CBN fixes date to begin e-invoice for importers, exporters

The Central Bank of Nigeria (CBN) says it will begin e-invoice for imports and exports in the country from Feb. 1, 2022.

The apex bank made the disclosure in a circular to all authorised dealers and the general public, and signed by its Director, Trade and Exchange Department, Dr. O. S. Nnaji, and posted on its official website on Friday.

It explained that all import and export operations would require the submission of an electronic invoice authenticated by the authorised dealer banks on the Nigeria single-window portal – Trade Monitoring System.

The circular is titled ‘Guidelines on the introduction of e-valuation, e-invoicing for import and export in Nigeria”.

It informed dealers and the general public that the introduction of e-valuator and e-invoice replaced hard copy final invoice as part of the documentation required for all import and export transactions.
It said that the supplier’s/seller’s invoice must be submitted in electronic format and authenticated by authorised dealer bank as part of the documentation for payment.

“No importer/exporter may effect payment to the credit of any foreign supplier unless the electronic invoice has been authenticated by authorised dealer banks presented together with the relevant document for payments”. (NAN)


Please enter your comment!
Please enter your name here