Many loan apps request access to contacts, call logs, and photos—raising serious privacy concerns.
The rise of digital lending in Nigeria has made accessing quick loans easier—but at a hidden cost: personal privacy. With just a smartphone and a few taps, many Nigerians receive loans within minutes, unknowingly granting apps access to their contacts, messages, call logs, and photos.
“If a borrower really takes the time to read those terms and conditions, they contain permissions that allow the lender unrestricted access,” one report noted.
When payments are late, borrowers often face aggressive tactics, including harassment, public shaming, and doctored messages sent to friends and family. Despite awareness, financial hardship keeps many using these platforms.
Experts warn that the intersection of financial desperation and weak digital regulation is fuelling a dangerous trend.
While regulators like NITDA and FCCPC have shut down rogue apps, enforcement remains limited. Nigerians are urged to read terms carefully, protect their data, and make informed financial decisions.
“It’s not just about technology—it’s about dignity, cybersecurity, and consumer rights,” the report concludes.