To comply with local regulations, we require specific documents. These documents are necessary for Know Your Customer (KYC) verification purposes and help ensure the legitimacy of your business.

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KYC Document Stages

  1. Pre-Approval
  2. Post-Approval
We must collect these documents for verification purposes as they are mandated by our local regulators.

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Business Category Types

Depending on the business category you select, we will request documents specific to that type. The four business categories are:
  1. Private or Public Limited Company (LTD/PLC),
  2. Business Name
  3. Registered Partnership
  4. Incorporated Trustees
To learn more about the document requirements for each business category, please visit the Business Requirements section.

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Acceptable Documents

Certificate of Incorporation This is a formal document issued by the Corporate Affairs Commission (CAC) that signifies the official registration of the company. CAC Status Report This includes various CAC forms, such as:
  1. CAC 2
  2. CAC 7
  3. CAC 1.1
  4. CAC BN1
  5. Form CAC/IT 1
These documents provide a status update or profile of a company, indicating that it is properly registered with the CAC. Board Resolution A document signed by a company’s board of directors that reflects decisions or actions taken by the board. Utility Bill or Bank Statement Utility Bill or Bank Statement within the last three months or Rental Agreement (valid for 12 months) These are documents used to verify the physical address of the business. BVN (Bank Verification Number) The Bank Verification Number (BVN) of the business owners is used for identity verification and security, along with a valid form of identification. NIN (National Identification Number) The National Identification Number (NIN) or a valid ID is used to verify the identity of the business’s directors. Partnership Resolution (For Partnerships) A written agreement or decision made by the partners of a business, typically regarding the operation or governance of the partnership. Valid ID A Valid ID (such as a national ID, passport, or driver’s license) for identity verification of the directors, partners, or trustees involved in the business. Board of Trustees Resolution (For Incorporated Trustees) A resolution document signed by the Board of Trustees, outlining official decisions or actions taken by the board regarding the management or governance of the organization.

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Pre-Approval Business Type Requirements

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Private or Public Limited Company (LTD/PLC)

  1. Certificate of Incorporation
  2. CAC Status Report or CAC 2 AND CAC 7 or CAC 1.1
  3. Board Resolution
  4. Utility Bill or bank statement within the last three months or rental agreement valid within 12 months
  5. BVN of ALL Directors (1 of each at onboarding)
  6. NIN ( Enter the values, not upload) or Valid ID of Director

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Business Name

  1. Certificate of Incorporation
  2. CAC Status Report or CAC BN1
  3. BVN and Valid ID of Business Owners
  4. Utility Bill or bank statement within the last three months or rental agreement valid within 12 months

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Registered Partnership

  1. Certificate of Incorporation
  2. CAC Status Report or Form CAC/LLP 01 or CAC/LP O1
  3. Partnership resolution
  4. Utility Bill or bank statement within the last three months or rental agreement valid within 12 months
  5. BVN of ALL Partners (1 of each at onboarding)
  6. NIN or Valid ID of Partners

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Incorporated Trustees

  1. Certificate of Incorporation
  2. CAC Status Report or Form CAC/ IT 1
  3. Board of Trustees resolution
  4. Utility Bill or bank statement within the last three months or rental agreement valid within 12 months
  5. BVN of ALL Partners (1 of each at onboarding)
  6. NIN or Valid ID of Partners

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Post Approval Business Type Requirements

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Private or Public Limited Company (LTD/PLC)

  1. Tax Identification Number (Show during onboarding but can be optional)
  2. SCMUL (**)
  3. BVN and NIN of all shareholders above 5% shareholding
  4. Social media handle of the business (**)

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Business Name

  1. Tax Identification Number (Show during onboarding but can be optional)
  2. SCMUL (**)
  3. Social media handle of the business

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Registered Partnership

  1. Business Operating license (if applicable)
  2. Tax Identification Number (Show during onboarding but can be optional)
  3. SCMUL (**)
  4. Registered Partnership Agreement/Deed (certified as true copy by the Registrar of Companies)
  5. Social media handle of the business (**)

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Incorporated Trustees

  1. Business Operating license
  2. Tax Identification Number (Show during onboarding but can be optional)
  3. SCMUL (**)
  4. Social media handle of the business (**)
It’s important to note that some documents can be substituted, and they are indicated on the sheet with ’ or’. For instance, the merchant can provide either a Utility Bill or bank statement within the last three months or a rental agreement valid within 12 months