Lotus Bank SWIFT Code in Nigeria: LOTUNGLA and LOTUNGLAXXX
Lotus Bank Limited uses the SWIFT/BIC identifier LOTUNGLA for international banking identification. The corresponding 11-character form is LOTUNGLAXXX. These identifiers can be requested when money is being sent to a Lotus Bank account from outside Nigeria or when international payment instructions require the receiving bank’s BIC.
Lotus Bank SWIFT code at a glance
| Bank | Lotus Bank Limited |
|---|---|
| 8-character BIC | LOTUNGLA |
| 11-character BIC | LOTUNGLAXXX |
| Country | Nigeria |
| Listed location | Lagos, Nigeria |
Current public BIC directories list LOTUNGLAXXX as the head-office form. Public directory records differ on the exact address associated with the listing, so anyone preparing a substantial transfer should use the current address and payment instructions supplied directly by Lotus Bank.
What does LOTUNGLA mean?
The first four characters, LOTU, identify Lotus Bank. The next two characters, NG, represent Nigeria. The final two characters, LA, form the location component.
When XXX is added, the result becomes the 11-character BIC LOTUNGLAXXX. XXX is conventionally used for the main or head-office BIC rather than a separately named branch.
When is a Lotus Bank SWIFT code required?
The code is primarily relevant when an international bank or payment provider needs to identify Lotus Bank as the receiving financial institution. A person sending money from abroad may be asked for the beneficiary bank’s BIC together with the beneficiary’s account information.
For example, a sender in the United Kingdom paying a Nigerian account may be asked for the recipient’s name, account number, bank name, SWIFT/BIC and additional payment information. A sender in the United States may receive a similar request, although the exact form and intermediary requirements can differ.
What information should you give the sender?
- Full beneficiary name.
- Lotus Bank account number.
- Bank name.
- SWIFT/BIC: LOTUNGLA or the exact 11-character code supplied by the bank.
- Bank address where required.
- Currency and amount.
- Payment purpose or reference where applicable.
- Correspondent-bank information where required.
The recipient should not invent missing information. If the sender asks for a correspondent bank or intermediary BIC, obtain the exact details from Lotus Bank for the currency being received.
LOTUNGLA vs LOTUNGLAXXX
LOTUNGLA is the eight-character BIC. LOTUNGLAXXX is its 11-character head-office form. A payment platform may accept one form and reject another depending on its field requirements.
If the receiving instructions supplied by Lotus Bank specifically state LOTUNGLAXXX, use that complete code. If the bank supplies the eight-character LOTUNGLA for the transaction, use the eight-character version where the payment form allows it.
Does every Lotus Bank branch have a separate SWIFT code?
No assumption should be made that every physical branch has its own international BIC. Public listings can show only the institution’s principal BIC even when a bank has multiple branches.
If the beneficiary’s account is associated with a branch that has been given a specific BIC by Lotus Bank, use the bank’s supplied code rather than constructing one yourself.
SWIFT code vs Lotus Bank account number
These details perform different jobs. The BIC identifies the financial institution in an international payment network. The account number identifies the customer’s account at that institution.
A transfer normally needs both pieces of information because identifying the bank does not identify the individual account that should receive the money.
Do Nigerian Lotus Bank accounts use IBAN?
Nigeria is not generally an IBAN-based domestic banking jurisdiction. That does not mean an overseas payment provider will never ask for an IBAN field. Payment requirements are determined partly by the sending and receiving countries and the payment system being used.
If an international payment form incorrectly assumes every country uses IBAN, the sender should follow the receiving bank’s actual instructions rather than inventing an IBAN.
Common Lotus Bank SWIFT mistakes
- Confusing LOTUNGLA with another Nigerian bank’s BIC.
- Entering an incorrect number of characters.
- Adding a made-up branch suffix.
- Using an old bank address without checking current instructions.
- Providing an incorrect beneficiary account number.
- Ignoring correspondent-bank instructions.
Frequently asked questions
What is the Lotus Bank SWIFT code?
The publicly listed eight-character BIC is LOTUNGLA.
What is the 11-character Lotus Bank SWIFT code?
The listed head-office form is LOTUNGLAXXX.
Can I receive money from abroad into Lotus Bank?
International payment availability and the required receiving route depend on the currency, account and payment type. Confirm the current receiving instructions with Lotus Bank before sending.
Is LOTUNGLAXXX the same bank as LOTUNGLA?
Yes. The 11-character version extends the eight-character BIC with the XXX head-office suffix.