OPAY Swift/BIC and Sort Code

OPAY is one of the most popular mobile money service providers in Nigeria and other countries in Africa. However, it's important to note that the mobile money app remains at locally operated mobile money service provide which implies that it does have a SWIFT/BIC for international money transfer.

According Capitalist Ledger, a SWIFT code is a unique Bank Identifier Code (BIC) that showcases banks that receives foreign currency from other financial institutions around the world. In other words, we can refer to SWIFT/BIC as a remittance code that facilitates cross-border transactions.

In this case, OPAY does not possess a SWIFT/BIC. Instead, the mobile money have a NIBSS code, popularly known as sort code in Nigeria. The OPAY Sort code function exactly like a SWIFT Code in the sense that it is used to facilitate inter-bank transfers between Nigeria's banks.

However, I want you to take note that many blogs are point that OPAY have a specific SWIFT/BIC which are OPAHGB22XXX, OPAHGB22, and many more. Please consider these as false information because OPAY is not a international money transfer (IMT) agent and the company has not announced receiving a new operating license as an IMT provider.

OPAY Sort Code

Normally, a sort code is a unique six-digit number used by banks in the UK and Ireland to identify specific branches or bank locations. It helps route money to the correct bank when processing domestic transfers, such as direct deposits, standing orders, or bill payments.

However, Nigeria's Sort Code is NIBSS code. NIBSS means Nigeria Inter-Bank Settlement System and many Nigerians did not know it as such. Instead, they call it a sort code.

The NIBSS is a financial infrastructure company in Nigeria that provides the framework for inter-bank transactions and payments. NIBSS was established in 1993 by the Central Bank of Nigeria (CBN) and all licensed banks in Nigeria to facilitate electronic payments, settlements, and clearing among banks and financial institutions in the country.

It helps to provide real-time, inter-bank fund transfers, process bulk payments like salaries, pensions, and dividends, settle payments electronically (EFTs) between different banks and offers a unique identifier (BVN) for every customer in Nigerian banks to combat identity fraud.

Sort codes are typically formatted as three pairs of numbers, like this: 12-34-56. The first two digits often indicate the bank itself, while the remaining four identify the branch or specific department. In such regard does NIBSS offers it codes. For example, the OPAY NIBSS/SORT Code is 999992.