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Nigeria mandates e-invoicing for imports and exports

02 March 2022
Nigeria

This new regulation aims to attain accurate price values for the flow of imports and exports in the country. Assuring accurate prices A Global Price Verification Mechanism would be a part of the new system, obtaining actual spot market prices at the time e-invoice transactions begin. Imports and exports of more than 2.5% of the verified spot market price will be questioned and not allowed to complete transactions. Registration platform Trading partners must ensure compliance with the new regulations. Suppliers and buyers operating in imports and exports will need to register on a dedicated electronic platform provided by the Central...