How to Close a Bank Account in Nigeria

Closing a bank account in Nigeria is usually possible by contacting the bank and completing its account-closure requirements. The exact procedure can differ depending on the bank, account type and whether there are outstanding transactions or obligations on the account.

Before Closing Your Bank Account

Check your balance and move any remaining money to another account before requesting closure. It is also important to allow pending transfers, card payments, direct debits or other transactions to clear where applicable.

How to Close a Bank Account

1. Contact your bank through its official customer service channel or visit a branch.
2. Tell the bank that you want to close the account.
3. Complete the account-closure form or other required request.
4. Provide the identification and account information requested.
5. Return or deactivate banking instruments when required, such as a debit card or cheque book.
6. Settle any outstanding charges or obligations connected to the account.
7. Ask the bank to confirm that the account has been closed.

Can You Close a Bank Account Online?

Some banks may provide digital options for account management, but online closure is not available for every account or situation. You may be required to contact customer service or visit a branch for identity verification and documentation.

What You May Need

What Happens to the Money in the Account?

Any remaining balance should be dealt with according to the bank’s account-closure procedure. Depending on the bank, you may be able to transfer the funds to another account or receive them through an approved method.

What If the Account Has a Negative Balance?

The bank may require outstanding charges, overdrafts or other obligations to be settled before the account can be closed. Ask the bank for the exact amount outstanding and the approved payment method.

Keep Proof of Closure

After requesting closure, keep any confirmation, receipt or reference provided by the bank. This can be useful if you later need to prove that the account was closed.

If you are closing an account because you no longer use it, first check for subscriptions, salary payments, transfers or other services still connected to the account and update them before closure.