Falling prey to a fake loan app can be a very agonizing experience. Exorbitant interest rates, illegal data collection, and aggressive debt collection tactics can leave you feeling helpless and desperate. But here’s the good news: you’re not powerless. The Central Bank of Nigeria (CBN) stands guard against these predatory practices, and you have the right to fight back.

This post will equip you with a powerful tool: a sample complaint letter to the CBN, tailored to report the illegal activities of a fake loan app. Remember, reporting your experience can not only safeguard you but also protect countless others from falling victim to these scams.

So if you are ready to take the bull by the horns and launch an attack against that fake loan app, let’s show you how to do that!

Sample Complaint Letter to The CBN

Date: [Date]

To: Director, Consumer Protection Department, Central Bank of Nigeria

From: [Your Name]

Address: [Your Address]

Phone Number: [Your Phone Number]

Email Address: [Your Email Address]

Subject: Complaint Against Fake Loan App: [App Name]

Dear Sir/Madam,

I am writing to formally complain against a fake loan app named [App Name]. This app operates through [app store/website/phone number] and engages in various illegal and predatory practices that infringe upon my rights as a consumer and violate the regulations of the CBN.

Nature of the Complaint:

[Clearly describe the app’s fraudulent activities. Provide specific examples, such as:]

  • Unlicensed Operation: I have verified that [App Name] is not licensed by the CBN to operate as a loan app in Nigeria.
  • Unfair Loan Terms: The app advertises attractive interest rates but hides exorbitant hidden charges and penalties in the fine print, leading to significantly higher loan costs.
  • Excessive Interest Rates: The app charges interest rates far exceeding the lawful limit set by the CBN.
  • Unauthorized Data Access: The app requires access to sensitive personal information beyond what is necessary for loan processing, raising concerns about data privacy and potential misuse.
  • Aggressive Debt Collection: The app employs abusive and harassing tactics to collect debt, including threatening calls and messages at unreasonable hours.
  • Unauthorized Contact of my Contacts: The app makes unauthorized calls and sends messages to my contacts, harassing them and potentially damaging my reputation.
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[Attach copies of supporting documents, such as:]

  • Screenshots of loan agreements and hidden charges.
  • Records of bank transactions showing loan payments and excessive charges.
  • Call recordings or SMS transcripts showcasing abusive debt collection tactics and harassing messages to your contacts.


I request the CBN to investigate the illegal activities of [App Name] and take appropriate action against them. This could include:

  • Revoking their operating license in Nigeria.
  • Imposing fines and penalties for violating consumer protection regulations.
  • Issuing a public warning to protect other potential victims.

I strongly believe that the CBN needs to take immediate action against [App Name] to protect consumers from their predatory practices. I am confident that your investigation will bring these unlawful activities to light and serve justice to victims like myself.

Thank you for your time and attention to this matter. I look forward to your prompt response and action.


[Your Signature]


  • Customize this template by adding your specific details and experiences.
  • Attach relevant evidence to strengthen your complaint.
  • Send the letter electronically through the CBN’s Public Complaints Form: [https://www.cbn.gov.ng/Contacts/Complaints/]
  • You can also submit a hard copy to your nearest CBN branch.

Reporting to the CBN about your experiences is a crucial step in holding fake loan apps accountable and creating a safer lending environment for everyone. Don’t let fear silence you. Raise your voice, report the crime, and empower yourself and others to go through the financial world with confidence and security.

Together, we can fight back against fake loan apps and reclaim our financial control!


Many loan apps change their interest rates and repayment terms over time. Always review the terms and conditions carefully before downloading any loan app. B4loan doesn't promote any loan app, we just help you make informed decisions.

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