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What are the various processes from filling the form up to transaction consummation?

What are the various processes from filling the form up to transaction consummation?
What are the various processes from filling the form up to transaction consummation?
January 6, 2020 Kelechi Okekeghe

A prospective Importer goes to the Federal Inland Revenue Service (FIRS) to register his/her Tax Identification Number (TIN) (i.e. Peculiar Number given to individual Tax Payer). The TIN is registered by the FIRS and on the SINGLE WINDOW PORTAL [(i.e. Website used in processing Form M and Pre-Arrival Assessment Report (PAAR)]
The Documents required for Form M processing are:

  • Filled and Endorsed E-Form M Submission Form.
  • Pro Forma Invoice (which has a validity period of 90days)
  • Insurance Certificate (which must be typed and it must be 110% of C&F value)
  • An Endorsed SONCAP PERMIT/Product Certificate for Standard Organization of Nigeria (SON) regulated Products.
  • National Agency for Food and Drugs Administration and Control (NAFDAC) Permit for food, drugs and chemicals.
  • Department of Petroleum Resources (DPR) Permit for Oil and Gas Products.
  • Power holding Company of Nigeria (PHCN) Permit for Importation of Electricity Generators.
  • FISHERIES PERMIT for Fish Importation

IMPORTANT FACTS:

  • Note that Form M charge is N8,150 (BANK 3000 + 5000CBN + 150VAT)
  • Note that PAAR charge is N2, 625 (BANK2500 + 125VAT)
  • Note that Form M Extension Charge is N5, 250
  • Handwritten Insurance Certificates are not acceptable for Form M processing.
  • Insurance Value must be 110% of CFR Value.
  • SONCAP PERMIT/PRODUCT CERTIFICATE must be endorsed by the Authorized SON Officials.
  • Forms M/ BA Numbers are generated after Form M has been submitted to the Nigerian Customs for Approval via the SINGLE WINDOW FOR TRADE Platform.
  • Item of Import that is inspectable are preceded by “BA” non-Inspect able Import items are preceded by “CB”
  • Customers get an alert immediately the Form M has been Submitted and Approved respectively.
  • Importer sends the Form M and BA NUMBER to the beneficiary abroad to Inspect able items of Import.
  • Beneficiary sends the shipping documents for Pre-Arrival Assessment Report (PAAR)
  • The Shipping Documents include: Bill of lading, Commercial/Final Invoice, CCVO, Packing
    List, Certificate of Analysis, and manufacturer’s Certificate of Production.
  • After the shipping has been processed via Single Window Platform for PAAR applications, the NCS issues the Pre-Arrival Assessment Report.
  • Exchange Control Document is submitted to the Bank after Goods as been cleared.
  • Amendment of Approved Form M on the Single Window Portal is not possible.
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