CBN Allows Temporary Use of Expired NAFDAC Licenses for Imports Until Feb 2026
The Central Bank of Nigeria (CBN) has authorized a temporary window allowing the use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licenses for imports until February 28, 2026. This move aims to alleviate challenges faced by businesses due to system changes in Nigeria's trade processes.
The decision was made to address operational difficulties linked to the migration to a new customs information system. The CBN's approval is part of efforts to ensure seamless trade transactions until NAFDAC completes its integration into the national single window system.
This initiative aligns with the government's push towards digitalizing and streamlining the nation's import and export processes, enhancing transparency, reducing bureaucracy, and improving Nigeria's global trade competitiveness.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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