There are different requirements for opening a Flutterwave business account, depending on the kind of enterprise you operate.

Requirements for unregistered businesses

• Website URL or social media page

• Residential address with proof of address from the following:

• Utility bill such as electricity and water receipts

• Signed lease or tenancy agreement,

• Bank statements not older than 3 months.

• Personal bank account details that match the account owner's name

• Estimated monthly sales

• Business profile detailing the nature of business operations

• BVN (Bank Verification Number)

• Residence permit/authorization to live and work (only show if nationality is not same as home country)

• Valid means of ID (Clear and legible)

• International passport

• NIN Slip

• Driver's License

Important: The expiry dates for your identity document should not be 6 months later than the day you create a Flutterwave account.

Requirements for sole proprietorship

• CAC Certificate & Application for Registration for Business Name form (CAC/BN/1 or Form A)

• Proprietor's name, original colored ID, BVN-Colored, and Proof of address from the following:

• Utility bills like electricity and water receipts

• Signed Lease/tenancy agreement,

• Bank statements not older than 3 months old.

• Corporate bank account details

• Proof or operational business such as:

• Utility bills like electricity and water receipts

• Signed lease or tenancy agreement

• Bank statement 3 months old or older

• Verifiable website URL showing business activities

• Estimated Monthly sales

• BVN (Bank Verification Number)

• Operating License where business is regulated

• Residence permit/authorization to live and work (only show if nationality is not same as home country)

• Valid means of ID ( Clear and legible )

• International passport

• NIN slip

• Driver's license

Please Note: The expiry dates for your identity document should not be 6 months later than the day you create a Flutterwave account.

Requirements for a Limited Liability Company

• Certificate of Incorporation

• Memorandum & Article of Association

• Directors’ & shareholders' original colored IDs, BVN, and proof of address from the following:

• Utility bills like electricity and water receipts

• Signed lease or tenancy agreement,

• Bank statements not older than 3 months

• Shareholder structure & Valid ID - If the shareholder(s) is an entity, please provide the registration documents for the entity with the business owners' IDs

• Corporate bank account details and BVN

• Proof of Operational Business Address from the following:

• Utility bills like electricity and water receipts

• Signed lease or tenancy agreement, Bank statements 3 months old or older.

• Verifiable website URL showing business activities.

• Operating license (where business is regulated)

• Estimated monthly sales

• Residence permit/authorization to live and work (only show if nationality is not same as a home country)

• Valid means of ID ( Clear and legible )

• International passport

• NIN Slip

• Driver's License

Please Note: The expiry dates for your identity document should not be 6 months later than the day you create a Flutterwave account.

Requirements for Other Entities

To open an Other Entity account in Nigeria, you will need the following:

• Certificate of Incorporation

• Operating license/permit

• Constitution/Memorandum of Guidance

• Business owner/Trustee original colored IDs, BVN, and proof of address from the following:

• Utility bill such as electricity and water receipts

• Signed lease/tenancy agreement

• Bank statement not older than 3 months

•  Trustees' resolution confirming  approval given to open the Flutterwave  account 

• SCUML Certificate (see here for more details)

• Corporate bank account details and BVN

• Proof of operational business address from the following:

• utility bill [e.g., electricity bill, water bill]

• signed lease/tenancy agreement

• bank statement not older than 3 months 

• Verifiable website URL showing business activities

• Operating license (where business is regulated)

• Estimated monthly sales

• Residence permit/authorization to live and work (only if nationality is not the same as the home country)

• Valid means of ID (clear and legible), such as:

• International passport

• NIN slip

• Driver's license

Please note: the expiry dates for your identity document should not be more than 6 months from the submission date.

FAQs about onboarding in Nigeria

Can I upgrade my unregistered business account to a registered business account?

If you need help upgrading your account, please contact our support team at hi@flutterwavego.com. You can also find the business requirements for your business type here. Alternatively you can create a sub business account on your flutterwave dashboard.

Can foreign nationals open business accounts in Nigeria?

Yes, foreign nationals can open business accounts in Nigeria by providing identification documents, work/resident permits or authorizations, a valid identity document, and meeting other bank requirements.

What is a SCUML certificate and how do I get one for my business?

A SCUML certificate is a document issued to organizations that comply with the Money Laundering (Prohibition) Act. It is a measure to prevent money laundering and terrorism financing in Nigeria. The following are official SCUML resources:

• Visit the official SCUML website at https://www.scuml.org for more information.

• Register on the SCUML website here - SCUML registration To get a SCUML certificate.

• Check the requirements for obtaining a SCUML certificate on the SCUML requirements page here.

What should I do if I can't access the phone number or email linked to my BVN?

If unable to access the phone number associated with your BVN:

• If you have an email linked to your BVN, you can retrieve a One-Time Password (OTP) to complete the verification process.

If you cannot access the email address and phone number associated with your BVN:

• Try your bank's mobile app, online banking, or visit any designated BVN support center.

• Once your contact information is updated, you can continue the verification process at https://app.flutterwave.com/login.

My home address is the same as my business address

You can complete the registration process when your business and home address are the same. You are required to submit documentation that verifies your residential/business address. 

Acceptable documents include:

• A utility bill such as an electricity or water receipt not older than 3 months.

• A signed lease/tenancy agreement for your residence.

• A bank statement not older than 3 months.

What payout (transfer) method is available to Nigerian merchants?

In Nigeria, we provide payment support to bank accounts. To receive payments, you need to provide your bank account number and bank's name. Once your payment is processed, the funds are deposited directly into your bank account.

What Collection method is available to Nigerian customers?

There are multiple collection methods available to Nigerian businesses, including Card, POS, USSD, NQR, Bank Transfer, Pay with Bank, and Wallet e.g. (Apple Pay, Google Pay, eNaira, and Opay).