The Central Bank of Nigeria (CBN) has issued a new directive allowing Nigerian banks to temporarily accept National Agency for Food and Drug Administration and Control (NAFDAC) licences that expired on December 31, 2025, for import-related transactions. The directive is aimed at ensuring smooth processing of Forms M and access to foreign exchange for affected importers.

According to the CBN, the two-month grace period will run until February 28, 2026. This temporary measure is designed to prevent disruptions to trade while NAFDAC completes its migration from the old NICIS II platform to the new B’Odogwu digital system. The apex bank noted that the transition process requires flexibility to avoid delays in import activities.

The directive was contained in a circular signed by the Director of the Trade and Exchange Department, Aliyu Ashiru. The CBN instructed all authorised dealer banks to continue accepting the expired NAFDAC licences strictly for Form M processing within the approved period, stressing that banks must comply fully with the guidelines attached to the dispensation.

The CBN added that the temporary approval was granted by NAFDAC to support importers and stabilise trade operations during the system change. Importers and banks have therefore been advised to take advantage of the grace period while ensuring that all necessary updates are completed before the deadline.