License application
₦100,000
Approval fee (existing lenders)
₦1,000,000
Additional app (per app)
₦500,000
Annual levy
₦500,000
App ownership limit
5 apps max
Renewal cycle
Every 36 months
Individual violations
Up to ₦50M
Company violations
₦100M or 1% turnover
Director sanctions
Up to 5 years
Additional penalties
Suspension, delisting
Customer daily limit
₦100,000
Customer weekly limit
₦500,000
Agent daily limit
₦1,200,000
POS location radius
10 meters
Exclusivity rule
1 principal only
Individual weekly limit
₦500,000
Corporate weekly limit
₦5,000,000
ATM daily limit
₦100,000
Excess fee (individuals)
3%
Excess fee (corporates)
5%
IMTO minimum capital
$1,000,000
PAPSS simplified limit (individual)
$2,000
PAPSS simplified limit (corporate)
$5,000
Banks/fintechs IMTO role
Agents only
Victim reporting window
72 hours
Investigation deadline
16 working days
Document production
48 hours
Biannual reporting
Mandatory