We are happy to have represented Werner Monie Ltd, a newly incorporated money lender company, in successfully securing a money lender’s certificate and licence from the Edo State Government to undertake money lending business in Edo State.
Unlike Lagos State, where the procedure for a money lender’s license is quite stringent, the procedure in Edo State is relatively seamless for Applicants. There is no mandatory share capital requirement for a money lenders’ company in Edo State. See below for more information on the procedure for getting a money lender licence in Lagos State:
Unlike Lagos and Abuja, where the regulatory authorities prescribe minimum share capital of N20 Million for money lenders company, there is no such requirement in Edo State.
Also, the timeline for completion of the process in Edo State is relatively short.
You can read more from our previous post on How to Get Money Lender Licence in Edo State below:
