New Loan Apps in Nigeria (2026)

Introduction

New loan apps are launching in Nigeria at a pace that makes it difficult to tell which ones are worth your attention and which ones are best avoided. In the first half of 2026 alone, several digital lenders have gained traction on the Google Play Store and Apple App Store, attracting hundreds of thousands of downloads and generating significant search interest.

This article ranks seven of the most talked-about new loan apps in Nigeria right now: Oxygen X, SingaCash, HiCredit, Irorun, Rocket Loan, Liberty Assured, and LendSafe. For each app, we cover what it offers, who it suits, and, critically, what we can confirm about its safety and regulatory status. If you are considering borrowing from any of these platforms, this is the information you need before you tap "Apply."

Table of Contents

• Why This Ranking Matters
• How We Assessed These Apps
• The 7 New Loan Apps Ranked
• How to Verify Any Loan App Before Borrowing
• Decision Framework: Which App Fits Your Situation?
• nairaCompare Insight
• Frequently Asked Questions
• Disclaimer

Why This Ranking Matters

Nigeria's digital lending market now has over 430 FCCPC-registered operators, up from 173 in early 2023. Several digital lending apps have faced regulatory action, including blacklisting and compliance reviews by the FCCPC. For borrowers, this means the difference between a legitimate lender and an illegal one is no longer obvious from a Play Store listing alone.

The seven apps in this article are all trending in search and downloads, but trending does not automatically mean safe. Some have clear FCCPC approval, some operate under CBN licences, and some require you to do your own verification before borrowing. We break that down for each one so you can make an informed decision rather than a rushed one.

How We Assessed These Apps

We evaluated each app against five criteria. These are weighted to reflect what matters most when you are trusting a platform with your BVN, bank details, and personal data.

• Regulatory status (30%): Does the app appear on the FCCPC approved register, hold a CBN licence, or operate under a licensed entity? This is the single most important factor.
• Transparency (25%): Are interest rates, fees, and repayment terms clearly disclosed before you accept a loan? Are there hidden charges?
• Loan terms (20%): What amounts, tenures, and rates does the app offer? Do the terms suit the borrowers it targets?
• User experience and reputation (15%): What do verified reviews say? Are there consistent complaints about harassment, unauthorised debits, or poor customer service?
• Accessibility (10%): How easy is the onboarding process? What platforms is the app available on? What documents are required?

The 7 New Loan Apps Ranked

1. Oxygen X

Operator: Oxygen X Finance Company Limited (subsidiary of Access Holdings Plc)

Quick stats:

• Loan amount: ₦5,000 to ₦500,000 (first-time limits reportedly higher than most competitors)
• Tenure: Up to 12 months
• Interest: From 2.5% monthly (flat), management fee 1%, credit life insurance 0.9%
• APR: Varies by product; total cost example on a ₦100,000 loan over 3 months is approximately ₦109,485

Regulatory status: Licensed by the Central Bank of Nigeria as a consumer lending finance company. Oxygen X is a rebrand of Quickbucks, previously operated under Access Corporation. This is the strongest regulatory footing of any app on this list.

Why it ranks here: Oxygen X stands apart because it combines institutional backing from one of Nigeria's largest banking groups with a purpose-built digital lending platform. Its AI-driven credit scoring pulls from bank statements and credit bureau data, which typically means more accurate assessments and higher first-time loan limits than apps that rely purely on phone data. The platform also offers investment products with annual returns of up to 24.25%, making it more than a single-purpose loan app.

Best for: Borrowers who want meaningful loan amounts from day one and value the security of a CBN-licensed, bank-backed lender.

What to watch: Interest rates and fees add up. The total cost on even a moderate loan can be significant once management fees, insurance, and VAT are factored in. Always review the full repayment figure before accepting.

2. SingaCash

Operator: Abadi Technology Ltd

Quick stats:

• Loan amount: ₦5,000 to ₦480,000
• Tenure: 14 to 90 days
• Interest: Daily rate of 0.08% (approximately 2.4% per month)
• Downloads: Over 100,000 on Google Play
• Rating: 4.6 stars (one of the highest-rated loan apps in Nigeria as of June 2026)

Regulatory status: SingaCash appears on third-party lists of approved lenders, but its exact position on the FCCPC register should be confirmed directly at fccpc.gov.ng before borrowing. It is not on any known blacklist or watchlist.

Why it ranks here: SingaCash has built a strong reputation quickly. Its 4.6-star rating on the Play Store, reported by Nairametrics in their June 2026 top-rated loan apps ranking, suggests consistent user satisfaction. The daily interest rate of 0.08% translates to a competitive monthly cost compared to many peers.

Best for: Short-term borrowers who need amounts up to ₦480,000 and prefer a streamlined, no-collateral process with a relatively low daily rate.

What to watch: The maximum tenure of 90 days is short. If you need longer to repay, this app may not suit your situation. Verify FCCPC approval status independently.

3. HiCredit

Operator: Maywood Lending Limited

Quick stats:

• Loan amount: ₦3,000 to ₦200,000 (up to ₦500,000 reported on App Store listing)
• Tenure: 90 to 360 days
• Interest: 18% to 30% annually (maximum APR 36%)
• Downloads: Over 565,000

Regulatory status: HiCredit operates under Maywood Lending Limited, with a listed office address at 50/52 Toyin Street, Ikeja, Lagos. Its FCCPC registration status should be verified directly, as we could not confirm its position on the approved register at the time of writing.

Why it ranks here: HiCredit offers one of the longer repayment windows among newer loan apps, up to 360 days, combined with annual interest rates that start from 18%. For borrowers who need time to repay, this is more manageable than apps offering only 14- or 30-day tenures. The app is available on both Android and iOS.

Best for: Borrowers who prioritise longer repayment periods and want to build credit history gradually through timely repayments.

What to watch: First-time loan amounts are typically small and increase with repayment history. Some user reviews mention the repayment terms feel short relative to the amounts offered. Confirm FCCPC status before applying.

4. Irorun

Operator: Irorun Technology

Quick stats:

• Loan amount: ₦1,000 to ₦50,000 (up to ₦100,000 referenced on website)
• Tenure: Up to 180 days (60 to 90 days typical)
• Interest: 3% to 5% monthly (maximum APR 36%)
• Created: January 2026

Regulatory status: FCCPC approved. Irorun Mobile App and Irorun Web appear at position 85 on the FCCPC-approved register under Irorun Technology. This is confirmed.

Why it ranks here: Irorun launched in January 2026 and has already built a visible presence. Its FCCPC approval is confirmed, and it explicitly states in its marketing that it will never misuse borrower data or resort to harassment. The app rewards repeat borrowers with higher limits and occasional interest-free promotions. The Yoruba name, meaning "peace of mind," reflects its positioning as a borrower-friendly platform.

Best for: First-time digital borrowers who need small, short-term loans (₦1,000 to ₦50,000) and want the reassurance of a confirmed FCCPC-approved lender.

What to watch: The maximum loan amount of ₦50,000 is low compared to most competitors. This is a micro-lending app, not a platform for larger borrowing needs. Monthly interest of 3% to 5% is moderate but adds up on longer tenures.

5. Rocket Loan

Operator: Kenda Lending Limited

Quick stats:

• Loan amount: ₦5,000 to ₦300,000
• Tenure: 91 to 365 days
• Interest: APR 15% to 24%
• Rating: 4.0 stars on Google Play (approximately 35,000 reviews)

Regulatory status: FCCPC-approved. Kenda Lending Limited appears at position 205 on the 2026 FCCPC-approved register, operating the Century App and Rocket Loan App.

Why it ranks here: Rocket Loan offers a competitive APR range (15% to 24%) and tenures of up to a full year. It is FCCPC-approved, which puts it ahead of several newer apps whose regulatory status remains unclear. The app markets itself on zero additional fees beyond stated interest.

Best for: Borrowers seeking amounts up to ₦300,000 with up to 12 months to repay, at annual rates that are competitive within the digital lending space.

What to watch: User reviews are mixed. Some borrowers report approval difficulties and customer service delays. The Play Store developer information lists a Lagos address, but the associated contact details (a Gmail address) are less professional than what you would expect from a regulated lender. Review terms carefully in-app before accepting.

6. Liberty Assured

Operator: Liberty Tech (trading as Liberty Assured)

Quick stats:

• Loan amount: ₦10,000 to ₦600,000+
• Tenure: Up to 6 months
• Interest: 4% to 13% monthly (APR 48% to 156%)
• Model: Agent-based lending (loans issued through loan agents, not directly through the app)

Regulatory status: Liberty Assured describes itself as a licensed financial institution. It is not a standard app-only lender; loans are facilitated through agents, and borrowers may need guarantors and valid identification. Its specific FCCPC registration status should be verified directly.

Why it ranks here: Liberty Assured occupies a different niche. It targets federal government employees (via Remita salary verification), POS agents, and SMEs. The agent-based model is more structured than a typical "download and apply" loan app, which can be an advantage for borrowers who want human guidance through the process.

Best for: Civil servants, POS agents, and small business owners who can access loans through Liberty's agent network and are comfortable with a guarantor-based model.

What to watch: The monthly interest range of 4% to 13% translates to an APR of 48% to 156%, which is significantly higher than several other apps on this list. The agent-based model also means the borrowing experience depends heavily on the individual agent. Verify FCCPC status and confirm all terms in writing before committing.

7. LendSafe

Operator: Smartloans Integrated Services Limited

Quick stats:

• Loan amount: ₦2,000 to ₦500,000 (₦2,000 to ₦60,000 on the LendSafe Care variant)
• Tenure: 91 to 360 days
• Interest: Maximum APR 36%
• Additional fees: Daily fee of 0.42% on the LendSafe Care variant

Regulatory status: FCCPC-approved. Smartloans Integrated Services Limited appears at position 80 on the FCCPC-approved register, operating several apps including Lend Safe, Hover Loan, Korrect Kash, Lend Joint, and Distro Kash.

Why it ranks here: LendSafe is FCCPC-confirmed and offers the widest borrowing range on this list (₦2,000 to ₦500,000 on the main platform). Smartloans positions LendSafe as its flagship product and emphasises transparent terms and AI-driven credit assessment. The company has a physical office in Abuja.

Best for: Borrowers across a wide range of needs, from micro-loans of ₦2,000 to larger amounts up to ₦500,000, who want a confirmed FCCPC-approved lender with a longer repayment window.

What to watch: The LendSafe Care variant on the Play Store charges a daily fee of 0.42% in addition to interest, which can significantly increase the total repayment amount. Always calculate the full cost using both the interest rate and any daily fees before accepting a loan.

How to Verify Any Loan App Before Borrowing

Before you enter your BVN or bank details into any loan app, take these steps:

1. Check the FCCPC-approved register at fccpc.gov.ng/registration-of-digital-money-lenders. If the app or its parent company does not appear, it is not authorised to lend in Nigeria under the DEON Regulations 2025.
2. Verify the developer name on the Play Store or App Store. The developer should match the registered company. Copycat apps using similar names to legitimate lenders are common.
3. Review app permissions before granting access. Loan apps must not misuse borrowers' personal data or use contacts and private information for harassment or debt-shaming. If an app demands these permissions upfront, uninstall it.
4. Look for a verifiable physical address and customer service contact. Legitimate lenders provide office addresses, phone numbers, and email support during stated hours. Apps listing only a Gmail address or no address at all should be treated with caution.
5. Read the full loan terms before accepting. Check the total repayment amount, not just the headline interest rate. Factor in processing fees, daily fees, insurance charges, and VAT where applicable.
   

Decision Framework: Which App Fits Your Situation?

Choose Oxygen X if you want the highest regulatory assurance (CBN-licensed, Access Holdings-backed) and need a meaningful first-time loan amount. You are comfortable with a total cost that includes management fees and insurance on top of interest.

Choose SingaCash if you need a short-term loan of up to ₦480,000 and want one of the most competitively priced daily rates in the market. You can comfortably repay within 90 days.

Choose HiCredit if you value a longer repayment window (up to 360 days) and want to start small and build your borrowing limit over time. You are willing to verify the operator's FCCPC status independently.

Choose Irorun if you are a first-time borrower who needs a small, quick loan (under ₦50,000) from a confirmed FCCPC-approved lender. You prefer a lender that explicitly commits to no-harassment practices.

Choose Rocket Loan if you want an FCCPC-approved option with up to 12 months to repay and annual rates starting from 15%. You are prepared to review terms carefully in-app given mixed user feedback.

Choose Liberty Assured if you are a civil servant, POS agent, or SME owner who can access loans through an agent network and are comfortable providing guarantors. You understand the higher APR involved.

Choose LendSafe if you want a wide borrowing range from a confirmed FCCPC-approved lender and need up to 360 days to repay. You will calculate the full cost, including any daily fees, before committing.

nairaCompare Insight

The fact that these seven apps are trending does not make them equally safe, and safety is what matters most when a loan app is asking for your BVN, your bank account, and permission to access your phone. Of the seven reviewed here, Irorun, LendSafe, and Rocket Loan have confirmed positions on the FCCPC-approved register, and Oxygen X holds a CBN licence through Access Holdings. For SingaCash, HiCredit, and Liberty Assured, we could not independently confirm FCCPC registration at the time of writing. That does not necessarily mean they are unapproved, but it means you should verify before borrowing. The FCCPC register at fccpc.gov.ng is free to check and takes less than two minutes.

If you are comparing any of these apps against each other, or against more established lenders like FairMoney, Carbon, or Branch, the comparison tool on nairaCompare lets you view rates, terms, and eligibility requirements side by side. The goal is not to borrow fast. It is to borrow well, from a lender you can verify, at a cost you fully understand, on terms you can actually meet. Every app on this list will tell you it is fast and easy. Your job is to check whether it is also safe and fair.

Frequently Asked Questions

Are all seven of these loan apps approved by the FCCPC?

Not all of them could be confirmed on the FCCPC approved register at the time of writing. Irorun, LendSafe (via Smartloans), and Rocket Loan (via Kenda Lending) have confirmed FCCPC positions. Oxygen X is CBN-licensed through Access Holdings. For SingaCash, HiCredit, and Liberty Assured, verify their status directly at fccpc.gov.ng before applying.

What is the cheapest loan app on this list?

Oxygen X and SingaCash offer some of the lowest stated rates. However, the cheapest loan depends on the total repayment amount, which includes fees, insurance, and daily charges on top of interest. Always compare the total cost, not just the headline rate.

Can I get a loan without BVN on any of these apps?

No. Every app on this list requires BVN verification. This is standard for all regulated digital lenders in Nigeria and is a legal requirement under the DEON Regulations 2025.

What should I do if a loan app harasses me or contacts my family?

Report to the FCCPC at fccpc.gov.ng/consumers/complaint-handling. Under the DEON Regulations 2025, it is illegal for any lender to contact your family, friends, or colleagues for debt recovery, or to access your contact list for this purpose. Save screenshots as evidence.

Are these apps safe to use in terms of data privacy?

Apps that are FCCPC-approved or CBN-licensed are required to comply with Nigeria's data protection rules, including the NDPR. However, no app is risk-free. Before using any platform, review its privacy policy, check what permissions it requests, and never grant access to your contacts, gallery, or SMS.

How much can I borrow as a first-time user?

First-time limits vary significantly. Irorun may start you at ₦1,000 to ₦5,000. HiCredit and LendSafe typically start with smaller amounts that increase with repayment history. Oxygen X reportedly offers higher first-time limits than most competitors, but this depends on your credit assessment.

Can I use more than one of these apps at the same time?

Technically, yes. However, borrowing from multiple apps simultaneously increases your debt burden and default risk. The Global Standing Instruction (GSI) system allows any lender to recover funds from any of your bank accounts, so multiple active loans can lead to unexpected debits. Borrow only what you can comfortably repay from a single source.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Interest rates, loan limits, fees, and eligibility criteria are subject to change and should be verified directly with each provider before applying. Regulatory statuses are based on publicly available information at the time of writing and may have been updated since publication. Always confirm a lender's current FCCPC or CBN status before sharing personal or financial information. Borrow responsibly. Failure to repay can affect your credit score and result in additional charges.