Your Complete Checklist for Establishing Form M with Nigerian Banks.
If you intend to import goods into Nigeria, one of the first and most crucial regulatory steps is to establish a Form M. This mandatory statutory document is required by the Federal Government of Nigeria and is designed to monitor and control imports into the country, ensuring compliance with trade and regulatory standards.
What is Form M?
Form M is an import declaration document that must be completed and registered with an Authorized Dealer Bank (ADB) before placing an import order. Whether or not the transaction is valid for foreign exchange, this form must be completed electronically through the Central Bank of Nigeria (CBN) Trade Portal, in conjunction with the Nigeria Customs Service (NCS).
Validity of Form M
- General merchandise: Valid for 180 days
- Plant and machinery: Valid for 365 days
Upon expiration, a one-time extension can be granted by the Authorized Dealer Bank:
- Additional 180 days for general merchandise
- Additional 365 days for plant and machinery
Any further extension beyond this period requires direct approval from the Central Bank of Nigeria (CBN).
Documents Required to Open a Form M
To establish a Form M through any commercial bank in Nigeria, you will need the following key documents:
- Cotecna Product Certificate
- Proforma Invoice
- Valid Insurance Certificate
Let’s take a closer look at each requirement:
1. Cotecna Product Certificate
This is a crucial document under the Standards Organisation of Nigeria Conformity Assessment Programme (SONCAP). It verifies that the goods being imported comply with Nigerian safety and quality standards. Cotecna is one of the SON-approved inspection and certification bodies authorized to issue Product Certificates and SONCAP Certificates.
How to Get a Product Certificate from Cotecna:
To obtain a Product Certificate from Cotecna, follow these steps:
Step 1: Application
- Contact Cotecna via our official website or local Nigeria office.
- Submit an application for a Product Certificate under the SONCAP program.
Step 2: Documentation
- Provide the product test reports from accredited laboratories.
- Submit technical specifications, user manuals, and product labels for review.
Step 3: Product Evaluation
- Cotecna will assess your product against relevant Nigerian Industrial Standards (NIS).
- Depending on your application, we may conduct a factory inspection or request additional documents.
Step 4: Issuance
- Upon successful evaluation, Cotecna will issue the Product Certificate, which can then be used to initiate the Form M process.
Note: This certificate is different from the SONCAP Certificate, which is obtained at a later stage in the import process, usually after final inspection and before clearance of goods at Nigerian ports.
2. Proforma Invoice
A Proforma Invoice must be obtained from the exporter and must include:
- Full product description
- HS Codes
- Quantity
- Unit and total price
- Payment terms
- Port of loading and destination
This invoice must be accurate and match all other documents.
3. Valid Insurance Certificate
You must obtain a marine or import insurance certificate from a Nigerian insurance company. This ensures coverage of the goods in transit and is mandatory for customs processing.
Completing a Form M is a foundational step in ensuring smooth customs clearance and compliance with Nigerian import regulations. Partnering with reputable organizations like Cotecna for your product certification guarantees that your goods meet the required standards and avoids delays or rejections at the port.
For more information or assistance with obtaining a Product Certificate from Cotecna, you can reach out to Cotecna Nigeria directly or download our free Nigeria Exporter Guide.
About Cotecna
For over 50 years, we have been supporting agriculture, food and pharma, minerals and metals, and consumer products supply chains all over the world. We provide testing, inspection, and certification services to help our clients navigate evolving regulations, ensure product compliance, and support their sustainability journey.