Intercontinental Bank moves to 10-digit account numbering

Lagos -  Intercontinental Bank says it has successfully migrated  its over four million customers’ accounts to the CBN approved 10-digit Nigerian Uniform Bank Account Number (NUBAN) system.

This was disclosed in a statement issued by the bank in Lagos on Wednesday.

“The Bank has completed the integration of over four million customers’ accounts to the new 10-digits NUBAN format with the generation of new 10-digits account numbers for all our Happy Customers,” it said.

The statement said that the bank had sent out notices to its customers via e-mails, text messages, letters and advertorials at branches advising them on the change to a new 10-digits account number.

The statement quoted Mr Eddy Ademosu, Group Head, Corporate Communications of the bank, as saying that “a 10-digit account number is simple to recall by our customers as against the longer 16 digits numbering”.

“Our customers  can easily quote the new numbers and avoid the risks associated with wrong entries which hinders completion of financial transactions.

“The adoption of a 10-digit NUBAN by Intercontinental Bank has made it compliant with global best practices in line with International Organisation for Standardisation (ISO),” he said.

The CBN directed all banks to implement the NUBAN to reduce cost of operations and increase efficiency of automated direct credit  processing and resolve e-payment related challenges.

It gave them a deadline of end of June to comply. (NAN)