In 2026, the Central Bank of Nigeria (CBN) has implemented a ‘Zero Tolerance’ policy on export proceeds. To stabilize the Naira, every cent earned from a formal export must be brought back into the country. Failure to do so will result in your company being blacklisted from the Nigerian Foreign Exchange Market.
The 180-Day Timeline
Under the revised 2026 Foreign Exchange Manual:
- Non-Oil Exports: Proceeds must be repatriated within 180 days from the date of the Bill of Lading.
- Oil & Gas Exports: Proceeds must be repatriated within 90 days.
As of January 2025/2026, the CBN no longer grants extensions for these timelines. If your buyer is slow to pay, you must still ensure the funds hit your Domiciliary Account within the window or face sanctions.
How the CBN Tracks Your Money
Everything is linked via the e-NXP form. When you ship, the system ‘opens’ a file. When the money arrives in your bank, the bank ‘closes’ the NXP on the TRMS portal. If an NXP remains open past 180 days, the system automatically flags the exporter.
Use of Repatriated Funds
Exporters in 2026 have 100% access to their repatriated funds in their Domiciliary accounts. You can:
- Sell the FX at the prevailing market rate.
- Use it to pay for your own imports (Form M).
- Transfer it to other eligible business partners.
Conclusion
Compliance with repatriation rules is the only way to maintain your status as a ‘Trusted Exporter’ and qualify for the EEG incentive. For help setting up your export bank account, see our Step-by-Step Export Guide.