This type of bank account is used to run schools, institutions, colleges, and tertiary institutions. It also includes Students Union Governments (SUG), faculty and departmental unions.
It is a tier three account and it can be savings or current.
REQUIREMENTS AND DOCUMENTATIONS
All documents necessary for opening a Corporate Account will be required, in Addition to the following:
- Copy of approval from National University Commission/ Relevant Government approval from Ministry Of Education
- Letter from the Bursar/Accounts Office
- Certificate of Incorporation (Where applicable)
For departments in the School/College/University, the following will be required:
- A letter from the Head of the Faculty/Department Constitution of Department
- Extract of minutes of meeting in respect of banking relationship
- Two Reference forms
The individual signatories will also provide all the requirements of a tier three account.