How to Open a Domiciliary Account at FCMB: Steps and Rates

16 October 2026 - Naira Briefing

FCMB (First City Monument Bank) serves many importers and professionals, and its domiciliary account offers a place to hold USD, GBP or EUR without an immediate naira conversion. The steps match other banks, so use this alongside our domiciliary account guide.

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What to bring

Valid ID, BVN and passport photographs.
Proof of address and the account-opening form.
Business customers add incorporation papers.

Funding and the rate

Inward transfers land in their original currency; the cost appears when you convert, and the bank rate can trail the market — see how banks price FX. For importers settling suppliers, the import route and Form M process matter alongside the dom account. Always compare the live USD rate.

Converting for a dom account? Message us — we settle naira-to-dollar both ways at a market-based rate.

Converting for a dom account?

We handle naira-to-dollar both ways at a market-based rate, cleanly.

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Related guides

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