AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Nairametrics reported in June 2026 that OKash lends ₦3,000 to ₦3 million over 91 to 365 days at 3% to 15% a month, and that it is owned by Blue Ridge Microfinance Bank. An earlier December 2024 listing described the rate as calculated daily, with an APR of 36.5% to 360%, so read the total repayable in your own offer before you accept.
OKash is a mobile loan app that many Nigerians reach for when they need money before payday. The price is not the same for everyone, and published figures for it disagree, so the most useful thing this guide can do is lay out what has been reported, explain the conflict, and show you how to turn any OKash offer into a naira total.
What has been reported about OKash
| Item | Nairametrics, Dec 2024 | Nairametrics, Jun 2026 |
|---|---|---|
| Loan amount | ₦3,000 to ₦1,000,000 | ₦3,000 to ₦3,000,000 |
| Tenor | 91 to 365 days | 91 to 365 days |
| Interest | 3% to 15%, calculated daily; APR 36.5% to 360% | 3% to 15% a month |
| Who is behind it | Managed by Blue Ridge Microfinance Bank | Owned by Blue Ridge Microfinance Bank Limited |
Why the published figures do not agree
The two listings describe the same 3% to 15% band in different ways. A rate of 3% a month is about 36% a year, which matches the 36.5% APR at the bottom of the 2024 range. But 15% a month is about 180% a year, while the 2024 listing gave a top APR of 360%. Either the top rate has changed, or the band was being quoted on a different basis in each report.
The practical lesson: do not rely on a percentage you read online. The OKash loan agreement should state the rate, the period it applies to (daily, monthly or yearly), any service or processing fee, and the total repayable. That total is the only figure you can compare with another lender.
Worked example: an OKash-style loan over 91 days
This is an example only, using the two ends of the 2024 APR range to show how wide the cost can be.
- Amount borrowed
- ₦50,000
- Tenor
- 91 days
- At 36.5% a year (0.1% a day): ₦50,000 × 0.1% × 91 = ₦4,550 interest, so ₦54,550 in total.
- At 360% a year (about 0.99% a day): ₦50,000 × 360% ÷ 365 × 91 ≈ ₦44,877 interest, so about ₦94,877 in total.
The same ₦50,000 for the same 91 days could cost about ₦4,550 or about ₦44,877, depending on where you sit in the range. That is why reading the total, not the rate, matters. If a service fee is deducted from the amount paid out, the real cost is higher again because you receive less than ₦50,000 but repay interest on the full amount.
Charges beyond the interest rate
Neither Nairametrics listing named a separate OKash fee, but the absence of a fee in a press table does not mean there is none. Many app lenders add one or more of the following, and each changes the real cost:
- A service or processing charge, sometimes taken from the amount paid out so you receive less than you borrowed.
- A late fee, charged once or each day after a missed due date.
- Extra interest on overdue amounts, which can make a short delay expensive.
- Value added tax on fees, where it applies.
The cleanest way to see all of this is to read the line in the agreement that gives the total repayable and compare it with the amount that will land in your account. If those two numbers are far apart, the loan is expensive whatever the headline rate says.
A quick test before you accept
Divide the cost (total repayable minus amount received) by the amount received, then by the number of months. If a ₦50,000 loan has ₦9,000 of cost over three months, that is 18% in all, or 6% a month. Doing this sum takes a minute and is the most reliable way to compare OKash with any other offer, including a bank salary advance.
How your OKash limit is set
New borrowers are usually offered amounts near the bottom of the range. Limits and rates tend to improve after loans are repaid on time. The lender may consider your BVN-linked identity, your phone and transaction data, and your history with credit bureaus. Our guide to growing a credit limit explains what lenders look for.
Repaying OKash: what to check first
- Each due date and amount, in naira, as shown in the agreement.
- Whether repayment is by card debit, transfer to a stated account, or both.
- Late fees and how extra interest builds if you miss a date.
- Whether repaying early reduces the interest owed.
- The FCCPC register of digital lenders; we have not verified OKash's current status for this article, so check the register yourself.
Compare OKash with a similar app in OKash vs EaseMoni: what each actually charges, and read who owns OKash and its register status.
Where Pryme fits
For planned household spending, Loans on Spaces is an alternative to a cash loan: Solid Allianze MFB may offer a limit, shows the full agreement for you to accept, and the money can only be spent with Spaces merchants.
Questions people ask
How much does OKash give for a first loan?
Nairametrics reported a range starting at ₦3,000. First loans are usually near the low end; the app shows your offer.
What is OKash interest rate per month?
Nairametrics reported 3% to 15% a month in June 2026. The 2024 listing described the rate as daily with an APR up to 360%, so check the total in your agreement.
How many days does OKash give for repayment?
Reported tenors run from 91 to 365 days. Your schedule sets the exact dates.
Who owns OKash in Nigeria?
Nairametrics reported in June 2026 that OKash is owned by Blue Ridge Microfinance Bank Limited.
Sources
- Nairametrics: Top 10 highest rated loan apps in Nigeria (June 2026) · accessed Oct 2026
- Nairametrics: Top 10 loan apps in Nigeria and their interest rates as of December 2024 · accessed Oct 2026
- FCCPC: Registration of digital money lenders under the digital lending framework · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.