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

13 October 2026 - Naira Briefing

FirstBank is one of Nigeria’s oldest banks and its domiciliary account is a common way to hold USD, GBP or EUR. If you earn or spend in foreign currency, a dom account keeps those funds in hard currency rather than forcing an immediate conversion — see our broader domiciliary account guide for the full picture.

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Documents and steps

Valid photo ID, BVN and passport photographs.
Proof of address and a completed account-opening form.
Visit a branch or start online where FirstBank supports it.

The rate still decides

Holding dollars is only half the story — the moment you convert naira in or take naira out, the bank’s FX rate applies, and that can sit well below the market. Read how banks price FX to see how the margin is built, and check the live USD to Naira rate so you know what a fair conversion looks like.

Need a better conversion than the counter rate? Message us — we settle naira-to-dollar both directions at a market-based rate.

Converting for a dom account?

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

Get a rate See the live USD rate

Related guides

Tools to take this further

Savings & dollar-hedge calculator

Keeping savings in naira versus converting to dollars over time.

Dollar-cost-averaging calculator

Spread naira-to-dollar conversions and smooth the average rate.

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