Nigerians seeking foreign exchange for international transactions can now breathe a sigh of relief as FirstBank announces the resumption of foreign currency sales for a range of essential payments. This development comes at a time when access to forex has been a challenge for individuals and businesses, affecting overseas travel, education, and medical expenses.
Easing Forex Access for Customers
With this move, FirstBank customers can now seamlessly access forex for:
- Personal Travel Allowance (PTA)
- Business Travel Allowance (BTA)
- School Fees Payments
- Medical Bills Settlements
- Other qualified Form A payments
The resumption of foreign currency sales is expected to ease pressure on individuals and businesses that have struggled to secure forex for these legitimate transactions.
A Seamless Process Through the CBN’s Trade Monitoring System (TRMS)
To ensure efficiency and transparency in forex distribution, all applications must now be processed through the Central Bank of Nigeria’s (CBN) Trade Monitoring System (TRMS) portal. Customers are required to:
- Submit all Form A applications—including PTA/BTA, school fees, student upkeep, and medical bills—through the TRMS platform.
- Upload all supporting documents directly on the portal to facilitate approvals.
- Visit www.tradesystem.gov.ng to initiate their application.
This centralized system aims to streamline the forex allocation process, ensuring that funds are allocated fairly and in line with CBN regulations.
A Boost for International Transactions
The return of foreign currency sales aligns with FirstBank’s commitment to supporting its customers’ global aspirations. Whether traveling for business or leisure, funding a child’s education abroad, or covering medical expenses in foreign hospitals, customers can now rely on FirstBank for a smoother forex transaction process.
Need Assistance?
For detailed information on required supporting documents and other Form A application requirements, customers can visit the FirstBank website or contact:
📩 firstcontact@firstbanknigeria.com
📩 TransactionBankingTradeandAgricProducts@firstbankgroup.com
With this initiative, FirstBank is reinforcing its position as a trusted partner for Nigerians navigating the global financial landscape.
