2010-01-29 | BOD/PSV2020/OPS/144C

Nigeria Uniform Bank Account Number Proposal

The Nigerian Interbank Settlement Systems (NIBSS) introduced the National Uniform Bank Account Number (NUBAN), a 10-digit account number format with a check digit constructed to support a modulus check, to address issues related to the ACH system in Nigeria. The proposed implementation strategy involves a six-month period for banks to fully implement NUBAN. NUBAN is compliant with the West Africa Monetary Institute's 10-digit account number requirements and helps resolve the present ACH issues by promoting electronic payment adoption, efficient operation of the ACH system, and minimizing abuse along the ACH value chain.

Nigeria

Central Bank of Nigeria

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