Detty December: Where to Get a Loan – and When You Really Shouldn’t

Every December in Nigeria brings the same pressure: concerts, travel, outfits, family events, and endless “Detty December” plans. 

While the holidays should be fun, many people feel tempted to take out quick loans just to keep up with the pace.

Before you start searching for “Detty December loan apps,” it is important to understand two things: where you can get a loan if you truly need one, and when borrowing for December enjoyment is simply a bad idea.

Ask yourself first: Do I really need a loan for this?

Not all expenses are equal. Taking a loan for rent, medical bills or urgent family needs is very different from borrowing for club nights and new outfits.

A simple rule is this:
If you will still be paying for it long after December is over, ask yourself if the expense is worth it.

Loans must be repaid from your 2026 income. If your January salary is already looking tight, adding loan repayments may throw you into a new year of stress. Sometimes, the best financial decision is to cut down your December plans instead of borrowing to fund them.

If you must borrow, these are more structured options

If, after thinking carefully, you still decide to take a loan for travel, an important family event or other planned spending, try to use more formal and regulated options instead of random, unverified apps.

Loans from your regular bank

Many commercial banks in Nigeria offer personal loans and salary advance products to customers. Because the bank already knows your income and account history, approval can be faster and interest rates more transparent. The repayment is usually spread over a few months, and deductions are made directly from your account or salary.

Microfinance banks and licensed digital lenders

Some licensed microfinance banks and digital lenders provide small-ticket loans for short periods. If you follow this route, look for providers clearly registered with the Central Bank of Nigeria, read the terms, and pay attention to interest rate, total amount payable and repayment dates. Avoid apps that cannot clearly state who owns them or how they are regulated.

Cooperative societies and employer-backed loans

If you belong to a staff cooperative or a trusted thrift/contribution group, this can be a safer way to access short-term funds. Employer-backed loans or cooperative loans often come with lower interest and flexible repayment from salary over several months. This is usually a better option than emergency loan apps with very high charges.

Buy Now, Pay Later (BNPL) for specific purchases

Some fintechs and retailers offer structured instalment plans for phones, electronics and other big-ticket items. Used wisely, BNPL can spread payments without a large one-time hit. Used carelessly, it becomes another debt trap. Only use it if the item is necessary and you are sure of your ability to meet every instalment on time.