NXP FORM IN NIGERIA: HOW TO PROCESS AND OBTAIN IT

NXP Form in Nigeria is Form M in the revers. What do we mean by this? The central bank of Nigeria requires every importation to Nigeria to go through Form M and PAAR. The Form M with information harnessed from proforma invoice, gives government agencies an estimate of what is to be imported. Hence, my colleague defined Form M as initial and estimated declaration to the government of import details.

Read Also: WHAT TO EXPORT FROM NIGERIA TO THE WORLD

Similarly, Form NXP does for the Exporter what Form M does for the Importer. Consequently, concerned government agencies want to know details of the export commodity. Therefore, this article will give an up-to-date information on how to process and obtain the export Form in Nigeria.

NXP FORM IN NIGERIA: WHAT IS FORM NXP?

Form NXP is an acronym that stands for Nigeria Export Proceeds Form. As the name suggest, the form gives authorized export dealers information on the goods for export. Authorized dealers in this case includes the Exporter’s bank, Nigeria Customs Services, Pre-shipment Inspection Agents, etc. Thus, by regulation, the Form NXP is a compulsory document that commercial Exporters must provide.

Before October 31 2019, the export proceeds Form was manually processed. The Exporter of goods was required to pick the form from his bank, complete and return to the bank. He also makes duplicate copies and sends to other agencies for completion. However, by the said date of October 31 2019, automation of the export Form began.

AUTOMATION OF NXP FORM

The Central bank of Nigeria in its circular dated October 28 2019, provided as follows:

“This is to inform all authorized dealer, Nigeria Customs, Pre-shipment Inspection Agents and the public of the development of e-Form NXP.

Accordingly, the e-Form NXP shall replace the hard copy Form for commercial exports with effect from October 31, 2019.

Consequently, all authorized dealers are required to ensure as follows:

1. The processing of Form NXP shall, electronically be done on the trade monitoring system.
2. Bank’s export customers are required to obtain a valid Tax Identification Number (TIN) from the FIRS. The TIN is prerequisite for customers to access the trade system for e-Form application.
3. The e-Form is web based and allows the Exporter to initiate the Form from their offices/homes and submit it to the Authorized Dealer Bank.
4. A charge of N5, 000.00 as fee per declaration for e-Form NXP is applicable with effect from October 31, 2019 and henceforth.”

With the above quotation from the central bank of Nigeria, it is clear that the export form in Nigeria is electronically processed. Let us now see how to process the form electronically.

HOW TO PROCESS ELECTRONIC FORM NXP

First, looking at the CBN circular partly quoted above, it is obvious that Tax Identification Number is the first requirement to electronic Form NXP.

Firstly, go to trade system website, choose exporters portal, and click on “GOTO PORTAL.”

Secondly, create account and login.

Thirdly, login will display the following general information page:

Equally, tap the cursor on the Form NXP and choose as appropriate if oil and gas or not oil export.

Click next to begin filling.

GOODS AND FINANCIALS PAGE:

Fill in the currency of transaction, shipping date estimate, destination country, etc. Others are the HS Code, price details, weights, and measurements. Use the add products button to add the number of goods.

SHIPMENT DETAILS PAGE:

Below you are to fill details such as consignees, port details, means of transportation, etc. In addition, you are to select PIA – Pre Inspection Agency. For details regarding PIA, kindly see my article for HOW TO EXPORT GOODS FROM NIGERIA TO OTHER COUNTRIES

BANK DETAIL PAGE:

Here you should fill in bank account details and select authorized dealer bank for the export.

PERMITS AND ATTACHMENT PAGE:

Here you are required to attach minimum of the proforma invoice and the NEPC certificate. NEPC is Nigeria Export Promotion Council. For more on NEPC, see my article for NIGERIA EXPORT PROMOTION COUNCIL: EXPORT GOODS FROM NIGERIA. Furthermore, use the add attachment button to add more papers as desired. Some people choose to upload documents like NAFDAC certification or SGS to boost their application.

PREVIEW PAGE:

Check for correctness and submit the Form.

DOCUMENTS REQUIRED FOR FORM NXP:

The required minimum documents to attach with the electronic Form are as follow:

• The proforma invoice
• Exporter’s certificate of registration with Nigeria Export Promotion Council – NEPC

CONCLUSION:

The NXP Form stands for Nigeria Export proceeds Form. In my words, I define it as Form M in the reverse. Therefore, it is a compulsory document for the export of commercial commodities out of Nigeria. The Form is online, the Exporters or his Agent fills it directly. To process Form NXP in Nigeria, Exporters must first activate their TIN with FIRS. The Trade Monitoring System is a portal to where the form is processed. Lastly, we are experts in handling import and export goods. Why not allow us use our expertise to take up your export from documentation to finish?

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