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As a content creator who earns in USD, one of my biggest challenges was how to receive dollars directly in Nigeria without incurring excessive charges or dealing with unnecessary limitations.
Sure, I already had a Geegpay account. It gives me a virtual US account to receive payments, and it works quite well. But let's be honest, some restrictions come with those virtual dollar accounts (I won’t go into all that now). Additionally, I sought something more traditional, with no hidden fees, and with the flexibility to withdraw in USD at any time.
So, I made a decision that surprised even me…
I decided to open a domiciliary account with FirstBank.
Honestly? At first, I was sceptical. I’m team OPay and digital banks all day. I hate queues, the slow banking process, and the whole idea of spending hours in a branch just to do basic stuff.
But one morning, I thought, “Let me just walk into FirstBank and see what the process is like.”
To my surprise, the bank wasn’t congested. No long lines. The environment was calm and organised. That alone made me feel more comfortable and encouraged me to move forward with the account opening.
Now, why FirstBank out of all the other traditional banks?
They’re one of the oldest and most trusted banks in Nigeria.
I already had a savings account with FirstBank.
They have global banking partnerships, which make it easier to receive foreign currency.
Many of my friends who do freelance work recommended them.
I’d rather use a bank with years of experience handling FX than one that might frustrate me later with limits or sudden policy changes.
Considering other banks too? Here’s a complete guide on how to open a Zenith Bank domiciliary dollar account.
Here’s the part many people stress about, but trust me, it’s not that deep. The process is straightforward if you have the right documents.
Here’s what I was asked to bring:
BVN (Bank Verification Number)
A valid means of identification (like your NIN slip, National ID card, Voter's card, or International Passport)
Two passport photographs
Two referees who operate a current account with any Nigerian bank
Utility bill (to confirm your address, like an electricity or water bill)
An initial deposit in USD (This varies. Mine was $100.)
Pro tip: Go early in the morning so you can finish everything the same day.
The process was simple:
I walked in and told the customer service rep I wanted to open a domiciliary account.
She gave me a form to fill out and explained everything.
I submitted the required documents and was told I’d get my account number in a few hours.
True to their word, within 24 hours, I received an SMS with my new domiciliary account details.
Boom! I could now receive USD directly into my FirstBank account.
If you're receiving money from clients or family in the U.S., check out our full guide on how to transfer money from the USA to Nigeria safely and affordably.
You’ll need to go back to the bank to activate internet banking, but if you have a FirstBank account already, like me, it would be auto linked to your Mobile app..
If you want to withdraw cash in USD, you’ll need to go to the branch with your valid ID or transfer to your Naira account from your dollar account via FirstMobile app.
And yes, you can also request a USD debit card (Mastercard or Visa), but this may come later, depending on the branch and availability.
If you’re:
A freelancer on Upwork or Fiverr
A YouTuber or TikToker earning through AdSense or brand deals
A remote worker receiving international payments
A blogger with affiliate income in USD
Someone who wants to save in USD to hedge against Naira fluctuations...
Then yes, it’s worth considering.
It gives you control, peace of mind, and full access to your dollars without the drama of virtual limitations.
A domiciliary (dom) account is a type of bank account that allows you to receive, save, and withdraw foreign currencies like USD, EUR, or GBP. In this case, we’re talking specifically about USD.
Some FirstBank branches may require a minimum opening deposit, often around $50–$100, while others may allow you to open it first and fund it later. It varies by branch.
Yes. FirstBank typically requires two current account holders to serve as referees.
You can receive money from Payoneer directly into your FirstBank domiciliary account. For PayPal, it depends—sending to Nigerian banks is often limited, so check with the sender.
Yes. You can either:
Withdraw the dollar cash over the counter (with your valid ID), or
Ask the bank to convert it to Naira at their official exchange rate (usually lower than the black market).
If your documents are complete and your referees respond quickly, you should have your domiciliary account number within 48–72 hours.
Yes. You can use the FirstMobile app or FirstOnline (internet banking) to manage your dom account once it's active.
Yes, you can request a USD debit card (Mastercard or Visa). However, availability depends on your branch, and it might take a few days or weeks.
No. You can’t fund a dom account directly with Naira. You need to deposit USD, either in cash or via international transfer from platforms like Payoneer, Wise, etc.
This is a common issue. You can:
Ask friends, colleagues, or family who have current accounts.
Visit the bank and ask if they offer any alternative options (some branches are flexible).
If FirstBank doesn’t feel like the perfect fit for you, don’t worry—you have choices. Learn how to open a Zenith Bank domiciliary account for receiving dollars in Nigeria—some users prefer their corporate-friendly services and branch network.
And if you're expecting USD from clients or platforms abroad, our guide on how to transfer money from the USA to Nigeria breaks down all the methods you can use—like Wise, Remitly, and even Payoneer.
I still use my Geegpay account for quick payments, but now I use my FirstBank domiciliary account when I want to receive larger funds, save in USD, or withdraw actual dollar notes.
And knowing that I have options makes me feel more financially empowered.
So, if you’ve been sitting on the fence, maybe it’s time to go for it. Just be prepared with your documents, and go early to avoid any delays.
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