A joint account is the type of account operated by two or more individuals. Each Account holder can effect transactions on the account, in accordance with specified account mandate requirements. This type of account can be a tier two or tier three KYC level account depending on the choice of the co-signatories.

A joint account can a savings or a current account, it is suitable for married couples, between siblings, and sometimes business partners can decide to operate a joint account in the absence of a legal registered entity between them.

Depending on the account mandate, the signatories can decide to have “both to sign” or “either to sign” on all transactions on the joint account.

The following requirements are needed to open a joint account:

Duly completed Account Opening Form
Two Passport Photographs of Each Signatory
Valid means of Identification for each Signatory
Two Reference Forms (if tier three or current)
Valid Utility Bill-Not exceeding 3 months (PHCN, LAWMA, Water Corporation, tenancy agreement, tenement rate)
Bio Data form: Know Your Customer Requirement
Resident Permit(for Non-Nigerians)
Operating Instructions