In Nigeria, mobile loan apps have become a lifeline for millions seeking fast, accessible credit. But not all loan apps are safe. To protect consumers, the Federal Competition and Consumer Protection Commission (FCCPC) maintains a list of loan apps approved by CBN, ensuring they comply with financial regulations.
This list highlights loan apps that meet Nigeria’s legal, financial, and data protection standards.
Why CBN Approval Matters for Loan Companies
Loan apps with full approval:
- Operate legally under Nigerian law
- Are accountable to regulators
- Protect user data
- Offer transparent interest rates
- Avoid harassment and unethical recovery practices
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List of Loan Apps Approved by CBN
Here are some of the most trusted apps from the FCCPC registry:
| Company Name | CBN Approved Loan App(s) |
|---|---|
| FairMoney Microfinance Bank | FairMoney App |
| Carbon Microfinance Bank Limited | Carbon App |
| Branch International Financial Limited | Branch Mobile App |
| Renmoney Microfinance Bank | Renmoney Instant Cash Loan |
| Aella Financial Solutions Limited | Aella App |
| PalmCredit (Newedge Finance) | PalmCredit Plus App |
| Pennee Technologies Ltd | Pennee App |
| Paylater Hub Limited | Paylater App |
| Umba Digital Solutions Limited | Umba Mobile App |
| Sycamore Integrated Solutions Limited | Sycamore App |
| QuickCheck (Arve Limited) | QuickCheck App |
| P2Vest Technology Limited | P2Vest App |
| MIM Finance Company | Money in Minutes App |
| Dot Microfinance Bank Limited | DotBank App |
| Creditville Microfinance Bank Limited | Creditville App |
| Princeps Credit System Limited | Credit Wallet App |
| Payhippo Ltd | Payhippo App |
| Credpal (Crednet Technologies) | Credpal App |
| Okash (Blue Ridge Microfinance Bank) | Okash App |
| M-KOPA Loans Nigeria Limited | M-KOPA App |
| AIBANC Technologies Limited | AIBANC Mobile App |
| Cashigo International Limited | LCredit App |
These apps are listed in the FCCPC’s official registry and have met the requirements for full approval.
How to Verify an Approved Loan App in Nigeria
Before applying or downloading the loan app:
- Check the FCCPC registry
- Confirm CBN licensing via the app’s website or app store
- Avoid apps that request access to contacts or photos
- Read user reviews and permissions carefully