CBN Grants Two-Month Grace Period for Expired NAFDAC Licenses to Prevent Trade Disruptions

The Central Bank of Nigeria (CBN) has approved a two-month temporary dispensation to allow the continued use of NAFDAC licenses that expired on December 31, 2025, in the Form M process. This grace period aims to prevent trade disruptions in the nation.

The circular signed by Aliyu M. Ashiru, the Director of the Trade Exchange Department, authorizes dealer banks like ADB to accept expired licenses for processing Form M until February 28, 2026.

This temporary dispensation became necessary due to the transition from the legacy NICI II system to the new B-ODOGWU platform. The CBN noted that this two-month window is intended to ensure uninterrupted trade operations until NAFDAC completes the integration of its system with the new National Single Window.

Dealer banks are required to strictly comply with the terms of the dispensation to prevent disruptions in the trade process.