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Sterling Bank Sort Codes Across Nigeria



Sterling Bank
  • Sort Codes Sterling Bank in Nigeria

A Sort Code identifies both the bank and the branch where an account is domiciled. A sort code is a 9-digit number with the first 3 digits identifying the bank’s code, while the next digit represents the location and the last 5 digits tell the branch.

Below is the complete list of Sterling Bank sort codes and branches across Nigeria.

1 232150016 HEAD OFFICE
2 232150029 APAPA (CREEK ROAD)
3 232150032 BALOGUN
4 232150045 ADEOLA HOPEWELL, V.I.
5 232150058 IKEJA (OBA AKRAN)
6 232150061 MARINA
8 232150087 IKEJA
9 232150090 APAPA
10 232150100 OKE ARIN
11 232150113 IDUMOTA
12 232150126 IKEJA (ALLEN AVENUE)
13 232150139 VICTORIA ISLAND
14 232150142 DALEKO
15 232150155 WILLOUGHBY
16 232150168 IDDO
17 232150171 IPONRI
18 232150184 OJUWOYE
19 232150197 IGBOSERE
20 232150207 BROAD STREET
21 232150210 ILUPEJU
22 232150223 COKER
23 232150236 IDIMU
24 232150249 IFAKO
25 232150252 IYANA IPAJA
26 232150265 TIN CAN
27 232150278 OPEBI
28 232150281 OTA
29 232150294 IKOYI
30 232150304 IKEJA
31 232150317 BERGER (APAPA)
32 232150320 MARTINS STREET
33 232150333 APAPA
34 232150346 OKE-ARIN
35 232150359 DOPEMU
36 232150362 TRADE FAIR
37 232150375 MATORI
38 232150388 IDUMAGBO
39 232150391 VICTORIA ISLAND
40 232150401 APAPA
41 232150414 IKEJA
43 232110014 KADUNA
44 232110043 KADUNA
45 232100011 ABA
46 232100053 OWERRI
47 232190018 IBADAN
48 232190021 IWO
49 232190034 IBADAN (DUGBE)
50 232190063 IBADAN (J. ALLEN)
51 232120017 KANO
52 232120020 KANO
53 232120033 KANO
54 232120046 KANO
55 232120075 KANO
56 232120143 DUTSE
57 232210011 PORT HARCOURT
58 232210024 PORT HARCOURT
59 232210037 PORT HARCOURT
60 232210040 YENAGOA
61 232210053 PORT HARCOURT
62 232210082 PORT HARCOURT
63 232080018 ABUJA (WUSE)
64 232080021 ABUJA (GARKI)
65 232080034 ABUJA (GARKI)
66 232080047 ABUJA
67 232080050 ABUJA (WUSE)
68 232080092 ABUJA (WUSE)
69 232080102 ABUJA (GARKI)
70 232250013 ONITSHA
71 232250026 ONITSHA
72 232250039 ONITSHA
73 232250110 BRIDGEHEAD
74 232180015 ORE
75 232180028 AKURE
76 232040016 BENIN
77 232250042 ENUGU
78 232040029 ASABA
79 232150456 SURULERE
80 232060012 MAIDUGURI
81 232070015 CALABAR
82 232170012 ABEOKUTA
83 232040032 WARRI
84 232010017 UYO
85 232150443 YABA
86 232200018 JOS
87 232130010 KATSINA
88 232150472 IBRU JETTY
89 232220014 SOKOTO
90 232370016 GUSAU
91 232140013 ILORIN
92 232030013 BAUCHI

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


First Bank, GTBank, UBA, Others Generate N133.92 Billion from Electronic Payment in Nine Months



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Rising investment in financial technologies and the growing adoption of electronic payments have earned 12 Nigerian banks a total sum of N133.92 billion in the first nine months of the year.

Billions spent in ensuring that bank customers have access to their funds and can perform financial transactions 24 hours a day paid off during the COVID-19 lockdown as many customers were able to maintain social distancing by carrying out financial transactions on numerous digital platforms.

Some of the electronic platforms banks generated revenue from in the first nine months were Automated Teller Machine transactions, USSD, online transfer, electronic bills payments, Remita, Point of Sale payments and agency banking, among others.

While some of the twelve banks were Access Bank Plc, First Bank of Nigeria Plc, First City Monument Bank Plc, Fidelity Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc and Sterling Bank Plc.

The other five were Jaiz Bank Plc, Union Bank of Nigeria Plc, Wema Bank Plc, Unity Bank Plc and Stanbic IBTC Plc.

A breakdown of the banks’ unaudited financial statements showed Access Bank’s revenue from electronic payments rose by 105 percent to N38.80 billion in the period under review, up from N18.96 billion posted in the same period of 2019.

First Bank’s electronic payment revenue stood at N34.59 billion, representing an increase of 0.5 percent over the N34.42 billion recorded in the corresponding period of 2019.

Similarly, fees and commissions FCMB earned from digital payments in the first nine months amounted to N6.62 billion, a 17 percent contraction from the N7.98 billion earned in the same period of 2019.

Jaiz Bank posted a 24 percent contraction on its electronic payment earnings from N406.65 million in 2019 to N309.55 million in the same period in 2020.

Also, Stanbic IBTC’s electronic earnings dropped by 15 percent from N2.49 billion posted in 2019 to N2.12 billion in 2020.

Fidelity Bank’s e-payments revenue contracted by 34 percent in the first nine months of the year to N1.74 billion, down from N2.63 billion in 2019. While GTBank posted a 26 percent decline in electronic banking income to N8.21 billion in the period under review, below N11.04 billion earned in the same period of 2019.

Union Bank Plc realised N5.34 billion from electronic payments charges in the first three quarters of the year. Meaning, the bank’s electronic payments decline by 5 percent to N5.6 billion.

For Sterling Bank Plc, electronic products earned the bank N4.31 billion in the very first nine months of 2020, again a reduction of 16 percent from N5.11 billion posted in the same period of 2019.

UBA Plc, Unity Bank and Wema Bank Plc generated N26.71 billion, N1.74 billion and N2.02 billion from electronic payment income, respectively.

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Ghana/Kenya: Eurobonds to Decouple as Fiscal Challenges Come to Fore



Ghana and Kenya, two of the sub-Saharan African sovereigns with the highest amount of outstanding Eurobonds, could see a widening of their risk premiums over 2021, according to a Senior Credit Analyst at Redd Intelligence, Mark Bohlund.

Faced with fiscal challenges, the two African nations are expected to return to the Eurobond market in the first quarter of 2021, but this time with bigger risk premiums as investors are expected to incorporate a higher likelihood of frontier-market issuers being pushed into debt restructuring.

Mark Bohlund said, “Ghana and Kenya are likely to return to the Eurobond market in 1Q21 but see a widening of their risk premiums over 2021 as investors incorporate a higher likelihood of frontier-market issuers being pushed into debt restructuring.”

With Ghana’s outstanding Eurobonds presently estimated at US$10.3 billion and Kenya’s outstanding Eurobonds put at US$6.1 billion, spreads on Ghana’s Eurobonds will increase over those of Kenya in 2021.

It is likely that spreads on Ghana’s eurobonds over those of Kenya will increase over 2021 as concerns rise over its weak fiscal position and high reliance on commercial overseas financing,” Bohlund stated.

Commenting on the countries’ fiscal positions, Bohlund said both countries are likely to post double-digit fiscal deficits this year, as contracting economies add to already faltering government revenue.

“With interest costs absorbing close to 50% of government revenue, Ghana will struggle to find sufficient cost- savings in other areas to reduce the fiscal deficit substantially in 2021.”

“In contrast to Kenya, Ghana has already cut back its capital expenditure to a bare minimum. The Bank of Ghana stepped up its purchases of government bonds sharply in September and we expect this to continue during 2021.

“In Kenya, part of the solution should be to encourage county governments to raise more revenue, but this will be challenging to implement before the August 2022 elections.

“Having shied away from bi- and multilateral creditors in favor of commercial borrowing, Ghana is likely to struggle to secure sufficient external financing in 2021. This makes increased central bank financing likely and poses downside risks to the cedi.

“Neither Ghana nor Kenya is likely to seek DSSI participation in 1H21 even if they deem that international bond issuance will not be possible.

“We have changed our view and now expect both Ghana and Kenya to issue Eurobonds in 1H21.

“Kenya is likely to continue to draw on funding from the IMF, the World Bank and other multilateral creditors, as well as bilateral financial support from China as the Standard Gauge Railway, continues to bleed funds.”

Bohlund added that the spreads between Ghana and Kenya Eurobonds are likely to widen further as a higher risk of a debt restructuring is priced into Ghanaian assets.

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Insider Dealing: Paul Miyonmide Gbededo Adds Another 612,326 Shares of Flour Mills to His Stake



Paul Miyonmide Gbededo, the Group Managing Director, Flour Mills of Nigeria Plc bought an additional 612,326 shares of the company.

The management stated this in a disclosure statement sent to the Nigerian Stock Exchange on Monday.

The managing director purchased the shares at N27.75 per share on November 20, 2020 at the Nigerian Stock Exchange in Lagos, Nigeria. Meaning, Gbededo has invested another N16,992,046.5 into the company.

This was in addition to the 3,284,867 shares valued at N91,642,269 and 4,200,852 shares worth N117.62 million purchased by Gbededo earlier in the month of November. Bringing his recent purchases to 8,098,045 million shares worth N226,254,315.5. See the details of the latest transaction below.


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