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New Suggested 5/22/2024 by Jide Ipadeola

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WHAT ARE THE REQUIREMENTS IN PROVING FINANCIAL CAPABILITY?

Theminimumfinancialrequirementforanentitytoparticipateinthe licencingroundincludethefollowing:

1.AverageannualturnoverofUS$200,000,000.00;

2.CashathandtothetuneofUS$200,000,000.00;

3.Letterofcreditfromareputablefinancialinstitutiontothetuneof

US$200,000,000.00;

4.AmarketcapitalizationofnotlessthanUS$2Billion;

5.BankGuaranteeto thetuneofUS$200,000,000.00;or

6.ParentCompanyGuaranteetothetuneofUS$200,000,000.00(for newlyincorporatedcompanies).




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