All Nigeria Banks SWIFT Codes: SWIFT BIC Code for Wire Transfer to Nigeria

All Nigeria Banks SWIFT Codes – Swift Code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. It is as well a means of exchanging messages between them (banks).

The registrations of Swift Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and their headquarters is located in La Hulpe, Belgium. SWIFT is the registered trademarks of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.

Don’t get confused when being asked for a Sort code. There is a difference between SWIFT CODE and SORT CODE.

The SORT CODES are bank branches. It is a number which usually identifies both the bank and the branch where an account is held and it is used when transferring funds from one account in one bank branch to another branch of the bank or another bank.

Therefore, you shouldn’t be needing it if you are filling for an international Wire transfer.

But in a situation where you are running a transaction within Nigeria, you may be needing it. However, it’s totally optional because money can still hit the account successful without a sort code.

How SWIFT Code / BIC Is Arranged – “AAAA BB CC“

Checking them generally they are EIGHT DIGITS and each of it stands for;

• First 4 characters – bank code (only letters)
• Next 2 characters – ISO 3166-1 alpha-2 country code (only letters)
• Next 2 characters – location code (letters and digits) (passive participant will have “1” in the second character)

How the Nigeria Bank Swift code Works

The Swift code consists of 8 characters. When 8-digits code is given, it refers to the primary office, which is the Head Office. From the head office the money is transferred to your account provided during your transaction.

This is the reason it takes days for international wire transfers to be cleared.

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