2010-08-30 | BPS/DIR/CIR/01/51

NIGERIA UNIFORM BANK ACCOUNT NUMBER (NUBAN)

The Central Bank of Nigeria (CBN) introduced a Uniform Bank Account Number (NUBAN) system in August 2010 to address issues related to electronic payments, such as wrong account numbers and delayed transactions. NUBAN is a 10-digit bank account number format with a check digit for validation. The NUBAN was designed to align with global best practices and the ISO 13616-1 standard. Banks were given nine months to fully adopt the new system, and any noncompliance would result in severe sanctions imposed by the CBN.

Nigeria

Central Bank of Nigeria

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