1 Best APIs for Loans / Embedded Lending API in Nigeria

VFD Tech is the technology subsidiary of VFD Group Plc, a Lagos-based diversified financial holding company listed on the Nigerian Exchange Group (NGX). VFD Tech provides Banking-as-a-Service (BaaS) infrastructure through its VBaaS platform, powered in collaboration with VFD Microfinance Bank Limited — a CBN-licensed microfinance bank that is also part of the VFD Group ecosystem. The VBaaS platform enables fintechs, lenders, savings platforms, and non-bank financial companies to embed banking products into their applications without obtaining their own banking license. The VFD Tech BaaS API documentation is available at vbaas-docs.vfdtech.ng. Authentication is handled via Access Tokens generated through the VBaaS portal at vbaas.vfdtech.ng. Developers access their sandbox environment at vbaas-dev.vfdtech.ng. The portal provides a controlled, structured onboarding process — unlike pure self-service gateways, BaaS access may require completing a partnership application with the VFD Tech team. The VBaaS Wallets API is the core product. It enables platforms to create and manage digital wallets for their users, with each wallet backed by a VFD Microfinance Bank account. This means wallet balances are held in a CBN-licensed, NDIC-insured bank — not in a non-bank payment processor's float. Wallet operations include: create wallet, credit/debit wallet, check balance, retrieve transaction history, and transfer between wallets. The Loans API enables fintech platforms to originate and manage loan products through the VFD BaaS infrastructure. This is a significant product for Nigerian digital lenders that want to offer credit products without holding a separate money lending license — by partnering with VFD Microfinance Bank as the licensed lender. Loan disbursements go directly into borrower wallets or bank accounts. The Direct Debit / Debit Mandates API enables platforms to set up recurring debit authorizations on customer bank accounts. Customers authorize a standing mandate, and the platform can trigger automatic debits on a defined schedule — ideal for loan repayment collection, subscription billing, and cooperative savings deductions. The Bills Payment API provides access to Nigerian utility and VAS services: electricity (NERC-licensed DISCOs), airtime (MTN, Airtel, Glo, 9mobile), data bundles, cable TV (DStv, GOtv), and other billers. Platforms can let users pay bills directly from their VFD BaaS-powered wallets. Additional features include: QR Code payment generation and processing, POS infrastructure integration, and a Liveness Check API for identity verification during onboarding. From a compliance standpoint, VFD Microfinance Bank is CBN-licensed and NDIC-insured. All customer funds in VFD BaaS wallets benefit from NDIC deposit insurance coverage. The VBaaS platform inherits VFD Microfinance Bank's regulatory standing — a key advantage over non-bank BaaS providers. VFD Group Plc's diversified portfolio (which includes asset management, securities trading, insurance, and real estate in addition to microfinance banking and technology) gives VFD Tech a stable institutional foundation. The company is publicly listed on NGX, providing additional transparency and accountability. Pricing for VFD Tech BaaS is not publicly listed. Rates are transaction-based and negotiated during the partnership onboarding process. Developers can request a demo and pricing quotation through the VBaaS portal. Frequently Asked Questions: Can I build a lending product without a money lending license? VFD Tech's Loans API is powered by VFD Microfinance Bank, a licensed lender. Depending on your product structure, you may be able to offer credit products through VFD BaaS as an agent/partner without your own license — but legal advice is recommended for your specific use case. Are customer wallets protected by NDIC? Yes — funds in wallets backed by VFD Microfinance Bank are covered by NDIC deposit insurance up to the applicable limit.