OPay Nigeria SWIFT Code: What It Is and How to Receive International Transfers

A SWIFT code, also called a Bank Identifier Code or BIC, is an international standard identifier used by banks and financial institutions to route interbank wire transfers across borders. When someone abroad wants to send money to a Nigerian bank account using a wire transfer, they need the recipient’s bank SWIFT code to direct the funds to the correct institution. The SWIFT network connects banks in more than 200 countries and is the primary infrastructure for international wire transfers.

Commercial banks in Nigeria have SWIFT codes. Access Bank, Zenith Bank, First Bank, GTBank and the other tier-one and tier-two banks all participate in the SWIFT network and can receive international wire transfers directly. OPay is not in this category.

OPay operates in Nigeria as a payment service bank under a licence from the Central Bank of Nigeria. Payment service banks have a narrower operational scope than full commercial banks. Under the CBNThe Central Bank of Nigeria, which sets interest rates and manages the naira.’s regulatory framework for payment service banks, the institution’s core function is domestic payments, cash deposits, withdrawals, remittances and electronic transfers within Nigeria. Full participation in the international SWIFT network requires a commercial banking licence and meeting the correspondent banking requirements that come with it.

This is not a deficiency in OPay’s capabilities as a domestic payments platform. It reflects a deliberate regulatory category distinction between institutions built for domestic digital payments and those licensed to conduct full international banking operations.

If you have an OPay account and someone abroad wants to send you money in naira, there are practical routes available. The most common is to use a commercial bank account as the receiving account for the international wire, then transfer the funds locally to your OPay wallet once they arrive. Any Nigerian commercial bank account can receive a SWIFT wire from abroad. Opening a basic savings account with a tier-one or tier-two bank for this purpose is straightforward and requires a valid government ID and BVN.

For smaller international transfers or remittances, dedicated money transfer services are often faster and cheaper than SWIFT wires. Services including WorldRemit, Remitly and Western Union allow senders abroad to initiate a transfer to a Nigerian bank account or for cash pickup at a local agent. OPay wallets can receive funds from some of these services where OPay has established partnerships, though the availability of this varies by service and by the sender’s country.

If you need to receive payments regularly in foreign currency, particularly in US dollars, the most practical solution is a domiciliary account at a commercial bank. Domiciliary accounts hold balances in foreign currency, typically dollars, euros or pounds, and can receive international wire transfers directly. When the funds arrive, you can either keep them in the foreign currency or convert them to naira at the prevailing rate. This option is available at most commercial banks in Nigeria and requires the standard documentation for account opening plus an additional declaration of the intended use.

If someone abroad is asking for your SWIFT code and you only have an OPay account, give them your Nigerian commercial bank account details instead: the account number, the account name, the bank name, and the bank’s SWIFT code. You can find any Nigerian bank’s SWIFT code on the bank’s official website or by calling the bank’s customer support line. Once the international transfer arrives in your commercial bank account, you can transfer the naira equivalent to your OPay wallet for use on the platform.

If the sender is sending a relatively small amount, suggest a money transfer service rather than a bank wire. Wire transfers often carry higher fees and can take three to five business days to settle, while dedicated remittance services typically settle the same day or within 24 hours and charge lower fees for small amounts.

OPay’s product range and licensing arrangements change over time. The company has expanded its services significantly since it entered Nigeria and continues to add capabilities. For the most current information on whether OPay has introduced any international transfer features, check OPay’s official website or the CBN’s public registry of licensed financial institutions. As a general rule, any claim about financial services should be verified against the institution’s own official communications rather than third-party sources, which may be outdated.

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Recommend Story 0 Share: About the author Vangawa Bolgent Editor-in-Chief Abuja, Nigeria

Vangawa Bolgent Editor-in-Chief & Journalist | The Gazette News Nigeria Vangawa Bolgent is a Nigerian journalist, editor, and human-centred storyteller with more than a decade… Read full bio →

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