Automation of Nigerian Export Proceeds (NXP) Form

Automation of Nigerian Export Proceeds (NXP) Form

Raphael Orji Raphael Orji November 5, 2019

Automation of Nigerian Export Proceeds (NXP) Form

This is to inform you that the Central Bank of Nigeria has deployed the automation of the Form ‘NXP’ (Nigeria Export Proceeds Form) for commercial exports (Oil and Gas and non-Oil) effective October 31st, 2019.

In compliance with this directive which is to replace the hard copy form ‘NXP’, kindly note the following:

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• e-form ‘NXP’ shall only be accessed via the trade Monitoring System www.tradesystem.gov.ng anywhere anytime.

• A Tax Identification Number obtained from the Federal Inland Revenue Service (FIRS)/Joint Tax Board (JTB) is required to access the Trade System website.

• An additional fee of N5,000 is applicable per e-form ‘NXP’ declaration.

• All hard copy forms ‘NXP’ established on or before October 30, 2019 shall be utilized within 90 days of the form’s establishment while the form ‘NXP’ for which shipment has not taken place within the transition period of 90 days shall be deemed cancelled.

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