AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
The SWIFT/BIC code for Coronation Merchant Bank Limited is CMBBNGLA, or CMBBNGLAXXX in 11-character form for its head office at 10 Amodu Ojikutu Street, Victoria Island, Lagos. A sender also needs the exact account name and number and should send in the currency of the receiving account. Confirm the code and any intermediary bank with Coronation before a first payment.
If you are being paid from abroad into a Coronation Merchant Bank account, or you are paying a supplier who banks there, the SWIFT code is the piece that tells the international network which bank to deliver to. It is the same for every customer of the bank; your account number is what makes the payment yours.
Coronation Merchant Bank SWIFT details
| Item | Detail |
|---|---|
| Bank name on the SWIFT record | CORONATION MERCHANT BANK LIMITED |
| SWIFT/BIC (8 characters) | CMBBNGLA |
| SWIFT/BIC (11 characters) | CMBBNGLAXXX |
| Branch | Head office (XXX) |
| Address on the record | 10 Amodu Ojikutu, Coronation House, Lagos |
Source: Xe's SWIFT directory entry for CMBBNGLAXXX, checked in October 2026, which notes that XXX refers to the head office. Coronation's own contact page gives the head office as 10 Amodu Ojikutu Street, off Saka Tinubu Street, Victoria Island, which matches. Coronation's site does not display the SWIFT code on the pages we read, so take the final confirmation from the bank or your account letter.
Reading the code
- CMBB
- Bank code for Coronation Merchant Bank
- NG
- Nigeria
- LA
- Lagos
- XXX
- Primary office. CMBBNGLA and CMBBNGLAXXX reach the same place.
What to give the person paying you
| Field on a typical transfer form | What to enter |
|---|---|
| Beneficiary name | Exactly as on the Coronation account, including "Limited" for a company |
| Beneficiary account number | Your Coronation account number |
| Beneficiary bank | Coronation Merchant Bank Limited |
| Bank address | 10 Amodu Ojikutu Street, Victoria Island, Lagos, Nigeria |
| SWIFT/BIC | CMBBNGLA or CMBBNGLAXXX |
| Intermediary bank | Only if Coronation gives you one for that currency |
| Payment reference | Invoice number or purpose, in plain words |
Ask Coronation which currency your account is in. Paying dollars into a dollar account avoids a conversion; paying dollars into a naira account means the money is converted on arrival at the rate applied then.
Charges and timing
Three parties can take a fee on an international payment: the sender's bank, any intermediary bank, and the receiving bank. On the form, the sender usually picks whether they pay all charges, share them, or pass them to you. Coronation publishes a Service Charges and Rate Guide linked from its website footer; check it, or ask the bank, for its current charge on inward transfers. We have not quoted a figure because we could not confirm one in October 2026. Timing depends on the route and on compliance screening at each bank. For a comparison of rails, see SWIFT vs local payment rails.
Errors that hold payments up
- A name that does not match. Trading names, abbreviations or a missing "Limited" can trigger a compliance hold.
- Intermediary details in the wrong field. If Coronation gives you a correspondent bank, its code goes in the intermediary field and CMBBNGLA stays as the beneficiary bank.
- Old account details. Re-check details from an old invoice before reusing them.
- No stated purpose. Incoming payments are screened; a clear purpose, such as an invoice number, helps.
Receiving for a company
For corporate accounts, the bank may ask for supporting documents on large or unusual inflows, such as a contract, invoice or the reason for the payment. Having them ready shortens the time between the money arriving and it being available. If you expect regular payments from the same overseas customer, tell your relationship manager in advance.
Before a large payment
- Confirm the SWIFT code and any intermediary bank with Coronation by phone or email; contacts are on our Coronation customer care page.
- Send a small test payment if the amount is large and the route is new.
- Confirm any change of bank details by calling a number you already trust; altered invoices are a common fraud.
- Keep the SWIFT confirmation (MT103) the sender's bank issues. It is the proof you need if the money is delayed.
For how SWIFT codes relate to IBANs, sort codes and routing numbers, read IBAN, sort code, routing number and SWIFT.
Where Pryme fits
Freelancers and small businesses paid from the UK, Europe or the US can use a Pryme account's local GBP, EUR and USD details, so a payer in those markets can often use a local transfer instead of SWIFT. Funds stay in the currency they arrived in until you choose to convert. See multicurrency accounts.
Questions people ask
What is Coronation Merchant Bank SWIFT code?
CMBBNGLA, or CMBBNGLAXXX for the Lagos head office.
Is CMBBNGLAXXX different from CMBBNGLA?
No. XXX denotes the head office, and both forms route to the same bank.
What address should I use for Coronation Merchant Bank on a SWIFT form?
10 Amodu Ojikutu Street, Victoria Island, Lagos, Nigeria, as on the bank's contact page and the SWIFT record.
How much does Coronation charge for receiving international transfers?
Check the bank's Service Charges and Rate Guide on its website or ask the bank for the current charge.
Sources
- CMBBNGLAXXX SWIFT code, Coronation Merchant Bank Limited (Xe) · accessed Oct 2026
- Coronation Merchant Bank: Contact · accessed Oct 2026
- Coronation Merchant Bank: homepage (services and footer) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.