LCredit loan app is one of the many loan apps in Nigeria giving out quick loans to customers but recent happenings and developments have revealed their true identity to be a loan shark terrorising borrowers.
Actually the way list of fake loan apps in Nigeria such as LCredit loan app, 9Credit and others send shame and defamatory messages to their customers and their contact lists is becoming alarming, worrisome and calls for urgent attention from government financial authorities and consumer protection agencies such as the (Central Bank of Nigeria (CBN) and Federal Competition and Consumer Protection Commission (FCCPC) respectively.
If you have been a steady borrower or regular patron of instant loan applications in Nigeria for some while now, it would have been obvious to you that once upon a time there was a lending application called LCredit loan app on the Google Play Store known for its notorious and fraudulent activities in sending defamatory messages to people’s contacts barely days after taking a loan.
If you are a new customer and just started patronizing loan apps and have been seeing this application listed on blogs as a fake app, you may be asking: What happened to LCredit loan app? Why was it shut down? Why was it taken down and banned from operating in Nigeria?
LCredit loan app was taken down from Google Play Store by Play Protect, an Android security system that scans apps hosted on Play Store for malware and other malicious virus and fraudulent apps and protects users from privacy infringement and invasion. LCredit is in the regular indecent habit of violating the policy rules of Google Play and breaching its customers’ data privacy by exposing them to the public and threatening them and their contact list.
What Company Owns LCredit Loan App?
LCredit loan app is owned by Cashigo International Limited and managed by some Chinese allies who portray the attitude of defaming Nigerians barely days after their loan tenure without providing additional extension or grace period. These Chinese owners are mostly loan sharks which charges very high interest and harass Nigerian customers.
Is LCredit Loan App Genuine or is it a fake loan application?
No, LCredit loan app is not genuine or legit lending platform for any reason. LCredit is a fake loan app and one of the worst money borrowing platforms that ever existed in Nigeria. The app sends defamatory messages to contacts once you take a loan with them. LCredit would start sending threatening messages to your contacts, friends, and families and exposing your photos and banking details on social media, asking you to pay back your loan even before the expiration date.
Is LCredit Loan App Download Safe?
LCredit loan app is no longer safe to download. In fact it can no longer be downloaded from Google Play Store or ASpps Store as the platform infringed on users’ privacy and violated Google policy on protecting the integrity of customers’ data. The loan app is fond of continuously defaming and sendingshame messages to its customers, which has resulted in its permanent ban from the Play Store.
Who Are LCredit Loan Defaulters?
There are a lot of LCredit loan defaulters no doubt. Despite the fact that the loan company is in the habit of threatening and defaming users’ privacies, they were still some defaulters who blatantly refused to repay their loans within and during the expiration of their loan tenure. For any reason you are taking a loan, you should be willing to pay back and not become a loan defaulter and be denied further opportunities for a loan the next time an emergency happens.
What Is LCredit WhatsApp Number?
LCredit always uses about two different WhatsApp and Telephone numbers to defame and threaten its customers. The numbers are 01 227 1640 and 0708 004 8717. However, Cashigo International Limited, the owner of the platform’s official LAN Line is 01 631 0555.
What Happened to LCredit loan App? Why Was It Banned?
LCredit loan app was taken down from Google Play Store by Play Protect, an Android security system that scans apps hosted on Play Store for malware and other malicious virus and fraudulent apps and protects users from privacy infringement and invasion. LCredit is fond of violating the policy rules of Google and breaching its customers’ data privacy by exposing them to the public and threatening them.
Scam loan app without physical address or website
LCredit online loan app has been banned by google play store over policy violation issues. The platform has no physical office address, neither does it has a website or social media pages. They claim you can borrow money online with their loan app in minutes with a flexible repayment plan and favorable interest rate. However all the claims are false and fraudulent.
Obinna Michael on October 21 expressed his disappointment with LCredit loan app. He says, “Money that has been paid with proof of transaction slips, LCredits loan app keep sending messages of defaults to contacts. If their systems are faulty they should fix it properly before coming into the business!”
Many of these loan apps do not have any physical office address, do not have a website, some don’t even have any online presence yet they found their way somehow into Google Play Store and get into scamming poor Nigerians of their hard earned money. Google should bring down and clampdown on more of these loan apps once they are discovered to be violating its set down policies.
How loan apps are spying your banking, sms and contact details
Recently LCredit loan app, Rapid Transfer and some yet to be identified quick loan apps were removed by Google from its Play Store for violating its operational policies.
Our investigation reveals that LCredit was banned by Google because the loan app was discovered by Play Protect, the security system on Play Store that scans apps hosted on its network, as involving in malicious and fraudulent activities.
It is noteworthy to say that the proliferation of fake loan apps is fast endangering and threatening the financial and digital evolution which has in greater terms facilitated financial inclusiveness of many Nigerians who have hitherto been inaccessible to the traditional banking system, and except regulatory authorities check their operations, more crisis may be ahead.
Play Protect by Google had warned users back then: “This app (LCredit App) tries to spy on your personal data such as sms messages, photos, audio recording or call history.” It went further to warn users to immediately uninstall the blacklisted LCredit app from their phone, and that if they fail to do so, and open the app, they do so at their risk.
LCredit Loan App Is Fond Of Threatening Our Lives Over Unpaid Loans — Borrowers Groan
Some former customers and borrowers of LCredit loan app told VERY SERIAL that the online loan platform is fond of threatening their lives over due and unpaid loans they collected from the app.
The customers were responding to an earlier article we published titled LCredit Still Threatening, Blackmailing Customers, Contacts After Google Play Ban where we accused the quick loan platform of continuing to threaten and blackmail its customers even after it was banned by Google Play Store.
Find below threatening complaints against LCredit by their customers: