NIGERIA IMPORT DUTY PAYMENT;Importer shall continue to pay an administrative charge of 1% of FOB value of all imports based on the exchange rate on the approved e-Form M.
All imports shall continue to be assessed for duty at the C. I. F. value of the goods using the rate of exchange on the approved e-Form M.
It shall be the duty of the importer’s bank through which the e-Form M was processed to collect the amount of import duty as assessed. The Import Duty payment shall continue to be restricted to the bank that opened the e-Form M in line with the existing regulation. However, for non e-Form M transactions, payment can be made at any preferred authorised dealer bank.
The Designated Bank will match printed assessment notice with the electronically received assessment notice for the SGD. If the information tallies the bank will receive payments and issue signed Bank receipt.
The Bank then sends an e-confirmation message to NCS acknowledging receipt of duty and taxes in respect of the SGD.
The designated bank shall continue to electronically transfer all payments to the respective pool account with CBN.
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