With the growing popularity of mobile lending apps, many Nigerians are turning to platforms like Aella Credit for quick and convenient loans. But before you borrow, it’s crucial to understand the company’s legitimacy and regulatory compliance. This blog post aims to answer your questions about Aella Credit, focusing on its legitimacy and CBN approval.

Is Aella Credit Legit?

Yes, Aella Credit is a legitimate company registered with the Corporate Affairs Commission (CAC) of Nigeria under the registration number RC1412955. They operate as Aella Credit Limited and Aella Financial Solutions Limited. However, being registered doesn’t guarantee complete safety or ethical practices.

Is Aella Credit Approved by the Central Bank of Nigeria (CBN)?

As of February 9, 2024, Aella Credit is not listed on the CBN’s official list of licensed finance companies. This list includes institutions authorized to provide financial services like lending. There is also no information on Aella’s website that shows their CBN approval status. While not being on CBN’s list doesn’t automatically mean Aella Credit is illegal, it raises questions about their regulatory compliance.

What Does This Mean for Borrowers?

Borrowing from an unlicensed lender carries certain risks:

  • Limited regulatory oversight: Without CBN supervision, concerns regarding unfair loan terms, high interest rates, or aggressive debt collection practices might not be addressed effectively.
  • Potential legal issues: If disputes arise, you might have limited legal recourse as the CBN regulations wouldn’t apply.
  • Reputational concerns: Unlicensed lenders might operate under different standards than those adhering to CBN regulations.
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Alternatives to Consider:

Several CBN-licensed lenders offer similar loan products in Nigeria. Some options include:

  • Branch International Financial Services Limited
  • FairMoney Micro Finance Bank
  • Renmoney Microfinance Bank
  • P2vest Technology Limited


Q: Why isn’t Aella Credit on the CBN list?

We don’t have access to Aella Credit’s specific reasons for not being listed. It’s possible they might be in the process of obtaining a license or operating under a different regulatory framework.

Q: Are there any complaints about Aella Credit?

Yes, there are some customer complaints reported online regarding loan terms, interest rates, and debt collection practices. However, it’s important to consider that negative experiences tend to be more visible online compared to positive ones.

Q: Should I borrow from Aella Credit?

The decision ultimately depends on your individual risk tolerance and financial situation. We recommend thoroughly researching Aella Credit, understanding their loan terms and fees, and considering alternatives before making a decision.

Remember: Borrowing responsibly is crucial. Always ensure you can afford the repayments before taking out a loan, regardless of the lender.

Disclaimer: This information is for educational purposes only and should not be construed as financial advice. Please consult a qualified financial advisor before making any financial decisions.


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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