The Nigeria Customs Service (NCS) has announced the introduction of a 90-day window to facilitate the regularisation of import duties on specific vehicle categories.
According to a statement by Abdullahi Maiwada, NCS PRO, issued on Sunday, the initiative aims to enhance compliance and simplify import processes, based on the directive of the minister of Finance and Coordinating Minister of Economy, Wale Edun.
"Owners of vehicles with pending customs duties or those detained due to undervaluation can apply through zonal coordinators and CAC FCT Command. However, it's essential to note that seized and condemned vehicles are not eligible.
"The valuation will follow the VIN method, and duty payments, accompanied by a 25% penalty, must adhere to import guidelines and procedures. Vehicle owners are encouraged to seize this opportunity for compliance within the specified timeframe," Maiwada said.
He added 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.
He, however, clarified 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.
