The Central Bank of Nigeria (CBN) has granted a temporary dispensation allowing importers to process Form M using valid National Agency for Food and Drug Administration and Control (NAFDAC) licences.
The directive is contained in a circular dated January 26, 2026, with reference number TED/FEM/PUB/FPC/001/001, issued by the apex bank.
According to the circular, the measure is intended to ease documentation challenges faced by importers of regulated products, particularly in situations where delays in regulatory processing could disrupt legitimate trade and supply chains.
Under the dispensation, authorised dealers are permitted to process Form M applications for eligible imports upon presentation of valid NAFDAC licences, pending the completion of other regulatory requirements, in line with existing foreign exchange and trade guidelines.
The CBN stressed that the approval is temporary and does not replace established regulatory procedures, noting that all importers are still required to comply fully with applicable laws and documentation standards within the stipulated timelines.
The apex bank advised deposit money banks and other authorised dealers to ensure strict adherence to the conditions of the dispensation, while maintaining robust due diligence and reporting obligations.
The circular forms part of the CBN’s ongoing efforts to balance trade facilitation with regulatory compliance, amid efforts to improve efficiency in Nigeria’s import documentation process.
