Regulatory Alerts2008-07-03 | TED-FEM-FPC-GEN-01-071-08Compliance with Destination Inspection of Imports Scheme Guidelines - Re: Registration of Forms "M"
The Central Bank of Nigeria sent a letter to authorized dealers and the general public reminding them to register and approve Forms "M" before initiating import processes. The letter warns that shipping documents should not predate the registration date of Forms "M," and any deviation from the guidelines will be considered ineligible. B. Musa, the Acting Director of the Trade and Exchange Department, emphasizes that requests for guideline waivers will be declined.
Tel: 09 616 37 804 May 23, 2007 Fax: 09 616 37 802 Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja E-mail address:ted@cenbank.org Our Ref: TED/FEM/FPC/GEN/01/069 July 2, 2008 To: ALL AUTHORISED DEALERS AND GENERAL PUBLIC COMPLIANCE WITH DESTINATION INSPECTION OF IMPORTS SCHEME GUIDELINES RE: REGISTRATION OF FORMS "M" It has been observed that the incidence of shipping documents predating the registration date of Forms "M" is on the increase. This is contrary to the existing guidelines on import transactions. Accordingly, Authorized Dealers and the general public are hereby reminded that Forms "M" should be duly registered and approved by the Service Providers for Destination Inspection before the commencement of the other import processes, failing which such transactions shall be considered ineligible. For the avoidance of doubt, any request for the waiver of the guidelines shall be declined. Please be guided accordingly. B. MUSA Ag. DIRECTOR TRADE & EXCHANGE DEPARTMENT