The Central Bank of Nigeria (CBN) has approved a temporary two-month waiver allowing banks to process imports using expired NAFDAC licences, easing pressure on traders affected by ongoing system changes.
Under the arrangement, authorised dealer banks (ADBs) may continue to accept NAFDAC licences that expired on December 31, 2025, for the purpose of processing Forms M—the mandatory document used to register goods for importation—until February 28, 2026.
The approval was communicated in a circular issued on Monday and signed by Aliyu Ashiru, director of the CBN’s trade and exchange department.
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The central bank said the decision followed disruptions caused by the transition from the NICIS II platform and the inability of importers to validate or renew NAFDAC licences on the B’Odogwu system after December 2025.
“The temporary dispensation has become necessary due to the transition from the legacy NICIS II system and the inability of importers to validate or renew NAFDAC licences,” the CBN said.
Banks were instructed to continue processing Forms M with licences that expired at the end of 2025, while ensuring strict compliance with the terms of the waiver, which lapses at the end of February.
The CBN said the measure is intended to prevent disruptions to trade while NAFDAC completes the integration of its systems with Nigeria’s new national single window platform.
Oluwatosin Ogunjuyigbe
Oluwatosin Ogunjuyigbe is a writer and journalist who covers business, finance, technology, and the changing forces shaping Nigeria’s economy. He focuses on turning complex ideas into clear, compelling stories.
