We were having over 50 Nigerian KYB companies that partner with Sidra, and were authorized to carry out Sidra account kyc locally, but many violated the rules and regulations of Sidra. So, their application and appointment were reversed.

Currently, for the Nigerian Sidra community we only have 22 authorized companies which is still not enough because major tech & crypto driven cities like Benin City, Lagos and some Eastern states has not been covered. We’ve more of the Northerns, this is the reason many revert to online verifications but it later back fried. Imagine living in Benin or Lagos and then travelling to Kaon, Niger, Kaduna or Kastina just to do Sidra kyc. You will spend X account of transport plus you will have to pay the company verifying you because they also have spent alot to be at the level to kyc anyone. Now, you get the gist right…

Before you can apply as a SIDRA partner in order to start running kyc for people within or outside your state…

1. You need to have a fully registered company with CAC and FG backings.
2. A registered company TIN and company account people will pay into for your services
3. You need to have all relevant documents which includes company certificate, business license, AOA, UOA, MOA, verified resident address via electric bill or any official bill.
4. You need to have a company website too.
5. Most importantly, before you apply to be a Sidra partner, your personal Sidra account has to be fully kyced & verified and have a verified badge. And make sure not to have any issues with Sidra on your account (e.g, duplicate account, involvement in any illegalities etc.)

Now, to achieve everything above you will need minimum of 250k or more. Tell me while a company should now do your kyc for free !

Majority of the Nigerian companies Sidra banned, disqualified and suspended… 90% of Sidra pioneers were the ones that reported them and many of these people, their accounts were kyced online. Although, we have some companies that do fishy stuffs too. There is a particular newly approved Nigerian company doing Sidra kyc now, but part of their agreement is that you will have to give them your login information before they proceed with kyc and to add, their fee is very low. Now, the question is why will they even request for a user personal login details… This is wrong and against the rules, if more than 30 people report that company now, Sidra will audit them and ban them permanently. And at the end, they will blame Sidra for being unfair and reasonable whereas they are actually at fault. This is what many companies are doing right now.

The way forward is to do your kyc physically in your state of residence no matter the cost… And if there is no verified company in your state yet, go to the nearest state close to you and verify your account. It is important you do it this in order to stay safe, and do it with a reputable company not one that do cho cho cho.

In my next post I’ll educate us about the importance of having your Sidra account verified.

Thank you.

© Joshua Aluaye Ohiole.

#jaotechgworld
#GoRighteous
#OfficialJTDI