No, you can’t use a non-Nigerian bank for Remita Direct Debit. Remita only works with banks that are licensed and operate within Nigeria. This is because the platform relies on local infrastructure including NUBAN (Nigeria Uniform Bank Account Number) formats and the Nigerian Interbank Settlement System (NIBSS) which foreign banks do not support.
If you’re offering loans through Lendsqr’s platform or any system integrated with Remita, you need to ensure your borrowers hold accounts with Nigerian banks. Otherwise, you won’t be able to auto-debit them using Remita. This protects both you and your borrower by keeping the process compliant, efficient, and secure.
Let’s say you’re a digital lender working with a diaspora client, Uche, who wants to access a ₦500,000 business loan while living abroad. Uche has a Payoneer and a UK-based Monzo account, but no Nigerian bank account.
To enable direct debit via Remita, you advise Uche to open a local account with Zenith Bank Nigeria. After he sets it up and signs the e-mandate, you can now automatically collect monthly repayments, track payment history in real time, and reduce the risk of default. Without a Nigerian bank, this wouldn’t be possible.
Supported banks for Remita direct debit
You can only set up Remita direct debit with the following Nigerian banks:
- Access Bank Plc
- Citibank Nigeria Limited
- Ecobank Nigeria Plc
- Fidelity Bank Plc
- First City Monument Bank Plc
- Globus Bank Limited
- Guaranty Trust Bank Plc
- Heritage Banking Company Ltd.
- Keystone Bank Limited
- Parallex Bank Ltd
- Polaris Bank Plc
- Premium Trust Bank
- Providus Bank
- Sterling Bank Plc
- SunTrust Bank Nigeria Limited
- Titan Trust Bank Ltd
- Union Bank of Nigeria Plc
- United Bank for Africa Plc
- Unity Bank Plc
- Wema Bank Plc
- Zenith Bank Plc
To use Remita for direct debit, borrowers must have an account with a supported Nigerian bank. If they don’t, guide them through opening one. It’s the only way to activate automatic repayments and improve loan performance.
Read further: How direct debit works in Tanzania