21 Jul, 2021
GENERAL REQUIREMENTS FOR OPENING A CORPORATE ACCOUNT IN NIGERIA
Most banks in Nigeria require you to comply with the following requirements to open a corporate account You can check with the bank directly to find out if they need any additional documents.
CAC REGISTRATION DOCUMENTS
To enable a corporate body to open a corporate bank account, it must be registered with the Corporate Affairs Commission. The body in charge of registration and regulations of all registered entities in Nigeria.
TAXPAYER IDENTIFICATION NUMBER
To open a corporate account in Nigeria, you must have a valid Tax Identification Number which is a unique identification number issued by the Federal Inland Revenue Service that identifies the taxable person and his or her business activities in Nigeria. A TIN can be obtained from the local tax office closest to the address of the registered business.
VALID MEANS OF IDENTIFICATION
The Valid means of identification must be a government-issued identity card. i.e National Identity Card (NIN), Driver's License, International Passport or Permanent Voter's Card.
UTILITY BILL OF OPERATING ADDRESS
You also need utility bills from all premises where your business is currently located so that officials can verify them at the designated branch offices before they will open your corporate account.
Other requirements may include:
By Fathenso Professional Services
The information in this blog post is provided for general information purposes only.