CBN Price Verification System Portal: This guide will show you how to register and submit on the CBN Price Verification System (PVS) portal.
Discover how to navigate the CBN PVS Portal with ease. Our guide outlines the steps to register and submit applications, ensuring compliance and efficiency for suppliers and importers in Nigeria. Transform your pricing processes today!
The Central Bank of Nigeria has introduced the Price Verification System (PVS) website to streamline and enhance the price verification process for suppliers and importers. This system aims to ensure transparency and efficiency in the pricing of goods and services in Nigeria.
This blog post will guide you through registering and submitting applications on the CBN PVS Portal (https://pvs.cbn.gov.ng/).
How to Register & Submit on CBN Price Verification System Portal: pvs.cbn.gov.ng.
Step 1: Access the CBN PVS Portal via https://pvs.cbn.gov.ng
To get started, you must access the CBN PVS Portal by visiting the official website: https://pvs.cbn.gov.ng/register/. Here’s what you need to do:
- Click on the option “Are you a Supplier or Importer? Get Started.“
Step 2: Register Your Account
Registration is a crucial step in the process. Follow these steps to register on the Price Verification System Portal:
- Register an Account via https://pvs.cbn.gov.ng/register/
- Search for your Tax Identification Number (TIN) to initiate registration.
- Review the TIN-generated details carefully.
- Fill in all the required fields as prompted.
- Click the “Submit” button to complete your registration.
Step 3: Generate Your Price Verification Report
Once you have registered, you can generate your Price Verification Report. Follow these steps:
- Log in to the PVS Portal using your newly created account: https://pvs.cbn.gov.ng/login/.
- Under the “Form M” section, select “Create Form.“
- Click “Proceed” when a reference number pop-up appears.
- Complete all the mandatory fields on the form.
- Click “Save” to proceed.
- Input the details of the items you are importing, or use the bulk upload feature for convenience.
- Complete the “Summary Details” section.
- Click “Save and Proceed” to submit your application.
Step 4: Download Your Price Verification Report
After submitting your application, you can access your form in the “View Forms” section. Follow these steps to download the XML for your Price Verification Report:
- Locate and select your form.
- Download the XML file, which contains your Price Verification Report.
Step 5: Complete Your Form M Application
Now that you have your Price Verification Report proceed to the Form M portal to complete your application:
- Fill out your Form M with the required information.
- Submit your Form M application.
Step 6: Validation and Approval
Your application will be sent to the Central Bank of Nigeria for validation and approval. Ensure that all the information provided is accurate and complies with the regulations.
The introduction of the CBN PVS Portal is a significant step towards enhancing transparency and efficiency in the pricing of goods and services in Nigeria.
By following the steps outlined in this guide, suppliers and importers can easily register and submit their applications for price verification. Stay compliant with CBN regulations and contribute to Nigeria’s fair and transparent pricing system.
If you have any questions or need further assistance, please refer to the official CBN PVS Portal for additional resources and support.