All Nigerian registered accounts on Lemonade Finance require the following relevant level of identification. You will be able to upgrade to the following from the Lemonade Finance app.


KYC level 1 (Default KYC Level)

Requirement

  • Your name as written on your government issued ID
  • Phone Number
  • Email
  • Address
  • DOB


Transaction Limits

  • Daily Transaction Limit - N50,000



KYC level 2

Requirement

  • KYC 1 requirements
  • BVN for Identity Verification (We are required by the Central Bank of Nigeria (CBN) to verify your identity with your BVN before we can create a virtual NUBAN account. This is the normal procedure required to open an account.)


Transaction Limits

DailyTransaction Limit - N200,000



KYC level 3

Requirement

  • KYC 1 & 2 requirements
  • Government Issued IDs like  international passports, national id cards, driver’s licenses. We are adding support for government-issued ids like voters and the Nigerian national identity card and NIN in the coming weeks. 
  • Photo ID verification 

Transaction Limits

  • Daily Transaction Limit - 5,000,000