How to Open a Business Account in Nigeria After CAC Registration

That Moment You Know It Is Real

The day my business account became active, I stepped outside the bank and just stood there. It felt like my dream had finally found a home.

Hauwa, founder of a courier service in Lugbe

Registering your business with CAC is a big step, but for many entrepreneurs, things do not truly feel real until that bank account is open. There is something about seeing your business name on an account statement that gives you a new kind of confidence.

Opening a business account is not just a financial task. It is an emotional milestone. It tells the world, and it tells you, that your idea is now something official, something recognized.

Choosing a Bank That Understands You

Every entrepreneur has a different story. Some of us want to walk into a branch and speak with someone face to face. Others just want the convenience of doing everything on their phone while sitting in traffic at Berger Junction.

Traditional banks like GTBank, Zenith, Access, and First Bank are still very present across Abuja. They are trusted, with long histories and familiar buildings. But digital banks have entered the scene with fresh energy. Moniepoint, ALAT, Kuda, VBank, and others are making life easier, especially for small businesses that need flexibility and speed.

The most important thing is to ask yourself what you need. If you are planning to receive payments daily from different customers, then transaction fees might matter more than anything else. If you will need loans or POS services later, you should ask the bank about that upfront.

What You Need To Bring

Hauwa, who started a delivery service during the lockdown, had to visit the bank three times before she got it right. Here is what she wished someone had told her from the beginning:

• Your CAC certificate. This is your proof that the business exists.

• The CAC registration forms that show your directors and shareholding.

• Your Memorandum and Articles of Association if your business is registered as a limited company.

• A valid ID such as your voter’s card, international passport, or national ID.

• A utility bill that is not older than three months. This can be a NEPA bill, a rent receipt, or anything with your address on it.

• One or two passport photographs, just in case.

• A BVN for the person signing the account.

Some banks may help you apply for a Tax Identification Number on the spot, while others will ask you to come with it. Always call ahead or check their website before you go.

Digital Banks That Save You Time

If the idea of visiting a bank gives you stress, there is good news. Many Nigerians are now opening business accounts right from their phones. These are some of the most loved digital banks among Abuja business owners:

Moniepoint is very popular with small shops and vendors. It is fast, reliable, and provides POS support for people who need to receive cash payments.

ALAT by Wema has a business version that is designed for SMEs. You can open your account, upload your documents, and begin operations without stepping into any branch.

Kuda Business is user-friendly and helps you manage invoices, payments, and taxes all from one place.

VBank feels modern and fresh. Its mobile experience is smooth, and the onboarding process is simple for new users.

What they all have in common is speed and ease. Many of them approve accounts within 24 hours.

A Few Things Nobody Tells You

One of the first surprises new business owners face is seeing their registered business name exactly as it appears on their CAC certificate. This means if your name has a dot or extra spacing, that is what shows up on the bank account too. Pay attention when registering your name with CAC.

Another thing is that many people forget to ask about hidden charges. Even digital banks sometimes introduce fees after some time. Always read the fine print or ask directly what the charges are.

If your business has more than one director, you may need to write a short letter called a board resolution. Some banks will help you create this at the branch. Others will expect you to bring it yourself.

When It All Comes Together

That first alert you get on your business account is unforgettable. Whether it is five thousand naira from your first customer or fifty thousand from a friend who believes in your hustle, it does something to your heart.

It reminds you that your business is not just an idea anymore. It is something real. Something working.

So when you step into that bank or sign up online, carry more than your documents. Carry your vision. Carry your story. And walk in knowing that you are building something that matters.