Beginners Guide On How To Open A Business Bank Account In Nigeria

As a business man or woman, one of the best way to make your business Genius is By Having a Bank Account For Your Business, That is Why Today I am Going To Be Showing You How To Open A Business Bank Account In Nigeria.

When you have your own personal bank account for you business it will make your business professional.

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I must tell you that before you can even think of opening A Bank Account For Your Business , You need to register your company with Cooperate Affairs.

How To Register Your Business Name?

When it comes to registering of a business name, you need a business to present before you can think of registering that particular business, When you register you business, you make your business look professional in the eyes of people that are doing business with you.

In other to register your business, you need your TIN number And with that you can easily register your business, and to register you business you need to register the business using CAC (Cooperate Affairs Commission).

Go to CAC website And Fill the necessary information to register Your Business.

Now we are done on how to register your business, next thing now is How To Open A Business Bank Account In Nigeria.

Before you can open a business bank account you need some of this requirements.

How To Open A Business Bank Account In Nigeria And The Basic Requirements

How To Open A Business Bank Account In Nigeria

You need all this before You can Be Able To Open a Business Account.

1: Business Name Registration Certificate ( CAC)

This business name certificate is the certificate Given to you when you registered your business and this business name can be either cooperate Affair Certificate, that is the certificate you need to present to bank before they can be able to open account with the business name.

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2: Means Of Identification

This means of identification is very necessary, you need it in other to open a business Bank Account in Nigeria And this means of identification can be a government issued card like Voters card, Drivers License, National I’d Card and Rest.

3: BVN (Bank Verification Number)

This is one of the best thing you need to present to the bank in other for bank to open a business account for you.
You need to present Bvn Number from your other bank and you cac certificate, with that they will be able to open a business account for your business.

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4: photograph Passport

You need a passport photograph, you need at least Two Passport with a white background, that will serve as one of the means of identification.

5: Two Referees

You need nothing less than two referees to open a business bank Account, the two referees must not be a salary earners, they must be a current account holder.

And their current account must have been in existence for 6month, the major challenges now is getting the two referees is very hard but you can choose to use any of your close relatives or family member that have current account to sign for you.

These are The Necessary information needed to open your business Account.

Since You have Know The requirements needed to open a business bank Account in Nigeria, next thing is how Much to open such account.

How Much Needed To Open A Business Bank Account in Nigeria.

You can open this account for free but due to ATM card or cheque Book, you need just 10,000 naira to open such account and the 10,000 is still your money, The Reason Behind This money is that, you need 1000 naira for your ATM Master card or your cheque Book.

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How To Open A Business Bank Account In Gtbank


When you make sure you have the necessary information needed as mentioned above, Go to any Gtbank Branch and pick account opening form and your 10,000 naira, Fill the form And submit the necessary information and you are done with your account opening.

When filing the information, make sure you fill all your information correct in other not to have problem in the future to come.

Benefits Of Opening A Business Account In Nigeria

We have many benefits Attached To This and some Of The Benefits are Listed Below;

It make Your Business Professional.

It encourages More Savings.

It Helps In Monitoring Your Income.

It makes You Become Boss On Your Own.

It make Your Business Professional

When you have business bank account, it will make your business unique and people that are doing business with you will know that you are serious towards your business and at last it makes your business professional, when Your business is professional people will patronize you more, That is One of the benefits of having your personal Business bank Account as a business man or woman

It encourages More Savings.

Owning a business bank account of your own will give you ability and zeal to save more because you can be able to save your profit and strategies on how to make more profit every month.

It Helps In Monitoring Your Income

Since you have a separate bank account for your business and have your personal bank account, it will help you to monitor the income you make from your business, to know if you are making profit or not.


Above write up is all you need when it comes to opening of this account, you need to read and follow the steps and guidelines in other for you to be able to open a business Bank account in Nigeria.

Note: Make sure you fill your correct information when you go to the bank to open your business account, when you fill your correct information you will not have problem to face.

One Of The Benefits Of Owning your own Business is To Make provisions For Savings and reinvesting in another business in other to make more money

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