CBN allows expired NAFDAC licences for Form M processing

Central bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for the processing of Form M, in a move aimed at preventing disruptions to import-related trade activities.

In a circular dated January 26, 2026, and addressed to all authorised dealer banks and the general public, the apex bank said NAFDAC licences that expired on December 31, 2025, may continue to be used for Form M processing until February 28, 2026.

The CBN explained that the two-month dispensation was granted following approval by NAFDAC and became necessary due to the ongoing transition from the legacy Nigeria Integrated Customs Information System II platform. The transition has made it difficult for importers to validate or renew NAFDAC licences on the B’Odogwu platform since December 2025.

According to the apex bank, the temporary measure is designed to ensure continuity in trade operations while NAFDAC completes the integration of its systems with the new national single window.

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Under the directive, authorised dealer banks are required to continue accepting NAFDAC licences that expired on December 31, 2025, strictly for the purpose of processing Forms M and to ensure full compliance with the terms of the dispensation, which lapses on February 28, 2026.

Aliyu M. Usman, director, Trade and Exchange Department, said the intervention is targeted at avoiding bottlenecks in import documentation and safeguarding trade flows during the system transition period.

The CBN urged all stakeholders to take note of the directive and ensure strict compliance within the approved timeframe.

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ByHope Moses-Ashike

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Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.