The Nigeria Customs Service (NCS) has announced the suspension of the 25 percent penalty that had previously been imposed on improperly imported vehicles, in addition to import duty.
A statement signed by the National Public Relations Officer of NCS, Abdullahi Maiwada, on Friday, explained that the action is based on the directive of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The Minister had earlier 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.
Maiwada said the initiative is to ease the hardship and encourage compliance, urging stakeholders like vehicle owners, importers as well as agents to make use of the opportunity.
“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 per cent penalty previously imposed in addition to import duty on improperly imported vehicles.
“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.’’
