AML & KYC Policy

Effective as of: July 2026 · Last Updated: 10 July 2026

Microvest is committed to preventing money laundering, terrorist financing, fraud, and other financial crime. This Anti-Money Laundering (AML) and Know-Your-Customer (KYC) policy summarises the measures we take, in line with applicable Nigerian laws and regulations, to verify who our users are and to keep our platform safe. It should be read together with our Terms of Use and Privacy Policy.

Who can use Microvest

To open and operate a Microvest account, you must be at least 18 years of age, be a Nigerian citizen or legal resident, and hold a bank account with a Nigerian financial institution, as set out in our Terms of Use and Age Suitability page. Microvest is available for use in Nigeria only.

Identity verification (KYC)

Before you can fully use our Services, we verify your identity. Our verification process includes the following steps:

  • Registration details. At sign-up we collect your first name, last name, email address, and mobile phone number, and you create login credentials.

  • Contact verification. We confirm your mobile number and email using a one-time password (OTP).

  • Bank Verification Number (BVN). We verify your identity using your BVN, which is validated against the records held by the Nigerian banking system. This confirms that you are a real, identifiable person and links your Microvest account to your verified banking identity.

  • Bank account. You must link a Nigerian bank account, which is used to fund and withdraw from your Microvest account.

We may request additional information or documentation where necessary to meet our regulatory obligations or to confirm your identity.

Account tiers and limits

Access to certain features and transaction limits may depend on your level of verification. Where limits apply, completing the required verification allows you to unlock the corresponding functionality.

Ongoing monitoring and reporting

  • We monitor transactions and account activity for patterns that may indicate fraud, money laundering, or other suspicious behaviour.

  • We may request further information, place limits on an account, freeze activity, or close an account where we are required to do so to meet our legal and regulatory obligations, or where we reasonably suspect misuse.

  • Where we are legally required to do so, we report suspicious activity to the relevant authorities, and we may be prevented by law from telling you when we do.

  • We retain identity and transaction records for the period required by applicable law.

Your responsibilities

You agree to provide accurate, current, and complete information, to keep it up to date, and to use Microvest only for lawful purposes. You must not use the Services to launder funds, finance illegal activity, or on behalf of, or for the benefit of, any third party. Providing false information, or attempting to use another person's identity or BVN, is a serious breach of our Terms of Use and may be reported to the authorities.

Contact us

For questions about this policy, contact us at support@microvest.ng or call 070021212121.