Central Bank Demands E-marine Insurance Certificate as Mandatory for Form M
Electronic insurance policy certificate has now become mandatory for all importers who wish to obtain Form M, the Central Bank of Nigeria (CBN) said Wednesday.
In a circular released by the apex bank, importers are now required to provide digital marine insurance certificate with e-Form on the Nigeria trade portal.
The circular which was signed by the Director, Trade and Exchange Department, Dr. O.S. Nnaji, reads, “This is to inform all authorised dealers, Nigeria Customs Service and the general public that the Nigerian Insurers Association digital marine insurance certificates has been integrated with e-Form M on the Nigeria trade portal.
“Consequently, the NIA’s marine insurance certificate shall with effect from Monday September 14, 2020 be part of documentation requirements for the processing of e-form M.
“For avoidance of doubt, the use of hard copy marine insurance certificates for processing e-Form M is hereby discontinued from the effective date of this circular.”
In a circular released by the apex bank, importers are now required to provide digital marine insurance certificate with e-Form on the Nigeria trade portal.
The circular which was signed by the Director, Trade and Exchange Department, Dr. O.S. Nnaji, reads, “This is to inform all authorised dealers, Nigeria Customs Service and the general public that the Nigerian Insurers Association digital marine insurance certificates has been integrated with e-Form M on the Nigeria trade portal.
“Consequently, the NIA’s marine insurance certificate shall with effect from Monday September 14, 2020 be part of documentation requirements for the processing of e-form M.
“For avoidance of doubt, the use of hard copy marine insurance certificates for processing e-Form M is hereby discontinued from the effective date of this circular.”
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