Understanding Nigeria Bank SWIFT BIC Codes. If you’re involved in international banking transactions, you may have heard the term “SWIFT BIC Code” thrown around. But what exactly is a SWIFT BIC code, and how does it apply to Nigeria banks? In this article, we will explain what SWIFT BIC codes are, their importance in international banking, and provide a list of SWIFT BIC codes for Nigeria banks.
What Is A SWIFT BIC Code?
A SWIFT BIC code is an 8-11 character code that identifies a bank or financial institution in international transactions. The code is used to route money transfers, and it consists of a bank code, a country code, a location code, and (optionally) a branch code. The BIC code is also known as a SWIFT code or SWIFT ID.
Why are SWIFT BIC Codes Important? SWIFT BIC codes are important because they help ensure that international transactions are processed accurately and efficiently. Without the correct BIC code, transfers may be delayed or even sent to the wrong recipient.
List Of SWIFT BIC Codes For Nigeria Banks
Here is a list of SWIFT BIC codes for some of the major Nigeria banks:
- Access Bank Plc: ABNGNGLA
- Citibank Nigeria Limited: CITINGLA
- Diamond Bank Plc: DBLNNGLA
- Ecobank Nigeria Plc: ECOCNGLA
- Fidelity Bank Plc: FIDTNGLA
- First Bank of Nigeria Limited: FBNINGLA
- Guaranty Trust Bank Plc: GTBINGLA
- Keystone Bank Limited: PLNINGLA
- Skye Bank Plc: PRDTNGLA
- Stanbic IBTC Bank Plc: SBICNGLX
- Standard Chartered Bank Nigeria Limited: SCBINGLA
- Union Bank of Nigeria Plc: UBNINGLA
- United Bank for Africa Plc: UNAFNGLA
- Unity Bank Plc: ICITNGLA
- Zenith Bank Plc: ZEIBNGLA
Conclusion
SWIFT BIC codes are essential for international banking transactions, and Nigeria banks are no exception. It is important to use the correct BIC code when sending or receiving money to ensure timely and accurate processing. The list provided above contains SWIFT BIC codes for some of the major Nigeria banks, but it is always advisable to verify the BIC code with the recipient bank before initiating any transactions.