Naijaloan Review: Is Naijaloan Legit? Another MMM Platform

Naijaloan is another online money making scheme that has gone viral again, promising to issue out loan to its members and at the same time provide them with the opportunity to make money. This Naijaloan Review covers alot about the platform and if they are legit or not.

Alot of people have lost so much money online to these fake sites and yet they still keep coming day in day out, Naijaloan is not far from them because to me it’s an MMM-Like platform.

About Naijaloan (Review)

According to the information on their website, Naijaloan is an innovative member-to-member lending platform where all members are lenders and borrowers at the same time.

Member-to-Member lending means whenever you are giving a loan, you are giving it directly to a member on the platform, and whenever you are requesting for a loan, another member on the platform will give you the loan directly.

We are the middle-man that connects everybody. That is, we are not the one giving you the loan, neither are we the one borrowing from you.

The website was created on the 21st of March and since then has gained popularity although there has being alot of panic from its members that Naijaloan is not real and may crash sooner or later.

How Naijaloan Works

Naijaloan is a platform where people borrow money and at the same time receive loan from others and the whole process continues.  but what if people stops joining the business? Keep reading……

whenever you give a loan, you are also borrowing from the platform. So let’s say you give a loan of N5,000 (on level 2), you will get N10,000 back (the N5,000 you gave + N5,000 interest). But at the same time, it means not only are giving a loan of N5,000, you are also borrowing N10,000.

Here is the scope. You gave a loan of N5,000 in order to get N10,000 right? That’s right. You will get your N10,000 without stress.

But whenever you upgrade (let’s say from level 2 to level 3), you will have to pay back the N10,000 you are owing the platform (that N10,000 we said you borrowed). And that N10,000 you paid will upgrade you to level 3, where you will get N20,000 in return.

So in other words, you paying N10,000 to move from level 2 to level 3 means you have paid back the money you borrowed & you are also giving a new loan at the same time.

In summary, whenever you give a loan on NaijaLoan, you are borrowing & lending at the same time and the whole process continuess

But however the business doesn’t seem reliable because what if a member borrows money and fails to pay back? However the platform claims that if a member fails to pay back the borrowed money, other members will be paired to pay the borrowed money

In summary this looks like a pyramid scheme and this is how pyramid schemes operates and the story always ends in tears

How Naijaloan Levels Works

The platform claims to have only six levels on its platform, as members can activate on the platform starting from any level.

Almost newly members starts with the first level with N1000.

There are two options for registered Members on Naijaloan,, It’s either you lend or you borrow.

Naijaloan Level 1:

This is the default level for all members. You’ll have to pay N1k and get N5k within one day which you can withdraw or use to upgrade to level 2.

Naijaloan Level 2:

You’ll have to a pay N5k to upgrade to level 2 and get N10k in 2 days which you can withdraw or use to upgrade to level 3.

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Naijaloan Level 3:

To upgrade to level 3, you’ll have to pay N10k and get N20k within 4 days which you can withdraw or use to upgrade to level 4.

Naijaloan Level 4:

On this level, you’ll have to pay N20k and get N40k within 6 days which you can withdraw or use to upgrade to level 5.

Naijaloan Level 5:

To upgrade to level 5, you’ll have to pay N40k and get N80k within 10 days which you can withdraw or upgrade to level 6.

Naijaloan Level 6:

This is the highest level. You’ll have to pay N80 to upgrade to this level. Naijaloan will give you N120k within 10 days

Naijaloan Registration

Honestly i will not recommend anybody to join Naijaloan because it doesn’t just seem real, Naijaloan has promised to turn your 1k into 250k, i mean who does that?

So if you are thinking how to register on Naijaloan I will advise you read this article once again so that you don’t end up losing your hard end money and don’t end up as a victim to scam.

Is Naijaloan Legit? (Naijaloan Review)

Like i said before Naijaloan is pyramid scheme scheme and nothing good comes out of a website that is a pyramid scheme it all end in tears. if you may want to find out if Naijaloan is legit then below is a proof

What is a Pyramid Scheme?

A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.

As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

The scheme is called a “pyramid” because at each level, the number of investors increases. The small group of initial promoters at the top require a large base of later investors to support the scheme by providing profits to the earlier investors.


Secondly Naijaloan Founders does not tell us how the website generate revenue or make money, they claim that once a member joins the platform he is lending money to other members while others at the same time are borrowing.

Checkout the screenshot below from a Naijaloan member!!


Is Naijaloan LegitNaijaloanNaijaloan Review


Naijaloan is purely a pyramid scheme, and since the source of revenue on how the owners make money from this business is not known they may decide to shutdown the business as soon as unsuspecting Nigerians have registered with their hard end money and that will be the end.

Thirdly the CEO of Naijaloan Pyramid scheme is not know therefore loosing its authenticity and is subjected to illegal activities

So the whole process of this Naijjaloan is to get people to join the business and when a lot of people have joined the founder will now shutdown the business and run away

To make out my conclusion Naijaloan is scam and Another MMM run for your dear life and also inform others not to be deceived to join this fake pyramid scheme.


Conclusion: Naijaloan Review

Naijaloan is not an ideal business to leverage your hand earned money on, the business is purely a pyramid scheme where it can crash anytime any day as soon as the founder has made money from it to satisfaction.

Beware of all these income schemes that promise us gold but we end of eating sand, what is your view on this Naijaloan review? do you have any contributions? hit the comment box



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