Understanding SWIFT codes for banks in Nigeria

Nabanker


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Posted by on Wednesday August 7, 2013 at 12:13:36:

For an international transfer of money to take place, things like a SWIFT code is important. In Nigeria, if you have a bank account, you can receive money globally from other banks outside Nigeria within a few days if the money has been sent using the right codes.

It consists of 8 or 11 characters which can be alphabetic or numeric.

The SWIFT code is the standard format for identifying a bank and its branch globally and this is essential when moving money from one bank to another using electronic means.

Sure, in Nigeria, it's probably easy to do intra-bank and inter-bank transfer but it is not that easy when receiving money INTO Nigeria from a country like the USA.

Unless you are probably using western union or moneygram, you probably don't have to worry about SWIFT codes but if you want a friend business partner or client to send money into your bank account, then they need to send it using the accurate SWIFT codes relevant for an international funds transfer.

The first 4 characters consists of the bank codes e.g. ABNG for Access Bank Nigeria. The next 2 characters is the country code e.g. NG. The next 2 characters is the location code e.g. for Lagos is LA. The following 2 characters is the branch code noting the branch location. This is normally XXX for main branch and numeric e.g. 001 for a specific branch.

So the primary SWIFT code for a bank like Access Bank Nigeria located in Lagos would be given as ABNGNGLAXXX.

See SWIFT codes for banks in Nigeria here:http://www.theswiftcodes.com/nigeria/




Comments:
    Re: Understanding SWIFT codes for banks in Nigeria Reply by JioBlack on Wednesday November 6, 2013 at 11:19:59:

    I would love to know is it possible to use lets say lagos branch swift code if you live in delta....would the money transfer still be possible..

    Thanks for the topic Nice work keep it up



    Re: Understanding SWIFT codes for banks in Nigeria Reply by Felix Okoli on Wednesday November 6, 2013 at 11:19:59:

    If you use the Lagos branch, it would work if only your account is in that Lagos branch


    Re: Understanding SWIFT codes for banks in Nigeria Reply by alphaus on Friday November 15, 2013 at 20:41:45:

    what is the swift code for diamond bank branch at bode Thomas.



    Re: Understanding SWIFT codes for banks in Nigeria Reply by kingsley on Wednesday January 8, 2014 at 12:28:5:

    What if my account is in plateau state?






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