AjoMoni Loan App: Review, APK Download, Is it legit?

If you’re looking for a quick loan in Nigeria, you’ve probably seen many loan apps on the Play Store. Some also show up on TikTok, Facebook, and other social media. One of the apps you may have come across is AjoMoni. So let’s talk about what it is and how it works.

But here’s the real question:

Is AjoMoni loan app legit?
Is it safe?
Will it actually give you money?
How much will you pay back?
Should you trust it with your BVN and privacy?

In this review, we’re going to carefully review the AjoMoni Loan App.

By the end, you’ll know whether AjoMoni is a legit loan app and if it is worth trying or or whether you should run from it.

Quick Links

What Is AjoMoni Loan App?

Ajomoni Loan App is a digital loan app in Nigeria that offers short, and medium personal loans.

According to the information on their website, Ajomoni helps users to quickly:

Get loans without collateral
Apply for loan online without visiting a bank
Re-borrow quickly with increased loan

To use the loan app, all you need to do is to install it on your phone, create an account with your details, and once approved, you can start receiving loans directly into your bank account, based on your loan score.

The worrisomely past is that, there are apps like this everywhere these days, but not all of them are good and safe for you to even input your NIN or BVN.

How the AjoMoni App Works

The AjoMoni claims to offer quick loan by letting users to:

Download their loan app in Playstore or APK
Open the app and register with their phone number
Enter their BVN
Provide bank details
Wait for quick loan approval check
If Approved, qualified amount is displayed
User Request for Loan disbursement
Money is sent to the user bank account

It sounds simple, right? But that’s not all. Now you should ask questions like – what happens after you enter all your personal information into the app, what happens if you can’t repay the loan on time and how fair is the interest rate.

Is AjoMoni Loan App Approved by CBN?

This is the most important part of this review. AjoMoni appears on the list of officially recognized loan platforms regulated by the Central Bank of Nigeria (CBN) as reported on the Federal Competition and Consumer Protection Commission (FCCPC).

As at the time of making this review, AjoMoni is listed among the “Fully Approved” loan apps in Nigeria on the FCCPC website.

The app appears under the company name – Asoso Globa-Tech which also operates Owocredit and Ajomoni loan apps.

How to Check it yourself?

To also check and confirm this by yourself, follow these steps:

Visit https://fccpc.gov.ng/registration-of-digital-money-lenders/
Scroll to where you “Full Approval”
Type “Ajomoni” into the search bar
Tap enter to search

That means Ajomoni is a licensed lender in Nigeria just OKash, FairMoney, Carbon, Branch, Renmoney and the rest.

Is AjoMoni Loan App Legit or Scam?

AjoMoni Loan app is a legit loan app in Nigeria that has been fully approved and regulated by the Central Bank of Nigeria (CBN) and FCCPC (Federal Competition and Consumer Protection Commission)

Note: The FCCPC (Federal Competition and Consumer Protection Commission) is the official body in Nigeria that screens and approves digital lenders in conjunction with CBN licensing. For them to approve Ajomoni, it means Ajomoni has:

A registered company behind it
Clear lending terms
Met the CBN lending requirements
A privacy policy and responsible lending structure

But being licensed doesn’t automatically implies that they can’t misbehave.

From the angle of licensing and CBN regulations, AjoMoni can be said to be a legit Loan app.

But before we conclude on this, let’s check other factors like their hidden charges, data security, interest rate, loan recovery harassment histories and real time reviews from users.

AjoMoni Loan App’s interest Rates

AjoMoni loan app’s interest rates range from 5% to 36%, with a service fee of 1% to 5% of the loan amount that is borrowed.

Let’s quickly do a short breakdown of what you can expect when borrowing from them:

Loan Amount: ₦10,000 to ₦1,000,000
Repayment Period: 91 days to 365 days
Interest Rate: 5% – 36% of the borrowed amount
Service Fee: 1% – 5% of the loan amount borrowed

For example, if you take a ₦100,000 loan from them at 5% interest rate and a 2% service fee, this is what to expect:

Loan Amount: ₦100,000
Service Fee (2%): ₦2,000
Interest (5%): ₦5,000
Total Repayment: ₦107,000

AjoMoni Loan Requirements

To qualify for their loan, you must meet the following criteria:

You Nigerian resident
Must be 18+
You must have an active bank account
You need a valid phone number to register
Must have a verifiable income source

Ajomoni Loan Repayment Terms

Ajomoni lets you repay your loan over a flexible period. According to them, their repayment period ranges from 91 days to 365 days (one year)

If you ask me, I’ll say this is much longer and better than some short-term loan apps that force repayment within 7–30 days.

Privacy and Safety Concerns

A lot of loan apps in Nigeria are known for:

Harassment
Access to your contacts
Sending of defamatory messages

But as at the time of making this review, we haven’t seen complaints about Ajomoni reportedly harassing their users’ contacts.

Does AjoMoni Ask for BVN?

YES! AjoMoni will ask for your BVN because it’s a compulsory requirement for all CBN licensed lenders in Nigeria.

The BVN helps them to check and evaluate your credit risk and also prevent money laundering.

How to Use AjoMoni Loan App

Download AjoMoni app from Google Playstore
Create account
Complete the verification process
Wait for your loan decision
if approved, you’ll receive funds

Review

There are many positive reviews about the Ajomoni loan app, especially on Playstore. The current reviews by their users suggest the following:

Positives Reviews

It’s simple and fast to use
It requires No guarantor or collateral
It has flexible repayment
It has clear loan breakdown before you borrow
Loan approval is fast

Negative Reviews

Interest rate can sometimes be on the high side depending on your risk profile
Customer support is not super fast

Pros and Cons

Pros

Licensed by CBN
FCCPC compliant
Transparent loan terms
Flexible repayment options
Increase loan for repeat borrowers
Doesn’t harass contacts like some loan apps
Simple lending process
User-friendly interface

Cons

Still new — fewer users and reviews
Their Interest rate is a concern
Customer support isn’t always instant
They charge service fee

Conclusion

Ajomoni loan app is a legit loan app and NOT a scam. It is a licensed digital lender that is compliant with Nigerian digital lending regulations.

From the reviews on their app, I’ll tell you that their users seem to be having a good loan experiences with them.

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