Nigerian banks have officially resumed the processing of foreign tuition fee payments through Naira accounts, using the Central Bank of Nigeria (CBN)’s Form A portal. This development brings relief to parents and students paying for education abroad amid foreign exchange challenges.
In separate customer notices, Guaranty Trust Bank (GTBank) and Lotus Bank confirmed the reactivation of the service, which had been suspended for months due to forex liquidity issues. Both banks stated that eligible customers can now apply for international school fee payments through the CBN Trade Monitoring System portal at www.tradesystem.gov.ng.
The payments cover tuition for both undergraduate and postgraduate studies abroad. According to the banks, applicants must ensure all required documentation is complete, including admission letters, invoices, and valid identification, to enable seamless processing.
This initiative is expected to ease pressure on the parallel market and restore some level of confidence in official channels for legitimate forex transactions.
Bank officials encourage timely application submissions, as approval processes are subject to regulatory timelines and foreign exchange availability from the CBN.