Ever needed to make or receive an international money transfer in Nigeria? If yes, then chances are you’ve had to figure out the Swift code of your bank or the recipient’s bank. For many people, this is something they have no idea about - until that moment when they’re filling out a transfer form.
You may not necessarily need to remember Swift codes off the top of your head. But it’s really important that have a reliable source that you could refer to anytime any day. Luckily, you’re reading one right now.
This article does not just list Swift codes for all the banks in Nigeria. It also goes ahead to explain what this unique code is and how to read one.
What is Swift Code?
Swift Codes refer to unique alphanumeric codes assigned to businesses worldwide as a form of identification. A Swift code is sometimes called a Business Identifier Code (BIC) to express its purpose.
Swift codes are specifically assigned to businesses, such as banks and financial institutions. Each of these codes points to a particular bank and the location of the bank or the region it is operating in. The code is extensively used for bank transactions. It serves as a tool for transaction authorization and referencing.
How Swift Codes Work
You’ve probably encountered a Swift code at the bank. This could be while registering an account or filling out a transfer form. In other cases, Swift codes are required or displayed for online banking services.
No matter the scenario, Swift codes always serve the same function.
They help banking and financial institutions know which bank a transaction originates from. This information then allows relevant authorities to authenticate transactions. By doing so, they improve the overall security of the banking system.
How to Read a Swift Code
Every Swift code will contain either 8 or 11 characters. An 8-character Swift code identifies two things: the name of a bank and its region or country of operation.
On the other hand, an 11-character Swift code identifies three things. They include the bank name, region, or country, and a specific branch that is not the head office.
Here’s how every Swift code is formatted:
AAAA BB CC DDD
Now, here’s how to read a Swift code based on its format:
First Set of Characters:
The first four characters (formatted as AAAA in the image above) make up the bank code. It identifies a particular bank or business globally.
What this means is that no two banks can have the same bank code. So, technically, a bank code will point to one banking institution which can be identified anywhere in the world.
Second Set of Characters:
The second set of characters (formatted as BB) are known as the country code. This code tells you what country the bank or business is operating in. It follows typical country code notation where NG stands for Nigeria, US stands for United States of America, UK stands for the United Kingdom, and so on.
Third Set of Characters:
The third set of characters (formatted as CC) are known as the location code. You might be thinking, “Why have a location code if there’s already a country code?” Well, the answer is that the location code points to the state or sub-region where a bank’s main branch or headquarters is located.
So while the country code tells the country where a bank is operating, the location code tells the state where the bank has its head office.
As an example, UBA Swift Code, Access Bank Swift Code, and GTB Swift Code all have LA as their location code. This signifies the presence of their headquarters or head offices in Lagos State.
Fourth Set of Characters:
The fourth set of characters (formatted as DDD) has only three digits and is known as the branch code. Branch codes do not appear in every Swift code. They are optional. This is because not every transaction requires information about the originating branch.
Swift Codes for Banks in Nigeria
In this section, we list the Swift codes allocated to every bank in Nigeria.
The point to note here is that our list only references 8-digit Swift codes, with no branch codes included. Nevertheless, we must state that it is possible for a bank to have or use multiple Swift codes (aside from those with branch codes). These types of Swift codes may identify different departments, services, etc.
Central Bank of Nigeria (CBN) Swift Code
The Central Bank of Nigeria is the lead or apex bank in Nigeria. It oversees the activities of every other bank and OFI. Like a regular bank, the CBN has its own Swift code, which is CBNINGLG.
You may never have to use this Swift code but you must have an idea of what it is.
Access Bank Swift Code
The Access Bank Swift Code is ABNGNGLA. Note that this code specifically points to the Access Bank head office.
If you’re referring to any other Access Bank branch that is not the Head Office, the Swift code will look something like this: ABNGNGLAXXX.
The ‘XXX’ addition at the end of the original Access Bank code is a placeholder for a three-digit number. This is a branch code.
EcoBank Swift Code
The EcoBank Swift Code is ECOCNGLA.
Fidelity Bank Swift Code
The Fidelity Bank Swift Code is FIDTNGLA.
First Bank Swift Code
The Swift code for First Bank is FBNINGLA.
First City Monument Bank (FCMB) Swift Code
The Swift code for First City Monument Bank is FCMBNGLA.
Globus Bank Swift Code
The Globus Bank Swift Code is GLOUNGLA.
Guaranty Trust Bank (GTB) Swift Code
The GTB Swift code is GTBINGLA.
Heritage Bank Swift Code
The Heritage Bank Swift code is HBCLNGLA.
Keystone Bank Swift Code
The Keystone Bank Swift Code is PLNINGLA.
Polaris Bank Swift Code
The Polaris Bank Swift Code is PRDTNGLA.
Providus Bank Swift Code
The Providus Bank Swift Code is UMPLNGLA.
Stanbic IBTC Swift Code
The Stanbic IBTC Swift code is SBICNGLX.
Sterling Bank Swift Code
The Sterling Bank Swift Code is NAMENGLA.
UBA Swift Code
The UBA Swift Code is UNAFNGLA. Like in every other case, this code points to the head office. It can only be used to identify that a user’s transaction was processed by the main UBA branch within Nigeria.
Union Bank Swift Code
The Union Bank Swift Code is UBNINGLA.
Unity Bank Swift Code
The Unity Bank Swift Code is ICITNGLA.
Wema Bank Swift Code
The Wema Bank Swift Code is WEMANGLA.
Zenith Bank Swift Code
The Zenith Bank Swift Code is ZEIBNGLA.
Conclusion
Be rest assured that we will regularly update the list as new banks emerge and old ones close down or merge. With that, you only need to bookmark this page and you’ll have quick access to Swift codes for all banks in Nigeria.
Remember to cross reference Swift codes with the simple format explained above to avoid errors when making a transaction.
