Obinna Chima
The Central Bank of Nigeria (CBN) has
introduced electronic forms for commercial exports (e-Form NXP) to
replace the hard copy form that was in use previously.
In a notification to all authorised
dealers, the Nigeria Customs Service, pre-shipment inspection agents and
the general public, signed by Dr. O.S. Nnaji, on behalf of the
Director, Trade and Exchange Department, a copy of which was posted on
its website, the central bank said the e-Form ‘NXP’ becomes effective
from tomorrow.
Consequently, all authorised dealers
were required to ensure that the processing of the form is done
electronically on the Trade Monitoring System accessible at www.tradesystem.gov.ng.
Also, banks’ export customers were
required to obtain a valid Tax Identification Number (TIN) from the
Federal Inland Revenue Service(FIRS)/Joint Tax Board.
The TIN, according to the central bank, is a prerequisite for customers to access the trade system for e-Form NXP application.
“The e-Form NXP is web-based and allows
exporters to initiate the Form from their offices/homes same to the
authorised dealer bank. A charge of N5,000 as fee per declaration for
e-Form ‘NXP’ is applicable with effect from October 31, 2019 and
henceforth.
“There will be a direct debit of the
processing banks’ current account for each declaration which should be
recovered from the customer by the bank. However, the charge on the
customer for the e-Form ‘NXP’ should be separated from other banks’
charges.
“All hard copy Form ‘NXP’ established on
or before October 30, 2019 (prior to the commencement of the e-Form
‘NXP’) shall be utilised within 90 days of the establishment of the
form. For the avoidance, all established hard copy forms ‘NXP’ for
which shipment has not taken place within the transaction period of
90-day shall be deemed cancelled. All authorised dealer banks are
enjoined to inform their customers of this development for compliance,”
it stated.
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