List of Loan Apps Approved by CBN: In a bid to combat the proliferation of illegal lending apps and safeguard borrowers from exploitation, the Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria has taken proactive measures. The approval of over 162 digital lending applications by the FCCPC, with 107 receiving full approvals and 55 receiving conditional approvals, marks a significant step towards providing borrowers with safe and reliable financial assistance.
Latest List of Loan Apps Approved by CBN 2024
The collaboration between the FCCPC and the Central Bank of Nigeria (CBN) underscores a shared commitment to regulating the digital lending landscape effectively. Through stringent review processes, these regulatory bodies aim to weed out non-compliant and predatory lending practices, thereby fostering a conducive environment for borrowers.
Top 10 Trusted Loan Apps Approved by CBN
Navigating through the plethora of approved loan apps can be daunting for borrowers. To simplify the process, we’ve curated a List of Loan Apps Approved by CBN and highly-rated loan apps based on customer feedback and ratings:
- Branch International: With over 10 million downloads and a stellar rating of 4.5, Branch International stands out as a pioneer in providing safe and reliable financial assistance to Nigerian borrowers.
- Okash: Owned by Opay, Okash offers convenient personal loans with over 5 million downloads since its inception in 2018, highlighting its popularity among Nigerian mobile users.
- Kuda: As a trusted digital banking platform, Kuda obtained approval from the CBN to offer comprehensive financial services, ensuring user confidence and reliability.
- QuickCheck: Leveraging machine learning, QuickCheck provides 24/7 loans without collateral, catering to underserved Nigerian consumers and micro-businesses.
- FairMoney: Known for its fast loan disbursal process and flexible repayment options, FairMoney has become a go-to platform for users seeking efficient financial solutions.
- Palmcredit: With a user-friendly interface and quick loan disbursement process, Palmcredit remains a favorite among Nigerian borrowers.
- Renmoney: Renmoney’s adherence to CBN regulations and positive user feedback solidify its position as a trusted loan app, empowering more Nigerians to manage their finances effectively.
- Aella Credit: Backed by Y Combinator, Aella Credit offers innovative financial solutions, catering to the diverse needs of borrowers in Nigeria.
- Carbon: Formerly known as Paylater, Carbon provides a fully digital lending experience with impressive ratings and a wide range of loan options.
- PayCredit: Offering salary advances and business loans without the need for collateral or guarantors, PayCredit ensures accessibility and convenience for borrowers.
- Rbi Approved Loan Apps List in India 2024
Latest List of Loan Apps Approved by CBN
We have compiled the complete List of Loan Apps Approved by CBN and lenders approved by the CBN in light of the shifting regulatory landscape. This list represents the most recent view of authorized loan apps as reported by the Central Bank, and we will be updating this list frequently as the CBN continues to remove non-compliant lending apps.
Remember to bookmark this page so you can always have an accurate, up-to-date roster of all the lending apps and services currently List of Loan Apps Approved by CBN.
- A1 Capital Solution Limited
- Afrofirst Mobile and Technology Company Limited
- Afrosay Fintech Limited
- Afrowide Development Ltd
- Altracred Finance Investment Limited
- Apex Lending Limited
- Applink Capital Nigeria Limited
- Arve Limited
- Bestfin Nigeria Limited
- Betterlending Company Limited
- Be Resources Limited
- Berly Spring Global Limited
- Bettersave Nigeria Limited
- Betteryield Company Limited
- Blackcopper Service Limited
- Blue Ridge Microfinance Bank Limited
- Branch International Financial Services Limited
- CarbOn Microfinance Bank Limited
- Consynergy Limited
- Credit Tech Lending Company
- Creditville Microfinance Bank Ltd
- Creditwave Finance Limited
- Crevance Credit Limited
- Csense Limited
- Crossroads E-Payment Systems Limited
- Doverty Technologies Limited
- Easycheck Finance Investment Limited
- Edmond Solutions Company Limited
- Eric Vsta Limited
- Econ Mart Fintech Limited
- Fairmoney Micro Finance Bank
- Finesest Limited
- Fluna Capital Limited
- Flo Wood Lending
- Fubri Century Company Limited
- Giasun Technology Nigeria Limited
- Golatech Credit Limited
- Goharvest International Limited
- Grolatech Credit Limited
- Highcredit Nigeria Limited
- Hollandale Nigeria Limited
- Hometown Fintech Limited
- Ibs Golden Investment Company Limited
- Irorun Technologies Limited
- Jm Rubinus Limited
- Keenest Tech Service Limited
- Kiowope Capital Limited
- Lantana Technology Limited
- Letshego Microfinance Bank Ltd
- Liberty Assured Limited
- Linkpark Technology Nigeria Limited
- Mangnet Lending Limited
- Maven Finance Limited
- Maywood Lending Limited
- Menacred Company Limited
- Mino Sparks Limited
- Neo-Link Technology Company Limited
- New Credage Nigeria Limited
- Newedge Finance Limited
- NexxtPayday Limited
- Niz Services Limited
- Orange Loan & Purple Credit Limited
- Otp Internet Technology Limited
- Oxymon Solution Limited
- P2vest Technology Limited
- Papichou Technology Limited
- Paycredit Limited
- Payhippo Limited
- Paylater Hub Limited
- Pay Financial Technology Service Limited
- PenaId Limited
- Phoenix Payment Solution Limited
- Piska Tech Nigeria Limited
- Primera Microfinance Bank
- Princep Credit System Limited
- Prosperity Archipelago Limited
- Provest Limited
- Quark Financial Nigeria Limited
- Quickcheck Nigeria Limited
- Raceova Nig. Limited
- Ragekay Global Investment Limited
- Rankcapital Limited
- Red Harbor Fintech Limited
- Red Planet Nigeria Limited
- Renmoney Microfinance Bank Limited
- Regxta Global Service Ltd
- Rock Financials Limited
- Rockit Lenders Nigeria Limited
- RubyStar Global Limited
- Singular Technology Nigeria Ltd
- Skitloan Nigeria Limited
- Sycamore Integrated Solutions Limited
- Swipebill Technologies Nigeria Limited
- Tajow Investment
- Ta Prime Limited
- Ted Rocket Limited
- Trade Depot
- Trade Lenda Com Limited
- Trafalgar Associate Limited
- UnI Technology Nigeria Ltd
- Ucplus Advance Limited
- Value Driver Technology Solution Limited
- Veendhq Limited
- Windville Financial Nigeria Limited
- Xgo Finance Limited
- Yes Credit Company Limited
- Yegon Tech Limited
Conclusion
The concerted efforts of regulatory bodies like the FCCPC and CBN have reshaped the digital lending landscape in Nigeria. By approving a diverse range of loan apps, borrowers now have access to safe, reliable, and convenient financial assistance. This regulatory framework not only fosters healthy competition but also upholds the rights and protections of borrowers, ushering in a new era of financial empowerment in Nigeria.
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