Regulation · 2 min read
KYC tiers and limits in Nigeria, explained
How BVN, NIN and address checks map to tier limits, and how to design onboarding around them.
Nigeria's tiered KYC lets institutions open accounts quickly with light checks and raise limits as customers verify more. Getting the tiers right is the difference between fast onboarding and a backlog of restricted accounts.
The three tiers
- Tier 1: basic details and phone verification, with low balance and transaction limits
- Tier 2: BVN or NIN verification, with higher limits
- Tier 3: full KYC including address verification, with standard limits
Check the current rules Exact limits are set by the CBN and change from time to time. Configure them as data, not code.
Design onboarding around upgrades
Let customers start at the lowest tier and prompt them to upgrade at the moment a limit gets in their way — with a clear explanation of what they need to provide.
How BankQore handles it
Tiers and their limits are configuration in the Product Factory. When a verification succeeds, the customer's tier and limits change automatically and the change is audited.
