2020-03-11 | PSM/DIR/CON/CWO/05/030

Revised Standards on Nigeria Uniform Bank Account Number (NUBAN) for Banks and Other Financial Institutions

The Central Bank of Nigeria (CBN) issues revised standards for the Nigeria Uniform Bank Account Number (NUBAN) system, expanding its scope to include Other Financial Institutions (OFIs) alongside Deposit Money Banks (DMBs). The NUBAN format consists of 16 digits, including a check digit for account number validation, with a deadline for full compliance set for March 15, 2021. The CBN emphasizes the importance of these standards for the efficient operation of electronic funds transfer and cheque clearing operations in the country.

Nigeria

Central Bank of Nigeria

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