Domiciliary Account is easy to open in Nigeria but when you fail to provide the requirements needed for Bank account opening it becomes difficult for you. In Nigeria mostly all the bank across the federation operates a Domiciliary Account in which foreign currencies will be exchange at a given rate for naira. To open such an dollar account you need to be very careful about it.
Here, I will enlighten interested Nigerian citizen who might need to open Domiciliary Account in any bank of their choice in Nigeria and the processes involved. Don’t be scared is very easy to open just meet up with the requirements needed.
It takes less than two days to have an active domiciliary account after verification with any bank in Nigeria
Bear in mind Dollar account is not like other account, example, Savings account, where you can use your utility bill or school identification cards to open, no you must have a well valid means of identification which includes;
- National ID card
- National Driver’s License
- International Passport
- INEC Voters card
The above listed documents must be provided at any Nigerian banks of you chose to open a dollar account in original copy of it not that.
Before opening a Dollar Account in any bank, chose a banks in urban area where you can be paid in dollar not in naira.
Recognize Banks to open a Domiciliary Account in Nigeria
- First Bank of Nigeria
- Fidelity Bank Plc
- Zenith Bank
- Guaranty Trust Bank (GTB)
- Diamond Bank
- Keystone Bank
- United Bank of Africa (UBA)
- Skye Bank
- Access Bank
- First City Monument Bank
- Sterling Bank
- Union Bank of Nigeria
The above listed bank offers a domiciliary account for US Dollars and British Pounds. Some of the listed banks also have a faster system of sending and receiving money in the domiciliary account.
Documents required opening Domiciliary Account (Dollar & British Pounds)
Duly completed Account opening form which can be obtain in any above listed banks of your choice
- Specimen Signature Card duly completed without alteration
- One (1) recent passport Photograph
- Two (2) independent and satisfied references required
- Proof of Identity: National ID card, National Driver’s License, International Passport, INEC Voters card
- Proof of Address: Utility bills, etc (Certified true is acceptable if original is not held)
- Letter from employer (for salary account only)
- Resident permit (for non-Nigeria)
- Other document provided
Domiciliary Account is very easy to open but some banks in Nigeria might require a deposit of $100 – $300 before it can be activated.
Thanks, hope you find it interesting, don’t hesitate to ask us question.