WHY THESE PROBLEMS IN NIGERIA?
1. This micro online loans market is still UNREGULATED by government or authorities like CBN. So, there's large room for all forms of sharp practices.
2. Also, Google is not doing enough to keep the Play Store really safe. So, scam finance apps flood the place.
3. DUBIOUS FOREIGNERS
Many of these apps are run by foreigners especially the Chinese. So, they are very intelligent and ready to reap you the freak out!
Quickly, let me state the true ones, the scam ones and the fraudly. In this thread, I will share and link my experiences with them so you can take precautions.
EMERGENCY QUICK HINT: Read real reviews below each app in the play store before you even register or put your information on them. Read at least 20 reviews. Check the names for Nigerian names. This will save your life! You will see what people are saying about them. And you can run for your life if need be.
- Red signal: bad reviews
Below are the dubious attributes of the scam and fraudly loan apps:
1. Unreasonably high and crazy Interest Rate
2. Disbursement of unsolicited loans after stealing your data
3. Misusing your data for their scams (many apps sweep all your contacts and save them for use later)
4. Mishandling your data in unsafe manner (like saving your credit card or biodata like BVN in plain text) with reckless abandon
5. Blackmail: sending threatening messages to all your contacts in case they want to pressure you to pay up whatever they want you to pay, or in case of default or perceived default. They tag you as fraudster on the run with company money. They send messages to all on your phone book.
This is wrong!
6. Unauthorized debits into your account FOREVER. My court case with NGN Loan app by CashBox on Google Play Store is still loading. These fraud guys practically start sweeping your account regularly forever!
7. Unsolicited SPAM marketing messages
8. Unsafe apps behaviours and permissions (many apps request permissions that will eventually harm you or your data or device)
9. Deceptive terms and behaviours: many fraudulent apps promised to disburse say 10k, you end up signing up, then you get like 3k, then they tell you the rest 70% is charges. Omg! Who does that? That's fraud!
10. Outrightly illegal activities by foreigners like Chinese. I have reliable intel that many of those Apps are run by foreigners especially the Chinese. EFCC, take note.
NOW, let me state the true ones, the scam ones and the fraudly.
TRUE AND SAFE LOAN APPS:
Please use Branch, Fair Money, Carbon (PayLater), PalmCredit, PageFinance, Zedvance, Migo, EasyCredit, NCash and some others. I recommend these ones as safe and true.
SCAM AND FRAUDULENT LOAN APPS:
These ones are out there primarily to steal from you directly or indirectly. Stay the h.ell away from these apps:
All apps by the developer CashBox on Google Play Store are FRAUD! They will sweep all your money even without giving you a dime! They include: NGN Loan, Naira Cash, Naira Land, Mobile Cash, Super Loan, Cash Express and Portable Loan. All these are mistakes of one's life once you put your BVN and card details.
I have experience with them so I know what I'm saying. I will share all screenshot and evidence in this thread. I don't want others to fall victim of their scam.
Over 100,000 poor Nigerians in need of small financial loans have downloaded CashBox scam apps (see photo below) on Google Play Store and have been defrauded of about 1 billion Naira plus so far. EFCC should take steps and investigate my claim. Without disbursing 1 kobo, these guys swept every Kobo from my account from the day I downloaded and filled up their app with details to test their service. And until I cancelled the card, the debits go on for months.
Read the real human reviews under those Apps to confirm.
CashBox-developed apps will never give you loan but will start sweeping your account forever until you have nothing left. And they will debit again any day money enters. Please block your card if you have ever downloaded and filled these apps below or listed. Your money is not safe!
Some apps may still give you loan but the overall modus operandi is fraud and cheating! Stay away from them: Flash Cash, for example. Flash Cash is run by Chinese and please read the reviews under the app in play store! Very dubious app.
LIFESAVING STEP FIRST: READ REVIEWS!!!
Before I continue, a quick lifesaving step, irrespective of how desperately you need a micro loan, is to take time and read reviews before even downloading. This will save you many stress.
I have experience with them all. See attached evidences.
ANY ALTERNATIVES?
Apart from these micro instant loan apps, what alternatives do we have? Your bank!
Many banks now have instant loan codes and these instant loans are cheaper. I will share another article on these.
Stay tuned and comment.
In The City Just Make Money
And Pray Not To Die Young
hah 
