The Nigeria Customs Service received directives from the Minister of Economy and Coordinating Minister of Finance, Mr. Wale Edun, to halt the imposition of the 25 per cent penalty on improperly imported vehicles. Abdullahi Maiwada, the service’s National Public Relations Officer, disclosed this in a statement issued on Friday.
According to PUNCH Online, the Federal Government recently announced a 90-day window to rectify import duties for specific vehicle categories. The Customs Service had initially stated that import duties and a 25 per cent penalty must be paid in accordance with import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the NCS Act 2023.
Providing an update on the situation, Maiwada mentioned that the service has been instructed to institute a three-month window for the regularization of import duties on certain vehicle categories.
The statement elaborated, “Under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, the Nigeria Customs Service has initiated a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularization of import duties on specific categories of vehicles.
“To alleviate economic hardship and promote compliance, the Honourable Minister and Coordinating Minister of the Economy has authorized the suspension of the previously imposed 25 per cent penalty in addition to import duty on improperly imported vehicles.”
Maiwada encouraged stakeholders, including vehicle owners, importers, and agents, to take advantage of this opportunity. He urged them to regularize import duty payments within the allocated 90-day timeframe.
