Contrary to popular belief, CBN and the Federal Government—not the loan apps—are the root of the problem. Their weak regulations and inconsistent policies have created an environment where loan apps can operate freely, leading to the collapse of many microfinance banks across the country.

We explain:

✅ How loan apps took over the credit space

✅ Why microfinance banks struggled to survive

✅ The policies CBN could introduce today to end loan-app madness

✅ What Nigerians must know to protect themselves financially