Are you considering using NiceNaira, also known as NiceNaira Plus, and wondering whether it’s safe, reliable, or worth your trust? Here is a review of the Nice Naira loan app.
What is Nice Naira App
Nice Naira Plus (commonly known as Nice Naira) is a Nigerian loan app that provides quick personal loans to users. It is currently available on the Google Play Store, with no iOS version.
You can register for loan using your phone number, basic personal and financial information, all within the app.
You just need to:
- Download the app
- Register with your phone number
- Fill in basic personal and financial details
- Apply for a loan
It sounds simple, and for some users, it really is. But before you rush to download it, keep reading. There’s more you should know.
Note: NiceNaira does not currently have an iOS app version for iPhone users.
Who Owns Nice Naira Loan App?
The app is owned by Coreinnovate Digital Solutions Limited, a tech company that is based in Lagos, Nigeria, with Corporate Affairs Commission registration number 7429966.
The app also appears under another name: Giasun Technology Nigeria Limited, which was listed on the FCCPC’s list of approved loan apps in Nigeria. This means the app is legally allowed to operate in Nigeria—at least as of July 2025.
Loan Terms
Nice Naira loan app advertises flexible loan amounts and repayment terms; it claim to offer loan amounts up to ₦200,000 depending on user credit score. Loan durations range from 91 to 360 days (approximately 3 to 12 months). The app charges an interest rate of 0.5% per month on the principal, along with a flat service fee between 6% and 24% of the loan amount.
This translates to an approximate APR of 12% to 30% annually when fees are included. According to the app, there are no hidden charges—no extra fees for processing, rollovers, or transactions.
For example, borrowing ₦20,000 for 3 months at 0.5% monthly interest plus a 6% service fee results in a total repayment of ₦21,500 (APR ≈ 12%).
Although the app claims to offer terms of several months, many users report much shorter repayment periods, like between 7 and 30 days. Penalties for late repayment aren’t clearly listed; user feedback suggests the app enforces strict deadlines and uses aggressive recovery methods for missed payments.
See Also: Ajomoni Loan App Review: Is It Safe, Legit, and Worth It in 2025?
| Loan Feature | Details |
|---|---|
| Loan amount | Up to ₦200,000 (based on credit score) |
| Loan term | 91–360 days (3–12 months) |
| Interest rate (APR) | 12%–30% (≈0.5% per month on principal) |
| Service fee | 6%–24% of loan principal (flat fee) |
| Other fees | Claimed none (no hidden/rollover/transaction fees) |
| Example repayment | ₦20k principal over 3 mo: repay ₦21,500 (APR 12%) |
| User Ratings | Google Play: ~1.9★/5 (54 reviews) |
| Apple App: Not available (no iOS version) |
Eligibility
To qualify for a loan from Nice Naira loan, you must:
- Be a Nigerian citizen
- Be 18 years or older
- Have a valid BVN (Bank Verification Number)
- Own a bank account
- Provide NIN and ATM card details during registration
The whole process is 100 percent online, and there’s no need to submit physical documents.
See Also:
- Ultra Naira Loan App (Download, Review, Alternative, is it legit?)
- Specta Loan App: Requirements, How To Apply, Review, Is It Legit or Scam?
How to Download the Nice Naira Loan App and Apply for a Loan (Step-by-Step)
- Go to the Google Play Store and search for Nice Naira loan app.
- Download and install the app.
- Register using your phone number.
- Provide personal and financial details (BVN, NIN, card info).
- Choose your loan amount and apply.
- If approved, the loan will be sent to your bank account immediately.
Note: The Nice Naija Loan app is currently not available for download, possibly due to an ongoing upgrade. With this, you cannot download it on the Google Play Store at this time.
User Reviews and Rating
The Nice Naira loan app has a very low average rating of 1.9 out of 5 stars on Google Play, and 65% of the 54 reviewers gave it just one star. It is only a few users that praised the app for its fast loan disbursement, with some claiming funds arrived within seconds of approval. For example, one user described it as “legit,” but the majority of users report serious concerns, like high interest rates, misleading terms, and poor transparency.
Some users report that the loan app engages in aggressive loan collection tactics, like sending threatening messages via SMS or WhatsApp, even after completing your payment.
But based on our reviews, we can say that the loan app is a “Dangerous Loan” app because of its high interest rates and high risk.
Warnings
- NiceNaira is one of the loan apps accused of harassment, defamation, and data abuse.
- It’s listed as a dangerous loan app due to extremely high fees and abusive collection practices.
- Some users say their personal contacts were messaged or threatened.
Final Thoughts
Nice Naira claims to offer quick access to loans, but it is risky due to high interest rates, hidden fees, and aggressive collection practices; we don’t recommend it as a safe or reliable lending option. You can seek more transparent and regulated alternatives.
Our Advice:
- Read the terms carefully before accepting any loan.
- Try borrowing from a lender with higher ratings and better reviews.
If you feel mistreated by any loan app, report it to the FCCPC or CBN Consumer Protection Department.
Summary Table
| Feature | Details |
|---|---|
| Developer | Coreinnovate Digital Solutions Ltd |
| Licensed Lender | Giasun Technology Nigeria Ltd |
| FCCPC Approval | Yes |
| Max Loan | ₦200,000 |
| Loan Term | 91–360 days |
| Interest and Fees | 12%–30% APR |
| Google Play Rating | 1.9 / 5 |
| Harassment Reports | Yes |
Contact and Support
- Official Website: nicenaira.com
- Download Link: NiceNaira on Google Play
- Support: Contact details are available on the app page.
If this article helped you, feel free to share it with others who may be considering Nice Naira.
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