To comply with local Nigerian regulations, Luno is required to collect and verify proof of residential address for customers when specific transaction or account balance thresholds are reached.
Why do I need to verify my address?
Address verification is not required when you first sign up for Luno. It is only triggered once your account activity meets or exceeds any of the following limits:
- A single deposit of ₦20,000 or more
- A cumulative wallet balance (crypto and cash) reaching ₦200,000
What to expect if your account is restricted
If your account reaches a threshold before you’ve verified your address, a temporary account lock will apply:
- Restricted: Sending crypto to external wallets and withdrawing cash.
- Still available: Depositing cash, receiving crypto, and buying, selling, or trading.
Once your document is verified, your account will automatically unlock and stay unlocked.
Requirements for your document
To avoid delays, your proof of residential address document must meet three basic requirements:
- Full name: Must clearly show your legal full name, matching your Luno profile.
- Physical address: Must display your complete physical residential address.
- Issue date: Must be issued within the last 3 months.
Accepted document types
- Utility bills: Water, electricity, or sewerage accounts
- Bank statements: Official bank or financial institution statements
- ISP & Phone bills: Postpaid internet or telephone account statements
- Municipal documents: Rates and taxes invoices
- Housing agreements: Formal lease or rental contracts
- Credit accounts: Retail or store account statements from registered providers
- Official declarations: Stamped address declarations or insurance policies
What if the bills aren't in your name?
If you live with family or a landlord and utility bills are in their name:
- Download our Standard Address Affidavit Template.
- Have the affidavit completed and co-signed by the primary resident.
- Submit the affidavit along with a copy of the primary resident's valid ID and their proof of address document (dated within 3 months).
How verification works
1.Upload your document:
Take a clear photo or upload a PDF of your accepted document directly in the app or website when prompted. We’ll also send an email with the upload link you can use to verify your proof of address.
2.Automated verification check:
Our system automatically reviews your document. If it meets all requirements, your account unlocks instantly.
3.Manual review (if needed):
If additional checks are needed, your document will be passed to our support team for manual review.