Know Your Customer Rules (KYC)
1. Regulatory Context & Compliance
To prevent fraud, protect consumer funds, and maintain a secure digital vending ecosystem, TopupNaija (operated by parent company Semper Technologies Ltd) strictly implements the Know Your Customer (KYC) and Anti-Money Laundering (AML) directives issued by the Central Bank of Nigeria (CBN).
As a CBN licensed entity parent, we are legally required to verify the identity of our clients before enabling high-volume transactions, allocating virtual bank wallets, or processing large utility escrow settlements.
2. Tiered Transaction Limits
We deploy a tiered KYC framework that allows users to access flexible limits based on their level of verified credentials:
| Account Tier | Daily Limit | Requirements |
|---|---|---|
| Tier 1 (Basic) | ₦50,000 / day | Full Name & Phone Number Verification |
| Tier 2 (Standard) | ₦200,000 / day | Tier 1 + Bank Verification Number (BVN) |
| Tier 3 (Premium) | ₦1,000,000 / day | Tier 2 + Government Issued ID (NIN, Passport) |
3. Verification Requirements
To upgrade your wallet limits and unlock unlimited vending, please keep the following requirements in mind:
- Bank Verification Number (BVN): Used solely to confirm your name, date of birth, and phone records matching your bank profile. TopupNaija never gains access to your bank balances or credentials.
- National Identification Number (NIN): Required to verify citizenship/legal residence records under government directives.
- Wholesale Merchants: Large SME vending agents processing over ₦1M daily must provide corporate CAC registration documents.
All uploaded personal records are fully sandboxed, encrypted, and governed in strict accordance with the Nigeria Data Protection Regulation (NDPR) guidelines.
