The Central Bank of Nigeria (CBN) has granted a temporary approval allowing importers to use NAFDAC licences that expired on December 31, 2025, for import processing until February 28, 2026. The directive was issued to Authorised Dealer Banks to ensure trade activities are not disrupted.
The measure applies specifically to the processing of Form M, a mandatory document required for import transactions and access to foreign exchange. The CBN said the decision follows difficulties faced by importers in renewing licences due to ongoing upgrades in Nigeria’s trade processing systems.
The apex bank stressed that the arrangement is strictly temporary and will expire at the end of February, urging stakeholders to complete their licence renewals within the grace period. Visit www.jocomms.com for more news.