All Banks Codes In Nigeria 2022

All Banks Codes In Nigeria 2022

What is Swift Bank Code

Banks Swift code is a standard format for Business Identifier Codes (BIC) which is used to identify banks and financial institutions globally. It says who and where they are — a sort of international bank code or ID.

Simply put, a swift code is an 8-digit code or characters associated with a Nigerian bank for customers to receive payment from abroad e.g ZEIBNGLA is the swift code for Zenith Bank Nigeria.

Apart from using the codes for international wire transfers or SEPA payments, banks also use these codes to exchange messages or communicate with each other.

SWIFT code is also known as a Bank Identifier Code (BIC). You’ll need to give this code to anyone sending money to you from overseas. The code is made up of letters and numbers.

If you’re sending money to someone overseas you’ll need to get the recipient’s SWIFT in order to do the transfer. Without it, cross-border can’t be done except you make an email transfer which is associated with PayPal and Payoneer.

Different country, different name, the same purpose

SWIFT codes and BIC codes are the same thing and the terms are interchangeable. Other terms used by banks overseas include:

  • CHIPS (Clearing House Inter-Bank Payment System) – US and Canada only
  • NCC (National Clearing Code)
  • BSC (Bank Sort Code)
  • IFSC (Indian Financial System Code).

Example of swift codes for Nigerian banks and their meaning

As earlier pointed out, a swift code is a unique 8 or 11-digit code or characters associated with a bank for the purpose of identifier in international transactions.

Analysis: ZEIBNGLA

First 4 characters – bank code (only letters) ZEIB means Zenith Bank

Next 2 characters – ISO 3166-1 alpha-2 country code (only letters) NG stands for Nigeria. This is because Zenith bank’s swift number in Ghana is different from its headquarters in Nigeria.

Next 2 characters – location code (letters and digits) LA stands for Lagos, where Zenith’s headquarters is located.

SWIFT Codes for All Nigerian Banks

Below is a full list of sort codes associated with all financial institutions in Nigeria

Nigerian BanksSwift Code
United Bank for Africa PlcUNAFNGLA
Fidelity Bank PlcFIDTNGLA
First Bank of Nigeria LimitedFBNINGLA
Zenith Bank PlcZEIBNGLA
Guaranty Trust Bank (GTB) now Guaranty Trust Holding Company Plc (GTCO)GTBINGLA
Union Bank of Nigeria PlcUBNINGLA
Keystone Bank LimitedPLNINGLA
Titan Trust Bank LimitedTTRUNGLA
Unity Bank PlcICITNGLA
Access Bank PlcABNGNGLA
Sterling Bank PlcNAMENGLA
Citibank Nigeria LimitedCITINGLA
First City Monument Bank LimitedFCMBNGLA
Ecobank NigeriaECOCNGLA
Heritage Bank PlcHBCLNGLA
Skye Bank Plc now Polaris Bank LimitedPRDTNGLA
Standard Chartered Bank Nigeria LimitedSCBLNGLA
Providus Bank LimitedUMPLNGLA
Globus Bank LimitedGLOUNGLA
SunTrust Bank Nigeria LimitedSUTGNGLA
Nova Merchant BankNVMBNGLA
Rand Merchant BankFIRNNGLA
FBNQuest Merchant BankKDHLNGLA
Coronation Merchant BankCMBBNGLA
Lotus bank
Kuda BankKUDANGBA234 is to receive payment from Payoneer
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