In my today OkayNaira loan app review, I’m going to reveal everything about the loan app that claims to borrow you money in minutes called OkayNaira. This loan app was launched sometime in 2022 and has since gained about 100,000 downloads and counting.
OkayNaira is a loan app portfolio under a Nigerian registered company, LITFIN NIGERIA LIMITED. The company is limited by shares and claims to operate from Ikorodu in Lagos state. However, on checking the domain records, the company is owned by the Chinese.
OkayNaira is registered on Name.com, Inc. on 2020-11-18 by the name Dollar Yang. The location of the domain is China. This is because this company is affiliated with China. Recalling that news surfaced on the internet back then that all the loan sharks in Nigeria are filtrated by the Chinese citizens who come in here and give loans to Nigerian citizens and use various means to defame them.
The federal government of Nigeria has not been able to come up with a good means to tackle these acts. However, this post isn’t insinuating that OkayNaira is a fake loan app in Nigeria but the fact it is a Chinese company makes me wonder how these Chinese are able to own more than 5 loan apps companies in Nigeria operating under different names and use fake addresses that never existed.
OkayNaira Loan App Review: Is OkayNaira Legit?
So far, OkayNaira has proven to be legit. The app has not been found to be accessing and sending messages to contacts. The app was launched sometime in 2020/2021 and has since gained over 100,000 downloads on Google Playstore.
However, the app only has an average of 3 stars from customers on the same platform. Most of the complaints left by customers are the fact that they can’t repay their loans which results in late payments and attract additional fees.
The company also for their own personal reasons has refused to add their contact information such as email and phone number. Their social media pages are all not functional and their so-called website is nowhere to be found as it does not exist on the web. However, the domain is still active and would expire in 2023.
OkayNaira loan app customer care number
The worse thing about the OkayNaira loan app is the fact that it doesn’t have a customer care number or email. If you have any issue with the app, there’s no way to report it or call for help. Even reviews left on Google Playstore are hardly responded to which is bad for business.
Some customers need to be responded to in order for their transactions to be successful. For example, on the 12th of September, 2022, Mr. Oladapo Aderemi left a review that he’s been trying to repay his loan for months and the app suddenly stopped working. He had to uninstall the app and reinstall it and it still didn’t solve the issue, yet there is no customer care phone number or email address to contact OkayNaira which makes it not a good loan app in Nigeria.
Is OkayNaira loan legit?
After carefully reading customers’ complaints using different web resources, it is okay to say that OkayNaira loan app is not legit. This app has been found to be sending unrequested loans to suspected and untargeted Nigerians with really high-interest rates.
What happens is, the loan app would just send a credit alert of say N18,000 to the random account of people who have not requested a loan and request repayment of up to N26,000. This is a very dubious and unfair practice to be carried out in such a financial market.
What are OkayNaira Loan Requirements?
Below are some of the OkayNaira loan requirements for those who want to take loans with the app.
- You must be a Nigerian above 18 years
- You must have a means of survival
- You must possess a bank account in Nigeria
- You must have an ATM card for repayment.
- You must have a valid means of identification
- You must have a BVN
OkayNaira is a good loan app in Nigeria but due to its dubious activities, we cannot give them the full credit and therefore classify it as a non-legit loan app. Anytime they get a contact phone number or email address, we would update this post about the same time.