In this post, I’ll be explaining how you can make your school fees payment, Apply for your personal travel allowance, and Apply for Form Ncx using the trade portal https://www.tradesystem.gov.ng/ in Nigeria
The Central Bank of Nigeria has set up Form ‘A’ and Form NCX to cater for the sale of foreign exchange (fx) to Nigerians who are going or trading abroad for specific purposes. This is to ensure that the travelers and exporters have access to affordable foreign exchange currencies especially the Great Britain Pounds (GBP), US Dollar (USD), and Euro (EUR).
A few years ago, if you were applying to pay your school fees abroad, Personal and Business Travel Allowance (PTA/BTA), Nigeria Exports Proceeds Form (NXP), and the Non-Commercial Exports (NCX), CBN asked applicants to fill out physical forms in their banks to process fx for them, if they meet the requirements of the sale. Now, the CBN has disclosed that the new system will be fully automated from start to finish – all applications will now be done online.
How to Register on the Trade Monitoring System (TRMS) Portal
The Trade Monitoring System Portal is a straightforward and efficient platform. To pay your school fees abroad, apply for PTA/BTA, and apply for fx to process exports, here is the new step-by-step guide:
NOTE: As an organization, you must have a TIN (Tax Identification Number). If you are registering as an individual, you must have your email linked to your BVN. If you don’t have your email linked to your BVN, you need to visit the bank that issued the BVN to make the email update.
- Visit the website on your device – www.tradesystem.gov.ng
- Scroll down and click Register Now
- Choose your category (Organization or Individual)
- Enter your TIN (if organization) or your BVN (if an individual)
- Choose your password
- Reconfirm password
- Click Continue
- An OTP email will be sent to the registered email on your BVN.
- Retrieve the code and submit.
TRMS Application Process Flow/Stages
Stage 1 – ADB_REVIEWER
This is the first stage. The reviewer carefully check for correctness of your details, verifies your account number, and confirms your uploaded documents. Upon approval, the application is passed to the reviewer’s supervisor.
Stage 2 – ADB_SUPERVISOR
This is the second stage. The supervisor also checks the filled details and confirms the uploaded documents. Upon approval, a 16-digit AA-number is generated and the application is forwarded to the disbursement team to approve the disbursement of the cash/transfer.
Stage 3 – ADB_DISBURSEMENT_REVIEWER
This is the last stage. The disbursement reviewer takes a final look at the application and approves the disbursement of the funds in cash or transfer. A mail notification will also be sent to the applicant to this effect.
You’re in!
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
- Submit
*You can follow up with your bank using your AF-number. PTA/BTA processing may take 1-3 working days.
How to Apply For School fees Payment (FORM A)
- 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 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 preferred bank from the dropdown
- Submit
*You can follow up with your bank using your AF number. School fee processing may take up to 1-3 weeks.
How to Apply For UPKEEP Payment (FORM A)
- Login
- Click Start Application
- Select Educational Fees
- Choose Upkeep
- Enter all necessary student details
- Upload necessary documents (student’s int’l 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 preferred bank from the dropdown
- Submit
*You can follow up with your bank using your AF number. Upkeep processing may take up to 1-3 weeks.
How to Apply For Medical bills Payment (FORM A)
- Login
- Click Start Application
- Select Medical Allowance
- Enter all necessary details
- Upload necessary documents (return flight ticket, visa, int’l passport data page, specialist’s letter of recommendation for treatment in the destination hospital)
- Attach 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
- Submit
*You can follow up with your bank using your AF-number. Medical Allowance processing may take up to 1-3 weeks.
Conclusion
You can also pay for your mortgages abroad, training courses, utilities abroad, life insurance premiums, and overseas credit card payments with e-Form A.
The new Trade Monitoring System Portal is highly effective, as it covers all the areas that the old forms used to handle. The process is also swift and it impacts the bank officials’ end instantly as you select them and submit your application.
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