Nigerian students schooling abroad can now pay their tuition fees directly from naira accounts, thanks to fresh updates from Nigerian banks.
The payment is made through the Central Bank of Nigeria’s Form A portal, a regulated platform that supports payments for education, medical bills, and other eligible services using the official foreign exchange rate.
“Pay international tuition fees directly from your Naira account,” GTBank announced in an email to customers on Monday.
The bank noted the service is open for undergraduates and postgraduates paying school fees overseas.
CBN’s FX Window Opens Up Again
The renewed access follows recent improvements in foreign exchange liquidity across the country. GTBank and Lotus Bank are now asking interested users to begin the process via the Trade System Portal: www.tradesystem.gov.ng.
Applicants are to register on the portal, select “Form ‘A’ application for Educational Fees,” choose their processing bank—GTBank or Lotus Bank—attach necessary documents, and submit.
Lotus Bank added that although the process was never suspended, low FX liquidity discouraged many from applying in the past year.
“The process has always been there, but due to lack of funds, too many people were chasing the limited forex,” a Lotus Bank staff told TheCable.
“When the president floated the naira, the changes in exchange rate and added documentation made many Nigerians reluctant to go through the process.”
Form A Payment Time Now Down to Four Days
Previously, international fee applications via Form A could take up to 120 days, as seen in 2022 during the height of forex scarcity.
But according to Lotus Bank, that timeline has now dropped significantly.
“Once you send your instructions, our treasury team will source the dollar in two business days. That means if you apply on Tuesday, by Thursday your account is debited, and the school gets the funds by Friday,” the official said.
Documents required for tuition payments include:
- admission letter,
- school invoice,
- international passport,
- instruction to debit account,
- tax clearance certificate,
- completed Form A.
The revival of this payment route comes a month after Nigerian banks resumed international transactions on naira cards—a service that had also been paused due to FX instability.
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