Automation of Form A on the Trade Monitoring System

CENTRAL BANK OF NIGERIA
Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE AND EXCHANGE DEPARTMENT 09-462 37830 09-462 37802 Email: ted@cbn.gov.ng IED/FEM/FPC/GEN/01/011 November 29, 2021 TO: ALL AUTHORIZED DEALERS THE GENERAL PUBLIC AUTOMATION OF FORM 'A' ON THE TRADE MONITORING SYSTEM This is to inform all Authorized Dealers and the General Public of the deployment of e-Form 'A'.

Accordingly, the e-Form 'A' shall replace the hard copy of Form 'A' for invisible transactions (PTA/BTA, medicals, education, other remittances etc.), with effect from November 30, 2021.

Consequently, all Authorized Dealers are required to ensure as follows:

1. That the processing of Form 'A' shall only be done electronically on the Trade Monitoring System accessible at www.tradesystem.gov.ng; 2. The General Public is required to obtain a valid Bank Verification Number (BVN) from their Authorized Dealer Banks. The BVN is a prerequisite for customers to access the Trade System for e-Form 'A'
   application; 3. The e-Form 'A' is web based and allows the General Public to initiate the Form from their offices/homes and submit same to the Authorized Dealer Bank; 4. A charge of =N=5,000.00 (Five Thousand Naira) as fee per declaration of e-Form 'A' is applicable with effect from November 30, 2021 and henceforth. There will be a direct debit of the processing bank's current account for each declaration which should be recovered from the customer by the bank. However, the charge on the customer for the e-Form 'A' should be separated from other bank charges; 5. All hard copies of Forms 'A' established on or before November 30, 2021 (prior to the commencement of the e-Form 'A') shall be utilized within 15 working days of the establishment of the Form; 6. For avoidance of doubt, all established hard copies of Forms 'A' for which disbursement had not been made within the transition period of 15 working days shall be deemed cancelled; 7. All Authorized Dealer Banks are enjoined to inform their customers of this development for compliance.

Please ensure strict compliance. Dr. O.S. NNAJI DIRECTOR TRADE AND EXCHANGE DEPARTMENT