First Stage
REQUIREMENTS/ATTACHMENTS
Approval (Name)
✓ 100,000 Draft in the name of CBN
✓ Directors of the BDC (proposed)
✓ Valid Means of Identification of all Directors
✓ Curriculum Vitea of all directors
✓ Allotments of shares
✓ RTGS (Real Time Gross Settlement) of 35Million Naira in to Designated CBN
Account (100000640) Job can be completed without RTGS
✓ Account Numbers and Bank Verification Numbers (BVN) of all directors
✓ Residential Address of all directors “Should be well defined ie Number, Street, LGA
& State
✓ Proposed office address of the BDC
Note: All the process if satisfied Central Bank of Nigeria will grant your company what is called
Approval-In-Principle AIP.
Application for Final License
REQUIREMENTS/ATTACHMENTS
✓ Documents of Incorporation with Corporate Affairs Commission (CAC)
✓ Provision of three (3) Management Staff List
➢ MD
➢ Manager Admin & Finance
➢ Manager Operations/Compliance Officer
✓ Their CV’s and Valid Means of Identifications
✓ Purchase of Office Materials
✓ Inspection by the Regulatory body, which the Central Bank of Nigeria.
✓ At the point of Inspection an introductory letter will be tendered to you by the CBN
personnel
Application for Final License
REQUIREMENTS/ATTACHMENTS
✓Copy of Final Approval/License
✓ Copy RTGS Real Time Gross Settlement
Application for BDC Code
REQUIREMENTS/ATTACHMENTS
✓ C07 Particulars of Directors
✓ Certificate of Incorporation
✓ Means of Identification of at least two Directors
✓ E-fass Form
✓ Company e-mail address
✓ Means of ID of Authorized person
Application for BDC Code
Re-Activation of BDC Code
✓ Code Letter
✓ Final Approval/License