How to Open a Business Domiciliary Account in Nigeria: A Guide
13 October 2026 - Naira BriefingA business domiciliary account lets a company receive, hold and pay out foreign currency — essential for importers, exporters and anyone invoicing abroad. It works like a personal dom account but is opened in the company’s name, with corporate documents, and it is central to clean trade. Pair this with our domiciliary account guide.
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What a company needs
- Incorporation documents — certificate, memart and board resolution.
- Directors’ IDs and BVNs — see why the BVN matters.
- Proof of business address and the account mandate.
Why it matters for trade
Exporters receive dollar proceeds into it; importers pay suppliers from it, alongside their Form M and letters of credit. The account does not set the FX rate, though — conversions still do, so compare the live USD rate and consider whether FX forwards can lock a rate for larger commitments.
Opening or funding a business dom account? Message us — we convert both ways at a market-based rate, documented.
Running a business dom account?
We convert naira and dollars both ways at a market-based rate, documented.
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