Cash9ja is a mobile loan app operating in Nigeria, owned and managed by Samued Tech Nigeria Limited. It is officially licensed and approved by the Federal Competition and Consumer Protection Commission (FCCPC), which lends it a sense of legitimacy in an industry where many apps operate without oversight.
Cash9ja markets itself as a quick and convenient loan solution, promising unsecured loans up to ₦200,000 with transparent rates and simple application processes. But does the app deliver on those promises? We took a close look at its features, terms, and—most importantly—user reviews to offer a balanced and objective verdict.
Quick Overview of Cash9ja
- Company: Samued Tech Nigeria Limited
- FCCPC Approval: Yes (FCCPC/DSE/INV/ML/451)
- Loan Range: ₦6,000 – ₦200,000
- Loan Term: 90 – 360 days
- Interest Rate: 0.04% – 0.08% per day
- Processing Fee: 1% of principal
- Max APR: 33.26% annually
- No Collateral Needed
- Disbursement Time: Within 5 minutes of approval
Features and Benefits
1. Simple Loan Application
With just a smartphone and a few minutes, users can register, apply for a loan, and receive funds in their account. There’s no need to visit a bank or submit paperwork.
2. Unsecured Loans
No collateral or guarantors are required, making the app accessible to a wide audience—including first-time borrowers.
3. Digital Convenience
You can apply anytime, anywhere, without needing to queue or handle paper forms.
4. FCCPC-Approved
Cash9ja has an FCCPC license, offering borrowers some assurance that the app is operating within legal guidelines.
5. Uses Are Flexible
Loans can be used for everything from personal expenses to medical bills, rent, school fees, or small business support.
Loan Example (From App Disclosure)
- Loan Amount: ₦6,000
- Term: 90 days
- Daily Interest: 0.06%
- Total Interest: ₦324
- Processing Fee: ₦60
- Total Repayment: ₦6,384
- Monthly Installment: ₦2,128 over 3 months
On the surface, these rates seem affordable and transparent, but users report a different story.
Real User Reviews: Mixed at Best
To get an honest view of Cash9ja’s performance, we dug into multiple user reviews from the Play Store. Here’s what people are saying:
Positive Feedback
Muhammed Olatunji (Dec 2, 2024):
“This App is extraordinarily good. Easy to operate, simple English, and no unnecessary phone access. Love this app, though my loan hasn’t been disbursed yet.”
A handful of users like the app’s simplicity and interface. However, the majority have strong complaints.
Negative Feedback and Complaints
Olajuwon Ayomide (Apr 7, 2025):
“A complete scam. High interest, hidden fees, buggy app, and harassment starts before your due date.”
Jahnet Ebami (Feb 25, 2025):
“They are loan sharks. Threats and curses start the morning of the due date. Terrible customer service.”
Chidi Samuel (Dec 1, 2024):
“They changed the loan terms after I agreed to the initial offer. Reduced loan amount, shortened tenure.”
Gabriel Dadu (Dec 4, 2024):
“Threats even before the due date. Very unprofessional.”
Nasir Abba (Dec 11, 2024):
“App keeps freezing. Can’t repay my loan because I can’t access the repayment details.”
Common Issues Reported
- Harassment Before Due Date: Threatening calls and messages even before repayment is due.
- Sudden Changes to Loan Terms: After approval, the app sometimes reduces the amount disbursed or shortens the repayment period without notice.
- Buggy App Experience: Multiple reports of freezing, crashing, or failed logins.
- Partial Disbursement: Some users receive less than the amount approved.
- Data Privacy Concerns: Users mention difficulties deleting personal information.
- Customer Service Failures: Many say support is unhelpful or rude.
Privacy & Permissions
Cash9ja claims that user data is never shared without explicit permission and encourages users to read their Privacy Policy. However, the number of complaints involving misuse of personal data and communication with user contacts raises red flags.
Customer Support Number
- Email: service@samuedltd.com
- Number: 0902332334405
- Website: www.samuedltd.com
- Support Hours: 9:00am – 6:00pm (Mon–Sat)
- Office Address: 115 Mado Street, Tudun Wada, Plateau State, Nigeria
Unfortunately, based on user reports, contacting support rarely leads to timely or helpful resolutions.
Pros and Cons
Pros:
- FCCPC-approved and regulated
- Simple and quick application
- Clear fee structure on paper
- No collateral needed
Cons:
- High effective interest rates when fees are added
- Frequent changes in approved loan terms
- Harassment tactics before the due date
- Technical glitches and app instability
- Poor and unprofessional customer support
- Partial disbursement or loan rejections after approval
Is Cash9ja Legit?
Yes, Cash9ja is legally registered and approved by the FCCPC, which gives it a level of legitimacy. However, user experience tells a more complicated story. Many borrowers report unethical behavior, poor support, and aggressive debt collection practices that undermine the app’s legal standing.
Should You Use Cash9ja?
You can consider Cash9ja if:
- You urgently need a small loan
- You understand the real total cost beyond the advertised rates
- You can repay within the shortened timeframes, even if the terms suddenly change
Avoid Cash9ja if:
- You’re sensitive to aggressive reminders or harassment
- You want consistent terms and transparent practices
- You need responsive customer support
Safer Alternatives
If Cash9ja’s tactics make you uneasy, you may want to consider better-reviewed alternatives like:
- Carbon – Transparent fees, strong customer support
- Branch – Global reputation, smooth user experience
- FairMoney – Well-regarded and CBN-regulated
Final Verdict
Cash9ja operates within Nigeria’s digital lending framework, but its behavior mirrors that of unregulated loan sharks. Users are right to be wary. Between technical issues, shifting loan terms, and poor support, Cash9ja earns a cautionary rating.
Final Score: 2/5 – Legally licensed, but ethically and functionally questionable. Borrow only if you’re fully informed and have a backup plan.
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