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Opening a bank account in Nigeria

Hi all,

is it difficult for expats to open a bank account in Nigeria ?

Which documents are required to open a bank account in Nigeria ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance)  ?

Which bank would you recommend ?

Thanks in advance for your participation,


Hi Julien

I use Zenith Bank.

yes it is difficult lots of forms and fees to pay

hi sir,i want to know if i need to pay 300 usdollar to open an private account over there in nigeria???pls help me to know it..thank you very much sir...and also i want to know what was the documents i need...i would like to know about the nigeria banking system,and i would like to know how to transfer the money over there in nigeria going here in the phillippines??

Last edited by babyemart (15 December 2012 17:40:50)

I would recommend GT Bank - they made the process so easy.  Usually, you can get your work to organise someone from the bank to come into your office with the relevant forms. In terms of paperwork you'll need to show your TWP, passport and sometimes they might ask for a couple of references from people who also bank with them (I got a couple of people from work to act as references) try to get everything set up at once e.g. Internet banking and foreign Dom accounts. Not sure about loans - I'd generally say no though. The process didn't take too long (less than a week) I've also heard that Standard Chartered are quite good.
Hope this helps

Thank you for your help Sarah! :)


Hi Sarah,

Thanks for the info on a bank account. I am arriving shortly in Lagos and will be based around Ikoyi/Leki area.



Opening a bank account in Nigeria isn't complex as long as all the required documentation is provided. The requirements vary depending on the type of bank account the expat is considering.

Generally, a non-Nigerian must provide a copy of Passport and TWP or Work/Resident Permit depending on his mission in Nigeria and the type of account.

If the expat has been hired by a Nigerian company, the company will provide support for the bank account opening with a TWP. However, an expat who wants to open a business account with his newly formed Nigerian company must provide a Residence Permit and a Nigerian address.

Initial opening fees vary from bank to bank; and to account type.

Last edited by aybanky (10 August 2014 23:45:09)

Hi aybanky - thank you for sharing information :)

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