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The Central Bank of Nigeria (CBN) has banned multiple fraudulent loan applications that have exploited innocent Nigerians.
The federal government supported this decision, deeming these applications unlawful and a threat to society owing to their misleading practices.
These illegal lending applications have caused tremendous anguish by harassing users and victims.
Notably, these applications operate outside the legal framework because they are not registered with the federal government and have now been officially banned.
The proliferation of bogus loan applications is a critical issue in the digital age when the convenience and allure of online lending platforms have sadly opened the way for fraudulent activity.
Scammers behind these applications entice people with the promise of easy loan approvals and speedy money transfers, primarily targeting those with bad credit or limited access to established financial institutions.
Victims, who are typically in terrible financial problems, are misled into providing personal and financial information in the hopes of obtaining a loan.
This sensitive information is subsequently utilized for identity theft, financial fraud, and other unlawful acts, leaving people exposed and financially stressed.
The CBN’s crackdown on these fraudulent applications demonstrates a commitment to protecting individuals from digital financial crimes while also providing a secure environment for genuine online financial transactions.
Here are the list of fake loan apps that have been blacklisted by the CBN:
EasyCredit
EasiMoni
KashKash
Speedy Choice
GoCash
Soko Loan App
Fast Money
GetCash
Icoin Loan
Naira Plus
9jaCash
LionCash
GMoney
Fast Money
9credit
Swiftkash App
Hen Credit Loan App
Cash Door App
Joy Cash-Loan App
Eaglecash App
Luckyloan Personal Loan App
Getloan App
Easeloan Apps
Naira Naija
Cashlawn App
Easynaira App
Crediting App
Yoyi App
Nut Loan App
Cashpal App
Nairaeasy Gist Loan App
Camelloan App
Nairaloan App
Moneytreefinance Made Easy App
Cashme App
Secucash App
Creditbox App
Cashmama App
Crimson Credit App
Galaxy Credit App
Ease Cash App
Xcredit
Imoney
Naira Naija
Imoneyplus-Instant
Nairanaija-Instant
Nownowmoney
Naija Cash
Eagle Cash
Firstnell App
Flypay
Spark Credit
Luckyloan Personal Loan App
In other news, Bayo Onanuga, a presidential adviser, has urged Nigerians who are keeping dollars in their possession to sell them as soon as possible to avert financial ruin.
The Special Adviser to President Bola Tinubu on Information and Strategy has warned that the naira is about to rise, and speculators would lose money if they don’t sell their dollar holdings before then.
Onanuga made the remark using his X platform account in response to news that the Central Bank of Nigeria (CBN) had cleared a significant backlog of foreign exchange.
As previously reported, the CBN has cleared the $7 billion foreign exchange (FX) backlog that existed when Yemi Cardoso took over as Governor of the central bank.
Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, revealed this development in a statement on Wednesday.
According to her, all genuine claims have been handled and only those claims proven to be bogus were not paid.
Ali added that the CBN hired an independent auditing company, Deloitte Consulting, to thoroughly review all claims, and any incorrect transactions were sent to competent authorities for further investigation.
In response to the news, Onanuga wrote:
“With backlog FX settled, Naira is set to appreciate further, faster. Currency speculators should quickly dump their stock of dollars to avoid sorrows and tears.”
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