In 2025, borrowing money through digital platforms in Nigeria has become easier — but also riskier if you don't choose carefully.
Thankfully, the Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank of Nigeria (CBN) have taken strong steps to regulate the sector.
They’ve officially released lists of loan apps that meet Nigeria’s standards for transparency, data protection, interest rates, and customer treatment.
In this guide, you’ll find the complete list of approved loan apps, those under conditional approval, the watchlist, and the delisted apps you should absolutely avoid.
✅ Fully Approved Loan Apps in Nigeria (2025)
The FCCPC has granted full approval to over 320 loan apps after a strict vetting process. These apps have demonstrated compliance with Nigerian laws and customer protection standards.
Some of the top fully approved loan apps are:
- PalmPay
- NewCredit
- EasyBuy
- Xcross Cash
- Xcash
- NeoCash
- Firmus Mobile
- Kashpit
- Monifix
- Dovekash
- Awoofikash
- Freshmoni
- CoreBank Mobile
- Oxygen X Web
- AidaCredit
- Pal Loan
- FlexiBank
These platforms guarantee:
- Transparent loan conditions
- Proper data protection
- No harassment of borrowers
⚠️ Conditionally Approved Loan Apps
Not all loan apps have completed the full approval process yet.
As of 2025, about 54 loan apps have conditional approval.
These apps are still under strict monitoring as they finalize their compliance steps. It’s recommended to be cautious when dealing with them until they are fully certified.
🏦 CBN-Licensed Loan Providers
Aside from app approvals, the Central Bank of Nigeria (CBN) has licensed several financial institutions to offer loan services legally.
Here are some key CBN-licensed lenders:
- Accion Microfinance Bank
- Newedge Finance Limited (behind PalmCredit, NewCredit, EasyBuy, Xcross Cash, Xcash)
- Shepherd Trust Microfinance Bank
- Firmus Microfinance Bank
- Cashbridge Microfinance Bank
- Zedvance Finance Limited
These companies offer:
- Personal loans
- Business loans
- Educational loans
- Micro-lending services
Because they are regulated by the CBN, these institutions must follow strict financial conduct rules.
🚫 Loan Apps Under FCCPC Watchlist
The FCCPC has placed about 88 loan apps on its watchlist.
These apps are flagged for potential violations like data abuse, harassment, or unethical practices.
Some loan apps on the watchlist include:
- Daily Loan
- EasyCash
- Cashdoor
- Quicknaira
- Linkloan
- Fairkash Loan
- Megaloan
- Loan 300,000 Naira in Crancash
- Creditwallet
- Earlycash
- Linkcredit
Borrowers should exercise extreme caution when dealing with these apps.
❌ Delisted Loan Apps (Banned in 2025)
Several loan apps have been completely delisted for failing to meet standards.
They are banned from operating in Nigeria.
Key delisted apps include:
- Swiftkash
- Hen Credit Loan
- Cash Door
- Joy Cash-Loan Up To 1,000,000
- Eaglecash
- Luckyloan Personal Loan
If you see any of these apps offering loans, avoid them completely.
How to Verify a Loan App's Approval Status
Always double-check a loan app before applying!
Here’s how:
- Visit the FCCPC Official Portal:
They regularly update the list of approved digital lenders. FCCPC Official Website - Check the CBN Directory:
Confirm if the lender is licensed. CBN Financial Institutions Directory - Look at Trusted News Platforms:
Reputable news outlets like Legit.ng, Nairametrics, and Punch update Nigerians about approved and banned loan apps.
Tips for Choosing a Safe Loan App
- Confirm Approval: Always check if the app is FCCPC- or CBN-approved.
- Check Reviews: See what other borrowers are saying.
- Understand the Terms: Be clear on interest rates, repayment periods, and penalties.
- Protect Your Data: Choose apps that guarantee privacy and never ask for unnecessary permissions.
- Watch Out for Harassment: Approved apps must follow Nigeria’s anti-harassment policies.
FAQs About Loan Apps in Nigeria (2025)
1. Which loan apps are safe to use in Nigeria?
Apps like PalmPay, EasyBuy, NewCredit, and NeoCash are safe and fully FCCPC-approved for 2025.
2. How can I know if a loan app is banned?
Check the FCCPC’s official list or visit the CBN website for up-to-date information about banned or delisted loan apps.
3. Is it illegal to use an unapproved loan app?
It’s not illegal for borrowers, but using unapproved apps exposes you to risks like fraud, harassment, and unfair practices.
4. What are signs of a bad loan app?
Bad loan apps often have high hidden charges, request too many phone permissions, and send harassing messages to your contacts.
5. Can I report a bad loan app?
Yes! You can file a complaint directly with the FCCPC through their website or contact their helpline for assistance.
Conclusion
With the FCCPC and CBN cleaning up Nigeria’s digital lending space in 2025, borrowers now have safer choices than ever before.
Stick with the approved apps listed above, avoid those on the watchlist, and NEVER borrow from delisted apps.
By staying informed, you’ll protect your money, your data, and your peace of mind.
Borrow smart. Borrow safe.
