Regulatory Alerts2020-09-07 | TED/FEM/FPC/GEN/01/006Integration of Digital Marine Insurance Certificate
The Central Bank of Nigeria has integrated the Nigerian Insurers Association's digital Marine Insurance Certificate with the e-Form 'M' on the Nigeria Trade Portal. This integration will streamline the documentation process for trade transactions by making the NIA's Marine Insurance Certificate a mandatory requirement for processing the e-Form 'M' from September 14, 2020, onwards. As a result, the use of hard copy marine insurance certificates for this purpose has been discontinued.
CENTRAL BANK OF NIGERIA Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE AND EXCHANGE DEPARTMENT 09 46237831 09 46237809 E-mail address: ted@cbn.gov.ng TED/FEM/FPC/GEN/01/006 September 7, 2020 TO: ALL AUTHORIZED DEALERS NIGERIA CUSTOMS SERVICE THE GENERAL PUBLIC INTEGRATION OF DIGITAL MARINE INSURANCE CERTIFICATE WITH e-FORM 'M' ON THE NIGERIA TRADE PORTAL This is to inform all Authorised Dealers, Nigeria Customs Service and the General Public that the Nigerian Insurers Association (NIA) digital Marine Insurance Certificate has been integrated with e-Form 'M' on the Nigeria Trade Portal. Consequently, the NIA's Marine Insurance Certificate shall with effect from Monday September 14, 2020 be part of documentation requirements for the processing of e-Form 'M'.
For the avoidance of doubt, the use of hard copy Marine Insurance Certificate for processing e-Form 'M' is hereby discontinued from the effective date of this circular.
Please ensure compliance. Thank you. Yours Faithfully DR O.S. NNAJI DIRECTOR TRADE AND EXCHANGE DEPARTMENT