Kuda has rolled out a new feature that allows NGOs, charities, and religious organisations to open and manage business accounts entirely online, cutting through weeks of traditional paperwork and branch visits.
Registered organisations can now complete the process via the Kuda Business app, providing their CAC documents and trustee information, and have accounts activated within minutes.
For many of Nigeria’s thousands of NGOs and religious institutions, slow, branch-dependent banking has long hindered the management of donations, grants, and operational expenses.
The Kuda update promises to simplify these processes, enabling organisations to focus more on their mission and less on administrative bottlenecks.
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“NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” said Nosa Oyegun, SVP Business Banking at Kuda.
“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”
This also allows users to handle incoming donations and grants, make payments, monitor transactions in real time, generate professional account statements for audits, and grant controlled access to trustees, treasurers, and administrators, all within a single app.
The signup process is designed to meet regulatory standards while reducing manual reviews, speeding up account activation, and improving information accuracy.
The timing of the update coincides with reforms in Nigeria’s financial sector. The Central Bank of Nigeria’s cashless policy imposes charges on high-volume cash withdrawals, affecting organisations that handle large donations. Digital banking solutions like Kuda’s now offer a practical way to avoid these expenses.
In addition, regulatory changes in 2025, including recognition of digital assets under the Investment and Securities Act (ISA) 2025, have strengthened the legal framework for fintechs to safely provide services to sensitive sectors.
However, despite Nigeria’s position as Africa’s fintech leader, with over 430 fintech firms, millions of organisations are still excluded from digital finance due to infrastructural gaps and low financial literacy. Kuda’s move directly addresses this gap for NGOs and religious groups.
Nonetheless, economic stress, policy resets, and reforms in trade and banking policies have made digital-first, transparent financial tools more essential.
Focusing on incorporated trustees, Kuda is now launching an accounts solution for NGOs and religious organisations seeking speed, efficiency, and compliance in the dynamic regulatory and economic environment.
