Here is Everything you need to Know about Form M
Fembol Group
We primarily manage logistics and procurement for large companies and SMEs through a unique stakeholder management appro
What is a Form M?
The Central Bank of Nigeria (CBN) and the Nigeria Customs Service introduced Form M, an online mandatory documentation process.
The Federal Government of Nigeria established it through the Federal Ministry of Finance (FMF) to monitor goods imported into Nigeria and collect import duties where applicable.
In a nutshell, the guidelines state that regardless of the value of their goods or whether payment is involved, all importers into Nigeria must process Form M through an Authorized Dealer Bank.
Where can importers obtain Form M?
The Form M can be obtained on the Federal Government of Nigeria Single Window for Trade portal or through the assistance of the importer’s Authorized Dealer Bank.
However, Form M can only be accessed when the importer has fulfilled the following requirements:
? Registration of a Taxpayer Identification Number (TIN) at the Federal Inland Revenue Service (FIRS) offices
? TIN validation by the importer at the FIRS offices
? Logging into the FIRS portal to register as an importer
? The Bank/customer has logged into https://app.trade.gov.ng/formx to initiate the Form M
? Forwarding all required documents (Proforma Invoice, Insurance, Certificates for items regulated by either SON or NAFDAC etc.) to the Authorized Bank for approval.
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What is the validity of a Form M?
The initial validity of an approved Form M is 180 days, but it can be extended for another 180 days by the Authorized Dealer Bank.
What are the requirements for opening a Form M?
To open a Form M the importer requires the following:
? Certificate of Incorporation/Registration of the company in Nigeria
? Registration with Federal Inland Revenue Services (FIRS)
? Proforma Invoice
? Insurance
? A Product Certificate (PC) for items regulated by SON
How do you obtain a Product Certificate?
To obtain a PC, you can contact us at Fembol Group, we will handle the whole documentation process from getting you Form M to Product Certificate process.
Fembol can also assist you in obtaining the SONCAP Certificate (SC), to process Pre-Arrival Assessment Report (PAAR) for clearance of goods from Nigeria port.
Should you need any further information on Form M or on how to obtain the Product and SONCAP Certificates, please contact us.
HR/Admin at D. Shed Nigeria Limited
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