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Nigeria is set for a major shift in international trade and trade finance with the enactment of the National Digital Economy and E-Governance Bill 2025 which seeks to foster a modernised trade ecosystem by adopting the United National Model Law on Electronic Transferable Records.
Once enacted, digital bills of lading, digital promissory notes, digital warehouse receipts, and other negotiable instruments will carry the same legal certainty as their paper-based counterparts reducing delays, lowering risk, and strengthening cross-border efficiency.
Authored by TEMPLARS Partner, Desmond Ogba, and Associates, Chijioke Ukomadu and Obinna Onyishi, the article examines how The Bill introduces clear standards on legal control, integrity, authenticity, and recognition of electronic trade documents.
It also creates a regulated market for Trust Service Providers that will underpin secure digital verification. These are innovations that stakeholders in cross-border trading have long advocated for.
By aligning with this gloabal trend on trade digitisation, Nigeria signals its readiness for a more competitive and investment-friendly trade environment, unlocking new opportunities for financiers, logistics operators, technology firms, and exporters.
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