Posted by Following an order from the Minister of Finance and Coordinating Minister of the Economy, the Nigeria Customs Service (NCS) has set a 90-day deadline for the regularization of import tariffs on certain types of automobiles.
Import procedures can be made easier with the help of this window.
“This initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation,” said Chief Superintendent of Customs Abdullahi Maiwada, the National Public Relations Officer of the Nigeria Customs Service, in a statement released on Sunday.
“Although we make every effort to be inclusive, we must emphasize that under this arrangement, condemned or seized vehicles will not be released but will instead be forfeited to the Federal Government per the current regulations.”
In accordance with the directives issued by the Federal Ministry of Finance regarding the registration of imported motor vehicles, he elaborated that in order to regularize import duties on their vehicles, all vehicle owners and importers/agents must apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. They must submit all available documents and process Vreg.
According to the statement, the vehicles will be evaluated and valued using the Vehicle Identification Number (VIN) method. The statement also stated that a 25% penalty and import duty must be paid along with the necessary procedures, documentation, and guidelines for used vehicle imports as outlined in the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023.
Payments for duties must be made using the Procedure Code that was prepared for this exercise, it added.
“Our steadfast dedication to easing compliance is demonstrated by this endeavor. The statement underlined that all parties involved should take advantage of the opportunity within the given time limit.