The Central Bank of Nigeria (CBN) has been relentless in its bid to ensure export transactions are carried out through the regulated channels. The apex bank requires that the bills of laden of exports from Nigeria shall forthwith carry the Forms NXP number of the underlying cargo.
To this end, the apex bank has directed exporters to register Forms NXP with an authorised dealer before shipment. The CBN Director of Trade and Exchange Department, Gotring W. D., has issued a circular to all authorised dealers, exporters and the general public. The directive is in compliance with the memorandum 11 of the foreign exchange manual.