Aduragbemi Omiyale
By Aduragbemi Omiyale
United Bank for Africa (UBA) Plc has asked its customers who intend to access foreign exchange (FX) for school fees payment abroad to make use of the Trade Monitoring System (TRMS) of the Central Bank of Nigeria (CBN).
According to the financial institution, customers must initiate this process within 10 to 12 weeks from the log date.
UBA noted that this process was “part of our efforts to ensure that your foreign currency needs are treated seamlessly.”
The lender advised customers to ensure that complete documentation is uploaded and the account is sufficiently funded for the transaction, emphasising that, “All requests are treated on a first come, first served basis.”
In the notice obtained by Business Post, the bank listed the supporting documents required for school fees payments as a duly completed e-Form A, current admission letter showing name and duration of the course of study, school bill for the current period, school bank details, valid ID card of the account holder, and first-degree certificate or Certified True Copy of the statement of result (For post-graduate students).
