What is KYC?
Know Your Customer (KYC) is the process of verifying the identity of individuals and businesses before establishing a relationship or completing a transaction. It is a fundamental requirement under AML/CFT regulations and is enforced by regulators including the CBN, NDIC, and SEC. Sigma KYC provides real-time identity lookups against Nigerian government databases, allowing you to verify customers using their Bank Verification Number (BVN), National Identification Number (NIN), or Corporate Affairs Commission (CAC) registration details.Why it Matters
Regulators require financial institutions and fintechs to verify customer identity at onboarding and throughout the relationship. Failing to implement effective KYC can result in:- Regulatory fines and licence revocation
- Facilitating fraud or financial crime
- Reputational damage and loss of business partnerships
- Failed audits and compliance reviews
Available Lookups
| Lookup | What it verifies | Use case |
|---|---|---|
| BVN Search | Individual identity via Bank Verification Number | Verify bank customers, confirm personal details and photo |
| NIN Search | Individual identity via National Identification Number | Verify individuals using NIMC records, including next-of-kin details |
| CAC Search | Business identity via Corporate Affairs Commission registry | Verify business registration status, directors, and shareholders |
Core KYC Capabilities
- Identity Verification: Retrieve verified personal and business information directly from government databases.
- Real-time Lookups: Get results instantly via a simple API call with no batch processing or delays.
- Comprehensive Data: Access biographical details, contact information, photos, and associated records.
- Business Verification: Look up CAC-registered businesses including directors, shareholders, and registration status.
Getting Started
Set up your credentials and make your first KYC lookup.
Use Case
See how KYC supports customer onboarding and identity verification.