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 21 June 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 21 June 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 21 June 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 Applications are commonly delayed by outdated registration documents, a name mismatch between records and identification, an incomplete board resolution, overdue annual returns, or an old or personal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 21 June 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 21 June 2026. Confirm current terms with the provider before applying.