NIGERIANS in Diaspora Organisation (NIDO), Germany, would like to bring to your notice a Central Bank’s policy that is currently hindering Nigerians admitted to study in Germany from fulfilling one of Germany’s basic requirements for the issuance of student visa and residence permit.
The CBN policy stipulates that students can only source foreign currency at the banks if the money is transferred to the account of the admitting institution abroad (not into the student’s account).
However, prospective international students from non-EU countries must pay their annual sustenance allowance into a ‘blocked account’ (Sperrkonto) in their own name at a German bank to be issued a visa enabling them to study and reside in Germany.
The account is called a ‘blocked account’ because the owner can only withdraw a certain amount monthly from the account and it ensures that foreign students are able to take care of themselves throughout the academic year.
Tuition is generally free in Germany and this money required to be paid into a ‘blocked account’ is the basic financial requirement (Proof of Funding) for the issuance of visa to non-EU foreign students admitted to study at German institutions.
Currently, the amount required to be paid into the blocked account when applying for a student visa to Germany is 10,332 euros.
The CBN policy is preventing many students from meeting their visa application deadlines, which may make them lose their admission altogether.
We therefore appeal to the CBN to make an exception to its rule for the benefit of Nigerians admitted to study at German educational institutions.
Femi Awoniyi
President, NIDO
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