How To Pay Canadian School Fees From Nigeria

Read my post on how to pay Canadian school fees from Nigeria

Presently, many Nigerians are relocating to other developed countries to study due to the increase in inflation, insecurity, unemployment, and poor educational system facing Nigeria. Moreover, Canada is one of the easiest countries to relocate to from Nigeria for study purposes.

As a Nigerian planning to study in Canada, firstly you must have applied for admission to the university of your choice. when your documents are verified, you would be sent an offer letter containing the university account details and how much you are required to pay for tuition.

However, when it comes to paying tuition fees from Nigeria sometimes it can be very challenging because the process is usually rigorous.  Presently, the Nigerian government is setting up measures to make the process easy unlike before you have to wait for months especially if you want to the Form A method.

Although due to the naira devaluation, it is quite expensive to pay school fees in foreign currency. If you want to know how to pay Canadian school fees from Nigeria then you are in the right place. Let’s dive in…

How To Pay Canadian School Fees From Nigeria

Below are different methods on how to pay Canadian school fees from Nigeria.

Read my post on is relocating to canada from nigeria worth it 

Form A

Form A is one of the common methods of paying tuition fees in Nigeria. The form was designed by the CBN to pay for service transactions that allow customers to make payments for different services such as tuition fees, airplane tickets, and many other services.

With Form A, customers pay for services at the official CBN exchange rate which is cheaper compared to the black–market exchange rate. Although using Form A to pay for your tuition fees usually takes weeks or months for your funds to be processed.

Form A Requirements

The following are the requirements to pay tuition with Form A.

• University admission offer letter
• Bank account details of the University 
• Letter of approval giving the bank the authority to debit your account.
• Fill out Form A application form.
• A valid means of identification such as a Driver’s License, Voter’s Card, or National Identity Card.
• Applicant International passport data page.
• Applicant must have sufficient funds in the account.

Steps on How to Pay School Fees Using Form A

Below are the guidelines on how to pay school fees using Form A

• Applicant must have sufficient funds in their account
• Visit www.tradesystem.gov.ng on your phone or PC
• Click on Create an account for the new user while the existing user should input your login details.
• For new users, fill in your detail to create an account.
• Click on the drop menu at the top right corner and select Form A.
• Click on Start application and select Educational Fees.
• Select the transaction purpose and enter the beneficiary information.
• Select the foreign and enter the amount
• Upload all the necessary documents and preview the page for any errors.
• Click on confirm to start the application. You would receive an email to notify you that your application is being processed.
• When you have submitted your application, you would receive an email with your AF number.
• Send the AF number to your bank and select Telex or Swift in the payment method section.
• When your account is debited, Telex or Swift would make it known to your bank, so ensure to always check and request your payment slip.

Domiciliary Account

A Domiciliary account is an account designed to hold foreign currencies in Nigeria. However, this method of payment is always more expensive to pay tuition fees but the transaction usually takes 1 – 3 days.

In a Dom account, you can’t deposit your naira only foreign currencies. Unlike before, customers have to use the black–market rate to exchange their Naira for foreign currencies. But now you can exchange your naira for foreign currencies at the bank using the I&E window.

Steps on How to Pay School Fees Using Domiciliary Account

Below are the guidelines on how to pay school fees using a Domiciliary account

• Visit your bank and create a Domiciliary account, if you don’t have one.
• Go to the FX point to fund your Domiciliary account.
• provide the bank with your admission offer letter from the foreign university.
• Fill out Form A application form.
• When you are done, your Domiciliary account would be debited for the transaction.

International Money Transfer App

There are many money transfer apps available in Nigeria that allows you to carry out foreign transactions from the comfort of your home. With the money transfer app, you don’t have to worry about FX Scarcity, delay, or the rigorous procedure involved in foreign transactions.

However, the transaction fees are usually high and the delivery times differ from each money transfer app. The following are the top 6 money transfer apps in Nigeria.

• WorldRemit
• Wise
• Remitly
• OFX
• Western Union
• Pay4Me App

FAQs

How does it take to pay with Form A?

Using Form A to pay for your foreign tertiary tuition fee usually take from 30 – 75 days depending on the currency and the bank.

How do I pay international tuition fees in Nigeria?

There are several methods to pay your international tuition fees ranging from Form A to using a Domiciliary account or international money transfer app. However, the procedure and requirements for each method differ, so it solely depends on you.

Which bank is the fastest for Form A?

Banks that process Form A fast

• Guarantee Trust Bank
• First Bank
• Access Bank
• Zenith Bank
• Sterling Bank

Conclusion: How To Pay Canadian School Fees From Nigeria

In Nigeria, there are several means to pay your Canadian University school fees. However, many Nigerians often use the Form A method because it is more cheap compared to the others but in terms of payment delivery, it usually takes too long to process.

Presently, due to the increment in the official CBN exchange rate, many people are using the Domiciliary account method because you don’t have to wait for too long. Nevertheless, a number of Nigerians still use the money transfer method but most time the processing fee and exchange rate are usually high.

Thank you for reading this post and I hoped you were able to get a lot of helpful information. Please share with your loved ones and friend and don’t forget to drop a comment.