Microloans in Nigeria, explained simply
microloans.ng is an independent, plain-language guide to small loans in Nigeria. We help you understand how borrowing works, how to protect yourself, and how to choose a licensed lender. We are not a lender and we never collect loan applications.
Start with the beginner’s guideIndependent editorial content by Ranked Technologies Ltd. Verify all licensing with the Central Bank of Nigeria before borrowing.
Borrow safely
How to borrow safely, in three steps
- Check the lender is licensed. Use a licensed microfinance bank (MFB) or an approved digital lender. Never borrow from an app you cannot verify. See our lender directory and how to spot loan sharks.
- Understand the real cost. Ask about the total amount you must repay, the interest method, and every fee before you accept. Our loan comparison guide gives you a simple framework.
- Only borrow what you can repay. Borrowing multiple quick loans at once is a common debt trap. Read the whole contract and plan your repayment.
Guides
Featured guides
How to get a microloan in Nigeria
The full picture, from picking a licensed lender to signing the agreement.
How to spot loan sharks
Unlicensed apps, harassment and pressure tactics, and the warning signs to avoid.
Interest rates explained
Flat vs reducing balance, APR, and how to work out the true cost of a loan.
What happens if you default
The real consequences for your credit record, guarantors, and legal risk.
Loan apps, permissions and your privacy
Why apps ask to read your contacts and what your privacy rights are.
How to collect loan for Nigeria (Pidgin)
How to borrow safely — the same guide in natural Nigerian Pidgin.
Lenders
Licensed lenders directory
We list licensed microfinance banks and approved digital lenders with links to their official websites, so you can verify them before you borrow. We do not rate lenders or invent rates.
Compare
Compare loans fairly
Use our fill-in template table to compare total cost, tenure, fees, licensed status and complaint channels side by side. We never show invented lender numbers.
For lenders: reduce loan losses with borrower readiness
Lenders lose a large share of loans to defaults on thin-file borrowers. Our WhatsApp borrower-education programs, delivered in English, Pidgin, Hausa and Yoruba by Ranked Technologies’ verified panel, help borrowers understand repayment before they take the loan. Email support@ranked.ng to talk about a program.