Nigerian banks have resumed processing international tuition fee payments directly from customers’ Naira accounts through the Central Bank of Nigeria’s (CBN) Form A portal.
The Form A system allows users to apply for foreign exchange to pay for eligible service transactions, such as overseas educational fees, at official CBN or interbank rates. This move follows the earlier resumption of international transactions on Naira cards by commercial banks.
GTBank and Lotus Bank have informed their customers via email that the service is now available for payments of undergraduate and postgraduate tuition abroad.
To use the service, customers must register and submit applications on the Trade System Portal, selecting the ‘Form A’ application category for Educational Fees and choosing their bank as the processing institution. Applicants must also attach the required documents before submitting.
This development aims to ease payment challenges for Nigerians seeking education abroad, facilitating smoother access to foreign currency for tuition fees through regulated channels.
