensed by CBN and why they were removed. Some blacklisted apps have been flagged for excessive interest rates, unauthorized deductions, and unethical debt collection practices. This has led to concerns about which loan apps the FG has shut down and how affected users can seek redress. If you’ve had a negative experience with an unregulated lending platform, you may also wonder, how to report an illegal loan app in Nigeria or file a complaint with CBN.

To help borrowers make safer choices, this article provides a detailed list of banned loan apps in Nigeria, explains why they were removed, and highlights CBN-approved loan apps that comply with regulations.

Why You Should Take Note of Delisted Loan Apps in Nigeria

Knowing the list of delisted loan apps in Nigeria is essential for protecting yourself from unregulated and risky lenders. Many of these blacklisted apps have been removed due to high-interest rates, data privacy violations, and borrower harassment. If you're considering a loan, identifying which loan apps are not licensed by CBN can help you avoid financial trouble.

Some borrowers have faced unauthorized deductions and unfair debt collection tactics, leading them to ask how to report an illegal loan app in Nigeria or escalate complaints to the CBN. Staying informed about banned loan apps in Nigeria helps you choose only CBN-approved lenders with fair lending terms. 

Additionally, as regulatory actions evolve, knowing which loan app FG shut down ensures you avoid unsafe or illegal platforms. By keeping track of delisted loan apps, you can protect your finances, data privacy, and overall borrowing experience.

Reasons Why Loan Apps Get Delisted in Nigeria

Several loan apps in Nigeria have been removed from digital platforms or banned by regulatory bodies due to non-compliance with financial and consumer protection laws. Knowing the reasons behind these removals can help borrowers avoid unreliable platforms and choose safer alternatives. Here are the key reasons why delisted loan apps are taken down:

1. Operating Without a CBN License

One of the primary reasons loan apps in Nigeria get delisted is their failure to obtain a Central Bank of Nigeria (CBN) license. Many borrowers ask, which loan apps are not licensed by CBN? This concern is valid because unlicensed loan apps operate without regulatory oversight, exposing users to unfair lending practices, high-interest rates, and potential fraud.

CBN regulates digital lending to ensure consumer protection and financial transparency. Any loan app that fails to meet licensing conditions may be blacklisted and eventually removed from app stores or banned. If you’ve encountered an unapproved lender, you may need to know how to report an illegal loan app in Nigeria or escalate the issue to CBN.

Using CBN-approved loan apps is the safest way to access credit, as these platforms comply with interest rate limits, fair debt collection practices, and data privacy laws. Staying informed about delisted loan apps in Nigeria helps borrowers avoid financial risks and make better lending decisions.

List of Delisted Loan Apps by CBN

Below is a table that contains all the delisted loan apps by the CBN

Swiftkash App	Hen Credit Loan App	Cash Door App	Joy Cash-Loan
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	Moneytree Finance	Cashme App
Secucash App	Creditbox App	Cashmama App	Crimson Credit App
Galaxy Credit App	Ease Cash App	Xcredit	Imoney
Naira Naija Imoneyplus	Nairanaija-Instant	Nownowmoney	Naija Cash
Eagle Cash	Firstnell App	Flypay	Spark Credit

These apps were delisted for violating regulatory guidelines, including operating without proper licensing and engaging in unethical practices. ​By avoiding these delisted loan apps and opting for CBN-approved platforms, borrowers can ensure a safer and more transparent lending experience.

2. Unethical Debt Collection Practices

One major reason loan apps get blacklisted is their unethical debt collection practices, which often violate consumer protection laws. Many delisted loan apps in Nigeria have been flagged for using aggressive and illegal recovery methods that harm borrowers.

Common Unethical Practices by Some Delisted Loan Apps

• Some loan apps bombard borrowers with excessive calls, threats, and even harassment at odd hours. Many users have reported cases where agents insult or intimidate them into repaying their loans.

• A common complaint against delisted loan apps is their practice of sending defamatory messages to borrowers’ family, friends, and work colleagues. These apps falsely accuse users of fraud or label them as debt evaders, damaging their reputation.

• Many unlicensed loan apps illegally access users' contact lists and send unsolicited messages, often embarrassing borrowers. This violation of privacy is one of the main reasons regulators take action.

• Some illegal loan apps in Nigeria impose unfair interest rates, sometimes doubling the principal amount within a short period. Others deduct hidden charges without prior notice, making it difficult for borrowers to clear their debts.

• Many of these apps operate without transparency, failing to disclose loan terms, repayment schedules, and penalties upfront. Borrowers often realize too late that they are trapped in predatory lending cycles.

Regulatory Actions Against Illegal Loan Apps in Nigeria

Due to increasing consumer complaints, the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC) have taken measures to delist loan apps that engage in these unethical practices. If you have been harassed by a loan app, you can take action:

• How to report loan apps to CBN? You can file a complaint with the CBN through their consumer protection department.

• Which loan apps are not licensed by CBN? The FCCPC regularly publishes a list of illegal loan apps in Nigeria that are operating without proper licenses.

• How do I report an illegal loan app in Nigeria? Consumers can report fraudulent lending platforms to the FCCPC, CBN, or the Google Play Store.

• Which loan app did FG shut down? The Nigerian government has shut down multiple loan apps that violate lending regulations and consumer rights.

To avoid falling victim to unethical loan apps, always verify that a loan app is CBN-approved before borrowing.

3. High-Interest Rates and Hidden Charges

Another major reason for the delisting of loan apps in Nigeria is their unreasonably high-interest rates and hidden charges. Many illegal loan apps in Nigeria exploit borrowers by imposing excessive fees that significantly increase the total repayment amount.

How Delisted Loan Apps Trap Borrowers with High Fees

• Some delisted loan apps charge interest rates as high as 50–100% within a few weeks, making it difficult for borrowers to repay on time. These rates often exceed the limits set by regulatory bodies.

• Many unlicensed loan apps fail to disclose additional charges upfront. Borrowers only realize they have been overcharged when deductions are made from their bank accounts without explanation.

• Some loan apps impose extreme penalties for late payments, doubling or tripling the initial loan amount within a short period. Borrowers who miss a deadline often find themselves trapped in a cycle of endless debt.

• Unlike CBN-approved loan apps, many delisted loan apps in Nigeria provide unrealistic repayment timelines. Some apps require borrowers to repay within 7–14 days, making it nearly impossible for users to settle their debts without defaulting.

How to Avoid Loan Apps with Hidden Charges?

If you're unsure about a lending platform, consider the following:

• Check if the loan app is CBN-licensed to ensure it follows standard lending regulations.

• Read the terms and conditions carefully before accepting a loan offer.

• Compare interest rates with reputable digital lenders to see if they are within the industry average.

• Report fraudulent loan apps: If you suspect hidden fees, you can report a loan app to CBN or the FCCPC for investigation.

Many banned loan apps in Nigeria charge excessively high-interest rates and impose hidden fees, trapping borrowers in debt cycles. When complaints increase, authorities take action against these apps. If you're a victim of unfair interest rates or hidden charges, you can report an illegal loan app in Nigeria to the FCCPC or CBN for proper action. Always choose trusted digital lending platforms to avoid falling into financial traps.

4. Data Privacy Violations

One of the biggest reasons behind the delisting of loan apps in Nigeria is data privacy violations. Many illegal loan apps in Nigeria have been accused of misusing borrowers’ personal information without consent, leading to harassment, financial fraud, and unauthorized access to sensitive data.

How Delisted Loan Apps Violate Users’ Privacy

• Some delisted loan apps secretly access borrowers' phone contacts and send threatening messages to their family, friends, and colleagues in an attempt to shame them into repaying loans. This unethical practice has led to widespread complaints.

• Many unlicensed loan apps store users’ names, phone numbers, and BVN details without proper security measures. Some even sell customer data to third parties, increasing the risk of identity theft and financial scams.

• Some illegal loan apps in Nigeria require excessive permissions, including access to messages, call logs, and location tracking. These apps monitor users’ activities and sometimes manipulate data to charge unnecessary fees.

• Unlike CBN-approved loan apps, delisted platforms do not comply with Nigeria’s Data Protection Act. They fail to implement security measures that protect users' information from hackers and unauthorized use.

How to Protect Your Data from Illegal Loan Apps?

If you're worried about your privacy when using loan apps, follow these steps:

• Before downloading, check if the app is CBN-approved and FCCPC-registered.

• Avoid apps that demand unnecessary access to contacts, messages, and call logs.

• Ensure the app explicitly states how your data will be used and protected.

• If a loan app misuses your data, you can report the loan app to CBN or file a complaint with the FCCPC.

One of the biggest reasons for delisting is the unauthorized collection and misuse of borrowers’ personal information. Some apps access contacts, messages, and other private data without consent, prompting regulatory intervention.

5. Unauthorized Debit Transactions

Another major reason for the delisting of loan apps in Nigeria is the issue of unauthorized debit transactions. Many illegal loan apps in Nigeria have been accused of deducting money from users’ bank accounts without prior consent, leading to financial losses and frustration.

How Delisted Loan Apps Carry Out Unauthorized Debits

Auto-Deductions Without User Approval. Some delisted loan apps automatically withdraw money from borrowers' bank accounts, even when payments are not due. These unauthorized transactions leave users struggling with unexpected deductions.

• Many unlicensed loan apps have been reported for debiting borrowers multiple times for a single repayment, often without providing any form of refund. This unethical practice forces borrowers into unnecessary financial difficulties.

• Some illegal loan apps in Nigeria store users' ATM card details without consent and later use them for unauthorized deductions. This is a direct violation of financial data privacy laws.

• There have been cases where loan apps withdraw money from users who never took a loan. This happens when apps illegally access users' banking information and initiate fraudulent transactions.

How to Prevent Unauthorized Debits from Loan Apps

If you're concerned about loan apps making unauthorized deductions, take these steps:

• Avoid linking your main bank account to questionable loan apps; instead, use virtual cards for transactions.

• Regularly check your account for unauthorized debits and report them immediately.

• If you notice suspicious deductions, contact your bank to block automatic withdrawals from the loan app.

• If you fall victim to fraudulent deductions, you can report the loan app to CBN or the FCCPC for investigation.

Some delisted loan apps have been reported for making unauthorized withdrawals from users' bank accounts. If you've been affected, you might wonder how do I report an illegal loan app in Nigeria or how to report a loan app to CBN to take legal action.

6. Consumer Complaints and Regulatory Crackdowns

A major reason for the delisting of loan apps in Nigeria is the increasing number of consumer complaints and subsequent regulatory crackdowns by authorities like the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC).

Why Consumers Report Loan Apps?

Harassment and Threats. Many borrowers file complaints against illegal loan apps in Nigeria due to constant harassment, including excessive calls, threats, and public shaming tactics.

• Consumers frequently report unlicensed loan apps for invading their privacy by accessing their contact lists and sending defamatory messages to family and friends.

• Many complaints arise from delisted loan apps charging unfair interest rates and imposing hidden charges that trap borrowers in endless debt cycles.

• Users report loan apps that deduct money from their accounts without permission, making unauthorized transactions a major regulatory concern.

How Regulatory Bodies Are Cracking Down on Illegal Loan Apps?

• The FCCPC and CBN actively investigate consumer complaints and have blacklisted several loan apps that violate lending regulations.

• Due to mounting complaints, Google and Apple have removed several illegal loan apps from their platforms.

• Some delisted loan apps in Nigeria have been completely shut down by Nigerian authorities for failing to comply with fair lending practices.

As more Nigerians become aware of their rights, complaints about fraudulent loan apps have increased. This has led to stricter enforcement by the Federal Government (FG), resulting in which loan app did FG shut down becoming a common concern.

7. Removal by Google Play Store and Apple App Store

One of the biggest signs that a loan app is illegal or delisted in Nigeria is its removal from Google Play Store and Apple App Store. Tech giants like Google and Apple enforce strict policies to ensure financial apps comply with data protection, fair lending, and ethical debt recovery practices.

Why Loan Apps Get Removed from Google Play Store & Apple App Store?

• Many delisted loan apps in Nigeria access users’ contacts, messages, and other personal data without permission, violating app store privacy policies.

• Apps that charge excessive interest rates, impose hidden charges, or harass borrowers with threats often face removal from app stores.

• Google and Apple require loan apps to disclose clear loan terms, repayment periods, and interest rates. Apps that fail to meet these requirements are removed.

• If an app receives too many consumer complaints or low ratings due to unethical practices, it risks getting delisted from Google Play Store or the Apple App Store.

How to Check If a Loan App Is Delisted?

With the growing crackdown on illegal loan apps in Nigeria, it's important to verify whether a loan app has been delisted before using it. Here are some detailed methods to confirm if a loan app has been removed or blacklisted:

1. Search on Google Play Store & Apple App Store

One of the first signs that a loan app has been banned or delisted is its removal from official app stores. How to check:

• Open the Google Play Store (for Android) or Apple App Store (for iOS).
• Type the loan app’s name in the search bar.
• If the app does not appear or shows an error message, it may have been delisted.
• If you previously installed the app, check if updates are still available—delisted apps often lose update support.

Why apps get removed from stores:

• Violations of data privacy policies (e.g., unauthorized access to user contacts).
• High number of complaints and negative reviews.
• Failure to meet Google & Apple’s financial app guidelines.
• Regulatory actions by CBN or FCCPC.

2. Check the FCCPC & CBN Blacklists

The Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank of Nigeria (CBN) maintain updated lists of delisted loan apps in Nigeria. How to check:

• Visit the FCCPC official website for the latest blacklisted loan apps.
• Check the CBN website for the list of licensed digital lenders.
• If a loan app is missing from the CBN-approved lenders list, it is likely unlicensed or delisted loan apps in Nigeria.

Important:

• Some illegal loan apps in Nigeria change their names after being delisted. Always verify using official sources before borrowing!

3. Read Online Reviews & Complaints

If a loan app is fraudulent or has been delisted, many users will report it online. Where to check for complaints:

• Google Search: Type the loan app name + “scam” or “complaints.”
• Social media (Twitter, Facebook, Reddit, Nairaland) – Users often post warnings.
• Consumer protection forums and blogs – Websites like TradeTest.ng or FCCPC complaint portals.

Red flags to look for in complaints:

• Unauthorized debit transactions.
• Harassment through calls and messages.
• Excessive interest rates and hidden fees.
• Data privacy violations (e.g., accessing contacts without consent).

4. Visit the App's Website (If Available)

Some delisted loan apps in Nigeria attempt to continue operations by launching their own websites where users can download APK files instead of using official app stores. How to check:

• Search for the loan app’s official website.
• If the app was previously on the Play Store but now offers only a direct APK download, be cautious—this could indicate that it was removed for violating policies.
• Check the website for licensing details (CBN registration, FCCPC approval, or any regulatory information). If missing, it’s a red flag.

Warning:

• Do not download loan apps from unofficial websites—these could contain malware or spyware that steal financial information.

5. Check for Recent News & Government Warnings

Government agencies and financial news platforms frequently publish lists of banned loan apps in Nigeria. Where to find updates:

• FCCPC official press releases.
• CBN announcements on unlicensed financial institutions.
• News sites like TradeTest.ng, Punch, Vanguard, Nairametrics, and Legit.ng.
• Tech & finance blogs covering fintech regulations.

6. Confirm With Customer Support & Regulatory Authorities

If you're still unsure about a loan app’s status, you can contact:

•  Send an email or visit their office to verify if the app is licensed.
•  Lodge a complaint or check for existing complaints.
• Banks may have flagged certain loan apps due to fraudulent activities.

What to Do If You Find a Delisted Loan App?

• Do not download or use the app—it may be fraudulent.
• Report the loan app to CBN or FCCPC to help stop its operations.
• Avoid providing your banking details or BVN to such apps.
• Warn others—leave reviews or share on social media.

By verifying a loan app’s status, you can avoid scams, protect your finances, and ensure you only borrow from trusted, CBN-approved lenders.

Regulatory Authorities Monitoring Loan Apps in Nigeria

Several regulatory bodies oversee the activities of loan apps in Nigeria to ensure they operate within the law and protect consumers from fraud, exploitation, and privacy violations. Here’s a breakdown of the key regulators:

1. The Central Bank of Nigeria (CBN)

The CBN is the primary financial regulator in Nigeria, responsible for licensing and monitoring financial institutions, including digital lending platforms.

Roles of CBN in Regulating Loan Apps

• Grants licenses to legitimate loan apps.
• Publishes a list of approved digital lenders.
• Investigates consumer complaints on unethical loan practices.
• Imposes penalties and sanctions on loan apps that violate financial laws.

How to Report an Illegal Loan App to CBN?

• Visit the CBN’s official website and check the approved digital lenders list.
• If a loan app is not listed or engages in fraud, report to cpd@cbn.gov.ng or call the CBN Consumer Protection Department.

Why This Matters?

• Loan apps operating without CBN approval may charge excessive interest rates, misuse customer data, or engage in illegal debt collection tactics.

2. The Federal Competition and Consumer Protection Commission (FCCPC)

The FCCPC is responsible for protecting Nigerian consumers from unfair trade practices, including loan app misconduct.

FCCPC's Role in Loan App Regulation

• Publishes a list of banned and unlicensed loan apps.
• Investigates and shuts down fraudulent loan apps.
• Enforces consumer rights and data privacy regulations.
• Works with Google Play Store and CBN to take down illegal loan apps.

How to Report a Loan App to FCCPC?

• Submit complaints via the FCCPC website: https://fccpc.gov.ng/.
• Call FCCPC’s helpline to report harassment or illegal charges.

Why This Matters?

• Many delisted loan apps in Nigeria were taken down due to FCCPC intervention after reports of harassment, high-interest rates, and unauthorized debits.

3. Google Play Store and Apple App Store Policies

Tech giants Google and Apple also regulate loan apps on their platforms by enforcing strict policies.

Key App Store Policies on Loan Apps

• Loan apps must disclose interest rates, fees, and repayment terms.
• Access to user contacts, messages, or photos without consent is prohibited.
• Apps engaging in harassment, threats, or unfair lending practices get removed.

How Loan Apps Get Delisted from App Stores?

• If a loan app violates Play Store or App Store policies, it may be removed.
• Users can report unethical loan apps directly via the Google Play Store complaint system.
• Regulatory actions by CBN or FCCPC can lead to app store bans.

Why This Matters?

• Loan apps that get removed from Play Store or App Store often resort to APK downloads, which can pose security risks.

These regulatory bodies work together to protect Nigerians from fraudulent and unlicensed loan apps. Before using a loan app, always check if it is CBN-licensed, FCCPC-approved, and still available on Play Store or App Store. Tech platforms also enforce strict policies to protect users. 

If a loan app is reported multiple times for violating guidelines, it may be removed, even before regulatory bodies step in. By staying informed about these reasons, borrowers can avoid unsafe lending platforms and opt for CBN-approved loan apps that provide fair and transparent services.

How to Identify Fake or Delisted loan apps in Nigeria

With the rise of digital lending platforms in Nigeria, many fraudulent loan apps have surfaced, preying on unsuspecting borrowers. Identifying fake or delisted loan apps in Nigeria is crucial to avoid falling victim to financial scams. Here are some red flags to watch out for:

Red Flags to Watch Out For

1. If a loan app is not approved by the Central Bank of Nigeria (CBN) or listed by the Federal Competition and Consumer Protection Commission (FCCPC), it is likely a delisted loan apps in Nigeria.
2. Fraudulent apps often provide misleading information about loan interest rates, repayment schedules, and additional fees.
3. Fake loan apps lure customers with low initial rates but impose exorbitant interest fees and undisclosed charges.
4. Legitimate loan providers have verifiable addresses and customer support. If an app provides no credible contact details, it is a red flag.
5. Many fraudulent loan apps request excessive permissions, such as access to contacts, messages, and gallery, which they misuse for harassment.
6. Apps that send threats, harass borrowers, or publicly shame defaulters through messages to family and friends are likely illegal.
7. A simple online search can reveal user complaints about fraudulent activities, unreasonable deductions, or scamming tactics.

How to Verify a Loan App’s Legitimacy

To ensure you are dealing with a legitimate lender, follow these steps:

• The Central Bank of Nigeria and the Federal Competition and Consumer Protection Commission maintain a list of approved lenders.
• Verify if the app is registered as a financial institution.
• Check Google Play Store, App Store, and social media platforms for user feedback.
• Authentic lenders have verifiable business addresses, websites, and customer support channels.
• Ensure that all loan terms, including fees and penalties, are clearly stated before accepting any offer.

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Alternative Legitimate Loan Apps in Nigeria

If you are looking for reliable lending platforms, consider using CBN-approved loan apps. These apps adhere to financial regulations and provide transparent loan terms.

List of CBN-Approved Loan Apps

Some of the most reputable and licensed loan apps in Nigeria include:

1. Carbon
2. FairMoney
3. Branch
4. Aella Credit
5. QuickCheck
6. Palmcredit
7. Renmoney

Need a little help? See complete list of loan apps approved by the CBN.

Features of Trusted Lending Platforms

• hey are licensed by CBN and operate under Nigerian financial laws.
• They provide clear information on interest rates, repayment plans, and additional charges.
• They use strong encryption to protect users' data.
• They offer competitive interest rates without hidden charges.
• They do not harass or intimidate borrowers for repayments.

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What to Do If You’ve Been Scammed by a Delisted Loan App

If you suspect that you have been defrauded by a banned loan app, take the following steps immediately:

Steps to report delisted loan apps in Nigeria

1. File a complaint via their official website or contact their customer protection helpline.
2. If unauthorized deductions were made, alert your bank to block further transactions.
3. Request the removal of the fraudulent app to prevent further victims.
4. The Economic and Financial Crimes Commission (EFCC) and the Nigeria Police Force handle financial fraud cases.
5. Share your experience on social media and review platforms to alert other potential victims.

Conclusion

The rise of delisted loan apps in Nigeria has highlighted the urgent need for borrowers to exercise caution when choosing a lending platform. Many banned loan apps have been blacklisted due to fraudulent practices, privacy violations, and unethical debt collection tactics. Falling victim to fake loan apps can lead to financial losses, harassment, and unauthorized access to your personal data.

To protect yourself, always verify a lender’s legitimacy through regulatory bodies like the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC). Choosing CBN-approved loan apps ensures compliance with Nigerian financial laws, transparent loan terms, and fair interest rates.

If you’ve been scammed by an unlicensed loan app, take immediate action by reporting the fraud to relevant authorities and seeking possible ways to recover your funds. Responsible borrowing is essential, and opting for legitimate loan platforms guarantees a safer and more transparent lending experience.

Always prioritize financial security by borrowing only from trusted lending platforms that comply with regulatory standards. Stay informed, verify loan apps before use, and protect yourself from predatory lenders.