Procedure for the renewal of a money lending license in Lagos State

Procedure for the renewal of a money lending license in Lagos State

September 20, 2021

The Money Lenders License granted in Lagos to lenders is only for a period of one year. Each License is usually valid until the 31stof December each year hence the lender has to renew their lenders license every January.

The procedure required to renew a lenders license in Lagos is almost similar with the procedure for obtaining a lenders license in the first instance. The steps to obtain a lenders license includes;

  1. Obtaining of Magistrate Court Form A and B
  2. Payment of the renewal fee of N100, 000 to the Lagos State Ministry of Home Affairs.
  3. Application for the renewal of Lenders license addressed to the permanent secretary of the Ministry of Home Affairs Lagos and submission of all necessary documents including a copy of the previous issued License.
  4. Inspection of the Lender’s office by the officers for the Ministry of Home Affairs.
  5. Verification of all documents tendered.

After the inspection, the application is reviewed by the Ministry and a renewal granted if the Ministry is satisfied that all the requirements have been fulfilled.


618 Bees can help you quickly and easily help you renew your Lending License with Lagos State, Nigeria. Log on to our website www.618bees.comor email, or give us a call on +2349017190079. 618 Bees will complete your application with the Lagos State Ministry of Home Affairs.




The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

More Articles


Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

  • Do I need a Company Secretary?

    A limited liability company (LLC) must not have a company secretary.

  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.

  • What will happen if I buy the wrong category of forms with NAFDAC?

    Nothing, the purchased form will be in your account for future use.


  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.

  • Who benefits from copyright protection?

    The creator of a copyright work, usually referred to as the “author” of the work owns the copyright in the work in the first instance. However, the author is at liberty to transfer his rights to a third party. In such a case, the person who has obtained the right by transfer or other legal means becomes the owner of the copyright.

  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • What is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.

  • Can I trademark my logo and name separately? Why is this a good idea?

    Yes you can. The advantage is that it gives you the opportunity to have more than one logo or the opportunity to change your logo easily as opposed to registering the name and the logo as one trademark.

Call Us Now on +234 901 719 0079 Chat on WhatsApp