Nigerians Can Now Pay International School Fees From Naira Accounts in Just 4 Days

Nigerian students can now pay international tuition fees directly from their naira accounts within four working days, thanks to renewed foreign exchange liquidity and the reactivation of the Central Bank of Nigeria’s Form A platform.

Guaranty Trust Bank (GTBank) confirmed in an email to customers on Monday that payments for both undergraduate and postgraduate tuition can now be processed via naira accounts. Applicants are required to submit requests through the Trade System Portal at www.tradesystem.gov.ng, selecting Form A for Educational Fees, choosing their bank, and uploading necessary documents.

Lotus Bank also informed its customers that while the process was never officially suspended, it had slowed down due to forex shortages. With liquidity now improved, processing time has dropped significantly.

According to a Lotus Bank official, “Once instructions are sent, the treasury team sources dollars within two business days. For instance, if instructions are sent on Monday, the account is debited by Thursday and the school gets the money by Friday.”

Applicants are expected to provide key documents including an admission letter, school invoice, international passport, tax clearance certificate, written instruction to debit their account, and a completed Form A.

This development marks a sharp improvement from 2022, when international school fee payments could take up to 120 days due to forex scarcity. It also follows the recent resumption of international transactions on naira cards, reflecting growing stability in the country’s forex market.