SWIFT codes in Nigeria
NG · NGN
89 banks in Nigeria, from ACCESS BANK PLC (ABNGNGLA) onward; every code carries NG as its country part.
Banks
89
SWIFT codes
1
Branches
1
Currency
NGN
Banks and SWIFT codes in Nigeria
AACCESS BANK PLC
| SWIFT/BIC | City |
|---|---|
ABNGNGLAXXX | VICTORIA ISLAND |
Nigeria SWIFT code questions
What does a Nigeria SWIFT code look like?
ABNGNGLAXXX (ACCESS BANK PLC): bank ABNG, country NG, location LA, branch XXX.
What are the SWIFT codes for major Nigerian banks?
Key Nigerian bank SWIFT codes include: Access Bank — ABNGNGLA, Guaranty Trust Bank (GTBank) — GTBINGLA, Zenith Bank — ZEIBNGLA, First Bank of Nigeria — FBNINGLA, United Bank for Africa (UBA) — UNAFNGLA, Ecobank Nigeria — ECOCNGLA, and Fidelity Bank — FIDTNGLA.
Do I need a SWIFT code to receive money from abroad in Nigeria?
Yes. To receive an international wire transfer in Nigeria, the sender needs your bank's SWIFT/BIC code along with your account number. Nigeria does not use IBAN for domestic accounts. Always provide the SWIFT code, your full account number, your full name as registered with the bank, and the bank branch address. Some banks use a single SWIFT code for all branches; others may have branch-specific codes.
Can I receive USD directly into a Nigerian bank account?
Yes, if you hold a domiciliary account (a foreign currency account) at a Nigerian bank. CBN regulations allow individuals and businesses to hold and operate domiciliary accounts in USD, GBP, EUR, and other approved currencies. Inbound USD transfers can be credited to a domiciliary account without mandatory conversion to naira. Standard naira accounts will have the foreign currency converted to NGN at the bank's official rate.
How long does a SWIFT transfer to Nigeria take?
SWIFT transfers to Nigeria typically take one to three business days. CBN compliance requirements mean that large transfers or those from certain origins may be held for review, adding an extra business day. Transfers from the UK, US, and Europe generally settle within one to two business days. Some remittance providers offer faster delivery using their own Nigerian payout networks.
What is NIBSS and how does it differ from SWIFT?
NIBSS (Nigeria Inter-Bank Settlement System) handles domestic naira transfers between Nigerian banks — it is the equivalent of the ACH system used in other countries. NIBSS cannot receive international payments. SWIFT is used exclusively for cross-border international wire transfers. If you are sending money from abroad to a Nigerian account, the transfer travels via SWIFT to the recipient's bank.
Are there CBN regulations affecting inbound international transfers to Nigeria?
Yes. The Central Bank of Nigeria requires that all inbound foreign transfers be received through a licensed financial institution. Large transfers may require documentation of purpose. CBN has periodically adjusted its foreign exchange policies, including the unification of exchange rates and requirements around domiciliary accounts. Recipients should check with their bank for current CBN guidelines before expecting a large transfer.
Are there fees for receiving a SWIFT transfer in Nigeria?
Nigerian banks typically charge an inbound wire processing fee, often around USD 10–25 or a small percentage of the transfer, depending on the bank and transfer amount. The conversion rate from USD to NGN can vary significantly between banks. For large transfers, it may be worth comparing the effective exchange rate (net of fees and spread) across different banks or remittance providers.
How SWIFT works in Nigeria
The Central Bank of Nigeria (CBN) regulates all cross-border payments, and SWIFT is the backbone of Nigeria's international banking connectivity. Domestic naira transfers use the Nigeria Inter-Bank Settlement System (NIBSS), which operates separately from SWIFT. Nigeria's large diaspora makes inbound remittances one of the highest-volume corridors in sub-Saharan Africa.
- Nigeria's five largest banks — Access Bank, Guaranty Trust Bank (GTBank), Zenith Bank, First Bank of Nigeria, and United Bank for Africa (UBA) — all have SWIFT codes and process the majority of inbound international wires. UBA has a particularly wide presence across African correspondent banking networks, making it useful for intra-African transfers.
- CBN's foreign exchange regulations require that inbound USD transfers be credited to a domiciliary account (a foreign currency account) or converted to naira at the official rate. Holding USD in a domiciliary account is permitted for individuals and businesses. The official rate versus the parallel market rate can differ significantly, so beneficiaries should confirm with their bank which rate applies.
- SWIFT transfers to Nigeria typically take one to three business days. CBN compliance requirements mean that large transfers may be held for review, especially for business payments. Providing a clear payment purpose and matching beneficiary name exactly as registered with the bank can prevent delays.
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