Finance & capitalFinanceNigeria
Obtain a payment service (fintech) licence (CBN)
License a payment company with the CBN: choose category (Switching, MMO, PSSP, PTSP, Super-Agent) → deposit capital & apply → Approval-in-Principle → final licence.
- Procedure
- 4steps
- Coordination
- 1agency
- Category
- Finance & capitalFinance
Task links
Go to the exact next page
Application, requirements, forms, fees, and tracking are labelled separately.
Routing map
Who you will deal with
Central Bank of Nigeria (CBN)
Procedure
The steps, in order
Each route below is scoped to the step it can actually complete.
01 Choose the PSP category
- Agency
- Central Bank of Nigeria (CBN)
- What is required
- Categories & capital: Switching & Processing ₦2bn; Mobile Money Operator (MMO) ₦2bn (only MMOs may hold customer funds); Payment Solution Service Provider (PSSP) ₦100m; Payment Terminal Service Provider (PTSP) ₦100m; Super-Agent.
- Documents
- Chosen category; business model
- Typical timeline
- Selection
02 Deposit capital and apply
- Agency
- Central Bank of Nigeria (CBN)
- What is required
- Deposit the category minimum with the CBN before the application (e.g. PSSP/PTSP ₦100m; Switching/MMO ₦2bn) and incorporate with matching objects.
- Documents
- Capital deposit; incorporation; application
- Typical timeline
- Application stage
03 Approval-in-Principle
- Agency
- Central Bank of Nigeria (CBN)
- What is required
- The CBN reviews the application and grants Approval-in-Principle.
- Documents
- Complete application; fit-and-proper management
- Typical timeline
- AIP phase
04 Final licence
- Agency
- Central Bank of Nigeria (CBN)
- What is required
- Satisfy conditions, integrations and inspection; the CBN grants the final PSP licence.
- Documents
- Met conditions; systems integration
- Typical timeline
- On approval