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The short answer
Expect to show proof of Nigerian status (your Nigerian passport), proof that you live in the UAE such as your residence visa or Emirates ID, a UAE proof of address, your BVN or NRBVN and proof of income, and to open an account with the bank or platform first. If you want to take the proceeds back out, fund the purchase with money sent from abroad through an approved channel and keep the records.
How T-bills reach a non-resident
Nigerian Treasury bills are short-term government securities sold at a discount. Zenith Bank's FAQ lists tenors of 91, 182 and 364 days and says rates are not fixed, being set at the CBN's auction or in the secondary market. A UAE resident usually buys through a Nigerian bank, a stockbroker or an investment app, which holds the bills through a custodian.
For Nigerians abroad, the CBN's framework for non-resident accounts, effective 1 January 2025 and summarised by Lexworth on Mondaq, matters most. It created the Non-Resident Nigerian Investment Account (NRNIA) for investing in Nigerian markets, alongside the ordinary account (NRNOA) for personal needs. Local debt investments are made in naira; inflows must come from abroad through approved channels.
Documents you will usually need
| Document | Why it is asked for | UAE resident's version |
|---|---|---|
| Proof of Nigerian status | The non-resident framework requires it | Nigerian passport (valid or expired), or foreign passport plus evidence of a Nigerian parent |
| Proof of foreign residence | To open a non-resident account | UAE residence visa or Emirates ID |
| Proof of address | Standard know-your-customer check | Recent UAE utility bill or tenancy contract |
| BVN | Required by Nigerian banks; banks are encouraged to integrate the NRBVN | Existing BVN, or an NRBVN from NIBSS |
| Proof of profession or source of income | Listed in the framework | Employment letter or payslips from your UAE employer |
| Product forms | The bank's own paperwork | For example, Stanbic IBTC asks for a custodial agreement form |
Emirates ID and UAE address proof are what most UAE residents will offer, but each provider sets its own list; ask which documents it accepts and whether it needs them certified.
Example: one bank's process
Stanbic IBTC's Treasury Bills FAQ (undated, with indicative rates from August 2023) shows how a bank handles it. Investors need a Stanbic IBTC bank account. Primary market bids use a Treasury Bill Auction Bid Form; it describes primary auctions every two weeks on Wednesdays unless the CBN advises otherwise. For the secondary market, you email a letter of instruction to your relationship manager stating the amount and tenor, with a custodial agreement form, and fund the account before submitting. It lists a primary market minimum of ₦50,001,000 and fees including a ₦300 transaction fee and custody at 0.05% of face value, plus VAT. Its secondary market minimum appears in two different figures in the same document, so confirm it directly. Treat these as that bank's figures at the time, not today's.
Apps and smaller amounts
Investment apps also offer T-bill products. Bamboo's help page (18 June 2026) says returns "can go as high as 16.79% per annum, depending on the tenor" but does not state the custodian, minimum or fees on that page. With any app, ask whose name the bills are held in, who the custodian is, and how you get your money back before maturity. Our Nigeria guide on buying Treasury bills covers the domestic routes.
Getting the money back out
This is where documents matter most. Under the framework summarised on Mondaq, naira balances in an NRNIA are repatriable only "upon evidence of prior foreign inflows and related investment proceeds". In practice:
- Send the money from your UAE account through a bank or approved transfer channel into the investment account, not as cash or from a third party.
- Keep the transfer confirmation, the conversion record and the bill's purchase confirmation together.
- At maturity, ask the bank to convert the proceeds and send them to your UAE account, with those records attached.
Example only: you send $20,000 from Dubai, convert it to naira and buy a 364-day bill. At maturity, the bank needs to see the original $20,000 inflow to let you convert the proceeds back to dollars. Without that record, you may be left holding naira.
If you are not sure the money will need to come back to the UAE, keep the records anyway. Proof of the original inflow costs nothing to keep and is hard to recreate years later, especially if the UAE bank account it came from has since been closed.
What to check first
- Do you have a BVN or NRBVN?
- Will you buy through a bank, broker or app, and who is the custodian?
- Is the funding coming from abroad through an approved channel?
- What minimum and fees apply today?
Where Pryme fits
A Pryme Personal account can hold USD and NGN side by side, which helps keep records of money arriving from the UAE before it is invested; see multicurrency accounts and verifiable statements. For dollar-linked options, read funding an FGN bond from a UAE bank account.
Questions people ask
Can a Nigerian in Dubai buy Nigerian Treasury bills?
Yes, through a Nigerian bank, broker or app, usually after opening an account and passing identity checks. The CBN's NRNIA is designed for non-resident investment.
Is the Emirates ID accepted as proof of residence?
It is the usual UAE evidence, alongside a residence visa, but each provider sets its own list. Ask before you apply.
What is the minimum for T-bills?
It varies. Stanbic IBTC's FAQ listed ₦50,001,000 for the primary market; apps set their own. Check the current figure.
Can I send my T-bill proceeds back to the UAE?
Under the non-resident framework, naira proceeds are repatriable with evidence of the original foreign inflow, so keep your transfer records.
Sources
- Mondaq (Lexworth): CBN framework for Non-Resident Nigerian Ordinary and Investment Accounts (22 May 2025) · accessed Oct 2026
- Zenith Bank: Customer service FAQs · accessed Oct 2026
- Stanbic IBTC: Treasury Bills FAQs (undated, 2023 rates) · accessed Oct 2026
- Bamboo Help: How do the Bamboo Treasury Bills work? (18 Jun 2026) · accessed Oct 2026
- NIBSS: Non-Resident BVN (NRBVN) · 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.