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Foreign Trade
Product & Services - Foreign Trade

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Foreign Trade


The Trade Services department handles the foreign trade transactions of our customers through a network of Correspondent banks.


The activities of the department include: 

  • bulletProcessing of Import Documents 

  • bulletLetters of Credit Establishment 

  • bulletPayments of Imports under Bills for Collection Arrangement 

  • bulletInvisible Transactions 

  • bulletExport 

The department liaises with the Nigerian Customs, Scanning Companies and other relevant Authorities in the processing of Import Documents. 

  • bulletForm M 

  • bulletProforma Invoice 

  • bulletInsurance

  • bulletCustomer's Letter authorizing us to do such transaction in line with    the company's signature mandate.

  • The Routing of Shipping Documents
  • Bills for Collection
  • One set of document form the supplier directly to the importer's bank (Zenith Bank)
  • Two sets from the supplier's bank to the importer's bank


Not valid for foreign Exchange Transactions

One set of document from the supplier to the customer.

Two sets of document directly from the supplier to Importer's bank


Letter of Credit

One sets of document form the supplier to the issuing bank. (Zenith Bank)

Two sets of document submitted to overseas bank for payment (the document will later be forwarded to the bank)


The document required for processing or Risk Assessment Report (RAR):

bulletCopy of Form M

bulletTransport document

bulletCommercial Invoice/Final Invoice

bulletPacking List

bulletStandard combined Certificate of value and Origin (CCVO) (form        C16)

bulletManufacturer Certificate/Certificate of analysis/Photosanitary        Certificate


NB: All Shipping documents must be issued after Form M approval date and Letters Credit issuing date. That is shipping Document must not predate Form M and Letter of Credit.


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The documents required for Bills for Collection Remittance are:
  • bulletProcessed Form M
  • bulletBill History
  • bulletBill of lading/Airway Bill/ Way Bill
  • bulletOriginal Combined Certificate of Value and Origin (CCVO)
  • bulletManufacturers Certificate/ Certificate of Analysis/Photosanitary        Certificate
  • bulletCustoms clearing document (Exchange Control Document)
  • bulletAuthority letter from Customer to buy foreign exchange in line with     the company's signature mandate.

Invisible Transaction

bulletInvisible transactions involve payment for various services, which    include;

bulletMedical expenses

bulletDividend & Royalty Payment

bulletManagement Fees

bulletTechnical Services

bulletTravel allowance- Business, Personal & Pilgrimage

bulletPersonal Home Remittance

bulletSchool Fees


bulletNet proceeds of International Air- Tickets sales

bulletLoan repayment

bulletExpatriate personal home remittance

Payment are by either SWIFT or by Foreign Drafts. However, for Travel allowances, payment is by Traveler's cheque or Cash.


Processing of commercial export is through Letter of Credit, Bills for Collection, and Advance payment. We negotiate Export documents, process export levy draft and certify export proceeds repatriation to the CBN on behalf of our customers.


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E- LC Application

Trade finance On-line

The Followings are available on our Trade Finance On-line:


Form M

bulletThe Scanning Company that processed your Form M

bulletThe Status of Form M (Accepted/Rejected)

bulletThe Approval date of the Form M

bulletThe Amount of the Form M

bulletThe Currency of the transaction


Letter of Credit:

bulletThe Letters of Credit number

bulletThe Beneficiary

bulletThe Expiry date

bulletThe Type of Letters of Credit (Confirmed/Unconfirmed/Usance)

bulletStatus of Unconfirmed Letters of Credit (Confirmed/Outstanding    unconfirmed balance.)

bulletPayment of Letters of Credit (Paid/Outstanding balance)

bulletStatus of Letters of Credit (Expired/Active)


Status of your shipping documents

bulletShipping document received

bulletBill of Lading Number

bulletAmount of Shipping documents

bulletAvailability of Risk Assessment Report (RAR)

bulletRisk Assessment Report number

In addition to the above you can equally receive the followings via your e-mail address:

bulletNotification of Form M batched to Scanning Companies.

bulletNotification of Acceptance and Rejection of Form M

bulletNotification of receipt of Risk Assessment Report

bulletNotification of document batched to Scanning Companies

bulletNotification of Rejection of Shipping Document form Scanning      Companies

bulletNotification of Bills for Collection payment

bulletNotification of Established Letters of Credit and amendment of Letters of Credit. In addition to this notification copies of the established Letters of Credit and any amendment are attached to such notification to enable you have them in soft copies.

bulletNotification of discrepancies on Letters of Credit

bulletNotification of Matured Usance and Deferred payment Letters of    Credit.

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