Alert: Central Bank of Nigeria Circular TED/FEM/FPC/PUB/01/001

Title: Guidelines on the Introduction of e-Evaluator, e-Invoicing for Import and Export in Nigeria

Summary: Effective February 1, 2022, all import and export operations in Nigeria will require the submission of an Electronic Invoice (e-Invoice) authenticated by Authorised Dealer Banks on the Nigeria Single Window portal - Trade Monitoring System (TRMS). The new regulation aims to achieve accurate value from import and export items and will operate on a Global Price Verification Mechanism guided by a benchmark price. Imports and exports with unit prices that deviate by more than 2.5 per cent from the verified global checkmate prices will be queried and not allowed to proceed.

Posted on: Friday, January 21, 2022

Download: TED/FEM/FPC/PUB/01/001