UNITED BANK FOR AFRICA PLC, BIC/SWIFT Code Details
Branch name: BAYERO UNIVERSITY BR.
Address: UBA HOUSE 57 MARINA LAGOS, NIGERIA
General instructions for international payments to banks in NIGERIA:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address). Central Bank: For additional information, please refer to Central Bank of Nigeria.
Country Requirements/Restrictions: Payments related to investments from foreign investors require a Certificate of Capital Importation (CCI) and should be sent in USD only, as the beneficiary bank must perform the conversion onshore. Remitter must request the beneficiary to apply for the CCI from their local bank in Nigeria prior to initiating the USD payment. The beneficiary bank will issue the CCI once the funds are converted and credited to the beneficiary account. Failure to obtain a CCI may result in difficulties when repatriating interests, profits, dividends and original investment amount. Effective immediately, Payments to individuals from corporations/organizations are permitted again. However, where the underlying remitter is an individual such payments are still not permitted. Payments between corporations/organizations continue to be supported.
Payment Formatting Rules for NGN: Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary. Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials) address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. Include the beneficiary’s 10-digit NUBAN account number. Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. There are no specific bank clearing codes for this country for cross-border payments. SWIFT BIC is key to routing payments to the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNGxx or xxxxNGxxxxx. Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.
IBAN: No
Standard Settlement Instructions (SSI) contain the list of correspondent banks of UNITED BANK FOR AFRICA PLC for each currency.
To track a SWIFT cross-border payment to or from UNITED BANK FOR AFRICA PLC, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.