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The short answer
There are three common ways to help with an elderly parent's bank account in Nigeria: be added to the account or mandate with the bank's approval, hold a power of attorney the bank accepts, or simply help your parent use their own channels while they keep control. Whatever you choose, your authority ends on their death, when the bank stops the account and deals only with the legal representatives of the estate.
Start with the least access that works
Most families slip into an informal arrangement: a son keeps his mother's card, a daughter knows her father's PIN. It feels practical, but it leaves no record of who did what, it breaks the bank's terms, and it is exactly the setting in which money goes missing without anyone noticing. A better approach is to choose the lightest arrangement that solves the actual problem.
| Arrangement | What it does | Watch out for |
|---|---|---|
| Helping, not holding | Your parent keeps the card, PIN and phone; you sit with them, set up alerts, check statements together | Works only while they can make decisions |
| Adding you to the mandate or making it joint | The bank records you as someone who can sign or instruct | Money may be treated as jointly owned; see joint account rules |
| Power of attorney | A legal document in which your parent authorises you to act for them | The bank must accept the document; it ends on death |
| Formal steps after capacity is lost | Court-supervised arrangements | Slow; take legal advice early |
Power of attorney: what to know before you go to the bank
A power of attorney (POA) is a document in which one person, the donor, appoints another, the attorney, to act on their behalf. For bank accounts it can be general or limited to specific acts, such as paying bills or withdrawing up to a stated amount.
- Ask the bank first. Banks have their own requirements for accepting a POA, including the wording, the identification of both people, and whether they want it witnessed or notarised. Ask the branch for their list before you instruct a lawyer.
- Keep it specific. A limited POA, for example to pay rent, utilities and medical bills from one account, is easier for the bank to accept and safer for your parent.
- Registration and stamping. Whether a POA must be registered or stamped depends on what it covers, especially if land is involved. A lawyer can confirm what applies in your state.
- Capacity. Ask your lawyer whether the document will stay valid if your parent later loses mental capacity. Do not assume it will.
For the mechanics of using one at a bank, read power of attorney over a bank account.
What happens on death
A POA or a mandate is authority to act for a living person. TEMPLARS' November 2025 paper on account restrictions notes that a bank that receives notice of a customer's death stops withdrawals, and after that only the legal representatives of the estate can deal with the account. If you are still using your parent's card after their death, stop and talk to the family and a lawyer. See claiming a dead relative's bank account.
Setting up safe access day to day
- Turn on SMS and email alerts to your parent's phone and, with their agreement, a copy to yours.
- Set a sensible daily transfer limit on their account; see setting a low limit on purpose.
- Set up the phone carefully. Under the CBN rules from 1 May 2026, as reported by Channels TV, a banking app works on one device at a time and a newly activated device is limited to ₦20,000 in the first 24 hours, so moving their app to your phone has consequences.
- Write down which bills you will pay and keep receipts in one folder.
- Never ask for, or keep, your parent's BVN details in your phone notes; see is it safe to share your BVN?
Our guide to setting up an elderly parent's phone against scams covers the phone itself.
Signs of financial exploitation
Exploitation is usually by someone the person trusts: a relative, a carer, a new friend or a "pastor" with a special project. Watch for:
- Withdrawals or transfers your parent cannot explain, or large round sums to one person.
- A new name appearing as a beneficiary, joint holder or attorney.
- Loans your parent did not take. CRC Credit Bureau's FAQ says a credit report shows enquiries and credit facility history, so a report can reveal borrowing in their name.
- Unpaid bills despite money going out.
- Calls from someone offering to "recover" money lost to a scam for a fee. The FTC warns that legitimate organisations do not ask for money to help get a refund.
If you think it is happening
Talk to your parent privately, then to their bank's fraud desk. Ask the bank to review recent activity and change any mandate that was obtained under pressure. Family disagreements about money can go to mediation: in Lagos, the Citizens' Mediation Centre says its free service handles family, inheritance and monetary disputes.
Where Pryme fits
A Pryme Personal Account holder can set up a Personal Assistant that prepares bills, reminders and transfers, but nothing moves without the account holder's approval (Personal Assistant). For a parent who wants help but also control, that keeps the final say with them.
Questions people ask
Can I use my parent's power of attorney at a Nigerian bank?
Only if the bank accepts the document. Ask the branch for its requirements before you draft one, and keep the powers specific to what you need.
Does a power of attorney end when my parent dies?
Yes. Authority to act for a living person ends on death. Once the bank is told of the death it stops withdrawals and deals with the estate's legal representatives.
Should I add my name to my mother's account?
It gives you authority, but may change who is treated as owning the money and what happens on death. Read up on joint account rules and talk to your parent and the bank first.
How can I tell if someone is stealing from my elderly father's account?
Look for transfers he cannot explain, new beneficiaries, loans he did not take on his credit report and unpaid bills. Contact his bank's fraud desk with him.
Sources
- TEMPLARS ThoughtLab: Freezing bank accounts in Nigeria, Nov 2025 (PDF) · accessed Oct 2026
- Channels TV: what you must know as CBN tightens BVN rules from May 1, 8 Apr 2026 · accessed Oct 2026
- CRC Credit Bureau: frequently asked questions · accessed Oct 2026
- Lagos State Ministry of Justice: Citizens' Mediation Centre · accessed Oct 2026
- US Federal Trade Commission: Refund and recovery scams · 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.