– Importers to pay 25 percent as sanction
Vincent Toritseju
Lagos — The Nigerian Government through its Minister of Finance and Coordinating Minister of the economy has directed the management of the Nigeria Customs Service, NCS, to allow importers of vehicles not properly imported a grace period of 90 days to regularise their trade documents and clear their vehicles.
In a statement, the agency’s Spokesman, Mr. Maiwada Abdullahi, a Chief Superintendent of Customs said that the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
Maiwada also said that vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command adding that all necessary documents must be submitted and processed in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.
He said: “In a proactive move to enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, is pleased to announce a 90-day window for regularizing import duties on specific categories of vehicles.
“While we strive for inclusivity, it is important to clarify that vehicles seized and condemned will not be released under this arrangement and shall be forfeited to the Federal Government in accordance with extant regulations.
“All vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.
“Valuation and assessment of the vehicles will be carried out using the VIN valuation method. Import Duty and a 25% penalty shall be paid in tandem with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Also, duty payments must be made using the Procedure Code specifically created for this exercise.
“This initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated timeframe.
