Nigerian students planning to study abroad have received a major boost as leading banks announce the resumption of faster international tuition payments through the Central Bank of Nigeria’s (CBN) Form A portal.
The CBN Form A platform, designed for regulated foreign exchange transactions, allows Nigerians to settle overseas educational fees directly from their naira accounts using the official FX window. This comes after months of pressure on the foreign exchange market and delays that stretched as long as 120 days in previous years.
Faster Processing, Improved Access
According to notices issued by Guaranty Trust Bank (GTBank) and Lotus Bank, students can now process tuition payments in just four days, reflecting improved FX liquidity.
Customers are required to register on the CBN Trade Monitoring System (TRMS) at www.tradesystem.gov.ng, select Form A for educational fees, choose their bank as the processor, and upload necessary documentation including admission letters, invoices, and international passports.
“Pay international tuition fees directly from your Naira account,” GTBank said in its circular, underscoring that both undergraduate and postgraduate applicants are eligible for the service.
Lotus Bank also confirmed the process is fully operational, noting that demand had slowed earlier due to limited FX supply but is now steadily increasing.
Relief for Students and Parents
For families funding studies abroad, the shorter turnaround offers significant relief. A Lotus Bank official explained that FX sourcing now takes T+2 business days, meaning tuition instructions sent at the start of the week are typically settled by Friday.
“The availability of funds has changed the process entirely. Parents and students can now plan better, knowing fees will reach schools on time,” the official noted.
The move comes just weeks after Nigerian banks restored international transactions on naira debit cards, signaling a gradual stabilization of the forex market.
Requirements for Application
To process tuition payments via Form A, applicants must provide:
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Admission letter from the institution
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School invoice detailing tuition fees
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Valid international passport
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Tax clearance certificate
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Written instruction to debit their naira account
Supporting Nigeria’s Education Abroad Aspirations
The return of swift tuition payments underscores the CBN’s push for an efficient FX framework that supports Nigerians studying abroad.
With over 100,000 Nigerian students enrolled in foreign universities annually, the policy is expected to ease financial bottlenecks and strengthen confidence in regulated payment channels.