In Nigeria where getting access to loans from traditional banks can seem like climbing Mount Everest, loan apps have emerged as alternatives for quick and easy cash. However, to grant this loan, these apps usually request your BVN to aid with the loan processing. The BVN tells them about your finances and if you will be able to repay the loan.

Lately, however, we’ve been getting requests to write a post on loan apps that request for only NIN. But are there even apps like that? This post tells you all you need to know.

Why NIN-Only Loans Are (Most Likely) Fiction

1. Regulations Matter:

The Central Bank of Nigeria (CBN) follows certain rules, and one of these rules is about making sure banks and loan apps know who their customers are. This is called Know Your Customer (KYC) checks. The idea behind these checks is to prevent illegal activities like using fake identities to steal money (money laundering) and funding terrorism.

Now, having just your National Identification Number (NIN) is not enough to stop these illegal activities. The rules are in place to ensure that banks and loan apps go through a proper process of checking and verifying your identity before they provide you with their services. This helps in making sure that the financial system is not misused for illegal activities.

2. Assessing Your Loan Worthiness:

Imagine you’re asking a friend for a loan. They probably wouldn’t just hand you the money without asking some questions, right? They’d want to know if you can pay them back, so they might ask about your job, how much you earn, or if you’ve ever borrowed money before and paid it back responsibly (your “credit history”).

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It’s the same with responsible loan companies. They don’t just care about who you are (your NIN tells them that), they also care about your ability to repay them. Your NIN doesn’t tell them things like:

  • How much money you make: Can you afford the loan payments on top of your bills?
  • If you’ve ever borrowed money before: Have you always paid back your debts on time, or have you struggled?
  • How you manage your money: Do you save some money each month, or do you spend everything you earn?

Without this information, it’s like giving your friend a loan without knowing if they can pay you back. It’s risky for both of you!

Even apps advertising “NIN-only” loans might require other forms of data during the application process. This could include:

  • Mobile phone data: They might analyze your call history, app usage, and network activity to build a financial profile.
  • Alternative identification: Bank statements, utility bills, or social media profiles might be requested for verification.
  • Guarantors: In some cases, you might need someone to co-sign the loan, a person who will take responsibility if you default.

So Are There Loan Apps With NIN Only?

Based on the above information, it is safe to assume that no reputable loan app operates by relying only on your NIN. Apps making such claims often:

  1. Operate Outside Regulations: These apps are likely not following the rules set by the government. This is a warning sign that they might not be trustworthy.
  2. Lure You In with Bad Practices: These apps might try to trick you by using unfair methods. They could hide fees or charge you very high-interest rates, which means you end up paying a lot more than you borrowed. And some might even go as far as harassing and defaming you.
  3. Risk Your Privacy: Your personal information could be in danger. These apps might use your data for things you don’t know about or didn’t agree to, putting your privacy at risk.
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In simple terms, if a loan app says they only need your NIN, it’s better to be cautious. Reputable apps follow the rules, are transparent about costs, and respect your privacy.


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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