Coronation Merchant Bank Sort Code in Nigeria: Bank Code and Routing Details
Coronation Merchant Bank is a Nigerian merchant bank, and its banking details can appear in corporate payment instructions, investment documents and institutional transactions. When searching for a Coronation Merchant Bank sort code, it is important to distinguish the bank’s institutional code from a complete nine-digit Nigerian routing number.
Coronation Merchant Bank Bank Code
Coronation Merchant Bank is commonly identified by institutional bank code 559.
That code is also listed by current payment-service references as the bank code for Coronation Merchant Bank. It is a short institution identifier and should not automatically be described as a complete nine-digit sort code.
Documented Coronation Sort Code
A nine-digit sort code that appears in a Coronation Merchant Bank corporate transaction document is:
559159994
The number was published in connection with a designated receiving account. It demonstrates a valid nine-digit routing identifier associated with a Coronation Merchant Bank transaction, but it should not automatically be assumed to be the universal sort code for every Coronation account.
Why 559 and 559159994 Are Different
The first three digits identify the institution at the short-code level. The complete nine-digit routing number contains additional information used for domestic payment routing.
This is why publishing “Coronation sort code: 559” without explaining the difference can mislead users.
Coronation Merchant Bank Sort Code
| Information | Value |
|---|---|
| Bank | Coronation Merchant Bank Limited |
| Institutional bank code | 559 |
| Documented nine-digit sort code | 559159994 |
| Bank category | Merchant bank |
Should You Use 559159994?
Only when it corresponds to the account and payment instruction involved in your transaction.
A sort code can be associated with a particular banking arrangement. Therefore, it is not safe to assume that one documented nine-digit code should be used for every Coronation Merchant Bank account.
Where Is Coronation Merchant Bank Located?
Coronation Merchant Bank is headquartered in Victoria Island, Lagos. Its current NDIC listing gives its address as 10 Amodu Ojikutu Street, off Saka Tinubu Street, Victoria Island, Lagos, Nigeria.
This information can help distinguish Coronation Merchant Bank from similarly named financial institutions.
How Coronation Sort Codes Are Used
For domestic Nigerian transactions, a sort code can provide routing information in addition to the beneficiary’s account number.
However, many modern banking applications no longer require customers to manually enter a sort code. Instead, the receiving bank is selected and the account number is validated electronically.
Corporate and institutional forms may still request the full code.
Coronation Merchant Bank and International Transfers
Do not confuse a Nigerian sort code with a SWIFT/BIC code.
International transfers normally require international banking information rather than simply the domestic nine-digit sort code. The beneficiary should provide the current instructions from the receiving institution.
Common Coronation Sort Code Mistakes
- Using 559 as a nine-digit sort code.
- Assuming 559159994 applies to every Coronation account.
- Using a corporate transaction code for an unrelated payment.
- Confusing sort code with SWIFT/BIC.
- Relying on an old payment document without checking whether the instructions remain current.
How to Verify a Coronation Payment
Before transferring money, confirm the beneficiary name, account number, bank name and routing information. If the payment is connected to an investment, rights issue, corporate offer or other financial transaction, use the official transaction document rather than an unrelated online bank-code list.
Frequently Asked Questions
What is Coronation Merchant Bank’s bank code?
The commonly published institutional bank code is 559.
What is 559159994?
559159994 is a documented nine-digit Coronation Merchant Bank sort code appearing in a corporate transaction document.
Is 559159994 the universal Coronation sort code?
It should not be assumed to be universal. Confirm the routing information for the particular account and transaction.
Is Coronation Merchant Bank a commercial bank?
No. It is a merchant bank and serves corporate and institutional financial needs.
Final Takeaway
Coronation Merchant Bank is commonly identified with bank code 559, while 559159994 is a documented full nine-digit sort code associated with a specific transaction. Use the exact routing information supplied for your particular payment instead of treating either number as universally applicable.