Access Bank has offered explanation for the 30-day period required to fulfill requests for foreign exchange in respect of school fees, upkeep and rent.
The bank, in response to an inquiry cited limited availability of Foreign exchange from the Central Bank of Nigeria (CBN) as the major reason.
Metrobusinessnews.com had reported on Wednesday that the bank sent out statement to its customers and provided updated information to them on foreign exchange needs.
The important updates, which were for FX needs for international school fees, upkeep payments and BTA/PTA, are, according to the bank, in line with its determination to provide customers with best banking experience.
“In line with our commitment to giving you the best banking experience, we are pleased to provide the following important updates on your forex needs for international school fee, upkeep payments and PTA/BTA requests. " All requests are reviewed to ensure they meet regulatory requirements. In addition, due to limited forex availability provided by the CBN, we require a 30-day period to fulfill requests for school fees, upkeep and rent payment. " However, for PTA /BTA, we request that you submit your application 14 days before your proposed travel date to allow disbursement within the timeliine.“
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" Please be informed that due to limited FX availability provided by the Central Bank of Nigeria, we require a 30-day period to fulfill requests for School Fees, Upkeep and Rent.” However without the proper / incomplete documentation required by the CBN, we will be unable to proceed with his FX request.
I sincerely apologize for the inconveniences this may caused you.“
