Top 10 Best Banks To Open Business Account In Nigeria (2023)

This article is about the top 10 best banks to open business account in Nigeria currently in this year 2023. The majority of businesses are required to set up a business account due to the numerous advantages it offers. Business accounts assist with tax planning, separating commercial and personal expenses, and legally establishing the financial existence of your firm. In addition, they provide integrated business tools, interest-earning capabilities, and online or mobile banking. With that in mind, the leading banks in Nigeria to open business account with are discussed below.

Top 10 Highest Paying Banks In Nigeria


The following are the 10 best and most popular banks to open business account in Nigeria this 2023:


Zenith Bank PLC is one of the leading commercial banks in Nigeria, as well as one of the best banks to open a business account in the country today. This bank is well known for assisting several businesses and organizations in achieving their goals and boosting revenue. For organizations and other enterprises, Zenith Bank provides specialized business accounts. This account is simple to set up and use, and it can handle all of your typical company transactions. Opening a Zenith Business Account requires a starting balance of ₦5,000. If necessary, you will be provided an ATM card, and you can also use internet banking to access the account.


Access Bank is a well-known financial institution that offers services to businesses. Due to their excellent services, they are among the highest paying banks in Nigeria, and they rank highly for opening a business account in the country. The Access Bank Gold Current Account is the perfect choice for small businesses and sole proprietors who require a straightforward business account to handle daily operations. The opening balance for this account must be at least ₦5,000. Once online banking is set up, you will have unfettered access to it, be able to withdraw an unlimited amount of money, earn interest on your account balance, a get a free cheque book.


Guaranty Trust Bank is another excellent commercial bank where you can open a business account. Corporate banking, resource management, business banking, retail banking, and online banking are a few of the services it provides. It is a huge, international financial institution. The GTB Business Account, GTBank Current Account, GTBank Domiciliary Account, and GTMax Account are the business accounts that Guaranty Trust Bank provides. The bank also provides a wide range of services for businesses, including internet banking, business banking, SME banking, and many others.


Among the top banks in Nigeria right now for opening a business account is United Bank for Africa (UBA). UBA makes thi list due of its corporate banking services for both domestic and foreign-owned enterprises. Among the company’s business accounts are the UBA Professional Account (for experts and independent contractors), Regular UBA Current Account, Self-Employed Current Account, and Expatriate/Diaspora Accounts (for foreigners). You are also eligible for additional bonuses and advantages if you hold a business account with UBA.


First Bank of Nigeria is one of the top banks in Nigeria today and the country’s oldest commercial bank. Additionally, it is reliable if you wish to open a business account. The bank has an active business banking section that can help corporate clients learn more about the services that are available to them as part of their business partnership. The First Bank Corporate Current Account should work for the majority of small businesses in Nigeria due to its low cost and broad application. A First Bank Corporate Current account can be opened with only ₦10,000 and has no operational balance requirements or withdrawal limits. You will get a free checkbook and have access to business loans with this account.


You can get a digital ledger for yourself or your business with a Wema Bank business account without going to the bank’s actual location. For enterprises and organizations, Wema Bank offers a variety of advantages with bank accounts. Corporate Account, My Business Account, My Business Account Plus, Wema Treasure Account Business, Domiciliary Plus Account, and Alat by Wema (Business) are a few of their business accounts that you can choose from. Through their SME banking programme, the bank also interacts with its business clients to better serve them well.


Standard Chartered Bank Nigeria provides one of the most comprehensive corporate and business banking solutions to its customers. Customers can choose from a variety of options for business accounts. The Business Essential Account, a premium corporate account, is provided by Standard Chartered Bank to Nigerian small and medium-sized business owners. There are no account maintenance fees with this account, making it appropriate for business financing. As long as you keep your account balance at a minimum of ₦100,000, all transactions are free.


Stanbic IBTC Bank is among Nigeria’s banks with the best business policies. Its Biz Smart Account, which is well-known, is one of the best banking solutions for small businesses in Nigeria. A beginning balance of at least ₦5,000 is required in order to open this account. With the Stanbic IBTC Biz Smart account, you can get digital banking and business help around-the-clock, avoid paying account fees, and earn interest on your account balance.


The Fidelity Bank Small Business Account is a corporate account designed specifically for Nigerian small businesses. A minimum initial balance of 10,000 Naira is required for this business account, and this amount will also function as your minimum operational balance. The account has no account maintenance fees, no monthly fees, permits unrestricted withdrawals, and is entirely eligible for small company financing and consulting services.


Keystone Bank Limited also makes this list of best banks in Nigeria to open a business account. Along with large enterprises, they provide commercial and financial services to small businesses, SMEs, and individuals. Keystone Bank Limited, one of Nigeria’s leading financial service providers, was formed through the merger of a number of commercial banks.

The Author

Maduawuchi Obialo

Maduawuchi Obialo is the founder of Nigerian Guide and the Editor-in-Chief at Nigerian Infopedia. He is a professional Web Content Developer and a Biochemist.

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