Procedures for Registration of Forms 'M' for Goods "Not Valid for Foreign Exchange"

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CENTRAL BANK OF NIGERIA
Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE AND EXCHANGE DEPARTMENT E-mail address: ted@cbn.gov.nq TED/FEM/FPC/GEN/01/013 July 3, 2015 TO:
ALL AUTHORIZED DEALERS
AND THE GENERAL PUBLIC
PROCEDURES FOR REGISTRATION OF FORMS 'M' FOR
GOODS "NOT VALID FOR FOREIGN EXCHANGE"
This to inform all Authorized Dealers and the general public that effective from the date of this circular, all Forms )M to be established on Nigeria Single Window for Trade Portal for items Not Valid for Forex', should be accompanied with the following documents in addition to other regulatory permits where applicable:
1. Pro forma Invoice from the supplier 2. Insurance Certificate (marine/cargo)
3. Written confirmation from the Authorized Dealer Bank showing:
a. source of funds b. evidence of source of funds In addition, Authorized Dealers are required to forward hard copies of Forms 'M' relating to all items "Not Valid for forex" and the attachments indicated above to the Director Trade & Exchange Department, Central Bank of Nigeria, Abuja before validation for necessary approval.

We however wish to assure all importers and the Authorized Dealers, that this new measure will not in any way impede the smooth flow of the existing process as we will endeavor to ensure that all approvals are granted within forty-eight hours of receipt.

GENTRAL BANK OF NIGERIA
Please be guided and ensure compliance accordingly.

OLAKANMI I GBAD/
DIRECTOR
TRADE & EXCHANGE DEPARTMENT