Demand deposit account (DDA) for Corporate Organisations businesses in which funds deposited are payable on demand either in person or by presentation of a cheque by third party, bank draft, direct debit, electronic fund transfers
Features
- Opening balance of N50,000
- Zero minimum operating balance
Benefits
- Access to credit facilities
- Lodgement of cheques and dividend warrants
- It allows the use of a cheque book
- Access to internet banking
Eligibility
- Private Limited Liability companies
- Public Quoted companies
- Multinational companies
Documentation Requirements
- Duly completed account opening form
- Identification of Signatory – International Passport, National Driver’s License, National ID, Voters card
- Two passport photographs of each signatory to account
- Two corporate reference forms in the name of the company
- Utility bills (any month in the preceding 3 months)16
- Form CAC 2.5 (formerly CO7-Particulars of directors) certified as true copy by
- Registrars of the Company within the preceding three months to account opening date
- Form CAC 2.3 (formerly CO2-statement of return on allotment of shares)
- Certified as true copy by Registrars of the Company within the preceding three months to account opening date
- Certified True Copies of board of directors resolution to open account
- Authority to debit account for legal search on CAC registration