The Central Bank of Nigeria has made a digital marine insurance certificate a mandatory requirement to obtain Form M.
The bank disclosed this in a circular, ‘Integration of digital marine insurance certificate with e-Form on the Nigeria trade portal,’ issued by Dr. O.S. Nnaji, Director of Trade and Exchange Department, on Wednesday
It also discontinued the use of the hard copy marine insurance certificate for processing e-Form M.
The circular stated, “This is to inform all authorised dealers, Nigeria Customs Service and the general public that the Nigerian Insurers Association digital marine insurance certificates have been integrated with e-Form M on the Nigerian trade portal.
“Consequently, the NIA’s marine insurance certificate shall with effect from Monday, September 14, 2020 be part of documentation requirements for the processing of e-form M.
“For avoidance of doubt, the use of hard copy marine insurance certificates for processing e-Form M is hereby discontinued from the effective date of this circular.”
