In a welcome development for students and parents, Nigerian banks have reinstated Naira-denominated payments for international tuition fees using the Central Bank of Nigeria (CBN)’s Form A platform.
Form A is a CBN-regulated application process that facilitates foreign exchange access at official rates for approved service-related payments, including educational expenses abroad. This service allows Nigerians to pay tuition fees directly from their Naira accounts, offering a more accessible and cost-effective option for overseas education funding.
The update follows a broader relaxation in cross-border transactions, as banks had recently resumed international spending on Naira cards after a prolonged suspension.
On Monday, both GTBank and Lotus Bank confirmed the reactivation of this feature in emails to their customers. The banks announced that students applying to undergraduate or postgraduate programmes abroad can now process their tuition payments directly through the Trade System Portal: www.tradesystem.gov.ng.
GTBank’s message read:
“Pay international tuition fees directly from your Naira account.”
To initiate the process, customers are advised to follow these steps:
Register on the Trade System Portal
Select ‘Form A’ under the application type
Choose your preferred bank (GTBank or Lotus Bank) as the processing institution
Upload all required documents
Submit your application
Lotus Bank also issued similar guidance, assuring customers of smooth processing for educational-related payments.
This resumption is expected to ease the financial and logistical burden on Nigerian families navigating foreign exchange challenges for international education.
