Top Business Idea In Nigeria This 2020

Top 1 Business Idea In Nigeria This 2020

top 1 business idea

There are a lot of businesses one can do in Nigeria and make money. Some are fast moving with little profit and some are slow moving with huge profit. But this one might require sometimes not much capital or much. It all depends on how you want it. You don’t require much training to start. I will show you the top 1 business idea in Nigeria this 2020.

The business is called Agency Banking. Or mobile money business. This business is the age of Nigeria today.

It’s virtual everywhere, and fast moving. The thing is that people needs banking services, every now and then. But we can’t even meet the ever growing demand of the teeming Nigerian population.

Now if you are unemployed or a graduate without a job. Or even a business man that wants to add more businesses to his chains. Or even a student, you can do it work and study and earn much.

Why You Must do this Business Top 1 Business Idea

It can be one man’s business.
You can start with at least #50000.
It’s fast moving.
Competitive if you have enough fund, you will never meet demand. This is because it kept coming.
You can start in a big, small shop or even quioks by the road side.

Who Are The Companies Involved In this Business?

They are virtually all Nigerians banks. And some digital mobile companies like Opay, some leading Micro finance banks.

Banks like First bank is leading with highest number of Agents and are among the first after FCMB – first city monument bank. First bank own is called Firstmonie.

Then FCMB agent banking. Access bank know as Access Money. Zenith bank agent banking. Sterling Bank, Wema bank agent banking, Union bank agent banking, and a lot more.

Just choose the bank you want to work or you can work for different banks at the same time.

How To Apply For Agent banking

Visit any branch of the bank you want to work with.
If you have a registered business with Corporate Affairs Commissions you can start it with that. This is because you can access more credit facilities in future with that. But if you don’t just start the business with your name.

 

  • Submit two passport identity card
  • Valid means of identity card- voters card, national –
  • Identity card, driving license or international passport.
  • Valid phone number
  • Working email address.
  • Working amount to start with from #50000.00
  • Physical address location of your shop.

And this is for non registered but if you register your business. Then submit the bank with the following

  • certificate of incorporation for site seeing.They photocopy and give you back the original.
  • valid phone number,
  • email address
  • two passport
  • valid means of identification, which could be voters card. National ID card, drivers license or international  passport.
  • Amount to start with from #250,000 and above.
  • Address location of your business.

And when you have submitted all these with the bank you want work with. In about about a week or two. Your account will be ready for transaction.

First of all you will be set up the mobile app and USSD for the transaction. Then the POS -point of sales machine will be sent soonest.

Businesses You can Do As An Agent Banking

  • Deposit Cash
  • Withdraw cash
  • Pay bills like utility bills, Cable bills, DSTV,GOTV, STARTIMES etc,
  • Open account for customers.
  • Sell airtime top up of any network.
  • Transfer cash to any bank account in Nigeria.
  • Receive Tax for Nigerian government. And lots more.

And all these you do at a few or commission. From there you make money everyday. Now you see why this is a top 1 business idea.

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