Carbon resumes mobile loan top-up services


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Instant loan service provider, Carbon, has resumed operations as gradual easing of the economy takes effect in Africa’s largest economy. The fintech operator wants customers to begin applying for its loan and investment offerings which start from as low as a few thousand and peak at N10 million.

Fintech services are cropping up in Nigeria to fill the gap left by the deposit money banks which have failed to fully serve people in distant, tough cities – including citizens at the lower stratum of the economy. Likewise with interest rate pegged at 25-30% short term, taking facility in those brick and mortar banks has been a real scare for many.

Nigerian fintech Carbon sets up $100k Pan-African fund - Ventureburn
Chijioke Dozie with Facebook founder, Mark Zuckerberg. Chijioke previously worked for IFC as financial analyst. In that role he helped deepen financial inclusion in sub-Saharan Africa

Services like Carbon, Renmoney, and Creditville, have been a relief for fund starved, stranded employees and small business owners. However, the lockdown of business activities around the world since April put some constraints on the capacity of fintech operators.

Co-founded by a former investment analyst, Chijioke Dozie, Carbon is now inviting the public to take advantage of its loan top again and investment packages.  

According to the operator, users can take advantage of its upgraded service with added benefits of N20,000 health allowance. The users will be qualified for that benefit when they:

  1. Send money to friends and family
  2. Pay your bills on Carbon
  3. Invest as low as ₦100
  4. Buy airtime for yourself and friends
  5. Repay your loans on time
  6. Refer your friends to Carbon

Fintech is expected to boost Nigerian annual GDP by $3.7 trillion before 2025. This huge projection makes the sector lucrative for investments and startups, as more Nigerians seek easy, convenient and inclusive financial services.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.


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