Polaris Business Account – Current

The Polaris Business account is specially developed to allow all SMEs the opportunity to find the right business solution and platform to nurture their businesses for growth.

Product Features and Benefits
  • Account opening balance of N10,000
  • Zero minimum operating Balance
  • Access to loans
  • Dedicated Relationship Manager
  • Account maintenance fee of N1/mille applies on all debit transaction
  • Access to Internet banking, transaction alert, and e-statemen
Account Opening Documentation

Limited Liability Companies

  • Account opening form.
  • Two suitable reference
  • Board resolution to open account.
  • Two recent identical passport photographs of each signatory.
  • Certified True Copy of Certificate of Incorporation/Registration of Business Name
  • Certified True Copy of Memorandum and Article of Association.
  • Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares).
  • Residence permit issued by the immigration Authorities (Expatriates).
  • Valid Means of Identification
  • Current paid utility bill (not more than 3 months)
  • Premises visitation Report
  • Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Nonfinancial Businesses and Professionals (DNFBP)- Where applicable
  • Tax Identification Number (TIN)
  • Legal Search Report

Registered Business Names

  • Account opening application form
  • Two recent identical passport photographs of each signatory
  • Two suitable reference forms
  • Certified copy of certificate of registration of Business Name
  • Copy of Forms for application for Registration of Business Name
  • Legal Search report
  • Valid Means of Identification
  • Current paid utility bill (not more than 3 months)
  • Residence permit issued by the immigration Authorities (Expatriates).
  • Premises visitation report

Registered Trustees/Associations/Societies/Clubs and Other Non-Profit making Organizations (NGOs)

  • Account Opening application form
  • Two suitable references
  • Two recent identical passport photographs of all signatories
  • Valid Means of Identification
  • Copy of the constitution
  • Copy of Rules and Regulations/Bye Laws (where applicable)
  • Resident permit issued by the Immigration Authorities (Expatriates)
  • Copy of Certificate of Registration.
  • Letter of Resolution by the Board of Trustees to open account or Copy of recently adopted minutes of meeting
  • Premises visitation report
  • Power of Attorney (where applicable)
  • Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Nonfinancial Businesses and Professionals (DNFBP)- Where applicable

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