CBN E-INVOICE NIGERIA – WHAT YOU NEED TO KNOW
CBN e-invoice for import and export into Nigeria? The introduction of e-valuator, e-invoices into import and export trade by the Central Bank of Nigeria has raised more dust. Virtually everyone in the Nigerian import and export trade is worried. Cargo clearance agencies are concerned that this new system will further complicate Customs processes. Importers are […]
NIGERIA IMPORT REQUIREMENT
Nigeria import requirement is constantly growing as the nation is growing. For example, in 1 January 2006, the government sought to abolish the Pre-Shipment Inspection Scheme for imports to Nigeria. Subsequently, there was the introduction of the Destination Inspection Scheme. Thus, new import guidelines, procedures and documentation requirements became effective from that date. Therefore, this […]
NIGERIA ECONOMY: A COUNTRY MOVING FORWARD?
Nigeria is made up of not less than 250 ethnic groups, each with her unique language. A recent survey puts the population of Nigeria at 203,442,505. Although the country is multi-ethnic, economic factors seem to be most talked about line of division in recent times. Nigeria plays a pivotal role in the economy of West […]
LAGOS FREE TRADE ZONE AND OIL AND GAS FREE ZONE
Lagos Free Trade Zone to do what exactly? Before now, sometimes around the year 2015, I had some ugly experiences with commercial banks in Nigeria handling documents relating to free zone shipment for my clients. The commercial banks continued to reject files sent to them for PAAR processing based on the reason that documents are […]
NESREA CLEARANCE PERMIT; HOW TO PROCES
What is NESREA clearance permit? Virtually all products imported into the Nigerian territory are under the SONCAP program. Hence, those products would have to undergo a two-step certification for SON Product Certificate and SONCAP Certificate for importation into Nigeria. However, a few used items are exempt from SONCAP program, and are therefore require different treatment. […]