Monday, October 15, 2012


Any NXP confirmed by CBN to NEPC must pass the 10 rules as laid down by the consultants (PwC).
These rules are to ensure accountability, probity, genuineness of claims.Any NXP that fails any or all of the rules will automatically be rejected by the database. The 10 Golden rules for EEG claims include the following:

1.      -5% +10% Rule : Funds repatriated must not be more than 5% lower than NXP value and must not be more than 10% higher than the NXP value
2.      300 Day Rule: EEG Claim must be received within 300days after shipment date.
3.      Export Date Rule: The date of shipment must not precede the NXP processing date
4.      Currency Conflict / Cross rates: The cross rate for currency conversion must be correctly applied
5.      CCI Rule: The date of shipment must not precede the CCI issuance date
6.      Non-oil Export Certificate: You must have an export license to be able to claim EEG
7.      FOB > 0
8.      EEG Rate > 0
9.      Amount Repatriated > 0
10.  Exchange Rate > 0

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