Nigerian commercial banks have resumed processing foreign tuition payments directly from customers’ naira accounts through the Central Bank of Nigeria’s (CBN) Form A portal, following improvements in the country’s foreign exchange liquidity.
Form A is a CBN regulated platform that enables Nigerians to make approved payments such as tuition, medical expenses, and training fees using the official exchange rate.
In a message sent to customers on Monday, Guaranty Trust Bank (GTBank) confirmed that the option is now available for individuals seeking to pay for undergraduate and postgraduate programmes abroad.
“Pay international tuition fees directly from your Naira account,” the notice read.
To use the service, applicants must log on to the government’s trade portal at www.tradesystem.gov.ng, fill out the necessary information, and select their preferred bank for processing.
“Select Form ‘A’ application for Educational Fees. Choose GTBank as the processing bank, attach required documents, and submit the application,” GTBank said.
Lotus Bank also issued a similar advisory to its customers, confirming its readiness to process education related transactions through the same channel.
“Register on the Trade System Portal (www.tradesystem.gov.ng). Select Form ‘A’ application for Educational Fees. Choose Lotus Bank as the processing bank, attach required documents, and submit the application,” the bank said.
This update comes nearly a month after banks in Nigeria reactivated the ability for customers to conduct international transactions using their naira debit cards, a function that had been suspended during a period of prolonged forex scarcity.
In 2022, banks had warned that Form A requests for tuition and upkeep abroad could take up to 120 days to process due to a shortage of foreign currency.
