[sintolani113]

Hi, I wish to know if Nigeria banks can fund a Germany block account with official exchange rate. If yes, what are the procedure.

Discussion

[Michael]

Yes, this is possible, and they also offer the best rate, which is good for the candidate. But the downside is how long it takes. The procedure would be to contact your bank, make the deposit of the NGN equivalence, and then your bank takes it up with the CBN.
I think @Frodo001 and @Gentle may have some more insights on this.

[sintolani113]

Thanks for concern I really appreciate.

[Israel Oyetade]

Not all the Nigeria banks understand the Blocked account process, only few. And most of the time. You have to go to their headquarter in Lagos to get it done. Some of the banks that people have used are

Sterling

Keystone

Fidelity

Gtb

Although some will require you to have had an account with them for 6months. And if you will be using CBN to fund your block account, start the process as early as possible because it takes about 1-3 months from the day you initiate the payment till the day it got approved.

[Deborah Etim]

Interesting to learn that you can use the CBN for that purpose. Thanks for the added knowledge.

[Wasana]

@sintolani113 hope this answers your question?

[sintolani113]

Yes thanks

[sintolani113]

Thank you sir