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
Ask the bank for its mandate or signatory change form, complete it with every existing signatory who must consent, and attach certified ID for anyone joining. For a company account, banks expect a board resolution authorising the change. From the UK, the usual extra step is certifying your ID and signature; Fidelity Bank, for example, accepts certification by a notary, court, lawyer, Nigerian embassy, foreign banker or Commissioner for Oaths.
A mandate is the instruction that tells a bank who may operate an account and how: one signatory alone, any two together, or a named person for amounts above a limit. When you move to the UK, the mandate on a family joint account or your company's account in Lagos often stops matching reality. A co-signatory has died, a director has left, or you want a trusted person at home to sign day-to-day payments. Changing it is a paper exercise, but banks treat it as high risk because it decides who controls the money, so expect checks.
What a mandate change usually involves
Each bank has its own form, so the starting point is your bank's version. Access Bank's Account Management Request Form, for example, covers mandate changes and signature changes alongside phone number, email and dormant reactivation requests. It lists acceptable IDs as driver's licence, voter's card, NIN slip or passport, and for diaspora customers a passport plus visa or a notarised residence permit, with a utility bill within three months for address.
| Account type | What banks typically want |
|---|---|
| Personal joint account | Mandate change form signed by the existing holders; ID and BVN for any new signatory; specimen signatures |
| Sole proprietorship | Letter or form signed by the proprietor; ID of the new signatory |
| Limited company | Board resolution authorising the change; updated mandate and specimen signature card; IDs and BVNs of new signatories; sometimes a current CAC status report showing directors |
The company row follows what banks publish for opening and maintaining corporate accounts. Access Bank's corporate account page lists a board resolution, valid ID and BVN for each signatory, and a power of attorney where applicable. GTBank's published route for reactivating a limited company account asks for a form or board resolution signed by two directors, or a director and the secretary, with the company seal. Expect similar sign-off for a mandate change.
Signing from the UK
The hard part from abroad is proving that the signature on the form is yours. Banks handle this in a few ways:
- Certified documents. Fidelity Bank's diaspora page accepts certification by a notary, court, lawyer, Nigerian embassy, foreign banker or Commissioner for Oaths. Many UK readers use a notary public; see using a UK notary for Nigerian documents.
- Apostille or High Commission stamp. Some banks or lawyers want more than a notary. Ask in writing exactly which form of certification the branch will accept before you pay for one. Our guide to apostilles for Nigeria explains the UK side.
- Video verification. Some banks run video KYC for customers abroad; see video KYC with a Nigerian bank.
- Power of attorney. If someone in Nigeria will act for you, a registered power of attorney may be accepted for some steps. Banks differ on this, and it is a serious grant of control.
BVN for new signatories
Every new signatory will need a BVN linked to the account. A UK-based signatory without one can use the non-resident route; the cross-link explains it in full: NRBVN, the BVN for Nigerians abroad.
Removing a signatory who has died or left
If a co-signatory on a personal joint account has died, the bank will want the death certificate and will tell you how it treats the remaining balance. Daily Trust's explainer quotes a tier-one banker saying Nigerian banks need probate or letters of administration before releasing a deceased person's funds, and notes joint accounts as a separate case; ask the bank how its joint account mandate operates after a death. For a company, a departed director is removed from the mandate by board resolution; the change at the Corporate Affairs Commission is a separate filing.
Allow for a gap between submission and the new mandate taking effect. During that period the old mandate still governs the account, so if a departing signatory should no longer be able to move money, tell the bank in writing and ask whether it can place a temporary restriction until the change is processed.
What to check first
- Get the bank's current mandate change form by email from your account officer or the bank's official contact page.
- Confirm who must sign: all existing signatories, the board, or both.
- Ask what certification the bank accepts for signatures made in the UK.
- Collect ID, BVN and specimen signatures for every new signatory.
- Send originals by tracked courier if the bank needs them, and keep copies.
- Ask for written confirmation once the new mandate is live, and test it with a small payment.
Where Pryme fits
For a business, mandates are also about who can approve what. A Pryme Business Account comes with agents for Finance and Compliance that prepare payments and paperwork, and a person approves anything above a ceiling you set, with each action recorded. See the business account and the Compliance agent. Personal accounts can be opened from the UK as well.
Questions people ask
Can I change signatories on my Nigerian business account from abroad?
Usually yes, by board resolution and the bank's mandate form, with your signature certified in the UK. Ask the bank which certification it accepts before you start.
Does a UK notary's stamp work for Nigerian banks?
Some banks accept it. Fidelity Bank lists a notary among acceptable certifiers. Others may also want an apostille or High Commission stamp, so confirm first.
Does a new signatory need a BVN?
Yes. Nigerian banks require the BVN of each signatory. People living abroad can use the non-resident BVN route.
What if a joint account holder has died?
Give the bank the death certificate and ask how it treats the account. Nigerian banks generally want probate or letters of administration before releasing a deceased person's money.
Sources
- Access Bank: Account Management Request Form (PDF) · accessed Oct 2026
- Access Bank: Corporate account requirements · accessed Oct 2026
- GTBank: Account reactivation · accessed Oct 2026
- Fidelity Bank: Diaspora banking · accessed Oct 2026
- Daily Trust: Explainer - why next of kin cannot access a deceased's inheritance, 10 Dec 2023 · accessed Oct 2026
- NDIC: Frequently asked questions · 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.