Many Nigerians relocate and forget about their accounts back home until they need them. Then the problems start: the account has become dormant, the old phone number linked to it is no longer active, the token has expired, or the account is restricted because BVN or NIN details weren’t updated. Fixing these issues from abroad can take weeks.
Here’s how to keep your Nigerian accounts active and accessible.
Why Keep Your Nigerian Accounts?
- Sending money to family quickly
- Paying bills, school fees and building costs
- Receiving rent or business income
- Investing in Nigerian stocks, bonds or funds
- Convenience when visiting home
Understand Dormancy Rules
Nigerian banks classify accounts as inactive or dormant after a period without customer-initiated transactions. Dormant accounts can be restricted, and reactivating them may require documents and, sometimes, a branch visit. Unclaimed balances in long-dormant accounts may eventually be transferred under central bank rules.
Tip: Make at least one small transaction, such as a transfer or bill payment, every few months.
Link Your BVN and NIN
Nigerian regulations require bank accounts to be linked to your Bank Verification Number (BVN), and banks have also been required to link accounts to National Identification Numbers (NIN). Accounts without proper identification can face restrictions on transactions.
If you don’t have a NIN, Nigerians abroad can enrol through approved diaspora enrolment centres. The National Identity Management Commission (NIMC) provides information on enrolment options and requirements.
Update Your Phone Number
Many Nigerians lose access to online banking because the account is linked to a Nigerian SIM that’s no longer active. Options include:
- Keeping your Nigerian SIM active with international roaming or regular top-ups
- Asking your bank whether you can link a foreign number
- Using app-based authentication instead of SMS where available
Update your details before you relocate if possible.
Set Up Internet and Mobile Banking
Activate your bank’s mobile app, internet banking and any hardware or software tokens before leaving Nigeria. Test them to make sure everything works. Some banks offer diaspora desks or dedicated relationship managers.
Update Your Contact Details
Give your bank your current email address and foreign residential address. This ensures you receive statements, alerts and important notices.
Protect Your Account From Fraud
Accounts of people living abroad are sometimes targeted because owners don’t check them regularly. Protect yourself:
- Turn on transaction alerts by email or app
- Never share your PIN, OTP or login details, even with family
- Check statements monthly
- Report suspicious transactions immediately
Be Careful With Family Access
Giving a relative your ATM card or login details is risky. Even trusted people can make mistakes, and fraud committed through your account is your problem. Consider opening a separate account for family support or using direct transfers instead.
Keep Documents Ready
For reactivation or updates, banks may ask for a valid passport, recent photograph, utility bill, reference letters or signed forms. Keep scanned copies and ask your bank which documents can be submitted remotely.
Consider a Domiciliary Account
If you regularly move foreign currency to Nigeria, a domiciliary account can give you more control over conversion timing.
Plan for Emergencies
Consider giving a trusted person a formal, limited mandate or power of attorney for specific transactions rather than sharing your login details. Your bank can explain what arrangements it accepts.
Review Your Accounts Once a Year
Set a yearly reminder to review all your Nigerian accounts. Close any you no longer need, confirm contact details, check fees and update your identification documents if your passport has been renewed.
Final Thoughts
Your Nigerian accounts are valuable tools for supporting family and investing at home. Keep them active, link your BVN and NIN, update your contact details and protect them from fraud. A little maintenance now saves major headaches later.