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In Nigeria, the Corporate Affairs Commission (CAC) is mandated by government to incorporate businesses. To be an importer, the importing entity must be duly registered with the CAC. This is a one off registration.
As a means of ensuring the standards and quality of any imported pharmaceutical product, the importer is expected to register the product with the National Agency for food Drug Administration and Control (NAFDAC).
Form M is a mandatory documentation process put in place by the Federal Government of Nigeria through the Federal Ministry of Finance (FMF) and the Central Bank of Nigeria (CBN), to monitor goods that are imported into the country as well as enable collection of import duties where applicable. The importer is expected to process this document through his commercial bank.
The importer is also expected to pay some fees to the Terminal Operator for their services rendered as part of the clearance procedures.
The government regulatory and security agencies at the Seaport are duly invited for a joint examination of the shipment by the agent. This is to ensure that the exported goods are up to the specified quality and they do not pose any security threat to the country.
The government regulatory and security agencies at the border post are duly invited for a joint examination of the shipment by the agent. This is to ensure that the exported goods are up to the specified quality and they do not pose any security threat to the country.