Run From LCredit Loan App, They’re The Most Fraudulent After Rapid Naira

Borrowers Beware! How Rapid Naira Loan App Is Scamming Nigerians Exposed
Borrowers Beware! How Rapid Naira Loan App Is Scamming Nigerians Exposed

If there is any online lending platform in Nigeria, people should run 1000 km away from, and never patronize anymore, it’s LCredit loan app, reputed as one of the most fraudulent lending platforms in Nigeria after the most dubious Rapid Naira and Sokoloan that have since been shut down by the Nigerian government and banned by Google Play Store.

Borrowers Beware! How Rapid Naira Loan App Is Scamming Nigerians Exposed
Borrowers Beware! How Rapid Naira Loan App Is Scamming Nigerians Exposed

Isnt’t it a great wonder that Nigerians in their numbers are still patronising LCredit loan app for soft loan and getting defamed and bashed and publicly blackmailed by the app, which has since been booted out of Google Play Store and banned from operating in the shored of Nigeria.

LCredit Loan App Was Booted Out Of Google Play Store Over Multiple Unethical Practices And Customer Data Privacy Breach

LCredit loan app has been codenamed “The multiple violating online lender in Nigeria” for all its violations, for customer data privacy breach, for defaming and sending defamatory messages to its customers and their contact list and for spying its customers sensitive banking information albeit illegally.

LCredit loan app was finally shown the way out of Google Play Store in May 2022 after QUICK LOAN ARENA damning report on the loan app’s serial abuses, loan application and tenure violation and abuse of customer data privacy and other several infringements recorded against the lending platform.

Why Are Customers Still Borrowing Money From The Scam LCredit Loan App?

This medium has written countless number of stories and reports about the fraudulent activities of the scam LCredit loan app and spread widely to Nigerians. Even Google has once alerted Nigerians that LCredit app was spying their banking and personal information. Yet customers won’t stop from borrowing money from them.

Today, QUICK LOAN ARENA is asking Nigerians why are they still patronising the scam LCredit loan app? What’s the special attraction to LCredit for Nigerians that they still feel comfortable to borrow money from this unrepentant fraudulent, defamatory and scam lending platform whose only objective is to shame and defame its customers and borrowers?

LCredit Loan App Is One Of The Worst Loan Apps In Nigeria To Ever To Exist – Customers’ Testimony

Top 10 Best Instant Loan Without BVN In Nigeria

LCredit loan app is arguably one of the worst lending platforms to ever exist in Nigeria judging from the way and manner it has been conducting its activities, nothing could be more unethical and uncouth in the serial abuses and invasion of privacy that the fake lending platform has subjected its various customers to.

QUICK LOAN ARENA had exclusively reported in October last year that the internet giant, Google removed Rapid Naira and LCredit loan apps from its Play Store after found to be serially violating its policies on loan application, approval and loan tenure, terms and conditions, and privacy polices guiding finance apps hosted on its network. This medium has been on the forefront reporting against  scam apps such as LCredits, Rapid Naira  ForNaira and some others on Google Play Store predating on poor Nigerians and violating Google Policies on lending app.

LCredit Loan App Was First Removed By Google Play Store Over Its Violation

LCredit loan app was removed by Play Protect, the security system on Playstore that scans apps hosted on Google for malware and other malicious virus and fraudulent apps. The internet giant had warned users from using LCredit app because it was trying to spy on phone contacts, recordings, photos, banking details and other sensitive contents on their devices. This is against Google Privacy Policy.

However the platform mysteriously later found it way back into Google Play Store.

We had exclusively reported in Novermber that Google has restored and readmitted the rogue app, LCredit into its Play Store exactly one month after the initial ban. The internet giant has removed LCredit and Rapid Naira from the Store on the 21st of October, for data breach and violation of customers’ data privacy.

Google Policy Statements On Loan Apps Indict LCredit Loan App, Rapid Naira and Other Fake Loan Apps

One of the policy statements of Google for loan apps hosted on its Play Store states: “We only allow personal loan apps with full repayment required in greater than or equal to 60 days from the date the loan is issued… apps that fail to do so will be removed without further notice.”

Another Google Policy states that: “Any app that offer personal loans with an Annual Percentage Rate (APR) of 36% or higher are no longer expected to be available on the Play Store. To keep their apps in the Play Store, lenders must adjust their products and business models to meet Google’s requirements.”

However many of the lending apps, including LCredit and many other loan apps in Nigeria give loan ranging from 7 days to 30 days at very exhorbitant interest rate and APR higher than that specified by Google. The network should enforce its policies and show these violating apps the way out.

Loan apps are required to indicate minimum and maximum period of repayment, maximum annual percentage rate, and other information, which most either misrepresent or omit. In particular, by offering loans of just seven days, for instance, these providers clearly flout a major criterion by Google that no tenor should be less than 60 days.

“I was broke then and under pressure to settle certain things,” said Chidi, who borrowed N10,000 each from three of such apps in mid-2021, a total of N30,000 ($72) but defaulted after the 2-week tenor. This led to a tsunami of messages and calls, first to threaten him to repay, then to all his phone contacts. He identified iCoin as one of the apps but couldn’t recollect the others when interviewed.

Google states in their policy on personal loans: Advertisers for personal loans must prominently disclose additional information on their destination site or app. Disclosures increase transparency and provide consumers with valuable information to make informed decisions.

The following is not allowed:

  •  Failure to provide minimum and maximum period for repayment
  •  Failure to provide maximum Annual Percentage Rate (APR), which generally includes interest rate plus fees and other costs for a year, or similar other rate calculated consistently with local law
  • Failure to display a representative example of the total cost of the loan, including all applicable fees.
  • Personal loans which require repayment in full in 60 days or less from the date the loan is issued. This policy applies to advertisers who offer loans directly, lead generators, and those who connect consumers with third-party lenders.
  • The amount a person is eligible to borrow is determined by the work they do and income. Also, when a person borrows and pays back, it qualifies them for another (higher) loan.

A Google spokesperson, when asked for the company’s reaction to conducts of loan apps hosted on playstore, told BusinessDay the company has very strict policies that guide apps that are allowed on the Playstore platform. “When we find violations, we take very strong actions, including sometimes taking down the app from our platform. Violations can be reported by clicking the ‘Flag as inappropriate’ link under the menu on the Google Play store. When reports are received, We investigate, and take clear actions,” Google said.

Apart from violating the terms by Google playstore, the loan apps have also been alleged to contravene Nigeria’s data privacy law on one hand, and cyber security law on the other.

QLA Readers Continue To Lament The Tormentous Approach Of Scam LCredit Loan App
Please see below comments from customers of LCredit, and if after reading all these, you still find it convenient to patronise this scam LCredit loan app, then we cannot help you. They are unrepentant saddist whose only interest and joy is to inflict pains and torments on their customers.

New comment on your post “Top Loan Apps Banned In Nigeria”
Author: Adeola (IP address:,

I am going through similar experience with L credit loan app. My loan was overdue, they started cursing me a day after, calling me names. Threatening me and I have good record with them, with every passing day, they are increasing due amount by close to 2000 naira. The government should please see to this and help us. This is just a 2 weeks loan with too much interest. Imagine 46,000 to pay 58,000 in just two weeks

You can see all comments on this post here:

Top Loan Apps Banned In Nigeria

New comment on your post “Why Google removed Rapid Naira, LCredit from its Play Store”
Author: Hmd (IP address:,

Am glad you deleted the app on play store !! Lcredit loan app is a scam and I told them that already whenever they called me. You can see all comments on this post here:

Why Google removed Rapid Naira, LCredit from its Play Store

October 30, 2021 at 7:11 am

The worst one Lcredit loan app does is that they would start calling all your contact saying you are owing them

Literally a friend of mine was owing Lcredit as a student instead they called his father who was at home and the dad had to come to school unaware to query the son, and they disturbed the father till he paid the money.

November 1, 2021 at 11:53 am

My experience with LCredit loan app was very terrible.. After paying them the loan, they still send me mail that am owing them, sending messages down to my contacts for a Loan have paid off since.. These loan apps are supposed to be banned seriously, most especially the aspect of tarnishing someones image bcos owing u is too bad.

November 2, 2021 at 10:44 am

One naira I won’t pay if they mistake to call or text any of my contacts.


November 14, 2021 at 1:23 pm

I won’t pay a dime after threatening me and defaming me to all my contacts. They even posted it on my friend’s whatsapp status. That is the height of privacy invasion.


We will continue to reiterate our warnings that Nigerians should abstain from all illegal digital lenders and fake loan apps. Most of them are loan sharks and having downloaded and stored all your contact details safely into their database, you are at their mercy once you borrow money from them. It may be difficult to stop LCredit loan app or any of the fake loan apps for that matter from defaming you if you continue to patronize them.