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
For a SWIFT payment from Australia to Nigeria you need the beneficiary's name exactly as the bank holds it, their 10-digit NUBAN account number, the Nigerian bank's SWIFT/BIC code, and, for US dollars, pounds or euros, the Nigerian bank's correspondent bank details for that currency. Add a clear purpose: GTBank, for example, says inflows from individual remitters must state one. Nigeria does not use IBANs, so leave that field to the account number if your bank's form insists on one.
The fields, one by one
Australian banks' international payment forms differ in layout, but they collect the same information because it maps onto the SWIFT payment message. BNZ's published MT103 specification lists the fields in that message: the ordering customer, the ordering institution, an intermediary institution, the account-with institution, the beneficiary, remittance information and the charges code.
- Beneficiary name
- The full name on the account. GTBank asks for it "as captured on BASIS", its core banking system, so ask the recipient to copy it from a statement or the bank app.
- Account number (NUBAN)
- The 10-digit Nigerian account number. For foreign currency, it must be the domiciliary account in the currency you are sending.
- Bank name
- The bank's full legal name, for example Guaranty Trust Bank.
- SWIFT/BIC
- 8 or 11 characters identifying bank, country, location and, optionally, branch. Wise's directory lists GTBINGLAXXX as GTBank's head-office code; XXX denotes head office.
- Intermediary or correspondent bank
- The bank abroad where the Nigerian bank holds its USD, GBP or EUR account, with the Nigerian bank's account number there. GTBank's page lists these as required fields and supplies the values in separate instructions.
- Beneficiary address
- Some forms require it. Use the recipient's address as the bank holds it.
- Purpose or reference
- A plain description, for example "family support" or "school fees". GTBank says individual inflows must state a purpose.
- Charges option
- OUR, SHA or BEN, deciding who bears intermediary and receiving charges.
Why the correspondent details matter
Nigerian banks settle foreign-currency payments through accounts with correspondent banks abroad. GTBank's inward page asks for its account number with the correspondent bank and that bank's name or SWIFT code, and says a transfer takes value when the funds reflect in GTBank's offshore accounts. Without these details, your Australian bank chooses its own route, which can add another intermediary and another deduction.
The correspondent details are specific to each Nigerian bank and each currency, and banks update them. Ask the recipient to get the current inward instructions from their branch or the bank's official app for the exact currency, rather than copying them from a website or a forwarded message.
IBAN, sort code and other fields that confuse people
- IBAN. Swift's IBAN page explains that each country using IBANs has its own format in the IBAN Registry; Nigeria is not mentioned there and Nigerian accounts are identified by the NUBAN. If an Australian form demands an IBAN for Nigeria, ask your bank how to enter the NUBAN instead.
- Sort code. Nigerian banks also have sort codes, but a SWIFT payment is routed by the SWIFT code. Our Nigeria library explains the difference at IBAN, sort code, routing number and SWIFT.
- Branch codes. Wise's directory notes that not every branch has its own SWIFT code and that the head-office code is normally used.
Details to collect from the recipient
- Account name exactly as on their statement.
- 10-digit account number, and confirmation that it is a dom account in USD, GBP or EUR if you are sending one of those.
- Bank's full name and SWIFT code.
- The bank's current inward instructions for that currency, including correspondent bank and account.
- Their address as the bank holds it.
- The purpose they expect the bank to see.
Common errors
- Entering a branch name or city in the SWIFT field instead of the code.
- Quoting the naira account number for a USD payment.
- Using an old correspondent account from a previous year's instructions.
- Shortening the beneficiary's name or leaving out a middle name the bank holds.
Before you approve
Moneysmart reminds senders that the bank's exchange rate margin is a cost separate from the fee, and that international transfers can take up to five business days. Check the amount in the destination currency, the fee and the charges option on the confirmation screen. For how the payment travels, see SWIFT from an Australian bank; for dom accounts, sending to a Nigerian domiciliary account; and if you have already made a mistake, sent to the wrong account number.
Where Pryme fits
A Pryme account gives naira, US dollars, pounds and euros their own account details. Family receiving into Pryme can share those details for each currency, and the app shows the rate and the fee before any conversion or send is approved. See multicurrency accounts.
Questions people ask
What details do I need to send money to a Nigerian bank from Australia?
Beneficiary name exactly as the bank holds it, 10-digit NUBAN, bank name, SWIFT code, the bank's correspondent details for the currency, the recipient's address if asked, and a purpose.
Does Nigeria use IBAN?
Nigerian accounts are identified by the 10-digit NUBAN. Nigeria does not appear on Swift's IBAN page, so enter the NUBAN and ask your bank if its form insists on an IBAN.
Where do I find the correspondent bank for a Nigerian bank?
From the Nigerian bank's own inward instructions for that currency, which the recipient can get from their branch or the bank's official channels.
What is GTBank's SWIFT code?
Wise's SWIFT directory lists GTBINGLAXXX for GTBank's head office. Confirm it with the recipient's bank.
Sources
- GTBank: Foreign currency inward transfer (FX inflow) · accessed Oct 2026
- Wise SWIFT code directory: GTBank Nigeria · accessed Oct 2026
- BNZ: SWIFT MT103 message specification (Nov 2021) · accessed Oct 2026
- Swift: IBAN (International Bank Account Number) · accessed Oct 2026
- Moneysmart (ASIC): Sending money overseas (updated 17 Sep 2026) · 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.