Market News
FX liquidity revives naira payments for foreign school fees
...Processing time drops to four days from 120 Improved dollar liquidity has enabled Nigerian banks to resume payments for international school fees and medical bills using naira accounts, following a long suspension triggered by acute foreign exchange (FX) shortages.
BusinessDay learnt that processing time for foreign school fee payments has now been cut drastically from as long as 120 days to about four days. “It is quick,” one banker said.
Banks such as Guaranty Trust Holding Company (GTCO) and Ecobank are...Processing time drops to four days from 120 Improved dollar liquidity has enabled Nigerian banks to resume payments for international school fees and medical bills using naira accounts, following a long suspension triggered by acute foreign exchange (FX) shortages.
BusinessDay learnt that processing time for foreign school fee payments has now been cut drastically from as long as 120 days to about four days. “It is quick,” one banker said.
