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Finance & capitalFinanceNigeria

Obtain a microfinance bank licence (CBN)

License a microfinance bank with the Central Bank of Nigeria: pre-licensing presentation → Approval-in-Principle (deposit capital) → incorporate & meet conditions → CBN inspection & final licence.

Procedure
4steps
Coordination
2agencies
Category
Finance & capitalFinance
Task links

Go to the exact next page

Application, requirements, forms, fees, and tracking are labelled separately.

Apply onlineOpen the Central Bank of Nigeria (CBN) application serviceCentral Bank of Nigeria (CBN) · larp.cbn.gov.ngForm or guideOpen the official documentCentral Bank of Nigeria (CBN) · cbn.gov.ng
Routing map

Who you will deal with

Central Bank of Nigeria (CBN)Central Bank of Nigeria (CBN) / CAC
Procedure

The steps, in order

Each route below is scoped to the step it can actually complete.

  1. 01

    Pre-licensing presentation

    Agency
    Central Bank of Nigeria (CBN)
    What is required
    Promoters present the business case to the CBN. Categories & minimum share capital: Unit Tier-2 ₦50m; Unit Tier-1 ₦200m; State ₦1bn; National ₦5bn.
    Documents
    Business case; promoter details
    Typical timeline
    Pre-licensing
    Use for this step
  2. 02

    Apply for Approval-in-Principle (AIP)

    Agency
    Central Bank of Nigeria (CBN) / CAC
    What is required
    Reserve the bank's name at CAC and apply formally to the CBN Governor for AIP; deposit the minimum share capital with the CBN (refundable).
    Documents
    Name reservation; AIP application; capital deposit; management CVs
    Typical timeline
    AIP phase
    Use for this step
  3. 03

    Incorporate and meet AIP conditions

    Agency
    Central Bank of Nigeria (CBN) / CAC
    What is required
    On AIP, incorporate the bank and satisfy conditions — fit-and-proper board/management and verifiable sources of capital.
    Documents
    Incorporation; approved persons; capital verification
    Typical timeline
    Post-AIP
    Use for this step
  4. 04

    CBN inspection and final licence

    Agency
    Central Bank of Nigeria (CBN)
    What is required
    The CBN inspects the premises and facilities and grants the final operating licence.
    Documents
    Ready facility; completed conditions
    Typical timeline
    ~3-12 months total
    Use for this step
Finance & capital
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