A non resident usually banks in Nigeria through a Nigerian registered company rather than as an individual. Foreigners can own a company, subject to registration with the Nigerian Investment Promotion Commission, but a foreign national generally cannot be a signatory without a valid residence permit, so a resident signatory is often appointed. Figures here are as of 26 January 2026.
- Usual route
- Register a Nigerian company and open the account in the company name
- Signatory rule
- A foreign national generally needs a residence permit known as CERPAC to be a signatory
- Identification
- A Bank Verification Number is required; non residents can enrol at centres abroad
- Bringing in capital
- Through an authorised dealer bank that issues a Certificate of Capital Importation
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Non resident business banking in Nigeria
Nigeria does not generally offer remote business accounts to non residents in the way some other markets do. The usual route is to register a company with the Corporate Affairs Commission and open the account in the company name. Foreigners can own a Nigerian company, subject to registration with the Nigerian Investment Promotion Commission and a small number of sector restrictions, and companies with foreign participation face minimum capital requirements. As of 26 January 2026, confirm the current rules with a qualified adviser and the bank.
Signatories and identification
A foreign national generally cannot be a signatory to a Nigerian business account without a valid residence permit known as CERPAC. Where all directors are abroad, companies often appoint a Nigerian resident as signatory through a board resolution. A Bank Verification Number is required for signatories, and non resident applicants can enrol at designated enrolment centres located in various countries. As of 26 January 2026, verify the process with the bank.
Bringing in capital
Foreign capital usually enters Nigeria through a Central Bank of Nigeria authorised dealer bank, which issues a Certificate of Capital Importation as evidence of the inflow. That certificate supports later repatriation of capital, dividends, and profits. These rules change, so confirm the current process and charges with the bank before you rely on them. As of 26 January 2026.
Questions about non resident banking in Nigeria
Can a non resident open a business account in Nigeria?
Do I need a residence permit to be a signatory?
Can a foreign owner get a Bank Verification Number?
How does a foreign company bring in capital?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 26 January 2026. Confirm current terms with the provider before applying.