CBN’s Directive On E-invoice In order-Group

The Ohanaeze Youth Movement has commended the Central Bank of Nigeria (CBN) under the leadership of Dr. Godwin Emefiele, over the February 1 take-off date set for all importers and exporters to submit an electronic invoice (e-invoice) authenticated by the authorised dealer banks to the regulator.

The Ohanaeze Youth Movement, in a statement by its National Secretary, Nwada Chiamaka, said the CBN’s ‘guidelines on the introduction of e-valuation, e-invoicing for import and export in Nigeria’ released on Friday will consolidate economic growth and ease of doing business in Nigeria.

The CBN, had in a circular signed by the Director, Trade and Exchange Department, Dr. O. S. Nnaji, dated January 21, 2022 had announced the introduction of e-valuator and e-invoice, which replaces hard copy final invoice as part of the documentation required for all import and export transactions.

The statement  said: “We have taken note of the CBN’s directive to all importers and exporters to submit an electronic invoice (e-invoice) authenticated by the authorised dealer banks to the regulator.

“We note with pleasure that this is yet another step towards consolidating economic growth and ease of doing business in the country and should be lauded by all.

“We therefore call on all critical stakeholders to support this noble initiative so that the CBN can succeed in its quest to complete turnaround the nation’s economy for the better.”