How to Find SWIFT Code of Any Nigerian Bank
A SWIFT code, also called a BIC in many international banking contexts, is an identifier used to identify a financial institution for international payments. If someone wants to send money to a Nigerian bank from another country, the sender may be asked for the receiving bank’s SWIFT or BIC information.
Finding the correct code is important because using an incorrect code can delay, reject or misroute an international payment. Customers should therefore obtain the code from the bank or another authoritative source rather than copying an unverified code from a random website.
What Is a SWIFT Code?
A SWIFT/BIC code identifies a financial institution within the international payment system. It is commonly made up of eight or eleven characters.
The code can identify the institution and, where applicable, a particular branch or location.
SWIFT Code Structure
| Part | Purpose |
|---|---|
| First 4 characters | Institution identifier. |
| Next 2 characters | Country identifier. |
| Next 2 characters | Location identifier. |
| Final 3 characters | Optional branch identifier. |
Why You Need the Correct Code
International payments depend on accurate banking information. A transfer can involve the receiving bank, the sending bank and one or more intermediary institutions.
If the beneficiary gives you a SWIFT code, do not modify it. Copy it exactly and confirm that it belongs to the intended bank.
How to Find a Nigerian Bank’s SWIFT Code
1. Check the Bank’s Official Website
Start with the official website of the Nigerian bank. Search for international banking, foreign transfer, correspondent banking or SWIFT information.
2. Contact the Bank
If you cannot find the information online, contact the bank using its official customer-service channel and ask for the SWIFT/BIC information required for your particular transaction.
3. Check Your Bank Statement or Transfer Instructions
Some banks provide international banking information on account statements, transfer forms or official correspondence.
4. Ask the Beneficiary’s Bank
If you are receiving money, ask your Nigerian bank to provide the exact information that the sender should use.
Do Not Confuse SWIFT With Account Number
A SWIFT code is not a replacement for the customer’s bank account number. An international transfer may require both the receiving bank’s international identifier and the beneficiary’s individual account information.
SWIFT and IBAN Are Different
SWIFT/BIC and IBAN serve different purposes. A SWIFT/BIC identifies the financial institution, while an IBAN identifies a particular bank account within countries that use the IBAN system.
Nigeria does not use the same IBAN structure as countries where IBAN is mandatory. For a Nigerian beneficiary, follow the exact information provided by the Nigerian bank.
What Else Does the Sender Need?
Depending on the destination and bank, the sender may need:
- Beneficiary’s full name.
- Nigerian bank name.
- Account number.
- SWIFT/BIC.
- Bank address.
- Beneficiary address.
- Payment purpose.
- Intermediary-bank details where required.
How to Avoid International Transfer Errors
Ask the recipient to provide the complete banking instructions directly from their bank. Do not rely on an old transfer receipt because banking details can change.
For a large payment, independently verify the instructions before sending. A phone call to a known contact or confirmation through an established business channel can help prevent payment fraud.
What If the SWIFT Code Is Rejected?
Do not substitute a different code simply because it appears on a search engine. Contact the receiving bank and ask which SWIFT/BIC should be used for the specific type of transfer.
Frequently Asked Questions
How many characters does a SWIFT code have?
SWIFT/BIC identifiers are commonly eight characters, with an optional three-character branch identifier making eleven.
Can I find a bank’s SWIFT code online?
Yes, but the safest approach is to confirm it through the bank’s official information or directly with the bank.
Is SWIFT the same as an account number?
No. SWIFT/BIC identifies a financial institution, while the account number identifies the customer’s account.
Can a wrong SWIFT code cause problems?
Yes. Incorrect international banking information can cause delays, rejection or the return of a payment.
Conclusion
The safest way to find a Nigerian bank’s SWIFT code is to obtain the information directly from the bank or from official transfer instructions. Never guess an international banking identifier, especially for a large payment. Verify the SWIFT/BIC together with the beneficiary’s name, account number, bank name and any intermediary-bank information required for the transaction.
