Recent admission cycles, has gained rapid feedback from Nigerian applicants and education consultants that some UK universities are subjecting statements from some banks to additional scrutiny during the CAS issuance stage. In some cases, applicants claim that schools requested alternative financial evidence or preferred statements from more established commercial banks. The banks that received additional scrutiny were Parallex Bank, Globus Bank, all micro-finance banks and loan issuing firms.
This is a series of compliance responsibilities under the Student Sponsor system.
In order to avoid decrease in compliance metrics, some universities operate internal risk-assessment processes that are often stricter than UKVI’s minimum requirements.
The current UKVI guidance, has not specifically banned Parallex Bank, Globus Bank, or any other licensed Nigerian commercial bank. UKVI’s requirement is that funds must be held in a bank account that is regulated by the appropriate banking authority in the country where the bank operates and that the funds can be verified.
The best measures to take are:
1. Confirm approved Nigeria commercial banks your University can accept
2.Obtain a Strong Bank Reference Letter
3.Use a Well-Established Commercial Bank
4. Start Early
By doing this you are well prepared against any scrutiny that may lead to rejection or withdrawal of your application