The Nigeria Customs Service, NCS, has been directed by the Minister of Economy and Coordinating Minister of Finance, Wale Edun, to suspend the 25 percent penalty on improperly imported vehicles.
The NCS National Public Relations Officer, Abdullahi Maiwada, made this known in a statement on Friday, March 22.
It will be recalled that the Federal Government recently announced a 90-day window to regularize import duties on specific categories of vehicles.
While announcing the development, NCS said an import duty and a 25 percent 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 NCS Act 2023.
However, giving an update on the development, Maiwada added that the service has also been directed to be initiated within three months, a window for the regularisation of import duties on specific categories of vehicles.
The statement read in parts, “The Nigeria Customs Service, under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.
“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has approved the suspension of the 25 percent penalty previously imposed in addition to import duty on improperly imported vehicles.”
The NCS spokesperson urged stakeholders to make use of the opportunity.
“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe,” Maiwada said.
