Top 20 Fake Loan Apps in Nigeria 2023

In a world increasingly reliant on digital transactions and quick loans, the dark side of the lending landscape has emerged—fake loan apps. These deceptive applications prey on unsuspecting borrowers, leading to scams, threats, and unauthorized debits.

Here, we unveil the top 20 fake loan apps in Nigeria for 20223 urging borrowers to exercise caution and avoid falling victim to these fraudulent practices.

Identifying Fake Loan Apps

Before delving into the list, it’s crucial to understand how to identify fake loan apps. Here are some red flags to watch out for:

  1. Small Loan Amounts: Legitimate lenders offer reasonable loan amounts; fake apps may promise unrealistically small sums.
  2. Crazily High-interest Rates: While average commercial bank loans in Nigeria have a 24% interest rate, fake loan apps often exceed 75% to 400%.
  3. Fake Office Address: Legitimate companies have verifiable office addresses; fake apps may provide false or nonexistent locations.
  4. Unregistered Loan Companies: Fake loan apps operate without proper registration, violating regulatory requirements.
  5. Short Loan Repayment Time: Unrealistically short repayment periods, such as 7 to 14 days, are a clear warning sign.
  6. Immediate Pressure to Act: Fraudulent apps may pressure borrowers to act hastily, creating a sense of urgency.
  7. Fake or Insecure Lender’s Website: Legitimate lenders invest in secure websites; fake apps may lack proper security measures.
  8. Card Verification Fee: Reputable lenders don’t charge upfront verification fees; fake apps might ask for such fees.

The List: Top 20 Fake Loan Apps

  1. KashKash
  2. GoCash
  3. Cash Mall
  4. CashLion
  5. FastMoney
  6. LendCash
  7. BorrowNow
  8. LCredit
  9. NairaPlus
  10. 9ja Cash
  11. Cash Wallet
  12. GGMoney
  13. 9Credit
  14. Sokoloan
  15. Palmcash
  16. Ease Cash
  17. ForNaira
  18. GotCash
  19. NCash
  20. GotoCash

Case Studies: KashKash, 9ja Cash, NairaPlus, Sokoloan, 9Credit

KashKash: The Notorious Offender

KashKash lures borrowers with promises of flexibility but has a track record of high-interest rates and false claims. Recently shut down in Lagos, it faces impending legal action.

9ja Cash: Sokoloan’s Sibling

Owned by Sokoloan, a banned lending app, 9ja Cash exhibits predatory practices, including exorbitant interest rates and privacy invasion.

NairaPlus: The Privacy Invader

NairaPlus, known for promising tempting loans, lacks respect for user data privacy and resorts to threats and blackmail.

Sokoloan: The Unprofessional Platform

Sokoloan, despite being popular, has faced fines for privacy invasion and unprofessionalism. It restricts loans to 7 days and exhibits questionable practices.

9Credit: The Persistent Debtor Shamer

9Credit resorts to publicly shaming borrowers, violating privacy norms. Its aggressive tactics include threatening messages to employers and family members.

How Fake Loan Apps Operate

The surge in fake loan apps has brought about a wave of predatory practices, including illegal security deposits, high processing fees, and threats. Some apps invade user privacy, using derogatory language and insults to coerce borrowers.

Google’s Requirements for Loan Apps

Google mandates that loan apps on the Play Store provide borrowers with a minimum repayment period of 60 days from the date of issue. This policy aims to protect borrowers and ensure ethical lending practices.


In conclusion, navigating the digital lending space in Nigeria requires vigilance and awareness. By avoiding the listed fake loan apps and recognizing red flags, borrowers can safeguard themselves from scams and unauthorized debits. If you encounter fraudulent practices, report them to regulatory authorities promptly.


  1. Why are short loan repayment periods a red flag for fake loan apps?
    • Short repayment periods, like 7 to 14 days, deviate from standard lending practices and indicate potential fraudulent intent.
  2. How can borrowers identify fake loan apps?
    • Watch out for high-interest rates, small loan amounts, fake office addresses, and immediate pressure to act.
  3. What actions can borrowers take if they encounter a fake loan app?
    • Report the app to regulatory authorities and refrain from engaging in any transactions.
  4. Why is Google’s 60-day repayment policy important for borrowers?
    • It ensures borrowers have a reasonable time to repay loans and protects them from predatory lending practices.
  5. How can borrowers contribute to curbing the rise of fake loan apps?
    • Stay informed, report suspicious apps, and share experiences to raise awareness about fraudulent lending practices.

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