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A Wire Transfer Letter is an essential financial document used in the Nigerian banking system to facilitate the secure transfer of funds between accounts. This document is required whenever an account holder needs to initiate a wire transfer, whether domestic or international, and must comply with Nigerian banking regulations, including the Central Bank of Nigeria guidelines and anti-money laundering requirements. The letter includes critical information such as the sender's and beneficiary's details, transfer amount, purpose of payment, and necessary declarations. It's particularly important in the Nigerian context due to specific regulatory requirements around foreign exchange transactions and financial documentation. The Wire Transfer Letter serves multiple purposes: it acts as an official instruction to the bank, provides an audit trail for compliance purposes, and serves as evidence of the transaction for both sender and recipient.

1. Letter Header: Sender's details, date, and recipient bank's details including branch information

2. Reference Line: Unique reference number and/or account details

3. Subject Line: Clear indication that this is a wire transfer instruction

4. Transfer Details: Specific amount, currency, and purpose of transfer

5. Beneficiary Information: Complete details of the recipient including full name, bank account number, and bank details

6. Source of Funds Declaration: Statement declaring the legitimate source of the funds being transferred

7. Authorization Statement: Explicit authorization for the bank to execute the transfer and debit the sender's account

8. Contact Information: Sender's contact details for any queries or confirmations

9. Signature: Authorized signature(s) as per bank mandate