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Before You Apply For Monitoring System (TRMS) Read What It All About

Before You Apply For Monitoring System (TRMS) Read What It All About

Before You Apply For Monitoring System (TRMS) Read What It All About

The Central Bank of Nigeria has replaced the Non-commercial Exports form (NCX) with an electronic version dubbed ‘the e-Form ‘NCX’.

This was disclosed in a circular titled, “Automation of Form ‘NCX‘ on The Trade Monitoring System” and signed by Dr Ozoemena Nnnaji, Director Trade and Exchange Department.

The Non-commercial Exports (NCX) form is usually completed by shippers or their agents and submitted to the bank for clearance, subject to the stated parameters in the foreign exchange manual. Form NCX was completed manually until the recent move by the CBN to automate the NCX Form.

What the CBN is saying

The circular reads “This is to inform all Authorized Dealers, Nigerian Customs Service (NCS), Shipping Lines & Airlines, National Museum & Monuments and the General Public of the deployment of e-Form ‘NCX’.

Accordingly, the e-Form ‘NCX’ shall replace the hard copy of Form ”NCX” for non-commercial exports, with effect from November 30, 2021.

Consequently, all Authorized Dealers are required to ensure as follows:

That the processing of Form ‘NCX’ shall only be done electronically on the Trade Monitoring system accessible at www.tradesystem.gov.ng;

Authorized Dealer Banks are to ensure that their customers obtain a valid Tax Identification Number (TIN) from Federal Inland Revenue Service (FIRS)/Joint Tax Board (JTB). The TIN Is a prerequisite for customers to access the Trade System for e-Form ‘NCX’ application;

The e-Form ‘NCX’ is web-based and allows non-commercial exporters to initiate the Form from their offices/homes and submit same to the Authorized Dealer Bank.

A charge of =N=5,000.00 (Five Thousand Naira) as fee per declaration of e-Form ‘NCX’ is applicable with effect from November 30, 2021 and henceforth.

There will be a direct debit of the processing bank’s current account for each declaration which should be recovered from the customer by the bank. However, the charge on the customer for the e-Form ‘NCX’ should be separated from other bank charges.

 All hard copies of Forms ”NCX’ established on or before November 30, 2021 (prior to the commencement of the e-Form ‘NCX’) shall be utilized within 90 days of the establishment of the Form.

 For avoidance of doubt, all established hard copies of Forms ‘NCX’ for which shipment has not taken place within the transition period of 90 days shall be deemed cancelled.

 All Authorized Dealer Banks are enjoined to inform their customers of this development for compliance.

All You need To Know About Trade Monitoring System (TRMS)


Trade Monitoring System (TRMS)

Trade facilitation tool for access to trade forms (Forms NXP, NCX, A)

and data exchange between stakeholders in the trade chain. Visit any of the Portals below to Get Started!


Applicant

Click here to Register on the portal with your Tax Identification Number (TIN) from FIRS or your Bank Verification Number (BVN). Once concluded, you can fill out your Form A, NCX or NXP.


Authorised Dealer Bank (ADB)

Authorised Dealers review submissions of exporters and validate trade forms.


Stakeholder/MDA

Pre Shipment Inspection Agents, Relevant Regulatory Agencies, Shipping lines & Airlines and Nigeria Customs Service.


Navigate to the Sign Up page

Select Organization and inputs TIN

Select the “Continue” button

An OTP is sent to the registered E-mail address associated with your TIN.

Input the OTP

Create a new password and then confirm password

A verification link is sent to the email address associated with your TIN.

Click on the verification link in his e-mail

You will be re-directed to the TRMS Login page

Input Username (Registered E-mail Address) and newly created Password

An OTP is sent to the Username (E-mail Address)

Input OTP and click the “Continue” button

You will be logged in to the TRMS.


Link Address

Trade Monitoring System (TRMS): https://www.tradesystem.gov.ng/


Get Support:

Email: support@tradesystem.gov.ng

Phone 1: +234 (0) 817 665 6487

Phone 2: +234 (0) 1 2361615


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