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Finance & capitalFinanceNigeria

Obtain a money lender's licence (state)

License a money-lending business under a State Money Lenders Law (e.g. Lagos): incorporate & meet capital → apply to the Chief Magistrate → apply to the State Ministry of Home Affairs → annual licence.

Procedure
4steps
Coordination
3agencies
Category
Finance & capitalFinance
Task links

Go to the exact next page

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

Apply onlineRegister the lending company with CACCorporate Affairs Commission · icrp.cac.gov.ng
Offline / state-specificFile first with the Chief Magistrate in the operating stateState judiciaryNigeria has no single national online money-lender application; the court form and filing office are state-specific.
Offline / state-specificSubmit the court certificate to the state licensing ministryState Ministry of Home Affairs or equivalentConfirm the ministry and current fee with the state before paying an intermediary.
Routing map

Who you will deal with

Corporate Affairs Commission (CAC)Magistrate Court of the districtState Ministry of Home Affairs
Procedure

The steps, in order

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

  1. 01

    Incorporate and meet capital

    Agency
    Corporate Affairs Commission (CAC)
    What is required
    Incorporate an LLC with money-lending in its objects. Minimum share capital ₦20m (₦100m where there is foreign participation).
    Documents
    Certificate of Incorporation; MEMART; ≥₦20m share capital
    Typical timeline
    See CAC procedure
    Use for this step
  2. 02

    Apply to the Chief Magistrate

    Agency
    Magistrate Court of the district
    What is required
    Apply in the prescribed form to the Chief Magistrate of the magisterial district; the Magistrate issues a Money Lenders Certificate (Form B) and a recommendation letter to the State Ministry of Home Affairs.
    Documents
    Prescribed application; company docs
    Typical timeline
    Court stage
    Use for this step
    Offline / state-specificFile first with the Chief Magistrate in the operating stateState judiciaryNigeria has no single national online money-lender application; the court form and filing office are state-specific.
  3. 03

    Apply to the State Ministry of Home Affairs

    Agency
    State Ministry of Home Affairs
    What is required
    Submit CIC, MEMART, 3-year Tax Clearance (company + 2 directors), bankers' reference and Form B, with fees (application form ₦25,000; licence fee ₦200,000).
    Documents
    TCC; bankers' reference; Form B; fees
    Typical timeline
    Application stage
    Use for this step
    Offline / state-specificSubmit the court certificate to the state licensing ministryState Ministry of Home Affairs or equivalentConfirm the ministry and current fee with the state before paying an intermediary.
  4. 04

    Licence issued

    Agency
    State Ministry of Home Affairs
    What is required
    The Ministry issues the Money Lender's Licence, valid for one year and renewable annually.
    Documents
    Completed application; fees
    Typical timeline
    1-year validity
    Use for this step
    Offline / state-specificSubmit the court certificate to the state licensing ministryState Ministry of Home Affairs or equivalentConfirm the ministry and current fee with the state before paying an intermediary.
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