Nigerian students pursuing education abroad can now pay international tuition in just four days using their naira accounts, thanks to improved foreign exchange (FX) liquidity and updates to the Central Bank of Nigeria’s (CBN) Form A platform.
The Form A portal, a CBN-regulated service, allows Nigerians to pay for eligible expenses such as school fees, medical bills, and training courses through the official FX window.
GTBank and Lotus Bank have both announced that customers can now process international tuition payments—covering both undergraduate and postgraduate programs—directly from their naira accounts by registering and submitting applications via the Trade System Portal.
To use the service, applicants must,Register on the portal,Select “Form A” for Educational Fees,Choose their bank (e.g., GTBank or Lotus Bank),Upload required documents (admission letter, school invoice, passport, debit instruction, tax clearance, and Form A).
According to a Lotus Bank representative who spoke to TheCable, the process was never halted but had seen low usage due to naira depreciation and FX scarcity. However, with increased liquidity, banks can now complete transactions within four business days—down from the previous 120-day wait in 2022.
“Once you send your instructions, the treasury team sources the dollar within two business days (T+2). By the fourth day, the school receives the payment,” the official explained.
This development follows the recent reactivation of international transactions on naira cards by Nigerian commercial banks, signaling further stabilization in the country’s FX market.
