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Complete List Of Fccpc, Cbn-Approved Loan Apps In Nigeria For 2025

In Nigeria's rapidly evolving financial landscape, digital lending has become a pivotal component, offering accessible credit solutions to individuals and businesses alike. To ensure consumer protection and maintain industry standards, the Federal Competition and Consumer Protection Commission (FCCPC), in collaboration with the Central Bank of Nigeria (CBN), has instituted a regulatory framework overseeing the operations of digital lending platforms. As of January 2025, several loan applications have received full or conditional approval to operate within Nigeria.

Regulatory Framework for Digital Lending

The FCCPC, in its mandate to safeguard consumer interests, has implemented the Limited Interim Regulatory Framework and Guidelines for Digital Lending 2022. This framework mandates digital money lenders to register and comply with specified operational standards, ensuring transparency, fairness, and data privacy. The registration process categorizes approvals into two: full approval and conditional approval.

Fully Approved Digital Lending Applications

As of the latest update, the following digital lending applications have received full approval from the FCCPC:

1. FastCredit Limited

• App Name: N/A
• Remarks: Licensed by the CBN

2. Greenbond Finance Company Limited

• App Name: N/A
• Remarks: Licensed by the CBN

3. Baines Microfinance Bank Limited

• App Name: N/A
• Remarks: Licensed by the CBN

4. Ekondo Microfinance Bank Limited

• App Name: EK-PAY
• Remarks: Licensed by the CBN

5. Accion Microfinance Bank Ltd

• App Name: N/A
• Remarks: Licensed by the CBN

6. PalmPay Limited

• App Names: PalmPay App, PalmPay Agent App, PalmPay Business App
• Remarks: Licensed by the CBN

7. Newedge Finance Limited

• App Names: Palm Credit App, New Credit App, Easy Buy App, Xcross Cash App, Xcash App
• Remarks: Licensed by the CBN

8. Shepherd Trust Microfinance Bank

• App Name: Neo Cash App
• Remarks: Licensed by the CBN

9. Firmus Microfinance Bank Limited

• App Name: Firmus Mobile App
• Remarks: Licensed by the CBN

10. Cashbridge Digital Limited

• App Name: N/A
• Remarks: Licensed by the CBN

11. Step by Step Microfinance Bank Limited

• App Names: Kashpit, Monifix, Dovekash, Awoofkash, Freshmoni
• Remarks: Licensed by the CBN

12. Corestep Microfinance Bank Limited

• App Names: Corebank Mobile App, Corebank Business App
• Remarks: Licensed by the CBN

13. Oxygen X Finance Company Limited

• App Names: Oxygen X Mobile Application, Oxygen X Web Application
• Remarks: Licensed by the CBN

14. Ishiagu Microfinance Bank Limited

• App Names: AidaCredit App, AidaMoni
• Remarks: Licensed by the CBN

15. Blooms Microfinance Bank Limited

• App Name: Pal Loan App
• Remarks: Licensed by the CBN

16. Flexi Microfinance Bank

• App Names: FlexiBank App, FlexiCredit App
• Remarks: Licensed by the CBN

Conditionally Approved Digital Lending Applications

In addition to the fully approved applications, the FCCPC has granted conditional approvals to several digital lending platforms, allowing them to operate under specific conditions pending full compliance. Some of these conditionally approved apps include:

1. Crimson Credit App
2. Galaxy Credit App
3. Ease Cash App
4. XCredit
5. iMoney by Elsner Technology PVT Limited
6. Naira Naija
7. iMoneyPlus-Instant
8. NairaNaija-Instant
9. NowNowMoney
10. Naija Cash
11. Eagle Cash
12. Firstnell App
13. FlyPay
14. Spark Credit
15. SoftNaira App
16. CashDey App
17. NairaLoans-Loans App
18. SwiftCash App
19. NairaLand App
20. Mama Credit Loan App
21. Nigeria Loan App
22. Loan 300,000 Naira in CranCash
23. LinkLoan
24. FairKash Loan
25. Apex Lending

Loan Applications Under Watchlist

The FCCPC has also identified certain loan applications that are under scrutiny due to potential unethical practices. These apps are currently on the commission's watchlist:

1. GetLoan
2. Joy Cash-Loan
3. Camelloan
4. CashLawn
5. NairaLoan
6. EagleCash
7. MoneyTreeFinance Made Easy
8. LuckyLoan
9. CashMe
10. SwiftKash
11. Hen Credit Loan
12. Nut Loan
13. Cash Door
14. CashPal
15. NairaEasy Gist Loan
16. SwiftCash
17. EasyNaira
18. SecuCash
19. CreditBox-A