Q How do I invest the funds in my account?
A By sending us a written instruction
Q How long does it take to get my NID Investment account opened?
A Within 24 hours of receipt of written instruction
Q In what currencies can an NID Investment account be opened?
A NID Investment account is available in Naira, US Dollars, British Pounds and
Euro only
Q What proof of investment do I get?
A You will be issued a Certificate of Investment showing all the details of the
investment
Q What is the minimum amount that I can invest?
A N100,000 (equivalents in $, £ and Є)
Q What are the charges on my investment?
A Depending on the investment option, the only charge applicable is
Withholding Tax which is 10% of the interest on investment
Q Can I convert funds from my domiciliary account to Naira before investing?
A Yes, you can. The applicable rate will be the prevailing CBN/Treasury Rate
on the day of the transaction
Q What is the penalty for pre-liquidation (if any)?
A 25% of the accrued interest
Q How old do you have to be to open an account?
A 18 years for NID Bank Accounts
Q What number do I call for bank account assistance?
A +234 1 7755326 for NID Bank accounts
Q Can someone operate the account on my behalf?
A Yes, you can appoint as a Resident Signatory to operate the account on your behalf in
Nigeria.
Q Whom do I call with questions about opening an account?
A Send e-mail to nid@oceanicbank.com or call +234 1 7755326
Q What minimum documentation requirements do I need to open an NID Investment
Account?
A
1. Properly completed Account Opening Form.
2. Recent Passport Photograph
3. Attested copy of valid proof of identification– International Passport or other supporting IDs like Residence Permit, Work Permit or Driver’s License.
4. Attested copy of proof of source of funds- Any of the following is acceptable- Employer’s reference, Letter of employment, Work ID, Recent pay-slip, Evidence of business registration, Business Bank statements or Banker’s Business reference.
5. Attested copy of proof of address. Any of the following is acceptable - Current Utility bill (not exceeding past 2 months), last 3 months Bank statement, or copy of any letter received within the last 3 months from existing Banker.
6. Attestation of photocopies of attached documents (3 to 5) by a Notary Public, Nigerian
Embassy, Current Banker or an authorized staff of Oceanic Bank. An Attesting Officer should state his/her full name, contact address, contact phone number and email address.
Q How can I fund my account?
A By any of the following means:
i. Local cash and cheque deposits
ii. Transfer from a Bank account in Nigeria
iii. Cash transfer through Western Union Money Transfer to a named beneficiary for lodgment into account
iv. Wire Transfers from your accounts abroad through our Correspondent Banks; Call +234 1 7755326 for details
