Use this guide to help you gather the correct documents and information to complete your Luno Business account application for a Nigerian entity.
When you're ready, use a web browser to upload your documents here. (This is not available on the mobile app).
Private Company requirements
1. Nature of business
What we need: A description of what your business does and how it generates revenue.
2. Certificate of Incorporation
What we need: Certificate of Incorporation and the Memorandum and Articles of Association.
3. Beneficial Ownership Register
What we need: An extract of the Beneficial Ownership Register confirming the most up-to-date ownership information.
4. Tax Identification Number
What we need: Proof of Tax Identification Number (if not evidenced on the Certificate of Incorporation issued by CAC).
5. Operating address
What we need: A recent utility bill or receipt (not more than 3 months old) containing the name and operating address of the business.
6. Resolution
What we need: A resolution signed by the directors that confirms which individuals have authority to act on behalf of the business and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Download and fill in this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all directors;
- State it is a directors' resolution;
- Contain the business's full name and registration number;
- Contain the full name, ID number or date of birth, and contact details (phone number and email address) of all the Authorised Officials;
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provision quoted below
"The Luno business account, including any Luno products or services related to the account, will not be operated by any person that is resident (whether permanently or temporarily) in the United States or its territories, nor shall the account be managed, directed, or controlled by any U.S Person, such as a corporation or partnership organised or incorporated under the laws of the United States nor any trust, of which any trustee is resident (whether permanently or temporarily) in the United States or its territories."
7. Shareholder details
What we need: A list confirming the following details of all shareholders of the business: i) full names and surname, ii) date of birth or identification number, and iii) contact details (email address and phone number).
8. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document of every Authorised Official and Shareholder (natural person) with 5% or more effective ownership or control of the business.
Accepted documents: Find our accepted identity documents here.
9. Proof of address
What we need: A proof of address for every Authorised Official and Shareholder with 5% or more effective ownership or control of the business. The proof of address must be in their own name and not more than three months old.
Accepted documents: Read more about acceptable proof of residence documents here.
Partnership requirements
1. Nature of business
What we need: A description of what the Partnership does and how it generates revenue.
2. Certificate of Registration
What we need: Certificate of Registration issued by CAC.
3. Tax Identification Number
What we need: Proof of Tax Identification Number (if not evidenced on the Certificate of Registration issued by CAC).
4. Resolution
What we need: A formal resolution that confirms which individuals have authority to act on behalf of the Partnership and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Download and fill in this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all partners;
- State it is a partners' mandate or confirmation of authority;
- Contain the Partnership's full name and registration number;
- Contain the full name, ID number or date of birth, and contact details (phone number and email address) of all the Authorised Officials;
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provision quoted below
"The Luno business account, including any Luno products or services related to the account, will not be operated by any person that is resident (whether permanently or temporarily) in the United States or its territories, nor shall the account be managed, directed, or controlled by any U.S Person, such as a corporation or partnership organised or incorporated under the laws of the United States nor any trust, of which any trustee is resident (whether permanently or temporarily) in the United States or its territories."
5. Partner details
What we need: A signed list confirming all Partners to the Partnership. For each person, the list must include: i) full name, ii) ID number or date of birth, and iii) contact details (phone number and email address). The list must be signed and dated by a minimum of two Partners.
6. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document of every Partner and Authorised Official.
Accepted documents: Find our accepted identity documents here.
7. Proof of address
What we need: A proof of address for every Partner and Authorised Official. The proof of address must be in their own name and not more than three months old.
Accepted documents: Read more about acceptable proof of residence documents here.
8. Operating address
What we need: A recent utility bill or receipt (not more than 3 months old) containing the name and operating address of the Partnership.
Sole Proprietorship requirements
1. Nature of business
What we need: A description of what your business does and how it generates revenue.
2. Certificate of Registration
What we need: Certificate of Registration issued by CAC.
3. Tax Identification Number
What we need: Proof of Tax Identification Number (if not evidenced on the Certificate of Registration issued by CAC).
4. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document for the Sole Proprietor and each Authorised Person.
Accepted documents: Find our accepted identity documents here.
5. Proof of address
What we need: A proof of address for the Sole Proprietor and each Authorised Person. The proof of address must be in their own name and not more than three months old.
Accepted documents: Read more about acceptable proof of residence documents here.
6. Operating address
What we need: A recent utility bill or receipt (not more than 3 months old) containing the name and operating address of the business.
7. Sole Proprietor and Authorised Person details
What we need: A signed and dated list containing the following for the Sole Proprietor and each Authorised Person: i) full name, ii) identity number or date of birth, and iii) contact details (phone number and email address).
Trust / Legal Agreement requirements
1. Nature of business
What we need: A description of what the Trust does and how it generates revenue.
2. Trust Deed
What we need: A certified true copy of the Trust Deed signed/executed before a solicitor or court confirming that the trust has been registered.
3. Contact details
What we need: Confirmation of contact details (email address and phone number) for the Settlor, Trustees, Protector (if applicable), Named Beneficiaries, and Authorised Officials of the Trust.
4. Resolution
What we need: A resolution signed by the Trustees that confirms which individuals have authority to act on behalf of the Trust and operate the Luno account. These individuals are known as the Authorised Officials.
Template: Download and fill in this Resolution template to help ensure you meet all requirements below. See a completed example here.
Detailed requirements:
The resolution must:
- Be signed and dated by all trustees (sole trustees need only provide written confirmation that they are the only person authorised to act on behalf of the Trust);
- State it is a trustees' resolution;
- Contain the Trust's full name and registration number;
- Contain the full name, and ID number or date of birth of all the Authorised Officials;
- Clearly state the specific authority delegated to the Authorised Officials; and
- Contain the provision quoted below
"The Luno business account, including any Luno products or services related to the account, will not be operated by any person that is resident (whether permanently or temporarily) in the United States or its territories, nor shall the account be managed, directed, or controlled by any U.S Person, such as a corporation or partnership organised or incorporated under the laws of the United States nor any trust, of which any trustee is resident (whether permanently or temporarily) in the United States or its territories."
5. Proof of identity
What we need: A clear, colour copy of the official government-issued identity document for the Settlor, Trustees, Protector, Named Beneficiaries, and Authorised Officials.
Accepted documents: Find our accepted identity documents here.
6. Proof of address
What we need: A proof of address for the Settlor, Trustees, Protector, Named Beneficiaries, and Authorised Officials. The proof of address must be in their own name and not more than three months old.
Accepted documents: Read more about acceptable proof of residence documents here.