NAMENGLA11-character variant (head office):
NAMENGLAXXXWhether funds come from abroad or another local account, here's how to receive — and what it costs.
Sender uses NAMENGLA + your account number.
Sender uses Wise, LemFi, or Sendwave to deposit into your account.
Receive into OPay, then move to Sterling Bank if needed.
Nigerian banks use a 10-digit NUBAN account number; transfers between banks settle in seconds over NIBSS Instant Payment (NIP).
Money in a Nigerian bank account can move to OPay, PalmPay, Moniepoint, or MoMo PSB wallets instantly via NIP, and back again.
Rail operator: nibss-plc.com.ng
When you actually need a SWIFT code: only for receiving money from another country. NIP handles every domestic nigeria bank-to-bank, bank-to-wallet, and wallet-to-bank transfer at near-instant speed. If the sender is in the same country, SWIFT isn't involved at all — they just need your nuban or phone number.
For inbound international flows, NIP also matters: most modern remittance operators (Wise, Sendwave, LemFi, WorldRemit, TapTap Send) terminate their payouts via this rail rather than via correspondent SWIFT relationships. That's how they deliver in minutes instead of days — and why their all-in cost can be a fraction of a classic SWIFT wire.
Cash pickup is the fourth node in the receiving graph: Western Union, MoneyGram, Ria, RemitOne. These remain expensive but are the only option in some last-mile situations (no bank account, no wallet, urgent cash need). Mobile money cash-out via an agent network is increasingly the cheaper alternative — see our country mobile-money fee page for current cash-out rates.
One practical tip: if you're expecting a payment from abroad, ask the sender to choose the destination based on speed and amount. Small frequent payments below US$1,000 are almost always cheaper via a remittance app to your wallet. Mid-size payments (US$1,000–10,000) work well to your bank account via the same apps. Genuinely large payments (above US$50,000) are usually only practical via a SWIFT wire, even though they're the most expensive per dollar at that band.
| Bank code | Country | Location |
|---|---|---|
| NAME | NG | LA |
| Sterling Bank | NG (Nigeria) | Lagos |
An 11-character variant like NAMENGLAXXX also indicates the head office — the trailing 'XXX' is the default. Codes ending in different sequences (e.g. 'NAMENGLA001') refer to specific branches.
Check any SWIFT/BIC code is correctly formatted before a transfer.
vs NGN (Nigerian Naira)
Sterling Bank traces its roots to NAL Bank (1960) and was rebranded as Sterling Bank in 2006 after a five-way merger that combined NAL Bank, Magnum Trust Bank, NBM Bank, INMB Investment Bank, and Trust Bank of Africa. Today Sterling operates approximately 160 branches in Nigeria with a particular focus on agriculture, education, health, and renewable-energy lending under its "HEART" strategy. The bank is publicly listed on the Nigerian Exchange. The legacy bank code NAME (from NAL Merchant) is retained in the SWIFT code NAMENGLA, which routes diaspora wires to the head office at 20 Marina, Lagos. Long form: NAMENGLAXXX.
20 Marina, Sterling Towers, Lagos
Map centred on Lagos. Click "View on OpenStreetMap" below for precise location.
Sterling Bank — Nigeria's commercial bank (founded 2006) — has the SWIFT/BIC code NAMENGLA. The 8-character base BIC NAMENGLA targets the Lagos head office; the 11-character variant NAMENGLAXXX names that same head office explicitly. You only need it for receiving an INTERNATIONAL wire (from another country). For transfers from another Nigeria account, you just use your account number plus the domestic rail (NIP).
Yes. Operators like WorldRemit, Sendwave, Afriex, and Flutterwave Send let a sender abroad deposit directly into OPay without going through your Sterling Bank account. It's usually faster and cheaper than a SWIFT wire for smaller amounts. You can then move funds to Sterling Bank via NIP if needed.
Via NIBSS Instant Payment (NIP), which interconnects banks and wallets in real time. From the Sterling Bank app: add OPay as a beneficiary with your phone number, and the transfer arrives instantly. See our Nigeria mobile money fees page for the exact cost.
For amounts under ~US$5,000, a remittance app (Wise, LemFi, Sendwave) depositing direct to your Sterling Bank account is almost always cheaper than a classic SWIFT wire — lower fees and a rate closer to mid-market. For larger amounts, compare SWIFT vs app on our Nigeria inbound transfer comparison.
Yes. Sterling Bank is connected to NIBSS Instant Payment (NIP), which enables near-instant transfers to other Nigeria banks and to mobile money wallets (OPay, PalmPay, Moniepoint). This is the infrastructure remittance apps use behind the scenes to deliver in real time.
Source: Sterling Bank's official website + Wise SWIFT directory. Last verified: 2026-06-04. SWIFT codes change rarely but always confirm with your bank before initiating a transfer. Educational only — not financial advice.