Domiciliary Account in Nigeria: How Freelancers and Exporters Get Paid in Dollars and Pounds (2026)

If you design, write, code or consult for clients in London, Houston or Toronto, the first practical question is not how to find them — it is how their money reaches you without disappearing into fees and a bad exchange rate. For many Nigerian freelancers and small exporters the answer is a domiciliary account. Nigerians search for it about 2,900 times a month, mostly asking the same things: what it is, how to open one, and what the rules are now.

Last checked 15 October 2026. Tax position from section 12 and the Fourth Schedule of the Nigeria Tax Act 2025. CBN rules from the June 2023 guidance and September 2026 reports; bank requirements change often, so confirm with your bank.

What a domiciliary account is

A domiciliary account — “dom account” — is a bank account in Nigeria held in a foreign currency. Most banks offer US dollars, pounds sterling and euros, as separate accounts under your profile. You can receive money in that currency, keep it, transfer it, or convert it to naira when the rate suits you. There are personal and corporate versions; a business registered with the CAC should open the corporate one so business receipts are not mixed with personal savings.

The rules in 2026

The non-resident accounts introduced in January 2025 are for Nigerians living abroad who want to hold and invest money at home, opened with a non-resident BVN. If you live in Nigeria and earn from foreign clients, you want an ordinary domiciliary account instead.

What banks ask for

• A completed account opening form and signature card.
• Your BVN, and your Tax ID — banks must now ask for one.
• A valid ID: international passport, NIN slip or driver’s licence.
• One recent passport photograph.
• A utility bill for your address, usually dated within the last three months.
• Two reference forms, often from account holders at the same or another bank.
• For a corporate account: CAC certificate, status report, board resolution or proprietor’s letter, and the signatories’ IDs.
• A minimum opening deposit at some banks, typically small (in the order of $50–$100), but it varies — ask.

Getting a foreign client’s payment in

Wires carry charges on the sending side, sometimes at an intermediary bank, and sometimes on receipt. Agree up front whether the client pays all charges (“OUR”) or you share them (“SHA”), and write it on the invoice. Platforms such as Payoneer, Wise, Grey or Geegpay give you foreign receiving accounts and are often cheaper for small, frequent payments; they are an alternative or a complement to a dom account, not a replacement for keeping records.

How the income is taxed

Earning in dollars does not move the income out of Nigeria’s tax net. The Nigeria Tax Act 2025 says the income of a resident individual is chargeable to tax wherever it arises and whether or not it is brought into Nigeria. Residence generally follows where you live, including being here for 183 days or more in a 12-month period. Your foreign earnings, converted to naira, go into your annual personal income tax computation alongside any local income.

If the foreign client’s country taxed the payment, the Act provides relief so you are not taxed twice on the same income. Keep the invoice, the bank advice and any foreign tax certificate together; they are your evidence. Work out your own figure with the personal tax calculator and read the freelancer guide to the new Act.

Mistakes that cost freelancers money

• Converting on arrival by default. Some accounts are set to convert incoming foreign currency to naira automatically. Ask the bank to credit the dom account instead.
• Invoicing in naira for a foreign client. The client then carries the exchange risk, pays a conversion margin, and the amount that lands is rarely the amount you priced.
• No paper trail. Payments with no invoice behind them look like unexplained inflows to a bank compliance team. Every receipt should match an invoice.
• Mixing currencies in one spreadsheet column. Record each payment in its currency and the naira equivalent on the day, or your annual figure will be wrong.

Invoicing foreign clients from ereQa

ereQa issues invoices in your account’s currency, which you can set to US dollars, pounds or euros in Settings, and puts your bank details — including SWIFT and intermediary-bank instructions — on every invoice and on the client’s payment link. When the money arrives you mark the invoice paid and the client’s link shows it as paid. Start free with five invoices a month.

This is general information, not legal or tax advice. Fees, forms and bank rules change; confirm with the agency, your bank or a licensed adviser before you rely on a figure.