Nigerian banks have announced that individuals seeking to pay international tuition fees can now do so directly from their naira accounts using the Central Bank of Nigeria’s (CBN) Form A portal.
The Form A platform, a CBN-regulated channel, enables Nigerians to pay for eligible services such as school fees, medical bills, and training courses through the official foreign exchange window. The renewed access follows recent improvements in foreign exchange (FX) liquidity across the banking system.
In a notice to customers on Monday, Guaranty Trust Bank (GTBank) confirmed the availability of the service for applicants paying undergraduate and postgraduate tuition fees abroad.
“Pay international tuition fees directly from your Naira account,” the bank stated, adding that customers must register and submit applications through the trade system portal at www.tradesystem.gov.ng.
Applicants are required to select Form A for educational fees, choose GTBank as the processing bank, attach relevant documents, and submit their requests online.
Lotus Bank also issued a similar communication, informing customers that they can process international fee payments through the Form A portal.
“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 notice read.
A Lotus Bank official explained that while the service had always been available, demand was low following the floating of the naira due to challenges with FX availability.
“The process has always been, but due to lack of funds, too many people were chasing the available dollars. But nowadays there’s money,” the official said. “The floating of the naira initially caused some resistance because of the rate differences and additional documentation, but with improved FX liquidity, the process is now faster.”
Processing Timeline Reduced
According to the bank official, the processing period for international tuition payments has been reduced from 120 days in 2022 to just four days in 2025.
“Once instructions are sent, the treasury team sources the dollar within T+2 (two business days). The customer is debited for the dollar by Thursday, and by Friday, the school receives the funds,” the official explained.
Required documents for the transaction include the admission letter, school invoice, international passport, tax clearance certificate, and instructions authorizing the bank to debit the customer’s account.
The development comes a month after Nigerian commercial banks restored the use of naira cards for international transactions, another sign of strengthening FX liquidity.
The CBN’s Form A initiative is expected to provide relief for Nigerian students abroad and their families, offering a more efficient and reliable channel for settling tuition payments at the official exchange rate.