Regulatory Alerts2025-08-01
Instruction No. 02-07-2025 RFE on the Domiciliation and Settlement of Goods and Services Imports
Issued by the external finance regulator, Instruction No. 02-07-2025 RFE mandates authorized domiciliary intermediaries to control and clear import files for goods and services by verifying full settlement documentation, including invoices and SWIFT messages. The regulation requires intermediaries to retain these files for ten years, promptly repatriate foreign exchange upon any import cancellation, and implement detection mechanisms to prevent payment splitting for transactions meeting or exceeding the domiciliation threshold. It repeals prior related directives, enters into force on July 1, 2025, and applies uniformly across the jurisdiction.
4 Article 7: Clearance of the Import Domiciliation File for Goods and Services The control and clearance of the import domiciliation file for goods and services operations are carried out by the authorized domiciliary intermediary. Following the full settlement of imports of goods or services based on the supporting documents referred to in Articles 5 and 6 of this Instruction, notably the invoice and the import certificate, the authorized intermediary files in the domiciliation file the debit advice related to the operation along with a copy of the financial settlement message (SWIFT or other), or any equivalent document, attesting to the delivery of foreign exchange. Subsequently, the "cleared" notation is recorded on the file and the register of domiciliations for imports of goods and services, indicating the clearance date. The files are retained by the authorized intermediary for a period of ten years, to be made available upon request to the Structure in charge of External Finance, the Customs Directorate, BCEAO, and the Banking Commission. Article 8: Repatriation of Foreign Exchange In the event of cancellation, for any reason whatsoever, of an import operation of goods or services, the importer is required to promptly repatriate the foreign exchange to the authorized intermediary. When the executed transfer has benefited from BCEAO coverage, the authorized intermediary promptly proceeds with the repatriation of the corresponding foreign exchange to BCEAO. TITLE IV: DIVERSE AND FINAL PROVISIONS Article 9: Prevention of Payment Splitting Authorized intermediaries are required to implement a prevention and detection mechanism for any attempt to split the payment of an import of goods or services whose amount meets or exceeds the domiciliation threshold. Article 10: Entry into Force This Instruction repeals all prior provisions dealing with the same subject, notably Instruction No. 02-07-2011/RFE of July 13, 2011, on the domiciliation and settlement of imports. It enters into force on July 1, 2025, and is published wherever necessary. Done in Dakar, on July 7, 2025