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Scam alert! Nigerians beware of Facebook account impersonating credit provider OKash

IN SHORT: Some Facebook posts are asking users to send an email to get a loan from OKash. But the company says loan applications can only be done via its mobile app. The posts should be ignored.

Do you need extra money for your Christmas shopping, business or monthly bills? The Facebook account OKASH LOAN says it can help Nigerians with loans.

One of its posts, dated 5 September 2023, reads: “Apply for a quick and convenient loan to start a new financing of your projects at a cheapest interest rate of 2% … CONTACT US NOW VIA EMAIL: [email protected] for more info.”

The account uses the name and graphics of OKash, a mobile-based credit provider in Nigeria.

Similar offers have been made here, here, here, here, here, here and here.

But can the page and its loan offers be trusted? We checked.

Okash_Scam

Apply for a loan through the app

We first noted that the page in question has just nine followers, which is suspicious for a popular money lending app with over five million downloads

The page was created on 12 August 2022, but OKash expanded to Nigeria in 2019. It’s unlikely that a business looking to attract new customers would wait three years to establish social media accounts.

Africa Check found what appears to be the official OKash Facebook page. It is named OKash Nigeria, has over 40,000 followers and was created on 12 November 2019, the year it launched in Nigeria. 

In May 2023, the OKash Nigeria page urged customers to stay alert and not fall victim to fraud: “Please note that if the link on any of our post does not carry the Google play store link that directs you to Okash app, it is not from us.”

However, we couldn’t confirm whether this is the company’s official account. It is not verified by Meta and the social media links found on OKash website do not function.

The post by the suspicious account asks users to send a mail to “[email protected]” to get the loan. This does not match the email address provided on the company’s website –     [email protected] – which is seemingly meant for customer support and not loan approvals.

Africa Check reached out to OKash to enquire about the application process. In a response, the company said the only way to get a loan was to download the app, register and choose the type of loan we wanted. All signs point to the offers posted by the suspicious account being bogus.

Read our guide on how to spot online scams here.

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