The Authorization Letter For Bank Account Opening is an essential document in Nigerian banking operations, designed to facilitate account opening procedures when the account holder cannot be physically present. This document is commonly used in various scenarios, including corporate account openings, overseas account holders, or situations involving physical inability to visit the bank. The letter must comply with Nigerian banking regulations, including the Banks and Other Financial Institutions Act (BOFIA) 2020 and Central Bank of Nigeria (CBN) Know Your Customer (KYC) Guidelines. It typically contains detailed identification information, specific authorizations granted, and any limitations on the authority. The document serves as legal protection for all parties involved and helps ensure proper documentation for regulatory compliance and audit purposes.

1. Letter Header with Date: Complete letterhead including current date and reference number if applicable

2. Bank Details: Full name and address of the target bank

3. Subject Line: Clear indication that this is an authorization letter for bank account opening

4. Authorizer Information: Full details of the person/entity giving the authorization, including full name, address, and identification details

5. Authorized Person Information: Complete details of the person being authorized, including full name, address, and identification details

6. Authorization Statement: Clear and specific statement of the authorization being granted for opening the bank account

7. Account Details: Specification of the type of account to be opened and any specific requirements

8. Duration of Authority: Time period for which the authorization is valid

9. Signature Block: Space for authorizer's signature, name, and date