Domiciliary Accounts in Nigeria: How to Open One and Receive USD, GBP or EUR

A domiciliary account (“dom account”) is a Nigerian bank account that holds foreign currency — usually USD, GBP or EUR — instead of naira. It lets you receive, keep and spend foreign currency without converting straight to naira, which is useful if you earn abroad, get paid in FX, or want to hold hard currency.

Cash vs transfer dom accounts

Banks often distinguish between funds that arrive by wire transfer and cash deposits, and may apply different withdrawal rules to each. Inbound international transfers are the cleanest way to fund a dom account; cash lodgements can face tighter limits.

How to open one

• Visit your bank with valid ID, BVN, passport photographs and proof of address.
• Complete the dom-account form and make the minimum opening deposit in the chosen currency.
• Link it to your existing profile so you can see it in your app.

Receiving and spending FX

Once open, you can receive salaries, freelance income or family transfers in foreign currency, hold the balance, or convert to naira when the rate suits you. Many people pair a dom account with a Form A to make overseas payments.