Can a 14, 15, 16, 17 years old open a bank account in Nigeria? (with or without parents)

Can a 14, 15, 16, 17 years old open a bank account in Nigeria? (with or without parents)

So I get a lot of emails from people asking if it is possible for a 14-year-old, 15-year-old, 16-year-old and 17-year-old to open a bank account in Nigeria without parents.

Before we go into that, you should know that it is never too early to start saving money, in fact a lot of older people which they had the foresight to start saving money at a young age, it would have set them up for the future, and solve a lot of financial troubles they may be facing currently.

In this post, I am going to be answering the question “Can a 14, 15, 16, 17 years old open a bank account in Nigeria?” and more.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…

Read my post on how to open access bank account online

Why a child/teenager needs a bank account?

There are different reasons why a child or teenager needs a bank account, some of them as follows:

  1. A teenager may require an account when they get admission into the university and since it is become very common for people below 18 years of age to be admitted into higher institutions, you can see why opening a bank account is necessary
  2. It is also not uncommon for teenagers/children to already be making money for themselves. The world has changed and there are so many opportunities that does not require you to be an adult before you can profit from them.
  3. Another reason could be putting away money just for future sake

There are a few more reasons, but I believe the above covers the major ones.

Can a 14, 15, 16, 17 years old open a bank account in Nigeria?

It is very much possible for a teenager to open a bank account in Nigeria, however major banks usually do not allow you to open a bank account directly without the aid of a parent or guardian.

These accounts available in major banks allows a parent to either open the account in your name but oversee the transactions on it themselves, until you turn 18 and you can take over.

For example, for a child named JOY OBI, it is possible that the parent can decide to open a bank account in the child’s name (JOY OBI) and deposit money on it and when the child is of legal adult age, he can take over the account.

Another way to open an account for a 14, 15, 16 and 17-year-old is a type of joint account, in which both the child/teenager and the guardian are the owners of the bank account.

In this case, the child/teenager can have access to the account to make deposits & withdrawals, but the account cannot be opened without a guardian/parent.

As you can see, the above are the ways in which a 14, 15, 16 and 17-year-old can open a bank account.

Best bank accounts for children/teenagers in Nigeria?

The following are some of the best available accounts for children/kids/teenagers:

Zenith bank children’s account (ZECA)

The Zenith Bank Children’s Account is a unique savings account designed to allow parents save (in Naira or US Dollars) for their children’s future and teach them about savings from a tender age. The account is modeled in for young children with an overarching objective of making savings fun for them and teaching them financial discipline.

GTbank SKS account (Smart kids save)

The Smart Kids Save account is designed to enable parents/guardians save for their children under 18 years of age, whilst also developing a savings culture in them.

First bank KidsFirst account

KidsFirst savings account designed for children between the ages of 0-12 to show them how exciting saving can be. With this account, your child also gets to enjoy fun activities such as cool treasure hunts, cinema events and much more all year round, courtesy of FirstBank.

UBA Kids savings account

Children between the ages of 0 – 12 years. Parents or guardians will manage the account on behalf of the child. This account is available in two variants – Full and Lite.

Access bank early savers account

Early Savers Account is a savings account for children below the age of 16 years including unborn children.

The account can be opened in trust for a child by the parent/guardian who will be the primary account holder with the responsibility of running this account until their child attains adulthood and can solely operate their own accounts or possibly move to other age appropriate product.

Read my post on the best domiciliary accounts in Nigeria


I hope that with the above, I have been able to answer your questions. If you require further information, you can always leave us a comment or visit our contact us page and send us an email.

We will get back to you as soon as we possibly can.


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