A Nigerian business holds foreign currency through a domiciliary account at a Central Bank of Nigeria authorised dealer bank, which can hold and receive currencies such as US dollars, pounds sterling, or euros alongside a naira account. The international multi currency providers we track do not confirm accounts for Nigeria resident businesses. Figures here are as of 19 January 2026.
- The usual route
- A domiciliary account at a Central Bank of Nigeria authorised dealer bank
- Currencies
- US dollars, pounds sterling, euros, and sometimes other major currencies. Verify with the bank.
- Rules
- Set by the Central Bank of Nigeria and subject to change, including reporting of transfer purposes
- International providers
- Do not confirm Nigeria resident business accounts as of 19 January 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Multi currency and foreign currency accounts in Nigeria
In Nigeria the standard way for a business to operate in more than one currency is a domiciliary account at a bank authorised by the Central Bank of Nigeria to deal in foreign exchange. A domiciliary account can hold, send, and receive foreign currency such as US dollars, pounds sterling, or euros, and some banks support other major currencies. It runs alongside the naira account rather than replacing it. As of 19 January 2026, confirm the supported currencies and charges with the bank.
Rules and limits
The Central Bank of Nigeria sets and updates the rules for foreign currency accounts and transfers, and recent guidance has eased access to balances while keeping reporting requirements such as recording the purpose of transfers in the foreign exchange management system. Daily telegraphic transfer thresholds have applied. Because these rules change, confirm the current limits and documentation with the bank before you rely on them. As of 19 January 2026.
What international providers offer
Some businesses ask about international multi currency providers. The providers we track do not confirm business accounts for companies resident in Nigeria as of 19 January 2026, so a domiciliary account at a Nigerian bank such as Guaranty Trust Bank, Access Bank, Zenith Bank, First Bank of Nigeria, or United Bank for Africa is the usual route. Verify the current position with the provider.
Questions about multi currency accounts in Nigeria
Can a Nigerian business hold foreign currency?
What is a domiciliary account?
Are there limits on foreign currency transfers?
Do international providers offer multi currency accounts to Nigerian businesses?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 19 January 2026. Confirm current terms with the provider before applying.