How To Open NOVA Bank Account

 

NOVA Merchant Bank was established as a “greenfield” merchant bank—meaning it was licensed new and not converted from an existing institution. It focused on investment banking, corporate advisory, asset management, and wealth services targeting corporate clients and high-net-worth individuals. Founded in 2017 and commenced operations in February?2018, and they made major achievement in the banking industry for the following:

• Shareholder approval for strategic expansion came on July 20, 2023, acting on the goal of moving into retail and SME banking NOVA Bank+3TheCable+3Thisdaylive+3.
• In January 2024, Adebowale (Wale) Oyedeji assumed the role of Managing Director & CEO to lead the transition following approval by the Central Bank of Nigeria (CBN) Thisdaylive+4The Capital NG+4TheCable+4.
• By July 2024, NOVA Merchant Bank officially commenced operations as a national commercial bank, opening its first branch in Victoria Island, Lagos—with plans to expand to Abuja, Port Harcourt, Kano, and other key cities

NOVA Bank Branch Locations

Here are the verified NOVA Bank branches in Nigeria as of mid?2025, based on information from NOVA’s own contact pages and official listings

Head Office (Main Branch)

23 Kofo Abayomi Street, Victoria Island, Lagos ??

Secondary Branch

18 Kofo Abayomi Street, Victoria Island, Lagos ??

Ikeja Branch

43 Toyin Street, Ikeja, Lagos ??

How to Open a Personal Account

Here are the step-by-step instructions to open a personal or SME account with NOVA Bank Nigeria based on their official guidelines:

1. Choose Your Account Type

Head to the Personal Banking section on NOVA Bank’s website or mobile app to select the account type that best suits your needs:

• NOVA Classic Savings Account
• Current Account
• Domiciliary (Foreign currency) Account
• Grow Box, Kiddikash, or SME Plus Account Reddit+14NOVA Bank+14NOVA Bank+14

2. Register via Mobile App or USSD

• Mobile App:
• Download the NOVA Phygital App on iOS or Android.
• Tap on “Open Account,” then fill in your email and phone number, receive an OTP, and verify.
• Provide your BVN (Bank Verification Number), KYC details, and perform face & ID verification.
• Choose a username/password and set a secret PIN.
• Fund your account to activate. Reddit+3NOVA Bank+3NOVA Bank+3
• USSD Code:
• Dial *682#
• Select Proceed → New to NOVA
• Accept privacy terms, choose to register with BVN or NIN, and enter the required number.

o          Your NOVA Bank account is created instantly. NOVA Bank+1Reddit+1

3. Load Funds

Once your account is live:

• • Deposit via bank transfer, branch, or authorized agent
  • Online top up via your Naira or Domiciliary account
  • Fund your account to start making transfers, bill payments, etc. Reddit+7NOVA Bank+7NovoPayment+7

4. Order Your Debit Card

In the app:

• • Go to the Card menu to request a debit card
  • Choose from Naira or Dollar Verve debit cards
  • Once issued, you can use the card at ATMs, POS terminals, or for online transactions

? How to Open a Business/SME Account

If you're registering a small or medium enterprise:

1. Choose NOVA SME Account

This tailored account offers:

• Monthly charge structure
• Access to SME loans, business advisory services, digital collection/payment tools
• Invitation to SME masterclasses and events NOVA Bank+1Reddit+1NOVA Bank+2Reddit+2NuviBank+2NOVA Bank

2. Complete Business Onboarding

Through web or app, provide:

• Your business name and registration documents
• BVN and NIN for business owner(s)
• Utility bill or proof of address
• Completed KYC, reference details as required Reddit+15NOVA Bank+15Reddit+15Reddit

After verification, you’ll be enrolled on:

• • NovaPro Corporate Internet Banking
  • NOVA Phygital Mobile App
  • Optional services like POS, QR code payment, and liquidity tools NovoPayment+6NOVA Bank+6NOVA Bank+6

Some key product and services offered by nova Bank in Nigeria

Here are some standout products and services offered by NOVA Bank Nigeria, supported by the latest insights as it transitions into a full-fledged national commercial bank:

1. Personal Banking Offerings   Account Types

 

• NOVA Classic Savings Account: Competitive interest, low minimum balance, easy access.
• Current Account: Seamless day-to-day banking for personal use
• Card Verve Debit Cards in Naira and Dollar denominations, accepted at ATMs, POS terminals, and online merchants.

Mobile & Digital Banking

Nova Phygital Mobile Banking App—designed with biometric login, 2FA, real-time alerts, account dashboard (multiple accounts/loans), bill payments, top-ups, and in-app support

• Domiciliary Account: Holds and transacts in foreign currencies, with competitive exchange rates.
• Grow Box: Structured savings for medium- to low-income earners aiming to reach a financial goal.
• Kiddikash: A children’s savings account with attractive features

2. SME & Business Banking Solutions

NOVA SME Account

Tailored for small and medium-sized enterprises with fixed monthly fees.

Includes access to business loans, payment and collection tools, digital platforms, SME masterclasses, and visibility at SME fairs

Digital Platforms

NovaPro Corporate Internet Banking: Supports transfers, batch payments, standing instructions, liquidity and payroll management.

Phygital App and POS/QR Solutions: Enable merchants to collect payments and manage transactions seamlessly

3. Corporate & Investment Banking Services

Core Strength in Corporate Sector

Backed by NOVA’s merchant banking roots, they offer corporate and investment banking services capital markets, asset and wealth management, treasury, trade finance, advisory, etc.

Designed to meet high-end client needs, with tailored solutions for large businesses and high-net-worth individuals

Frequently Asked Questions (FAQs) – NOVA Bank Nigeria

Here are frequently asked questions (FAQs) about NOVA Bank Nigeria, including up-to-date answers based on their services and regulatory status as of 2025:

 1. Is NOVA Bank the same as NOVA Merchant Bank?

Yes. NOVA Bank was originally established as NOVA Merchant Bank in 2017. In 2024, it transitioned into a full national commercial bank, expanding its services to include personal, SME, and retail banking.

2. How can I open an account with NOVA Bank?

• You can open an account through any of the following:
• NOVA Phygital App (iOS or Android)
• USSD Code – Dial *682#
• NOVA Bank Branch (physical onboarding)
• You’ll need a BVN, NIN, valid ID, and proof of address to complete onboarding.

3. What services does NOVA Bank offer?

NOVA offers:

• Savings and current accounts
• Domiciliary accounts
• Debit cards (Naira & Dollar)
• Loans and overdrafts
• SME banking (including POS and QR solutions)
• Corporate and investment banking
• Digital banking via app and web

 4. Is NOVA Bank regulated by the Central Bank of Nigeria (CBN)?

Yes. NOVA Bank is fully licensed by the CBN as a commercial bank with national authorization and also operates under NDIC insurance guidelines.

5. What is the “Phygital” banking model?

“Phygital” combines physical banking (branches) and digital experiences (app, internet banking, USSD), giving customers flexibility across channels. NOVA emphasizes this approach to bridge accessibility gaps.

6. How do I get a NOVA debit card?

Once your account is opened and funded, you can request a Verve debit card through:

The Phygital App

Customer service or at a branch

Cards are available in both Naira and USD formats.

7. Can I link my BVN and NIN to my NOVA account?

Yes, and it’s mandatory. You can link them via:

The NOVA Self-Service Portal

The Phygital App

By visiting a NOVA branch

8. Does NOVA offer loans or overdrafts?

Yes. NOVA provides:

Personal loans

SME credit facilities

Salary-backed lending

Loan eligibility depends on account history, credit profile, and documentation.

9. How do I access internet banking for business or personal use?

For individuals: Use the Phygital Mobile App

For businesses/SMEs: Use NovaPro Corporate Internet Banking

10. Where are NOVA Bank branches located?

As of mid?2025, NOVA branches are live in:

Victoria Island, Lagos (flagship branch)

Additional branches are opening in Abuja, Port Harcourt, Kano, and other major cities.

11. Is my money safe with NOVA Bank?

Yes. NOVA is: Regulated by the CBN

Insured by NDIC (Nigeria Deposit Insurance Corporation)

Backed by strong corporate governance and tech infrastructure

12. How can I contact NOVA Bank support?

Phone: Call their contact center (listed in-app or on website)

Website: www.novabank.ng

Email: Via support contact on site

Live Chat: Available in the Phygital App and website

Social Media: @novabankng (Instagram, Twitter, Facebook)