Form M processing and Activation

1
Form M processing and Activation

• 1/ Importers submit the form M application to the
  Applicant Dealer Bank (ADB)
• 2/ ADB approves or rejects form M application
  based on the supporting documents
• 3/ Once approved, ADB send Form M to the
  appropriate Scanning Companies
• 4/ Scanning Companies approves or rejects Form M
  to the bank
• 5/ Form M once accepted must be utilized within 6
  months (Plant and Machinery 12 months) .

2
DOCUMENTS AND DISPATCH REQUIREMENTS

• 1/ The FORM M number should be communicated to
  the Exporter
• 2/ The FORM M number should be stipulated on the
  original invoice, combined certificate of value
  (CCVO), packing list and air waybill or Bill of
  Lading
• 3/ Exporters provides CCVO (not attested) and all
  other documents to ADB in Nigeria
• 4/ Authorized Dealer Bank sends set of
  documentation to the appropriate Scanning Company
• 5/ Scanning Companies perform Tariff
  Classification valuation, Risk Assessment and
  issue the RAR
• 6/ Scanning Companies forwards the RAR to
  Authorized dealer bank and Nigerian Customs.
• 7/ Documentation should be received by the ADB
  within 14 days after departure of cargo

3
FORM M VALID FOR FOREX with or without letter of
credit

• 2 sets of final docs
• Supplier Offshore Bank Overseas
• ? Corresponding bank
• Form M 1 set of final docs
• Importer Authorized Dealer Bank
• Scanning Companies

4
FORM M NOT VALID FOR FOREX

• Supplier
• Form M 3 sets of
  final docs
• Importer Authorized Dealer Bank
• Scanning Companies

5
R.A.R, CUSTOMS CLEARANCE DELIVERY

• 1/Importer or SDV NIG collect RAR from ADB
• 2/SDV completes and lodges Customs entry to
  Customs
• 3/ Customs assesses duties, surcharges and taxes
• 4/ Importer pays duties and taxes to designated
  Bank
• 5/ Shipping Delivery Order
• 6/ Customs determines the intervention level
• Scanning of containers only at APAPA and
  TINCAN docks
• Direct release
• Physical examination
• 7/ Completion of customs release with all other
  authorities
• 8/ Terminal Delivery Order