Setting up a corporate account is one of the first and most crucial steps for businesses looking to establish their presence and operate effectively. As a business, this ensures your financial transactions are seamless, secure, and strategically aligned with your business goals.
To get started, it’s important to have a clear understanding of the necessary documentation and compliance requirements.
Here is a comprehensive corporate account checklist tailored for businesses in Nigeria
UBA Corporate Account Checklist (Nigeria)
Here’s a step-by-step checklist of the requirements you need to open a corporate account with UBA in Nigeria
Company Legal Documents
Ensure the following are ready and up to date:
- Certificate of Incorporation (CAC Certificate)
- Form C02 and C07 (Particulars of Directors and Shareholders)
- Memorandum and Articles of Association (MEMART)
- Business Name Registration Certificate (for enterprise-type accounts)
Board Resolution (for Limited Liability Companies)
A signed board resolution on company letterhead authorising the opening of the account and appointing signatories is required. It should be dated, signed by the company secretary or a director and sealed with the company seal.
Means of Identification
Provide valid identification documents for all directors and signatories, such as:
- International Passport
- National ID Card
- Driver’s Licence
- Voter Card
Recent Passport Photographs
Each signatory should provide one or two recent passport-sized photos.
Utility Bill or Proof of Company Address
Submit a utility bill (electricity, water, or waste bill) dated within the last three months or a tenement rate receipt to verify your office location.
Tax Identification Number (TIN) & Tax Clearance
- A valid TIN certificate issued by the Federal Inland Revenue Service (FIRS).
- Some account types may require a Tax Clearance Certificate (TCC) for the last financial year.
BVN of Signatories
All signatories must have a Bank Verification Number (BVN). If any signatory is not yet enrolled, they can do so at any UBA branch.
Corporate Account Opening Form
Fill out the official UBA Corporate Account Opening Form.
Optional But Recommended
Depending on your business model or account type, you may also consider:
- SCUML Certificate (for Designated Non-Financial Institutions like law firms, supermarkets, NGOs, etc.)
- NAFDAC or SON Certification (for businesses involved in manufacturing, food, cosmetics, or chemicals)
- Exporter/Importer Code (for businesses engaged in international trade)
How UBA Supports Your Business Beyond Account Opening
Opening your account is just the beginning. UBA offers a robust ecosystem to support your business growth:
- UBA Business Debit Cards: For global payments and purchases.
- Trade Services: Letters of credit, import/export finance, and FX services.
- Loans and Overdrafts: Tailored facilities to boost working capital or fund expansion.
- UBA SME Banking: Special solutions for small and growing businesses, including workshops, advisory services and other business solutions.
Your journey to building a trusted and scalable business starts with the right financial partner, and UBA is ready to grow with you.
For more enquiries, visit any UBA business office near you, contact our 24/7 Customer Fulfilment Centre (CFC) on +234 02-012808822 or +234 02-012808800, send an email to cfc@ubagroup.com or go to www.ubagroup.com.
