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The short answer
Often yes, if the money is in your own name at a regulated bank that can be verified, and the funds can be withdrawn immediately. UK rules, for example, convert foreign balances at the OANDA rate on the application date and exclude funds that cannot be verified or are locked in notice or fixed-term products. Present official statements, show the conversion, and explain any large recent deposits.
The short version
Immigration authorities generally care about three things: that the money exists, that it is yours and available, and that the bank behind the statement is real and regulated. A Nigerian account can meet all three. Problems arise from presentation (statements that cannot be checked), from product type (money that is locked), and from timing (balances that appear just before the application). Rules differ by country and visa route; this article uses the UK and Canada as examples, and you should read the guidance for your own route.
What UK rules say
Appendix Finance to the UK Immigration Rules, updated 8 October 2026, sets common rules for many routes:
- Conversion: foreign funds are converted at the OANDA spot rate on the date of application (FIN 1.1).
- Verification: funds are not counted if the institution cannot be verified satisfactorily, is not regulated by the appropriate body, or does not keep electronic records (FIN 2.1).
- Ownership: accounts must be in the applicant's name, alone or jointly, with exceptions for a partner and, on some routes, a parent (FIN 5.1).
- Access: funds in current, deposit, savings or investment accounts count if they can be accessed immediately (FIN 8.1); funds that cannot be withdrawn immediately, whatever the notice period, are not accepted (FIN 8.2).
Route-specific rules
Each route adds its own conditions. GOV.UK's Student visa money page (updated 19 October 2026) asks for £1,529 a month in London or £1,171 a month elsewhere, for up to nine months, held for 28 consecutive days, with the end of that period within 31 days of the application. For partner extensions, the Home Office's financial requirement guidance (version 13.0, 11 November 2025) counts cash savings above £16,000 held for at least six months and under your control, accepts statements on official stationery or e-statements with a bank letter or stamp on every page, and requires a translation if they are not in English or Welsh.
What Canada says
IRCC's officer instructions on proof of funds for temporary residents list bank statements or deposit books showing accumulated savings, alongside employment letters, and set no fixed amount: funds must be large enough to cover reasonable expenses for the stay. For inland extensions, they note that the applicant's history in Canada may give officers enough information on its own. Those instructions are old (last modified in 2014), so check the current form guide for your application.
Presenting Nigerian statements well
- Use the bank's official statement, not a screenshot. Nigerian banks can usually issue stamped statements on request.
- Make sure the name matches your passport. A missing middle name or different spelling invites questions.
- Show the conversion in a covering note: the naira balance, the rate source and date used, and the converted figure. For UK routes, that is OANDA on the application date.
- Explain large deposits. A sudden credit just before the required period looks borrowed. Keep a sale agreement, gift letter or other evidence of where it came from.
- Cover the full period the route needs, without gaps.
Worked example
Example only, with an assumed rate. A student renewing in Manchester needs £1,171 a month for nine months, £10,539. She holds ₦21,500,000 in a Nigerian savings account in her own name for the full 28 days. At an assumed OANDA rate of ₦2,000 to £1 on the application date, that is £10,750, above the requirement by £211. If the rate moved to ₦2,100, the same balance would be £10,238, below it. Hold a margin above the minimum, because the conversion is done on the day.
Fixed deposits and locked savings
A fixed deposit or any product you cannot withdraw from immediately is exactly what UK rule FIN 8.2 excludes. If you plan to rely on Nigerian savings, move them into an account you can withdraw from on demand before the required holding period starts. If you keep naira in a Pryme Savings Box, check in the app whether that Box lets you withdraw on demand; a Fixed Box, by its nature, is unlikely to meet a rule like this.
Where Pryme fits
A Pryme Personal Account can be opened from any country and holds NGN, USD, GBP and EUR. Naira deposits are held by a licensed Nigerian microfinance bank, regulated by the CBN and insured by the NDIC up to the applicable limit. Through Pryme's partnership with VerifyDoc.ai, any customer can generate a verifiable statement that a caseworker can check is genuine and unaltered (receipts and statements). Whether a given visa route accepts a particular statement is the authority's decision. See bank-stamped versus verifiable statements, a multicurrency account checklist and keeping a large naira balance while abroad.
Questions people ask
Can I use my Nigerian bank account for UK visa proof of funds?
Often yes, if the account is in your name at a regulated bank that can be verified, and the money is immediately accessible. Foreign balances are converted at the OANDA rate on the application date.
Will a fixed deposit in Nigeria count as proof of funds?
Not for UK routes covered by Appendix Finance: funds that cannot be withdrawn immediately are not accepted, whatever the notice period.
What exchange rate does the UK use for naira balances?
The OANDA spot rate on the date of application, under Appendix Finance FIN 1.1. Keep a margin above the minimum.
Does IRCC accept Nigerian bank statements for an extension?
IRCC's officer guidance lists bank statements showing savings as evidence and sets no fixed amount; for inland extensions your history in Canada may also be considered. Check your form's current instructions.
Sources
- GOV.UK: Immigration Rules Appendix Finance (updated 8 Oct 2026) · accessed Oct 2026
- GOV.UK: Student visa, money (updated 19 Oct 2026) · accessed Oct 2026
- Home Office: Family migration, Appendix FM financial requirement guidance v13.0 (11 Nov 2025) · accessed Oct 2026
- IRCC: Temporary residents, proof of funds / financial support · 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.