Form M Processing
Form M is a statutory requirement for all physical import related transactions. Form M processing is electronically initiated on Trade Portal managed by CBN and Nigeria Customs Service and must be accompanied by the following documents:
• Proforma Invoice
• Local Marine Insurance
Other relevant regulatory documents such as NAFDAC, DPR, SONCAP depending on the item of import.
Form M can be processed on Valid and Not Valid for Foreign Exchange basis depending on whether official or non-official funds will be used for payment.
- Upload signed Proforma Invoices with a maximum validity of 90 days from its issuance
- All information on the Proforma Invoice, Insurance Certificate, Product Certificate and e-Form M application shall correspond and be void of conflicts.
The information includes:
- Proforma Invoice Number
- Proforma Invoice Date
- Country of Origin
- Country of Supply
- Port of Discharge
- Customs Office
- Total FOB Value
- Total Freight Value
- Total C & F Value
- Description of Import Item
- Country of Origin and Supply should be stated on the Proforma Invoice
- Select an appropriate payment mode and source of fund for your preferred Valid for Forex Status
- Choose the correct prefix BA/CB for your import item
- CFR is incoterm for SEA mode of transportation and CPT is incoterm for AIR mode of transportation
- Appropriate valid regulatory documents should be uploaded for the import item
- CBN approvals shall be obtained for import items found on the CBN 42 item exclusion circular before form M validation
- Correct HS Codes for exempted items on the revised CBN circular should be selected
All required documents must be correctly uploaded on the platform
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