For a business banking customer (business owner), you are required to provide your business registration details and other information needed to be able to properly enjoy the full benefits of a business account, such as:

• Account name to bear Legal Business name different from your BVN name
• Increased Account Limit
• Access to an increased transaction limit

These privileges are made available to the business owner and their accounts when they submit all the required details to upgrade to a Registered Business KYC (KYB) Level. To complete the Registered Business Upgrade, the information can be submitted by the BO themselves or through their Business Relationship Managers (BRM).

NB: Only business owners who have completed all the requirements for KYC Level 1-3 will be eligible for the Registered Business Upgrade

STEPS TO REGISTERED BUSINESS UPGRADE

• Navigate to the KYC status page
• Click on the button to proceed to the Registered Business Upgrade

• On the Business Information page

1. Select the right Business Registration Type for the Business
2. Enter the Business registration number
3. Click on the Continue/Validate button
4. If the Business registration number is successfully validated and the customer is found to be a registered Affiliate of the business, you can to proceed to the Supporting documents page

• On the supporting documents page, 

1. Submit all the required documents depending on the Business registration type (Certificate of Registration, Status Report document, MEMAT, etc)
2. Ensure the right documents are submitted to the right field
3. Click on the submit button to proceed to the Additional Information page

• On the Additional Information Page,

1. Submit TIN
2. Submit SCUML (Depends on Business category/subcategory)
3. Submit Operating Licence

• On the Account Name Review Page,

1. Review the account name of the accounts - You are allowed to add a custom suffix to the Legal business name, or maintain their Legal Business name

• On the Attestation page,

1. Review all the information they had submitted along the registered business upgrade flow
2. Click the update button for any information they want to modify
3. When all the data is confirmed to be as desired, check the confirmation check box and click on the “Submit” button