Nigerian Banks Resume Processing International Tuition Payments via CBN Form A

Nigerian banks have resumed the processing of international tuition payments through the Central Bank of Nigeria’s Form A portal, allowing customers to pay school fees abroad directly from their naira accounts. The development comes after months of suspension due to foreign exchange scarcity and regulatory challenges. With improved forex liquidity, several banks, including GTBank and Lotus Bank, have now informed their customers that they can once again access the Form A service for educational payments. To initiate the process, applicants are required to register on the Federal Government’s Trade System Portal, They must then select “Form A for Educational Fees,” choose their preferred bank, and upload the necessary documents for verification. The required documents include a valid international passport, an admission letter from the institution, an official invoice, a letter of payment instruction, and a recent tax clearance certificate. Once approved, banks say the payment process now takes about four business days. According to bank officials, the timeline for processing has significantly improved compared to the situation in 2022, when applications for tuition payments could take up to 120 days due to limited access to foreign currency. With the new system, banks source forex by Tuesday, debit customers’ naira accounts by Thursday, and remit payments to foreign institutions by Friday. The Form A platform is part of the CBN’s regulated forex windows used for essential transactions, including school fees, medical bills, and travel allowances. The policy is designed to reduce reliance on the parallel market and ease the burden on Nigerians making legitimate international payments. The move has been widely welcomed by students, parents, and education consultants, many of whom had struggled with delays and high costs while using unofficial channels. The resumption is expected to bring relief ahead of the upcoming academic season and is seen as a positive sign of stability returning to the financial system. Banks have advised customers to apply early and ensure all documentation is complete to avoid processing delays.