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List of fake loan apps in Nigeria 2022; Do not borrow from them

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List of fake loan apps in Nigeria 2022; Make sure you do not try to borrow money from these loan apps that we will be listing below it never ends well.

There has been people complaining of getting scammed online and also getting disturbing messages from loan apps and also their friends and family being sent messages about you when you fail to pay your loan in time and also you could get deducted from your bank the wrong way.

fake loan apps in Nigeria

If you are looking to avoid all these, make sure that you do not engage yourself with these loan apps that we will list below;

List of fake loan apps in Nigeria 2022

  • Cash Mall
  • CashLion
  • FastMoney
  • LendCash
  • BorrowNow
  • LCredit
  • NairaPlus
  • 9ja Cash
  • Cash Wallet
  • GGMoney
  • 9Credit
  • Sokoloan
  • Palmcash
  • Ease Cash
  • ForNaira
  • GotCash
  • NCash
  • GotoCash
  • GoCash
  • KashKash

We will explore a little detail about every of these loan Apps above and express what people have to say about them in the end.

Cash Mall

They promise that borrowers’ private data are secure and safe, saying it never share customers’ information to anyone without consent. These claims are false. Cash Mall is one of the top fake loan apps in Nigeria and the very first on our list of 20.

If you ever default a day, their strict collection method will expose your data on social media and shame messages sent to all your contact list.

Giving loans amount that vary from NGN 2,000 to NGN 100,000 which has also proven not to be true, it only gives very little credit amount to customers which is less than 5,000.

Against Google Policy for loan apps hosted on its Play Store loan tenure to be 91 days ~ 365 days on their dashboard but customers say Cash Mall tenure is 7 days which is yet another lie by the platform.

Here are customers claims on Cash Mall

Enny Iverson on 15 October 2021
This is such a useless app and a am so disappointed. I applied for the loan, i got a message the loan has been sent to my bank account, up till now have not seen any credit alert, kept calling and messaging, but no response, to make matters worse its not even up to 24hours i applied and they already said I am 2 days out of the 7 days payment period.

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As in I don’t understand.. Such a useless app ran by scams.

Omole Bidemi on 25 October 2021
I have made your repayment since yesterday the due date. Up till now it has not been cleared. I have sent mail to your email since yesterday. Then this morning I am seeing overdue. If you think i will pay this overdue you are mistaken o. All mobile numbers are switched off.

Faith Akande ON 19 September 2021
Please, the company contacts on this app needs to be changed to functional ones. Both for calls and WhatsApp. I have repaid my loan since on the 15th of September, I sent the proof of payment through email no response, try to connect through the numbers switched off. But instead i kept receiving messages and charges daily.. i have already paid pls.


A little detail about CashLion as yo might need to know about…

Download CashLion app from Google Play store using your Android phone, Create your Account, Fill out your information and access the app within a minute, Check Loan limit, Quickly upload your Bank account statement and get your loan limit, Apply & Receive Money on Your Bank account, All the CashLion loans are conveniently and directly sent to your registered bank account.

Nigeria Citizenship
Age between 20 to 60
Here is what a customer had to say about CashLion
They are nothing but Criminals (including Naira plus and oxloan). You are going down … Nothing is true about this app. Loan term is not as you said. This app is so so frustrating. I regret ever using this app. Its workers are very very very very very rude. They keep sending threats via WhatsApp a day to the due date. I will never advise anyone to use it. There are other reliable loan app aside cashlion.


Here is a little detail you will need to know about Fastmoney.

What is money? It’s a representation of value based on trust. Its closest relationship is with people as the only ones who can transact with it. According to Francisco D’Souza, senior adviser at Banco Santander, it’s important that we look at money from two angles: “fast” and “slow”.

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What does that mean? “Fast money” refers to things we pay for every day, like bills and food. “Slow money”, however, comes from things we pay over time, like mortgages, investments and life insurance.

As D’Souza mentioned at the 2020 Santander International Banking Conference, understanding what moves us to spend each type of money is key.


Here is what you need to know about Lendcash.

LendCash is a Nigerian personal loan app that offers you loans up to N400000 with no long queues, no long wait times, and no collateral or guarantors needed. You can run the whole process from start to finish just on your smartphone, and get a loan disbursed to your bank account in less than 5 minutes.

LendCash loans uses AI to analyze your credit score, which enables it to guarantee a 24 hour loan disbursement service to customers.


Here is a little detail about BorrowNow.

BorrowNow is a simple and efficient application that allows you access to quick, legit and guaranteed payday loans and cheap personal credit loans to get money. The Nigerian Money Lender provides secure and easy short-term cash loans for both personal and business use to meet urgent cash needs.

The app uses AI to analyze your bank records and validate your BVN to take lending decisions based on your credit score. The loan is 100% online, with no collateral required and you can apply at anytime, any day of the week.

Here is customers complaint of BorrowNow


This is to inform the general public  that [ xxxxx ] with phone number [ xxxxx] has DEFRAUDED an online loan company [ BorrowNow ] with sum of #12111 and he has refused to pay up…if peradventure you get this message, kindly note that your details was dropped from said person when applying for the loan as emergency Contact…. kindly contact the person to make the full repayment on before 12pm today 14th of october as the organization is ready to take drastic actions about his case….

We would not seize to keep broadcasting his details until full payments is made
please note that he’s not trustworthy and no business activities should be carry out with him for now until the said person is declared free .



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Customers remark on this Loan App

Folafaith on October 22, 2021 at 6:48 am told us: “Truly LCredit do spy on person account, phone storage, contacts, messages and start calling your contacts and message them on WhatsApp and through normal messaging. If you fail to repay just for a day, they will start calling all your contacts and start calling the person a fraudster.”

She continues: “This scam activity is not only peculiar with LCredit, there are still many of the loan apps  that does so, such as Sokoloan, Credit9ja, True Naira, Naira Plus, KasKash, Easycredit. Sokoloan for example will tell you to sell your property to repay them, even though you’re on sick bed it doesn’t concern them.”

Another user, Tunji Adeleke on October 22, 2021 at 7:04 am told us: “Most of these obviously fake quick loan apps spy on your private information. They also spy your SMS alert to know when you receive payment and other information. They will collect your phone contact list to which they begin to send threat messages to them and even call some of them.”

Another user of the app responded to QUICK LOAN ARENA in bewilderment. Vivian on October 21, 2021 at 2:21 pm says “I can’t find LCredit app on goggle again, what really happened? Bcoz I loaned from them.”

Obinna Michael on October 21 expressed his disappointment with the loan app. He adds to the query, “Money that has been paid with proof of transaction slips, LCredits loan app keep sending messages to contacts. If their systems are faulty they should fix it properly before coming into the business!”

LCredit is a top fake loan app in Nigeria and every borrower should avoid it by all means.