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CBN Allows Use of Expired Drug Licences

January 28, 2026
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CBN Further Raises Benchmark Interest Rate To 27.25%
CBN governor, Olayemi Cardoso

Nigeria’s central bank has approved a temporary measure allowing importers to use expired drug regulatory licences to process import documentation, in a move aimed at preventing disruption to trade.

The Central Bank of Nigeria (CBN) said licences issued by the National Agency for Food and Drug Administration and Control (NAFDAC) that expired on 31 December 2025 may continue to be used for the processing of Forms M until 28 February 2026.

Forms M are mandatory documents required for importing goods into Nigeria.

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In a circular to authorised dealer banks, the CBN said the two-month grace period was necessary because importers have been unable to renew or validate their licences during NAFDAC’s transition to a new digital platform.

NAFDAC is migrating from the legacy Nigeria Integrated Customs Information System (NICIS II) to a new platform known as B’Odogwu, which is expected to integrate with the National Single Window for trade.

The central bank said the temporary approval would ensure uninterrupted import activities while the transition is completed.

“All authorised dealer banks are to continue accepting NAFDAC licences that expired on 31 December 2025 for the purpose of processing Forms M,” the statement reads, adding that the arrangement would lapse at the end of February.

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Nigeria’s trade system has faced repeated disruptions in recent years, with businesses often affected by regulatory changes and delays in digital reforms.

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Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa

Prosper Okoye

Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa

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