How to open a business account in Nigerian Banks

Looking for job? your search ends here! Visit https://recruitmentportalngr.com/  to apply now OR Send us a WhatsApp Message here!




banks
banks

How to open a business account in Nigerian Banks – Opening and operating a business account in Nigerian banks is different from running an individual account in terms of its requirements and documentations. To be able to own a business account, the business must be duly registered with Nigeria’s Corporate Affairs Commission (CAC) or by a relevant agency depending on the nature of business.

A business account generally falls under tier three KYC level and all its documentations must comply with the CBN policy on tier three accounts.

For easy understanding I’m going to divide the requirements into two, one for the account signatories and the other for the business itself.

REQUIREMENTS FOR INDIVIDUAL SIGNATORIES

The following are required from individual signatories of a business bank account in Nigeria:

  1. A valid primary ID card
  2. Means of address verification (utility bill, etc)
  3. Two passport photograph
  4. A duly filled and signed mandate form
  5. Tax identification number (TIN)

DOCUMENTS REQUIRED FOR THE BUSINESS

The following documents are required from the business before opening and operating the account:

  1.    Documentary evidence of address
  2.    2 references
  3.    2 Passport photograph
  4.    Valid ID of all signatories
  5.    Residence Permit (Foreigners)
  6.    Forms CO7 and CO2
  7.    Certificate of Incorporation / Business Registration
  8.    Memorandum and Article of Association
  9.    Board resolution
  10.    Search report
  11.    Duly executed Terms & Conditions

Note that all these documents will be verified by the bank and as such ensure they all valid and authentic, the bank will also conduct a search report with your CAC certificate to verify the existence of the business with their legal unit which you will be required to pay a total sum of N5,000 for the search. As a checking account, you will be charged for your cheque booklet.

Current List of Banks in for Ghana 2018

CHECK OUT THESE INTERESTING STORIES:




Do you need high paying jobs in Nigeria? If yes Submit your CV here and stand a chance of landing your dream job!

About Haruna Magaji 2514 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

7 Comments

  1. CLEAN UK FIRST GRADE CLOTHES, SHOES AND BAGS. Call (07043069364) :::::- Bales of children clothed – N30,500 ,
    [*] Bale of Uk used ladies bra – N21,000 
    [*] Bale Men shirt – N35,000 
    [*] Bale ladies mixed tops – N35,000
    [*] Bale of original shorts – N35,000
    [*] Bale of light Sports wear – N40,000
    [*] Bale Mens polo/t shirt mix – N40,000
    [*] Bale of Ladies mix dresses – N40,000
    [*] Bale of Mens shoes – (186 pairs) – N145,300 
    [*] Children shoes (206 pairs) – N110,000 
    [*] NOTICE : 
    Call (07043069364)
    [ ] bale of mixed underwear pants
    [*] Bale Mixed socks/stockings
    [*] bale of leggings
    [*] bale of singlets/camisoile are also available.
    [*] All items are Tokunbo A grade goods.
    [ ] Prices reflected are fixed price. 
    [*] Items not priced are subject to negotiation
    [*] There’s also a 10%discount for customers getting up to 3bales.

  2. GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT RICH CONNECT TRUST INVESTMENT…?

    RICH CONNECT TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    RICH CONNECT PACKAGES
    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    RICH CONNECT TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    07046246360

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Mrs. GOODLUCK TIMOTHY
    07046246360

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.

  3. *GOOD DAY MA/SIR*

    Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration

    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

    https://api.whatsapp.com/send?phone=2349036369810&text=Am_in_interested_in_lavita_ricca_investment_how_do_i_register

    Note:you get credited in less than 45mins.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem..

Leave a Reply

Your email address will not be published.


*