The following documents are required for verification. Kindly review and also complete the Business KYB form accordingly
| a. Sole Proprietorship/Partnerships | |
| | Documents Required |
| 1 | Certificate of business registration. |
| 2 | Tax Identification Number |
| 3 | Status Report (This document states the summary of the nature of business of the sole |
| proprietorship or partnership) or Business Profile | |
| 4 | Identification of beneficial owners/controller |
| | |
| a. International passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 5 | BVN of the beneficial owner |
| 6 | Proof of address, i.e., utility bill or notarized tenancy agreement/receipt. |
| 7 | Bank statement for 6 months or letter of introduction from a FI. |
| 8 | Sanction Screening/PEP Check & Assessment & Sign off where applicable. |
| 9 | Board resolution to open the account/business relationship, and IDs of those who have authority to operate the account. |
| b. Incorporated Company | |
| | Documents Required |
| 1 | Certificate of Incorporation of the Company. |
| a. Memorandum and Articles of Association of the Company | |
| b. Form CAC 7/ Status report (Particulars of Directors) | |
| c. Form CAC 2/ MEMART (Statement of Share Capital and Return of Allotment) | |
| | d. Form CAC 2.1 (Notification of Registered Address or any Changes |
| Therein) | |
| 2 | Valid means of Identity of all Directors and U.B.O: |
| a. International passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 3 | BVN of all Directors and U.B.O |
| 4 | Proof of address, i.e., utility bill or notarized tenancy agreement/receipt. |
| 5 | Source of Funds - Either of the following: |
| a. Bank statements for a period of 6 months | |
| b. Letter of Introduction from a financial institution. | |
| 6 | Operating License (if applicable, i.e., Betting Companies) Mobile Money Operator |
| (MMO) Licence, IMTO, FINTRAC | |
| 7 | AML/CFT responsibilities of the respondent institution (if applicable e.g., Remittance |
| companies) | |
| 8 | Board resolution to open the account/business relationship, and IDs of those who have authority to operate the account. |
| 9 | Tax Identification Number |
| 10 | Business License (If applicable, i.e Remittance company) |
| 11 | Sanction Screening/PEP Check & Assessment & Sign off where applicable. |
| c. Incorporated Trustees | |
| | Documents Required |
| 1 | a. Form CAC IT/1: This is the Incorporated Trustees Application Form. |
| 2 | Valid means of Identity of the Board of Trustees: |
| a. International passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 3 | BVN of all the Board of Trustees. |
| 4 | Proof of address i.e., utility bill or notarized tenancy agreement/receipt. |
| 6 | Confirmation of authority to act in the name of the organization via board resolution if applicable i.e., Registered Charity Organization) |
| 7 | Special Control Unit on Money Laundering Certificate (SCUML). |
| 9 | Sanction Screening/PEP Check & Assessment & Sign off where applicable. |
| BUSINESS SECTOR REQUIREMENTS | |
| a. Financial Institutions; IMTOs/Money Lending/MMOs | |
| | Documents Required |
| 1 | Certificate of Incorporation of the Company. |
| o Memorandum and Articles of Association of the Company | |
| o Form CAC 7/ Status report (Particulars of Directors) | |
| o Form CAC 2/ MEMART (Statement of Share Capital and Return of Allotment) | |
| | - Form CAC 2.1 (Notification of Registered Address or any Changes Therein) |
| 2 | Valid means of Identity of all Directors and U.B.O |
| a. international passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 3 | BVN of all Directors/shareholders and U.B.O |
| 4 | Proof of address i.e., utility bill or notarized tenancy agreement/receipt. |
| 5 | Source of Funds - Either of the following: |
| a. Bank statements for a period of 6 months. | |
| b. Letter of Introduction from a financial institution. | |
| 6 | Operating License |
| 7 | AML/CFT responsibilities of the respondent institution |
| 8 | Board resolution to open the account/business relationship, and IDs of those who have |
| authority to operate the account. | |
| 9 | Proof of Tax registration TIN |
| b. Designated non-financial businesses and professions (DNFBPs); Bureau de Change, Professional Intermediaries: (Stockbrokers, fund managers, solicitors, accountants, estate agents), e.g., casinos, real estate, dealers in precious stones and metals, company service providers, etc. | |
| | Documents Required |
| 1 | Certificate of Incorporation of the Company. |
| a. Memorandum and Articles of Association of the Company | |
| b. Form CAC 7/ Status report (Particulars of Directors) | |
| c. Form CAC 2/ MEMART (Statement of Share Capital and Return of Allotment) | |
| d. Form CAC 2.1 (Notification of Registered Address or any Changes | |
| Therein) | |
| 2 | Valid means of Identity of all Directors and U.B.O |
| a. international passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 3 | BVN of all Directors and U.B.O |
| 4 | Proof of address i.e., utility bill or notarized tenancy agreement/receipt. |
| 5 | Source of Funds - Either of the following: |
| a. Bank statements for a period of 6 months | |
| b. Letter of Introduction from a financial institution. | |
| 6 | Professional License if applicable i.e. (Professional Intermediaries) |
| 7 | Operating License if applicable |
| 10 | Special Control Unit on Money Laundering Certificate (SCUML). |
| 11 | Proof of Tax registration. |
| 12 | Sanction Screening/PEP Check & Assessment & Sign off where applicable. |
| 13 | Board resolution to open the account/business relationship, and IDs of those who have |
| authority to operate the account. | |
| c. Incorporated Trustees e.g. Religious Organizations, Registered Charity Organizations & Professional Associations | |
| | Documents Required |
| 1 | a. Form CAC IT/1: This is the Incorporated Trustees Application Form. |
| 2 | Valid means of Identity of the Board of Trustees: |
| a. International passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| 3 | BVN of all the Board of Trustees. |
| 4 | Proof of address i.e., utility bill or notarized tenancy agreement/receipt. |
| 6 | Confirmation of authority to act in the name of the organization via board resolution if applicable i.e., Registered Charity Organization) |
| 7 | Special Control Unit on Money Laundering Certificate (SCUML). if applicable i.e., Religious Organization) |
| 9 | Sanction Screening/PEP Check & Assessment & Sign-off where applicable. |
| d. Clubs and Societies | |
| | Documents Required |
| 1 | Constitution of the organization to state the purpose of the club/society and its members. |
| | |
| Cooperative Certificate: This is the Cooperative Society Certificate, issued by the state government | |
| Certified Application Form: This is the application form for the Registration of Cooperative Societies. | |
| 2 | Valid means of Identity of the 2 executive members or the principals: |
| a. International passport | |
| b. Voter’s card | |
| c. NIN | |
| d. Driver’s License | |
| e. Resident Permit, where applicable | |
| 3 | BVN of one of the executive members or the principals. |
| 4 | A signed and dated letter (with club/society letterhead) informing us of the names of the two executive members and their position that will be the contacts for operating |
| the account. | |
| 5 | Sanction Screening/PEP Check & Assessment & Sign-off where applicable. |