By Muhammad Mamman
In a move aimed at easing supply chain disruptions, the Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for imported goods.
The decision, announced on Monday, allows importers to continue bringing in products while their NAFDAC renewals are processed, preventing potential bottlenecks in essential goods distribution. Industry insiders say the measure is particularly significant for pharmaceutical and consumer goods sectors, where delays in licencing can disrupt availability and increase costs.
The CBN emphasised that the temporary approval is strictly conditional, requiring importers to provide proof of pending licence renewal applications and adhere to all safety and regulatory standards. Officials warned that non-compliance could attract sanctions once the temporary window closes.
Analysts describe the move as a pragmatic step to balance regulatory compliance with market stability, ensuring that essential imports continue to reach Nigerian consumers without unnecessary delays.
This development comes amid broader efforts by regulators to streamline import processes while maintaining oversight, signalling a more flexible approach to trade facilitation in critical sectors.
