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What do I need to open a bank account with Lenco?
What do I need to open a bank account with Lenco?
Lola avatar
Written by Lola
Updated over a week ago

For Nigerian business:

Business Name

These are businesses registered with the CAC as Business Names. They have a BN number and are typically sole proprietorship businesses.

Documents required:

  • CAC Certificate: This is the certificate showing that you have registered the Business Name with the CAC.

  • CAC registration supporting document

  • You will also need to provide the information of the owner of the business (BVN, DOB, ID, signature, phone number, Next of kin details and address)

  • Utility bill of not over 3 months

  • Tax Identification Number (TIN): This is a unique identification number issued to taxpayers by the FIRS.

  • SCUML: This is required depending on the business

  • Referee

Incorporated Company

This is a business incorporated with the CAC with an RC number. They include Private and Public limited liability companies and companies limited by guarantee.

Documents required:

  • Certificate of Incorporation: Certificate showing that the company is duly incorporated.

  • Memorandum and Articles of Association (MEMAT)

  • Form Co7: This contains the details of the directors.

  • Form Co2: This contains allotment of shares.

  • Tax Identification Number(TIN): This is a unique identification number issued to taxpayers by the FIRS.

  • You will also need to provide information of all the directors of your business (BVN, DOB, ID, signature, phone number, Next of kin details and address)

  • Utility bill of not over 3 months

  • SCUML: This is required depending on the business

  • Referee

Incorporated Trustees

These are businesses that are registered with the CAC as incorporated trustees. These businesses have an RC/BN number. Examples of businesses with this registration type include NGOs, religious organizations, professional associations, etc.
โ€‹Documents required:

  • Certificate of incorporation or Copy of certificate of registration of the body

  • Deed of appointment of the trustee or Status Report which contains the details of the appointed trustees

  • You will also need to provide information about the Signatories and trustees (BVN, DOB, ID, signature, phone number, Next of kin details and address)

  • Bye Law/ constitution of the organization

  • Tax Identification Number(TIN) where applicable

  • Utility bill of not over 3 months

  • Referee

  • SCUML: This is required depending on the organization

For Zambian business:

To open an account with Lenco by BroadPay, you will need to provide some Know Your Customer (KYC) requirements.

Companies

Documents required:

  • Certificate of incorporation

  • Form III / Articles of Association / Latest PARCRA printout (not older than 3 months)

  • Website URL/Apk

  • Directors' IDs

  • Corporate bank account details

  • Any additional necessary documents

Churches / Non-Governmental Organizations (NGOs)

Documents required:

  • Zambian Kwacha Account

  • Certificate from Registrar of Societies

  • Constitution

  • IDs of Chairpersons / Directors

Business Name

Documents required:

  • Certificate of registration

  • ID

  • Proof of residence

  • Website URL/APK

  • Bank account details

Individual

Documents required:

  • ID

  • Proof of residence

  • Website URL/APK

  • Bank account details

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