How To Get Proof of Funds to Travel Outside Nigeria
Getting proof of funds is where most people who wish to migrate (Japa) out of Nigeria get started. Be it that you are leaving in search of a greener pasture or for international education, it is mandatory that you present a proof of funds (POF) before the embassy of the country you are migrating to.this is very crucial and must be complied with before your visa application can be granted. However, due to high dollar-to-naira rates, lots of people are unable to meet these requirements. So in this article, we did discuss how to get proof of funds to travel outside Nigeria.
What Is A Proof Of Fund (POF)?
Proof of funds is a financial document that shows your financial power and capabilities. This can be inform of bank statements, evidence, or a legal asset declaration. It is mostly requested for people traveling abroad for education or work in order to give them a visa.it is also very much important to have this in cash or in form of documentary statement
Why Is Proof Of Funds Mandatory?
The reason why proof of funds is needed for all those wishing to get travel-abroad visas is not far-fetched. They obviously want to know your financial capabilities and whether or not you can cater to your needs over there until you settle down.
If you are traveling for education, perhaps in countries like Canada, the UK, or the United States, they want to be sure you are capable of funding your education for at least a specific period of time. So, before they accept your visa application, they will need to access your proof of funds. If your proof of funds requirement for a particular country is okay, your visa is granted.
How Do I Get Proof Of Funds In Nigeria?
There are no two ways to do this; just meet with your bank manager to present you with a statement of account or written and signed documents presenting how much you own with the bank.
Your proof of funds can also be in the form of a declaration of assets, or perhaps you swear an oath in court. Then, your lawyer presents a written and signed document, which may serve as your proof of funds document.
Note that it has to be legitimate; if you present a fake or forged proof of funds document before the embassy, you may be banned completely from such a country, and if you were able to prey on them and you bailed your way out with a fake one, if they catch you, you will most likely be deported immediately and may face severe sanctions.
The bank statement should be six months old at least,and should show natural transactions happening in the account. The Embassy will most likely contact your bank to find out if the statement is true or forged.It is important to know that your bank will most likely comply,because your visa application requires that your bank details be made known to the embassy.
4 Proof of Funds Alternatives
The issue of proof of funds has over the years hindered many people’s dreams of traveling abroad, and many often get frustrated when they get to this stage. And because, in Nigeria, the majority of the population is poor or low-income earners, this often sets in as a huge hindrance; people who had to make do with their plans to settle or study abroad get discouraged and most likely back out.
Some countries may require you to have up to 6 Million in your account aside from your visa and ticket fees before your visa is approved. While, some people might not own up to that, hence their inability to get a visa, after all the money already spent.
We bring you good news as we discuss the top 4 alternatives to getting proof of funds.
Sponsor’s proof of fund
Since you don’t have the millions required in your account, why not get a rich person who is not necessarily your relative? Just get someone to present their financial statement and present his or herself as your sponsor. This is most definitely the most viable option: a sponsor’s proof of funds.
Use a Gift Deed
This is more similar to using a sponsor’s POF. A gift deed is a document that shows that someone is already in place to meet your stay-abroad needs. If you have a close relative as your sponsor, you might not need this.
Get a fully funded international scholarship
If your dream of traveling abroad is to study abroad and your proof of funds document might fail to meet the requirements, why not apply for international scholarships? There are so many fully funded abroad scholarships, especially for African students. Get valid information and apply for as many as possible. If, luckily, you get awarded any, you would not need to present any proof of funds.
The advent of student and travel-abroad loans has obviously made it easier for Nigerians to travel abroad without needing any POFs. Thanks to platforms like Mpower financing and FundAll, almost anyone can now forge ahead with their travel-abroad dreams by obtaining a loan. Most companies offering travel loan charges at interest rate of 3 percent of the loaned sum per month. you can obtain this for business visa and student visa or tourist visa if you wish to travel(Japa) from Nigeria.
PROOF OF FUNDS BANKS IN NIGERIA THAT YOU CAN PARTNER WITH IN NIGERIA.
The following banks can send to your bank account funds, and make your journey easier to abroad.
- Globus Bank 2. Guaranty Trust Bank ,3. Access bank Plc, 4.First bank Plc. Most of these banks offer these proof of funds through their representatives, and at an interest of 4% per month of the principal sum offered.
Thanks to these alternatives and more, you may not need to worry about proof of funds. Just use any of these to get POFs and travel abroad. Don’t try to forge anything; there is no lie. You did get caught eventually, and of course, you wouldn’t like the consequences of such actions.