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2025-05-01T09:39:18Z

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==Procedure==
'''Apply In-Person:''' 
#To apply for Money Remittance License in person, the applicant has to visit the office of the Director of the Trade & Exchange Department in the Central Bank of Nigeria.
#The contact link of the Central Bank of Nigeria can be found below [https://www.cbn.gov.ng/Contacts/ contact link]
#Visit the office with an application letter to obtain a Money Remittance License.
#Make sure that you have all the documents listed in the “Required Documents” section of this page.
#Attach the required documents with the letter of application and submit it to the relevant authority at the office.
#After successful submission, the applicant must pay the required charges for obtaining the Permit.
#On receipt of the stipulated payment, the agency will start the assessment of the application and verification of the attached documents.
#If the submitted information is found sufficient, the officials will proceed to issue the license.
#Once all the necessary processes are over and License is ready to be issued, the applicant will be informed through phone or email to collect it.
 
==Required Documents==
*Application letter
*Board of Director’s approval
*Certificate of Incorporation (copy)
*Memorandum & Articles of Association (certified copy)
*Shareholding structure of the Company
*Forms C02 (Return on Allotment of shares) and C07 (Particulars of Directors)
*Profiles of the Board and Management of the Company
*Organogram of the company
*Business Plan
*Information Technology Policy
*Refer the section 2.3 in the following document for more clarifications [https://www.cbn.gov.ng/Out/2014/BPSD/Guidelines%20on%20International%20Money%20Transfer%20Services%20in%20Nigeria%20Approved%20d.pdf Requirements]
 
 
==Office Locations & Contacts==
'''Central Bank of Nigeria - Head Office''', 
Plot 33, Abubakar Tafawa Balewa Way 
Central Business District, 
Cadastral Zone, 
Abuja, Federal Capital Territory,
Nigeria 
P.M.B. 0187, Garki Abuja. 
Nigeria 
Phone: +234 700 225 5226 
Toll free line: +234 800 225 5226 
Email: contactcbn@cbn.gov.ng 
Website: [https://www.cbn.gov.ng/Contacts/ Link] 
 
==Eligibility==
*Any person or institution in Nigeria, that intends to carry on the business of International money transfer services, can apply.
*Refer the following document for more clarification of [https://www.cbn.gov.ng/Out/2014/BPSD/Guidelines%20on%20International%20Money%20Transfer%20Services%20in%20Nigeria%20Approved%20d.pdf requirements]
 
 
==Fees==
The applicant has to pay a non-refundable application fee of N500,000 initially with the documentation submission and CBN will inform regarding the license fees. 

 
==Validity==
Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever
 
 
==Documents to Use==
Please attach documents that can be used by people. e.g. links
 
 
==Sample Documents==
Please attach sample completed documents that would help other people.
 
 
==Processing Time==
Please explain processing time taken in obtaining the document/certificate.
 
 
==Related Videos==
Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&>
from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.
 
 
==Instructions==
*Applicants are advised to complete the application form neatly and completely with absolute legibility and appropriateness to avoid rejections.
*Also, all the required documents must be furnished completely to help with the application process thereby reducing the time spent on processing as much as possible.
 
 
==Required Information==
*Business name
*Registration number
*Incorporation particulars
*Full Address of the premises
*Share capital
*Identity document numbers of the directors
*Identity document numbers of the shareholders
*Phone number
*Email address
*Banking details
 
 
==Need for the Document==
It is mandatory for an individual or institution to obtain a Money remittance license from the Central Bank of Nigeria to carry on the business of International money transfer services. 

 
==Information which might help==
Refer for more information [https://www.cbn.gov.ng/Out/2014/BPSD/Guidelines%20on%20International%20Money%20Transfer%20Services%20in%20Nigeria%20Approved%20d.pdf guidelines] 

 
==Other uses of the Document/Certificate==
Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.
 
 
==External Links==
Place some external links which might help.
 
 
==Others==
More information which might help people.
 
[[Category:Nigeria]]

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