Do you know that you can make money with your phone in Nigeria without spending a dime? Sounds impossible right, I will show you quite a few of them to get you started. All that you need is data on your phone and your determination to succeed. Recently, the World Bank said that food inflation had pushed more 7 million Nigerians into poverty.
We are really tough times, and we must rise to the occasion and start exploring ways to earn passive income. Here are ways you can use your phone to make money without spending a dime.
1. StatUP Referral Program
StatUP is a Fintech Company in Nigeria that allows users to save as little as #100 daily or #500 weekly. They pay their savers 15% annual interest on their savings, and savers who can consistently save for four months can apply for up to 200K zero-interest loan. StatUp has a referral program where you can earn #500 for referring someone to save 2K on the platform. You get to earn 25% of every 2K your referral saves with statUP. To get your referral link, you will have to create an on account on StatUP to get started
2. Online Teaching
There are several online learning platforms that you can earn legit money from. You must be very good at at least one thing. All you need to do is search for any of these platforms and start offering your services for a price. Now is the time to utilize that your knowledge and make good money from it.
3. Create and Monetize a YouTube Channel
Youtube is another great avenue for you to make money online with your phone in Nigeria. All you need to do is open an interesting channel that will captivate people’s attention to view your videos. People are making a fortune with only Youtube; you need to get on your feet and get to work. An 8-year-old Ryan Kaji made $29.5 million on his Youtube channel. What are you still waiting for?
4. E-commerce business
This is one of the ways you can earn money with your phone if you pay good attention and put in the work. Platforms like eBay, Jiji, etc., allow you to take a picture of your goods and upload it for customers to make a bid. You need to watch some videos on Youtube on how to get started with an e-commerce business.
5. Freelancing
Freelancing is all about offering your services online for people that need them. You don t need to be in Chicago to work for someone in Chicago. Platforms like Fiverr, Upwork, etc., allow you to create an account and bid for jobs from clients all over the world. Provided you have a good internet connection and phone; you are good to go and start earning in hard currency.
Closing Thoughts
It is simple to make money with your phone in Nigeria, but it is not easy. You will have to put in the required work and be resilient to succeed in it no matter what. The one guarantee is that you will get better every day. If you think of any other one to add to the list, kindly share in the comment section.

Are seeking to raise money for a project but find it difficult to access loan without collateral in Nigeria? If your answer is yes, this post is for you. We have carried out extensive research to compile this list of platforms that grant unsecured loans in Nigeria. Technology-driven financial platforms have now made it easy for people to get quick and instant loans with low-interest rates.
In the past, you would have to stake your asset as a guarantee before you can be given a loan, no matter how little the amount. Today, you can borrow up to millions of Naira without the need for collateral. Fintech companies are disrupting traditional financial institutions with innovative digital services. These innovative processes have made it easy and convenient for people to have access to unsecured loans.
The list below is in no particular order. Please go through it and select the one that best suits you. Meanwhile, we generated this list based on acceptability by the general public and market dominance.
Leading Companies That Give Loan Without Collateral
1. StatUP

StatUP is one of the leading savings and investment companies in Nigeria. They have designed a special loan package for their customers to access up to 200k zero-interest loan within 4 months of savings on the StatUP platform. The idea is to empower their customers with cash facilities needed to support their businesses. However, the only requirement is that you must have saved money with StatUP for a minimum period of 4 months without making any withdrawals. Also, your savings score must be at least 50%. The exciting thing about the StatUP loan package is that you will receive 15% annual interest on your principal savings.
You can create your StatUP account and start saving to be eligible to apply for this loan package.
2. Renmoney

Renmoney is another loan company in Nigeria that gives unsecured micro-business loans of up to N4 million. To qualify for this loan, your business must have a good income statement history that guarantees monthly earnings for repayment. Renmoney gives a minimum loan amount of N100, 000 with a 2.8% interest per month.
3. Carbon (formerly PayLater)

Carbon is an instant online loan app that gives you access to an unsecured loan in Nigeria. If you want instant online loans without collateral to help you cover urgent and unexpected cash needs, go for Carbon. The platform will access your Bank Verification Number (BVN) to determine your loan worth. You can access a minimum of N3000 and a maximum of N20 000 000, while the interest rate varies.
The interest rate ranges between 5-15%, depending on your loan repayment period and the amount you wish to borrow.
4. Branch

Branch provides loans without collateral to business owners in Nigeria. You can access as little as N1000 to a maximum of N200 000 within 24 hours on the Branch platform. Depending on your loan amount, you are expected to back between 4-40 weeks. You can easily access Branch loans, but they have an interest rate that ranges from 15% -34%.
The interest rate depends on your repayment history and the cost of lending for the platform.
5. KiaKia


You can access loans from Kiakia as an individual or business entity. Sterling Bank Plc backs this platform. Kiakia also allows savers to lend out funds at negotiated interests. The minimum loan amount you can get from Kiakia is N50 000, with a 3.5% monthly interest rate.
6. Aella Credit

This platform is designed to help employees access more funds with an interest rate between 4%-29%. The minimum loan amount is N1 500, while the maximum is N700 000, and the interest is between 4% -29% every month. Aella Credit offers its services in Nigeria, Ghana, and the Philippines. The loan tenure spans from 1 to 2 months.

Conclusion
Although there are other avenues where you can access loans without collateral in Nigeria, fintech companies lead the way. Today you can easily access loans without worrying about having assets for collateral. Our advice to you is that you should borrow responsibly and don’t just borrow because you can. For contributions and questions, kindly make use of the comment space below.

Sumobank is an online savings and investment platform that allows you to save money and earn an interest of 10-15 percent on your savings. The company entered into its Alpha Phase on 14 June 2019 and since then they have really taken the fintech industry by storm. As we head into the new year, SumoBank CEO, GT Igwe Chrisent in his press release on 27th December 2019 said that they have changed their name from SumoBank to SumoTrust.

The CEO said that the change of name was necessary to accommodate the new features and updates they have just added for their users. SumoTrust comes with NUBAN account numbers for customers the same way you have your commercial bank account numbers. Aside from the SumoTrust NUBAN account numbers, there is also the feature that allows users to save money in groups with ease and without any risk of losing their money.

He also said that they are working and finalizing modalities to start giving loans to SumoTrust users. It will also interest you to know that SumoTrust (formally SumoBank) is named as one of the top savings and inestment platforms in Nigeria.
Creating an account on www.Sumotrust.com requires only your full name, phone number, and email address.

Well, I will say that Sumobank online savings and investment platform has really taken the Nigerian fintech market by storm over the past few months. I just stumbled on this and decided to share, you might be a beneficiary, who knows. When you benefit from this largess from SumoBank, remember to extend the same to me for bringing the info to you (Lol).

Sumobank has launched an August Salary Savings Challenge to help people save better, especially from their salary. Five (5) lucky winners will be rewarded with N5000 each for saving at least N5000 between August 21st to 31st. The winners will be selected randomly and the prize sent to their Sumobank accounts or in the form of airtime.

you can see their official press release here https://sumobank.ng/blog/august-salary-savings-challenge/ for more information.

Still more in the knowing