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Nigeria · Onboarding

KYC documents for Nigerian merchants

A clear, no-surprises checklist of every document we and our licensed partners need to enable live payment processing and NGN payouts for your Nigerian business.

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Why these documents are required

Anti-money-laundering rules and licensed payment partner requirements apply to every Nigerian merchant that processes card or bank payments and settles to a Nigerian bank account. KYC and KYB are how partners confirm who is behind the business, where settlement is going, and that the business activity matches what is being processed.

PayKato collects these documents once and shares them with the licensed partners required to process your transactions. You don't fill out separate forms with each processor.

Document checklist by business structure

Match the document set to how you're registered. Sole-trader applications are reviewed case by case during the Nigeria pilot.

  • Sole trader / personal: NIN, government ID, BVN, selfie, address proof, personal Nigerian bank account
  • Business Name (CAC BN): CAC certificate, CAC status report, proprietor ID, BVN, business bank account, address proof
  • Limited Liability (CAC RC): CAC certificate, CAC status report, directors' IDs, ownership / shareholding info, business bank account, address proof
  • All: short business description, website / portfolio link, sample invoice or customer list if requested

What 'good' uploads look like

Clear photos or PDFs of the original documents — not screenshots, not photos of a screen. Documents in the same name as the business or signatory. A bank statement or utility bill dated within the last 3 months. A settlement bank account in the same legal name as the registered business.

Most pilot merchants who submit clean documents are reviewed in 2–4 business days. End-to-end (apply → live) is typically 5–10 business days.

Frequently asked

Do I need a CAC-registered business to onboard?
A CAC-registered business is recommended for full merchant access and typically unlocks higher limits and more partner options. Sole-trader applications are reviewed case by case during the Nigeria pilot.
Why do you need my BVN?
Nigerian payout and banking partners use BVN to confirm that the settlement bank account belongs to the verified individual or business. PayKato collects only what is required to complete verification.
What if my CAC status report is outdated?
We typically need a status report dated within the last 6–12 months. You can request an updated extract on the CAC portal and re-upload it on your PayKato application.
How long does verification take?
Most pilot merchants are reviewed in 2–4 business days after upload. End-to-end (apply → live) is typically 5–10 business days, depending on partner approval and business category.
Which processors and banks does PayKato use?
PayKato is built to integrate with licensed payment processors and banking partners. Specific processors and availability are confirmed during merchant onboarding based on country, merchant category, and partner approval.

Related

Start your Nigerian merchant onboarding

Create a PayKato account, upload your documents, and we'll review your application within a few business days.

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PayKato is built to integrate with licensed payment processors and banking partners. Specific processors and availability are confirmed during onboarding based on country, merchant category, and partner approval. PayKato is not a bank and does not hold customer funds.