Nigeria: Beware of Facebook Account Impersonating a Popular Mobile App for Loans in Nigeria

IN SHORT: A Facebook page is impersonating a popular app and offering false loans. Palmcredit has urged Nigeriansto keep an eye on its verified social media accounts.

“Hi, I’m your Online Virtual assistant palmCredit. How can I assist you,” reads a post on Facebook.

It was posted by the account Instant Loan Online – Palmcredit on 27 June 2023 and lists a number of services, including loans.

An image promoting loans by Palmcredit is also attached. The Facebook page also uses Palmcredit’s logo and name.

Palmcredit is a company that offers loans within minutes to qualifying customers via their mobile phones. The company’s offices are in Lagos, Nigeria.

Similar posts can be found here and here.

But is this Instant Loan Online – Palmcredit account and its offers genuine?

Fake page

The page is named Instant Loan Online – Palmcredit, but the platform is known as Palmcredit on Facebook. This is a sign that the former is a fake page.

The suspicious account has no more than two followers and was created on 27 June 2023.

By comparison, the official Palmcredit page is followed by over 400,000 people and was set up in May 2018. It is verified by Meta.

Fraud in app’s name

In a post on Facebook, the company warned its customers to steer clear of fake pages using its name.

The post reads: “Palmcredit will never ask you to pay into a personal Account. All loan repayment is done In App seamlessly. Remember we do not have WhatsApp numbers. All complaints are resolved through our social channels and through our office numbers.”

In a tweet, the company explained how customers could protect themselves against online scams. In another tweet, the company encouraged users to only follow its verified social media pages.

Promising quick loans may be scammers’ way of obtaining the user’s confidential information, which may even be used to commit fraud.

Africa Check has investigated several cases of false loans on Facebook.

To help protect yourself against online scams, read our guide here.

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