In a proactive stride towards bolstering compliance and streamlining import procedures, the Nigeria Customs Service (NCS), acting under the directive of the Honourable Minister of Finance and Coordinating Minister of the Economy, announces a 90-day grace period for rectifying import duties on certain vehicle classifications.
CGC Adewale Adeniyi
This initiative targets vehicles imported into Nigeria where the requisite customs duties have not been met or those detained due to undervaluation. However, it’s important to note that vehicles seized and condemned will not be eligible for release under this provision, instead, they will be forfeited to the Federal Government following existing regulations.
According Customs National Public Relations Officer, CSC Abdullahi Maiwada, Vehicle owners, Importers/Agents aiming to regularize import duties are urged to apply to the designated Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. Applicants must furnish the necessary documentation and undergo the Vreg process, adhering to directives from the Federal Ministry of Finance for imported motor vehicle registration.
CSC Abdullahi Maiwada
Valuation and assessment of vehicles will be conducted utilizing the VIN valuation method. Import Duty alongside a 25% penalty must be settled in accordance with established import guidelines, procedures, and documentation requirements outlined in the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023.
Furthermore, duty payments must be transacted using the designated Procedure Code specifically tailored for this initiative.
This endeavor underscores the NCS’s steadfast dedication to fostering compliance within the import sector. Stakeholders are encouraged to seize this opportunity within the stipulated timeframe.
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