OPENING A BUSINESS BANK ACCOUNT IN NIGERIA

1. CERTIFICATES OF BUSINESS NAME REGISTRATION:

The first stage in this process, as stated above, is to
register a business name. I described how to register a
business name with the Business Corporate Affairs
Commission in an earlier post and in a video (CAC).
Assume you have registered your business name under
which you wish to open a bank account. After registering
your business name with CAC, you will be handed three
documents/certificates on your road to opening a
business bank account.

2. BANK VERIFICATION NUMBER (BVN):
Currently, in Nigeria, with a mandate on BVN (Bank
Verification Number), I will assume all bank account
owners should have, for the benefit of those opening an
account for the first time. BVN means Bank Verification
Number, which is a custom 11-digit personal number
issued to all bank account owners by their banking
institutions.

3. IDENTIFICATION TECHNIQUES:
To open this account, you must provide a form of identity,
as must your partners (if any). Identification documents,
such as your ID card, Voters Card, Driver’s License,
International passport, NIN certificate, etc.

4. PASSPORT PHOTOGRAPH:
You must have at least two coloured passport
photographs of yourself and your partner (if any) of any
backdrop and size, as long as your face is clearly visible.

5. TWO REFEREES:
This refers to persons (a current bank account owner in
any bank in Nigeria, but it is better to have a current
account with the bank where you wish to open the
account) who will stand up for you and your business,
proving legitimacy. They will be required to fill out and
sign a business bank account opening form.

It is required for your account to be opened. Obtaining
these referees can be difficult at times because you don’t
want everyone to know you’re establishing a firm. If you
have family and friends who possess current accounts,
you can even speak with the employees issuing the form
and work out something with them; they frequently help
get referees.

6. TIN (TAX IDENTIFICATION NUMBERS)
This is required for every registered business
establishment in Nigeria, as well as for various business
purposes and to open a business bank account.
In Nigeria, TINs are granted by the Federal Inland Revenue
Service (FIRS), which has offices all across the country,
thus you may receive a TIN anywhere in the Federation,
and the process is simple.

Glad to share the nice piece of information with you. Have these things in handy and head to any of your preferred bank and open a business account successfully.

Is your business Name not yet registered, get in touch with me today or anytime soon and I will handle all the work process of the registration for you at an affordable price.

Connect with me today, tomorrow or whenever you're ready and let's talk business.
Call or WhatsApp me on<>09035595423

Thanks for the information