Online sellers in Nigeria usually combine a naira business account at an established bank with a payment gateway that collects card and transfer payments and settles to that account. Paystack and Flutterwave are the common gateways, and Moniepoint is widely used for business banking and card collection. Naira card transactions settle in naira. Figures here are as of 9 February 2026.
Suits Ecommerce best
Depends on your store; an established bank or Moniepoint for the account, with Paystack or Flutterwave to collect payments.
Typical monthly fee
No fixed monthly fee; gateways charge per transaction, about 1.5 percent on local card payments
Non resident position
A business registered with the Corporate Affairs Commission and a settlement bank account are required to use the main gateways. Non resident owners are subject to checks. Verify with the provider.
Providers that fit
Three covered here
Fees and features as of 9 February 2026Last reviewed 9 February 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Ecommerce businesses in Nigeria usually pair a naira business account at an established bank or Moniepoint with a payment gateway such as Paystack or Flutterwave that collects card and transfer payments and settles to the account. Naira card transactions settle in naira. Compare the per transaction fees and settlement timing. Information as of 9 February 2026, not advice.
What Ecommerce in Nigeria need from a business account
Online sellers need to collect card and bank transfer payments, settle reliably to a business account, handle refunds and chargebacks, and reconcile orders. The usual setup is a naira business account at an established bank or a provider such as Moniepoint, plus a payment gateway such as Paystack or Flutterwave that collects payments and settles to the account. Naira card transactions settle in naira.
P
Paystack
Collects card and transfer payments and settles to a Nigerian business account, with a per transaction fee rather than a monthly charge.
Best for
Stores collecting online card payments
Monthly fee
About 1.5 percent per local transaction; verify current pricing
A payment gateway that, since securing a Nigerian microfinance banking license in April 2026, also holds funds for businesses, with per transaction pricing.
Best for
Sellers wanting payments and business tools together
The international providers we compare do not confirm a business account for companies resident in Nigeria as of 9 February 2026. The providers listed above serve this market: established Nigerian banks such as Guaranty Trust Bank, Access Bank, Zenith Bank, First Bank of Nigeria, and United Bank for Africa, alongside Nigerian payment and foreign receiving services where they fit this business type. Confirm current terms with each provider before applying.
Questions about banking for Ecommerce in Nigeria
What account does an ecommerce business in Nigeria need?
Online sellers usually pair a naira business account at an established bank or a provider such as Moniepoint with a payment gateway such as Paystack or Flutterwave that collects payments and settles to the account. Information as of 9 February 2026, not advice.
How do online sellers get paid in Nigeria?
A payment gateway such as Paystack or Flutterwave collects card and bank transfer payments from customers and settles the funds to the seller business account. As of 9 February 2026, naira card transactions settle in naira. Confirm settlement timing and fees with the provider.
Can an online store receive foreign currency?
Some sellers add a domiciliary account or a foreign receiving service for overseas sales, though for Nigerian card payments settlement is in naira. Funding rules and charges vary and change with regulation. As of 9 February 2026, confirm the current position with the provider.
What does an online seller pay in fees?
Gateways such as Paystack and Flutterwave charge a per transaction fee, around 1.5 percent on local card payments with caps, rather than a fixed monthly fee, and bank accounts apply maintenance and transaction charges. As of 9 February 2026, confirm current pricing with each provider.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 9 February 2026. Confirm current terms with the provider before applying.