NUBAN: Meaning, Benefits, and History

History of the NUBAN Account Number

The Central Bank of Nigeria issued a decree to force all banks to provide account numbers of not more than 10 digits. This is what is known as Nigeria Uniform Bank Account Number, bank accounts not more than 10 digits.

What is NUBAN Number

NUBAN is an acronym that stands for Nigeria Uniform Bank Account Number. NUBAN is a 10- digit bank account numbering system. This means that the NUBAN number is also the same as the bank account number. It was adopted in 2011 and has become common today. Prior to this time, the account numbering structures were longer. NUBAN conforms to the requirements of the West Africa Monetary Institute. Every bank in Nigeria today is required to have its own unique NUBAN code for the account of its customers; Current accounts, deposit and saving accounts.

The NUBAN number has to be included in the customer’s database of the bank. This is because any transaction or interaction with a customer requires the NUBAN account number.

The NUBAN number is generated for an individual and active customer of every approved Nigerian bank including the Central bank of Nigeria. The NUBAN numbers were made active on the 24th of May 2011.

 Reason for the Adoption of NUBAN

One of the major reasons for the adoption of NUBAN was because it could be easily managed by both employees of the bank and the bank customers. The former traditional and longer account numbers were quite difficult to quote which made it a common problem.

Benefits of having a NUBAN Account Number

The NUBAN Account system has many advantages. First is its convenience. The 10 digit number is simple and can be easily managed.

The 10 digits also keep you from the risk of quoting account numbers wrongly- this risk is well associated with the former account numbers which were longer.

The current NUBAN account system makes it easy for banks to validate customer accounts. It also facilitates easier and faster handling of e-payments.

How to Obtain your NUBAN Account Number

In order to get your NUBAN account, all you will have to do is visit any of the banks in Nigeria. For example, if you want a NUBAN account number from First Bank, then you will have to visit any of the First Bank branches near you.

You will then be given a form to fill and then choose the account type. You will be required to present some documents, which include the Birth certificate, ID Card, state of origin. The documents required vary from bank to bank.

Some banks allow you to open a preliminary account by just dialling the unique USSD banking code associated with the particular bank. After this, you will get your unique 10- digit NUBAN account number.

How to obtain your own NUBAN Account Number on the phone when using GTBank

If using the SMS method, follow the following steps:

  1.   Select the ‘Create New Text Message’
  2.   Enter the number 08076665555 as the recipient of the message
  3.   ‘Create New Message’
  4.   Type ‘my account’

If you are sending an email, follow the same steps as written above.

Wait a few minutes to receive a message with your full name and account number. It is very important that you know your NUBAN number to make for easier transactions.

How to retrieve your NUBAN Account Number when forgotten

The different banks in Nigeria have different means for their customers to get back their forgotten or misplaced NUBAN number. While some only require that you dial a simple USSD code then provide the mobile phone number linked to your bank account.

You could also visit the closest branch of your bank which you have an account with and meet with the customer care representative that you have forgotten your account number.

You may also be required to provide the following information:

  •   Full name
  •   Phone number linked to your bank account
  •   Next of kin
  •   Date of Birth
  •   The branch of the bank which you registered your account
  •   Residential address

This information is used to confirm that you actually own an account with the bank in question.

Criticisms of the existing NUBAN Scheme

There have been cases of the same NUBANs existing in different banks. This has been occurring increasingly as more NUBAN’s are generated. This ultimately defeats the purpose of NUBAN as a unique bank account identifier for each bank customer in Nigeria. This way, with its faults, NUBAN’s uniqueness depends on the customer or user’s conscious usage of bank codes/bank names with the NUBAN.