Questions people actually ask
Straight answers, including the ones about your rights when a lender is behaving badly.
Is microloans.ng a lender?
No. We do not lend money, we have no loan products, and there is not a single application form on this site. We publish independent guides and free tools. We are operated by Ranked Technologies Ltd (RC 9522220).
Do you collect my data?
No. There is no form anywhere on this site and no account to create. The calculators run entirely in your browser: what you type never leaves your phone and is gone when you close the tab.
Can I be jailed for not repaying a loan?
No. An unpaid loan is a civil debt in Nigeria, not a crime. A lender can pursue the debt and report you to a credit bureau, which affects future borrowing. Anyone threatening you with arrest for owing money is misrepresenting the law.
Is it legal for a loan app to message my contacts?
No. Contacting your family, employer or friends about your debt, or sending them threatening or defamatory messages, breaches the Nigeria Data Protection Act and FCCPC guidance. You can report it to the FCCPC and the Nigeria Data Protection Commission. Keep screenshots.
What interest rate is normal in Nigeria?
Short-term app lending is expensive, and rates quoted per month are common. Rather than looking for a normal number, work out the annual rate including fees using our true-cost calculator, then compare it against a licensed microfinance bank. What matters most is that the total cost was disclosed in writing before you agreed.
How do I check a lender is licensed?
Get their full registered company name, not the app's brand name, and check the Central Bank of Nigeria's published lists of licensed microfinance banks and approved lenders. Also check the company exists on the Corporate Affairs Commission register. If you cannot find them in either, do not borrow.
A lender is harassing me. What can I do?
Report it. The FCCPC regulates digital lenders and has removed apps for exactly this conduct, and the Nigeria Data Protection Commission handles misuse of your contacts. Save screenshots with dates. Owing money does not remove your rights.
Should I take a second loan to repay the first?
It is the pattern that traps people. Each rollover adds fees and shortens the time before the next repayment. If you are already in that cycle, talk to the lender about a written repayment plan before borrowing again, and read our debt trap guide.
Do you recommend particular lenders?
No. Our directory explains what to check and lists categories of licensed lender, but we do not rank, endorse, or take payment from lenders. We take no commission and we run no referral links.
Is anything here financial advice?
No. Everything on this site is general information. It does not know your circumstances and cannot tell you whether to borrow. For a decision that matters, speak to a licensed adviser, your bank, or a credit counsellor.
The one to remember: owing money is a civil matter in Nigeria. It is not a crime, and nobody can be arrested for an unpaid loan. Anyone telling you otherwise is trying to frighten you into paying.
Still stuck? Read the guides or use the free tools.