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What are the minimum financial requirements for a PFA or a PFC license?

April 26, 2017financial license minimum PFA pfc requirements

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What are the minimum financial requirements for a PFA or a PFC license?

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An applicant PFA must have a minimum paid up share capital of N150,000,000 while an applicant PFC must have a minimum paid up capital of N2,000,000,000 and shall be a licensed financial institution with a minimum net worth of N5,000,000,000 unimpaired by losses and has total assets of N125,000,000,000 or is wholly owned by a licensed financial institution with similar financial resources.