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Top Loan Apps
In recent years, many Nigerians have complained about series of harassment, disturbing calls, threats, and privacy violations from so many loan apps. Some of these loan apps have agents that engaged in unhealthy loan recovery practices like sending threatening messages, calls and even contacting their family and friends. Because of these issues, the Nigerian government … Read more
In one of our articles, we explained that – users that have taken a loan from a bank, loan apps or other financial institution in Nigeria and have refused to repay, may face GSI recovery. If borrowers default on loan repayment, the loan institution may activate Global Standing Instruction (GSI) to recover the loan from … Read more
If you’re worried and want to know how to stop GSI recovery, then read this carefully. First advice I do love giving people is – borrow what you can always repay. GSI is a bank-to-bank recovery mechanism instituted by CBN. It allows a creditor bank (the lender) to automatically debit money from a borrower’s other … Read more
GSI recovery is one of the legal approaches that lenders in Nigeria use to recover loans from defaulters who refuse to repay their loans after a period of time. This recovery approach was introduced in 2020 by the Central Bank of Nigeria to protect lenders from losing money to borrowers always. The Global Standing Instruction … Read more
If you are borrowing money through a mobile loan app in Nigeria, it’s very important to choose from this list of loan apps approved by CBN 2026. The Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC) have made it compulsory that all digital lenders in Nigeria must be approved … Read more
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