Import Finance

The product is targeted at FirstBank customers who are involved in the importation of raw materials or finished goods.

Loan Information


Yes, as per instruction/agreement with beneficiary. However, full remittance must have been made on or before the statutory 270 days after the bill of lading date.

The maximum tenor of an LC is 6 months for normal goods and 12 months for specialised goods and machineries, since the life of the LC is dependent on the life of the Form M. It can be extended subsequently by CBN approval.

See also