Naira Card Now Accepted for Tuition Abroad — But at What Cost?

After months of uncertainty and frustration, Nigerian students studying abroad finally got a bit of relief: Naira Card Now Accepted for Tuition Abroad. Yes, you heard that right — local banks like GTBank and Lotus Bank have reopened tuition fee payments using Form A through your Naira account. On paper, it sounds like a breakthrough. But is it really that simple?

A Welcome Relief or Another Maze?

For many families, the announcement came like cool rain on a dry day. After the earlier suspension of international transactions on Naira cards, parents had been scrambling through black market forex dealers, losing sleep and money just to meet school deadlines. With Naira Card Now Accepted for Tuition Abroad again, banks say students can now process their fees using the Central Bank’s Form A — a system that lets you buy dollars at official rates to pay for certain services, including education.

GTBank and Lotus Bank sent out emails confirming the development. In GTBank’s words: “Pay international tuition fees directly from your Naira account.” Lotus Bank gave similar instructions, guiding customers to register on the Trade System Portal, choose Form A, and upload the required documents.

But here’s the catch, while the doors may be open again, the hallway leading to those doors is still crowded with bottlenecks.

Also Read: Naira Debit Cards Go Global Again: Are the Limits Fair?

For students and their families, getting access to official forex isn’t just about paperwork. It’s about time, endless documentation, and anxiety. But talk to anyone who’s gone through the system, and they’ll tell you it’s no walk in the park. The wait time to get Form A approved can stretch into weeks. And sometimes, even after approval, the banks may delay disbursement due to low forex availability.

A final-year student in Canada, Chuka, said: “It’s better than sourcing from the black market, but you still don’t know if it’ll go through before your school deadline. Every day, I’m refreshing the portal hoping to see ‘Approved.’”

Policy Gaps and Emotional Toll

Let’s pause and look beyond the bank statements. This is not just about money transfers. This is about the emotional strain families face when a child’s future hangs on the approval of a forex form. Nigerian Banks announcing that Naira Card is Now Accepted for Tuition Abroad might sound like a policy win for the CBN and commercial banks, but for the people affected, it’s not just policy, it’s personal.

One Lagos-based mother told The Nation Digest, “Every semester feels like a battle. Between Form A delays and exchange rate swings, my child misses early class registration. We celebrate approvals like we’ve won a lottery.”

These stories are not rare. They reflect a larger challenge in Nigeria’s foreign exchange management. Form A may be available, but the emotional and financial cost of navigating it remains high.

So, What Now? Will Things Improve?

It’s too early to call this a full win. That Naira Card is Now Accepted for Tuition Abroad is a hopeful headline, but the real test lies in how quickly and consistently banks process these payments. The CBN needs to ensure forex supply doesn’t dry up midway, and banks must reduce turnaround times.

Until then, many families will still hold their breath every time they click “submit” on the Trade Portal.

After all, what good is access if it comes with so much stress?