Are you looking for the most reliable and secure loan apps in Nigeria that are approved by the Central Bank of Nigeria (CBN)? If yes, then this detailed guide is for you.
In 2025, the number of online lending platforms in Nigeria has grown rapidly, but only a few are CBN-licensed and safe to use. This article covers everything you need to know about the top 20 loan apps in Nigeria approved by CBN, including their features, loan limits, interest rates, repayment terms, and how to apply.
By the end of this article, you’ll know the best CBN-approved loan apps that offer fast approval, instant disbursement, and fair interest rates.
Why You Should Use Top 20 Loan Apps Approved by CBN
Using a loan app that is approved by the CBN gives you peace of mind. These platforms follow financial regulations, protect your data, and are less likely to harass you over repayments.
Here’s why you should always go for CBN-approved loan apps:
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Your BVN and financial data are secure
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No illegal interest rate hikes
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No public shaming or harassment
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Transparent terms and conditions
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Dispute resolution support through regulatory channels
What Is the Role of CBN in Regulating Top 20 Loan Apps?
The Central Bank of Nigeria (CBN) licenses and regulates financial institutions, including digital lenders. Loan apps that operate under a Microfinance Bank (MFB) license or via partnership with licensed institutions are legally approved.
CBN collaborates with:
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NDIC (Nigeria Deposit Insurance Corporation)
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FCCPC (Federal Competition and Consumer Protection Commission)
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NITDA (National Information Technology Development Agency)
Together, they crack down on unregistered loan apps that violate users’ rights.
How to Know if a Loan App Is CBN Approved
To identify CBN-approved loan apps in Nigeria, check if:
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The app lists a licensed microfinance bank as its lender
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The app appears on the FCCPC’s registered lenders list
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It clearly shows its operating license or RC number
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It avoids blackmail, defamation, or unethical practices
Top 20 Loan Apps in Nigeria Approved by CBN (2025)
Below are the most reliable CBN-approved loan apps Nigerians can trust in 2025 for fast, legal, and secure loans:
1. Carbon (Formerly Paylater)
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Regulated by: One Finance & Investment Limited
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Loan Range: ₦5,000 – ₦1,000,000
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Tenure: Up to 6 months
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Interest Rate: 5% – 30%
Carbon is one of Nigeria’s most trusted loan apps, fully licensed and secure.
2. Branch
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Regulated by: Branch International Financial Services
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Loan Range: ₦2,000 – ₦500,000
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Tenure: 62 to 180 days
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Interest Rate: 15% – 34%
Branch offers loans without collateral and reports to credit bureaus.
3. FairMoney
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Regulated by: FairMoney MFB
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Loan Range: ₦1,500 – ₦1,000,000
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Tenure: 1 to 18 months
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Interest Rate: 10% – 30%
A fast-disbursing app with a full banking license.
4. PalmCredit
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Regulated by: Newedge Microfinance Bank
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Loan Range: ₦2,000 – ₦100,000
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Tenure: 14 – 180 days
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Interest Rate: 15% – 24%
Known for quick approval and a good user interface.
5. Renmoney
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Regulated by: Renmoney MFB
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Loan Range: ₦6,000 – ₦6,000,000
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Tenure: 3 – 24 months
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Interest Rate: 2.5% – 35%
Offers larger loans and requires employment verification.
6. QuickCheck
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Regulated by: Arve Limited
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Loan Range: ₦1,500 – ₦500,000
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Tenure: 1 – 12 months
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Interest Rate: 2% daily (reduces with trust)
Popular among young borrowers.
7. Aella Credit
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Regulated by: Aella Financial Solutions
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Loan Range: ₦1,500 – ₦1,000,000
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Tenure: 1 – 3 months
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Interest Rate: 6% – 20%
Simple app for instant salary-based loans.
8. Kuda Bank Overdraft
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Regulated by: Kuda Microfinance Bank
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Loan Range: ₦1,000 – ₦200,000 (Overdraft)
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Tenure: Up to 30 days
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Interest Rate: 0.3% daily
Only active users with salary inflow are eligible.
9. Migo
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Regulated by: Migo Microfinance Bank
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Loan Range: ₦5,000 – ₦500,000
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Tenure: 1 – 60 days
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Interest Rate: Variable
Embedded in USSD for MTN and 9mobile.
10. OKash (Opay Loans)
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Regulated by: Blue Ridge MFB
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Loan Range: ₦3,000 – ₦500,000
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Tenure: 7 – 90 days
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Interest Rate: 10% – 35%
Integrated within the Opay app.
11. Umba
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Regulated by: Umba Digital Bank
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Loan Range: ₦2,000 – ₦200,000
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Tenure: Short term
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Interest Rate: 10% – 33%
Focused on low-income earners.
12. ALAT by Wema (Quick Loan)
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Regulated by: Wema Bank
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Loan Range: ₦5,000 – ₦2,000,000
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Tenure: 3 – 24 months
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Interest Rate: From 2%
You must have a salary account to qualify.
13. GTWorld QuickCredit
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Regulated by: GTBank
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Loan Range: ₦10,000 – ₦5,000,000
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Tenure: Up to 12 months
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Interest Rate: 1.5% monthly
One of the most trusted bank-based loan services.
14. Access More App (QuickBucks)
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Regulated by: Access Bank
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Loan Range: ₦5,000 – ₦5,000,000
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Tenure: 3 – 24 months
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Interest Rate: 5% – 35%
Requires an Access Bank account.
15. Zedvance
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Regulated by: Zedvance Finance Limited
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Loan Range: ₦50,000 – ₦5,000,000
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Tenure: 1 – 18 months
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Interest Rate: Based on salary and tenure
Mostly for salary earners and business owners.
16. Specta by Sterling Bank
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Regulated by: Sterling Bank
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Loan Range: ₦10,000 – ₦5,000,000
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Tenure: 1 – 12 months
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Interest Rate: From 2% monthly
Requires BVN and active salary account.
17. Baobab Microfinance Bank
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Regulated by: Baobab MFB
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Loan Range: ₦10,000 – ₦1,000,000
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Tenure: 1 – 12 months
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Interest Rate: 8% – 30%
Focuses on SMEs and traders.
18. CreditVille
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Regulated by: CreditVille Limited
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Loan Range: ₦50,000 – ₦4,000,000
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Tenure: 1 – 18 months
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Interest Rate: 10% – 30%
Used for personal or business loans.
19. Page Financials
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Regulated by: Page MFB
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Loan Range: ₦100,000 – ₦5,000,000
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Tenure: 3 – 12 months
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Interest Rate: 2.5% – 5% monthly
Best for professionals with steady income.
20. Moniepoint (Business Loans)
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Regulated by: Moniepoint MFB
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Loan Range: ₦20,000 – ₦1,000,000
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Tenure: Flexible
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Interest Rate: Based on transaction history
Loans targeted at POS agents and merchants.
Summary Table: Top 20 CBN-Approved Loan Apps in Nigeria (2025)
| Loan App | Regulated By | Loan Range | Tenure | Interest Rate | Special Features |
|---|---|---|---|---|---|
| Carbon | One Finance & Investment Ltd | ₦5,000 – ₦1,000,000 | Up to 6 months | 5% – 30% | Instant loans, BVN secured |
| Branch | Branch International | ₦2,000 – ₦500,000 | 62 – 180 days | 15% – 34% | Collateral-free, credit bureau reporting |
| FairMoney | FairMoney Microfinance Bank | ₦1,500 – ₦1,000,000 | 1 – 18 months | 10% – 30% | Full banking license |
| PalmCredit | Newedge Microfinance Bank | ₦2,000 – ₦100,000 | 14 – 180 days | 15% – 24% | Simple app, quick disbursement |
| Renmoney | Renmoney MFB | ₦6,000 – ₦6,000,000 | 3 – 24 months | 2.5% – 35% | Employment verification required |
| QuickCheck | Arve Ltd | ₦1,500 – ₦500,000 | 1 – 12 months | ~2% daily | Smart algorithm-based approval |
| Aella Credit | Aella Financial Solutions | ₦1,500 – ₦1,000,000 | 1 – 3 months | 6% – 20% | No BVN required initially |
| Kuda Overdraft | Kuda Microfinance Bank | ₦1,000 – ₦200,000 | Up to 30 days | 0.3% daily | For salary earners only |
| Migo | Migo Microfinance Bank | ₦5,000 – ₦500,000 | 1 – 60 days | Variable | Works via MTN & 9mobile USSD |
| OKash (Opay) | Blue Ridge Microfinance Bank | ₦3,000 – ₦500,000 | 7 – 90 days | 10% – 35% | Inside Opay app |
| Umba | Umba Digital Bank | ₦2,000 – ₦200,000 | Short term | 10% – 33% | Ideal for low-income earners |
| ALAT by Wema | Wema Bank | ₦5,000 – ₦2,000,000 | 3 – 24 months | From 2% | Salary account required |
| GTWorld QuickCredit | GTBank | ₦10,000 – ₦5,000,000 | Up to 12 months | 1.5% monthly | Bank-integrated loan service |
| Access QuickBucks | Access Bank | ₦5,000 – ₦5,000,000 | 3 – 24 months | 5% – 35% | Requires Access Bank account |
| Zedvance | Zedvance Finance Ltd | ₦50,000 – ₦5,000,000 | 1 – 18 months | Salary-based | Business and salary earners |
| Specta | Sterling Bank | ₦10,000 – ₦5,000,000 | 1 – 12 months | From 2% monthly | BVN + salary account needed |
| Baobab MFB | Baobab Microfinance Bank | ₦10,000 – ₦1,000,000 | 1 – 12 months | 8% – 30% | Great for SMEs and traders |
| CreditVille | CreditVille Limited | ₦50,000 – ₦4,000,000 | 1 – 18 months | 10% – 30% | Business & personal loans |
| Page Financials | Page Microfinance Bank | ₦100,000 – ₦5,000,000 | 3 – 12 months | 2.5% – 5% monthly | For professionals with steady income |
| Moniepoint Loans | Moniepoint MFB | ₦20,000 – ₦1,000,000 | Flexible | Transaction-based | Targeted at POS agents & merchants |
Loan Apps in Nigeria That Don’t Require BVN (2025)
While most CBN-approved loan apps require BVN for identity verification, a few platforms allow new users to access loans without submitting a BVN at first.
Here are some of the best loan apps without BVN in Nigeria:
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Aella Credit – Offers BVN-free onboarding and low-limit loans
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Umba – Ideal for low-income earners; doesn’t request BVN at signup
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QuickCheck – May allow micro-loans without BVN depending on your device data
⚠️ Note: You’ll need to provide your BVN for higher loan limits or long-term usage on most platforms.
Benefits of Using CBN-Approved Loan Apps in Nigeria
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Regulated by the government
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Fair and transparent interest rates
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No unethical debt collection practices
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Better dispute resolution process
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Legal protection under Nigerian law
Loan Apps in Nigeria That Don’t Require BVN (2025)
While most CBN-approved loan apps require BVN for identity verification, a few platforms allow new users to access loans without submitting a BVN at first.
Here are some of the best loan apps without BVN in Nigeria:
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Aella Credit – Offers BVN-free onboarding and low-limit loans
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Umba – Ideal for low-income earners; doesn’t request BVN at signup
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QuickCheck – May allow micro-loans without BVN depending on your device data
Note: You’ll need to provide your BVN for higher loan limits or long-term usage on most platforms.
FAQs on Top Loan Apps in Nigeria Approved by CBN
Which loan app is the safest in Nigeria?
Carbon, FairMoney, and Branch are among the safest — all CBN-licensed.
How do I know a loan app is CBN approved?
Look for license info in the app, or check the FCCPC official list.
What is the maximum loan I can get?
It depends on the app, your credit score, and history. Some offer up to ₦5 million.
Do CBN-approved loan apps call your contacts?
No. CBN and FCCPC ban this practice.
Can I get a CBN-backed loan without collateral?
Yes. Most of these apps give loans without collateral but require BVN and identity verification.
Final Thoughts on Top 20 Loan Apps in Nigeria Approved by CBN (2025)
Using a CBN-approved loan app in Nigeria gives you more than money — it gives you peace of mind. You don’t have to worry about hidden charges, data breaches, or harassment.
Whether you’re a student, salary earner, small business owner, or just someone facing an emergency, the top 20 loan apps in Nigeria approved by CBN in 2025 listed above will help you get secure loans with fast approval and clear terms.
Make sure to read the terms carefully, repay on time, and only borrow what you can afford.