To open a business account in Nigeria you generally provide the Corporate Affairs Commission registration document, identification and a Bank Verification Number for owners or directors, a recent utility bill, and a tax identification. A limited company also provides its incorporation certificate, memorandum and articles, a status report, and a board resolution. Some sectors need a SCUML certificate. Figures here are as of 4 February 2026.
- Business name
- Registration certificate, owner identification and Bank Verification Number, utility bill, tax identification
- Limited company
- Adds incorporation certificate, memorandum and articles, status report, and board resolution
- Tax identification
- Now issued automatically on incorporation through the Nigeria Revenue Service integration
- Sector certificate
- A SCUML certificate is required in certain designated sectors
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Requirements and documents for a business account in Nigeria
The exact list depends on whether you registered a business name or a limited company, and on the bank. For a registered business name you generally need the Corporate Affairs Commission certificate, valid identification and a Bank Verification Number for the owner, a recent utility bill for the business address, and the tax identification. As of 4 February 2026, confirm the current list with the provider.
Limited companies
A private limited company generally also needs its certificate of incorporation, the memorandum and articles of association, a status report, and a board resolution authorising the account and naming the signatories, with valid identification and Bank Verification Numbers for all directors and signatories. A Tax Identification Number is now issued automatically when incorporation is approved, through the Corporate Affairs Commission integration with the Nigeria Revenue Service. As of 4 February 2026.
Sector certificates and common problems
Businesses in certain designated sectors, such as real estate, dealerships, luxury goods, and some consulting categories, need a SCUML certificate from the Special Control Unit Against Money Laundering. Applications are commonly delayed by outdated registration documents, a name mismatch between records and identification, an incomplete board resolution, overdue annual returns, or an old or personal utility bill. As of 4 February 2026, confirm the current requirements with the bank before you apply.
Questions about business account requirements in Nigeria
What documents do I need to open a business account in Nigeria?
Do all directors need a Bank Verification Number?
What is a SCUML certificate?
Why might documents be rejected?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 4 February 2026. Confirm current terms with the provider before applying.