CBN Eases Import Bottlenecks with Interim NAFDAC License Waiver

The Central Bank of Nigeria (CBN) has issued a directive permitting the use of expired NAFDAC licenses for import documentation to mitigate trade disruptions.

Policy Adjustment to Sustain Trade Flows

The central bank's decision provides a critical reprieve for importers. The policy is valid until February, ensuring that trade processing—a key component of foreign exchange interaction—remains fluid.

Regulatory Context

Market analysts view this move as a pragmatic step to prevent demurrage costs and goods congestion at ports, which could otherwise exacerbate inflationary pressures.

• Institution: CBN
• Regulatory Body: NAFDAC
• Validity: Until February
• Focus: Trade Liquidity and GDP support