There are different types of bank accounts in Nigeria. Aside from the account holder, each account type has advantages and disadvantages. The best bank account depends on individual needs and expectations. For instance, the saving account is useful for those who want to save money immediately but do not want to deal with challenges such as lengthy paperwork, hidden fees and waiting period. The business savings account is ideal for people who have their own business within Nigeria or plan on starting their own business someday soon. This type of account allows one to deposit funds into it and make use of immediate cash withdrawals without paying a fee.