Banks adjust FX school fees request time as dollar shortage hits hard

Nigerian banks have adjusted the processing time for accessing foreign exchange (FX) for international school fees to 120 days from 48 hours.

They have also cut the amount of dollars for personal travel allowance (PTA) and Business Travel Allowance (BTA) by 50 and 60 percent to $2,000 from $4,000 and $5,000 respectively.

In a message by Access Bank to its customers, titled, “important information on Form A request’, it noted that the processing time has been increased to 120 days.

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