Nigerian parents and students abroad keep struggling to access FX for school fees and living expenses. Banks talk about waitlists and documentation; the parallel market rate keeps moving. Why is PTA/BTA still this difficult in 2025?
If you paid fees recently, what worked? Did your bank process Form A quickly? How long did it take? If you used domiciliary accounts or fintechs, was it cheaper or riskier? Please share the exact documents that were accepted and any red flags to avoid delays.
Looking for specifics
• Best bank branches/processes that worked
• Timing and seasonality tips (visa windows, school calendars)
• Honest do’s & don’ts for parents and students
Why it is hard: Banks prioritise limited official FX for sectors with the cleanest paperwork and timing predictability. Student PTA/BTA often bunches into peak windows (visa decisions, resumption weeks), so queues form. Documentation gaps (mismatched names across passport/admission/invoice, stale statements, unclear source of funds) also push files back.
What works today: Start 6–8 weeks early. Make sure the offer/tuition invoice carries your exact passport name and student ID, and that Form A values match the invoice to the cent. Keep a tidy file: passport biodata, visa page/admission letter, I-20/CAS or equivalent, school bank details, and proof of tuition balance after PTA. If your bank has a dedicated FX desk, walk in early mornings and ask about their weekly allocation day; submissions just before allocation tend to clear faster. Consider part-payment schedules if your school allows it, and maintain a small domiciliary buffer to cover shortfalls rather than jumping to the parallel market at spikes. Finally, maintain communication with the school’s bursary — many quietly extend deadlines when they see bank queue letters.