Throughout the application process, you'll be asked for a series of documents to prove the validity and legitimacy of your company. These requirements help us comply with Nigerian banking regulations and protect both you and us from financial crimes. Follow the on-screen instructions in the application carefully to understand what is required for each specific document.
Here's a comprehensive guide to the documents you'll need to open an account with us, depending on your business type:
1. Corporate Current Accounts (Ltd/PLC)
Essential Company Documents
Certificate of Incorporation - Proves your company's legal existence
Memorandum and Articles of Association - Defines your business purpose and internal rules
Form C07 or CAC 2.3 (Particulars of Directors) - Lists all company directors
Form C02 (Particulars of Shareholders) - Shows ownership structure
Form CAC 1.1 (for companies registered from April 2017) - Complete registration details
Board Resolution - Authorizes account opening and appoints signatories
Identity & Verification Requirements
Valid means of identification (National ID, International Passport, or Driver's License) for all signatories and directors with 5%+ ownership
Bank Verification Number (BVN) for all signatories, directors, and beneficial owners
Proof of address for signatories, directors, and the company's registered/business address
Tax Identification Number (TIN) - Confirms tax registration
Residence Permit (for non-Nigerian directors/shareholders)
Additional Requirements
Ultimate Beneficial Owner (UBO) forms - Identifies true controllers of the company
"More About Your Business" questionnaire - Helps us understand your operations
Regulatory licenses (where applicable) - Sector-specific approvals
SCUML certificate (for designated non-financial institutions like jewelry dealers, hotels, casinos, law firms, audit firms, etc.)
2. Sole Proprietor/Business Name Accounts
Core Documents
Certificate of Business Registration - Proves business name registration
Form CA1 - Shows business promoter details
Letter of authorization - Authorizes account establishment
Identity & Verification
Valid means of identification for proprietor and all signatories
Bank Verification Number (BVN) for proprietor and signatories
Proof of address for proprietor and business location
Tax Identification Number (TIN) where applicable
Residence Permit (for non-Nigerian proprietors)
Additional Requirements
Partnership deed (if applicable)
SCUML certificate (for designated non-financial businesses)
3. Partnership Accounts
Essential Documents
Certificate of Registration - Partnership registration proof
Partnership deed - Defines partnership terms and responsibilities
Letter of authorization - Signed by partners authorizing account opening
Identity & Verification
Valid means of identification for all partners and signatories
Bank Verification Number (BVN) for all partners and signatories
Proof of address for partners and business location
Tax Identification Number (TIN)
Residence Permit (for non-Nigerian partners)
Additional Requirements
SCUML certificate (where applicable)
4. Club, Society & Association Accounts
Core Documents
Registration document (CAC registration if applicable)
Constitution of the organization - Defines purpose and structure
Society resolution - Authorizes account opening and appoints signatories
Identity & Verification
Valid means of identification for at least two trustees and all signatories
Bank Verification Number (BVN) for trustees and signatories
Proof of address for trustees and organization
Residence Permit (for non-Nigerian trustees/signatories)
Additional Requirements
Parent body registration (where applicable)
Proof of affiliation for branches
Important Notes for All Account Types
Document Verification
Original documents must be sighted by our officials where possible
Notarized copies are required when originals cannot be presented
All documents must be current and valid
Enhanced Due Diligence
Some businesses are classified as high-risk and require additional documentation:
Gaming/betting/lottery businesses
Financial institutions
Non-governmental organizations (NGOs)
Religious organizations
Businesses dealing with high-value transactions
Special Considerations
No account deferral permitted - All documentation must be complete before account activation
Foreign companies executing contracts in Nigeria have specific additional requirements
Designated Non-Financial Institutions must provide SCUML certificates
Multiple verification layers help ensure account security and regulatory compliance
Why These Documents Are Required
These comprehensive requirements serve several critical purposes:
Regulatory Compliance - Meeting Nigerian banking and anti-money laundering regulations
Fraud Prevention - Multiple verification layers protect against identity theft and unauthorized access
Risk Management - Helping us understand and appropriately manage business relationships
Legal Protection - Establishing clear authorities and responsibilities for account operations
International Standards - Compliance with global financial crime prevention standards
Need Help?
We understand that gathering all required documents can seem overwhelming. Our customer support team is here to guide you through the process and answer any questions about specific requirements for your business type.
Remember: Providing complete and accurate documentation upfront helps ensure a smooth account opening process and faster access to your banking services.
If you're unsure about any requirements or need assistance with document preparation, please don't hesitate to reach out to our customer support team. We're committed to making your business banking experience as seamless as possible while maintaining the highest standards of security and compliance.