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Nigerian banks resume naira card payments for foreign tuition via CBN’s Form A - THE GUARDIAN
By : Amarachi Okonkwo
Nigerian banks have resumed processing international tuition payments from Naira accounts through the Central Bank of Nigeria’s (CBN) Form A platform, marking a significant relief for students and parents seeking to fund education abroad.
The Form A portal, managed by the CBN, enables customers to purchase foreign exchange at official rates for service-related transactions, including tuition payments, medical bills, and professional fees.
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The resumption comes roughly a month after commercial banks began allowing limited international transactions on Naira-denominated cards, following the easing of foreign exchange restrictions.
In customer notifications sent on Monday, GTBank and Lotus Bank confirmed that Nigerians can now apply for international school fee payments in Naira through the CBN Trade System Portal.
“Pay international tuition fees directly from your Naira account,” GTBank said in its notice to account holders, instructing them to log into www.tradesystem.gov.ng to initiate the process.
“Select the ‘Form A’ application for Educational Fees. Choose GTBank as the processing bank, attach required documents, and submit the application,” the bank explained.
Lotus Bank issued a similar advisory: “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 pressure on families paying school fees in foreign currencies and reduce dependence on the parallel market for dollar transactions.
While the CBN has not issued an official statement on the policy update, the move is seen as part of ongoing efforts to stabilise Nigeria’s foreign exchange market and improve access to legitimate forex channels.
