How To Register And Apply For CBN E-Form A (School Fees, PTA/BTA) In 2023

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CBN has set up form A to cater to the needs of foreign exchange FX of Nigerians travelling and trading abroad for several reasons. This move ensures that travellers have access to FX cheaply where ever they travel.

If you study abroad, you must pay your fees in the dollar. Euro and pounds depending on the country where you reside. But most times, people buy at the black market rate to meet the school fees deadline.



Before now, Form A was a physical form you filled out and submitted to your bank. But now, CBN has disclosed that the new system will be fully automated online from start to finish. 

What is E-form A?

It is a particular form from the CBN that allows you to get FX cheaply from the CBN at the official rate.. as low as 425/$ instead of the usual parallel market rate of 750/$

However, due to the influx of applications of FX, processing through E-form A for most banks takes 60 days. So if you start applying now, you should get your Fees delivered to your school’s account in no time.

In this article, we will show you how to navigate the CBN trading monitoring system portal and register E-form A.

How to Register on The Trade Monitoring system portal 

The Trade Monitoring system portal uses your BVN to authenticate your registration.

  1. Go to https://www.tradesystem.gov.ng/signup to create an account.
  2. Choose your category (organisation or individual)
  3. Enter TIN for org or BVN for individual 
  4. Choose a password and continue.
  5. An OTP will be sent to the email address registered on your BVN

Note: If the email address on your BVN is incorrect, go to the bank and fill out a BVN update form.

Trade Monitoring system Process stages

Stage 1 ADB_REVIEWER

It is the first stage, where the reviewer correctly checks your details and verifies your account number and uploaded documents.

Stage 2 ADB_SUPERVISOR

This is the second stage, where the supervisor cross-checks your documents. Upon approval, a 16-digit code is generated, and the application is forwarded to the disbursement team.

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Stage 3 ADB_DISBURSMENT_REVIEWER

This is the last stage: your FX is disbursed in cash or transfer.

How to Apply For Personal Travel Allowance/Business Travel Allowance (PTA/BTA)

  • Login
  • Click Start Application
  • Select PTA/BTA
  • Enter all necessary travel details
  • Upload necessary travel documents (return flight ticket, visa page, and international passport data page)
  • Upload the company’s letter of nomination and certificate of incorporation (in case of BTA only)
  • Enter your bank account number to debit
  • Select your bank from the dropdown
  • Select the bank branch that you prefer to treat the transaction

You can follow up with your bank using your AF number. PTA/BTA processing may take 1-3 working days.

For School Fees

  • Login
  • Click Start Application
  • Select Educational Fees
  • Choose School fees
  • Enter all necessary student and school details
  • Upload necessary documents (international passport data page, provisional admission letter, school invoice, WAEC/first-degree certificate)
  • Upload the sponsor’s identification (if the student is paying through a sponsor)
  • Enter the school fees amount (max $15,000 per semester)
  • Enter the bank account number to debit
  • Select the preferred bank from the dropdown

You can follow up with your bank using your AF number. School fee processing may take up to 1-3 weeks.

For Upkeep

  • Login
  • Click Start Application
  • Select Educational Fees
  • Choose Upkeep
  • Enter all necessary student details
  • Upload necessary documents (student’s international passport data page, student account details, provisional admission letter, WAEC/first-degree certificate, sponsor’s identification, sponsor’s letter of authority to debit)
  • Enter the upkeep amount (max $3,000 per semester)
  • Enter the bank account number to debit
  • Select the preferred bank from the dropdown

You can follow up with your bank using your AF number. Upkeep processing may take up to 1-3 weeks.

For Medicals Bills Payment

  • Login
  • Click Start Application
  • Select Medical Allowance
  • Enter all necessary details
  • Upload necessary documents (return flight ticket, visa, international passport data page, specialist’s letter of recommendation for treatment in the destination hospital)
  • Attach the sponsor’s authority to debit (if the patient is paying through a sponsor)
  • Enter bank account number to debit
  • Select the preferred bank from the dropdown
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You can follow up with your bank using your AF number. Medical Allowance processing may take up to 1-3 weeks.

How to cancel Form A Application and Reapply

When filling out your Form A, you must be very cautious because once you submit it, you cannot change any details like your bank account, name, address, or phone number. The only change you can make is adding additional documents.

Here is how to successfully cancel your applications and reapply

  1. Login
  2. Tap Form A
  3. Go to History
  4. Go to the extreme right of the application
  5. Click the dropdown
  6. Click Cancel
  7. Enter the reason for the cancellation
  8. Upload the supporting document (if any)
  9. Upload a blank document (if none)

How to fix FX Limit exceeded on PTA/BTA after cancellation.

If you have successfully cancelled your request, you will notice that the amount of the cancelled transactions has been removed from your $15,000 limit( in the case of school fees)

However, note that the cancellation request goes through the verification process before it is finally approved.

1. The processing bank approves the cancellation request 

2. The cancellation request is further subject to the approval of the CBN after the ADB has approved the request.

3. The applicant must attach a letter requesting cancellation with other supporting documents.

Conclusion

This is how to apply for FX with the CBN trade Monitoring system portal in 2023 for BTA PTA to Pay school fees, medical bills, upkeep e.t.c

If you have any questions, kindly drop them in the comment box below, and we will respond. 


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