Legal Consultation/Opinion Services (This service is for the provision of legal guidance/advisory services or Legal opinion notes centering on the complete requirements for different Fintech business licenses in Nigeria as well as their prohibited activities and post-licensing regulatory compliance requirements).
Legal Fees
-Legal Consultations (Online)
a). Nigerians resident in Nigeria:- 180,000.00(One Hundred & Eighty Thousand)Naira per hour.
b). Nigerians resident /based abroad/outside Nigeria:- 275,000.00(Two Hundred & Seventy-Five Thousand)Naira/$240.00 per hour
c). Foreigners/Non-Nigerians :– $400.00(Four Hundred US Dollars) per hour.
-Legal Consultations (Face-to-Face)
a). Nigerians resident in Nigeria:- 250,000.00(Two Hundred & Fifty Thousand)Naira per hour.
b). Foreigners/Non-Nigerians :- $550.00(Five Hundred & Fifty US Dollars) per hour.
-Legal Opinion Preparation (One-off fee with a provision for follow-up enquiries)
a). Nigerians resident in Nigeria:- 300,000.00(Three Hundred Thousand)Naira.
b). Nigerians resident /based abroad/outside Nigeria:– 450,000.00(Four Hundred & Fifty Thousand)Naira/$450.00 .
c). Foreigners/Non-Nigerians :- $900.00(Nine Hundred US Dollars).
Fintech License Procurement Services
-Legal Fees
a). Nigerians resident in Nigeria:- 10% – 15% of the applicable license fee monetary value (except in respect of digital money lending license applications).
b) Nigerians resident/based outside Nigeria :– 15%- 20% of the applicable license fee monetary value (except in respect of digital money lending license applications).
c). Non-Nigerian citizens/Foreigners :- 25% – 35% of the applicable license fee monetary value (except in respect of digital money lending license applications). Fees are to be paid in US Dollar equivalent values.
-Money-Lending License Applications(Minus Company Registration Services).
a). Nigerians resident in Nigeria:– 700,000.00 (Seven Hundred Thousand) Naira . 1,200,000.00(One Million,Two Hundred Thousand)Naira where an additional lending app is to be registered by the same company.
b). Nigerians resident/based outside Nigeria :- 1,000,000.00(One Million) Naira /$1,000.00(One Thousand US Dollars), 2,000,000.00(Two Million) Naira/$2,000.00(Two Thousand US Dollars) where an additional lending app is to be registered by the same company.
c). Non-Nigerian citizens/ Foreigners:– $1,600.00(One Thousand,Six Hundred US Dollars), $2,700.00(Two Thousand US Dollars) where an additional lending app is to be registered by the same company.
–Money-Lending License Company Registration Services (20 Million Naira Minimum Share Capital ).
a). Nigerians resident in Nigeria:- 650,000.00(Six Hundred Thousand)Naira.
b). Nigerians resident/ based outside Nigeria:- 875,000.00 (Eight Hundred &Seventy-Five Thousand)Naira/$800.00(Eight Hundred US Dollars)
c). Non-Nigerian citizens/ Foreigners:- $950.00 (Nine Hundred & Fifty US Dollars).
Fintech Company Registration Services
a). Nigerians resident in Nigeria – 10%-15% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value.
b). Nigerians resident/based outside Nigeria – 15%-20% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value.
c). Foreigners/Non-Nigerian Citizens – 20%-30% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value. Fees in this subcategory are payable only in the applicable US Dollar equivalent value.
Fintech Business License Renewal Services
-Legal Fees
a). Nigerians resident in Nigeria – 5%-10% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value.
b). Nigerians resident/based outside Nigeria – 10%-15% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value.
c). Foreigners/Non-Nigerian Citizens – 15%-25% of the applicable minimum share capital or a stipulated fee, whichever is higher in monetary value. Fees in this subcategory are payable only in the applicable US Dollar equivalent value.
***All fees in this schedule do not represent specific fee quotations,are negotiable only within the strict boundaries set by the legal practitioners remuneration order 2023 and are subject to the discretion of the firm of I.OGBUKA LEGAL.