You can open a Kuda Business account for your business if you meet our eligibility criteria and agree to our Terms & Conditions.
Here’s a clear guide to the types of businesses we currently support; and those we don’t; so you know what to expect before applying.
Note: Meeting these requirements doesn’t guarantee account approval. Every application is reviewed individually.
Business types we currently support
You can apply for a Kuda Business account if you are:
A sole proprietor (business name) or
A registered limited liability company (Ltd)
An Incorporated Trustee registered with CAC
And you must:
Be registered in Nigeria with the Corporate Affairs Commission (CAC)
Be at least 18 years old
Have a business that actively provides goods and/or services
For registered companies
To be eligible, your company must:
Have an active status with CAC (not dormant or inactive)
Have at least one active director
Primarily earn from selling goods or services (not investment or interest income)
Be tax-compliant in Nigeria
We’ll also verify key individuals in your business (like directors or persons with significant control) during onboarding.
Business types we don’t currently support
At the moment, we’re unable to offer accounts to:
Partnerships and Limited Liability Partnerships (LLPs)
Companies limited by guarantee
Some NGOs and non-profit structures (except approved categories)
Public Limited Companies (PLCs)
Trusts, funds, and unregistered associations
Other specialised entities (e.g. unlimited companies)
We may support more business types in the future as we expand.
Other reasons you may not be eligible
We won’t be able to open an account for your business if:
Your business is not registered in Nigeria
Your business operates primarily outside Nigeria
You’re applying with incorrect or unverifiable information
You intend to use your account as a client trust account (holding money on behalf of others, like escrow or legal trust funds)
Industries we don’t currently support
Some industries require additional regulatory controls, so we’re not supporting them right now.
These include:
Cryptocurrency, forex trading, and money service businesses
Gambling, betting, and gaming services
Loan, lending, or investment businesses
Weapons, defence, or military-related businesses
Illegal or unlicensed drugs and substances
Scrap metal and unregulated waste management
Precious metals and stones trading
Dating or escort services
Shell companies or high-risk business structures
We may expand support to some of these industries in the future.