Nigerian banks have resumed processing international tuition payments from customers’ Naira accounts through the Central Bank of Nigeria’s (CBN) Form A portal, marking a significant step in improving access to foreign exchange for educational purposes.
Form A is a designated application form developed by the CBN to facilitate payment for service-related transactions, also known as invisible trade. It enables individuals to purchase foreign exchange at the CBN or interbank rate for eligible services such as tuition, medical bills, and other international payments, in line with the provisions of the foreign exchange manual.
This renewed access comes just a month after commercial banks reinstated international transactions on Naira-denominated debit cards.
In emails sent to their customers on Monday, both GTBank and Lotus Bank confirmed that international tuition fee payments are now available via the Form A process for undergraduate and postgraduate students studying abroad.
“Pay international tuition fees directly from your Naira account,”
GTBank stated in its notice.
To use the service, applicants must register and submit their applications on the Trade System Portal at www.tradesystem.gov.ng. GTBank explained the steps as follows:
“Select the ‘Form A’ application for Educational Fees. Choose GTBank as the processing bank, attach required documents, and submit the application.”
Lotus Bank issued similar instructions:
“Register on the Trade System Portal. Select Form ‘A’ application for Educational Fees. Choose Lotus Bank as the processing bank, attach required documents, and submit the application.”
This development is expected to ease the financial burden on Nigerian students and their families by offering an official, regulated channel for foreign tuition payments directly from Naira accounts.
