Central Bank of Nigeria threw importers a crucial two-month reprieve Tuesday, greenlighting the use of expired NAFDAC licences for Form M processing until February 28, as technical glitches from the Nigeria Integrated Customs Information System II migration snarl fresh validations on the glitchy B’Odogwu platform.
CBN
In a January 26 circular from the Trade and Exchange Department, signed by Aliyu M. Ashiru, the CBN directed authorised dealer banks to keep accepting NAFDAC permits that lapsed December 31, 2025, smoothing critical import flows for food, drugs, and consumer goods vital to Nigeria’s battered supply chains amid naira volatility and port backlogs.
The temporary fix, secured via NAFDAC’s own dispensation, targets chaos from the agency’s system overhaul that left thousands of traders stranded, unable to renew licences and clear shipments of life-saving meds, staples, and raw materials fuelling factories from Kano to Calabar.
CBN stressed the window ensures trade continuity while NAFDAC fuses its portal with the National Single Window, but warned banks against laxity – post-February 28, only crisp, valid licences will fly, slamming the door on extensions in Africa’s trade gateway already choking on dollar shortages and red tape.
Importers exhaled in relief, with clearing agents hailing the move as a “breath of fresh air” averting multimillion-naira demurrage fees and empty shelves, though industry voices demand permanent digital upgrades to kill perennial bottlenecks hobbling President Tinubu’s pro-business blitz.
As Nigeria’s import machine grinds – 70% of pharma and 40% of food reliant on foreign inflows – the CBN’s pragmatic patch underscores the tightrope walk between regulation rigour and economic survival in a nation where every delayed container spells hunger or higher prices for 200 million consumers.
