TigerCredit offers micro and medium mobile online loans starting from N1,000 to N100,000 to customers in Nigeria. The interest rate and loan tenure will depend on the applicant’s credit score. While some borrowers may be offered less than N10,000, others may get above that offer. It all depends on your past borrowing history with other loan apps. This loan app is relatively new and has so far gained over 10k downloads on the Google play…
The Central Bank of Nigeria CBN recently announced that it has secured approval to redesign the country’s N200, N500, and N1000 bank notes. The announcement has been generating heated debate among Nigerians who seem equally for and against the move. To be clear, governments around the world redesign their currencies from time to time to stay ahead of counterfeiting. But the main criticism against the CBN’s move seems to be the hefty pricetag the redesign…
Operatives of the Economic and Financial Crimes Commission EFCC yesterday raided the offices of black market bureau de change merchants in a bid to halt the naira exchange rate that has been on the rise in recent times. The naira has fallen by over N290/$1 year to date from an average of N565/$1 recorded as of 31st December 2021, currently trading as high as N860/$1 and still rising. This recent crash is being blamed on…
Plenty of online loan apps in Nigeria offer quick loans for emergency needs. These apps have minimal requirements, all that is needed is your 11-digit BVN number and some details about yourself to secure a loan. Because of the minimal documentation requirements of these loan apps, they tend to charge very high-interest rates on short-tenor loans. Online loan apps should not be used to fund one’s lifestyle, they should only be used for emergencies only.…
Cashdey is a Nigerian online loan app that provides short-term personal loans among other services. The Android-based app gives collateral-free loans starting from N3,000 to a maximum loan amount of N100,000 with minimal documentation. With over 100k downloads so far, the app uses a loan software to collect prospective customers’ information including phone records, banking transaction alerts, and BVN to build each borrower’s credit score and make them a personalized loan offer. To qualify for…