Breaking! CBN says Price Verification System now mandatory for all Form M requests.

Segun Oladipupo

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The Central Bank of Nigeria (CBN) has introduced a Foreign Exchange (FX) Price Verification System (PVS) portal to enable importers to access forex.

This is contained in a statement by CBN on Thursday night

The apex bank noted that a price verification report from the portal is now mandatory for all Form M requests, effective from August 31, 2023.

The Form M is a declaration of intention to import physical goods into the country.

More details later.