Germany block account

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  • #168531

    sintolani113
    Participant

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

  • Germany block account

  • Michael

    Member
    September 30, 2022 at 6:45 am

    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

      Member
      October 1, 2022 at 3:45 am

      Thanks for concern I really appreciate.

  • Israel Oyetade

    Moderator
    September 30, 2022 at 7:16 am

    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

      Member
      September 30, 2022 at 7:56 am

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

    • Wasana

      Member
      September 30, 2022 at 8:51 pm

      @sintolani113 hope this answers your question?

    • sintolani113

      Member
      October 1, 2022 at 3:45 am

      Thank you sir

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