AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
To close a Nigerian bank account from abroad, move the balance to an account in your own name, clear any loan, card or standing order, then send the bank a signed closure request with ID through its official channel; FirstBank publishes a diaspora closure form. The CBN's Guide to Charges lists account closure as waived, so there should be no closure fee.
Before you ask to close
Closing is the easy part. The work is in making sure nothing is still tied to the account.
- Download statements for the whole period you may need, for tax, visa or property records. Once closed, getting them is harder.
- Move the balance to another account in your name, in Nigeria or abroad.
- Cancel standing orders, direct debits and subscriptions paid from the account.
- Clear any loan, overdraft or card balance. A bank will not close an account with debt on it.
- Update anyone who pays into it: tenants, a pension administrator, an employer, family.
- Check whether the account is your BVN's main link for anything else; your BVN stays valid after closure.
Moving the money out
For a naira account, a transfer to another Nigerian account in your own name is simplest. Moving naira out of Nigeria is a separate question with its own rules; see repatriating naira savings after moving abroad. For a domiciliary account, Pavestones' summary of the CBN's 2026 FX Manual says holders of self-funded domiciliary accounts can send transfers of up to US$10,000 a day without Form A, so a larger balance may need several days or the bank's guidance.
The closure request
Banks want a written, signed instruction they can match to your record. Check what your bank publishes:
- FirstBank lists both an Account Closure Request form and an Account Closure Form (Diaspora) on its download page.
- Access Bank's Account Management Request Form covers Account Closure, asking for a reason and ID, and accepts a passport with visa or notarised permit for diaspora customers. The same form lists a Letter of Non-Indebtedness, which is worth requesting if you may later need proof that you owed the bank nothing.
A good request includes your full name as on the account, account number, a clear instruction to close, the account to which any final balance should go, a copy of your passport data page, and a signature that matches the bank's specimen. Send it through the email or portal on the bank's own website and keep the reference.
Identity verification
Expect the bank to check the signature and ID against its records, and possibly to call you or ask for a video verification. If your signature has changed over the years, mention it; a mismatch is the most common reason a remote closure stalls. Some banks ask for notarised documents from customers abroad, as GTBank does for its non-resident service requests.
Fees and timing
The CBN's Guide to Charges (effective 1 January 2020) lists account closure as waived. Card maintenance or SMS charges up to the closure date may still be deducted. None of the bank pages above states how long closure takes, so ask for a date and confirmation in writing.
A worked example
Example: Bola in Toronto has a naira savings account she no longer uses, with ₦180,000 in it and a monthly transfer to her mother. She first sets up the monthly transfer from another account, moves the ₦180,000 to that account, downloads two years of statements, then emails the bank's diaspora form and her passport page. The bank confirms closure in writing and she files the confirmation with the statements.
Joint and business accounts
A joint account usually needs every account holder to sign the closure instruction, unless the mandate says otherwise; ask the bank to confirm the mandate before you send anything. If the other holder is a parent in Nigeria, they may be able to sign at a branch while you sign remotely. A business or company account is closed on the authority of the business, which for a limited company normally means a board resolution and the signatories named in the mandate. Settle what happens to the company's remaining money and records first, and keep the bank's final statement with the company's books.
Closing versus keeping
If you might move back, receive rent, or need a naira account for family, a dormant account is a worse outcome than either keeping it active or closing it cleanly. Weigh up whether one well-run naira account would replace several neglected ones.
Where Pryme fits
If you are closing old accounts but still need to receive and hold naira, a Pryme multicurrency account gives naira details alongside pound, dollar and euro details, and can be opened from abroad. Naira deposits are held by a licensed Nigerian microfinance bank and insured by the NDIC up to the applicable limit. Send shows the rate and fee before you approve, and statements can be generated through VerifyDoc.ai for your records.
Questions people ask
Can I close my Nigerian bank account without going to the branch?
Often yes. FirstBank publishes a diaspora closure form and Access Bank's account management form covers closure. Ask your bank which remote channel it accepts.
Is there a fee to close a bank account in Nigeria?
The CBN's Guide to Charges lists account closure as waived. Outstanding charges up to closure may still apply.
What happens to my BVN if I close my account?
Your BVN stays valid; it belongs to you, not to the account.
Can a bank close an account with money still in it?
Move the balance first. If anything remains, tell the bank in writing which account in your name should receive it.
Sources
- CBN: Guide to Charges by Banks, Other Financial and Non-Financial Institutions (effective 1 January 2020) · accessed Oct 2026
- FirstBank: Download forms · accessed Oct 2026
- Access Bank: Account Management Request Form · accessed Oct 2026
- Mondaq (Pavestones): Key regulatory update, the CBN Foreign Exchange Manual 2026 (24 Jun 2026) · accessed Oct 2026
- GTBank: Account reactivation · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.