OKNaira Loan App Review: Mobile Loan App in Nigeria

OKNAIRA loan app is a mobile lending service in Nigeria that promises to offer micro and medium short-term personal loans of up to ₦530,000 unsecured.

An unsecured loan is a type of loan that does not require collateral or downpayment to obtain. It is usually short-term with very high interest rates.

Before you download this app you should know it has some serious bugs and networking issues that prevents smooth registration.

The app has so far gained over 10k downloads on Google play store with mixed reviews. Most costumers seem to complain about the networking issues that hinders the app’s simple and smooth registration process. It uses a loan software to collect prospective customers information including phone records, banking transaction alerts, BVN to build the credit score of each borrower.

To qualify for higher amounts, be sure to keep good bank transaction messages on your phone and do not have outstanding debts with other loan apps!

Application is simple, just download the app from Google play store, provide some information about yourself, the algorithm will analyze your information, calculate your credit score and make you a loan offer all Within a few hours.

How to Download APK and get a loan from OKNaira loan app

  • Download the OKNaira personal Loan App exclusively available on the Google Playstore and install on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
  • Fill in your basic Kwow-your-customer KYC information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N50 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N50 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

Is OKNaira loan app legit or scam?

OKNAIRA loan app is a legit loan app that gives micro loans to customers, if you’re lucky enough to get past the bugs and networking issues. caution should be taken before taking any online loan. Always read other customer’s reviews before you apply for a loan in Nigeria.

Please do not take an OKNaira loan to fund your lifestyle or service long-term debts. Short-term loans are helpful in emergencies but can quite expensive when compared to long-term loans and should be used with care.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Also its availability on Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your own security while using loan apps in Nigeria.


  • Offers loan amount of upto N420k.
  • It’s legit, has been confirmed by admin that they actually do give loans.
  • Completely online with no collateral required.


  • Takes time to disburse loans after approval, some customers take days even weeks before seeing alert.
  • Short loan duration especially for new users, starts at just 7 days.
  • Very high interest rates on small loan amounts.
  • Has networking issues that prevents smooth registration.

When taking loan, be mindful of the repayment plan. If you take a 60 days loan with two repayment installments, the app might attempt to auto debit you on the due date of the first installment and even charge overdue charges before the end of your 60 days tenure.

You can change your ATM card password to prevent auto debit. This app has been reported to deliberately auto debit their customers even after they have made payments via bank transfer.

Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.

If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.

What other borrowers are saying about OKnaira loan app

Most borrowers seem to have a complain about the serious networking issues that prevents smooth registration on this app, that’s if you look beyond the paid reviews it has on play store.

Samuel Faith wrote, “You people needs to work on your app, i have updated twice but still keep rolling when it get to adding bank account. I sent email to no avail. Do something and stop disturbing me with messages that it remain one step when you know i cant pass the step.”

Samson Rasheed wrote, “After putting all the necessary details that was required of me, still not brining the list of banks and have been on this for days and yet you guys keeps sending me text message that I only need to submit my loan application and after refreshing over and over again it’s still not brining the list of banks. You guys should do something about it.”

Denise Isreal wrote, “I didn’t apply for a loan , I saw your loan app and the interest rate was too high so I cancelled it, only to see it disbursed into my account 3 days later at midnight without asking for it, please do something about it because I never clicked the disburse option.”

interest rate?

You can get as little as N2,000 and up to N120,000, and you can pay back between 60 to 180 days. Our usual repayment period is monthly. Our minimum interest rate, determined by our credit scoring algorithm, is 3% per month and a maximum of 10% per month. This comes to an Annual Percentage Rate (APR) of 36% to 120%.

If you choose a loan package of N10,000 (Principal) to pay back over a 6-months tenor at an interest rate and fees of 3% per month (36% APR), you will be paying back N1,966.67 monthly for 6 months. At the end of the 6 months, you would’ve paid a total of N11,800.

This interest rate and tenure is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

What are the requirements?

  • Be a legal citizen or legal Resident of Nigeria
  • Be at least 18 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account
  • Provide details of two of your next of kins including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active bank account.
  • Your phone number must be the one connected to your BVN.
  • Have a valid government issued ID card.

What will happen if I don’t repay my loan or pay my loan late?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, you will be reported to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

OKNaira loan app customer service number

  • Tel: 08135716189


A writer! Columnist and an academic researcher


  1. I Got A Loan From Your Platform Yesterday,I Never Applied For Any Loan From Your Platform, A Loan Of 18675 To Repay 26675 Within 6 Days, Please I Don’t Need It.

    1. Quickly deposit the 18675 back immediately. If you deposit it back immediately you received it you can avoid paying the interest on it.

      1. Please today 1st of Sept I received un request loan of 20k which I didn’t request for…please take uou4 money ASAP….I might have yo write CBN yo create awareness of them app…just by checking the page,a loan I didn’t request for was credited to my account….this is no..Tak3 ur money.Asap

        1. Let REPORT this app.they are dubious…you give compulsory loan upon accessing your app….CBN needs to do something fast…you don’t force loan on people is wrong….Nonsense…..have returned your 20930 loan ASAP…

          1. I thought i am the only one. They kept sending money that i didn’t apply for… Who knows there office of customers care representative number… Please

        2. I have this same experience with them, I don’t even have the app on my phone. How did you sort it please?

          1. Pls have you sort it with them because I have the same experience and am looking for way to return their money

          1. They approved a loan of 5900on my behalf and credited me4200 and said I should repay 6300 in 7 days they are scammers

      2. What are you talking about??? Crediting people that didn’t apply for a loan??? You guys that desperate? Abi what sort of useless application is this?? You guys are theives

      3. Please I got a loan this early morning, I didn’t apply for it come and take your money ooo, nobody should call me I don’t need your loan

    2. This Is Not Welcome Please, OkNaira Should Ask For A Withraw,Am Not In For Such Transaction,It’s Dubious.

    3. I Amanfo Philomina received a loan credit of 1575 which I never asked for, pls how do I refund the money pls oooo

    4. The same thing to me. Please, I need an account to transfer your money back to you, just got an alert of 17, 430 naira which I didn’t apply for. Even to send it back it’s becoming a problem. Please, you people should give me an account number to send the money back. I sent mails but yet NO response what is the meaning of this?

      1. Please u sent me money I never requested for please I have sent it bk I don’t need it the loan time is short and the interest is too high

      2. Same thing just happened to me now. Pls send me your account number let me send your 17430 back oh. This is nonsense. I sent an email no reply. Plzzzzzz

          1. These people are just desperate….. if you loan from them , they will tag you a ritualist and a kidnapper …. they are completely annoying…

    5. You just disbursed money to me which I did not apply to take.
      Is it by force to give someone loan? I have sent your money back to you.
      If you disturb my contacts and post anything bad against my, I will sue you for character assassination and dubious dealings.

        1. Why will you send money into my account without requesting for it secondly.. . I have sent back the money into your sterling account. Please do the needful. 08060378177.

      1. Pls how did you transfer the money back pls I need urgent reply because I don’t want any embarrassed

    6. Please, okonaira….I never applied fir loan…but was given loan….I Please take your money back.. I don’t need it what sort of app will give compulsory loan….please I don’t need it .please take your money back

    7. Same thing they did to me, who does that??? This is ur last time. Going to the office to set it on fire??? Have I done wrong by making enquiries

    8. You credit my account without requesting for a loan and you also removed the money, now you are telling me to come and pay what I didn’t eat…OKNAIRA really needs to be reported to CBN

    9. I downloaded this app I apply for a loan hoping that they would show me the amount for me to know if I will take it or not the next thing I was #5,530 with the interest of 8,550 I was shocked because I need agreed to take this amount I looked for where to comment and complain I didn’t see because they didn’t give room for complains the next day I pay back the money with the interest the money I never used and then they said congratulations that I have earned a chance to be given 50 ,000 and above I should click to view but I did not apply because I noticed there interest rate was very high I refused to click anything else I never approved for any money then I off my phone the thing I saw was a text message that my loan been approved I should open my app to get the money now I have sent these useless app email many the the email they provided for people that want to cancel their since last two weeks they be telling me to open my and click to collect my loan and I deleted the app after all the email I sent to that I don’t need a loan they have been sending me different kinds of message that my loan limits will soon expire I should click on the app to collect the today I just saw #9,730.00 to my account from this oknaira app are you guys not criminals? Why would force loan on someone without approval or confirmation from them before sending your loan? This app is as good as scam there is nothing different. Please I don’t need it

  2. You send me money I never applied but I have resend to you guys back. And none of should call my line 😠

      1. Good evening mr ismaeel
        Pls do u wht with oknaria i have a serious issue on ground i requested for loan on 29900 yesterday which i have not received anything tll now and i got a message saying am to repay back my laon on the 17th i serious dnt understand jow der operate after sending server email no response tll now haba

          1. What you are doing is totally bad
            Don’t ever send any UN applied loan to me anymore
            If you try it nest time ,I will take a serious action

  3. That is how they normally did and that is rubbish how can you dispose money to the person that is not accept your loan

      1. I just got an alert from your application of 12,000 to pay back 17,227. I didn’t apply for any loan and I have paid back immediately.Pls clear me off because I don’t want any embarrassment

      2. I requested for 50000 naira load which after their evaluation they said I can only be given 30100, and receive alert of 2170 naira telling me to repay 32700 in 5 days. Please ooo I don’t need that kind of loan we’re will I get the money to pay in few days?

      3. Good afternoon pls can you send me oknaira account to me because they disburse money which am not apply for into my account and I want to send it back to them

    1. I uninstalled ur apps and u went ahead to give me loan. This is rubbish. In ur apps u claimed u gave me N9,900.00 to repay N11,425.00 but u credited my bank account with just N7,745.00. You people are 419!

    2. I did not apply for any loan, I woke up this morning seeing 8,400 which I didn’t apply for I’m not interested, I don’t even have the app, also the app is not on playstore , I have returned their money

  4. I got an alert of 18825…I’ve returned it bk to u guys…you Don’t impose money on someone like dat

  5. How dare you credit me money I never requested for. I ve refunded back to you. Pls clear me off this nonsense

    1. I didn’t apply for a loan and I got an alert of #26325.How do O refund it immediately?I don’t have your account details with me.

  6. Oh my God I’m the latest victim of this ppl, I had already refund your #22000 you sent to my account, I’ve even email you with the receipt of payment. I don’t understand why you will need to force your ridiculous loan on me. If I need it I will press for it . thanks

    1. Can you please help me to send this app for me let me refund their money. Cos, I didn’t apply for it but I saw their credit alert of #1,575 and I had already deleted the app. I have tried to download the app for days now and I cannot. Please, help me

    2. Please hope they didn’t resend you any money again I was sent 18875 was asked to pay 26606 I don’t know hope they didn’t Force any loan on u again cause I didn’t apply for this

  7. I didn’t request your money, have sent back the exact money sent to me, please kindly delete my information from your useless application by

  8. The sum of #23,925 was disbursed into my Account number and have already returned the exact money back.

    Note: find a way to rectify that as I won’t be liable on any interest on the money sent to me because I didn’t apply for it.

    I won’t hesitate to take any legal action against your company if I’m been disturbed in anyway whatsoever. Thanks

  9. The sum of #23,925 was disbursed into my Account number and I have already returned the exact money back.

    Note: find a way to rectify that as I won’t be liable on any interest on the money sent to me because I didn’t apply for it.

    I won’t hesitate to take any legal action against your company if I’m been disturbed in anyway whatsoever. Thanks

    1. The same thing they did to me i didn’t apply for a loan but they went ahead and give me the loan of 7000 something or even their application i uninstall it from my phone because their interest is too much so now they want me to pay for what i didn’t asked for

      1. How did you get to pay back Thier money. Cos, I’m still trying till now but can’t because, I had uninstall the app before they made the unwanted and unapplied loan disbursement to my account. Please, help me

      2. The sum of #7425was disbursed into my Account number and I have already returned the exact money back.

        Note: find a way to rectify that as I won’t be liable on any interest on the money sent to me because I didn’t apply for it.

        I won’t hesitate to take any legal action against your company if I’m been disturbed in anyway whatsoever. Thanks

      3. The same thing they did and I’ve sent it back to them immediately. If they call me I swear for them

  10. I never applied for any loan but I was credited with 11k and now am to pay 15k plus hmmm kindly send an account details so I can refund the money. Please you guys should not send money I didn’t apply for .

  11. Have just been credited with the sum of #24825 why I didn’t apply for a loan please I have made a refund Acct: ******2781 ,COMM+VAT= 26.88,TELCO+VAT= 6.98
    Amt: NGN24,825.00 DR
    Desc: USSD from TO MFY – Piska Tech-Jul -.- /. / from AFU JULIUS NYIAM

    Date: 03-Aug-2022 12:03

      1. I Got A Loan From Your Platform Yesterday,I Never Applied For Any Loan From Your Platform, A Loan Of 119670To Repay 30067 Within 6 Days, Please I Don’t Need It.
        I have sent d money 🤑

        1. I received alert of #93825 which I didn’t request for.I returned it immediately to sterling bank, after several instructions not to disburse loan into my account again.I complained that being a civil servants, where can I secure #93825 within (7) days.Please this should stop without which further legal action may be taken against your organization.Thank you.

  12. Please, I didn’t want your Loan o. I requested for a Loan, long time ago but you people refused to give me. Today I woke up around 9:00AM in the morning I just got an alert of 17,430.00 naira. Checking the app, I saw repay 26,643 naira in 6days for what?. Are you people now forcing people and given them Loan, what Dubious act is this?
    The worst thing is that even the customer care to talk to they don’t have. I try sending the money back to them but even the bank account from the app is not functioning. Sent mails and yet response. I am not paying any interest o in fact tomorrow you people would see my in your office thank God I even know the office.

  13. Pls don’t approve any loan to me ooo,I don’t need ur loan cos I’m not d one asking for loan Frm OK naira,someone used my details to get loan Frm OKnaira ,if u send it is at ur own risk

  14. I never applied for a loan and it was disbursed into my account i want to pay through your app and it is not loading .send me the account to pay now..if not it will be a legal case

  15. Good day,I don’t like you people modes operations okay.i said I don’t need a loan for now.yet you guys went and credited my account,I have transferred the exact amount back into you people account and am not responsible for any interest.please if such happens with out my consent am going to sue people to court okay.

    1. The sum of #2,730 was disbursed into my Account number and have already returned the exact money back.

      Note: find a way to rectify that as I won’t be liable on any interest on the money sent to me because I didn’t apply for it.

      I won’t hesitate to take any legal action against your company if I’m been disturbed in anyway whatsoever. Thanks

  16. I’m Oyajide Olalekan Gabriel, I just received a lian of #19,670 that I never applied for.Please Ive sent it back to you guys,I’m not interested and if you press charges against me,we shall meet in court.
    Be warned,I won’t tolerate any name scandal from a company that breaks into one’s privacy without authorization

  17. oknaira and company, i just return your unsolicited credit to you
    please do not do this again

  18. I collected 10.000 naira from you people which I pay back immediately and you people credit me 17,000 today without my notice which I didn’t request for and I promise you I won’t pay back the money and if you escalate me I will sue you is better for you to reverse your money

  19. Good evening foolish people,so you guys are forcing people to collect loan abi? you sent me money I never requested for on Sunday but I resend it back to you guys on that day and mind you don’t ever in your life call line ole ole ole people!!!!!!!!! Na by force to borrow money,

  20. You sent,5600 to me on Sunday I done return the money, don’t try to call me because mo maa sepe fun you and your entire generation ole!!!!!

  21. I do not apply for the loan you sent to me, and I have returned it immediately. I didn’t request for your loan.

  22. Please am having issues with this loan app please I don’t need this money u disbursed into my account I want to return ur money

  23. Good morning, I received the loan of 35,000 yesterday without my consent, and immediately called 08135716189, I was directed to pay into inner account which I did, my fear is that I don’t know if the above number is genuine or not. Thank.

  24. I borrow a loan from this people there were suppose to disburse with 34900, then I will pay back 37000,surprise to alert of 24000 and they are saying I should pay 37000 naira in ten days what happened to the 10500, this app is nonsense

  25. I got disbursed this morning 37170 which I never signed in for I have immediately sent it bk to u and am still seeing due balance of ,19647 u can’t force me to repay what I never asked for please do something about it now thank u

  26. Please Ive been credited as well and I didn’t apply for a loan. How do I cancel the stupid loan renewal.

  27. ok naira is a scam, and group of fraudsters. beware as they are useless set of people that promote fraudulent deal.

  28. I got a loan for 5530 naira on the 19th of this month. A loan I never requested for. I just got a call from one of your agents telling me to pay 7900naira today 24th ( 5days later).

    Please note this, I didn’t request for any loan and so i’m not paying back anything. If at all I want to request for loan will I request for 5k?

    This is your lose. And God Almighty help you to put my name or photo anywhere, I will sue you for every penny you and your 3 generations to come will ever make in life.

    If you don’t have a clue of business, learn the basics before you venture into this.

  29. Good day,
    I didn’t collect loan and I got a call that am owing your app how come please explain this if you don’t want me to report you and blacklist your name .

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