KYC & Verification Policy

1. Regulatory Framework

TraderPond enforces a strict Know Your Customer (KYC) and Know Your Business (KYB) validation policy in compliance with the Central Bank of Nigeria (CBN) Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulations. We verify the identity of all platform participants prior to enabling any financial activity.

2. Verification Requirements

Depending on your participant profile, you must provide verified credentials:

SMEs / Vendors (KYB):

• Corporate details: Corporate Affairs Commission (CAC) registration numbers (RC/BN) and Tax Identification Numbers (TIN).
• Director profiles: Valid government-issued ID (International Passport, Driver's License, or national ID card) and Bank Verification Number (BVN) / National Identification Number (NIN).
• Liveness selfie check: Real-time facial biometric scans to verify physical presence.

Capital Providers (KYC):

• Identity verification: Valid government ID, BVN, and utility bills for residential address confirmation.
• For corporate financiers: Corporate registration certificates, director profiles, and board resolution authorizations.

3. Maker-Checker Review Flow

Every KYC submission undergoes a secure, audited two-stage review by platform administrators:

• First Stage: Staff Admins verify all documents and liveness validation checks, recommending approval or rejection.
• Second Stage: Supervisor Admins screen the full package and issue final approval. Virtual bank accounts (NUBANs) are only generated after supervisor approval is complete.

4. Annual Compliance Renewal

To maintain active status, all registered Vendors and Capital Providers must undergo annual KYC re-verification every 365 days. A grace period of 60 days is provided to submit updated documentation. Failure to complete re-verification within this window will lead to virtual account suspension.

5. Sanctions Screening

We conduct periodic automated database checks to screen participants against national and international sanctions lists. TraderPond reserves the right to lock accounts or deny access to any individual or business flagged under compliance checks. For questions, contact support@traderpond.com.