List of 170 Registered Online Loan Apps Approved By CBN 2023

There is a saying that most Nigerian workers can’t “take them home” with the money they earn, so most of them have to find other ways to make money to meet their needs.

This probably explains why the number of loan application sites is growing so quickly, but many have been found to only make promises and not follow through.

Others who actually lend money to their clients have turned into “loan sharks” and use unorthodox ways to go after their clients, who may not pay back their loans because there is usually no collateral.

But despite all of this, Finwealthonline says that there are some banks that offer loan services that have been approved by the Central Bank of Nigeria (CBN). These banks can give “payday” loans to workers, especially those who get paid every month.

Payday loans are short-term loans where a lender gives you credit with high interest based on how much money you make (but some banks offer to both salary earners and non-salary earners).

The CBN says, “You don’t have to know anyone. Just go to the portal, fill out the form, and send your information.” If your information is correct, you would be able to get loans if you meet the rules.

Here are some payday loan services that banks in Nigeria offer that Nigerians who need cash quickly for bills can look into.

Which loan apps are registered with the cbn?

The Federal Government announced that it has approved 173 applications for digital lending in Nigeria.

According to the Federal Competition and Consumer Protection Commission (FCCPC), 54 loan applications were granted conditional approval while 119 were granted full approval.

After years of harassment and intimidation allegedly perpetrated by some loan app companies against Nigerians, the FCCPC has taken action. The agency issued a “Limited Interim Regulatory/ Registration Framework and Guidelines for Digital Lending 2022” in order to regulate the digital lending market and mandate registration and certification for companies wishing to operate in the sector.

The commission published a list of approved apps that can operate in the country on April 4. In Nigeria, businesses without approvals will be unable to operate.

Commission-approved loan applications include, among others, those from Branch International Financial Services Limited, Fairmoney Micro Finance Bank, Pivo Technology Limited, Renmoney Microfinance Bank Limited, Carbon Microfinance Bank Limited, and Creditwave Finance Limited.

READ ALSO: 100+ Best Micro Finance Bank Loan For Salary Earners in Nigeria 2023

Google will remove unapproved loans from the Play Store, making them unavailable for installation. You will get to know the released list of online loan app approved by cbn in this article.

List of CBN Licensed Loan Apps in Nigeria

The Central Bank of Nigeria (CBN) is in charge of regulating and keeping an eye on Nigeria’s financial sector. As part of its job, the CBN has given permission for several loan apps to work in Nigeria and help people with their money. In this article, we’ll talk about some of the loan applications that the CBN said were okay.

List of loan Apps Approved by CBN

FULLY APPROVED LOAN APP BY CBN

  1. SYCAMORE INTEGRATED SOLUTIONS LIMITED
  2. TRADE DEPOT
  3. TAJOW INVESTMENT
  4. BLUE RIDGE MICROFINANCE BANK LIMITED
  5. GROLATECH CREDIT LIMITED
  6. BRANCH INTERNATIONAL FINANCIAL SERVICES LIMITED
  7. P2VEST TECHNOLOGY LIMITED
  8. CREDITWAVE FINANCE LIMITED
  9. KEENEST TECH SERVICE LIMITED
  10. FAIRMONEY MICRO FINANCE BANK
  11. ALTRACRED FINANCE INVESTMENT LIMITED
  12. CREVANCE CREDIT LIMITED
  13. MENACRED COMPANY LIMITED
  14. AFROWIDE DEVELOPMENT LTD
  15. RED PLANET NIGERIA LIMITED
  16. AFROFIRST MOBILE AND TECHNOLOGY COMPANY LIMITED
  17. RANKCAPITAL LIMITED
  18. IBS GOLDEN INVESTMENT COMPANY LIMITED
  19. LENDVISERY SERVICES LIMITED
  20. RENMONEY MICROFINANCE BANK LIMITED
  21. SWIPEBILL TECHNOLOGIES NIGERIA LIMITED
  22. HOMETOWN FINTECH LIMITED
  23. GIASUN TECHNOLOGY NIGERIA LIMITED
  24. BE RESOURCES LIMITED
  25. ROCKIT LENDERS NIGERIA LIMITED
  26. PIVO TECHNOLOGY LIMIED
  27. YES CREDIT COMPANY LIMITED
  28. IRORUN TECHNOLOGIES LIMITED
  29. CSENSE LIMITED
  30. SUPREME HELP COOPERATIVE SOCIETY LIMITED
  31. ORCOM AND ORCOM BUSSINESS SUPORT LIMITED
  32. PAYHIPPO LIMITED.
  33. EASYCHECK FINANCE INVESTMENT LIMITED
  34. QUARK FINANCIAL NIGERIA LIMITED
  35.  EDMOND SOLUTIONS COMPANY LIMITED
  36. TED ROCKET LIMITED
  37. PENAID LIMITED
  38. ARVE LIMITED
  39. DOVER CREDIT LIMITED
  40.  RAGEKAY GLOBAL INVESTMENT LIMITED
  41.  MAYWOOD LENDING LIMITED
  42. LINKPARK TECHNOLOGY NIGERIA LIMITED
  43.  MANGNET LENDING LIMITED
  44. RUBYSTAR GLOBAL LIMITED
  45. BESTFIN NIGERIA LIMITED
  46. FUBRI CENTURY COMPANY LIMITED
  47. BERLY SPRING GLOBAL LIMITED
  48. ROCK FINANCIALS LIMITED
  49. PHOENIX PAYMENT SOLUTION LIMITED
  50. VALUE DRIVER TECHNOLOGY SOLUTION LIMITED
  51. NEXTPAYDAY LIMITED
  52. BLACKCOPPER SERVICE LIMITED
  53. TRAFALGAR ASSOCIATE LIMITED
  54. WINDVILLE FINANCIAL NIGERIA LIMITED
  55. ORANGE LOAN & PURPLE CREDIT LIMITED
  56. CARBON MICROFINANCE BANK LIMITED
  57. NEO-LINK TECHNOLOGY COMPANY LIMITED
  58. FINNEW FINTECH LIMITED
  59. OTP INTERNET TECHNOLOGY LIMITED
  60. RED HARBOR FINTECH LIMITED
  61.  PAYLATER HUB LIMITED
  62. SKITLOAN NIGERIA LIMITED
  63. RACEOVA NIG. LIMITED
  64. NEW CREDAGE NIGERIA LIMITED
  65. BETTERLENDING COMPANY LIMITED
  66. FAST-POINT INTERGRATED LIMITED
  67. APEX LENDING LIMITED
  68. PISKA TECH NIGERIA LIMITED
  69. PRINCEP CREDIT SYSTEM LIMITED
  70. OMALEND SERVICE LIMITED
  71. POCKFUL FINANCE LIMITED
  72. HIGHCREDIT NIGERIA LIMITED
  73. HOLLANDALE NIGERIA LIMITED
  74. PAY FINANCIAL TECHNOLOGY SERVICE LIMITED
  75. A1 CAPITAL SOLUTION LIMITED
  76. NEWEDGE FINANCE LIMITED
  77. PAPICHOU TECHNOLOGY LIMITED
  78. GOHARVEST INTERNATIONAL LIMITED
  79. MINO SPARKS LIMITED
  80. XGO FINANCE LIMITED
  81. PRIMERA MICROFINANCE BANK
  82. CREDIT TECH LENDING COMPANY
  83. PROSPERITY ARCHIPELAGO LIMITED
  84. FINESEST LIMITED
  85. SINGULARITY TECHNOLOGY NIGERIA LTD
  86. ECON MART FINTECH LIMITED
  87. PENNEE TECHNOLOGIES LIMITED
  88. OXYMON SOLUTION LIMITED
  89. LANTANA TECHNOLOGY LIMITED
  90. APPLINK CAPITAL NIGERIA LIMITED
  91. YEGON TECH LIMITED
  92. FEZOTECH NIGERIA LIMITED
  93. ERIC VSTA LIMITED
  94. MOBLASPAY COMPANY LIMITED
  95. PAYCREDIT LIMITED
  96. NIZ SERVICES LIMITED
  97. MINO SPARKS LIMITED
  98. FLO WOOD LENDING
  99. LIBERTY ASSURED LIMITED
  100. UNI TECHNOLOGY NIGERIA LTD
  101. TRADE LENDA COM LIMITED
  102. CREDITVILLE MICROFINANCE BANK LTD
  103. LETSHEGO MICROFINANCE BANK LTD
  104. KIOWOPE CAPITAL LIMITED
  105. VEENDHQ LIMITED
  106. UCPLUS ADVANCE LIMITED
  107. MAVEN FINANCE LIMITED
  108. AELLA FINANCIAL SOLUTIONS LIMITED
  109. FLUNA CAPITAL LIMITED
  110. NEWEDGE FINANCE LIMITED
  111. TA PRIME LIMITED
  112. REGXTA GLOBAL SERVICE LTD
  113. PROVEST LIMITED
  114. JM RUBINUS LIMITED
  115. CROSSROADS E-PAYMENT SYSTEMS LIMITED
  116. CONSYNERGY LIMITED
  117. FINTCRED INNOVATION LIMITED
  118. AFROSAY FINTECH LIMITED
  119. MIM FINANCE COMPANY

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CONDITIONAL APPROVAL BY CBN

  1. TRIPODBASE LIMITED
  2. OWOAFARA FINTECH SERVICE
  3. AJAX LENDING LIMITED
  4. THE PLATFORM DIGITAL NETWORK LIMITED
  5. ZIPPY CAPITAL LIMITED
  6. LENDING EDGE LIMITED
  7. LENDHA TECHNOLOGIES LIMITED
  8. DOJA LEMAIRE GLOBAL LIMITED
  9. PAYDAYHUB ONLINE NIGERIA LIMITED
  10. RETAIL BOOSTER LIMITED
  11. CITADELE CAPITALS LIMITED
  12. FEWCHORE FINANCE COMPANY LIMITED
  13. ONE PAYOUT LIMITED
  14. LIDYA GLOBAL LIMITED
  15. KWABA INTERNATIONAL LIMITED
  16. FINPADI TECHNOLOGIES LIMITED
  17. UMBA DIGITAL SOLUTIONS LIMITED
  18. FINTRADE SOLUTIONS LIMITED
  19. U TECHNOLOGY
  20. STELLAR FINANCE LIMITED
  21. DASH INNOVATIONS
  22. GRIT-TECH LIMITED
  23. CAELUM TECHNOLOGIES LIMITED
  24. U THINKING NIGERIA LIMITED
  25. EATON HILL INVESTMENT LIMITED
  26. CREDITPRO BUSINESS SUPPORT SERVICES LTD
  27. MUSKA TECH LIMITED
  28. HELPPO AFRICA LIMITED
  29. RENNERS INVESTMENT LIMITED
  30. PEBBLE FINANCIAL TECH. LIMITED
  31. KIAKIA BITS LIMITED
  32. WEALTHBRIDGE CAPITAL PARTNERS LIMITED
  33. TRIVISTA CAPITAL LIMITED
  34. ATIMI LENDING LTD
  35. ZUVY TECHNOLOGIES LIMITED
  36. ROCKSHIELD MICROFINANCE
  37. DOT MICROFINANCE BANK LIMITED
  38. ALLAWEE TECHNOLOGIES LIMITED
  39. LUCRED TECHNOLOGY LIMITED
  40. NOLT FINANCE LIMITED
  41. SOKO LENDING LIMITED
  42. CITYGATE GLOBAL INVESTMENT LIMITED
  43. OLIVERMEAD INVESTMENT LIMITED
  44. LIGHTING FINANCE TECHNOLOGY NIGERIA LIMITED
  45. MENO FINANCE LIMITED
  46. HOIL INVESTMENT LIMITED.
  47. KIREDI ROCK COMPANY LTD
  48. GLOSH TECH LIMITED
  49. CLEMO FRESH CO. LTD
  50. PASSECO TECHNOLOGY NIG. LTD
  51. TRUST CEN LIMITED
  52. RIVERBANK PARTNERS LIMITED
  53. PRIME AVIS INVESTMENT SERVICES LIMITED
  54. RIVERBRAND TECHNOLOGY LIMITED
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Loan Apps Approved by CBN

Let’s discuss about some of these Loan Applications;

1. Carbon Loan

Carbon (formerly Paylater): Carbon is one of the most popular loan apps in Nigeria, and the CBN has given its approval. Carbon makes it easy to get loans of up to N500,000 and gives you up to 12 months to pay them back. Carbon also has other financial services, like paying bills, buying airtime, and investing.

2. FairMoney Loan

FairMoney is another loan app that the CBN has approved. FairMoney offers loans of up to N500,000 with interest rates as low as 10% per month. The process of applying for a loan is quick, and if you are approved, you can get your money in just a few minutes. FairMoney also lets you buy airtime, pay bills, and make investments, among other things.

3. KwikMoney Loan

KwikMoney is a loan app that has been given the green light by the CBN. KwikMoney offers quick loans of up to N500,000 that can be paid back in different ways. The loan application process is easy, and if you are approved, you can get your loan in just a few minutes. KwikMoney also lets you buy airtime, pay bills, and make investments, among other things.

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4. Branch Loan

Branch is a loan app that has been approved by the Central Bank of Nigeria (CBN). Branch gives out loans of up to N500,000 that can be paid back over a period of up to 15 months. The process of applying for a loan is quick and easy, and you can get the money as soon as you get approved. Branch also has other financial services like buying airtime, paying bills, and investing.

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5. Renmoney Loan

Renmoney is a loan app that has been given the green light by the CBN. Renmoney offers personal loans of up to N6,000,000, which can be paid back over as long as 24 months. The loan application process is quick and easy, and if you are approved, you can get the money within 24 hours. Renmoney also lets you pay bills and make investments, among other things.

6. PalmCredit Loan

PalmCredit is a loan app that has been approved by the Central Bank of Nigeria (CBN). PalmCredit offers loans of up to N100,000 that can be paid back over a period of up to 12 months. The process of applying for a loan is quick and easy, and you can get the money as soon as you get approved. PalmCredit also has other financial services, like buying airtime, paying bills, and investing.

READ ALSO: Easiest $255 Payday Loans Online Same Day No Credit Check

7. Aella Credit Loan

Aella Credit is a loan app that has been approved by the Central Bank of Nigeria (CBN). Aella Credit offers loans of up to N1,000,000 with flexible payment plans of up to 12 months. The process of applying for a loan is quick and easy, and you can get the money as soon as you get approved. Aella Credit also offers services like buying airtime, paying bills, and making investments.

8. Quick Funding from GTBank

Whether you work for a company or for yourself, you can get cash right away from GT Bank quick credit and pay it back over 6 to 12 months. Quick Credit will lend you up to N5 million at a monthly interest rate of 1.5%. You don’t have to put anything up as collateral, and there are no hidden fees.

You can get QuickCredit right away by calling *737*51*51#, going to their website, or using the bank’s app.

The least you can get is N10,000, and the most you can get is N5 million if you get a salary and N500,000 if you don’t.

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9. Payday Loan from Access Bank

Access Bank PayDay Loans can be used by dialing *901*11*1# or by using Internet Banking, WhatsApp Banking, the Access Mobile App, or the QuickBucks App.

It gives customers a way to get a loan right away (both salary and non-salary earners). With Payday Loan, you can get a loan with a low interest rate and without putting up any paperwork or collateral.

It can be used for up to thirty-one (31) days.

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Access Bank Payday Loans have a 5% interest rate. A 1% management fee and 0.3% credit life insurance are also taken out of the loan amount right away.

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Personal Loan Against Salary Service from First Bank

People who want to use this service must have a salary account with First bank.

A customer can borrow up to N500,000, which is limited to 50% of their net monthly salary.

This product can be accessed through FirstBank’s digital channels, such as the *894*11# USSD code or the FirstMobile app, which is FirstBank’s mobile banking app.

The customer has to pay all fees up front when the loan is given out. This includes the 2.5% interest rate and the 1% management fee. The loan amount has to be paid back within 30 days or when the customer gets their next paycheck (whichever comes first).

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10. First loan from First Bank

FirstAdvance is a digital loan with a 30-day term that lets people who are waiting for their salaries to get cash quickly and easily.

The product is made for people who get regular paychecks and whose accounts are with First Bank and who have done so for at least two months.

The customer can get up to N500,000, but only if they make at least 50% of their net monthly salary.

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This product can be accessed through FirstBank’s digital channels, such as the *894*11# USSD code or the FirstMobile app, which is FirstBank’s mobile banking app.

There are no hidden fees for using FirstAdvance. All fees, like the 2.5% interest rate and 1% management fee, are paid up front when the loan is given. The loan amount must be paid back within 30 days or when the borrower gets paid (whichever comes first).

11. Credit from UBA Click

Through its click credit scheme, UBA lets people who get a salary borrow up to 1 Million Naira at an interest rate of 30% per year (2.5% per month) and pay it back easily over 12 months with no hidden fees.

To get the loan, you need a UBA account that gets at least N25,000 deposited into it every month.

There are no forms to fill out because you can use the bank’s USSD code or online banking to apply.

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12. Term Loan from Zenith Bank

Customers with a salary account at Zenith bank can use this service to get up to 60% of their monthly salaries at a rate of 2.16% interest per month.

A management charge of 1% is also paid by the borrower.

To use this loan service, you need an account opening form, one passport photo of an authorized signatory, an introduction letter from your employer on the company’s letterhead, and a Staff identity card.

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13. Quick Cash FCMB

FCMB FastCash is a way to borrow money without paperwork or collateral. It’s a quick loan, and you can apply for it through the mobile app or by texting *329*11#.

Customers can borrow up to N200,000 at a monthly interest rate of 8%, plus a 1% management fee that is paid up front when the loan is given.

The fee for a non-salaried application is 15% up front.

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