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The short answer
A Nigerian buyer's Form M, filed through the National Single Window and validated by their bank, needs your proforma invoice, valid for no more than 90 days, plus an electronic insurance certificate for 110% of the value and any SON or NAFDAC certificates the goods require. Supply a precise, consistent proforma and do not ship until Customs has registered the Form M.
When a Nigerian company buys from a South African supplier, the first Nigerian document in the chain is the buyer's Form M, and the first thing the buyer will ask you for is a proforma invoice to support it. Getting that proforma right, and knowing what else the buyer's bank will need, saves weeks. This guide is written for the South African seller and explains what Form M is, what you supply, and why you should not ship until it is registered.
What Form M is
Sterling Bank's Form M guide describes it as a declaration of intention to import physical goods into Nigeria, mandatory whatever the value and however payment is made. It is filed electronically through the National Single Window; the importer's tax identification number must be registered and validated; the buyer's bank validates the form, and registration by the Nigeria Customs Service is the final step. Form M numbers begin with the prefix MF.
What the buyer needs from you
| Document | From whom | Key point |
|---|---|---|
| Proforma invoice | You | Valid for no more than 90 days, according to Sterling Bank |
| Insurance certificate | Buyer, from a Nigerian insurer | Electronic, for 110% of the invoice value |
| Product certificates (SON, NAFDAC and others) | Buyer, with your technical input | Depends on the goods |
| Product information | You | Specifications, HS code, labels for regulated goods |
Building the proforma
There is no single legal format for a proforma, but the buyer's bank and Customs will compare it with the final invoice and the goods. A proforma that supports a clean Form M usually includes:
- Your full legal name, address and registration details, and the buyer's, exactly as on their CAC and bank records.
- A unique proforma number and its date, with a validity date no later than 90 days on.
- A precise description of each item, with the six-digit HS code you expect.
- Quantity, unit, unit price, total, and currency.
- The Incoterm and named place, such as FOB Durban or CIF Lagos.
- Country of origin of the goods.
- Payment terms: letter of credit, bills for collection or advance payment.
- Estimated shipment date and port of loading.
Keep the final commercial invoice consistent with the proforma. A different description, price or quantity forces the buyer to amend the Form M, and a mismatch at the port is a reason for delay.
Timing and validity
Because the proforma is valid for at most 90 days, agree the price and the validity period before you issue it, and do not let it lapse while the buyer is still arranging funds. If prices move, issue a new proforma rather than amending by email; the buyer's bank will want a clean document that matches the Form M. Plan production so that you can ship soon after registration: a Form M registered long before goods are ready gives the buyer an extra administrative step if it needs to be extended or amended.
Tell the buyer early if any item is a regulated product. SON or NAFDAC certificates take time, and the buyer cannot complete the Form M package without them. Supplying test reports, specifications and label artwork promptly is often the fastest way to speed up the whole order.
Valid for FX or not
Sterling Bank says a Form M can be 'Valid for FX', meaning the buyer may buy foreign exchange through the official market to pay you, or 'Not Valid for FX', where the buyer pays from their own funds such as a domiciliary account. Ask which applies. It affects how and when your money arrives, and whether the buyer's bank can fund a letter of credit; see letters of credit.
Do not ship before registration
Sterling Bank's guide says goods should be shipped only after the Nigeria Customs Service has registered the Form M. Goods that arrive in Lagos without a valid Form M are much harder for the buyer to clear and pay for. Ask the buyer to send you the registered Form M number, and put it on your commercial invoice if the buyer or LC asks for it.
Other Nigerian checks
- Prohibition list. Make sure the product is not banned; see the prohibition list.
- SON and NAFDAC. Regulated products need certificates; see SON conformity.
- Clearing. DHL's guide says anyone lodging declarations in Nigeria must be licensed under the Nigeria Customs Service Act 2023, and lists Form M, PAAR and SONCAP among the processes a clearing agent must handle.
For the Nigerian importer's view of the same process, see Form A and Form M explained.
Where Pryme fits
Once the Form M is in place and the buyer pays, a Pryme Business Account can receive USD with its own account details or NGN, and hold each until you decide to convert, with the rate and fee shown before you approve. Outside Nigeria, Pryme works through regulated partners. Invoicing keeps proforma and final invoice numbers linked, and Business multicurrency explains the account.
Questions people ask
What is a Form M in Nigeria?
The importer's declaration of intention to import, filed through the National Single Window, validated by their bank and registered by Customs.
How long is a proforma invoice valid for Form M?
Sterling Bank's guide says no more than 90 days.
Who arranges insurance for Form M?
The buyer provides an electronic insurance certificate for 110% of the invoice value.
Can I ship before the Form M is registered?
You should not. Sterling Bank says goods should ship only after Customs registers the Form M.
Sources
- Sterling Bank: FAQs on Form M (modified 13 Mar 2022) · accessed Oct 2026
- DHL Nigeria: How to select the right clearing and forwarding agent (31 Aug 2026) · accessed Oct 2026
- Nigeria Trade Information Portal: Prohibited items (c. 2025) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.