Electronic Foreign Exchange forms (e-form M) were introduced by the Central Bank of Nigeria (CBN) and Nigeria Customs Service (NCS). The pilot phase for the processing of electronic form M commenced November 22, 2012, while the full implementation begins on December 06, 2012.
Features & Benefits
- The automation of international trade transactions and
- Reduction of turnaround time from importation to the clearing stage of all international trade transactions.
The requirements for accessing and using the single window platform include:
- Registration of Taxpayer Identification Number (TIN) at Federal Inland Revenue Service (FIRS) offices.
- Validation of TIN by Customers with existing TIN at FIRS offices.
- Logging on to FIRS portal to register as ‘importer’.
- Logging on to https://app.trade.gov.ng/formx by Bank/customer to initiate the e-Form M.
- Forwarding all original documents (Proforma Invoice, Insurance etc.) to the Bank for approval.
Kindly note that e-mail notifications will be sent to you once the Form M is approved by the Bank and also when the Form M is accepted/rejected by the Scanning Company.
Click here to download a complete guide on the new electronic form M.