Regulatory Alerts2022-01-21 | TED/FEM/FPC/PUB/01/001Added · Updated
Guidelines on the Introduction of e-Evaluator, e-Invoicing for Import and Export in Nigeria
The Central Bank of Nigeria (CBN) introduces e-Valuator and e-Invoicing for all import and export transactions, effective February 1, 2022. This new regulation aims to ensure accurate valuation of goods entering or leaving Nigeria, with a benchmark price set by the global spot market. The use of e-invoices is subject to specific guidelines, including price verification and authentication by Authorized Dealer Banks, with certain exemptions for low-value transactions, security agencies, diplomatic missions, and humanitarian donations.
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