Hacks and Tips
3 mins read
Nov 18, 2022
IBAN and Swift code numbers for sending money to Nigerian banks

We have come a long way from the first wire transfer in 1872. Now, with just a few taps on your phone, it is possible to send money to your family and friends anywhere in the world. 

But International money transfers are still more complicated than local transfers, especially when you have to use banks. Typically, if you need to make a bank transfer to another country, you are required to present the SWIFT/BIC code, an IBAN number, or even both. But what do these numbers mean?

What are SWIFT and IBAN numbers?

Most people confuse the SWIFT and IBAN numbers, but they are different. A SWIFT code is an 8-11 character code used to identify a recipient’s country, bank and location.

For example, the SWIFT code for the Central Bank of Nigeria is CBNINGLA where CBNI is the Bank’s code, NG is the country code, and LA is the Location code.

An International Bank Account Number (IBAN) is a 32 alphanumeric code that contains the recipient’s country code, check digit to ensure its security, bank code, sort code, and account number.

The length and format of an IBAN depend on the recipient’s country. You can validate an IBAN here

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The difference between IBAN and SWIFT numbers 

IBAN and SWIFT numbers are both used by banks for international money transfers, but they convey different information.

A SWIFT code identifies the name of a recipient’s bank while an IBAN identifies the recipient’s bank account. Also, SWIFT is the default system used by banks and other financial institutions outside the EU.

Most Nigerian Banks use the SWIFT system for international transfers. The best way to get a Nigerian Bank’s IBAN number is by contacting the bank through its help channels or by visiting one of its physical branches.  

SWIFT codes for Nigerian banks 

Here is a list of the SWIFT codes for 38 Commercial, Merchant, Payment Service, and non-interest banks in Nigeria. 


Bank Name  SWIFT code 
9 Payment Service Bank Ltd  IPSBNGLA
Access Bank Plc ABNGNGLA
Citibank Nigeria Limited  CITINGLA
Coronation Merchant Bank  CMBBNGLA
Ecobank Nigeria Plc  ECOCNGLA
FBN Merchant Bank  KDHLNGLA
Fidelity Bank Plc  FIDTNGLA
First Bank Nigeria Limited FBNINGLA
First Bank Nigeria Limited (Custodian Services) FBNINGLAGCS
First City Monument Bank Plc  FCMBNGLA
First City Monument Bank Plc (electronic banking) FCMBNGLAWEB
Globus Bank Limited  GLOUNGLA
Greenwich Merchant Bank  GMBLNGLA
Guaranty Trust Bank Plc  GTBINGLA
Heritage Banking Company Ltd.  HBCLNGLA
Hope Payment Service Bank Ltd  HPSBNGLA
Jaiz Bank Plc JAIZNGLA
Keystone Bank Limited  PLNINGLA
Lotus Bank Ltd  LOTUNGLA
Moneymaster Payment Service Bank Ltd  MMPSNGLA
Nova Merchant Bank  NVMBNGLA
Parallex Bank Ltd  PARANGLA
Polaris Bank Plc  PRDTNGLA
Premium Trust Bank  PTRUNGLA
Providus Bank UMPLNGLA
Rand Merchant Bank FIRNNGLA
Stanbic IBTC Bank Plc  SBICNGLX
Standard Chartered Bank Nigeria Ltd.  SCBLNGLA
Sterling Bank Plc  NAMENGLA
SunTrust Bank Nigeria Limited  SUTGNGLA
TajBank Limited  TAJJNGLA
Titan Trust Bank Ltd  TTRUNGLA
Union Bank of Nigeria Plc  UBNINGLA
United Bank For Africa Plc  UNAFNGLA
Unity Bank Plc ICITNGLA
Wema Bank Plc  WEMANGLA
Zenith Bank Plc ZEIBNGLA


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