Naijaloan Review: Is Naijaloan Scam or Legit?

This generation is experiencing the use of technology to cause rapid wealth creation in the middle class. Oh yes, with many online platforms such as nnuforum, ATPAYS and naijaloan it is quite very difficult to see any well informed youth who has a dry bank account. Gone are the days where a 17 years old boy would have just #50 in his so called bank account, and you know the funniest thing? He would even be looking for a way to use it, lol.

So today I am going to be showing you something legit. As you well know, I do not introduce to you programs I have not tasted personally.

So let’s get started.


What is naijaloan

According to what is on the website, NaijaLoan is a member-to-member lending platform, with a vision of creating wealth with minimal risk to our members. 


As a NaijaLoan member, you can earn up to N120,000 monthly, while starting with just N1,000.


Now that is what they tell you, now listen to what I can tell you. Naijaloan is nothing more than a modified Ponzi scheme that may never crash, we all know that before investing our money in any platform, we are to carefully study the revenue generation model of the platform as that would determine when and how it would crash. 

Now one thing you should get clear is that the word loan you see there is clearer not true. In naijaloan there is no loan giving or loan repayment.


Just give it to me, how exactly does it work?

Okay this is how it works, you may not be told when signing up but this is clearer the truth, once you sign up, you are being paired with a person to which you will pay a certain amount of money according to your plan(please note that the person is a neutral earner like you). After contacting the person and making payment, the person would then go to his or her dashboard and confirm that you have paid him or her. After that you are required to wait for exactly 24 hours before you move on to the next step. This is where it becomes a little bit like a scam. What you are told at the beginning is that you need to referral one person before you withdrawal, this is not true for the first plan as what they actually mean is that you need to referral one person per a withdrawal of #1000. So let’s assume after paying the #1000, you refer 5 people, you are being paired with 5 others to pay you #1000 each which will amount to #5000.


If you however refer just one person, you get just #1000(meaning you either lose or gain, in fact you lost your time and data), if you refer 2 people you get #2000 and so on until you hit #5000.


What are the various plans on naijaloan?


Level 1 

In this level you will be required to pay #1000 and refer 5 people. In return you get #5000.

This seems to be the only level where you get to refer people.


Level 2

In this level you are required to pay #5000 and get #10000 within two days. No referral is needed.


Level 3

This is quite tempting, here you invest a whole #10000 and get #20000 in four days. No referral is also required.


Level 4

In this level you are required to pay #20000 and get #40000 within six days. No referral is needed.


Level 5

In this level you are required to pay #40000 and get #80000 within eight days. No referral is needed.


Level 6

In this level you are required to pay #80000 and get #120000 within ten days. No referral is needed.

This is what make them say you can earn up to #120000 monthly.


How to register 

To register at naijaloan, simply go to their official website and fill out the registration form, after that you are giving a person to which you are to make payment to.


Frequently Asked Questions

Would you advise I join naijaloan?

If you know you are capable of referring five people to the platform, yes. But if you know you are not too social to be able to get referrals then keep your money in your pocket.


What other way can I earn from the platform?

Yes, you can earn whenever you refer someone, they pay #150 per each person you refer to the platform. However I hate this part of it because you would be required to have at least #7000 accumulated before you can request a withdrawal.


What happens if I do not pay the #1000 after registration?

Well, nothing other than your account would be banned.


What happens if a downline refuses to pay me?

If the set time for them to pay you elapsed without them paying, you will be matched with another person instantly.



When I decided to use the platform, I simply just referred two friends and forgot about the rest because I suck at referring people to such programs. So if you know you got potential referral, then the ball is in your court.

Also please beware that the founders of this platform are not being known or disclosed anywhere on the platform, in fact they do not have a physical address. So who knows the site can just go down one day and that’s it. However it is a risk not to take risk. So good luck

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