Who is eligible for opening domestic deposit accounts?
September 12, 2020
|By Web Admin
The followings are eligible to maintain a local currency account:
- Individuals — either for themselves or for the earmarked type of account;
- Individual traders (sole proprietorship);
- Private Limited Companies (PLCs);
- Cooperatives, Unions, Associations, ‘Idirs’, ‘Iqubs’. SMEs and clubs;
- Financial Institutions (Banks, Micro Finance Institutions, Insurance companies, etc.);
- Organizations legally incorporated in the form of partnership, share company etc;
- Federal, regional state governments and their parietals and city administrations:
- Public and private learning institutions;
- International/foreign organizations;
- Nongovernmental organizations (NGO’S) – local or foreign;
- Public enterprises;
- Religious organizations;
- Joint ventures;
- Any other legal entity that can produce a legal document or letter from the concerned authorities can be eligible to open an account.