How To Verify Any Nigerian Bank Account Number - NUBAN

Education Feb 06, 2017
How To Verify Any Nigerian Bank Account Number - NUBAN
NUBAN - Nigerian Uniform Bank Account Number

Verifying a Nuban account number doesn’t necessarily require but the stress of logging on to your Internet banking platform or asking the rude customer service officials at your bank.

Nuban number is the new general ten digit account number mandated by the Central Bank of Nigeria.

To immediately confirm any Nigerian 10-digit NUBAN bank account,

Visit, http://196.6.103.15/numap/faces/PublicVerify.jsp

Fear not, it is the Nigerian Inter-Bank Settlement System (NIBSS) weblink.

It will immediately verify the account number and tell you if such account is valid or not.

All you need to do is just select the particular bank from drop-down list and type in the account number you want to verify.

NUBAN?



Recently, all Nigerian banks have been advising their customers to get their new 10-digit account numbers. This is called the NUBAN. The CBN released the Guidelines on NUBAN scheme in August, 2010, to achieve uniform customer bank account numbering structure among all Deposit Money Banks.

What is the NUBAN?

NUBAN is an acronym for Nigerian Uniform Bank Account Number.

NUBAN has great potentials to resolve the observed problems with electronic payments in Nigeria, as many of them are related to specification of wrong beneficiary account numbers. All Deposit Money Banks are advised to adopt this uniform algorithm to obtain the check digit component of the NUBAN codes of their customer account numbers.

Transition

Previously, different banks have used different account number formats for their customers. Some were less than or more than 10 digits. Some banks even used their customers mobile numbers as their account numbers. Which bank was that? I forgot.

While this diversity had its advantages, the disadvantages were greater as we are moving to the electronic payment era.

The NUBAN codes should be communicated to existing customers as soon as the codes become available. Also, the owners of all new bank accounts opened from January 01, 2011, should be
provided with NUBAN codes at the onset. The NUBAN scheme requires that the account number field in the cheque MICR code line should feature only NUBAN numbers.

Accordingly, all new cheques issued to customers should carry NUBAN codes.

With this transition method, the present account numbers and NUBAN codes would co-exist in the electronic payment and cheque clearing systems from January 2011 to June 2011. This implies that banks have to build in the required intelligence in their respective in-clearing systems to distinguish NUBAN codes from old account numbers while processing inward cheque items and electronic payment instruments, during this transition period.

Deadline?

The deadline for full NUBAN compliance was June 2011. Therefore only instruments (paper and electronic) that carry NUBAN codes and pass the NUBAN validation test (that is, instruments with correct check digit) would be allowed in the automated clearing system as from this date.


Why the NUBAN?

NUBAN is being introduced to:
1. Align Nigerian bank account numbers with international best practices

2. Facilitate direct electronic funds transfer between banks

3. Reduce errors on transfer advice between banks with non-uniform account numbers

4 Reduce risk of customers quoting wrong account numbers on any of their transactions

A bank cannot choose not to migrate to NUBAN. The decision to migrate is a directive from CBN which must be adhered to by all banks operating in Nigeria as CBN remains the regulator of the industry.

So far, the exercise has had its expected challenges but many banks and their customers have been enjoying the advantages of the NUBAN.

Go get your own NUBAN today! :good:

Did you ask if all these were really necessary? Have you had any experiences with the NUBAN? Do you have further questions? Lets gist here and here. Simply post a reply below.



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