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, extending relief to businesses affected by ongoing system transitions in Nigeria’s trade processing framework.
In a circular issued on January 26, 2026, by the Trade and Exchange Department and published on its website on Tuesday, the Central Bank of Nigeria said authorised dealer banks may continue processing Form M applications with NAFDAC licences that lapsed on December 31, 2025.
The approval runs for two months and will end on February 28, 2026.
The circular was signed by Aliyu M. Ashiru as the Director of the Trade and Exchange Department.
What the circular says
The circular read, “The Central Bank of Nigeria wishes to notify all Authorised Dealers Banks (ADBs) and the general public of a temporary dispensation offered by the National Agency for Food and Drug Administration and Control (NAFDAC) permitting the continued use of NAFDAC licenses that expired on 31st December, 2025, for the processing of Forms M for a two-month temporary dispensation ending February 28, 2026.”
The apex bank said the approval follows a temporary dispensation granted by the National Agency for Food and Drug Administration and Control, permitting the continued use of the affected licences strictly for Form M processing during the period.
System transition behind the approval
The CBN explained that the measure was necessitated by operational challenges arising from the migration away from the legacy NICIS II platform.
- According to the circular, importers have been unable to validate or renew NAFDAC licences following the transition, particularly due to difficulties encountered on the B’Odogwu platform after December 2025.
- To address the bottlenecks and avoid delays in import documentation, the CBN directed all authorised dealer banks to continue accepting the expired licences for Form M purposes within the approved window.
- The bank stressed that the dispensation is time-bound and urged banks to comply strictly with its terms, noting that the approval will lapse automatically on February 28, 2026.
The CBN added that the move is aimed at ensuring continuity in trade transactions while NAFDAC finalises the integration of its systems with the National Single Window.
What you should know
Form M is a mandatory electronic import documentation platform in Nigeria used to capture details of goods imported into the country, serving as the basis for trade monitoring, foreign exchange utilisation, and customs clearance.
It is processed through authorised dealer banks and linked to Nigeria Customs systems, making it central to import control, FX demand management, and trade data integrity.
- The platform helps regulators verify product compliance, applicable licences such as NAFDAC approvals, tariff classifications, and the legitimacy of import transactions before goods arrive in Nigeria.
- Oversight of Form M falls under the Central Bank of Nigeria, which regulates how foreign exchange is accessed for imports and sets operational rules for authorised dealer banks.
Through Form M policies, the CBN plays a direct role in managing Nigeria’s balance of payments, curbing trade-related FX leakages, and aligning imports with national economic and regulatory priorities.
