- School fees
- Medical bills
- Training Courses
- Mortgage and others.
Value Proposition/Gain
Purchase fx through CBN fx windows at a considerable rate to pay for services.
Clients have access to foreign exchange in the official window.
Features
- Payment is through telegraphic transfer.
- Each payment type has its specific document requirement as stipulated in the Central Bank of Nigeria FX Manual.
Target Market
Students, Individuals, Companies etc
Form M
Form M is a mandatory statutory document to be completed by all importers for importation of goods denominated in foreign currency into Nigeria on CBN Single window.
Description
The life span of a Form M is 180 days (for general merchandise) and 365 days (for plant and machinery), after which an extension of 180 days (for general merchandise) and 365 days (for plant and machinery) can be granted on the Form M by the Authorized Dealer. Any further extension has to be approved by the Central Bank of Nigeria (CBN).
It is therefore mandatory for all importers to complete and register Form ‘M’ with Authorized Dealers at the time of placing orders whether the transaction is valid for foreign exchange or not. This is currently initiated electronically on Trade Portal provided by the Central Bank of Nigeria in conjunction with the Nigeria Customs Service.
Value Proposition/Gain
Process your importation documents seamlessly.
It brings all stakeholders together on a single platform.
Status of imported items are tracked with ease on the portal.
Features & Requirements
- PFI is valid for 90 days.
- e-Insurance Certificate is required.
- NAFDAC/SONCAP is required depending on the item of import.
- The life span of a Form M is 180 days (for general merchandise) and 365 days (for plant and machinery), after which an extension of 180 days (for general merchandise) and 365 days (for plant and machinery) can be granted on the Form M by the Authorized Dealer. Any further extension has to be approved by the Central Bank of Nigeria (CBN).
Target Market
