Naijaloan Review: Is Naijaloan Legit or Scam? All you need to know

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WHAT IS NAIJALOAN

NaijaLoan is a member-to-member lending platform, with a vision of creating wealth with minimal risk to members and was created on the 21st of March 2020.

this means that  whenever a member is giving a loan, the member is giving it directly to another member on the platform, and whenever a member is requesting for a loan, another member on the platform will give the loan directly to the other member. Naijaloan are like middle-man that connects everybody, Just like the popular MMM, they seems to be using the same method, Risky right?

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Is Naijaloan Legit?

As at the time of this post, Naijaloan pays registered members and the system seems to be doing well However this type of peering system is too risky, Naijaloan won’t be able to pay all registered members as soon as the platform is crowded, they will run out of cash and the system might crash, many have tried this system in a legit way and it didn’t work, so i won’t say naijaloan is a scam because their intention might be positive but how the system works is very risky, since naijaloan platform is still new, make sure you invest little amount of money and gather your profits first if not avoid this platform.

also read Giftalworld Review 2020: Giftalworld Can be trusted but not reliable (See Why)

How does Naijaloan Work?

Naijaloan has 6 levels:

Level 1 You pay N1000 and get N5000 same day, you then make your withdrawal and upgrade to level 2.

Level 2 You pay N5000 and get N10,000 in two days, you withdraw and upgrade to level 3

Level 3 You pay N10,000 and get N20, 000 in four days, you withdraw and upgrade to level 4

Level 4 You pay N20,000 and get N40,000 in six days, you withdraw and upgrade to level 5

Level 5 You pay N40,000 and receive N80,000 in eight days, withdraw and upgrade to level 6

Level 6 You pay N80,000 and get N120,000 in ten days, withdraw your N120,000

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Facts you should know about Naija loan

The platform is still very new, you can relate this with existing starts and users as claimed by the owners on this website, something is most certainly not adding up. It lacks reputation, however, there have been some sour reports about this already. It does not have a physical address, have you taken your time to go through the website in search of its address, you certainly wouldn’t see it anywhere around, not even a registered business in Nigeria, so it left a lot to question. The real owners of this website were not even disclosed just like any honest and genuine business will do, why do you think they are hiding their identity, the dooms day is surely ahead, when it finally comes, zooming off with ease comes like a, b and c. They claim to have paid N10,905,000. Investigation shows they commence operations on 21st March 2020. They are equally boasting of 22,826 members as at the time of writing this review, how true and significant can this be? Lies from the pit of hell.

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How to Register On Naijaloan

To register and become a member, you’ll have to pay #1000. Your default level will be level 1. Follow the steps below to register.

Visit naijaloan Registration page here and click on “Get Started” as seen in the image below.

naijaloan review, naijaloan

Then, fill in the required details correctly and click on “Register”.

naijaloan registration, naijaloan review, naijaloan
After that, you’ll be paired with someone. The person is who you’ll pay #1000. This usually take few minutes.

also read TEAM BULLDOZER INCOME PROGRAM REVIEW

CONCLUSION

Naijaloan is still new, and you should be aware that to have a high reputation and trust you need to do this right, probably this is what they are doing, honestly, i won’t recommend anyone joining a platform with this type of system, it does’nt work.

But if you still decide to join, be very careful, and don’t over invest because you get paid the first and second time, start with little and continue with little.

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Written by Blogger Presh

Eshemokhai Precious Is the CEO of Friends Impact. He is a Passionate Blogger & Digital Marketer.He is the guy that Invests alot of time and resources in making people the best version of themselves. You can Join Our Telegram channel here to get latest updates on Tech.
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