An Authorization Letter For Bank is a critical document in Nigerian banking operations that establishes a legal mandate for someone to act on behalf of an account holder. This document is essential when account holders need to delegate banking authority due to travel, illness, corporate requirements, or other circumstances preventing direct account access. The letter must conform to Nigerian banking regulations, including the Banks and Other Financial Institutions Act (BOFIA) 2020 and Central Bank of Nigeria guidelines. It typically includes detailed identification of all parties, specific powers granted, transaction limits, and duration of authority. The document is widely used across Nigeria by both individual and corporate account holders, requiring careful preparation to ensure it meets all regulatory requirements and provides adequate protection for all parties involved.

1. Letter Header: Complete contact information of the account holder including full name, address, and account number

2. Date and Branch Details: Current date and specific bank branch details where the authorization will be used

3. Salutation: Formal address to the bank manager or relevant banking official

4. Account Holder Information: Full details of the account holder including identification information and account numbers

5. Authorized Person Details: Complete information about the person being authorized, including full name, identification details, and relationship to account holder

6. Scope of Authorization: Clear specification of what banking activities the authorized person can perform

7. Duration of Authority: Specific timeframe for which the authorization is valid

8. Declaration and Signature: Formal statement of authorization and signature of the account holder