Business account fees in Nigeria: what you pay and how to pay less

Snapshot

Business account costs in Nigeria usually combine an account maintenance charge on certain transactions with per transaction fees for transfers and services, plus regulated charges such as stamp duty on qualifying inflows. Many charges sit within limits set by the Central Bank of Nigeria. Figures here are as of 15 May 2026.

Typical structure: An account maintenance charge plus per transaction fees, within Central Bank of Nigeria limits. Verify with the provider.
Biggest variable cost: Per transaction and transfer charges for businesses that make many payments.
Domiciliary accounts: Foreign currency accounts can carry their own charges and rules. Verify current terms.
Cheapest route: Often electronic channels and an account matched to your transaction pattern.

Fees and features as of 15 May 2026Last reviewed 15 May 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

Business account costs in Nigeria usually combine an account maintenance charge on certain customer induced debit transactions with per transaction fees for transfers and services, plus regulated charges such as stamp duty on qualifying inflows. Many of these charges sit within limits set by the Central Bank of Nigeria, but the exact basis, caps, and any waivers vary by bank and account type, and the rules change. Domiciliary accounts that hold foreign currency can carry their own charges. As of 15 May 2026, confirm the current tariff with the bank before you apply.

How business account fees work in Nigeria

Most business account pricing in Nigeria combines an account maintenance charge on certain transactions with per transaction fees for transfers, card use, and other services. Several charges are framed by the Central Bank of Nigeria, which sets and updates limits through its guide to bank charges. Because the rules change and each bank publishes its own tariff, the safest approach is to read the current schedule of charges for the specific account. Figures here are as of 15 May 2026.

Account maintenance and transaction charges

Nigerian banks commonly apply an account maintenance charge on certain customer induced debit transactions, within limits set by the Central Bank of Nigeria, alongside per transaction fees for electronic transfers and other services. The exact basis, any caps, and waivers vary by bank and account type. As of 15 May 2026, confirm the current tariff with the bank, since published charges change.

Regulated charges and domiciliary accounts

Some charges are set by regulation rather than the bank, such as stamp duty on qualifying inflows. Domiciliary accounts that hold foreign currency such as US dollars, pounds, or euros can carry maintenance, transfer, and withdrawal charges that differ from naira accounts, and funding and withdrawal rules can change with regulation. Verify the current position with the bank before you rely on it. As of 15 May 2026.

Ways to reduce what you pay

Match the account and the channels you use to how you actually transact, favour electronic channels where charges tend to be lower, watch per transaction costs if you make many payments, and compare published tariffs between banks before you open. Confirm all figures with the bank, as charges change. As of 15 May 2026.

The international providers we compare do not confirm a business account for companies resident in Nigeria as of 15 May 2026. Companies in Nigeria usually bank with an established local bank such as Guaranty Trust Bank, Access Bank, Zenith Bank, First Bank, or United Bank for Africa. Compare their published tariffs and see the related guides below before applying.

Questions about business banking in Nigeria

What does a business account cost in Nigeria?

Costs usually combine an account maintenance charge on certain transactions with per transaction fees for transfers and other services, plus charges set by the regulator such as stamp duty on qualifying inflows. Domiciliary accounts can carry their own charges. As of 15 May 2026. Verify current terms with the provider.

What is the account maintenance charge?

Nigerian banks commonly apply an account maintenance charge on certain customer induced debit transactions, within limits set by the Central Bank of Nigeria. The exact basis and any caps vary by bank and account type, and rules change. As of 15 May 2026. Verify with the provider.

Are there charges on domiciliary accounts?

Domiciliary accounts that hold foreign currency can carry maintenance, transfer, and withdrawal charges that differ from naira accounts, and funding and withdrawal rules can change with regulation. As of 15 May 2026. Verify current terms with the provider.

How can a business reduce account fees?

Match the account and channels to how you actually transact, use electronic channels where charges are lower, watch per transaction costs if you make many payments, and compare published tariffs between banks. As of 15 May 2026. Verify with the provider.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 15 May 2026. Confirm current terms with the provider before applying.