Pryme
Sign up
Pryme Personal

Money with a heartbeat.

Meet Eva, the assistant inside the Pryme app. She opens accounts, moves money, saves toward your goals and follows up. Nothing leaves your account without your approval.

Meet Eva, the assistant inside the Pryme app. She holds dollars, pounds, euros and Naira side by side, swaps at a locked rate, pays bills in any of them and sends anywhere, asking before anything moves.

HomeEvery currency, every Box and every card on one screen.
Chat with EvaTell her the goal. She handles the steps and asks before anything moves.
Savings BoxesFlexible, Fixed, Investment and Interest-free, side by side.
Create a BoxPick the type, name the goal. Eva works out what to move, and when.
LoansSpaces credit and Salary Advance. Draw only what you need.
Invite friendsThree friends, ₦50,000 each, and ₦20,000 lands with you.
YouEva’s voice, your plan, your address and every security control.
Duress signalA word that looks normal on screen while your people are alerted.
Chat with EvaTell her the goal. She handles the steps and asks before anything moves.
Swap at the live rateOr name the rate you want and she swaps the moment it lands.
One card, every currencySpend from whichever balance suits, and freeze it from the app.
What Eva may do without askingStanding permissions, a voice, and a record of every rule you have given her.
Receipts anyone can verifyRegular or certified statements, e-signed and checkable by whoever receives them.
Open a personal account How we keep your money safe
Pryme app: Home
Pryme app: Chat with Eva
Pryme app: Savings Boxes
Pryme app: Create a Box
Pryme app: Loans
Pryme app: Invite friends
Pryme app: You
Pryme app: Duress signal
Pryme app: Chat with Eva
Pryme app: Swap at the live rate
Pryme app: Multicurrency card
Pryme app: What Eva may do without asking
Pryme app: Receipts and statements
MoneyAgentsApprovalAgentsEvery currencyYour approval

Open an account. Get money to spend.

Global money. Intelligent growth.

We give you a limit to spend at the shops and services you already use — and an account that works on your month while you get on with it. Dollars, pounds and euros sit beside your Naira, and an assistant handles the running of it, asking you first every single time.

One global account for your money and business. Move across currencies, automate everyday operations and put AI agents to work — with you in control of every important decision.

Open Personal or Business Account Already with us? Log in
Open a Business account Download the app for Personal Open an account from anywhere
Pryme app home: every currency on one balance
Personal · the app in your hand
Salary landed₦920,000 from John Doe Ltd · Naira account
Done
Move ₦100,000 to your Rent Box?Keeps ₦127.9m liquid · earns 18% p.a.
Approve
Paid Ikeja Electric₦18,400 · token sent by SMS
Done
Swap $200 → ₦310,000?Rate locked at ₦1,550 for 30 s
Approve
Held a ₦150,000 transferNew payee · unusual hour · needs you
Review
Received $2,400From a client · USD account
Done
Swap $200 → £—?Rate locked for 30 s
Approve
Paid the light bill at home₦18,400 · Ikeja Electric
Done
Keep $1,000 liquid, save the rest?$1,400 → Flexible Box
Approve
Held a £2,000 transferNew payee · needs you
Review
Eva is live
500,000+customers, personal and businessScan to get the app
Get the appScan with your phone camera
Regulated partnersEvery currency held with a licensed institution in its market
Solid AllianzeCBNNDIC
Scan to get the app
Get the appScan with your phone camera
Instant settlementOur own core ledger: swaps land at once, every receipt verifiableScan to get the app
Get the appScan with your phone camera
Agents with a mandatePowered by Pryme Intelligence. Nothing moves without youFlip
Pryme Intelligence
Eva, the assistant that runs a Pryme accountEvayour assistant
The Chief of Staff agent on a Pryme Business AccountDanielChief of Staff
The Finance agent on a Pryme Business AccountBenFinance
PrymeBruceCare
Inside a mandate you write. Every action logged.
Multi-currency30 currencies on one balanceFlip
Locked rates30 s
🇺🇸 1 USD—
🇬🇧 1 GBP—
🇪🇺 1 EUR—
The rate you see is the rate you get.
10 years2016 to today, one trunkScan to get the app
Get the appScan with your phone camera
Business Account

Open an account. Get customers.

Your competitor down the road sells the same thing you sell. The difference is who walks in. We put money in people’s hands that can only be spent in businesses like yours — and then we point them at you.

The Pryme Business home page: three currency balances on one account, the money actions, five agents working and a live stream of what they have done
Business · the page your team signs into
Spaces · Nigeria

We hand the customer the money. It can only be spent with you.

You are not borrowing. You are selling to somebody who already has the money — and that money can only be spent with a business like yours.

The business · Pryme Business
johndoe.mypryme.com · Spaces

Spaces Showing 30 days

Spaces is onshoppers near you can see your shop
Spaces brought you · 30 days ₦2,578,550.00 104 sales from 71 shoppers ▼ 4% on the period before
Where the money came from
91% shoppers who had been in before 9% first visit to your shop
21 of 71 came back more than once Average basket ₦24,793.75 Biggest shopper ₦142,300.00
24 Jul returningnew to you 22 Aug
Money on its way to you confirmed at the counter · on its way to your Naira account
Confirmed at the counter ₦47,150.002 sales today · final the moment they paid
Sales of 23 Aug₦90,9503 sales · confirmed
Sales of 24 Aug₦196,2005 sales · confirmed
Sales of 25 Aug₦47,1502 sales · confirmed
nothing for you to do · it arrives on its own
Lands in your NGN account ₦334,300.0010 sales in flight
The shopper · Pryme app
4:34
‹
BorrowLoans
SpacesSalary Advance
Spaces credit₦21,450 available
Repay ₦78,550
₦78,550 in use₦100,000 limit
Hold 25% · repay 2 more early to drop to 20%

₦100,000 from day one · agreement v2.1 · 12 Aug · View

Near youCategories 9Your loans 9
🛒Grocery / Retail4 places
🍽Eateries / Restaurants4 places
💊Pharmacies3 places
🎬Movies & Cinema3 places
🚌Transport3 places
💇Spa’s & Saloons3 places
Say “Hey Pryme”🎤
HomeBoxes CardsYou
Freeto join, nothing monthly. You are in the app the day you switch it on.
You get paidthe sale settles into your Naira account. Nobody to chase.
Zero riskwe carry the credit, whether or not the shopper repays us.
You growfaces that had never been to your shop — and most come back on their own.
The account

One account. Every currency you trade in.

Pryme Business4 currencies · one ledger
Base
₦127,328,879.23NGN · Nigerian Naira
$1,240.00USD · US Dollar
£480.00GBP · Pound Sterling
€310.00EUR · Euro
  • A named Naira account with Solid Allianze MFB — NDIC insured, your business name on it.
  • Real details abroad. A US account number, a UK sort code, an IBAN for the euro area.
  • Every currency has its own statement — regular or certified, with a code anyone can verify.
Swapping · in the app
4:34
‹···
Current account · NGN ₦127,328,879.23
SwapBoth balances move at once, on one ledger
Fill it inAsk Eva
$1 = ₦1,650.00
FromNGN ▾
250,000Available ₦127,328,879.23
ToUSD ▾
151.52after swap $1,391.52
Rate$1 = ₦1,650.00
Fee—
You get$151.52
NowWhen it hits

Eva waits for your rate and asks before she moves anything.

Target rate
$1 =1,585.00₦
Set the watch
Pryme Pay

Take money on your site, or on a checkout of your own.

No card, no OTP, nothing for the buyer to type in. They transfer from the bank app they already use, and the money lands in the same account your agents are running — already matched to the order, already in your books.

Pay from your bank app

We give the buyer a one-time account number. They transfer to it from any bank app or by USSD — no card, no OTP, nothing to type in.

Get the account number
  • Card details are never asked for, so they cannot leak.
  • The account is used once, then it closes.
  • Held with a licensed bank, insured by the NDIC.
Transfer exactly this amount

To this account, from any bank app. We watch it, and the page updates itself.

Send exactly₦26,767.50Copy
BankSolid Allianze MFB
Account number0000 000 000Copy
Account namePRYME / JOHNDOE‑ORD1042
Watching the account — nobody has to confirm anything.
Payment received

₦26,767.50 from GTBank · John D., matched to order ORD‑1042.

OrderORD-1042
Settled intoJohn Doe Trading Ltd · Naira account 0000 000 000
Receiptsent to the buyer
Get your receiptRun it again
Your checkout, your brand.On the site you already have, in your colours, on your own domain — or on a page we host for you.
A link for anything you sell.One price, one buyer, one link — sent on WhatsApp, Instagram or email, and paid the same way.
It lands already reconciled.Matched to the order, receipt issued, and in your books before you have looked at it.
Business Account

A team you did not have to hire.

Five agents come with the account. Each one has a job description, a budget and a ceiling you set. They do the work and bring it to you — nothing leaves the account without your signature.

CS Chief of Staff Runs the week

Knows what is stuck, who is waiting and what you promised — and keeps all three moving.

Booked a meeting with John Doe Foods for Thursday 11:00.
FI Finance Watches the money

Keeps the books as you trade and tells you the moment something does not add up.

Flagged a duplicate — invoice DP‑11908 was already paid in July.
COCompliance Keeps you inside the rules

Holds every filing to its own clock and screens names and payments against your policy — and logs what it refuses.

Screened 412 payments overnight and refused two of them.
SA Sales Chases what is owed

Goes back to the buyers who went quiet, with the receipt already attached.

Recovered ₦410,000 across three overdue invoices.
SU Customer Support Answers your customers

Replies, follows up on what they asked for and hands you only the ones that need you.

Resolved 4 conversations — two deliveries, one refund.
Every agent prepares and proposes. You are the only one who can approve.
Build on Pryme

Our rails, under your product.

Issue a dedicated Naira account number to each of your own customers, collect into it and reconcile against it. The same rails the Business Account runs on, with the licence behind them.

Read the API
Pryme Business

One business account. Every currency you trade in.

Dollars, pounds and euros beside a Naira account, on one ledger and one set of books. Five agents come with it and run the account — nothing leaves without your signature.

The Pryme Business home page: Naira, dollar and pound balances on one account, the money actions, five agents working and a live stream of what they have done
Business · the page your team signs into

A team you did not have to hire

Five agents come with the account. Each has a job description, a budget and a ceiling you set. They do the work and bring it to you — they propose, you approve.

CSChief of Staff Runs the week

Knows what is stuck, who is waiting and what you promised, and keeps all three moving.

Booked the quarterly review with your auditor for Thursday.
FIFinance Watches the money

Keeps the books in every currency you hold and flags the moment something does not add up.

Flagged a duplicate — invoice DP‑11908 was already paid in July.
COCompliance Keeps you inside the rules

Holds every filing to its own clock and screens names and payments against your policy — and logs what it refuses.

Screened 412 payments overnight and refused two of them.
SASales Chases what is owed

Goes back to the buyers who went quiet, with the invoice and the receipt already attached.

Recovered $12,400 across three overdue invoices.
SUCustomer Support Answers your customers

Replies, follows up on what they asked for and hands you only the ones that need you.

Resolved 4 conversations — two deliveries, one refund.
Every agent prepares and proposes. You are the only one who can approve.
Open a business account

Ten years, one trunk

The business has changed shape four times and never changed what it was rooted in. Each version was built out of what the last one could not do.

2016E-commerce

An online grocery store, built out of a faulty tab. Selling the food was the easy part — taking the money for it, and moving it, turned out to be the business.

2018OjirehPrime Card

A prepaid card. The first time the company issued rather than resold, and the first time it carried the obligations that come with holding somebody else’s money.

2020Microfinance bank

PrymeSolid Allianze acquired — an existing bank with an existing licence. The perimeter stopped being someone else’s to draw.

2023Multicurrency

More than one currency on one balance, and the rebrand to Pryme. A Nigerian business could hold dollars without holding a second institution.

2026Agentic operations

Accounts that do the work rather than only hold value. Five agents on the account, inside a policy you write — which is where the new mark starts.

Questions

The things people ask us first.

What is Pryme?

Pryme is a financial technology company. It gives people and businesses in Nigeria one account that holds Naira alongside dollars, pounds and euros, and a set of agents that do the running of it — keeping the books, chasing what is owed, answering customers and paying bills. Nothing leaves an account without the owner’s approval.

Can I hold dollars, pounds and euros in a Pryme account?

Yes. A Pryme account holds Naira, US dollars, pounds sterling and euros side by side on one ledger, each with its own account details — a Nigerian account number, a US account number, a UK sort code and an IBAN for the euro area. You can swap between them at a rate you set, and every currency has its own statement.

What is Spaces?

Spaces is available in Nigeria. It gives a shopper money to spend that can only be spent with a participating business. The business is paid into its Naira account whether or not the shopper repays, because Pryme carries the credit. For the business it is free to join, there is nothing monthly, and the customer’s identity is never shown — only a reference and what it is worth.

What do the agents on a Pryme Business Account do?

Five agents come with the account. The Chief of Staff runs the week and keeps what is stuck moving. Finance watches the money and keeps the books as you trade. Compliance keeps the filings on time and screens what moves. Sales chases what you are owed. Customer Support answers your customers and follows up. Each has a job description, a budget and a ceiling you set, and each one proposes rather than acts — nothing leaves the account without your signature.

How does Pryme Pay work?

Pryme Pay takes payments on your own site or on a checkout page you control. The buyer is given a one-time account number and transfers to it from any bank app or by USSD — no card, no OTP, nothing to type in. The money lands in the same account your agents are running, already matched to the order and already in your books.

What are Savings Boxes?

Savings Boxes are separate pots inside a Pryme account, held in Naira. Flexible Boxes can be withdrawn at any time, Fixed Boxes hold to a date, Investment Boxes hold for longer, and Interest-free Boxes earn nothing by design. A business can use them to ring-fence payroll and the tax it withholds, so that money cannot be spent by accident.

Who holds my money, and is it protected?

Pryme is a financial technology company, not a bank. Accounts and deposits are provided by Solid Allianze Microfinance Bank Limited, which is licensed by the Central Bank of Nigeria and is a member of the Nigeria Deposit Insurance Corporation.

Can I build on Pryme?

Yes. Pryme Rails lets a platform issue a dedicated Naira account number to each of its own customers, collect into it and reconcile against it, over one API — the same rails the Pryme Business Account runs on.

What is Pryme?

Pryme is a financial technology company. It gives you one account that holds US dollars, pounds sterling and euros beside Naira, with an assistant that runs the account for you and asks before anything moves. Accounts are provided in Nigeria today, and further markets open as each licence lands.

Can I open a Pryme account from outside Nigeria?

Accounts are provided in Nigeria today, subject to verification and approval. Foreign-currency balances are held and converted inside that account, so you can hold, receive and swap dollars, pounds and euros wherever you are.

Which currencies can I hold with Pryme?

Naira, US dollars, pounds sterling and euros, side by side on one ledger. Each has its own details — a Nigerian account number, a US account number, a UK sort code and an IBAN for the euro area — and each has its own statement.

How do I send money to Nigeria with Pryme?

Swap at a rate you set rather than the rate of the day, then send to any Pryme username or to a Nigerian bank account. There is no fee to send to another Pryme account.

What does the assistant do?

Eva is the assistant inside the Pryme app. She opens accounts, moves money, saves toward your goals, pays what is due and follows up what is owed to you — and asks you before anything moves.

What is Pryme Rails?

Pryme Rails lets a platform issue a dedicated Naira account number to each of its own customers, collect into it and reconcile against it, over one API — the same rails the Pryme Business Account runs on.

The Ledger

Notes on money that does the work: what we are building, what the regulation actually says, and how we think about letting software act on money. Read the Ledger

Scroll for more
Home · The Ledger · Merchant and foreign
Banking how-tos

Merchant bank vs commercial bank in Nigeria: the difference

What separates a merchant bank from a commercial bank in Nigeria: CBN licence categories, capital rules, who each serves and how deposits are insured.

PE
Pryme editorialBanking desk · 19 Oct 2026 · 4 min read
The short answer

In Nigeria a commercial bank serves the general public through branches, cards and current accounts, while a merchant bank focuses on corporate lending, treasury, trade and investment banking for companies and wealthier clients. Both are licensed by the CBN and insured by the NDIC. The CBN's 2024 rules set minimum capital of ₦50 billion for merchant banks and ₦50 billion to ₦500 billion for commercial banks depending on their authorisation.

If you have heard of Coronation, FSDH or Greenwich but never seen one of their branches on your street, that is by design. Merchant banks and commercial banks are separate licence categories under the Central Bank of Nigeria (CBN), and they are built for different customers. This guide sets out the differences that matter to an ordinary account holder or business owner.

Two CBN licence categories

The CBN licenses banks by category. Commercial banks are licensed with international, national or regional authorisation, which governs where they may operate. Merchant banks hold a separate licence that is oriented towards wholesale and corporate business. There are also non-interest banks, microfinance banks, payment service banks and primary mortgage banks, each with its own rules. Our guide to CBN bank licence types covers all of them.

Minimum capital

The clearest published difference is capital. Under the recapitalisation guidelines the CBN unveiled on 28 March 2024 (reported by ICIR), banks had until 31 March 2026 to meet these minimums, counting only paid-up capital and share premium:

LicenceMinimum capital (2024 guidelines)
Commercial bank, international authorisation₦500 billion
Commercial bank, national authorisation₦200 billion
Commercial bank, regional authorisation₦50 billion
Merchant bank₦50 billion
Non-interest bank, national₦20 billion
Non-interest bank, regional₦10 billion

The deadline has now passed. Which banks met it, merged or changed licence is a matter for each bank's own announcements and the CBN; check those rather than relying on older lists.

Who each type serves

Commercial bankMerchant bank
Main customersIndividuals, small businesses, corporates, governmentCorporates, institutions, government agencies, high-net-worth individuals
Typical productsSavings and current accounts, cards, POS, transfers, consumer and SME loansCorporate and trade finance, treasury and FX, investment banking, custody, term deposits
Branch networkWide, often nationwideFew offices, mostly Lagos, with some in Abuja and Port Harcourt
Account openingWalk in or open on an app, low or no minimumUsually relationship-led, higher expected balances

The lines are not rigid. Coronation's website lists Affluent Banking and Private Banking, and FSDH's has an individual account route and Prestige Banking, so some merchant banks do serve personal customers, usually those with larger balances. Meanwhile large commercial banks run their own corporate and investment banking arms.

Deposits and NDIC insurance

Both types are insured by the NDIC. The NDIC's insured-banks directory, checked in October 2026, lists six merchant banks: Coronation, FBN Quest, FSDH, Greenwich, Nova and Rand Merchant Bank. In May 2024 the NDIC set cover for deposit money banks at ₦5 million per depositor (Arise News, 3 May 2024). The cover is per depositor per bank, so a large corporate balance is mostly uninsured whichever kind of bank holds it. That is why corporate treasurers look closely at a bank's capital, rating and financial statements. See NDIC limits explained.

How to tell which type of bank you are dealing with

Names do not always help: some merchant banks drop the word from their brand, and some groups own both a merchant bank and an asset manager or stockbroker under the same name. Three checks settle it.

  1. Look at the footer of the bank's website. Coronation's states it is licensed by the CBN and the Securities and Exchange Commission; FSDH's states it is licensed by the CBN and lists the SEC functions it is registered for, such as receiving bank and custodian.
  2. Search the NDIC insured-banks directory and use its filter. Each entry is tagged with a bank type, for example "Merchant Bank" or "Commercial Bank".
  3. Check the exact legal name on your account documents. A fund or investment product from a sister company is not a bank deposit and is not covered by deposit insurance.

That last point catches people out. A money market fund sold by an asset management company in the same group as a bank can look similar to a deposit, but it is an investment regulated by the SEC, and its value can move. Ask in plain terms whether the product is a deposit with the bank itself.

Why the difference matters to a business owner

For an SME, the licence type shapes the relationship. A commercial bank will usually open a current account quickly and give you cards, POS and payroll tools. A merchant bank is more likely to assign a relationship manager, price facilities case by case and expect a certain level of business before it does so. Neither is better in general; the right fit depends on whether you need everyday payments or structured finance.

Which should you use?

  • Everyday banking, salary, cards and small transfers: a commercial bank or a licensed digital bank is built for this.
  • Large term deposits or treasury investments: merchant banks often quote competitively for size; see merchant bank fixed deposits.
  • Import finance, letters of credit and FX: both can help; merchant banks specialise in it.
  • Raising capital or issuing bonds: merchant banks and the investment banking arms of commercial banks act as issuing houses.

Where Pryme fits

Pryme Financial Ltd is a technology company, not a bank of either type. Naira deposits in the Pryme app are held by Solid Allianze Microfinance Bank Ltd, licensed by the CBN and insured by the NDIC up to the applicable limit. A Pryme Business Account holds NGN, USD, GBP and EUR with local account details for each, which covers much of the day-to-day banking a growing business needs.

Questions people ask

Is a merchant bank the same as a commercial bank in Nigeria?

No. They hold different CBN licences. Commercial banks serve the general public; merchant banks focus on corporate, treasury and investment banking.

Can I open a personal account with a merchant bank?

Some merchant banks accept individuals, usually through private or affluent banking. FSDH, for example, has an individual account route on its website.

How many merchant banks are in Nigeria?

The NDIC insured-banks directory listed six in October 2026: Coronation, FBN Quest, FSDH, Greenwich, Nova and Rand Merchant Bank.

Are merchant banks insured by NDIC?

Yes. All six on the NDIC directory are insured institutions, with cover up to the per-depositor limit.

Sources

  1. CBN issues banks' recapitalisation guidelines, raises minimum capital base to N500bn (ICIR, 28 Mar 2024) · accessed Oct 2026
  2. NDIC: Insured banks directory, Merchant Banks (live page) · accessed Oct 2026
  3. NDIC increases deposit insurance coverage levels (Arise News, 3 May 2024) · accessed Oct 2026
  4. Coronation Merchant Bank: homepage (services and footer) · accessed Oct 2026
  5. FSDH Merchant Bank: Contact Us · accessed Oct 2026

This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.

More on Merchant and foreign

Banking how-tos

How to complain about a microfinance bank in Nigeria

Complain to the microfinance bank first, expect a tracking number in three days, then escalate to the CBN after two weeks. Steps and what to include.

PEPryme editorial · Consumer desk19 Oct 2026 · 4 min
Banking how-tos

Microfinance bank licence revoked: how to get your money

When the CBN revokes a microfinance bank's licence, the NDIC pays insured deposits. Who gets paid automatically, the documents and how to claim.

PEPryme editorial · Consumer desk19 Oct 2026 · 4 min
Banking how-tos

Why some microfinance banks cannot receive instant transfers

Why a microfinance bank may be missing from your app's bank list or slow to receive transfers, and how to check before you send money.

PEPryme editorial · Payments desk19 Oct 2026 · 4 min