- The CBN has approved a two-month window allowing importers to use NAFDAC licences that expired on December 31, 2025
- Importers need to obtained Form M processing to be allowed access to forex for imports
- Authorised dealer banks must comply strictly with the directive, as the approval will be for 2 months
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) has approved a temporary window allowing importers to use expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for import documentation, easing disruptions caused by ongoing system transitions in Nigeria’s trade processing framework.
In a circular dated January 26, 2026, and published on its website on Tuesday, the apex bank said authorised dealer banks (ADBs) may continue to process Form M applications using NAFDAC licences that expired on December 31, 2025.
Photo: izusek
Source: Getty Images
CBN gives importers 2 months grace
The approval, which takes immediate effect, is valid for two months and will lapse on February 28, 2026, the CBN said.
The circular was signed by Aliyu M. Ashiru, Director of the Trade and Exchange Department.
The circular stated:
“The Central Bank of Nigeria wishes to notify all Authorised Dealer Banks and the general public of a temporary dispensation offered by NAFDAC permitting the continued use of NAFDAC licences that expired on 31st December, 2025, for the processing of Forms M for a two-month period ending February 28, 2026.”
The CBN explained that the decision follows a similar temporary dispensation granted by NAFDAC, allowing the affected licences to be used strictly for Form M processing within the approved window.
According to the apex bank, the measure was necessitated by operational challenges linked to the migration from the legacy Nigeria Integrated Customs Information System II (NICIS II) platform.
Importers, the CBN noted, have faced difficulties validating or renewing NAFDAC licences following the transition, particularly due to issues encountered on the B’Odogwu platform after December 2025. These challenges have slowed import documentation and risked disrupting trade flows.
To prevent further delays, the CBN directed authorised dealer banks to continue accepting the expired NAFDAC licences for Form M purposes during the temporary dispensation period.
The apex bank stressed that the approval is strictly time-bound and warned that it will lapse automatically on February 28, 2026 and urged banks to comply fully with the terms of the directive, Punch reports.
The CBN added that the measure is intended to ensure continuity in trade transactions while NAFDAC completes the integration of its systems with the National Single Window.
Form M for importers
Form M is Nigeria’s mandatory electronic import documentation platform, used to capture details of goods imported into the country. It serves as a key tool for trade monitoring, foreign exchange utilisation, and customs clearance.
Photo: Nurphoto
Source: Getty Images
Processed through authorised dealer banks and linked to Nigeria Customs systems, Form M plays a central role in import control, FX demand management, and trade data integrity.
The platform enables regulators to verify product compliance, required licences such as NAFDAC approvals, tariff classifications, and the legitimacy of import transactions before goods arrive in the country.
Through its Form M policies, the apex bank plays a direct role in managing Nigeria’s balance of payments, reducing trade-related FX leakages, and aligning imports with national economic and regulatory objectives.
Customs makes temporary car imports cheaper and easier
In a related development, the Nigeria Customs Service (NCS) has commenced the implementation of procedures to grant safe passage to personal vehicles temporarily imported into or transiting through Nigeria by international travellers.
In a statement signed by Abdullahi Maiwada, Deputy Comptroller of Customs and National Public Relations Officer, the service said the initiative is anchored on the Nigeria Customs Service Act, 2023, and supported by relevant international conventions governing the temporary admission and transit of vehicles.
Source: Legit.ng