Is Swiftkash Approved by CBN in Nigeria?

Unfortunately, Swiftkash is not approved by the Central Bank of Nigeria (CBN) as of February 15, 2024.

Here’s what you need to know:

• In September 2023, the Federal Competition and Consumer Protection Commission (FCCPC) delisted Swiftkash and 36 other loan apps from their list of approved lenders.
• This means they do not have the legal authorization to operate in Nigeria.
• The FCCPC also published a list of approved loan apps, which currently includes 164 companies. This is the official source to verify the legitimacy of a loan app in Nigeria.

Therefore, it’s crucial to avoid borrowing from Swiftkash as they are operating illegally and could pose potential risks. Be cautious of loan apps that are not on the FCCPC’s approved list and always prioritize your financial safety.

Here are some resources for further information:

• Full list of approved loan apps in Nigeria: https://querify.info/full-list-of-approved-loan-apps-in-nigeria-2024/
• FCCPC website: https://fccpc.gov.ng/
• News article about FCCPC delisting Swiftkash: https://www.vanguardngr.com/2023/04/fg-approves-173-lending-apps-bars-illegal-digital-banks/

Remember, it’s important to borrow responsibly and only from authorized lenders.