Loans

Higher education in Nigeria can be costly, making it challenging for students to afford tuition, accommodation, books, and other expenses.

As a solution, students may seek student loans to help finance their education and cover these expenses.

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Nigeria Bars Illegal Online Banking and Approves 173 Digital Lending Apps

The Nigerian government has taken steps to protect its citizens from the unsavoury practices of loan apps by approving 173 digital lending applications to operate in the country.

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The Federal Competition and Consumer Protection Commission (FCCPC) has approved a total of 173 digital money lenders, also known as loan apps, to operate in Nigeria. The registration of the companies closed on March 27, with 119 of them granted full approval and 54 still with conditions attached to their approval.

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If you need a quick and easy loan without paperwork or collateral, consider Xcredit.

The Lagos-based fintech company developed a mobile loan app for online personal loan applications.

Xcredit verifies your identity and credit score using your phone data, including SMS history.

The best part? You can apply from home. Keep in mind that loans have a maximum tenor of 180 days.

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KiaKia is a popular online platform for lending and borrowing money in Nigeria.

KiaKia is a P2P lending platform connecting borrowers and lenders without traditional financial institutions.

While many people see KiaKia as just another payday loan app or platform, the requirements for obtaining loans from KiaKia are actually more complex than most other loan apps.

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