CBN Permits Banks to Accept Expired NAFDAC Licences for Imports Temporarily

The Central Bank of Nigeria (CBN) has issued a directive allowing banks to receive expired licenses from the National Agency for Food and Drug Administration and Control (NAFDAC) for imports over the next two months. This move aims to ease the challenges faced by importers due to delays in obtaining renewed licenses.

The decision is expected to facilitate smoother import processes and support businesses during this period. The CBN's intervention is a temporary measure to alleviate the burden on importers and ensure the continuity of trade activities.

Importers can now utilize their expired NAFDAC licenses for the specified duration as banks have been given the green light to accept them.