- Minimum opening and operating balance of #250,000
- Monthly Debit turnover limit of 50 million.
- Exempted from Account maintenance charge subject to min daily operating balance & max debit turnover requirement
- Interest of 1% p. a is paid on account balance subject to a maximum of four withdrawals monthly
Benefits to Customers
- Allows customers to have debit turnovers of up to 50 million with no account maintenance charge and earn interest.
- Access to SME capacity building programs
- Access to free business advisory program bi-annually
- Tax advisory and Business tools available (T’s & C’s Apply)
- Duly completed account opening form including signature mandate card
- Business/Company registration documents (e.g. Partnership agreement, business name registration certificate, certificate of incorporation; as applicable to business type)
- Copy of National ID card, Driver’s License, Voters ID or International Passport
- 1 passport photograph of each signatory
- BVN of signatories, Directors and Beneficial owners
- Copy of utility bill (Water, electricity or telephone) issued within the last three months.
- Two references
- MyBusiness Account Agreement Form
- Memorandum and articles of association; copy of forms CO2 & CO7
- Resolution of the board of directors to open account (where applicable)
- Evidence of registration with Special Control Unit on Money Laundering of the Federal Ministry and Trade Investment (where applicable)
- Provision of Tax Identification Number (TIN)
- Search Report