Requirements for Individuals and Businesses
When applying for visas, loans, or international transactions, one of the most common requests you will encounter is Proof of Funds (POF). This is a formal document that shows you (or your business) have the financial capacity to cover specific obligations such as travel, investment, or project expenses.
Whether you are an individual traveler, a student, or a business applying for funding, meeting the POF requirements is crucial. Below, we outline the necessary details and documents required for both individuals and businesses.
Proof of Fund Requirements for Individuals
For POF for personal account, individuals are expected to provide the following:
Applicant’s Details
Name of Account
Account Number
Type of Account
BVN
Title
First Name
Surname
Other Names
Mother’s Maiden Name
Date of Birth
Place of Birth
Gender
Nationality
State of Origin
LGA
Hometown
Marital Status
Religion
Phone Number
Email
Occupation
Workplace & Workplace Address
- Loan Amount (i.e POF Amount)
Identification & Travel Details
Means of Identity (National ID, International Passport, Driver’s License, etc.)
ID Number
NIN
ID Expiry Date
Proof of Travel (e.g., visa application, flight booking, admission letter)
International Passport
Next of Kin Details
Full Name
Date of Birth
Gender
Relationship
Email
Phone Number
Residential Address
Documents to Submit for Individuals
Valid Means of ID
Utility Bill
Passport Photograph
Signature Sample
Why These Requirements Matter
Banks, embassies, and financial institutions need these details to:
Verify identity and eligibility
Prevent fraud and money laundering
Ensure funds belong to the applicant
Confirm ability to meet financial obligations
Submitting complete and accurate information reduces delays and increases the chances of approval.
POF Requirements for Businesses
Businesses applying for a proof of fund need to provide both applicant details and next of kin details, along with supporting documents.
Applicant’s Details (Business Owner / Director)
BVN
Title
Surname
First Name
Middle Name
Gender (Male/Female)
Marital Status
Date of Birth
Country of Birth
Nationality
State of Origin
Local Government Area (LGA) of Origin
Mother’s Maiden Name
Residential Address
Nearest Bus Stop
City/Town
State of Residence
Occupation
Phone Number
Email
Amount Needed
Account Number
Bank (e.g., Access Bank)
Signatory to Account Details
Title
Surname
First Name
Middle Name
Date of Birth
Relationship
Gender
Phone Number
BNV
- National ID (any of NIN, International passport, Driver’ s License, Voter’s card)
Residential Address
Required Documents for Businesses
Valid Identification (must match BVN details)
Recent Utility Bill
Passport Photograph
Signature of signatories to the account on plain paper
Final Thoughts
Whether you are an individual applying for a travel visa or a business seeking funding, proper documentation for Proof of Funds is non-negotiable. Gather all necessary documents, ensure details match your BVN records, and submit clear copies to avoid rejection.