NIBSS Client Onboarding Requirements

BUSINESS REQUIREMENTS

1. Documentation submission (to be done by client)
   1. Certified True Copy of Memorandum and Articles of Association
   2. Certified True Copy of Statement of Authorized share capital – Form C02
   3. Certified True Copy of Certificate of Incorporation.
   4. Certified True Copy of Particulars of Directors – Form C07
   5. Corporate profile of client and evidence of existing transactions volumes (if any)
   6. Letter of Intent stating your purpose for the connection (Potential clients and expected volume should be stated)
   7. A letter of Introduction from your settlement bank
   8. Tax Clearance (min. 3 years)
   9. OFISD report/CBN Examination containing composite risk or camel rating (as applicable)
2. Documentation review and verification (to be done by NIBSS)
   1. Vetting and relationship establishment
   2. Service Level Agreements (as applicable)
   3. Terms and Conditions (as applicable)
   4. Approval