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Finance & capitalFinanceNigeria

Obtain a super-agent (agent banking) licence (CBN)

License a super-agent network — the entity that recruits and manages agent-banking outlets (POS agents): 12 months' trading history → ₦50m shareholders' funds escrowed with the CBN → apply → Approval-in-Principle → final licence with ≥50 agents.

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

Go to the exact next page

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

Form or guideOpen the official documentCentral Bank of Nigeria (CBN) · cbn.gov.ng
Routing map

Who you will deal with

Central Bank of Nigeria (CBN)CBN
Procedure

The steps, in order

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

  1. 01

    Confirm eligibility

    Agency
    Central Bank of Nigeria (CBN)
    What is required
    The applicant must be a company registered with the CAC with an existing business that has been operational for at least 12 months, and must hold shareholders' funds unimpaired by losses of ₦50,000,000.
    Documents
    CAC registration; 12 months' trading history; ₦50m shareholders' funds
    Typical timeline
    Precondition
    Use for this step
  2. 02

    Escrow the capital and apply

    Agency
    CBN
    What is required
    Deposit ₦50,000,000 in one lump sum into the CBN PSP Share Capital Deposit Account in the applicant's name (refundable; invested in treasury bills). Apply with a board approval, CIC, MEMART, company profile, shareholding structure and share allotment, and a reference letter from a financial institution.
    Documents
    ₦50m escrow; board approval; CIC; MEMART; shareholding; FI reference
    Typical timeline
    Application
    Use for this step
  3. 03

    Approval-in-Principle

    Agency
    CBN
    What is required
    CBN reviews the agent-network rollout plan, technology, AML/CFT and consumer-protection framework, and the fit-and-proper status of directors, then issues an Approval-in-Principle.
    Documents
    AIP; agent network plan; AML/CFT policy
    Typical timeline
    Months
    Use for this step
  4. 04

    Final licence and agent rollout

    Agency
    CBN
    What is required
    Demonstrate readiness with a minimum of 50 agents, then receive the final super-agent licence. The super-agent recruits, trains and monitors agents (POS/agent-banking outlets) on behalf of principals and remains liable for their conduct.
    Documents
    Minimum 50 agents; final licence
    Typical timeline
    On verification
    Use for this step
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