For CBN-licensed microfinance banks, FCCPC-registered digital lenders and state-licensed money lenders: naira books, transfer and USSD repayments posted against the loan, and the portfolio-at-risk figures a CBN return or an investor pack is built from.
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Built for Lenders in Nigeria
Lendbox is loan management software in Nigeria for microfinance banks and digital lenders: one naira loan ledger with double-entry accounting under it, so the figures in a CBN return, a credit bureau submission and an investor update all come from the same loan records. See how Lendbox compares with other software for loan management.
How a Nigerian lender runs its book on Lendbox
Whether you run a unit microfinance bank in Lagos or a digital lending app registered with the FCCPC, the loan goes through the same stages. Lendbox keeps them on one record so nothing is reconstructed at month-end.
Add the borrower with the ID, phone number and address on file, and let AI document verification check the uploaded ID, bank statement or payslip before an officer appraises the loan.
Price the loan the way your product sheet does, flat or reducing balance, with fees and penalties itemised on a schedule the borrower can see in the client portal before accepting.
Route the application through the approval ladder, record the bank transfer that disburses it, and let the general ledger post the journal entries on activation.
Post each repayment against the loan as it lands in your bank account, or upload the day's collections as one bulk batch. Reminders go out by SMS, email or WhatsApp before each due date.
Ageing buckets, the arrears dashboard and portfolio at risk by product, branch and officer give the days-past-due view your CBN return, bureau submission and investor pack all need.
Lending in Nigeria
Nigeria regulates lenders by what they are. A microfinance bank, a digital lending app and a state-licensed money lender answer to different bodies, but each is judged on the quality and conduct of the same kind of loan book.
Central Bank of Nigeria, licensed by tier (unit, state, national)
MFBs report prudential returns to the CBN, including loan classification by days past due and provisioning against each class. Lendbox supplies the loan ledger side: ageing buckets per loan, PAR by product and branch, and a double-entry general ledger with trial balance, P&L and balance sheet behind them.
FCCPC registration under the digital lending framework
Online and app-based lenders register with the Federal Competition and Consumer Protection Commission and are held to conduct rules on pricing disclosure and collections. Lendbox logs every reminder sent and every repayment posted against the loan, so the collections trail is there before a complaint is.
State money lender licences (e.g. Lagos State)
Smaller lenders hold a licence from their state rather than the CBN. Lendbox's Basic plan is sized for a one-branch money lender, and the loan agreement and repayment schedule print in naira with the terms a state licence requires you to disclose.
CRC Credit Bureau, FirstCentral, CreditRegistry
Licensed lenders submit borrower repayment data to the bureaus. Lendbox keeps the full repayment and arrears history per borrower, so the record you submit from is the one your officers work from.
Pension, NHF and PAYE under the Nigeria Tax Act
For lenders running staff loans, the payroll module's Nigeria preset applies pension contributions, the National Housing Fund and PAYE, and deducts staff loan repayments on the pay run.
Sources · Central Bank of Nigeria — Other financial institutions · FCCPC — Limited Interim Regulatory Framework for Digital Lending · Reviewed .
Money in Nigeria
The book, the statements and the reports run in naira. Repayments reach you by transfer, USSD or an agent, and Lendbox records them against the loan; it does not sit in the payment flow.
Set the workspace currency to naira once and every loan, schedule, statement and financial statement follows.
Post a repayment against the loan when it lands in your account, or upload a collection run as one bulk batch from the Excel template.
Staff loans and payroll run in the same workspace, with the Nigeria statutory preset applied to each pay run.
Pricing
Subscriptions are charged in US dollars by card. The naira figures below are converted at an indicative rate, because the naira amount on your card statement depends on your own bank's rate that day. See the full loan management software pricing in Nigeria.
Prices shown in Nigerian Naira (NGN)
NGN 34,000
/month
Billed yearly at NGN 410,000
NGN 120,000
/month
Billed yearly at NGN 1,500,000
NGN 190,000
/month
Billed yearly at NGN 2,200,000
NGN 255,000
/month
Billed yearly at NGN 3,050,000
Yes. Set the workspace currency to NGN and every loan, repayment schedule, borrower statement and financial statement is in naira. Lendbox runs the loan ledger and the accounting behind it; deposit products are not part of the system.
An officer posts each repayment against the loan when it lands in your account, or you upload the day's collections as one bulk batch from an Excel template. Lendbox does not connect to Nigerian payment switches, so nothing is pulled automatically; the reminder, the posting and the receipt are all logged on the loan.
It gives you days past due per loan through the ageing buckets, and portfolio at risk by product, branch and officer. You map those to the classes in your return and post provisioning entries to the general ledger. Lendbox does not file the return.
Every reminder sent by SMS, email or WhatsApp, every repayment posted and every change to the loan is recorded with who did it and when. That log is the collections trail, and it exists without an officer keeping a separate one.
Yes. The client portal shows each borrower their loan, schedule, repayments and documents, and lets them apply for a new loan online. The schedule shows interest, fees and penalties itemised, so the disclosure is in front of the borrower before they accept.
Yes. The payroll module ships a Nigeria preset with pension contributions, the National Housing Fund and PAYE under the Nigeria Tax Act, and staff loan repayments are deducted on the pay run. Lines your HR policy adds are configured per employee.
Four plans, from Basic for a one-branch MFB with one staff login up to Enterprise. The subscription is a dollar card charge; the pricing grid on this page shows a naira equivalent when a rate is available, and your bank's own conversion sets the naira on your statement.